Oct. 13 (Bloomberg) — A widening gap between rich and poor is reshaping the U.S. economy, leaving it more vulnerable to recurring financial crises and less likely to generate enduring expansions. Left unchecked, the decades-long trend toward increasing inequality may condemn Wall Street to a generation of unimpressive returns and even shake social stability, economists [...]
Cautious analysts warned long-suffering shareholders of accident-prone BowLeven not to get too excited after the shares gushed to 123.25p before closing 45.50p or 60 per cent higher at 120.75p on news of a major discovery at Sapele-1 well offshore Cameroon. Even though the company said it has found oil and gas condensate in significant quantities [...]
Assets under management at investment firm Jupiter tumbled 10 per cent to £22.3billion in the past quarter as it fell victim to the stock market carnage over the summer. But Jupiter Fund Management stressed it had shown resilience in the face of declines for the FTSE 100, which fell 14 per cent in the three [...]
EDGEWATER, Colo. — Before the unraveling, Selena Blanco and her family felt secure in their hold on middle class life in this bedroom community just west of Denver. She and her husband both held professional jobs in industries that seemed sheltered from trouble, his in technology, hers in health care. Together they brought home $100,000 [...]
As Yale University economists gathered on Thursday evening to discuss job growth strategies, many warned that a failure to act aggressively risks the increasing possibility of many years of economic stagnation, elevated joblessness and declining living standards. Some suggested that the government must act quickly to put millions of Americans back to work with large-scale [...]
Cabinet colleague and close friend Chris Grayling today leapt to the defence of Liam Fox claiming he was happily married amid ‘wild gossip’ about the Defence Secretary’s sexuality. The Employment Minister spoke out in support of his colleague after it emerged that a ‘young male friend’ had been staying at his flat when it was [...]
MOUNTAIN VIEW, Calif. — Inviting questions, President Barack Obama got one he was happy to answer. “Would you please raise my taxes?” one man asked the president at a town hall here Monday, hosted by the social networking company LinkedIn. The questioner described himself as unemployed by choice after succeeding at a search-engine startup company [...]
MOUNTAIN VIEW, Calif. — Inviting questions, President Barack Obama got one he was happy to answer. “Would you please raise my taxes?” one man asked the president at a town hall here Monday, hosted by the social networking company LinkedIn. The questioner described himself as unemployed by choice after succeeding at a search-engine startup company [...]
CINCINNATI — Needling his top Republican adversaries on their own turf, President Barack Obama stood in the shadow of an outdated and heavily used Ohio River bridge Thursday and called his rivals out by name to demand action on his $447 billion jobs bill. Making a point to choose a bridge linking House Speaker John [...]
For the first time, more than 50 percent of Americans blame President Barack Obama for the nation’s economic woes, a Gallup poll released Thursday finds. An unemployment crisis, falling home values and incomes, the debt ceiling debate and rising poverty may be making Americans less confident in the president’s ability to keep the economy on sound [...]
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