Economies

Tech Council: US Needs More Skilled Worker Visas

BOSTON—The state’s technology industry is criticizing President Obama for failing to increase the supply of visas for highly skilled workers. The Massachusetts High Tech Council...




  • Spring Bank, a pioneer in the creation of borrow and save programs that help credit-strapped borrowers in low-income communities, in Harlem, N.Y., on Nov. 26, 2014. (Petr Svab/Epoch Times)

    NY Bank Offers Throw Financial Lifeline to the Needy

    NEW YORK—New York is considering a novel solution to alleviate the lending needs of credit-strapped low-income consumers called “borrow and save,” a type of loan... Read more

  • EU Commission chief Jean-Claude Juncker speaks to unveil a 315 billion-euro investment plan to kickstart the economy, on Nov. 26, 2014, at the European Parliament in Strasbourg, eastern France. (Frederick Florin/AFP/Getty Images)

    European Fund to Attract $394B in Investment to Stimulate Economy

    STRASBOURG, France— President of the European Commission (EC), Jean-Claude Juncker, announced a plan for a strategic investment fund he hopes will grow the EU economy... Read more

  • Secretary General of OPEC Abdalla Salem El-Badri of Libya speaks to journalists prior to the start of a meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria, Thursday Nov. 27, 2014. Expectations that the group would not cut output to support the market saw the global price of oil slump another US dollar 1.89 on Thursday to US dollar 75.86 a barrel, extending its losses since June, when it was as high as US dollar 115. (AP Photo/Ronald Zak)

    OPEC Unity Tested By Low Prices, Oil Glut

    VIENNA—OPEC oil ministers meeting in Vienna on Thursday are in a bind. Prices are plunging — and in the short term, the cartel may not... Read more

  • Toronto housing is one regional market that could be overvalued by roughly 20 percent, according to the IMF. (Epoch Times)

    Canadian Housing Roughly 10% Overvalued, Says IMF

    OTTAWA—The International Monetary Fund (IMF) issued a warning Wednesday, Nov. 26, that a hot housing market and mounting household debt represent key domestic risks to... Read more

  • Customers shop at a Century 21 Department Store in Philadelphia on Oct. 28, 2014. The Commerce Department releases personal income and spending for October on Wednesday, Nov. 26, 2014. (AP Photo/Matt Rourke)

    US Consumer Spending Up 0.2 Percent in October

    WASHINGTON—U.S. consumers spent modestly more in October, but the small uptick suggests that they’re still wary of buying too much ahead of the crucial holiday... Read more

  • Iran's Minister of Petroleum Bijan Namdar Zangeneh talks to journalists as he arrives at a hotel for a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, Wednesday, Nov. 26, 2014. (AP Photo/Ronald Zak)

    Saudi Arabia Says Oil to Stabilize; No Need for OPEC Production Cut

    VIENNA—Top OPEC producer Saudi Arabia suggested Wednesday there is no need for the cartel to cut its output ceiling despite a plunge in prices that... Read more

  • Traders Richard Scardino (L) and Michael Smyth work on the floor of the New York Stock Exchange, Wednesday, Nov. 26, 2014. Stock indexes are holding near record levels as traders digest some mixed news on the US economy. (AP Photo/Richard Drew)

    Wall Street Stock Indexes Stay Near Record Highs

    NEW YORK—U.S. stocks were little changed on Wednesday, keeping the major indexes near record levels, as investors assessed the latest reports on the economy. KEEPING... Read more

  • FILE - in this July 8, 2014, file photo, Sen. James Inhofe, R-Okla., speaks to reporters on Capitol Hill in Washington. Inhofe, who will take over the Senate Environment and Public Works Committee in January, said in a statement late Tuesday, Nov. 25, 2104, that a stricter standard to be announced Wednesday by the Obama administration on smog-forming pollution allowed in the air "will lower our nation's economic competitiveness and stifle job creation for decades." He vowed "vigorous oversight" of the proposal in his new position. (AP Photo/Susan Walsh)

    Obama Administration Raises Smog Standards

    WASHINGTON—The Obama administration took steps Wednesday to cut levels of smog-forming pollution linked to asthma, lung damage and other health problems, making good on one... Read more

  • German Chancellor Angela Merkel addresses the media during a joint press conference as part of a meeting with the Prime Minister of Poland, Ewa Kopacz, at the chancellery in Berlin, Germany, Thursday, Oct. 9, 2014. (AP Photo/Michael Sohn)

    Germany to Require 30 Pct Women in Top Boardrooms

    BERLIN— Germany’s coalition government wants major companies to have at least 30 percent women on its supervisory boards. The leaders of Germany’s Social Democrats and... Read more

  • The Wall Street subway stop on Broadway, in New York's Financial District, on Oct. 2, 2014. (AP Photo/Richard Drew)

    US Stocks Dip as Oil Pushes Energy Sector Lower

    NEW YORK—A slump in energy prices pushed the stock market back from record levels on Tuesday. Energy stocks slid as the price of oil resumed... Read more

  • Oil personnel work at the Rumaila oil refinery, near the city of Basra, Iraq, on Dec. 13, 2009. OPEC's purpose is to coordinate oil output to keep prices high and stable, to maximize member countries’ revenue but make sure global demand for oil stays strong. A steep, coordinated cut in output could stop and possibly reverse what has been a 30 percent decline in price over five months. (AP Photo/Nabil al-Jurani)

    As OPEC Faces Tough Test, Lower Oil Prices Loom

    NEW YORK—These are the moments OPEC exists for: A sharp drop in global oil prices has reduced the amount of money OPEC countries take in... Read more

  • (Shutterstock*)

    More-Confident US Households Step Up Borrowing

    WASHINGTON—Americans are slowly but steadily borrowing more money, bringing to an end a five-year effort to cut household debt that has slowed consumer spending and... Read more

  • A customer uses an ATM at a Bank of America branch on Peachtree Street, in Atlanta, on July 16, 2013. US bank earnings rose 7.3 percent in the July-Sept. quarter of 2014, from a year earlier, as banks reduced their expenses and continued to lend out more money, which helped drive up revenue. (AP Photo/David Goldman)

    US Bank Earnings up 7.3 Percent in 3Q

    NEW YORK—U.S. bank earnings rose 7.3 percent in the July-September quarter from a year earlier, as banks reduced their expenses and continued to lend out... Read more

  • Mara Boccolini, a realtor associate with South Beach Estates, shows the master bathroom in a newly renovated waterfront property on the market during a viewing for brokers, in Miami Beach, Fla., on Sept. 24, 2014. Standard & Poor's releases its S&P/Case-Shiller index of home prices for September and the third quarter on Tuesday, Nov. 25, 2014. (AP Photo/Lynne Sladky)

    US Home Price Gains Slow for 10th Straight Month

    WASHINGTON—U.S. home prices rose in September at the slowest pace in more than two years, reflecting modest sales gains and a rising number of available... Read more

  • Consumer Confidence Down in November

    WASHINGTON—U.S. consumer confidence fell in November following a big gain the previous month, as Americans became less bullish about the economy and jobs. The Conference... Read more

  • FILE - In this Wednesday, Nov. 5, 2014 file photo, Senate Republican leader Mitch McConnell of Kentucky holds a news conference on the day after the GOP gained enough seats to control the Senate in next year's Congress and make McConnell majority leader, in Louisville, Ky. Economists acknowledge that the list of options is limited but say there are several steps President Barack Obama and Republicans in Congress can take to further invigorate the economy. (AP Photo/J. Scott Applewhite, File)

    US Economy Grew At 3.9 Percent Rate in 3rd Quarter

    WASHINGTON— The U.S. economy grew at a solid 3.9 percent annual rate in the July-September period, even faster than first reported, giving the country its... Read more


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