Trump retracts from tax cuts in the wake of US recession fears


  As global markets are witnessing a slowdown and ongoing trade war between US and China, on the other hand, changes in US tax policy are expected to contain the damage, which may affect the US economic outlook in the future. After much speculation however on expected changes in the US tax policy front, PresidentContinue reading “Trump retracts from tax cuts in the wake of US recession fears”

Voters hopeless on the eve of US Senate elections


Voters in the US Senate elections are not optimistic even though the economy improved with six months of growth, gasoline below $3/gallon for the first time in last four years and considerable deficit reduction. However, voters are tired from economic struggles and threats posed by the Islamic State and the spread of Ebola virus. AsContinue reading “Voters hopeless on the eve of US Senate elections”

The Economist on “Gold Craze” in India


The Economist summed up the reason behind the gold craze of an Indian individual saying: “At the individual level, then, the gold craze makes sense. But in aggregate it is a disaster for India. Imports of bullion impose a massive strain on its balance of payments—amounting to $54 billion in the year to March 2013.”Continue reading “The Economist on “Gold Craze” in India”

Working moms are breadwinners for 40% US households: Pew Research Center report


American working mothers have earned a new distinction of being the primary breadwinners in a record 40 percent of households with children. The milestone is said to be changing the face of modern families in America where earlier the numbers just used to be about 11 percent in 1960. The report was released by PewContinue reading “Working moms are breadwinners for 40% US households: Pew Research Center report”

Jobless claims hit another 5-year low in US, positive sign for the economy


Jobless claims in US have fallen to another five-year low previous week, given out a positive signal that layoffs are back to pre-recession figures. As many as 323,000 people filed for their first-week of unemployment benefits last week according to the Labor Department. It’s the lowest level in any single week since January 2008, andContinue reading “Jobless claims hit another 5-year low in US, positive sign for the economy”

Obama seeks to bring Republicans in negotiation mode on Budget, softens stance


The $3.778 trillion spending proposal of President Barack Obama for the next year features few measures to slow the spending growth on Social Security, Medicare etc., With a view to bring Senate Republicans to the table for negotiations. The White House administration has said that it is ready to accept any benefit changes only if theyContinue reading “Obama seeks to bring Republicans in negotiation mode on Budget, softens stance”

US Unemployment rate fell in March but Jobs creation figures dismal


The unemployment rate in US fell to 7.6 percent in the month of March. However just 88,000 jobs were added. This is causing concern as experts are of the view that the economy is beginning to cool after witnessing some strong months in the past. Although, the Friday’s jobs report is due, economists are expectingContinue reading “US Unemployment rate fell in March but Jobs creation figures dismal”

Bond Purchases to be raised by Bank of Japan as Kuroda takes over control


The newly appointed Governor Haruhiko Kuroda has begun initiatives to end 15 years of deflation by doubling the quantity of monthly bond purchases to reach 2 percent inflation within two years. As Kuroda presided over his first meeting since swearing in the office last month, the board today rationalized its asset purchase programs and temporarilyContinue reading “Bond Purchases to be raised by Bank of Japan as Kuroda takes over control”

Researchers claim William Shakespeare was callous businessman


Not most of us would associate the professional traits of a Hoarder, moneylender, and tax dodger with William Shakespeare. This may be shocking news for all Shakespeare fans but according to a group of academic researchers, Shakespeare had all these traits in him. The researchers argue that the novelist was a callous businessman who madeContinue reading “Researchers claim William Shakespeare was callous businessman”

Novartis loses Glivec patents case in India


The apex Indian court rejected Swiss based pharmaceutical company Novartis AG’s plea for retaining patent of its cancer drug Glivec. The development has the potential for better prospects for Indian pharmaceutical firms over well placed foreign brands. According to analysts, the Supreme Court has set a legal precedent with this decision where it refuses toContinue reading “Novartis loses Glivec patents case in India”