Central banks must show leadership to rejuvenate global economy

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px 0px 14px; padding: 0px;"> <img alt="European Central Bank (ECB) headquarters. Photograph: Boris Roessler/EPA" data-pin-description="European Central Bank (ECB) headquarters in Frankfurt. Photograph: Boris Roessler/EPA" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Business/Pix/pictures/2007/12/19/ecb_boris_roessler_epa460.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> European Central Bank (ECB) headquarters in Frankfurt. Photograph: Boris Roessler/EPA</div> </div> <div id="article-body-blocks" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> The decade and a half after the tearing down of the Berlin Wall was a golden age for central banks. It was a time of strong growth and low inflation presided over by committees of technocrats charged with taking the politics out of the messy business of setting interest rates.</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> </div> </div></div>

Central banks must show leadership to rejuvenate global economy

European Central Bank (ECB) headquarters in Frankfurt. Photograph: Boris Roessler/EPA The decade and a half after the tearing down of...

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FTSE 100 and European indices record best annual rise since 2009

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px 0px 14px; padding: 0px;"> <img alt="New York Stock Exchange " data-pin-description="Traders at New York Stock Exchange ended the year on a high note as Wall Street recorded its best ­performance since 1997. Photograph Stephen Chernin/Getty Images" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Business/Pix/cartoon/2013/12/31/1388516258085/New-York-Stock-Exchange--008.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> Traders at New York Stock Exchange ended the year on a high note as Wall Street recorded its best ­performance since 1997. Photograph Stephen Chernin/Getty Images</div> </div> <div id="article-body-blocks" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> <strong style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"></strong></div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> Traders are toasting the strongest year for the <a href="http://www.theguardian.com/business/ftse" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #005689; margin: 0px; padding: 0px; text-decoration: none;" title="More from the Guardian on FTSE">FTSE</a> 100 since 2009 following a bumper crop of new entrants to the stock market.</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> </div> </div></div>

FTSE 100 and European indices record best annual rise since 2009

Traders at New York Stock Exchange ended the year on a high note as Wall Street recorded its best ­performance since 1997. Photograph Ste...

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10 hopeful things from 2013 that will get you inspired for what's to come

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px 0px 14px; padding: 0px;"> <img alt="COP19 in Warsaw" data-pin-description="New leaders, like the Philippines' Yeb Sano, emerged in the burgeoning climate change movement in 2013 Photograph: Kacper Pempel/Reuters" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/11/19/1384878324625/887b7cee-9fdd-42db-97ee-6d8f1f3265e8-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> New leaders, like the Philippines' Yeb Sano, emerged in the burgeoning climate change movement in 2013 Photograph: Kacper Pempel/Reuters</div> </div> <div id="article-body-blocks" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> There was something almost apocalyptic about 2013. Typhoon Haiyan slammed into the Philippines, the strongest storm ever recorded on land. It killed more than 6,000 people and affected millions. But it was just one of the 39 weather-related disasters costing $1bn or more in 2013.</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> </div> </div></div>

10 hopeful things from 2013 that will get you inspired for what's to come

New leaders, like the Philippines' Yeb Sano, emerged in the burgeoning climate change movement in 2013 Photograph: Kacper Pempel/Reut...

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German firms transplant European apprentice model to US

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px 0px 14px; padding: 0px;"> <img alt="APPRENTICE" data-pin-description="Third-year apprentice Hope Johnson at the Siemens plant in Charlotte, North Carolina. Photograph: Nanine Hartzenbusch/The Washington Post" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Guardian/Pix/GWeekly/2013/12/18/1387380596175/APPRENTICE-008.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> Third-year apprentice Hope Johnson at the Siemens plant in Charlotte, North Carolina. Photograph: Nanine Hartzenbusch/The Washington Post</div> </div> <div id="article-body-blocks" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> As a high school junior in Charlotte, North Carolina, Hope Johnson thought she had things figured out. She'd been hit with wanderlust during an academic trip to Brazil, set her sights on London's Richmond University and hoped to pursue a career in diplomacy.</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> </div> </div></div>

German firms transplant European apprentice model to US

Third-year apprentice Hope Johnson at the Siemens plant in Charlotte, North Carolina. Photograph: Nanine Hartzenbusch/The Washington Post...

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Where in the world to invest for a happy new year

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px 0px 14px; padding: 0px;"> <img alt="Chinese stockmarket Shanghai Composite Index" data-pin-description="An investor views stock prices at the Shanghai Composite Index. Photograph: China Photos/Getty Images" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Guardian/About/General/2013/12/27/1388149888244/Chinese-stockmarket-Shang-009.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> An investor views stock prices at the Shanghai Composite Index. Photograph: China Photos/Getty Images</div> </div> <div id="article-body-blocks" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> The start of the new year is a time to focus on making a few changes in your life. And for savvy investors that should mean an opportunity to rejig your portfolio. </div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> </div> </div></div>

Where in the world to invest for a happy new year

An investor views stock prices at the Shanghai Composite Index. Photograph: China Photos/Getty Images The start of the new year is a ...

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US states await key drones decision – and the billions that could follow

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="52bc44e4e4b09f9df01d1be9" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-e68d8d6e-fb0b-4c6f-83e6-474253dc7248" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Drones Raptr" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/26/1388072737040/Drones-Raptr-008.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">Full military-grade autopilot allows the Raptr to be pre-programmed to fly to hundreds of points on a map within a range of 10 miles under its own control. Photo: Guardian</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

US states await key drones decision – and the billions that could follow

Full military-grade autopilot allows the Raptr to be pre-programmed to fly to hundreds of points on a map within a range of 10 miles unde...

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US consumer spending rises at the fastest pace since June

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px 0px 14px; padding: 0px;"> <img alt="Bank of America branch" data-pin-description="US consumer confidence is rated high in new figures Photograph: Daniel Barry/EPA" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/23/1387826845187/Bank-of-America-branch-008.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> US consumer confidence is rated high in new figures Photograph: Daniel Barry/EPA</div> </div> <div id="article-body-blocks" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> US consumer sentiment hit a five-month high heading into the end of the year and spending has notched up its strongest month since the summer, in the latest signs of sustained vigour in the world's largest economy.</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> </div> </div></div>

US consumer spending rises at the fastest pace since June

US consumer confidence is rated high in new figures Photograph: Daniel Barry/EPA US consumer sentiment hit a five-month high heading ...

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Expiration of unemployment benefits threatens US recovery, adviser warns

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="52b85eb0e4b053cde70cf70a" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-4d6f9356-c2e2-442a-9b27-2cf801d10e78" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Nancy Pelosi" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/23/1387814571143/7777463b-77a3-444d-9de4-3c9c4de7f119-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">Democrats are planning a fresh push this week to highlight the issue, including a media conference call with Nancy Pelosi. Photograph: J Scott Applewhite/AP</figcaption></figure></div> </div> <div class="flexible-content-body" data-display-hint="" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> The expiration of benefits for 1.3 million jobless Americans this weekend will exacerbate the worst period of chronic unemployment in post-war history, the chairman of the White House council of economic advisers warns.</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> </div> </div></div>

Expiration of unemployment benefits threatens US recovery, adviser warns

Democrats are planning a fresh push this week to highlight the issue, including a media conference call with Nancy Pelosi. Photograph: J ...

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American consumer spending and incomes increase in November

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="52b861fce4b09f9df01d1ab4" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-a9ab0496-7874-41bf-9618-5ae812b6246a" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Shoppers in Chicago browse through coats during Black Friday shopping at Macy's." class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/23/1387815415367/00ae452a-4a1d-4dcd-9d68-6ffcacfbc915-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">Shoppers in Chicago browse through coats during Black Friday shopping at Macy's. Photograph: Andrew Nelles/AP</figcaption></figure></div> </div> <div class="flexible-content-body" data-display-hint="" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> Americans increased their spending in November by the most in five months, and their income edged up modestly.</div> </div></div>

American consumer spending and incomes increase in November

Shoppers in Chicago browse through coats during Black Friday shopping at Macy's. Photograph: Andrew Nelles/AP Americans increased...

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Ben Bernanke's tenure at the Fed wasn't net positive

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px 0px 14px; padding: 0px;"> <img alt="Ben Bernanke Testifies" data-pin-description="Outgoing Federal Reserve charmain Ben Bernanke before the United States Senate Committee on Banking, Housing, and Urban Affairs. Photograph: Ron Sachs/CNP/Corbis" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2012/3/13/1331664307102/Ben-Bernanke-Testifies-007.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> Outgoing Federal Reserve charmain Ben Bernanke before the United States Senate Committee on Banking, Housing, and Urban Affairs. Photograph: Ron Sachs/CNP/Corbis</div> </div> <div id="article-body-blocks" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> <a href="http://www.theguardian.com/business/federal-reserve" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #005689; margin: 0px; padding: 0px; text-decoration: none;" title="More from the Guardian on Federal Reserve">Federal Reserve</a> Board Chairman <a href="http://www.theguardian.com/business/ben-bernanke" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #005689; margin: 0px; padding: 0px; text-decoration: none;" title="More from the Guardian on Ben Bernanke">Ben Bernanke</a> gave his last press conference as chair and already the <a href="http://www.washingtonpost.com/blogs/wonkblog/wp/2013/12/18/this-is-how-history-should-judge-ben-bernanke/?hpid=z4" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #005689; margin: 0px; padding: 0px; text-decoration: none;">retrospectives have begun</a>. One item that should be corrected off the top, Bernanke did not just inherit an economic disaster from Alan Greenspan.</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> </div> </div></div>

Ben Bernanke's tenure at the Fed wasn't net positive

Outgoing Federal Reserve charmain Ben Bernanke before the United States Senate Committee on Banking, Housing, and Urban Affairs. Photogra...

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'Superman' Ben Bernanke prepares to fly out of US Federal Reserve

<div dir="ltr" style="text-align: left;" trbidi="on"> <br> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px 0px 14px; padding: 0px;"> <a class="mask" href="http://static.guim.co.uk/sys-images/Guardian/About/General/2013/12/21/1387621389030/Ben-Bernanke-cartoon-by-D-001.jpg" id="show-big-picture-link" itemprop="contentUrl representativeOfPage" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: left; color: #005689; display: block; float: left !important; margin: 0px; padding: 0px; position: relative; text-decoration: none;" title="View larger picture"><img alt="View larger picture" class="mask" height="83" src="http://static.guim.co.uk/static/10612b51319c78b6c2e5ac444e0a1664d6b86c24/common/images/magnifying-glass-mask.png" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; border: none; bottom: 0px; left: auto; margin-bottom: 0px; margin-left: 0px; margin-right: 10px; margin-top: 0px !important; padding: 0px; position: absolute; right: 0px; top: auto; vertical-align: bottom;" width="83"></a><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> .<img alt="Ben Bernanke cartoon by David Simonds" src="http://static.guim.co.uk/sys-images/Guardian/About/General/2013/12/21/1387621300128/Ben-Bernanke-cartoon-by-D-008.jpg" style="color: #333333; font-size: 14px;"></div> </div> <div id="article-body-blocks" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> Central bankers never look like superheroes. Has US <a href="http://www.theguardian.com/business/federal-reserve" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #005689; margin: 0px; padding: 0px; text-decoration: none;" title="More from the Guardian on Federal Reserve">federal reserve</a>boss <a href="http://www.theguardian.com/business/ben-bernanke" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #005689; margin: 0px; padding: 0px; text-decoration: none;" title="More from the Guardian on Ben Bernanke">Ben Bernanke</a> even tried on the blue tights, </div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> </div> </div></div>

'Superman' Ben Bernanke prepares to fly out of US Federal Reserve

. Central bankers never look like superheroes. Has US  federal reserve boss  Ben Bernanke  even tried on the blue tights, 

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Barack Obama rejects claims 2013 has been worst year of his presidency

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="52b57c25e4b09f9df01d18db" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-video" data-canonical-url="http://www.theguardian.com/world/video/2013/dec/21/barack-obama-defends-healthcare-reforms-video" data-show-ads="true" data-video-id="2017264" data-video-name="Barack Obama defends healthcare reforms - video" data-video-poster="http://static.guim.co.uk/sys-images/Guardian/Pix/audio/video/2013/12/21/1387623804913/Barack-Obama--016.jpg" data-video-provider="Reuters" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">Barack Obama conducts his final press conference of 2013 at the White House on Friday, assessing the successes and failures of the past year</figcaption></figure></div> </div> <div class="flexible-content-body" data-display-hint="" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> Barack Obama rejected suggestions that 2013 had been his worst period as president in a year-end press conference dominated by criticism of his handling of healthcare reforms and the NSA surveillance scandal.</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> </div> </div></div>

Barack Obama rejects claims 2013 has been worst year of his presidency

Barack Obama conducts his final press conference of 2013 at the White House on Friday, assessing the successes and failures of the past y...

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The Fed's route to the end of quantitative easing looks tricky

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px 0px 14px; padding: 0px;"> <img alt="(FILES)Dr. Janet Yellen speaks during he" data-pin-description="Janet Yellen is a step closer to taking over from Ben Bernanke as chair of the Federal Reserve. Photograph: Brendan Smialowski/AFP/Getty Images" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Guardian/About/General/2013/12/20/1387567774907/FILESDr.-Janet-Yellen-spe-009.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> Janet Yellen is a step closer to taking over from Ben Bernanke as chair of the Federal Reserve. Photograph: Brendan Smialowski/AFP/Getty Images</div> <div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> </div></div></div>

The Fed's route to the end of quantitative easing looks tricky

Janet Yellen is a step closer to taking over from Ben Bernanke as chair of the Federal Reserve. Photograph: Brendan Smialowski/AFP/Getty ...

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Senate set to clear Janet Yellen for Fed but confirmation will come in January

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="52b45f71e4b09f9df01d1882" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-51d53ecc-f826-4f6b-a300-2e66b84fffe3" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Federal Reserve vice chair Janet Yellen." class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/20/1387552621148/0bdaf3fd-c014-4cd1-a804-b076230fbc91-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">Federal Reserve vice-chair Janet Yellen is set to be promoted in January. Photograph: Jim Lo Scalzo/EPA</figcaption></figure></div> </div> <div class="flexible-content-body" data-display-hint="" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> The Senate is expected to wrap up its work for the year on Friday by moving to clear President Barack Obama's nomination of Janet Yellen to head the Federal Reserve. </div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> </div> </div></div>

Senate set to clear Janet Yellen for Fed but confirmation will come in January

Federal Reserve vice-chair Janet Yellen is set to be promoted in January. Photograph: Jim Lo Scalzo/EPA The Senate is expected to wra...

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I never thought I'd be an outlaw, but the Affordable Care Act might make me one

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px 0px 14px; padding: 0px;"> <img alt="Obamacare website" data-pin-description="'When I registered through New York State's healthcare marketplace, the cheapest plan wasn't affordable on my income.' Photograph: Karen Bleier/AFP/Getty Images" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/10/24/1382617365299/0b69d862-e7c2-4c53-a622-1037500e2d8f-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> 'When I registered through New York State's healthcare marketplace, the cheapest plan wasn't affordable on my income.' Photograph: Karen Bleier/AFP/Getty Images</div> </div> <div id="article-body-blocks" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> I want to – believe me, I do. But I'm not sure I should sign up for health insurance through the <a href="http://www.whitehouse.gov/healthreform/healthcare-overview" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #005689; margin: 0px; padding: 0px; text-decoration: none;">Affordable Care Act</a>, because for me, it's not affordable.</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> </div> </div></div>

I never thought I'd be an outlaw, but the Affordable Care Act might make me one

'When I registered through New York State's healthcare marketplace, the cheapest plan wasn't affordable on my income.' Ph...

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European markets rally on news of Federal Reserve move

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px 0px 14px; padding: 0px;"> <img alt="Ben Bernanke" data-pin-description="The outgoing Fed chairman Ben Bernanke announced a scaling back of the US's bond buying programme. Photograph: Zhang Jun/REX" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Business/Pix/cartoon/2013/12/19/1387482043089/Ben-Bernanke-009.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> The outgoing Fed chairman Ben Bernanke announced a scaling back of the US's bond buying programme. Photograph: Zhang Jun/REX</div> <div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> </div></div></div>

European markets rally on news of Federal Reserve move

The outgoing Fed chairman Ben Bernanke announced a scaling back of the US's bond buying programme. Photograph: Zhang Jun/REX

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Pleased, frustrated or angry? The many faces of Ben Bernanke

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="52b1bf99e4b008af53c5c901" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-53ce26d3-ffed-44ab-948e-459feebd9668" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Ben Bernanke moods" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/9/18/1379509694456/9b8d89f4-4107-4e0b-b409-e918eb273813-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">The rare Bernanke face of total concentration. Photograph: Charles Dharapak/AP</figcaption></figure></div> </div> <div class="flexible-content-body" data-display-hint="" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> Like a vexing magic eight ball, Ben Bernanke has for seven years delivered calm, cryptic economic missives to the world's leaders and financial community. </div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> </div> </div></div>

Pleased, frustrated or angry? The many faces of Ben Bernanke

The rare Bernanke face of total concentration. Photograph: Charles Dharapak/AP Like a vexing magic eight ball, Ben Bernanke has for s...

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To tackle economic inequality, we have to talk about our personal finances

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px 0px 14px; padding: 0px;"> <img alt="A Black Friday shopper counts her dollars at a Target store in Torrington, Connecticut " data-pin-description="'Talking about money is taboo, but it's necessary to understand inequality in our everyday lives.' Photograph: Jessica Rinaldi/Reuters" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/guardian/Pix/pictures/2011/11/25/1322217846919/A-Black-Friday-shopper-co-007.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> 'Talking about money is taboo, but it's necessary to understand inequality in our everyday lives.' Photograph: Jessica Rinaldi/Reuters</div> <div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> </div></div></div>

To tackle economic inequality, we have to talk about our personal finances

'Talking about money is taboo, but it's necessary to understand inequality in our everyday lives.' Photograph: Jessica Rinald...

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Detroit bankruptcy: appeals court can immediately consider pension decision

<div dir="ltr" style="text-align: left;" trbidi="on"> <h1 itemprop="name headline " style="background-color: white; background-repeat: no-repeat no-repeat; border-bottom-color: rgb(214, 29, 0); border-collapse: collapse; border-left-color: rgb(214, 29, 0); border-right-color: rgb(214, 29, 0); border-top-width: 0px; color: #333333; font-family: georgia, serif; font-size: 2.166em; font-weight: normal; line-height: 1.154; margin: 0px 0px 2px; padding: 0px; width: 460px;"> <div class="block" data-id="52af4229e4b0a4c35bcc0231" id="mainblock" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-b12d961f-3624-4928-9674-63eedec28a60" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Detroit bankruptcy" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/3/1386104239342/6431399c-a37b-46b6-8b42-601a74b22418-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">A man walk past graffiti in Detroit, Michigan, December 3, 2013. Photograph: Joshua Lott /Reuters</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></h1></div>

Detroit bankruptcy: appeals court can immediately consider pension decision

A man walk past graffiti in Detroit, Michigan, December 3, 2013. Photograph: Joshua Lott /Reuters

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Why the Federal Reserve must taper quantitative easing before Christmas

<div dir="ltr" style="text-align: left;" trbidi="on"> <div style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin-bottom: 13px; padding: 0px;"> Just do it. That's the message for the <a href="http://www.theguardian.com/business/federal-reserve" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #005689; margin: 0px; padding: 0px; text-decoration: none;" title="More from the Guardian on Federal Reserve">Federal Reserve</a> as it decides this week whether its Christmas present to the American people should be to start scaling back on the $85bn (£52bn) in newly minted electronic money it is chucking at the American economy each month.</div> <div style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin-bottom: 13px; padding: 0px;"> Wall Street thinks – and hopes – an announcement this week is unlikely. Financiers have enjoyed the Fed's gigantic monetary experiment. They have exchanged Treasury bills and mortgage-backed securities for cash, which they have used to play the global markets.</div> <div style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18.98714256286621px; margin-bottom: 13px; padding: 0px;"> </div> </div>

Why the Federal Reserve must taper quantitative easing before Christmas

Just do it. That's the message for the  Federal Reserve  as it decides this week whether its Christmas present to the American people ...

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Fed chief's exit may spell the end for US economic stimulus

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px 0px 14px; padding: 0px;"> <img alt="Federal Reserve Board Of Governors Meet To Discuss Volcker Rule" data-pin-description="Current Federal Reserve chairman Ben Bernanke, with Janet Yellen, his successor, who is likely to have to solve the QE conundrum. Photograph: Alex Wong/Getty Images" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Guardian/About/General/2013/12/13/1386941032275/Federal-Reserve-Board-Of--009.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> Current Federal Reserve chairman Ben Bernanke, with Janet Yellen, his successor, who is likely to have to solve the QE conundrum. Photograph: Alex Wong/Getty Images</div> <div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> </div></div></div>

Fed chief's exit may spell the end for US economic stimulus

Current Federal Reserve chairman Ben Bernanke, with Janet Yellen, his successor, who is likely to have to solve the QE conundrum. Photogr...

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US budget deal: Congress' epiphany that austerity right now is foolish

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px 0px 14px; padding: 0px;"> <img alt="US budget deal" data-pin-description="Senate Budget Committee chairman Patty Murray (D-WA) (R) and House Budget Committee chairman Paul Ryan (R-WI) hold a news conference to introduce The Bipartisan Budget Act. Photograph: Jonathan Ernst /Reuters" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/11/1386723199994/502126b4-aa23-48d8-b976-5b0affbdedbd-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> Senate Budget Committee chairman Patty Murray (D-WA) (R) and House Budget Committee chairman Paul Ryan (R-WI) hold a news conference to introduce The Bipartisan Budget Act. Photograph: Jonathan Ernst /Reuters</div> <div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> </div></div></div>

US budget deal: Congress' epiphany that austerity right now is foolish

Senate Budget Committee chairman Patty Murray (D-WA) (R) and House Budget Committee chairman Paul Ryan (R-WI) hold a news conference to i...

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US unemployment claims rise sharply but recent economic growth intact

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="52a9fa6de4b008af53c5c2c4" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-c5357693-588b-44ae-9d9d-92b5d7cfb554" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Job fair" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/4/1386172669832/Job-fair-010.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">Reports indicate the labour market is strengthening, with nonfarm payrolls increasing solidly in October and November. Photograph: Getty Images</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

US unemployment claims rise sharply but recent economic growth intact

Reports indicate the labour market is strengthening, with nonfarm payrolls increasing solidly in October and November. Photograph: Getty ...

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House Republicans set to vote for bipartisan budget bill

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="52a9e979e4b07fd4d02fa57a" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-be9c0a59-4059-48b5-9ccf-49f028a8933c" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Paul Ryan and Patty Murray" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/12/1386867060753/30f7dec6-6c66-49e3-973f-03e39fd9b52f-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">Paul Ryan and Patty Murray announce their budget deal. Photograph: J Scott Applewhite/AP</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

House Republicans set to vote for bipartisan budget bill

Paul Ryan and Patty Murray announce their budget deal. Photograph: J Scott Applewhite/AP

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The winners and losers of the Murray-Ryan budget deal

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="52a8e1e1e4b04dee990ffded" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-00f2d370-9be9-4011-9f47-56bec6dbdc16" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Senate Budget Committee chairman Senator Patty Murray and House Budget Committee chairman Representative Paul Ryan depart after a news conference to introduce The Bipartisan Budget Act of 2013 at the U.S. Capitol" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/11/1386799581054/53195904-10c2-449a-85d6-6f784d3c9d80-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">Senator Patty Murray and Representative Paul Ryan depart after a news conference to introduce the Bipartisan Budget Act. Photograph: Jonathan Ernst/Reuters</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

The winners and losers of the Murray-Ryan budget deal

Senator Patty Murray and Representative Paul Ryan depart after a news conference to introduce the Bipartisan Budget Act. Photograph: Jona...

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Fragile US budget deal under fire from both Republicans and Democrats

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="52a8ac06e4b07fd4d02fa447" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-65542004-db34-446c-83b3-a05fc27b193f" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="US budget deal" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/11/1386785793823/b33edac6-17db-4ff9-9b65-dc8b049797cb-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">'They're using our members and they are using the American people for their own goals,' Boehner said of groups attacking the deal. Photo: J Scott Applewhite /AP</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

Fragile US budget deal under fire from both Republicans and Democrats

'They're using our members and they are using the American people for their own goals,' Boehner said of groups attacking the ...

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Everything you need to know about the Volcker Rule

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="52a79b24e4b08659a9046fb4" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-cf0d1f8c-d17f-4ecc-9ac1-88df618046bc" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Federal Reserve Board chairman Ben Bernanke and Janet Yellen, vice-chair and President Obama's nominee to succeed Bernanke," class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/10/1386715936051/85808127-f152-4c42-b01c-74609a96732b-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">Federal Reserve Board chairman Ben Bernanke and Janet Yellen, vice-chair at a meeting to discuss the Volcker Rule. Photograph: Alex Wong/Getty Images</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

Everything you need to know about the Volcker Rule

Federal Reserve Board chairman Ben Bernanke and Janet Yellen, vice-chair at a meeting to discuss the Volcker Rule. Photograph: Alex Wong/...

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US congressional leaders unveil two-year budget deal

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="52a7b784e4b0f49f8dbe2977" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-58c4a046-d211-4478-a371-1f1b1678d738" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="US budget deal" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/11/1386723199994/502126b4-aa23-48d8-b976-5b0affbdedbd-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">Senator Patty Murray and Representative Paul Ryan hold a news conference to introduce The Bipartisan Budget Act of 2013. Photograph: Jonathan Ernst /Reuters</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

US congressional leaders unveil two-year budget deal

Senator Patty Murray and Representative Paul Ryan hold a news conference to introduce The Bipartisan Budget Act of 2013. Photograph: Jona...

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Congress should stop the Scrooge routine and extend jobless benefits

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px 0px 14px; padding: 0px;"> <img alt="Actor Jim Carrey as Ebenezer Scrooge" data-pin-description="Act Jim Carrey as Ebenezer Scrooge. Photograph: Disney" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2012/12/17/1355745070637/Actor-Jim-Carrey-as-Ebene-008.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> Act Jim Carrey as Ebenezer Scrooge. Photograph: Disney</div> <div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> </div></div></div>

Congress should stop the Scrooge routine and extend jobless benefits

Act Jim Carrey as Ebenezer Scrooge. Photograph: Disney

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Wall Street facing tighter scrutiny as regulators move on Volcker rule

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="52a74e56e4b08659a9046f4e" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-6e3d9da2-5800-4af7-9cbe-c0ba3f405fea" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Paul Volcker testifies before the US Senate Banking, Housing, and Urban Affairs Committee" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Business/Business_competitions/pictures/2013/12/10/1386662997540/Paul-Volcker-testifies-be-001.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">The rule is named after the former Federal Reserve chairman Paul Volcker. Photograph: Jim Young /Reuters</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

Wall Street facing tighter scrutiny as regulators move on Volcker rule

The rule is named after the former Federal Reserve chairman Paul Volcker. Photograph: Jim Young /Reuters

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America's reputation for sound economic policymaking takes a beating

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px 0px 14px; padding: 0px;"> <img alt="US economy" data-pin-description="US economic growth outstriped that of Europe in 2013 and the budget deficit shrank. But America the could have – and should have – done better. Photograph: Mark Lennihan/AP" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Business/Pix/pictures/2013/12/10/1386683095025/US-economy-008.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> US economic growth outstriped that of Europe in 2013 and the budget deficit shrank. But America the could have – and should have – done better. Photograph: Mark Lennihan/AP</div> <div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> </div></div></div>

America's reputation for sound economic policymaking takes a beating

US economic growth outstriped that of Europe in 2013 and the budget deficit shrank. But America the could have – and should have – done b...

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Let's get this straight: AIG execs got bailout bonuses, but pensioners get cuts

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px 0px 14px; padding: 0px;"> <img alt="A pensioner protests pensions cuts in Detroit" data-pin-description="City of Detroit pensioner Donald Smith sits across the street from the Federal Court House, to protest cuts in city workers' pensions. Photograph: Rebecca Cook/Reuters" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/10/28/1382976424404/A-pensioner-protests-pens-010.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> City of Detroit pensioner Donald Smith sits across the street from the Federal Court House, to protest cuts in city workers' pensions. Photograph: Rebecca Cook/Reuters</div> <div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> </div></div></div>

Let's get this straight: AIG execs got bailout bonuses, but pensioners get cuts

City of Detroit pensioner Donald Smith sits across the street from the Federal Court House, to protest cuts in city workers' pensions...

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Millennials may be disgusted with Washington, but we're not all apathetic

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px 0px 14px; padding: 0px;"> <img alt="Occupy Wall Street Protests" data-pin-description="Youth participation has been critical in American political actions from climate change to Occupy. Photograph: James Fassinger" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Guardian/Pix/Gallery_Images/2011/9/29/1317331455401/Occupy-Wall-Street-Protes-007.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> Youth participation has been critical in American political actions from climate change to Occupy. Photograph: James Fassinger</div> <div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> </div></div></div>

Millennials may be disgusted with Washington, but we're not all apathetic

Youth participation has been critical in American political actions from climate change to Occupy. Photograph: James Fassinger

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David Simon: 'There are now two Americas. My country is a horror show'

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px 0px 14px; padding: 0px;"> <img alt="The Wire creator David Simon in Baltimore" data-pin-description="David Simon, creator of The Wire, near his office in Baltimore. Photograph: Stephen Voss/Redux / eyevine" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Observer/Pix/pictures/2013/12/7/1386426689660/The-Wire-creator-David-Si-008.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> David Simon, creator of The Wire, near his office in Baltimore. Photograph: Stephen Voss/Redux / eyevine</div> <div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> </div></div></div>

David Simon: 'There are now two Americas. My country is a horror show'

David Simon, creator of The Wire, near his office in Baltimore. Photograph: Stephen Voss/Redux / eyevine

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Barack Obama urges Congress to extend benefits for long-term jobless

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px 0px 14px; padding: 0px;"> <img alt="US President Barack Obama speaks during" data-pin-description="President Barack Obama speaks during the National Christmas Tree Lighting ceremony near the White House on Friday. Photograph: Nicholas Kamm/AFP/Getty " height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/7/1386427983168/US-President-Barack-Obama-008.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> President Barack Obama speaks during the National Christmas Tree Lighting ceremony near the White House on Friday. Photograph: Nicholas Kamm/AFP/Getty</div> <div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> </div></div></div>

Barack Obama urges Congress to extend benefits for long-term jobless

President Barack Obama speaks during the National Christmas Tree Lighting ceremony near the White House on Friday. Photograph: Nicholas K...

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Breakthrough in landmark trade talks – as it happened

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="52a1b686e4b0a8ed49b8091a" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; border-top-style: none; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 4px 0px 0px; overflow: hidden; padding: 0px 0px 3px; word-wrap: break-word;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-8cfd20e9-4d4a-432a-8f31-e9faebdf7ae5" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Women perform a traditional dance during a protest against the World Trade Organisation (WTO) in Nusa Dua, Bali. Trade negotiators meeting on the island are on the brink of a deal." class="gu-image" height="372" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/6/1386329732137/098e3259-0510-400e-9a38-13491af5af9e-620x372.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="620"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">Women perform a traditional dance during a protest against the World Trade Organisation (WTO) in Nusa Dua, Bali. Trade negotiators meeting on the island say they are on the brink of a deal. <br style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;">Sonny Tumbelaka/afp/Getty Images</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

Breakthrough in landmark trade talks – as it happened

Women perform a traditional dance during a protest against the World Trade Organisation (WTO) in Nusa Dua, Bali. Trade negotiators meetin...

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US unemployment falls to lowest level for five years as 203,000 jobs added

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="52a1dab5e4b0a8ed49b80955" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-1e93968e-f9a7-44a9-8fc2-ada859787ba2" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Job fair" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/6/1386338992706/0102279d-79f1-4d0f-a283-485090856178-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">A job fair for veterans at the VFW Post 2681, Marietta, Georgia. Unemployment for African Americans remains at 12.5%. Photograph: David Goldman/AP</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

US unemployment falls to lowest level for five years as 203,000 jobs added

A job fair for veterans at the VFW Post 2681, Marietta, Georgia. Unemployment for African Americans remains at 12.5%. Photograph: David G...

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US fast-food workers strike over low wages in nationwide protests

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="52a0ac72e4b0a8ed49b80816" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-7b9dd276-9e5f-431a-b668-0c765c4840a7" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Fast food protests" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/5/1386261613840/d931ec05-13ee-4124-b3d0-40cb82ec228e-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">MoveOn members are protesting at McDonald's locations in Seattle, San Francisco, New York, Los Angeles and Chicago. Photograph: Eduardo Munoz /Reuters</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

US fast-food workers strike over low wages in nationwide protests

MoveOn members are protesting at McDonald's locations in Seattle, San Francisco, New York, Los Angeles and Chicago. Photograph: Eduar...

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Hollywood has blockbuster impact on US economy that tourism fails to match

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="52a09661e4b0f5ad20321409" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-ac0cfa01-6aa0-4702-9faa-d6594bea4c44" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt=" Hollywood sign" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/About/General/2010/4/27/1272390832868/-Hollywood-sign-006.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">Famously vacuous, surprisingly valuable. Photograph: Fred Prouser/Reuters</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

Hollywood has blockbuster impact on US economy that tourism fails to match

Famously vacuous, surprisingly valuable. Photograph: Fred Prouser/Reuters

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US economy grew 3.6% in third quarter at fastest rate since 2012

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="52a0880be4b0f5ad203213ed" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <br> <figure class="element element-image" data-media-id="gu-fc-2faa641b-13ca-4948-b0e6-0132bf9d49af" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="New York stock exchange" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/5/1386252294656/82101a50-6ea6-4dc3-829d-862c5dc42820-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">A trader works on the floor of the New York Stock Exchange on Wednesday. Photograph: Andrew Burton/Getty Images</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

US economy grew 3.6% in third quarter at fastest rate since 2012

A trader works on the floor of the New York Stock Exchange on Wednesday. Photograph: Andrew Burton/Getty Images

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Obama throws support to minimum wage movement in economy speech

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="529f7d6de4b083f5f98d93d7" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-44984ff6-8fbb-4e80-8a5d-0f1033099eed" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Obama on income inequality" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/4/1386184042045/756a78c2-e3d1-4243-b98f-24d2e46db0be-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">President Barack Obama speaks about the economy and growing economic inequality in Washington. Photograph: Evan Vucci/AP</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

Obama throws support to minimum wage movement in economy speech

President Barack Obama speaks about the economy and growing economic inequality in Washington. Photograph: Evan Vucci/AP

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ADP numbers show US job market growth despite government shutdown

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="529f510fe4b083f5f98d93aa" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-2f1ed9f8-b990-4770-92f5-f900588390cb" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Job fair" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/4/1386172669832/Job-fair-010.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460" /><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">ADP’s report suggests that the government shutdown and argument over raising the debt ceiling had little impact on hiring. Photograph: Getty Images</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"><br /></figcaption></figure></div> </div> <div class="flexible-content-body" data-display-hint="" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> The US job market remained “surprisingly resilient” through the government shutdown, adding 215,000 new positions in November, payroll processor ADP said Wednesday.</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> The latest figures from the payroll giant are the strongest it has reported this year. They come ahead of the government’s own monthly jobs report on Friday, a key economic indicator being closely watched by the Federal Reserve as it considers cuts to its $85bn a month economic stimulus programme.</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> Economist had forecast ADP would announce a monthly increase of around 173,000. ADP also revised its October number up to 184,000 from an initially reported 130,000.</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> ADP’s report suggests fears that despite fears to the contrary the government shutdown and argument over raising the debt ceiling had little impact on hiring. Jobs growth through the month was broad-based with small business, seen as the main engine of hiring, adding 102,000, the largest increase by sector.</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> Goods-producing companies added 40,000 jobs in November, up from 29,000 in October.</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> Both construction and manufacturing payrolls added 18,000 jobs apiece. The gain for manufacturing was the largest since early 2012. Service industries added 176,000 jobs in November, the largest gain in a year and up from 156,000 in October.</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> Mark Zandi, chief economist of Moody’s Analytics, which helps compile the report, said: "The job market remained surprisingly resilient to the government shutdown and brinkmanship over the treasury debt limit. Employers across all industries and company sizes looked through the political battle in Washington. If anything, job growth appears to be picking up.”</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> Carlos Rodriguez, president and chief executive officer of ADP, said: “It’s an encouraging sign as we head toward the new year.”</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> Friday’s nonfarm payroll figures from the Labor Department are the last before the Fed meets mid December to discuss trimming the so-called quantitative easing programme. The Fed has clearly signaled that the programme will be cut if and when the jobs market appears more firmly recovered.</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> Last month the US announced it had added 204,000 new jobs in October, higher than expected. Figures for August and September were also revised upward. Economists are predicting that the US added around 185,000 new jobs in November.</div> <div style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin-bottom: 13px; padding: 0px;"> If the government figures tally with ADP, the likelihood of a cut in QE will increase. “Consistent job growth of around 175,000 to 200,000 per month makes it likely that the Federal Open Market Committee will start to reduce its purchases of $85bn per month of long-term treasuries and mortgage-backed securities at its late January meeting,” PNC Bank said in a note to investors.</div> </div> </div>

ADP numbers show US job market growth despite government shutdown

ADP’s report suggests that the government shutdown and argument over raising the debt ceiling had little impact on hiring. Photograph: Ge...

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Tax breaks for CEOs pay for million-dollar salaries

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="529e40f8e4b0acc591790af5" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-c80b4080-bf69-488d-9e4b-98eb1cb35cde" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="empty wallet low pay " class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/3/1386103028374/0ffe48e1-dd61-4a43-a118-4435d79074f1-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">While minimum-wage workers are living from paycheck to paycheck, executives are raking in millions of dollars' worth of compensation. Photograph: Martin Godwin</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

Tax breaks for CEOs pay for million-dollar salaries

While minimum-wage workers are living from paycheck to paycheck, executives are raking in millions of dollars' worth of compensation....

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Gridlocked Congress on track for least productive year in history

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="529e2b76e4b083f5f98d92bf" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-9dd65b1e-ed47-4ce8-b69e-45890d8165bd" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="John Boehner" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/3/1386097595918/2d718f64-7b2d-486a-b30d-660c6fdf908c-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">'The House continues to do its job; it's time for the Senate to get serious about its,' Boehner said. Photo: J Scott Applewhite /AP</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

Gridlocked Congress on track for least productive year in history

'The House continues to do its job; it's time for the Senate to get serious about its,' Boehner said. Photo: J Scott Applewhi...

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Detroit granted bankruptcy protection after judge rules in city's favour

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="529de254e4b0acc591790a9f" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-b6c03d7a-f91d-45e1-b261-0cf702429732" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Detroit bankruptcy" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/3/1386091691142/e6b8db3f-c5e9-4a51-acc1-57b49063e9a0-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">Unions said Kevyn Orr had not taken enough time to negotiate with creditors before filing for bankruptcy. Photograph: James Fassinger/theguardian.com</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

Detroit granted bankruptcy protection after judge rules in city's favour

Unions said Kevyn Orr had not taken enough time to negotiate with creditors before filing for bankruptcy. Photograph: James Fassinger/the...

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Detroit bankruptcy: historic ruling looms over struggling city

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="529cf4b9e4b083b815ae54c0" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-a314914a-a40d-4b03-8891-c97acda4a2d6" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="detroit bankruptcy trial" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/11/5/1383688737390/e26ae788-8acc-41ae-b44d-867efe0bb303-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">Protesters demonstrate against cuts in Detroit city workers' pensions and healthcare during Detroit's bankruptcy eligibility trial in Detroit. Photograph: Rebecca Cook /Reuters</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

Detroit bankruptcy: historic ruling looms over struggling city

Protesters demonstrate against cuts in Detroit city workers' pensions and healthcare during Detroit's bankruptcy eligibility tria...

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Thanksgiving sales numbers down as US waits for new economic forecast

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="529cbd90e4b0999a297a9426" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-0d7715ee-2f5c-4b8c-b53e-349227e7d47a" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Shoppers at a J Crew factory store north of Atlanta" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/2/1386003852309/9309f16d-884a-4a61-800e-c3f5a0556419-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">Shoppers at a J Crew factory store north of Atlanta on Black Friday. Photograph: Robin Nelson/Zuma Press/Corbis</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

Thanksgiving sales numbers down as US waits for new economic forecast

Shoppers at a J Crew factory store north of Atlanta on Black Friday. Photograph: Robin Nelson/Zuma Press/Corbis

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Bank of America to pay $404m to Freddie Mac to settle home loan claims

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="block" data-id="529caebfe4b083b815ae549a" id="mainblock" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; clear: both; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px; padding: 0px;"> <div class="block-elements" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;"> <figure class="element element-image" data-media-id="gu-fc-07662d75-e526-4f8e-9d00-90acf835db4c" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px 0px 10px; padding: 0px;"><img alt="Bank of America" class="gu-image" height="276" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/12/2/1386000058506/a8e88919-aad1-4f4b-88be-98afeae18f33-460x276.jpeg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; display: block; margin: 0px auto 5px; padding: 0px;" width="460"><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">Earlier this year, Bank of America agreed to pay $3.6bn in cash to Freddie's sibling company, Fannie Mae. Photograph: Brendan Smialowski /AFP /Getty Images</figcaption><figcaption style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></figure></div></div></div>

Bank of America to pay $404m to Freddie Mac to settle home loan claims

Earlier this year, Bank of America agreed to pay $3.6bn in cash to Freddie's sibling company, Fannie Mae. Photograph: Brendan Smialow...

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Housing bubble 2.0 can only end badly

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px 0px 14px; padding: 0px;"> <img alt="A foreclosed home in Las Vegas, 2008" data-pin-description="A foreclosed home in Las Vegas, 2008. Is the housing boom and bust about to repeat? Photograph: Ethan Miller/Getty Images" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Business/Pix/pictures/2013/12/2/1385993308281/A-foreclosed-home-in-Las--008.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> A foreclosed home in Las Vegas, 2008. Is the housing boom and bust about to repeat? Photograph: Ethan Miller/Getty </div> <div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> Images</div> <div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> </div></div></div>

Housing bubble 2.0 can only end badly

A foreclosed home in Las Vegas, 2008. Is the housing boom and bust about to repeat? Photograph: Ethan Miller/Getty  Images

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Gold price plunges as confident investors pile out of safe havens

<div dir="ltr" style="text-align: left;" trbidi="on"> <div id="main-content-picture" itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px 0px 14px; padding: 0px;"> <img alt="albemarle & bond pawnbrokers in hammersmith, west london, england" data-pin-description="Pawnbroker Albemarle & Bond has been melting down gold jewellery to pay its debts. Photograph: Alamy" height="276" itemprop="contentUrl representativeOfPage" src="http://static.guim.co.uk/sys-images/Observer/Pix/pictures/2013/11/29/1385751647545/albemarle--bond-pawnbroke-009.jpg" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; margin: 0px; padding: 0px;" width="460"><div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> Pawnbroker Albemarle & Bond has been melting down gold jewellery to pay its debts. Photograph: Alamy</div> <div class="caption" itemprop="caption" style="background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-size: 12px; margin: 0px; padding: 0px;"> </div></div></div>

Gold price plunges as confident investors pile out of safe havens

Pawnbroker Albemarle & Bond has been melting down gold jewellery to pay its debts. Photograph: Alamy

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Black Friday events and protests – live

<div dir="ltr" style="text-align: left;" trbidi="on"> <img alt="Instead of waiting for Black Friday, which is typically the year's biggest shopping day, more than a dozen major retailers opened on Thanksgiving day this year. " class="gu-image" height="372" src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/11/29/1385736819625/accd5351-b75f-4d15-9b55-c3be3c844a9d-620x372.jpeg" style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #333333; display: block; font-family: arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px auto 5px; padding: 0px;" width="620"><br> <figcaption style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-family: arial, sans-serif; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;">Instead of waiting for Black Friday, which is typically the year's biggest shopping day, more than a dozen major retailers opened on Thanksgiving day this year. Photograph: Jeff Chiu/AP</figcaption><figcaption style="background-color: white; background-repeat: no-repeat no-repeat; border-collapse: collapse; color: #666666; font-family: arial, sans-serif; font-size: 0.858em; line-height: 1.25; margin: 0px 0px 10px; padding: 0px;"></figcaption></div>

Black Friday events and protests – live

Instead of waiting for Black Friday, which is typically the year's biggest shopping day, more than a dozen major retailers opened on T...

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