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New York City Looks Ready to Pass Paid Sick Days Law
Tweet Share on Facebook March 29, 2013 CommentAfter three years of delay and obstruction, lawmakers in New York City Thursday finally crafted a deal that will require Big Apple businesses to provide their workers with paid sick days. The final hurdle to a deal—City Council speaker and mayoral hopeful Christine Quinn—finally succumbed to extensive pressure and will bring the measure to a vote. (Mayor Michael Bloomberg is opposed to the bill, but the council has enough votes to override his veto.)
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Wall Street’s Worried Sherrod Brown Will Be Banking Committee Chairman
Tweet Share on Facebook March 27, 2013 CommentWith Sen. Tim Johnson, D-S.D., officially headed for retirement, speculation regarding who will replace him as chairman of the Senate Banking Committee is well underway. And one option reportedly has Wall Street quaking in its boots: Sen. Sherrod Brown, D-Ohio.
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JP Morgan’s 'Whale Trade' Wins an Award as Wall Street Reform Withers
Tweet Share on Facebook March 22, 2013 CommentThe so-called "London Whale" trade—which cost mega-bank JP Morgan Chase upwards of $6 billion—was, by all accounts, a disaster for the firm. It invigorated interest in financial reform ideas that had been set on the backburner. It dented the reputation of the bank and its CEO, Jamie Dimon, as the savviest on the Street. And, of course, it put a notch in JP Morgan's bottom line.
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In the U.S. and the U.K., Ryan and Osborne Bank on Austerity
Tweet Share on Facebook March 20, 2013 CommentOn both sides of the Atlantic, conservatives are rolling out their latest budget plans. In the U.S., House Budget Committee Chairman Paul Ryan, R-Wis., unveiled this year's version of his "Path to Prosperity," which is scheduled for a vote on Thursday. In the U.K. today, finance minster George Osborne presented yet another budget on behalf of David Cameron's Tory government.
