Your 12 hourly digest for Business News, Financial News, Business Headlines & Analysis - The Washington Post

Business News, Financial News, Business Headlines & Analysis - The Washington Post The source for business news and analysis. Covering economic policy, business policy, financial news, economic issues, stock market data, local business, technology and more.

'Fiscal cliff' talks bogged down by dispute over cost of retirement programs Nov 29th 2012, 00:58 Negotiations to avert the year-end "fiscal cliff" advanced at a glacial pace Wednesday, with a dispute over how to tackle the soaring cost of federal retirement programs emerging as the latest roadblock to progress. Read full article >> Reconciliation Nov 29th 2012, 00:00 Cambridge scholars are studying the possibility that robots might kill us all. Rajiv Sethi has much more on the CFTC's crackdown of Intrade. Why do government regulators think that prediction markets have no value to the public? Read full article >> Obama's economic philosophy, in 8 charts Nov 28th 2012, 22:27 If you look at President Obama's biography and policies, you see one unifying theme more than any other: Obama wants to reduce income inequality. His policies seem designed to achieve other objectives. The 2009 stimulus sought to end the recession. The 2010 Affordable Care Act strove to expand health-care coverage as widely as possible. And in the upcoming tax policy debate, Obama is seeking to shrink the nation's deficits over time. But in each case, Obama is also trying to reverse three decades of growing income disparity in the United States. Read full article >> Climbers' junk becomes artists' treasure Nov 28th 2012, 21:23 The human race has littered on Mars, so it should come as no surprise that Mount Everest has also fallen under a layer of refuse. But, unlike Mars, the trash on Everest is being collected and turned into art. Read full article >> CBO: Extending unemployment benefits could save 300,000 jobs next year Nov 28th 2012, 21:06 If you've read our fiscal cliff explainer, you'll know that a bunch of tax hikes and spending cuts are scheduled to kick in at the end of 2012. Right now, lawmakers are mainly focused on the big items here—the expiration of the Bush tax cuts and the sequester. Read full article >> Playing for the Powerball lottery jackpot? Here's some advice. Nov 28th 2012, 19:52 Featuring a record breaking $500 million jackpot, the Powerball stakes will be particularly high during Wednesday night's drawing. The jackpot is expected to keep growing until the drawing, and Maggie Fazeli Fard offers advice on what you should do if you win: Read full article >> Washington area unemployment rate dropped to 5.3% in October Nov 28th 2012, 19:40 The unemployment rate in the Washington region dipped to 5.3 percent in October, according to a Labor Department report released Wednesday, with the strongest job growth coming from the education and health services sector and the professional services industry. Read full article >> No, the stock market isn't freaking out (yet) over the austerity crisis Nov 28th 2012, 19:22 Reading one headline Wednesday morning, you might be inclined to think the sky is already starting to fall on the U.S. market because of the austerity crisis. "Fiscal worries weigh on Wall Street," declared the Financial Times. "U.S. equities markets gyrated in morning trading on Wednesday as investors reacted to headlines coming out of Washington on the fiscal cliff." Read full article >> Romney is Wall Street's worst bet since the bet on subprime' Nov 28th 2012, 18:59 Chrystia Freeland is editor of Thomson Reuters Digital and author of "The Plutocrats: The Rise of the New Global Super Rich and the Fall of Everyone Else." We spoke Tuesday about how the plutocrats she reported on for the book were handling Mitt Romney's loss. A lightly edited transcript of our conversation follows. Read full article >> EPA suspends BP from new federal contracts in wake of oil spill Nov 28th 2012, 18:29 The Environmental Protection Agency has suspended BP from bidding on any new federal contracts, including drilling leases, as a result of the company's conduct during the Deepwater Horizon oil rig disaster that led to 11 deaths and the largest U.S. offshore spill. Read full article >> Do millionaires move to avoid high taxes? Nov 28th 2012, 16:25 In 2009, faced with a heavy debt burden and plummeting tax revenue, then-British Prime Minister Gordon Brown introduced a new 50 percent tax bracket on income over 1 million (about $1.6 million). Did it work? Read full article >> Understanding the Doha climate talks, in three easy charts Nov 28th 2012, 15:43 It's that time of year again — when the nations of the world get together and at least try to look like they're doing something about global warming. The U.N. climate talks are currently underway in Doha, Qatar, and expectations have already been dialed way down: "negotiators and experts all warned that the two-week session would only lay the groundwork for a potentially ambitious global-warming pact by the end of the decade." Not auspicious. Read full article >> Grover Norquist is winning Nov 28th 2012, 15:18 You might think that Grover Norquist would be in hiding right now. Republicans are parading before the cameras, one after the other, to proclaim their intention of breaking his anti-tax pledge. And yet Norquist is everywhere. He's doing television shows and talking with reporters. Wednesday, he was the headline guest at Politico's Playbook Breakfast. Read full article >> Sorry, Warren Buffett, Jamie Dimon probably wouldn't make a great Treasury Secretary Nov 28th 2012, 15:03 Warren Buffett, the billionaire investor, thinks that J.P. Morgan chief executive Jamie Dimon would be a bang-up Treasury secretary when Tim Geithner steps down in the near future. "I think Jamie Dimon actually would be, I think he'd be terrific," Buffett told Charlie Rose on PBS Monday night. Read full article >> High-powered 'Fix the Debt' group draws attention, scrutiny in Washington Nov 28th 2012, 13:33 In the discussions over the "fiscal cliff" currently consuming Washington, a new, muscular group stands out, touting the virtue of bipartisanship and shared sacrifice. The business leaders who set up "Fix the Debt" appear nearly every day on network talk shows and have won coveted time with President Obama in pushing for increased tax revenue, reduced government spending and changes to Social Security and Medicare. The group's members will meet Wednesday with leaders of both parties on Capitol Hill and return, yet again, to the White House. Read full article >> A look at the Trump hotel planned for the Old Post Office pavilion Nov 28th 2012, 11:00 It's been nine months since the federal government chose Donald Trump to turn the Old Post Office pavilion into a luxury hotel, and in that time Trump and his development team, headed by his daughter Ivanka, have been working through the myriad details of redeveloping a building on the National Register of Historic Places in downtown Washington. Read full article >>

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