Budget deficit forecast tops three hundred billion
The Congressional Budget Office projects the current fiscal year will exceed 300 billion dollars, driven by defense spending and a weak economy. Republicans push tax cuts while Democrats warn of worsened deficits, with April revenues lagging and total spending rising, led by defense, Social Security, and Medicare.
MENTIONED IN THIS ARTICLE
Washington
Congressional Budget Office
Congress
CBO
Budget Office
House
Senate
Bush
Stocks build on recent gains in New York rally
On Monday Wall Street extended its rally with the Dow up 122.13 points to 8726.73 and broader indices sharply higher. Nasdaq rose 21.25 to 1541.40 while the S P 500 gained 11.70 to 45.11 as investors awaited first quarter results and news remained light. Major boosts came from Wal Mart Target and Dell ahead of earnings with upgrades lifting others such as Ann Taylor and Cisco Systems.
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New York
Wall Street
Michael Murphy
Wader
Wachovia Securities
Baltimore
Murphy
Dow
Standard & Poor
S&p
Ket
Richard A. Dickson
Lowry
Palm Beach
Fla
Wal-Mart
Target
Dell
Ann Taylor
Prudential Securities
Cisco Systems
Lehman Brothers
New York Stock Exchange
Scams Target Military Families and Email Users Reported
The IRS warns of two new tax scams using the IRS name. One calls relatives of service members claiming a $4000 refund and asks for a credit card to cover a $42 postage fee. The other sends emails with links to a fake IRS page asking for personal and financial data. TIGTA oversees investigations and provides contact options for reports.
MENTIONED IN THIS ARTICLE
IRS
Office of the Treasury
Gener
al For Tax Administration
TIGTA
Ben Franklin
Washington
D.C
Ustreas.gov
Democracy and executive power at Comcast annual meeting
At Comcast's Philadelphia meeting CEO Brian Roberts faced shareholder questions about pay and insider directors. Attendees urged living wages and independent oversight, but management won votes on proposals while critics argued the system preserves insiders and limits democracy.
MENTIONED IN THIS ARTICLE
Comcast
Brian Roberts
Philadelphia
Communications Union
Comcast At&t
Roberts
First Union Center
Online auction fraud twists echo in antiques market
Antiques dealer Thomas Perry faced a wave of fraud as pirates used his images and poodle Buffalo to list ship wheels and other items on eBay. With 69 million users and 16 million items, fake sites and password schemes complicate scams. Federal and state actions claim 57 cases involving nondelivery across items from jewelry to dental gear. eBay defends policies while promising new security measures.
MENTIONED IN THIS ARTICLE
Thomas Perry
Chester
Conn
Buffalo
Perry
eBay
Peodie
England
Cartier
Federal Trade Commission
Yahoo
eBay Inc
San Jose
Calif
Tal- Ebay
Rob Chesnut
Treasury sells $28 billion in short term bills
Washington AP reports Treasury sold 14 billion in three month bills at a discount rate of 0.70 percent and 14 billion in six month bills at 1.00 percent. Discount rates imply yields of 1.089 percent for the three month bill and 1.124 percent for the six month bill. Federal Reserve notes average yields rising to 1.23 percent last week.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Treasury Department
Federal Reserve
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Kyle Quinn
The
Washington Post
America
Cyberfraud
Treasury Dept
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