John Ydstie appears in the following:
Wednesday, July 17, 2013
Stock and bond markets reacted positively to Federal Reserve Chairman Ben Bernanke's remarks on the economy Wednesday morning. Bernanke was on Capitol Hill delivering the Fed's twice yearly update on the economy and Fed policy before the House Financial Services Committee.
Friday, July 12, 2013
Boeing's stock plummeted more than 7 percent on news of another fire on board a 787 Dreamliner. The plane was on the ground at London's Heathrow Airport and no passengers were on board. It's not known yet whether the fire had anything to do with the troubled plane's battery or electric system.
Thursday, July 11, 2013
Smithfield CEO Larry Pope tried to reassure lawmakers that the sale of his Virginia based company will not mean a transfer of jobs to China or a reduction in food safety. He appeared before lawmakers on the Senate Agriculture Committee on Wednesday.
Wednesday, July 10, 2013
The Senate Agriculture Committee met Wednesday afternoon to hear testimony about the acquisition of Smithfield Foods by a Chinese company. Smithfield CEO Larry Pope tried to defend the proposed deal, but most committee members made their opposition clear.
Wednesday, July 03, 2013
David Green says capitalism practiced with empathy is the right way to make health care available to the masses. The social entrepreneur is working on medical devices and services that can make a difference in the developing world.
Tuesday, July 02, 2013
Traditional hearing aids can be too expensive for many people. But a new type that uses Bluetooth technology costs only about $300. The company that makes the new devices aims to reach millions of people around the world who need hearing aids but have trouble paying for them.
Thursday, June 20, 2013
The stock market fell again on Thursday, a day after Federal Reserve Chairman Ben Bernanke outlined plans to phase out the Fed's stimulative bond-buying program. The Dow was down 350 points in late afternoon trading.
Thursday, June 20, 2013
Investors have been nervous about the Federal Reserve's intentions after hints that it might reduce its massive bond buying program. Amid volatile markets, traders and investors complained they wanted more clarity. Chairman Ben Bernanke obliged on Wednesday after a regular two-day meeting of Fed policymakers.
Wednesday, June 19, 2013
Federal Reserve policymakers say the economy is doing slightly better than it was last fall, but the Fed's $85 billion per month stimulus program will continue for the time being. Speaking at news conference in Washington, D.C., Chairman Ben Bernanke indicated the Fed might begin tapering the stimulus program later this year. The Fed repeated earlier statements that it would hold short-term interest rates near zero until the jobless rate reaches 6.5 percent as long as inflation remains in check.
Thursday, June 06, 2013
The Affordable Care Act, which has become known as Obamacare, will require small businesses with 50 or more employees to offer health care coverage to their workers. Some have suggested that could be discouraging hiring by small businesses.
Friday, May 31, 2013
This week, the European Union gave some of its member nations more time to meet deficit-reduction targets. In other words, to ease back on austerity. The programs have crushed growth and sent European unemployment to a record high 12 percent.
Thursday, May 23, 2013
Federal Reserve chairman Ben Bernanke told Congress Wednesday that the central bank is not ready to scale back on economic stimulus. But he suggested the Fed may start to pare back bond purchases if the economy picks up momentum. Stocks fell following Bernanke's remarks.
Wednesday, May 22, 2013
Over the past several years, the Federal Reserve has added trillions of dollars to its balance sheet, purchasing bonds in order to stimulate the economy. Many investors have been concerned that when the Fed starts selling off those bonds it could create turmoil in the markets. But in congressional testimony Wednesday, Fed Chief Ben Bernanke said the Fed might not sell off those bonds at all.
Tuesday, May 21, 2013
Apple CEO Tim Cook faced tough questions on Capitol Hill on Tuesday. He defended a tax strategy that allows Apple to avoid taxes on tens of billions of dollars of profits. Cook also called on the Congress to lower the U.S. corporate tax rate.
Tuesday, May 21, 2013
Tim Cook will address reports that his company pays billions less than it should in U.S. taxes each year at a Tuesday hearing in Washington. According to a report by the Senate Permanent Subcommittee on Investigations, Apple avoids the tax payments by shifting profits to subsidiaries in Ireland.
Friday, May 17, 2013
On Thursday, President Obama named Daniel Werfel, 42, acting IRS commissioner. The announcement comes a day after the resignation of Steven Miller, who got caught up in the controversy over the IRS targeting Tea Party groups.
Thursday, May 16, 2013
Japan has embarked on a massive effort to stimulate its economy. Both the government and the central bank are collaborating to end a long period of stagnation and deflation. But the effects are also being felt outside Japan.
Wednesday, May 15, 2013
The Congressional Budget Office has sharply revised down the outlook for the federal budget deficit. Some temporary factors are being cited for the projected improvement. Keeping the deficit on a downward path may depend on the economy, analysts say.
Friday, May 03, 2013
The stock market rallied on Friday after a better-than-expected jobs report. The Labor Department said employers added 165,000 jobs to payrolls in April. The unemployment rate ticked down to 7.5 percent.
Thursday, May 02, 2013
Healthy increases in construction and home sales are boosting things like sales of pickups and landscaping, which, in turn, lead to more hiring. But federal budget cuts may undermine that momentum, economists say.