IMF scales back forecast for world’s economic growth

October 7th, 2015  // News

The International Monetary Fund has lowered its projection for the world's economic growth this year from the 3.3% forecast it made in July to 3.1%. The change is a response to the slowing of emerging-market economies triggered by falling commodity prices. The IMF warned emerging economies to prepare for a tightening of monetary policy by the US. Read more

OECD publishes new international tax rules

October 6th, 2015  // News

The Organization for Economic Cooperation and Development has published an overhaul of corporate tax rules meant to stop companies from using a technique known as "profit shifting" to move profits to low-tax jurisdictions. The rules are expected to help governments recoup as much as $240 billion in lost revenue annually. Read more

US unable to prevent repeat of 2008 crisis, policymakers say

October 5th, 2015  // News

Current and former government officials at a Federal Reserve Bank of Boston conference agreed that US financial regulators can't be expected to prevent another financial crisis like the one that hit in 2008, because they don't know yet what they need to do. Financial stability is a goal that hasn't been reached, Fed officials said. Read more

US payrolls grew by 142,000 jobs in September

October 2nd, 2015  // News

The economy gained 142,000 jobs last month, according to the Labor Department, which was below economists' expectations. The unemployment rate remained unchanged at 5.1%. Previously reported payroll gains during August and July were revised downward. Read more

Obama allows stopgap spending to head off government shutdown

October 1st, 2015  // News

President Barack Obama has signed a funding measure that keeps the US government open until Dec. 11, doing so only hours before a midnight deadline. Read more

US exports could fall this year for the first time since the recession

September 30th, 2015  // News

US exports dropped by a seasonally adjusted 3.2% in August, and the economy is on pace for its first yearly decline in exports since the recession. Weak foreign demand and a strong US dollar are among the reasons for the trend. Read more

Urgent issues challenge accounting profession

September 29th, 2015  // News

At a time of unprecedented change, accounting profession leaders express three broad areas of concern. The success of the profession in the future may depend on accountants' ability to maintain their relevance, manage staffing shortages and adjust to changes brought about by technology. Read more

How Boehner’s resignation affects the funding debate

September 28th, 2015  // News

House Speaker John Boehner, who announced his resignation Friday, said that lawmakers would avert a government shutdown this week. However, analysts note that Boehner's resignation could complicate future debates over funding the government and raising the debt ceiling, particularly as the Federal Reserve considers an interest-rate hike. Read more

US legislators work on bills to avert government shutdown

September 25th, 2015  // News

Lawmakers are discussing legislation that would avoid a US government shutdown Thursday. The Senate has cleared the way for a bill extending all previous funding through early December and is scheduled to vote Monday. House Speaker John Boehner is working on a couple of options, aides say. Read more

US manufacturing stuck in low gear in September

September 24th, 2015  // News

US manufacturing activity remains at a nearly two-year low this month, and job creation in the sector has slowed. Markit's purchasing managers' index registered 53, indicating sluggishness due in part to the strong dollar and suggesting "the sector will have acted as a drag on the economy in the third quarter," said Markit's chief economist, Chris Williamson. Read more

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