Industry groups urge Congress to renew tax breaks

November 19th, 2014  // News

More than 500 industry groups have urged Congress to renew dozens of expired tax breaks, including the R&D credit, breaks for charitable giving, incentives for business expenses and deductions for local and state sales taxes. Failing to bring back these incentives would be the same as a tax increase on American businesses, according to the groups. Read more

Economist predicts market reaction as Fed alters balance sheet

November 18th, 2014  // News

Changes the Federal Reserve makes to its bond portfolio could have a greater effect on U.S. financial and housing markets than possible interest rate increases would, Fannie Mae chief economist Doug Duncan said Monday. "One would think that they would want to go back to a regime where they're only holding Treasurys. When they start that process there will be a market reaction," he said. Read more

U.S. consumers more optimistic, spending more

November 17th, 2014  // News

U.S. consumer sentiment is up this month, and consumer spending rose in October, boding well for the crucial holiday shopping rush. However, one component of the Thomson Reuters/University of Michigan sentiment index showed inflation expectations falling, posing a challenge for the Federal Reserve's battle against disinflation. Read more

Evolving role of finance is key theme at World Congress of Accountants

November 14th, 2014  // News

Finance is increasingly taking the driver's seat at businesses around the globe, Olivia Kirtley, CPA, CGMA, the new president of the International Federation of Accountants, explained in closing remarks at the World Congress of Accountants in Rome. Read more

Gallup: Confidence in the U.S. economy improves

November 13th, 2014  // News

Confidence in the U.S. economy is at the highest level since June 2013, the latest Gallup poll shows. Last week's poll showed an average -8 confidence rate, an improvement over the -13 to -21 indexes earlier in the year. In June 2013, the index was -3, the highest since 2008. Read more

Market structure, JOBS Act among SEC’s top priorities for 2015, White says

November 12th, 2014  // News

Addressing market structure concerns, finalizing rules governing securities swaps and publishing the final version of Regulation Systems Compliance and Integrity are among the top priorities for the Securities and Exchange Commission in 2015, according to comments made at an industry event by Mary Jo White, head of the agency. She also said she expects the SEC to make progress on the Jumpstart Our Business Startups Act. Read more

Affordable Care Act enrollment forecast for 2015 revised downward

November 11th, 2014  // News

The Obama administration released projections for the 2015 enrollment period of the Affordable Care Act of 9 million to 9.9 million, which is lower than a Congressional Budget Office forecast of 13 million. The administration also adjusted the official enrollment count to 7.1 million as of Oct. 15, down from 7.3 million in August. Read more

Lawmakers Seek Action on Cybersecurity Bill

October 6th, 2014  // News

The cyberattack on JPMorgan Chase has prompted lawmakers to push for advancement of legislation intended to protect Americans against data breaches. "The longer we wait to take action, the more vulnerable we become, and as we've seen today, Americans will pay the price," Sen. Angus King, I-Maine, said after the disclosure that millions of households and businesses had been affected by the hacking. Read more

U.S. Unemployment Rate Dropped to 5.9% in September

October 3rd, 2014  // News

Nonfarm payrolls were up 248,000 in September, according to data released by the Bureau of Labor Statistics today. This was a bit above economists' expectations of around 220,000. The unemployment rate decreased to 5.9% from 6.1%. The number of jobs added in July and August was revised upward as well. Read more

Strengthening Dollar Could Draw Foreign Investors to U.S. Markets

October 2nd, 2014  // News

Global monetary policy trends are expected to keep the U.S. dollar strong for months, if not years, some analysts say. As the dollar rises, U.S. stocks and bonds could become more attractive to foreign investors. Read more

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