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At Issue: U.S. Budget Deficit

Obama Tax Plan: ‘This Is Not Class Warfare, It’s Math’

President Barack Obama has thrown down the gauntlet regarding the deficit reduction process -- the only question is, does he have the support of the American people to enact his budget vision, or is substantive action unlikely prior to the 2012 election, due to divided government?

Mongolian Investment Limits May Be Loosening - Report

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The Mongolian government is discussing possible changes to a 2009 investment agreement for its massive copper-gold deposit at Oyu Tolgoi, media reports quoted the country's Finance Minister S. Bayartsogt as saying on Tuesday.
U.S. ambassador to China Gary Locke delivers a speech to the American Chamber of Commerce in the People's Republic of China and members of United States-China Business Council at the Westin Hotel in Beijing

U.S. Ambassador Urges China to Lower Trade Barriers

China must reduce barriers to foreign companies if it is to meet its own development goals, the U.S. ambassador said in Beijing on Tuesday in a speech that reflected foreign investors' growing frustration with the pace of economic reforms in the country.
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Zambian opposition leader Michael Sata leaves an election results centre in Lusaka

Zambia deploys police on eve of close election

Zambia's police chief deployed thousands of officers across the southern African country on Monday, the eve of a closely contested election between incumbent Rupiah Banda and nationalist opposition leader Michael Sata.
Obama and Boehner at jobs speech

Obama's 'Buffett Rule' Proposal Has Merit

Republicans are saying President Barack Obama's unveiling of a $3 trillion long-term deficit reduction plan -- dubbed the Buffett Rule -- that relies upon raising taxes on the wealthiest Americans is political posturing and window dressing.
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Foreign Investors Eyeing Mongolian Gold

Foreign investors in mineral-rich Mongolia hope parliament will revoke a controversial law banning mining in the country's river and forest areas when it convenes for its busy autumn session next month.
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Chinese Official Signals No New Stimulus

China should refrain from boosting credit and fiscal spending again as stimulus measures to avoid fueling inflation and pushing up government debt, Wu Xiaoling, a former deputy central bank governor said in remarks published on Monday.
China company structure under threat

China company structure under threat

China's securities regulator is asking the government to clamp down on the controversial corporate structure used by companies such as Sina (SINA.O) and Baidu (BIDU.O) to list overseas, and employed in thousands of other investments by foreigners into domestic Chinese companies, four legal sources told Reuters.
Obama jobs bill

Obama’s Buffett Tax: A Warranted Tax on Millionaires or ‘Class Warfare’?

President Barack Obama will once-again try to right the nation's fiscal ship of state by proposing a new tax levy for U.S. taxpayers whose income exceeds $1 million per year. Congressional Republicans have already said they're opposed to the levy, but it remains to be seen whether that latter view will hold amid a public that wants upper-income groups to pay more in taxes.
U.S. President Barack Obama

Barack Obama to Propose New Tax Rate for Millionaires

President Barack Obama will propose a new minimum tax rate for U.S. taxpayers who make more than $1 million to help lower the nation's $1.5 trillion long-term debt, according to media reports. This plan will be adopted from a suggestion made by billionaire investor Warren Buffett.
Kweku Adoboli

Kweku Adoboli’s UBS Trading Losses Strengthen Push for Split Banking

Regulators are still trying to figure out how 31-year-old trader Kweku Adoboli caused $2 billion in bad bets over three tears. But as the probe continues analysts and politicians say UBS trading losses has strengthened the case for separating retail banks from their investment arm, according to The Associated Press.
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Don't Worry about Higher Royalties in Peru - Miner

A drive by Peru's leftist president to raise mining royalties should not derail multibillion-dollar investments, industry executives said, but they added that the final law must reflect the spirit of negotiations with companies.
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Molycorp, Sumitomo Break Off Financing Deal Talks

Molycorp Inc (MCP.N) said on Friday it has broken off talks with Japan's Sumitomo Corp with regard to a financing deal, as the investment is no longer necessary for the implementation of its business plan.
UBS $2 billion rogue trade suspect held in London

Kweku Adoboli: Is UBS Doomed?

Continued losses in the investment bank arena could lead to more restructuring and another round of job cuts to be unveiled in November.

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