World Bank Projects Slow but Steady Economic Growth for 2013

By Stephen Kaufman Staff Writer The World Bank says that in 2013 the global economy will continue to experience very slow but steady growth, citing the need for structural fixes in high-income countries and weaker-than-expected growth in developing countries,
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U.S. Trade Deficit Widened in November

The U.S. trade deficit expanded to a seven-month high in November at $48.7 billion, reflecting a rise in the U.S. import of consumer goods from its trading partners around the world, according to data released January 11 by the U.S. Department of Commerce’s Census Bureau and Bureau (more...)

PennWATCH: PA Spending Becomes More Transparent

No longer will Pennsylvania lag behind other states when it comes to finding information about how tax dollars are spent by government, Speaker-Designate Rep. Sam Smith (R-Jefferson County) said of today’s public unveiling of PennWATCH (Pennsylvania Web Accountability, Transparency and Contract Hub). “We are rebuilding the faith and (more...)

$22.67 Million Contributaion To City Pension Fund By Bond Refinancing

Mayor Michael A. Nutter announced that the City has priced an innovative bond refinancing, that has generated a onetime $22.67 million contribution to the City's Municipal Pension Fund, a refinancing that does not increase any costs to the City or add any risks to the City's (more...)

U.S. Holiday Shoppers Support Continued Economic Recovery

By MacKenzie C. Babb Staff Writer More people than ever before kicked off the holiday shopping season in the United States, offering a welcome boost to businesses continuing to recover from economic recession. The nationwide shopping spree began November 23, the day after Thanksgiving, known as “Black Friday” for its (more...)

U.S. Economy Continues Recovery with 13 Quarters of GDP Growth

By MacKenzie C. Babb Staff Writer The U.S. economy expanded at an annual rate of 2.7 percent from July to September, according to a new report from the Commerce Department. The latest figures from the department’s Bureau of Economic Analysis revised third-quarter growth up 0.7 percent from the 2.0 percent found (more...)

Trade Mission Aims to Build Relationships in Russia

Representatives from the states of Idaho, Missouri, North Dakota, Oklahoma and Kansas, as well as 23 American companies, will join a U.S. trade mission to Russia designed to build relationships and promote agricultural exports. Michael Scuse, the under secretary of agriculture for farm and foreign agricultural services, (more...)

Nutter To Lead Trade Mission To Chine, Promote Investment In Philly

Trip to focus on sustainability, arts/culture, health care, education & economic development Mayor Michael A. Nutter will visit China this week to promote opportunities for investment in Philadelphia, strengthen relationships between key Philadelphia institutions and their Chinese counterparts, and continue to promote Philadelphia as a growing (more...)

U.S. Economy Continues to Grow, Recover

By MacKenzie C. Babb Staff Writer The U.S. economy posted its 13th straight quarter of growth as it expanded by 2 percent from July to September, according to a new Commerce Department report. “Together with other economic indicators, this report provides further evidence that the economy is moving in the (more...)

An Initiative To Support Philadelphia Startups & Entrepreneurs

Initial measures include public-private seed fund and ‘Call for Ideas’ Mayor Michael A. Nutter announced the creation of Startup PHL, a new initiative to support Philadelphia startups and entrepreneurs.  The initiative, a partnership between the City of Philadelphia and the Philadelphia Industrial Development (more...)

Federal Reserve Supports U.S., Global Recovery

By MacKenzie C. Babb
Staff Writer
The U.S. central bank is taking extra steps to support the country’s “frustratingly slow” economic recovery, says Federal Reserve Board Chairman Ben Bernanke. “The Federal Reserve is providing additional monetary accommodation to achieve its dual mandate of maximum employment and price stability,” Bernanke (more...)

Stock Market Investment Tips

Tom Clark In recent times, many people have warmed up to the idea of investing in the stock market. Such persons engage in the act of buying and selling stocks issued by different firms with the sole aim of raising capital. Those who own a certain portion
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U.S. Trade Deficit Grows in August

By MacKenzie C. Babb
Staff Writer
The U.S. trade deficit grew to $44.2 billion in August, up from $42.5 billion the month before, according to the Commerce Department’s latest report. The department’s Census Bureau and Bureau of Economic Analysis released the August "U.S. International Trade in Goods and Services" report (more...)

World Economic Growth Slowing, IMF Says

By Kathryn McConnell
Staff Writer
Recovery of the global economy continues, but at a slower rate than projected earlier in 2012, the International Monetary Fund reports in its latest World Economic Outlook. The IMF released the Outlook October 9 in advance of the IMF–World Bank meetings October 11–12 in Tokyo. (more...)

Philly As A “Smart City” For Entrepreneurs

Mayor Michael A. Nutter will join leading venture investor Josh Kopelman and University of Pennsylvania President Dr. Amy Gutmann to open the new West Philadelphia headquarters of First Round Capital, a 10,000-square-foot facility that will also house several start-up companies and space for more than 20 (more...)

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