Economics

President Obama Calls for Free Trade Agreement With the European Union

February 17, 2013

“Negotiations are not expected to be easy, with entrenched interests, especially in protected sectors of the agriculture industry, fighting to maintain their subsidies and preferences.”

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Washington Post: 4 Things to Know About President Obama’s Proposed Minimum Wage Increase

February 14, 2013

“According to a 2007 study by the CBO, an increase in the minimum wage to $7.25, like that eventually passed that year, would increase wages by $11 billion, of which $1.6 billion went to poor families.”

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Officials: Purchase Orders Reveal Iranian Purchase of Ring-Shaped Magnets for Nuclear Enrichment

February 13, 2013

“The revelation of the new orders for nuclear-sensitive parts coincides with Iran’s announcement that it plans to add thousands of more-advanced, second-generation centrifuges that would allow it to ramp up its production of enriched uranium even further, analysts said.”

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State of the Union Address: President Obama Promotes Infrastructure Spending and Repair

February 13, 2013

“Tonight, I propose a “Fix-It-First” program to put people to work as soon as possible on our most urgent repairs, like the nearly 70,000 structurally deficient bridges across the country.”

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State of the Union Address: President Obama Advocates for the Creation of Manufacturing Jobs

February 13, 2013

“Our first priority is making America a magnet for new jobs and manufacturing.”

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State of the Union Address: President Obama Praises Scientific and Medical Research

February 13, 2013

“If we want to make the best products, we also have to invest in the best ideas. Every dollar we invested to map the human genome returned $140 to our economy.”

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State of the Union Address: President Obama Proposes Raising Minimum Wage to $9 an Hour

February 13, 2013

“President Barack Obama wants an increase in the minimum hourly wage from the current $7.25 to $9 by the end of 2015. Obama also proposes the minimum wage be required to keep pace with inflation.”

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China Surpasses the United States as the World’s Biggest Trading Partner in 2012

February 10, 2013

“U.S. exports and imports of goods last year totaled $3.82 trillion, the U.S. Commerce Department said last week. China’s customs administration reported last month that the country’s trade in goods in 2012 amounted to $3.87 trillion.”

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European Union Leaders Meeting at Brussels Conference Reach Agreement on Broad 7-Year Budget Framework

February 8, 2013

“The officials said around 12 billion euros would be cut from the last budget proposal, made at a summit in November when agreement eluded leaders, bringing the headline ceiling for spending down to 960 billion over the full 2014-2020 plan.”

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China: In January, Exports Increase 25%; Imports Up 28%

February 8, 2013

“China reports surge in January trade; exports jump 25 percent, imports 28 percent.”

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European Central Bank President’s Concerns About Currency Push Euro Value Even Lower

February 8, 2013

“Mario Draghi said on Thursday that the exchange rate is important for growth and price stability and that he wants to see “whether the appreciation is sustained and will alter our risk assessment as far as price stability is concerned.”

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Brussels Summit Chair Herman Van Rompuy Urges Compromise on the European Union (EU) Budget

February 8, 2013

“The Brussels summit chair, Herman Van Rompuy, urged them to compromise and keep the EU budget focused on growth, innovation and creating jobs.”

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Reserve Bank of Australia Cuts Economic Growth and Inflation Projections

February 8, 2013

“The Reserve Bank of Australia reduced its economic growth and inflation forecasts as investment outside the mining industry remains elusive, the labor market softens and a high local currency contains prices.”

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U.S. Coal Exports to Europe Increased 26% in 2012

February 7, 2013

“The new dependence on one of the dirtiest fuels shows just how challenging it is to maintain pressure to go green, analysts and officials say, and demonstrates the far-reaching effects of America’s natural gas boom.”

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Political and Economic Uncertainty in Spain Force More Borrowing at Triple-Bond Auction

February 7, 2013

“In all, it sold 4.6 billion euros worth of the three bonds, slightly higher than the top end of its target range. Demand was strong, continuing the trend from January when Spain saw yields on shorter-term paper falling to ten-month lows.”

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