Follow The Daily Ticker on Facebook! Congress returned to Washington today for a lame duck session that could be filled with great drama and accomplishments or bitter disappointment. Our lawmakers have exactly five weeks to agree to a plan to avoid nearly $700 billion in tax increases and spending cuts—a.k.a. the "fiscal cliff"—that are set to take effect on January 1, 2013.
Aimed at guiding Congress through a more sustainable path to long-term economic growth, a new non-partisan campaign, Fix The Debt, was announced at a press briefing at the National Press Club on Tuesday afternoon. The federal government currently faces trillions of dollars in payment obligations to cover the costs of Medicaid and Medicare, two of the largest health-care programs in the country. According to a recent Medicare Trustee report, the government's records carry unfunded liabilities of $38.6 trillion in promised Medicare benefits alone
Reuters - Greek coalition leaders agreed to meet next week to hammer out almost 12 billion euros worth of austerity cuts demanded by the near-bankrupt country's lenders after a deal proved elusive at an initial round of talks on Wednesday. Greek officials have spent the past week scrambling to identify 11.7 billion euros worth of spending cuts for 2013 and 2014 required by the country's latest rescue package before European and IMF officials visit Athens next week
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South Korea n authorities have begun their own investigation into the alleged rate-rigging of certificates of deposit, or CDs. The latest scandal follows investigations by regulators in several countries into the rigging of the Libor, which recently cost Barclays bank more than $450 million in fines. CDs are used by financial firms to set interest rates, particularly household loans
While the proposed $33-billion expansion of the Olympic Dam copper and uranium mine project will surely add greatly to the coffers of Roxby Downs, making it self-sufficient in the long-term, the same could not be said as far as adequate housing accommodations is concerned. Currently with some 5,000 residents, the population of Roxby Downs is expected to double once the Olympic Dam expansion goes ahead. Almost a third of the present number of residents are fly-in, fly-out workers
The head of HSBC 's compliance operations has resigned after the bank was forced to apologize before a U.S. senate committee on Tuesday for having inadequate money laundering controls
Follow The Daily Ticker on Facebook! Ethan Russell has been photographing rock 'n' roll stars since the late 1960s. He's captured some of the world's most influential artists including The Beatles, The Rolling Stones, The Eagles and The Who, for which he earned his first Grammy nomination. Russell is the only photographer who has shot the album covers for The Beatles, The Stones and The Who.