Economy

Independent Bookselling Expanded Again in 2022

NEW YORK (AP) — Near the end of 2021, Jessica Callahan was living in Columbus, Ohio, working as a social... Read More

NEW YORK (AP) — Near the end of 2021, Jessica Callahan was living in Columbus, Ohio, working as a social science researcher and wondering if there was a better way to support herself. Her friends Julie Ross and Austin Carter... Read More

2023-05-19 19:07:12
by TWN Staff
Experts Ponder Economic Consequences of Default

WASHINGTON — Republicans are pointing to the Democrats, Democrats are blaming Republicans, but one thing all agree on: If the... Read More

WASHINGTON — Republicans are pointing to the Democrats, Democrats are blaming Republicans, but one thing all agree on: If the U.S. defaults on its debt, the results could be catastrophic. The Center for American Progress, a liberal public policy research... Read More

2023-05-19 18:34:05
by Dan McCue
Debt Ceiling Talks Reach Impasse as Republicans Balk at Continuing

WASHINGTON — Frustrated Republicans walked out of debt ceiling talks on Friday, unexpectedly bringing a halt to the critical negotiations... Read More

WASHINGTON — Frustrated Republicans walked out of debt ceiling talks on Friday, unexpectedly bringing a halt to the critical negotiations just days before the United States faces the first ever default on its financial obligations. “We decided to press pause... Read More

Debt Ceiling Showdown: Biden and Congressional Leaders to Meet as McCarthy Pushes for Faster Deal

WASHINGTON (AP) — President Joe Biden is ready to discuss the debt ceiling with congressional leaders at the White House in a... Read More

WASHINGTON (AP) — President Joe Biden is ready to discuss the debt ceiling with congressional leaders at the White House in a high-profile session with reverberations across the globe as early outlines of a potential deal begin to emerge from painstakingly slow negotiations. Raising... Read More

2023-05-12 21:42:36
by Dan McCue
Biden, Congressional Leaders Postpone Debt Ceiling Meeting

WASHINGTON — There will be no meeting between President Joe Biden and congressional leaders over the debt ceiling on Friday... Read More

WASHINGTON — There will be no meeting between President Joe Biden and congressional leaders over the debt ceiling on Friday after they mutually agreed to give staff more time to work out the framework of a deal. Biden, House Speaker... Read More

G7 Finance Ministers Seek Ways to Spur Global Economy as Debt Risks Loom

NIIGATA, Japan (AP) — Financial leaders of the Group of Seven advanced economies are discussing ways to support Ukraine and... Read More

NIIGATA, Japan (AP) — Financial leaders of the Group of Seven advanced economies are discussing ways to support Ukraine and pressure Russia to end the war as they meet in Japan starting Thursday. Ukraine's finance minister, Serhiy Marchenko, was participating... Read More

2023-05-04 17:18:39
by Dan McCue
SURVEY: Corporate CEO’s Bracing for Short, Shallow Recession

NEW YORK — A large and growing number of corporate CEO’s are preparing for what they believe will be a... Read More

NEW YORK — A large and growing number of corporate CEO’s are preparing for what they believe will be a brief and shallow recession in the next 12 to 18 months, according to The Conference Board, the business membership and... Read More

Democrats Pressure GOP on Debt Limit, Spending Cuts

WASHINGTON (AP) — Senate Democrats are pressuring Republicans on the debt ceiling impasse with a hearing Thursday focused on what... Read More

WASHINGTON (AP) — Senate Democrats are pressuring Republicans on the debt ceiling impasse with a hearing Thursday focused on what they say are the the painful reductions in government services Americans would suffer if a bill recently passed by the House were... Read More

Hollywood Writers, Slamming 'Gig Economy,' to Go on Strike

NEW YORK (AP) — Television and movie writers declared late Monday they will launch a strike for the first time... Read More

NEW YORK (AP) — Television and movie writers declared late Monday they will launch a strike for the first time in 15 years, as Hollywood girded for a walkout with potentially widespread ramifications in a fight over fair pay in... Read More

2023-05-01 21:43:48
by Dan McCue
Yellen Warns US Could Run Out of Money by June 1

WASHINGTON — Treasury Secretary Janet Yellen said in a letter sent to House Speaker Kevin McCarthy, R-Calif., on Monday that... Read More

WASHINGTON — Treasury Secretary Janet Yellen said in a letter sent to House Speaker Kevin McCarthy, R-Calif., on Monday that the United States could reach the point when it can no longer satisfy its debt obligations as early as June... Read More

2023-04-25 18:33:41
by Dan McCue
GOP Debt Ceiling Proposal Declared DOA by OMB

WASHINGTON — It came as no surprise, but the House Republican debt-ceiling plan known as the “Limit, Save, Grow Act... Read More

WASHINGTON — It came as no surprise, but the House Republican debt-ceiling plan known as the “Limit, Save, Grow Act of 2023” will be dead on arrival should it somehow make it to President Joe Biden’s desk, the White House... Read More

What's Behind the Looming 'X-Date' on the US Debt Limit?

WASHINGTON (AP) — In January, the U.S. government ran up against its legal borrowing limit of $31.381 trillion, and the... Read More

WASHINGTON (AP) — In January, the U.S. government ran up against its legal borrowing limit of $31.381 trillion, and the Treasury Department began implementing “extraordinary measures” to avoid missing payments on its bills. That started speculation about the “x-date" — the date... Read More

2023-04-17 20:20:21
by Dan McCue
McCarthy Blames Biden for Debt Ceiling Impasse in Wall Street Speech

WASHINGTON — House Speaker Kevin McCarthy, R-Calif., traveled to Wall Street on Monday to both blame President Joe Biden for... Read More

WASHINGTON — House Speaker Kevin McCarthy, R-Calif., traveled to Wall Street on Monday to both blame President Joe Biden for the ongoing impasse over raising the nation’s debt ceiling and announce that the chamber’s Republican Conference intends to move its... Read More

US Tax Breaks Lure European Clean Tech Companies as EU Lags

LONDON (AP) — Norwegian startup Freyr will first build batteries to power electric vehicles and store clean energy in a... Read More

LONDON (AP) — Norwegian startup Freyr will first build batteries to power electric vehicles and store clean energy in a remote town near the Arctic Circle. Up next? An Atlanta suburb. That's because a new U.S. clean energy law offers generous tax... Read More

2023-04-13 12:55:05
by Kate Michael
FDIC Vice Chair Warns Against Overcorrection

WASHINGTON — In his first significant policy address since joining the Federal Deposit Insurance Corporation as vice chair, Travis Hill... Read More

WASHINGTON — In his first significant policy address since joining the Federal Deposit Insurance Corporation as vice chair, Travis Hill warned Washington to “avoid the temptation to overcorrect.” Offering some background and lessons learned from recent bank failures at the... Read More

2023-04-11 20:10:50
by Dan McCue
Potential Water Supply Reductions Proposed for Western States

WASHINGTON — The Biden administration on Tuesday proposed cutting water allotments from the Colorado River in a potentially precedent-setting bid... Read More

WASHINGTON — The Biden administration on Tuesday proposed cutting water allotments from the Colorado River in a potentially precedent-setting bid to save the waterway by dramatically reducing the water Arizona, California and Nevada draw from it. Along with the Rio... Read More

2023-04-07 17:04:28
by Kate Michael
World Bank President Warns of ‘A Lost Decade for Growth’

WASHINGTON — As World Bank President David Malpass prepares to leave his position in June 2023, he worries about the... Read More

WASHINGTON — As World Bank President David Malpass prepares to leave his position in June 2023, he worries about the very real possibility of global recession, and he fears that the next 10 years could be “a lost decade for... Read More

2023-03-03 20:00:12
by Dan McCue
Proximity to Large-Scale PV Projects Can Adversely Affect Home Prices

BERKELEY, Calif. — An analysis of the impact of construction of large-scale solar energy projects on nearby residential home values... Read More

BERKELEY, Calif. — An analysis of the impact of construction of large-scale solar energy projects on nearby residential home values found the decline in property values varied significantly by state, but averaged out to a home sale price reduction of... Read More

2023-02-28 21:33:51
by Dan McCue
Commerce Dept. Rolls Out First CHIPS Funding

WASHINGTON — The Commerce Department on Tuesday announced the availability of the first tranche of a total $50 billion in... Read More

WASHINGTON — The Commerce Department on Tuesday announced the availability of the first tranche of a total $50 billion in funding intended to grow and revitalize the nation’s homegrown semiconductor industry. The first funding opportunity seeks applications for projects to... Read More

Survey: Business Economists Push Back US Recession Forecasts

WASHINGTON (AP) — A majority of the nation’s business economists expect a U.S. recession to begin later this year than... Read More

WASHINGTON (AP) — A majority of the nation’s business economists expect a U.S. recession to begin later this year than they had previously forecast, after a series of reports have pointed to a surprisingly resilient economy despite steadily higher interest rates. Fifty-eight... Read More

2023-02-24 01:46:28
by Dan McCue
Vilsack Sees Next Farm Bill as Opportunity to Diversify Ag Sector

ARLINGTON, Va. — U.S. Agriculture Secretary Tom Vilsack urged Congress on Thursday to use the upcoming farm bill reauthorization as... Read More

ARLINGTON, Va. — U.S. Agriculture Secretary Tom Vilsack urged Congress on Thursday to use the upcoming farm bill reauthorization as an opportunity to encourage America’s farmers to diversify and “create multiple profit centers” in their farming operations. Speaking at the... Read More

Retail Sales Jump as Americans Defy Inflation and Rate Hikes

WASHINGTON (AP) — America's consumers rebounded last month from a weak holiday shopping season by boosting their spending at stores and restaurants... Read More

WASHINGTON (AP) — America's consumers rebounded last month from a weak holiday shopping season by boosting their spending at stores and restaurants at the fastest pace in nearly two years, underscoring the economy's resilience in the face of higher prices and multiple interest... Read More

2023-01-30 20:08:54
by Dan McCue
‘Building Resilient Communities’ Gives Local Concerns a Voice in DC

WASHINGTON — What consumes those inside the beltway and in mainstream media doesn’t always reflect the realities of mainstream Americans... Read More

WASHINGTON — What consumes those inside the beltway and in mainstream media doesn’t always reflect the realities of mainstream Americans or the communities in which they live. That was the consistent theme that emerged from last week’s “Building Resilient Communities”... Read More

2023-01-28 01:15:37
by Dan McCue
The Rise of Contractors Screams Out for a Rethinking of Policy

WASHINGTON — Hard as it may be to believe, a revolution really did take place while we were all inside,... Read More

WASHINGTON — Hard as it may be to believe, a revolution really did take place while we were all inside, hoping the dark, early shadow of COVID-19 would somehow pass us by.  According to Liz Wilke, principal economist with Gusto,... Read More

2023-01-27 18:40:10
by Dan McCue
‘Resilient Communities’ Breakfast Jumpstarts Conversation on the Modern Economy

WASHINGTON — Connie E. Evans, president and CEO of the Association for Enterprise Opportunity, smiled broadly Thursday as she surveyed... Read More

WASHINGTON — Connie E. Evans, president and CEO of the Association for Enterprise Opportunity, smiled broadly Thursday as she surveyed the early morning crowd gathered to hear her and other speakers at Charlie Palmer Steak. “It’s seldom, at least in... Read More

EVENT | Building Resilient Communities: Leveraging Employers to Increase Prosperity

Our #CollaborativeEconomies discussion featured case studies that explore the vital relationship between employers and their communities. As the 118th Congress... Watch Video

Our #CollaborativeEconomies discussion featured case studies that explore the vital relationship between employers and their communities. As the 118th Congress prepares to address a host of economic issues, this discussion touched on important questions facing decision makers including how legislators,... Watch Video

As US Nears Debt Limit, Political Frictions Raising Alarms

WASHINGTON (AP) — The countdown toward a possible U.S. government default is in the offing — with frictions between President Joe Biden... Read More

WASHINGTON (AP) — The countdown toward a possible U.S. government default is in the offing — with frictions between President Joe Biden and House Republicans raising alarms about whether the U.S. can sidestep a potential economic crisis. The Treasury Department projects that the federal... Read More

Elon Musk Depicted as Liar, Visionary in Tesla Tweet Trial

SAN FRANCISCO (AP) — Elon Musk was depicted Wednesday as either a liar who callously jeopardized the savings of “regular... Read More

SAN FRANCISCO (AP) — Elon Musk was depicted Wednesday as either a liar who callously jeopardized the savings of “regular people" or a well-intentioned visionary as attorneys delivered opening statements at a trial focused on a Tesla buyout that never... Read More

Job Cuts in Tech Sector Spread, Microsoft Lays Off 10,000

Microsoft is cutting 10,000 workers, almost 5% of its workforce, joining other tech companies that have scaled back their pandemic-era... Read More

Microsoft is cutting 10,000 workers, almost 5% of its workforce, joining other tech companies that have scaled back their pandemic-era expansions. The company said in a regulatory filing Wednesday that the layoffs were a response to “macroeconomic conditions and changing... Read More

At Davos, UN Chief Warns the World Is in a 'Sorry State'

DAVOS, Switzerland (AP) — The world is in a “sorry state" because of myriad interlinked challenges including climate change and... Read More

DAVOS, Switzerland (AP) — The world is in a “sorry state" because of myriad interlinked challenges including climate change and Russia's war in Ukraine that are “piling up like cars in a chain reaction crash,” the U.N. chief said at... Read More

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