The Fiscal Cliff Deal and the Damage Done

Ordinarily we call a deal in which neither side gets what it wants a victory for democracy. Shared sacrifice produces moderation and probity. But any process in which the Speaker of the House tells the Senate Majority Leader “Go f-‍-‍- yourself,” as John Boehner instructed Harry Reid at the height of fiscal cliff madness, deserves just a bit of examination.The Jan. 1 deal, which Wall Street cheered,...

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With Interest Rates Near Zero, What’s a Saver to Do?

Paul Hernandez describes himself as “one of those people who believe in standing on your own two feet.” At age 48 he lost a job as a contract programmer for Princess Cruise Lines, and he hasn’t been employed since. For a long time that was fine. His wife was earning a good salary; they lived frugally, childless and debt-free; and they earned a steady investment income from conservative assets such...

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How to Shop Target Like a Pro

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. X WorkplaceIllustration by Joseph Lambert for Bloomberg BusinessweekThe company’s slogan is “design for all,” but when it comes to the stores, it’s more like design for maximum profit.blog comments powered by Disqus Businessweek.com — Top NewsTitle Post: How to Shop Target Like a ProRating: 100%based on...

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China to keep prudent monetary policy in 2013: central bank

BEIJING (Reuters) – China will stick to a prudent monetary policy next year and keep consumer prices stable, its outgoing central bank governor, Zhou Xiaochuan, said on Monday, in fresh sign that Beijing won’t be changing direction when the new government takes over in 2013.Reiterating China’s long-stated vow to reduce the level of central planning in its economy and make room for more market forces,...

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Crucial day for US budget talks

30 December 2012 Last updated at 08:03 ETPlease turn on JavaScript. Media requires JavaScript to play. US President Barack Obama: “Agreement is being discussed as we speak”US politicians are facing a crucial day of talks aimed at preventing the economy falling over a “fiscal cliff”.Congress must reach a deal by the end of the year to avert steep spending cuts and tax rises due to take effect.President...

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Stock futures drop before last-ditch effort at “cliff” deal

NEW YORK (Reuters) – Stock index futures fell on Friday as President Barack Obama and top lawmakers planned to make a last-ditch effort at budget talks to prevent the United States from going over the “fiscal cliff.”Obama and lawmakers will meet at the White House Friday afternoon for talks before a New Year’s deadline to keep large tax hikes and spending cuts from taking effect and threatening the...

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Stock futures little changed with “cliff” talks to resume

NEW YORK (Reuters) – U.S. stock index futures were little changed on Thursday with legislators due to return to Washington to restart negotiations over the “fiscal cliff“.President Barack Obama will attempt to make another push to resume talks on the cliff, a series of tax hikes and spending cuts set to begin on January 1 which may tip the economy into a recession, on Thursday after returning from...

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Stock futures edge higher ahead of “cliff” talk resumption

NEW YORK (Reuters) – Stock index futures edged higher on Wednesday, indicating the S&P 500 may stem its worst two-day drop since mid-November, ahead of the resumption of “fiscal cliff” negotiations.U.S. President Barack Obama is cutting short his Hawaiian holiday to leave for Washington on Wednesday to address the unfinished negotiations with Congress.Obama is due to arrive in Washington on Thursday...

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Suing the Senate to Kill the Filibuster

Senate Majority Leader Harry Reid has it in for the filibuster. “I think the rules have been abused, and we are going to work to change them,” he told reporters soon after the election. The Nevada Democrat is worked up because Republicans have used it to hold up legislation 389 times since 2007. “We will not do away with the filibuster,” Reid said, but “we are going to make it so we can get things...

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Markets steady amid Xmas exodus, US budget doubts

LONDON (AP) — Financial markets were largely steady in holiday-thinned trading Monday though concerns remain over the progress of U.S. budget discussions and the future of the economic reform program in Italy.For weeks, the discussions between the White House and Congress over a budget deal have been the main driver in markets. If a deal isn’t agreed to by the start of 2013, automatic spending cuts...

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China and India: The $10 Trillion Engine of Future U.S. Growth

My friend and colleague Michael J. Silverstein, writing in this space in late October, mentioned that the most dangerous thing about China is America’s misguided attitude toward the country. In short, we appear to be afraid of China’s success.The U.S. has never before run from a challenge. This is the wrong time to start.As Silverstein and his co-authors—Carol Liao, David Michael, and Abheek Singhi—point...

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Our Best Photos of 2012

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. X EntertainmentPosted on December 21, 2012More SlideshowsThe Corporate Apology Tour, via InstagramWill Mark Sanchez Join the Biggest Quarterback Busts?The 20 extraordinary images selected here represent the very best of this year’s photography in Bloomberg Businessweek magazine. From Platon’s arresting...

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He’s 28, and Here to Take Over Your Company

Ryan Morris spent a week steeling himself for the showdown. Then 27 years old, he was in his first campaign as an activist investor, trying to wrest control of a small company named InfuSystem (INFU), which provides and services pumps used in chemotherapy. In the meeting, Morris would confront InfuSystem’s chairman and vice chairman, two men in their 40s, and tell them that as a shareholder, he thought...

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The Most Powerful Woman in Finance

Those who know her describe Abigail Johnson as steely and extremely serious, qualities that come across in photographs: Whippet-thin, she’s almost always wearing glasses, her fine features and blue eyes rarely revealing more than a slight smile. An heiress to a Boston family fortune—with a personal net worth estimated by the Bloomberg Billionaires index at $ 10 billion—she’s one of the world’s...

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