April 22, 2012 |
WASHINGTON - An infusion of hundreds of billions of dollars will give the International Monetary Fund a badly needed boost to tackle Europe's prolonged debt crisis. But global finance officials sent a strong message Saturday that struggling governments must speed reforms or risk spooking jittery markets and raising the economic danger. The lending agency said in a statement after its weekend meetings that financially strapped European countries must put in place bold changes to resolve their debt problems.
April 17, 2012 |
It hurts paying taxes no matter how much you make. But what if you are out of work and don't have the money to pay by today's April 17 deadline? Herewith we offer some tips for taxpayers who are unemployed and can't pay their taxes on time. The Internal Revenue Service has a new form for you! The IRS is trying to provide what's called "penalty relief" to unemployed taxpayers. Some who have been out of work for 30 days or longer will be able to avoid failure-to-pay penalties, according to Isdaner & Co., certified public accountants based in Bala Cynwyd.
April 13, 2012 |
NEW YORK — Encouraging signs from two of the most important zones of the world economy, the powerhouse of China and the debt-burdened countries of Europe, drove the Dow Jones industrial average up 181 points Thursday, its second-biggest gain this year. China's central bank reported a surprising jump in loans in March. That eased concerns about a sudden slowdown in the Chinese economy, whose growth has helped pull the globe out of recession. Italy's government easily sold $6.4 billion in bonds to investors.
April 4, 2012 |
MILWAUKEE - Mitt Romney tightened his grip on the Republican presidential nomination Tuesday night, sweeping primaries in Wisconsin, Maryland and Washington D.C., with time left over to swap charges with President Obama. "Four more years?" Romney asked sarcastically of the president as supporters cheered in Milwaukee. He said Obama was "a little out of touch" after spending four years surrounded by the trappings of power and had presided over near-record job losses as well as increases in poverty, home foreclosures, government debt and gasoline prices.
April 4, 2012 |
U.S. stocks and Treasury prices dropped Tuesday after Federal Reserve policymakers said they were worried about a slowdown in hiring and appeared to resist buying more bonds to help the economy. The Dow Jones industrial average was down as much as 133 points after the Fed released minutes of the March meeting of its Open Market Committee, which sets interest rates and monetary policy. It had been down 45 points before the minutes were released. The Dow bounced back by the close to a decline of 64.94 points, or 0.5 percent, at 13,199.55.
March 10, 2012 |
ATHENS, Greece - Greece's private creditors agreed Friday to take cents on the euro in the biggest debt write-down in history, paving the way for an enormous second bailout for the country to keep Europe's economy from being dragged further into chaos. Greece would have risked defaulting on its debt in two weeks without the agreement. Prime Minister Lucas Papademos called the deal - which shaves some $138 billion off Greece's $487 billion debt load - an important "historic success" in a televised address to the nation Friday night.
March 8, 2012 |
The stock market reclaimed some losses from its biggest dive this year and returned Wednesday to its pattern of steady gains and stable trading. Reassuring reports on productivity and hiring overshadowed worries about the Greek debt crisis. Stock indexes made solid gains by midmorning after the government said oil refineries were operating at a faster clip than economists had expected. Oil refiners Valero Energy Corp. and Tesoro Inc. were among the biggest gainers in the Standard & Poor's 500. The Dow closed up 78.18 points, or 0.61 percent, at 12,837.33.
February 22, 2012 |
LONDON - The massive new bailout approved for Greece early Tuesday should rescue it from immediate bankruptcy. But can the country survive being saved? No matter how you cut it - and plenty is being cut - Greece is only at the start of a long-term retrenchment and overhaul program that will inflict yet more pain on its people, who already have seen their living standards plummet. The question, analysts say, is whether the country can come out the other side of the process with its democracy, economy, and society intact.
February 16, 2012 |
PARIS - Nicolas Sarkozy threw himself Wednesday into what may be the toughest fight of his political career: Unpopular for years and running a feeble economy, the divisive French president announced he's running for a second term. The man who improved French relations with the United States, rallied European leaders to ward off financial meltdown, and initiated international air strikes in Libya is widely disliked at home. Polls suggest his Socialist challenger will be the one attending world summits come May. But Sarkozy is not one to give up easily.
January 31, 2012 |
NEW YORK - The wait for an expected deal between Greece and its creditors rattled financial markets around the world Monday. Yields for ultra-safe U.S. government debt hit their lowest this year, the euro dropped against the dollar, and European stocks took a fall. But U.S. stocks dropped only slightly. The Dow Jones industrial average fell 6.74 points to close at 12,653.72, for a drop of 0.05 percent. The Dow lost as much as 131 points in morning trading, then slowly recovered in the afternoon.