President Barack Obama has announced a one-year reprieve for millions of Americans facing cancellation of their health insurance policies under his embattled healthcare law. The president said insurers could extend individually purchased plans that would otherwise be cancelled. While pushing for the law’s passage, Barack Obama vowed people with individual plans who liked their policies… Continue reading ObamaCare: Barack Obama announces changes to his healthcare law
Category: Economy & Politics
Economy and Politics news articles.
Ireland to exit bailout in December, without seeking precautionary funding
Ireland is to make a clean break from its 3-year 85 billion euro bailout programme in December, without seeking precautionary funding. Irish PM Enda Kenny confirmed the move during a speech to the parliament. The Irish economy is emerging from one of the deepest recessions in the eurozone, having sought an international bailout in November… Continue reading Ireland to exit bailout in December, without seeking precautionary funding
Eurozone economy grew by just 0.1% in Q3 2013
Eurozone’s economy grew by just 0.1% in Q3 2013, down from 0.3% growth in the previous quarter. The figure marks just the second quarter of a growth phase that replaced an 18-month recession, the longest period of contraction to affect the single currency area. It shows the eurozone’s recovery is extremely tentative. Europe’s Central Bank… Continue reading Eurozone economy grew by just 0.1% in Q3 2013
Christian Wulff goes on trial over receiving and granting favors in office
Former German President Christian Wulff will go on trial today over receiving and granting favors in office. Christian Wulff, 54, is alleged to have accepted the payment of hotel bills by a film producer in return for lobbying while he was premier of Lower Saxony in 2008. The former president – who stepped down in… Continue reading Christian Wulff goes on trial over receiving and granting favors in office
China Third Plenum unveils key reforms
China has unveiled a series of reforms aimed at overhauling its economy over the next decade. In a statement issued after a closed-door summit, the Chinese leaders promised the free market would play a bigger role. A new committee will oversee internal security to guard against social unrest, and farmers will be given more property… Continue reading China Third Plenum unveils key reforms
EU Budget 2014: Negotiators agree on next year’s spending
Negotiators in Brussels have clinched a deal on the 2014 EU budget after a night of hard talks, cutting spending by about 6% compared to 2013. Spending will total 135.5 billion euros (181.3 billion), or 0.5bn less than the Commission sought and 0.9bn short of the European Parliament’s target. However, the budget is 0.5 billion… Continue reading EU Budget 2014: Negotiators agree on next year’s spending
Bo Xilai supporters set up Zhi Xian Party in China
Supporters of Chinese politician Bo Xilai have set up a political party, and made Bo the party chairman. Wang Zheng said she was inspired to set up the Zhi Xian Party after following Bo Xilai’s trial. It is a highly unusual move in China, where the ruling Communist Party retains a monopoly on power. Bo… Continue reading Bo Xilai supporters set up Zhi Xian Party in China
Maldives Election 2013: Supreme Court suspends presidential run-off
The Maldivian Supreme Court has suspended the presidential election run-off, after protests from a candidate. On Saturday, ex-President Mohamed Nasheed polled nearly 47%, just short of the 50% needed for outright victory. The second round was to have taken place on Sunday, but the runner-up Abdulla Yameen sought a delay, saying he needed time to… Continue reading Maldives Election 2013: Supreme Court suspends presidential run-off
Maldives Election 2013: Voters to elect a new president after two attempts fail
Maldivian voters are going to the polls to elect a president after two previous attempts failed. Candidates came to a last-minute agreement earlier this week to agree and sign the voter lists required for the election to take place. In 2012, ex-President Mohamed Nasheed was forced from office, sparking a political crisis. Mohamed Nasheed is… Continue reading Maldives Election 2013: Voters to elect a new president after two attempts fail
US economy added 204,000 jobs in October 2013
According to the latest figures from the Labor Department, the US economy added a better-than-expected 204,000 jobs in October. There had been fears that the 16-day shutdown of government services last month could have hit jobs growth. The monthly non-farm payroll figure is taken as a key indicator of the health of the world’s biggest… Continue reading US economy added 204,000 jobs in October 2013
US government shutdown cost taxpayers more than $2.5 billion
The Obama administration revealed on Thursday that last month’s 16-day partial shutdown of the federal government cost taxpayers more than $2.5 billion for work that furloughed federal employees never got a chance to do. At the peak of the furloughs, about 850,000 workers – 40% of the civilian federal workforce – were not at work, President… Continue reading US government shutdown cost taxpayers more than $2.5 billion
Standard and Poor’s downgrades France’s credit rating to AA
S&P has cut France’s credit rating to AA from AA+. The move comes almost two years after France lost its top-rated AAA status. S&P said it downgraded France because high unemployment in the country was making it hard for the government to make important reforms which would boost growth. The French government responded by saying… Continue reading Standard and Poor’s downgrades France’s credit rating to AA
US Election 2013: Chris Christie re-elected as New Jersey governor
Republican Chris Christie was easily re-elected governor of New Jersey. Chris Christie was declared the unofficial winner by the US media just minutes after the polls closed. “Thank you, New Jersey, for making me the luckiest guy in the world,” he told supporters after his victory. Chris Christie won 60.5% of the vote, against 38%… Continue reading US Election 2013: Chris Christie re-elected as New Jersey governor
US Election 2013: Terry McAuliffe wins Virginia governor race
Democrat Terry McAuliffe beat Republican Ken Cuccinelli in a very close race for Virginia governor’s seat. Republican Chris Christie was easily re-elected governor of New Jersey. Tuesday’s races are seen as an early test of both parties’ strengths ahead of next year’s congressional mid-term elections. In Virginia, Terry McAuliffe won an extremely tight race, defeating… Continue reading US Election 2013: Terry McAuliffe wins Virginia governor race
NYC Election 2013: Bill de Blasio to become city’s first Democratic mayor since 1993
With almost all votes counted, Bill de Blasio will succeed Mayor Michael Bloomberg to become the first Democrat leading New York City in two decades. With 99% of votes counted in New York, Bill de Blasio secured 73% of the vote, convincingly defeating his Republican rival Joe Lhota, who polled 24%. In his victory speech,… Continue reading NYC Election 2013: Bill de Blasio to become city’s first Democratic mayor since 1993
US Election 2013: New Jersey and Virginia to pick governors
US voters are heading to the polls in the first major round of elections since President Barack Obama won a second term one year ago. In New Jersey and Virginia, voters will pick governors. New York City is choosing a successor to three-term Mayor Michael Bloomberg, a Republican-turned-independent. Tuesday’s races are seen as an early… Continue reading US Election 2013: New Jersey and Virginia to pick governors
New York City election 2013: Bill de Blasio takes commanding lead over Joe Lhota in opinion polls
New York City is choosing a successor to three-term Mayor Michael Bloomberg, a Republican-turned-independent. Tuesday’s races are seen as an early test of the Republican and Democratic parties’ strengths ahead of next year’s critical congressional elections. In New York City, Democratic mayoral candidate Bill de Blasio has taken a commanding lead in opinion polls over… Continue reading New York City election 2013: Bill de Blasio takes commanding lead over Joe Lhota in opinion polls
Belgrade encourages Kosovo’s Serb population to take part in municipal elections
Ethnic Serb communities are encouraged to go to the polls for the first time as the votes are being cast in Kosovo’s municipal elections. The governments of both Serbia and Kosovo have been promoting a strong turnout, but many people in the north are likely to boycott the vote. Kosovar Serbs are concerned that if… Continue reading Belgrade encourages Kosovo’s Serb population to take part in municipal elections
US cuts food stamps for poor
The US Congress has cut food aid benefits for poor from Friday as an extension of the government programme expires, while legislators fight over further cuts. Benefits to the supplemental nutrition assistance program (SNAP) will be lowered by $36 a month for a family of four, officials say. Some 47 million low income Americans will… Continue reading US cuts food stamps for poor
Robert Mugabe insult law declared unconstitutional by Zimbabwe’s highest court
Zimbabwe’s Constitutional Court has declared unconstitutional a law which makes it a crime to insult the president. Prosecutors should not be overzealous about charging people who comment about President Robert Mugabe “in drinking halls and other social places”, the highest court said. At least 80 cases have reportedly been filed in recent years under the… Continue reading Robert Mugabe insult law declared unconstitutional by Zimbabwe’s highest court
Forbes World’s Most Powerful People List 2013
Russia’s President Vladimir Putin has topped Forbes magazine’s World’s Most Powerful People list in 2013. Vladimir Putin has beaten President Barack Obama into second place on the list. Pope Francis features at number four after Chinese President Xi Jinping. Barack Obama’s “lame duck period” had started earlier than usual while Vladimir Putin had consolidated his… Continue reading Forbes World’s Most Powerful People List 2013
Spain officially out of recession after first quarterly economic growth since 2011
Spain is officially out of recession after first quarterly economic growth since 2011, according to data from the country’s National Statistics agency INE. Spain’s GDP grew 0.1% in the July-to-September period, after contracting for the previous nine quarters. Its growth confirmed last week’s estimates from the Bank of Spain. Spain was one of the countries… Continue reading Spain officially out of recession after first quarterly economic growth since 2011
Tadeusz Mazowiecki dies aged 86
Tadeusz Mazowiecki – Poland’s first prime minister after the fall of communism – has died aged 86. Foreign Minister Radoslaw Sikorski described him as “one of the fathers of Polish liberty and independence”. Tadeusz Mazowiecki was one of the architects of the “Round Table” talks, between communist leaders and opposition, paving the way for elections… Continue reading Tadeusz Mazowiecki dies aged 86
Giorgi Margvelashvili wins Georgia’s presidential election
Giorgi Margvelashvili – an ally of Georgian PM Bidzina Ivanishvili – has won the country’s presidential election, according to exit polls. The polls give Giorgi Margvelashvili, 44, 66-68% of the vote. His closest rival, David Bakradze from the party of the incumbent, trailed with 20.2%. David Bakradze has conceded defeat and congratulated Giorgi Margvelashvili. The… Continue reading Giorgi Margvelashvili wins Georgia’s presidential election
Bangladesh opposition in 3-day strike over government’s failure to set up caretaker cabinet
Bangladesh’s main opposition party and its allies have decide to begin a three-day strike over the government’s failure to set up a caretaker cabinet in the run-up to the country’s general elections. The Bangladesh Nationalist Party party (BNP), led by Khaleda Zia, is calling for the government to step aside ahead of the polls due… Continue reading Bangladesh opposition in 3-day strike over government’s failure to set up caretaker cabinet