This week started with President Obama Monday demanding lawmakers raise the U.S.’s $16.4 trillion debt ceiling, warning Republicans not to insist on spending cuts in return. The same day, Federal Reserve Chairman Ben Bernanke advocated getting rid of the debt limit altogether. The Washington Post reports in a conversation at […]
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Chinese Economy Expanded at End of 2012, Data Shows
The giant Chinese economy picked up steam during the last few months of 2012, closely watched data from Beijing on Friday confirmed. But at the same time the figures underlined the view that the pace of future growth is likely to remain well below that seen in recent years. China’s […]
Citi Clears the Deck on Q4 Earnings
Citigroup (C) reported earnings well below analysts expectations for the fourth-quarter sending shares lower in early trading. The jumbo-sized super bank saw trading revenues rebound but took a $2.32 billion charge for legal fees and lay-offs. New CEO Michael Corbat said the company continues to be hampered by regulatory matters […]
