Liz Cheney has decided to drop out of the Senate primary after her bid to unseat Wyoming Sen. Mike Enzi sparked a round of warfare in the Republican Party and even within her own family. The official announcement from Liz Cheney – the eldest daughter of former Vice President Dick Cheney – could come as… Continue reading Liz Cheney drops out of Wyoming Senate race
Category: Economy & Politics
Economy and Politics news articles.
Bangladesh election 2014: Clashes in boycotted poll
Bangladeshi opposition activists and police clashed as the country is holding a general election boycotted by the opposition. At least three people were killed in unrest on Sunday. Scores have died in the run-up to the polls. Dozens of polling stations have been torched and voting is suspended at more than 100. Polling is said… Continue reading Bangladesh election 2014: Clashes in boycotted poll
Manmohan Singh to retire after polls
India’s PM Manmohan Singh has announced that he will not stay in the post if his Congress party wins the next election, due in the summer. Manmohan Singh, 81, has been India’s prime minister for almost a decade. He said a Congress candidate would be named at the appropriate time, but that deputy leader Rahul… Continue reading Manmohan Singh to retire after polls
Rob Ford files re-election paper for Toronto municipal poll
Disgraced Toronto Mayor Rob Ford has filed re-election papers. Rob Ford – who admitted to once smoking crack cocaine while in a “drunken stupor” – revealed his new campaign slogan: “Ford more years.” “I’ve got the strongest track record,” he told journalists. “I’ve been the best mayor this city has ever had.” Rob Ford is… Continue reading Rob Ford files re-election paper for Toronto municipal poll
Latvia joins eurozone on New Year’s Day
Latvia has joined the eurozone as of 1st of January 2014, becoming the 18th member of the group of EU states which uses the euro as its currency. The former Soviet republic on the Baltic Sea recently emerged from the financial crisis to become the EU’s fastest-growing economy. Correspondents report much skepticism in the country… Continue reading Latvia joins eurozone on New Year’s Day
Bill de Blasio sworn in as New York City’s new mayor
Bill de Blasio, the first Democrat in more than two decades, has been sworn in as the new mayor of New York City. Bill de Blasio took the oath of office outside his home a few minutes into the New Year, in line with tradition. A grander inauguration ceremony will take place later at City… Continue reading Bill de Blasio sworn in as New York City’s new mayor
ObamaCare health reforms come into effect
Millions of people in the US receive health insurance cover for the first time as ObamaCare healthcare reforms – Affordable Act Care – come into effect as of 1st of January 2014. President Barack Obama’s reforms are part of his aim to ensure affordable healthcare is available to everyone. But the policy is controversial and… Continue reading ObamaCare health reforms come into effect
France: 75% tax on high income gets approval
France’s highest court has approved a 75% tax on high income. The new tax is one of President Francois Hollande’s signature policies. The initial proposal to tax individual incomes was ruled unconstitutional by the Constitutional Council almost exactly one year ago. But the government modified it to make employers liable for the 75% tax on… Continue reading France: 75% tax on high income gets approval
Cuba eases restrictions on loans to private borrowers
Cuba has decided to ease restrictions on loans to private borrowers in the latest measure aimed at boosting the island’s troubled economy. Individuals and small businesses can now borrow smaller amounts and have more time to pay back the government. President Raul Castro had launched the program two years ago as part of measures to… Continue reading Cuba eases restrictions on loans to private borrowers
Millions of jobless Americans to lose unemployment benefits in 2014
An estimated 1.3 million Americans will lose their unemployment benefits after an emergency federal program expired on Saturday. Lawmakers failed to agree on an extension of the scheme before the Congress began its winter recess. Former President George W. Bush introduced the assistance plan in 2008 at the start of the recession. Under the program,… Continue reading Millions of jobless Americans to lose unemployment benefits in 2014
Turkey: PM Recep Tayyip Erdogan announces major cabinet reshuffle
Turkey’s PM Recep Tayyip Erdogan has announced a major cabinet reshuffle after three ministerial resignations over a corruption inquiry. Recep Tayyip Erdogan named 10 new ministers – almost half of his total roster – after talks with President Abdullah Gul. One of those who quit, Environment Minister Erdogan Bayraktar, had urged Recep Tayyip Erdogan to… Continue reading Turkey: PM Recep Tayyip Erdogan announces major cabinet reshuffle
ObamaCare help offered amid run-up to deadline
The US government has offered help to people who missed the December 24 deadline to enroll for the ObamaCare. The government said anyone who failed to finish their application through a dedicated website – HealthCare.gov – could still obtain a policy for the new year. On Monday, it extended the original deadline by a day… Continue reading ObamaCare help offered amid run-up to deadline
Mexico: President Enrique Pena Nieto signs oil and gas law
Mexico’s President Enrique Pena Nieto has signed a controversial law that allows foreign companies to drill for oil for the first time since the sector was nationalized in 1938. The legislation was passed by Congress last week and ratified by a majority of Mexican states. Enrique Pena Nieto says the reform will help Mexico attract… Continue reading Mexico: President Enrique Pena Nieto signs oil and gas law
Cuba relaxes conditions on buying foreign-made cars
Cuba has decided to ease restrictions on people buying foreign-made new and used cars, according to state media. Cubans will no longer need government permits to buy modern cars from state sellers. Until new regulations in 2011, people could only sell cars built before the 1959 revolution. Private property has been severely restricted on the… Continue reading Cuba relaxes conditions on buying foreign-made cars
World stock markets rise after Fed stimulus trim announcement
Global stock markets rallied after the US Federal Reserve’s commitment to keep interest rates low offset its decision to taper its stimulus programme. Germany’s Dax and France’s CAC were 1.5% in mid-morning trading, while the UK’s FTSE rose 1%. Japan’s Nikkei 225 closed up 1.7%. The Fed said it would scale back its $85 billion… Continue reading World stock markets rise after Fed stimulus trim announcement
Russia cuts gas price for Ukraine
Russia has decided to cut the price of the gas supplied to Ukraine from more than $400 (291 euros) per 1,000 cubic metres to $268.5. Russia also agreed at talks in the Kremlin to buy $15 billion worth of Ukrainian government bonds. President Vladimir Putin and his Ukrainian counterpart Viktor Yanukovych did not talk about… Continue reading Russia cuts gas price for Ukraine
Angela Merkel confirmed as Germany’s chancellor for third term
German parliament (Bundestag) has confirmed Angela Merkel as the country’s chancellor for a third term, at the head of a grand coalition. The coalition between her centre-right CDU/CSU bloc and the Social Democrats (SPD) has a huge majority, with 504 of the 631 seats in the lower house. Angela Merkel was confirmed by 462 votes,… Continue reading Angela Merkel confirmed as Germany’s chancellor for third term
Sebastian Kurz becomes Europe’s youngest foreign minister at 27
Sebastian Kurz has become Europe’s youngest foreign minister, after Austria swore in its new coalition government. Sebastian Kurz, 27, was one of 12 ministers confirmed by Austrian President Heinz Fischer in the capital Vienna. Before taking up his new role, Sebastian Kurz was state secretary for integration. Austria’s ruling bloc, the Social Democrats and the… Continue reading Sebastian Kurz becomes Europe’s youngest foreign minister at 27
Michelle Bachelet wins Chile presidential election for second time
Michelle Bachelet has won Chilean presidential election for a second time, defeating her run-off rival Evelyn Matthei by a wide margin. With nearly 90% of the vote counted, leftist Michelle Bachelet had 62% to 38% for Evelyn Matthei, a former minister from the ruling centre-right coalition. Michelle Bachelet first served as president between 2006 and… Continue reading Michelle Bachelet wins Chile presidential election for second time
Chile elections 2013: Michelle Bachelet favorite in presidential run-off
Left-wing candidate Michelle Bachelet appears as the favorite in the presidential run-off in Chile. She faces Evelyn Matthei, a former minister in the governing centre-right coalition. Michelle Bachelet, who was president in 2006-10, won the first round last month, but failed to secure an outright majority. The contenders are the daughters of air force generals,… Continue reading Chile elections 2013: Michelle Bachelet favorite in presidential run-off
US Congress budget committee reaches agreement to fund federal services
The US Congress budget committee has reached an agreement to fund federal services, after October government shutdown. The proposed deal finances the government for two years and reduces the federal deficit by $23 billion. It also avoids another government shutdown on January 15, 2014, when government funding is scheduled to run out. The new deal… Continue reading US Congress budget committee reaches agreement to fund federal services
Venezuela local elections 2013: Nicolas Maduro’s socialist party ahead in polls
According to Venezuela’s National Electoral Council, the governing United Socialist Party (USP) has won the greatest share of the vote in Sunday’s local elections. With most votes counted, the USP has 49% while the opposition has about 43%. The opposition was ahead in most of the larger cities, including the capital, Caracas, while the governing… Continue reading Venezuela local elections 2013: Nicolas Maduro’s socialist party ahead in polls
Yingluck Shinawatra to dissolve Thai parliament after opposition resignation
Thailand’s PM Yingluck Shinawatra has announced she will dissolve parliament and call an election, after sustained protests in the capital, Bangkok. The move followed the resignation of all opposition MPs from parliament on Sunday, and a planned march on Government House on Monday. Yingluck Shinawatra won elections in 2011. However, the protesters allege Yingluck Shinawatra’s… Continue reading Yingluck Shinawatra to dissolve Thai parliament after opposition resignation
Bundesbank raises Germany’s economic growth forecasts
The Bundesbank has raised its forecasts for Germany’s economic growth from 0.3% to 0.5% for 2013 and from 1.5% to 1.7% for 2014. “The German economy is in good shape: the unemployment rate is low, employment is rising, and wage growth is returning to normal,” said Bundesbank president Jens Weidmann. Germany’s central bank makes forecasts… Continue reading Bundesbank raises Germany’s economic growth forecasts
US unemployment rate to five-year low of 7% in November 2013
The US Labor Department has announced the unemployment rate fell to a five-year low of 7% in November. Payroll figures also showed that 203,000 jobs were created last month, more than predicted, as the US economy displayed more signs of strength. The monthly non-farm payroll figure is watched closely by economists. Analysts say these indications… Continue reading US unemployment rate to five-year low of 7% in November 2013