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
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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...)

U.S. Trade Slows in July, Causes Slight Deficit Rise

By MacKenzie C. Babb
Staff Writer
The U.S. trade deficit hit $42 billion in July, a slight increase from June due to a 1 percent drop in exports and a 0.8 percent decline in imports during the month, according to a new Commerce Department report. The International Trade in Goods (more...)

Sobering News for Workers this Labor Day

Sen. Tartaglione Since working families last planned their Labor Day celebrations, economic research of the last 12 months indicates that planning beyond the weekend might be a lot trickier. For American workers, the intended honorees of the holiday, this year’s picnics and barbeques will take place (more...)

U.S. Protects Migrant Workers’ Rights

“We’re committed to ensuring that workers are safe on the job and paid what they’re owed by the law,” Labor Secretary Hilda Solis said in a statement about Labor Rights Week, August 27–31. “This means no one can be paid less than $7.25 an hour. And it
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Homestead Exemption Applications Were Being Mailed to Philadelphia Homeowners

All Philadelphia homeowners are eligible to apply regardless of age or income. Mayor Michael A. Nutter announced that Homestead exemption applications are being mailed to Philadelphia homeowners.  To ensure easy and fast completion, mailed application forms will be pre-filled with the account number, address and owner’s name.  Forms (more...)

Holy Family Development Benefits the Community

Local lawmakers applauded today’s Philadelphia Housing Authority’s approval of Holy Family University’s plan for the former Liddonfield Homes site as an important and beneficial development for the Upper Holmesburg community of Northeast Philadelphia. State Sen. Mike Stack, state Rep. Mike McGeehan and City Councilman Bobby Henon (more...)

Dangerous Job Decline in Pennsylvania

Senate Democratic Leaders today said the latest state employment figures are the predictable result of the Corbett administration’s failure to support a job growth plan. According to the state Department of Labor and Industry, Pennsylvania lost 3,100 jobs in July.  Combined with 2,800 lost jobs in (more...)

Bernanke: U.S. Economy Continues Slow Recovery

By MacKenzie C. Babb
Staff Writer
The U.S. economy is continuing to recover but appears to be doing so at a slower pace than economists expected, according to Federal Reserve Chairman Ben Bernanke. The chairman delivered the central bank’s semiannual monetary policy report to Congress July 17. “After rising at an annual (more...)

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