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Economics

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Facebook Overtakes Walmart in Stock Value

The world’s biggest online social network knocked the world’s largest retailer out of the top 10 list of the highest-valued companies in the Standard & Poor’s 500 index on Monday and the gap widened on Tuesday.

REUTERS/PETAR KUJUNDZIC

China Debt-Bomb Fuse is Burning

Buried under “crippling local government and corporate debt”, the Red Dragon’s current debt restructuring plan amounts to “little more than creative financial-engineering.” Lombard believes that China still has the ability address the nation’s debt-bomb, but the fuse is now burning.

Khanna-Honda (Breitbart News, wires)

Ro Khanna Won’t Answer on Trade Bill; Honda Opposes

Last week’s collapse of a potentially critical trade package deal in the House raised questions as to how two-time congressional candidate Ro Khanna’s view on the deal might differ from that of his rival, incumbent Rep. Mike Honda (D-San Jose).

AP Photo

Will 2015 Be the Year of Renewable Fuel Standard Reform?

That the Senate Homeland Security and Government Affairs Committee attacks the Environmental Protection Agency’s (EPA) management—er, mismanagement—of the federal renewable fuel standard (RFS) indicates the growing frustration over both the agency and the RFS itself.

AP Photo

How Subsidies Are Draining Your Wallet

There seems to be a lot of confusion regarding how federal subsidies impact the price of goods in the marketplace. While subsidies are often seen as a mechanism to make products cheaper, the reality is, government subsidies do the exact opposite.

REUTERS/BRIAN SNYDER

Exclusive — Gov. Perry on Obamatrade: ‘I Don’t Trust This President’

“I always like to preface all of this with, I’m a free trader, I’m for selling American products everywhere,” said Perry. “I’m a very strong proponent of economic development and trade. America can compete with anybody in the world…you give us a level playing field, and American workers will compete anywhere in the world. And we make good products, and our agricultural products are the best in the world.”

Fitbit (Eric Thayer / Getty)

Virally Competitive Fitbit Goes Public at $4 Billion Valuation

If Robin Leach visited the headquarters of Fibit, Inc. in San Francisco today, it would be all “champagne wishes and caviar dreams” as the leading wearable fitness tracker raised $793.5 million at a stunning valuation of $4.1 billion in the largest initial public offering (IPO) by any consumer electronics company in history.

Photo illustration of logo of car-sharing service app Uber on a smartphone over a reserved lane for taxis in a street in Madrid

Uber May Owe Billions, as Cal Labor Board Says Drivers Are Employees

In what may the most expensive employee labor claim in history, the California Labor Commission ruled Wednesday that an Uber California drivers is an “employee,” rather than an “independent contractor.” Uber could potentially be on the hook to pay about $200 million in employee taxes and benefits for 2014 alone.

Lynne Sladky/AP

Closings, Bankruptcies, Job Loss: Retail Sector Still Collapsing

Obama’s continued sluggish economy has been called a “jobless recovery,” an “illusory recovery,” sluggish, and slow. But even as most say a recovery is happening, it is still hard to tell from the retail sector, which continues to shrink. This month is no exception with many national chains announcing layoffs, cut backs, and closings.

Nick Ut/AP Photo

Union and Conservative Coalition Fighting TPP is Tipping-Point Event

For over 100 years, the American public viewed labor unions in a positive light. But after unions were body-slammed in battles against three not-so-free trade agreements negotiated by Democrat Presidents, manufacturing jobs plummeted and public opinion of unions went negative for the first time during Obama Administration.