Senate immigration bill to aid economy, budget office says
18 Jun 2013 | 7:13 pm
By Thomas Ferraro and Richard Cowan WASHINGTON (Reuters) - A White House-backed bill to overhaul the U.S. immigration system got a boost on Tuesday when the non-partisan Congressional Budget Office concluded that the measure would cut federal budget deficits and boost the U.S. economy. The CBO analysis came as the Senate fended off amendments by the bill's opponents that would have delayed for an unspecified amount of time provisions to legalize up to 11 million undocumented immigrants and allow them to gain citizenship within 13 years. ...
UK's Osborne to unveil future of state-controlled banks
18 Jun 2013 | 6:09 pm
By David Milliken and Matt Scuffham LONDON (Reuters) - The fate of Britain's two state-controlled banks will become clearer on Wednesday, when finance minister George Osborne is likely to start the clock ticking for the sale of the government's stakes. But while Osborne will attempt to point to a healthier future for Britain's economy and banking sector in his annual speech to financiers in the evening, reminders of recent troubles will not be far away. An influential panel of legislators called for new laws on Wednesday to make it easier to jail reckless bankers. ...
UK lawmakers call for 'reckless' bankers to face jail
18 Jun 2013 | 6:01 pm
By Matt Scuffham LONDON (Reuters) - Britain should introduce laws making it possible to jail "reckless" bankers and claw back past bonus and pension awards, an influential panel of lawmakers said on Wednesday. The Parliamentary Commission on Banking Standards, set up by the government last year after Barclays was fined over the manipulation of global interest rate benchmarks, said deep lapses in standards had been commonplace and recent scandals had exposed "shocking and widespread malpractice". "Taxpayers and customers have lost out. The economy has suffered. ...
Senate immigration bill would boost economy, CBO says
18 Jun 2013 | 5:25 pm
WASHINGTON (Reuters) - A White House-backed immigration bill moving through the U.S. Senate would cut federal budget deficits over the long term and provide an overall boost to the economy, the Congressional Budget Office said on Tuesday. The CBO, the nonpartisan budget scorekeeper for Congress, estimated the legislation would reduce deficits by $197 billion from 2014 to 2023 and by $700 billion from 2024 to 2033. The estimate contrasts starkly with a forecast issued last month by the conservative Heritage Foundation think tank that said the immigration bill would cost taxpayers $6. ...
Fed optimism, Tim Hortons lift TSX to 1-week high
18 Jun 2013 | 3:57 pm
By John Tilak TORONTO (Reuters) - Canada's main stock index climbed to a one-week high on Tuesday as positive economic data and hopes that the U.S. Federal Reserve will stick to its supportive monetary policy drove gains in almost every major sector. Coffee chain Tim Hortons Inc also boosted Canada's main stock index rising 4 percent on news that it now faces pressure from U.S. hedge fund Scout Capital Management to make changes after recently outlining plans to address the concerns of activist investor Highfields Capital. Sentiment improved further after U.S. ...
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