California’s recent announcement that it had balanced its budget for the first time since the 2007-08 fiscal year received broad coverage. Yet next to nothing has been said about the change in the state’s spending priorities over that six-year period.
The chief executives of large banks including Goldman Sachs Group Inc. and JPMorgan Chase & Co. will meet with President Barack Obama tomorrow as Wall Street urges Congress to end the budget stalemate in Washington.
Luxottica Group SpA , the Italian owner of the Ray-Ban sunglasses brand, raised 500 million euros ($702 million) from its first benchmark bond issue as the country struggles with the fallout from Europe’s budget crisis.
Congress needs to think “long and hard about the message” the partial government shutdown sends overseas about U.S. credibility, Secretary of State John Kerry said, urging lawmakers to “end it now, end it today.”
Benjamin Netanyahu came to the U.S. to challenge what he called a “charm offensive” by Iran. The Israeli prime minister hasn’t found it easy getting his counterattack to resonate in a country preoccupied by domestic concerns and wary of foreign involvement.
Illinois, which shares the worst state credit rating with California, is draining its pension funds as candidates for governor promote plans that would cover less than a quarter of a record budget gap.