Economy

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• CBO: Senate Immigration Bill Would Boost Economy
  A White House-backed immigration bill moving through the U.S. Senate would cut federal budget deficits over the long term and provide an overall boost to the economy, the Congressional Budget Office said.
• 'Miles Junkies' at Risk as Airlines Tie Flier Awards to Spending
  First-class upgrades, free booze and access to airport lounges may be harder for some passengers to earn if they don't begin buying more expensive airline tickets.
• Medicare: Cost-Saving Changes Coming for Diabetics
  Medicare begins a major change next month that could save older diabetics money and time when they buy crucial supplies to test their blood sugar.
• Report: Millionaires in North America Regain Top Rank
  North America reclaimed the top spot with the most millionaires last year as the world's ultra-rich led the way in raising global wealth to a record high, according to a report by Cap Gemini SA and Royal Bank of Canada.
• Fiscal Times: Accountants, Lawyers Can Expect Big Obamacare Profits
  Obamacare is giving a big boost to the tax and accounting industries and lawyers because of its blizzard of new laws and regulations.
• Inflation Data Point to Firming Economy
  U.S. consumer prices rose in May and a gauge of underlying price pressures showed signs of stabilizing after a long decline, a potential comfort to Federal Reserve policymakers who would like to see stronger inflation.
• Krugman: Technology Revolution Hurting Those With Higher Education
  Having a higher education won't help you anymore in your job, writes New York Times columnist Paul Krugman.
• Housing Starts Miss Expectations, but Overall Tone Upbeat
  U.S. housing starts rose less than expected in May, likely reflecting labor and material constraints, but the overall trend remained consistent with strength in the housing market.
• Consumer Prices Rise 0.1% as Cheaper Food Offsets Higher Energy
  U.S. consumer prices rose slightly in May as higher energy costs were partly offset by cheaper food. The small increase underscores that inflation is mild.
• Skousen: Financial Uncertainty Pushes Seniors Back Into Workforce
  While the overall labor participation rate has slid in recent years, senior citizens are increasingly returning to the labor force, thanks to losses in their investment portfolios and financial uncertainty, says economist and author Mark Skousen.
• UK Official at G-8: Leaders See Worst Over for World Economy
  Leaders of the Group of Eight nations say that the worst has passed for the global economy, an aide to U.K. Prime Minister David Cameron said Monday after summit talks on promoting employment and growth.
• Realtors Group: Calif. Home Prices Up Most in 33 Years
  California home prices rose by the most in three decades as a shortage of houses on the market spurred competition among buyers, the California Association of Realtors said Monday.The median price for an existing single-family home jumped to $417,350 in May, up 32 percent...
• New Apps Aim to Make Buying a Used Car More Transparent
  Americans looking to buy a used car can turn to two new smartphone apps that provide wholesale prices, which the app makers say can help them negotiate a better deal.
• EU, US to Start Talks on 'Potentially Ground-Breaking' Trade Pact
  Talks on a sweeping trade deal between the European Union and the United States are to get underway in Washington next month, President Barack Obama and top European Union officials said Monday.
• Most Homebuilders Optimistic About Sales for First Time in 7 Years
  For the first time in seven years, most U.S. homebuilders are optimistic about home sales, a sign that construction could help drive stronger economic growth in coming months.
• NY Area Factory Index Rises but Orders, Employment Are Gloomy
  Growth in the New York state manufacturing sector picked back up in June, but the details were less encouraging as new orders contracted further and measures of employment weakened, a report from the New York Federal Reserve showed on Monday.
• Author Mamorsky: US Has Morphed Into 'Crony Capitalism'
  Jordan Mamorsky cites a worldwide holistic lapse of ethics when discussing his book, "The End of Ethics and a Way Back: How to Fix a Fundamentally Broken Global Financial System," with consumers, ratings agencies and Wall Street's casino culture coming under fire.
• Authors Pearl, Rosenbaum: How Job Hunt Is Won in 'the Real World'
  Josh Pearl, an investment analyst whose resume includes UBS, recalled the job interview process and wanted to write the book that showed you how it's done in the real world.
• CNN Money: Young Americans Cut the Credit Card Habit
  Younger Americans are dropping credit cards in droves in favor of debit cards or prepaid cards, CNN Money reports.
• G-8 Leaders to Mull Syria, Tax Evasion, Free Trade
  Police are expected to outnumber protesters Monday at the G-8 summit in Northern Ireland, where leaders will seek to narrow their differences on Syria's civil war, promoting freer trade between Europe and North America, and combating global tax evasion.
• Facebook, Microsoft Get Thousands of Govt Requests for Data Each Year
  Facebook and Microsoft Corp. representatives said that after negotiations with national security officials their companies have been given permission to make new but still very limited revelations about government orders to turn over user data.
• G-8: Economic Risks Lower but Reforms Still Needed
  Leaders of the world's richest nations are likely to say next week that they are not content with progress so far in fixing their economies after the financial crisis.
• Consumer Sentiment Slips as Optimism on Jobs, Housing Fades
  U.S. consumer sentiment retreated this month after reaching its highest in nearly six years in May, a survey released on Friday showed, as household optimism about employment and housing faded slightly.
• CNNMoney: Beer Taxes Aren't Created Equally
  If you want to drink beer in America, you have to pay taxes. Some states only charge a few cents, but CNNMoney reveals that some states want quite a bit more. And the state's take is only part of the pricey equation.
• Factory Output Little Changed, Signaling More Weakness
  U.S. factories barely increased their output in May after two months of declines, a sign that manufacturing is providing little support for the economy.

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