The question of whether Americans are better off than they were four years ago depends, of course, on the American.For the 12 million unemployed, the answer is most certainly no.But for many of America's millionaires, the answer may be more affirmative.A new study from WealthInsight, the London-based wealth-research and data firm (and yes, they are non-partisan), showed that the United States added...
Obama Wins 2012 Election: Why Your Taxes Are Going Up
Labels: BusinessWhen President Obama and the new Congress begin to tackle important legislation and federal policy in January, one of the key issues will be how to reform America's byzantine tax code.Obama campaigned on a platform to raise taxes on the wealthiest Americans, declaring that millionaires and billionaires need to "pay their fair share." The president proposed the highly controversial "Buffett Rule,"...
Wall Street sinks after election as "fiscal cliff" eyed
Labels: BusinessNEW YORK (Reuters) - The Dow industrials lost more than 300 points in a sell-off on Wednesday that drove all major stock indexes down over 2 percent in the wake of the presidential election as investors' focus shifted to the looming "fiscal cliff" debate and Europe's economic troubles.The Standard & Poor's 500 Index posted its biggest daily percentage drop since June, with all 10 S&P sectors...
Coal company announces layoffs in response to Obama win
Labels: BusinessA coal company headed by a prominent Mitt Romney donor has laid off more than 160 workers in response to President Obama's election victory.Murray Energy said Friday that it had been "forced" to make the layoffs in response to the bleak prospects for the coal industry during Obama's second term. In a prayer circulated by the company, CEO Robert Murray said Americans had voted "in favor of redistribution,...
U.S. to Pass Saudi Arabia in Energy Production, IEA Says: Huge Foreign Policy, Economic Implications
Labels: BusinessA new report by the International Energy Association says the U.S. will become the world's largest oil producer by 2017, overtaking current leaders Saudi Arabia and Russia. U.S. energy policies initiated by the George W. Bush administration and implemented by President Barack Obama have moved the U.S. toward energy independence and away from Middle East energy sources. U.S. oil production has risen...
Eurozone back in recession in Q3
Labels: BusinessLONDON (AP) -- The 17-country eurozone has bowed to the inevitable and fallen back into recession for the first time in three years as a sprawling debt crisis took its toll on the region's stronger economies.And with surveys pointing to increasingly depressed conditions across the eurozone at a time of high unemployment in many countries, there are fears that the recession will deepen, and make the...
Dec
12
Wednesday's Sports in Brief
Labels: SportsNEW ORLEANS (AP) -- Kobe Bryant scored 29 points, making him the fifth player in NBA history to score 30,000, and the Los Angeles Lakers snapped a two-game skid with a 103-87 victory over the New Orleans Hornets on Wednesday night.
Bryant entered the game needing 13 points to eclipse the scoring milestone and did so with a short jumper late in the first half that was perhaps the least spectacular...
Juan Manuel Marquez's newfound muscle raises questions about PED use
Labels: SportsLAS VEGAS – Juan Manuel Marquez said he's "ready to go to war" with Manny Pacquiao, but the presence of an admitted steroids distributor in his corner Saturday night and a vastly more muscular body has skeptics questioning whether it's conventional warfare or chemical warfare he will use.
Marquez will meet Pacquiao for a fourth, and likely final, time on Saturday at the MGM Grand Garden in a 12-round...
Australian Rogers joins Saxo-Tinkoff
Labels: SportsPARIS (Reuters) - Three-times world time-trial champion Michael Rogers has signed a two-year contract with Saxo-Tinkoff, the Dutch team said on Friday.
The 32-year-old Australian left Team Sky after two years with the British outfit, with whom he played a key part in Bradley Wiggins's Tour de France victory in July.
Rogers is set to play the same support role for Spain's Alberto Contador, who will...
Armstrong has three weeks to appeal UCI sanctions
Labels: SportsPARIS (Reuters) - Lance Armstrong has been notified by the UCI that he has been stripped of all the titles he won after July 1998 and the American has three weeks to appeal, a spokesman for cycling's world governing body said on Monday.
"Lance Armstrong's lawyer was notified on 6th December that all his results since 1st August 1998 were nullified. He has 21 days to appeal (from that date)," the...
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