Top US Hedge Fund Managers Made Nearly $13B in 2015

VOA Ken Bredemeier A new U.S. survey shows even with stock market volatility on Wall Street last year, top hedge fund managers were paid huge sums to handle the investments of the country's wealthiest people. Institutional Investor's Alpha magazine said its
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Greece Asks for New Bailout, Pledging Reforms

VOA News Debt-wracked Greece asked its European neighbors for a new three-year bailout Wednesday, pledging to "immediately implement" tax and pension reforms. Greek Prime Minister Alexis Tsipras told the European Parliament in Strasbourg that Athens would produce "new concrete proposals" by Thursday to meet the demands of European leaders who've grown weary (more...)

Philadelphia’s Unemployment Rate Drops To 6.6%

According to preliminary data released today by the U.S. Bureau of Labor Statistics, the unemployment rate in Philadelphia declined to 6.6% for October 2014, a 3.3 percentage point drop from October 2013 and the lowest unemployment rate since April 2008.  In addition, the number of jobs in Philadelphia increased by (more...)

Dietz and Watson Project to Receive $5 million Grant

The redevelopment project that will keep Dietz and Watson in Northeast Philadelphia will receive a $5 million state grant, state Sen. Mike Stack announced today. “Dietz and Watson is investing in the future of Northeast Philadelphia and I’m pleased that Pennsylvania can reward that good faith with an investment (more...)

Beyond Buy Local, Invest Local

By Brian Depew, briand@cfra.org, Center for Rural Affairs Buy local. It’s a well known strategy for small towns. Keeping your grocery money close to home keeps the grocery store close to home. Economists tell us that every dollar spent at a locally owned business generates two to four times the (more...)

Biden Announces New U.S. Aid for Ukraine

Vice President Biden on June 7 announced an additional $48 million in assistance to help the Ukrainian government conduct key reforms, build law enforcement capacity and strengthen national unity. Pending consultation with the U.S. Congress, this assistance will follow the $1 billion loan guarantee signed on April 14, a $50 million (more...)

Ukraine Issues $1 Billion Bond with U.S. Guarantee

The National Bank of Ukraine on May 16, acting on behalf of the government of Ukraine, closed on its offering of a $1 billion sovereign bond, guaranteed by the United States, acting through the U.S. Agency for International Development (USAID). “This guarantee demonstrates the strong U.S. (more...)

Pennsylvania Ranks First in NE Region for New Corporate Facilities

Governor Tom Corbett announced today that Site Selection magazine, a publication specializing in the corporate real estate and economic development field, has ranked Pennsylvania as the top state in the northeast region for new corporate facilities in 2013. Pennsylvania has more successful projects than all other eight northeast states combined. For (more...)

Treasury Secretary Lew on U.S. Economic Assistance to Ukraine

Statement of Secretary Lew on Economic Assistance to Ukraine We have been working closely with international partners to develop an assistance package that will help the Ukrainian government implement the reforms needed to restore financial stability and return to economic growth. The new government of Ukraine has said (more...)

New U.S. Farm Bill Ends Direct Crop Subsidies

By Kathryn McConnell Staff Writer President Obama signed a comprehensive five-year farm bill on February 7 that ends controversial direct subsidies to farmers in favor of cheaper crop insurance for growers who face risks from severe drought, flooding and unpredictable market conditions. The direct payments had been supported by some (more...)

Holiday Shoppers Boost U.S. Economy

Holiday spenders who crowd retail centers and flood Internet-based businesses make an important end-of-year contribution to the U.S. economy, whose gross domestic product is the world’s largest. In 2013, holiday sales between November 1 and December 24 rose 2.3 percent over the same period in 2012, compared (more...)

Economic Populism Is a Dead End for Democrats

If you talk to leading progressives these days, you'll be sure to hear this message: The Democratic Party should embrace the economic populism of New York Mayor-elect Bill de Blasio and Massachusetts Sen. Elizabeth Warren. Such economic populism, they argue, should be the guiding star (more...)

Mayor Nutter To Lead Trade Mission To United Kingdom And Israel

Mayor Michael A. Nutter announced that he will lead a trade mission to the United Kingdom and Israel next month in order to attract investment from international companies in Philadelphia and to assist Philadelphia companies with trade opportunities in these two key marketplaces.  Mayor Nutter will be joined (more...)

Treasury Secretary Lew on U.S. Economy

Statement of Secretary Lew “We welcome the bipartisan action Congress is taking to resolve this crisis, re-open the government, and lift the cloud of uncertainty hanging over the economy. Over 224 years, the United States has established our credit as the strongest in the world. The United States (more...)

Economic Indicators Show Continued Slow, but Steady U.S. Growth

By Stephen Kaufman Staff Writer Recent economic indicators offer evidence that the U.S. economy continues to grow at a moderate pace following the global recession that began in late 2007. On July 31, the U.S. Department of Commerce announced that the U.S. gross domestic product (GDP), which is the broadest (more...)

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