China faces rising lending bubble risks to world growth
An AP survey of 30 economists warns that China’s credit surge, spurred by 2008 stimulus and fueled by local government projects, could destabilize global markets if unchecked. IMF notes shadow lending and local-government debt risks. analysts expect reforms to steady banks without derailing growth.
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Minimum wage bill faces Senate rejection in 2016 path
President Obama and Democrats push a Harkin wage bill to raise the federal minimum from 7.25 to 10.10 by 2016. Republicans oppose. Corker backs debate but would oppose final passage. The plan aims to energize Democratic voters, especially women and youth, in upcoming elections despite likely 60 vote hurdle.
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Google Driverless Cars Master City Streets
Google reports its self driving cars have begun to master urban navigation facing jaywalkers bicyclists and other city challenges. Project leader Chris Urmson says the team is optimistic about a driverless future though broad commercial availability remains years away and safety remains the priority.
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