Thursday, October 8, 2015 - 13:39 US Rep McCarthy Drops Speaker Bid, House GOP Chaos Deepens 0
--House Republicans 'Stunned' By McCarthy Decision
--Speaker Boehner Expected to Set New Election
WASHINGTON (MNI) - House Majority Leader Kevin McCarthy stunned his Republican colleagues Thursday when he announced he was dropping his bid to succeed John Boehner as the Republican leader and the Speaker of the House.
McCarthy made his announcement shortly after noon to a bewildered gathering of House Republicans who had assembled in a closed door meeting to elect Boehner's successor.
Thursday, October 8, 2015 - 10:13 US House GOP Set To Elect McCarthy Thursday As Next Speaker 0
--House Republicans To Meet At Noon For Party Elections
--Full House to Vote for Speaker On October 29
WASHINGTON (MNI) - U.S. House Republicans will convene at noon Thursday in Room 1100 of the Longworth Office Building to select the successor to Speaker John Boehner.
House Majority Leader Kevin McCarthy, the second ranking House Republican, is heavily favored to succeed Boehner but he faces two rivals for the Speaker's gavel: House Oversight Committee Chair Jason Chaffetz of Utah and Rep. Daniel Webster of Florida.
Each of the three candidates will be formally nominated and then the voting will occur.
Thursday, October 8, 2015 - 02:30 Bank of France Cuts Third-Quarter GDP Fcast to +0.2% Vs +0.3% 0
--Industry Output Up 'Very Slightly' in September, Central Bank Says
PARIS (MNI) - The Bank of France cut its forecast for third-quarter growth in the French economy to 0.2% from 0.3% on Thursday and said industrial output rose only "very slightly" in September.
In its monthly business survey, the central bank said its sentiment indicator for manufacturing eased to 97 in September from 98 in August, while its indicator for services rose to 97 from 96.
The BOF said business managers for industrial firms surveyed in September said order books and deliveries were flat compared with August while prices continued to decline. Managers surveyed...
Wednesday, October 7, 2015 - 20:04 US CBO Expects FY 2015 Budget Deficit To Be $435 Billion 0
--Treasury To Release Official Deficit Number Later in Oct
--CBO Estimate Comes From Final Monthly Report of FY 2015
WASHINGTON (MNI) - The Congressional Budget Office said Wednesday the federal government ran a budget deficit of $435 billion in fiscal year 2015 which is $48 billion below the FY 2014 deficit of $483 billion.
The CBO provided the estimate in its September monthly report.
The CBO said the FY 2015 deficit of $435 billion is the nation's smallest budget deficit since 2007 and represents 2.4% of gross domestic product.
The Treasury Department will release the official FY 2015 deficit later...
Wednesday, October 7, 2015 - 15:00 US August Consumer Credit Use Up $16.0 Bln; Revolving +$4.0b 0
By Tim Weatherhead and Kevin Kastner
WASHINGTON (MNI) - Consumer credit use rose $16.0 billion in August, lifted by a $12.0 billion rise in nonrevolving credit and a $4.0 billion rise in revolving credit, data released by the Federal Reserve Wednesday afternoon showed.
Analysts in an MNI survey had expected total consumer credit to rise by $21.0 billion in August following a $19.1 billion increase in July. The July increase was revised down to $18.9 billion with Wednesday's data.
The pace of total credit growth, at a 5.6% seasonally adjusted annual rate in August, was slower than the 6.6% revised rate posted in July. Revolving credit rose 5.3% SAAR in August, while nonrevolving credit rose 5.7%, both slower than...
Wednesday, October 7, 2015 - 14:11 US Rep Hoyer Calls For 30-Day Dash For Hill-Admin Spend Deal 0
--House Minority Whip: Must Try To Get Deal In October
--Hoyer: 'We May Have 30 Days' To Get Agreement
--House GOP To Vote At Noon Thursday On Boehner Successor
WASHINGTON (MNI) - Speaking at an outdoor gathering of union workers and Democratic activists, U.S. House Minority Whip Steny Hoyer Wednesday urged Democrats to launch a month-long blitz to nail down a spending agreement that boosts defense and non-defense programs by an equal amount.
"We may have 30 days," to get an agreement, Hoyer said, an apparent reference to House Speaker John Boehner's decision to resign on October 30....