Republican governors in at least six states are being criticized by lawmakers, including some in their own party, over incentives for companies that went bankrupt, faced bribery charges or made political donations before obtaining government funds.
Janet Yellen has won the backing of U.S. labor leaders, including the head of the AFL-CIO, to be the next Federal Reserve chief over Larry Summers because of her support for central bank policies promoting full employment.
Spain’s recession eased in the second quarter as domestic demand stabilized and exports surged, supporting the government’s forecast that the fourth-largest economy in the euro area will recover this year.
Technology stocks are trading at a discount to the market: 13.8x forward earnings vs. 15.7x for the S&P 500. Only banks and energy stocks are cheaper right now. This doesn't happen often. In fact, charting the P/E multiple for the S&P Tech sector reveals that tech valuation currently sits near multi-decade lows.
We are now about five years into the deleveraging, and the related slow global growth, that followed the 2008 financial crisis. My forecast is for another five years of unwinding the excess borrowing by banks worldwide, U.S. consumers and many other sectors.
U.S. Attorney General Eric Holder said the civil rights movement is “work that remains unfinished,” speaking at the commemoration of the 50th anniversary of the Reverend Martin Luther King, Jr.’s “March on Washington for Jobs and Freedom.”