C.W. “Bill” Young, the longest- serving Republican in Congress, who rose to the top seat on the House Appropriations Committee and exerted his influence on defense and health spending, has died. He was 82.
A battle for control of the Republican Party has erupted as an emboldened Tea Party moved to oust senators who voted to reopen the government while business groups mobilized to defeat allies of the small-government movement.
Germany’s next government won’t need to raise top income-tax rates to ease burdens on lower earners and pay for infrastructure spending, the nation’s top economic institutes said, contradicting opposition demands.
No matter which deal ultimately resolves the U.S. government shutdown, it’s almost certain to include a new bicameral budget commission. This will be the eighth major budget commission since 2010. Until now, every single one of them has failed for the same reason: taxes. And if nothing changes, this one will fail too.
Thailand kept its benchmark interest rate unchanged for a third meeting, refraining from monetary easing even as the threat of a U.S. default adds to growth risks from delayed government spending and weakening local demand.
Amara Raja Batteries Ltd., backed by the largest U.S. auto-parts maker, is setting up a plant to make batteries for home backup power systems to revive profit growth that’s slowing amid weakening car sales in India.