The following is a rundown of the day’s news drawn from other media sources with topics curated just for Money and Markets readers: Federal Budget, Personal security and freedom and Business and finance!
Federal budget
Republicans and Tea Party Activists in ‘Full Scale Civil War’
The speaker lashed out at Tea Party activists. “Well, frankly, I think they’re misleading their followers,” House Speaker John Boehner told reporters. “I think they’re pushing our members in places where they don’t want to be. And, frankly, I just think that they’ve lost all credibility.”
Conservative Groups Fire Back at Boehner ‘Credibility’
“When it comes to ‘credibility,’ actions speak louder than words,” FreedomWorks President Matt Kibbe said in a statement. “And right now, it looks like the speaker is leading the charge for spending increases and recruiting Democrat votes in the House to help get it done.”
Pelosi on Budget Deal: ‘Embrace the Suck’
“Embrace the suck,” House minority leader Rep. Nancy Pelosi told fellow Democrats Thursday morning. It’s a way of telling her colleagues the budget deal negotiated with Republicans is the best they can get.
House Passes Budget Bill to Increase Spending, Reverse Some Automatic Cuts
The bill, which raises discretionary spending and replaces $63 billion that would have been otherwise automatically cut from the budget with more targeted cuts and fees, is the most significant budget agreement since the Republicans won control of the House in 2010.
Budget Plan Could Cost Service Members $124,000 in Retirement Pay
According to the MOAA, the nation’s largest association of military officers, the proposal would have a significant impact on military retirees, including many who retire in their 40s after two decades of service.
Personal security and freedom
Obamacare Advertises on ESPN
Given the channel and given the nature of the ad, it seems pretty clear the ad was meant specifically to encourage young folks to sign up. The ad is presumably sponsored by you, the taxpayer, via the Health and Human Services Department.
Top Secret Drone Under Development
Drone is called the RQ-180 and will go into service in the Air Force in 2015. It is equipped with stealth technology, advance radar, radio-frequency sensors and cameras, says the trade magazine. It will likely also be used to carry out electronic warfare.
Retailers Hide Facial-Recognition Cameras in Mannequins’ Eyes to Track Shoppers
Alfonso Perez built a system called Shopperception that Wal-Mart has utilized. It uses motion-sensored cameras to track a shopper’s product choice on a shelf and the time it takes to make a decision. Perez’s business has doubled in the past year.
Australia High Court Overturns ACT Gay Marriage Law
In a statement, the Australian Christian Lobby, which opposes gay marriage, said: “Marriage between a man and a woman is good for society and beneficial for governments to uphold in legislation.”
Business and finance
Stuff Your Kids’ Stockings with Stocks
Consider teaching your kids or grandkids more about investing by giving shares of stock — or just a single share. Giving kids the right equities shows them investing can indeed be lucrative and teaches a lesson on the connection between saving and investing.
Tips for Taking the Right Vehicles to the Stock Market
One of the most common reasons investors fail is that they approach the capital markets without a plan that calls for the right investment vehicles for their needs. Or, if they have a plan, it may not adequately manage risk according to their individual tolerance for it.
It’s Hard to Summon Sympathy for Big Banks
It may not be easy to be sympathetic to the big banks, but it is easy to understand their surprise and frustration. They have gone from being viewed as national champions — proof of a country’s standing in the world — to being seen as a potential source of national disaster.
Samsung Galaxy Round to be First Flexible Phone?
The report, which puts the phone’s asking price at $900, also claims that its spec sheet will closely resemble the Galaxy Note 3 and that it will be made in very limited quantities.
Tobacco Industry Tactics Limit Poorer Nations’ Smoking Laws
The industry is warning countries that their tobacco laws violate an expanding web of trade and investment treaties, raising the prospect of costly, prolonged legal battles, health advocates and officials said.
Best wishes,
The Money and Markets Team
