| Bush: Spending by Dems poses threat
President George W. Bush, using his veto pen and bully pulpit, contended Tuesday that congressional Democrats are spending money like "a teenager with a new credit card" and funding the spree with tax increases in every bill. Escalating an ongoing budget battle with Democratic-controlled Capitol Hill, the president warned that the spending poses a threat that an economy he called challenged but resilient might not weather. "Higher taxes would mean fewer opportunities for entrepreneurs, a tougher time for workers trying to get ahead, and a greater likelihood of a slowdown across our economy," Bush told a friendly business audience in a converted movie house in this Ohio River city. "They're coming at you with new taxes, and I'm going to do everything in my power to stop them." The president vetoed a $606 billion measure financing federal education, health and labor programs for the budget year that began Oct.
Credit Card Debt Help in Today's Financial Climate
According to The Debt Settlement Org, debt has become a national obsession here in the United States -- the binding thread that connects us no matter how diverse the rest of our lives. And when it comes to debt, credit card debt is by far the most pervasive in this country. In fact -- on average -- U.S. households carry nearly $8,500 in credit card debt -- a staggering figure when you consider that this is only a portion of the living expenses for which we are responsible. When you factor in mortgage payments and other living expenses, it is not surprising that so many people are in such dire financial circumstances. .
Delta Air forms a committee to review possible mergers; Merrill Lynch taps NYSE head to steer through credit crisis.
ATLANTA — United Airlines and Delta Air Lines have been discussing a combination between the nation's second- and third-largest carriers that would keep the United name and corporate headquarters in Chicago, according to an official with knowledge of the talks. Earlier Wednesday, Delta said its board established a special committee to work with management to review and analyze strategic options for the airline. Top executives have said recently they are trying to determine whether consolidation makes sense for Delta. Delta issued a statement denying "published reports that it had engaged in merger talk with United." CEO Richard Anderson was quoted as saying, "There have been no talks with United regarding any type of consolidation transaction." United called the report "wholly inaccurate." INVESTMENT BROKERS Merrill Lynch names a CEO to steer it through credit crisis NEW YORK — Merrill Lynch & Co.
(AFX UK Focus) 2007-11-13 05:19 GMT: Taipei shares weaker in late trade as US worries erode early bounce
TAIPEI (XFN-ASIA) - Share prices were weaker in late trade, as an early bounce driven by technical factors and bargain-hunting gave way to concerns over continued volatility on Wall Street and credit market troubles. Technology and financial heavyweights lost steam due to redemption pressure on domestic and foreign fund management firms amid prevailing global uncertainties, dealers noted. At 12.29 pm, the weighted index was down 34.40 points or 0.40 pct at 8,636.21, off a high of 8.742.41 and a low of 8,599.39. Turnover was at 112.50 bln twd. The electronics and financial sectors were down 0.89 pct and 0.33 pct, respectively. "It is too early to say that the market has managed to walk away from a free fall, let alone putting bets on an immediate run-up," said an analyst with a leading local securities firm.
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