Business : Economy
New US sanctions on Iran aim to head off Israel (AP)
AP - Additional U.S. sanctions on Iran are more significant for their timing than their immediate effect on Iran's economy, coming as the United States and its allies are arguing that Israel should hold off on any military strike on Iranian nuclear facilities to allow more time for sanctions to work.
Reuters - A new guessing game is about to begin: will China's incoming generation of leaders show more courage than the current incumbents in tackling deep economic imbalances that threaten to bring growth to a sudden stop?
Bernanke's testimony on economy to Senate panel (Reuters)
Reuters - Below are highlights from Federal Reserve Chairman Ben Bernanke's testimony on Tuesday on the state of the U.S. economy to the Senate Budget Committee. Bernanke's prepared testimony was virtually identical to testimony on Thursday to the House Budget Committee.
AP - Federal Reserve Chairman Ben Bernanke is urging senators to resolve debates over tax cuts that expire this month and at the end of the year, saying uncertainty around both could slow the economy.
Reuters - The number of jobs waiting to be filled rose in December as employers tried to ramp up hiring in factories, retail and business services, the government said on Tuesday.
Global watchdog official says banking reforms must proceed (Reuters)Reuters - The underperforming global economy should not be allowed to delay financial system reforms, a senior official at the Financial Stability Board (FSB), a global watchdog set up by the Group of 20 nations, said on Tuesday, adding that the FSB will propose new rules on so-called shadow banking by year-end.
Bernanke repeats vow to shield U.S. from Europe fallout (Reuters)Reuters - Federal Reserve Chairman Ben Bernanke on Tuesday renewed a pledge to prevent Europe's financial crisis from damaging the U.S. economy in testimony before Congress that mirrored remarks he made last week.
U.S. Companies 'Yammer' for a Productivity Revolution (ContributorNetwork)ContributorNetwork - SAN FRANCISCO -- In a pleasant surprise, the Department of Labor has reported an another increase in total nonfarm employment. The U.S. added 243,000 jobs in January, ticking the unemployment rate to 8.3 percent.
PIMCO'S El-Erian favors long-duration bonds, gold and oil (Reuters)Reuters - Given the state of the global economy, investors should be underweight equities while favoring "selected commodities" such as gold and oil for the "geopolitical risk", Mohamed El-Erian, CEO and co-chief investment officer of bond fund giant PIMCO, told CNBC on Tuesday.
Government health spending seen hitting $1.8 trillion (Reuters)Reuters - Government spending for Medicare, Medicaid and other healthcare programs will more than double over the next decade to $1.8 trillion, or 7.3 percent of the country's total economic output, congressional researchers said on Tuesday.
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