Archive for January, 2012
Buffet a Key Benefactor if Keystone Pipeline Not Okayed
A environmental groups praise Obama for rejecting the Keystone XL Pipeline from going through, billionaire and prominent Democrat donor Warren Buffett is set to reap a handsome reward from the decision. Buffett’s Burlington Northern Santa Fe LLC is a notable beneficiary, among other U.S. and Canadian railroads, as it is one of the railroads that will transport the Canadian oil if the pipeline isn’t approved.
Weekly jobless benefit claims rise amid overall downward trend
Last week the number of people seeking jobless benefits rose to a seasonally adjusted 377,000, up from a nearly four-year low the previous week. But the longer-term trend is pointing to a healthier job market. Applications have trended down over the past few months. The four week average has declined to 377,500. When applications fall consistently below 375,000, it tends to signal that hiring is strong enough to lower the unemployment rate.
Obamacare’s user friendly health plan summaries at risk
One of the most popular parts of President Obama’s healthcare overhaul, included consumer-friendly summaries of what your insurance plan covers, but that is now at risk. Consumer groups are saying it’s not Republican opposition they’re worried about, but a White House that doesn’t want to be seen, in an election year, as churning out costly new regulations.
Fed: No Raise in Interest Rates Until Late 2014
On Wednesday the Federal Reserve said that it is unlikely to raise interest rates before late 2014, extending a period of record-low rates by more than a year. The rates will remain low to help lift a weak but modestly growing economy. The Fed’s new timeframe hints at details in the quarterly economic forecast which will be released later. That will show in what year policy members expect the first increase in the Fed’s benchmark interest rate.
Obama pushes for new taxes and more spending
On Tuesday night during his State of the Union address, Obama vowed to fight obstructionism in Congress and return to a “fairness for all and responsibility from all” approach in his third State of the Union. “Let’s never forget: Millions of Americans who work hard and play by the rules every day deserve a government and a financial system that do the same. It’s time to apply the same rules from top to bottom: No bailouts, no handouts, and no copouts,” he said. “An America built to last insists on responsibility from everybody.”
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