Republicans shift burden to avoid defense cuts

Surprise! The budget battles are back.
In an effort to avoid cuts to defense spending, House Republicans are pushing a bill that would shift hundreds of billions in spending cuts from the Pentagon to domestic programs, services for the poor and government regulators.

The plan would strip regulators of the ability to wind down failing […]

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Chesterfield outlet mall race still up for grabs

Everyone seems to agree that only one outlet mall will be built in Chesterfield.
But exactly which one is anybody’s guess.
Two major developers have been angling for months to build an outlet mall along Highway 40 on sites less than five miles apart.
The fierce competition took on the feel of a tennis match last week, with […]

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Boeing confident deal about to fly with Brazilian Air Force

A potential $4.3 billion deal between the Boeing’s defense unit and the Brazilian government that has bounced on and off the table for years is back in play.
And a Boeing Co. official said this week that the company expects to learn by June if it finished atop the process that has pitted aerospace makers from […]

Bernanke revisits college as guest lecturer at GW

Federal Reserve Chairman Ben Bernanke took a break from his day job Tuesday to revisit the academic life he led before coming to Washington a decade ago.
Shortly after noon, he stood before a class of George Washington University undergraduates and gave the first of four one-hour lectures on the Fed. Students gave him a round […]

Oil near $106 as US denies plan to release crude

Oil prices rose to near $106 a barrel Friday in Asia after the U.S. denied reports it and Britain plan to release some their strategic crude reserves.
Benchmark oil for April delivery was up 45 cents to $105.56 in electronic trading on the New York Mercantile Exchange. The contract fell 32 cents to settle at $105.11 […]

Wage Gains Signal Boost to Consumer Spending - Bloomberg

The biggest six-month increase in U.S. worker pay in almost five years helps lay the ground for a pickup in consumer spending, the largest part of the economy.
Wages (GDPWWAGE) and salaries in the third and fourth quarters grew a combined $197.3 billion, the most since the six months ended March 2007, according to revised […]

U.K. Hometrack Home Prices Underpinned by Rush to Beat Tax-Holiday Expiry - Bloomberg

U.K. house prices held their value for a second month in February, boosted by a seasonal increase in demand and a rush to beat the expiration of a property-tax exemption, Hometrack Ltd. said.
The average cost of a home in England and Wales was unchanged from January and 1.4 percent lower than a year earlier, […]

Growth quickens, but speed bumps ahead

The economy grew at its fastest pace in 1-1/2 years in the fourth quarter, but a rebuilding of stocks by businesses and slower business spending warned of weaker growth in early 2012.
Gross domestic product expanded at a 2.8 percent annual rate, the Commerce Department said on Friday, a sharp acceleration from the 1.8 percent […]

Stocks open mixed ahead of Fed policy statement

Stocks are opening mostly lower ahead of a statement from the Federal Reserve and a news conference by its chairman.
The Fed will offer details Wednesday about how long it plans to keep interest rates very low. It also will release an economic forecast. Later, Fed Chairman Ben Bernanke will take questions from reporters.
Traders continue to […]

Home builder sentiment rises for third month: NAHB

+%3Cp%3E+Homebuilder+sentiment+perked+up+in+December+for+the+third+month+in+a+row%2C+to+its+highest+level+in+a+year+and+a+half%2C+the+National+Association+of+Home+Builders+said+on+Monday.%3C%2Fp%3E+%3Cp%3EThe+NAHB%2FWells+Fargo+Housing+Market+index+rose+to+21+from+a+downwardly+revised+19+in+November%2C+the+group+said.+Economists+polled+by+Reuters+had+predicted+a+reading+of+20.%3C%2Fp%3E+%3Cp%3EThe+index+was+at+its+highest+level+since+May+2010.%3C%2Fp%3E+%3Cp%3E%22While+builder+confidence+remains+low%2C+the+consistent+gains+registered+over+the+past+several+months+are+an+indication+that+pockets+of+recovery+are+slowly+starting+to+emerge+in+scattered+housing+markets%2C%22+NAHB+Chairman+Bob+Nielsen+said+in+a+statement.%3C%2Fp%3E+%3Cp%3EAfter+stagnating+in+a+tight+range+for+about+a+year%2C+the+index+has+been+improving+since+October%2C+giving+weight+to+analysts%27+views+that+the+housing+market+is+finally+finding+a+bottom.%3C%2Fp%3E+%3Cp%3EEven+with+December%27s+gain%2C+home+builder+sentiment+is+still+historically+low+and+well+below+the+50+mark%2C+indicating+more+builders+view+market+conditions+as+poor+than+favorable.+The+index+has+not+been+above+50+since+April+2006.%3C%2Fp%3E+%3Cp%3E%22We%27re+not+looking+for+numbers+next+year+to+come+anywhere+close+to+the+kind+of+numbers+that+we+saw+pre-recession%2C+but+we+do+think+the+housing+market+is+setting+up+for+a+plus+year+in+2012+in+terms+of+new+home+construction%2C+as+well+as+sales%2C%22+said+Steve+Blitz%2C+senior+economist+at+ITG+Investment+Research+in+New+York.%3C%2Fp%3E+%3Cp%3EThe+current+sales+component+rose+to+22+from+20%2C+while+the+gauge+of+sales+expectations+for+the+next+six+months+rose+to+26+from+25.%3C%2Fp%3E+%3Cp%3EThere+was+little+impact+in+financial+markets+from+the+data+as+investors+focused+on+developments+in+the+euro+zone+and+uncertainty+following+the+death+of+North+Korean+leader+Kim+Jong-il.%3C%2Fp%3E++%3Cp%3E%3Ca+href%3D%27http%3A%2F%2Fwww.reuters.com%2Fassets%2Fprint%3Faid%3DUSTRE7BI0ZA20111219%27+rel%3D%27nofollow%27%3ERead+more%3C%2Fa%3E%3C%2Fp%3E+