Atlanta: The Democratic presidential debate opened Wednesday night with the candidates agreeing that President Donald Trump should be impeached. "The president broke the law again and again and again," Massachusetts Sen. Elizabeth Warren said in the event's opening minutes. Minnesota Sen. Amy Klobuchar said Trump "puts his own private interests" ahead of the country's and "this is wrong." Vermont Sen. Bernie Sanders called Trump "the most corrupt president in modern history" but added, "We cannot simply be consumed by Donald Trump" or the Democratic Party will lose the election. He said Democrats instead should focus on the needs of working people. Such broad agreement was unlikely to last, though. Pete Buttigieg's rise in the primary makes him a prime target as the four candidates now bunched at the top seek to distinguish themselves with less than three months until voting begins. The 37-year-old mayor of South Bend, Indiana, has gained significant ground in recent months in Iowa, … [Read more...] about ‘Most Corrupt President in Modern History’: At Debate, Democrats Agree Trump Must be Impeached
Repeal on health insurance
A spate of credit events hitting top rated issuers has put investors in a fix. Credit rating agencies have missed impending defaults in several companies including IL&FS, DHFL and Zee group, leading to sharp downgrades in ratings of instruments that were of supposedly high credit quality. This has raised concerns about the utility of credit ratings, which often form the basis for investments by mutual funds and insurance companies. Are ratings not reflecting the actual financial position of the companies? How should investors interpret ratings in this scenario?Lax standardsCredit ratings indicate the ability of a borrower to repay his obligations. However, there is a growing perception in India that credit rating agencies have been too charitable in rewarding ratings. For instance, the number of companies that enjoy AAA status in India is very high compared to other nations. While India has 70-odd companies that are rated highest quality, only two companies in the US enjoy this … [Read more...] about How reliable are credit ratings?
Video PlayerClose BEIJING, Nov. 21 (Xinhua) -- China's fiscal wellbeing in the first 10 months of this year signals that the country has struck a fine balance between its extensive growth-spurring tax and fee cuts and unslackened spending in key areas. China's fiscal revenue increased 3.8 percent year on year to around 16.77 trillion yuan (about 2.39 trillion U.S. dollars) in the first 10 months of 2019. The growth rate was down 3.6 percentage points year on year, according to data released Monday by the Ministry of Finance (MOF). Weaker revenue growth is largely due to the country's largest tax and fee cut of recent years, which is expected to reduce the tax burdens and social insurance contributions of enterprises by nearly 2 trillion yuan this year, a figure almost equivalent to the country's total fiscal revenues in 2003. Given the complex economic situation, cutting taxes and fees' policies have played a full role in countercyclical adjustments, said Cai Zili, an official with … [Read more...] about Economic Watch: China has its fiscal cake and eats it too
Residents of Bonn, Fairy Dell, Nanneella, Rochester, Strathallan and Timmering have been told it is “too late to leave.” “The grassfire is travelling in a south-easterly direction towards Webb Road, east of Rochester,” the emergency warning said. “You are in danger, act now to protect yourself. It is too late to leave. The safest option is to take shelter indoors immediately.” It comes amid another Emergency Warning which has been issued for an out of control fire at Firmans Rd in Mount Glasgow, 50km north of Ballarat, with residents being told it is too late to leave. Residents of Clunes, Dunach, Evansford, Glengower, Mount Cameron, Mount Glasgow, Red Lion, Stony Creek have been told the grassfire is travelling in a southerly direction towards Dunach. “You are in danger, act now to protect yourself,” the alert said. “It is too late to leave. The safest option is to take shelter indoors immediately.” There is a bushfure at … [Read more...] about Mallee, Northern Country residents urged to evacuate amid code red bushfire warning in Victoria
Credit rating agencies are in the glare for failing to flag worsening credit profile of companies. At the heart of the issue is the way the agencies are compensated. ET Wealth asks experts what is the right approach. Dhirendra Kumar, CEO, Value Research "Investor not protected if bond issuer signs cheque" He who pays the piper calls the tune. Nowhere is this more true than in the credit rating business. Companies choose credit rating agencies to rate their debt, they negotiate what they will pay for the rating and they pay the same. If they don’t like the services or price, they go to a different provider. We have to be utter fools to believe that ratings produced through this process will serve anything but the goals of the company that is paying for the exercise. This has been demonstrated repeatedly, and disastrously, over the last decade, starting with the financial crisis of 2007-09. At the root of that crisis were the made-to-order ratings that S&P, … [Read more...] about Who should be paying for the credit rating of bonds?