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How To Fix Your Credit (Part 2)

How To Fix Your Credit (Part 2)

Accurate Negative Information Report When the negative information recorded in your report is accurate, it will only be deleted in the course of time. A consumer reporting company can report most accurate negative information for seven years and bankruptcy information for 10 years. Information about an unpaid monetary judgment issued against it may be reported for seven years or until the statute of limitations expires, whichever occurs later. The reporting period begins to run from the date on which the…

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Welcome to The End of Job Growth?

Welcome to The End of Job Growth?

(Reuters) There’s a ritual every first Friday of the month. The Bureau of Labor Statistics releases its initial estimate for how many jobs were added or lost the previous four weeks; everybody scrutinizes that; and then Betsey Stevenson and Justin Wolfers tell us what it all means. (Oh, and Jack Welch insists it’s all rigged). But this tradition is going to change a bit the next few years: there aren’t going to be as many jobs to obsess over. Now,…

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Emerging Power: Developing Nations Now Claim the Majority of World GDP

Emerging Power: Developing Nations Now Claim the Majority of World GDP

For the first time since the 1800s, the developing world has surpassed the developed one (Reuters) Don’t tell Niall Ferguson, but the rest have eclipsed the West. As Chris Giles of the Financial Times points out, in 2013, so-called “emerging markets” have accounted for more than half of world GDP for the first time since Britain industrialized over two centuries ago. And the catchup growth isn’t nearly finished yet. As you can see in the chart below from the Financial…

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Should We Trust Economists?

Should We Trust Economists?

They’re fractious, frequently wrong, and have lost much of the public’s faith. But their insights are still valuable — as long as you don’t expect them to predict the future. (Reuters) Imagine you are the Royal Physician in England some time during the 14th century. The prince is sick, and you’ve been summoned to help. You call in two experts for advice. The first says: “Use leeches to suck out the evil humors.” The second says “No, you must bleed…

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The Lady Gaga Fix: How the U.S. Is Rethinking GDP for the 21st Century

The Lady Gaga Fix: How the U.S. Is Rethinking GDP for the 21st Century

The government will soon start counting creative endeavors like songwriting as well as research and development when it measures the economy. It’s about time. (Reuters) This week the government released yet another revision of first-quarter economic growth showing that the U.S. economy grew a tad less than initially reported ‑- 2.4 percent rather than 2.5 percent. This revision was hardly consequential, but over the summer the Bureau of Economic Analysis will unveil a new way to calculate the overall output…

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Warren Buffett buys Las Vegas power supplier NV Energy for $5.6bn

Warren Buffett buys Las Vegas power supplier NV Energy for $5.6bn

MidAmerican Energy will purchase NV Energy’s common stock for $ 23.75 per share, a 23pc premium to NV’s closing price on Wednesday, Reuters reported.. “This is a great fit for Berkshire Hathaway, and we are pleased to make a long-term investment in Nevada’s economy,” Berkshire Hathaway chairman Warren Buffett said in a statement. Las Vegas-based NV Energy, which serves about 2.4m people in Nevada, said last month it would accelerate the retirement of its coal-fired power generating facilities and the…

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