Just Explain It: What is the Strategic Petroleum Reserve?

Eliminating America's dependency on foreign oil has been a policy goal for at least the last two U.S. Presidents.  According to the International Energy Agency, by 2020,  the U.S. will overtake Saudi Arabia as the world's number one oil producer.However, there's still some work to do.  The United States Energy Information Administration reported that 45% of the petroleum consumed by...

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Apple to produce line of Macs in the US next year

NEW YORK (AP) -- Apple CEO Tim Cook says the company will move production of one of its existing lines of Mac computers from China to the United States next year.Industry watchers said the announcement is both a cunning public-relations move and a harbinger of more manufacturing jobs moving back to the U.S. as wages rise in China.Cook made the comments in part of an interview taped for NBC's "Rock...

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US economy adds 146K jobs, rate falls to 7.7 pct.

WASHINGTON (AP) -- The pace of U.S. hiring remained steady in November despite disruptions from Superstorm Sandy and employers' concerns about impending tax increases from the year-end "fiscal cliff."Companies added 146,000 jobs, and the unemployment rate fell to 7.7 percent — the lowest in nearly four years — from 7.9 percent in October. The rate declined mainly because more people stopped looking...

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Maine lobster catch up, value down; glut cited

PORTLAND, Maine (AP) — The state's lobster catch surged 18 percent last year for another record, but a marketplace glut depressed the value of its signature seafood, causing financial hardship for lobstermen, processing plants and dealers up and down the East Coast, officials said Friday.The lobster catch topped 100 million pounds for the first time in 2011, and the numbers grew again in 2012 with...

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Rebuilt Dodge Transmissions for Intrepid Cars Now Sold Online at GotTransmissions.com

Rebuilt Dodge transmissions for Intrepid cars are now sold online at the GotTransmissions.com website. This company has added these Chrysler based gearboxes to the growing online inventory to help car owners and B2B companies that purchase reconditioned units for direct replacement.Beaumont, Texas (PRWEB) January 05, 2013The GotTransmissions.com company has added a line of rebuilt transmissions for...

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Voice Activated PDA for Blind and Low Vision Users from LS&S Now Offered by Rehabmart

One of their popular devices for blindness and low vision is the TapMemo Voice Activated PDA, a cutting-edge, handheld, voice activated personal assistant. Battery powered, the TapMemo features only one multi-functional button and two volume buttons, making it easier for most users to operate.Elberton, GA (PRWEB) January 05, 2013Rehabmart.com, an online e-commerce company that sells rehabilitation...

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Oregon governor says Nike plans to hire thousands

 Sporting goods giant Nike plans to expand its operations in Oregon and hire as many as 12,000 new workers by 2020 but wants the government to promise it won't change the state tax code, prompting a special session of the Legislature.Gov. John Kitzhaber said he'll call lawmakers together Friday in Salem to create a new law authorizing him to grant Nike's wish.The governor did not release information...

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Oregon governor says Nike plans expansion

SALEM, Ore. (AP) — Nike wants to expand its Oregon operations and hire hundreds of workers but is asking the government to promise it won't change the state tax code.Gov. John Kitzhaber (KIHTS'-hah-bur) says he'll call the Legislature into session Friday to create a law to give Nike its wish.The company has not specified its expansion plans except to say it would create at least 500 jobs and $150...

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Report: Most Pakistani lawmakers do not file taxes

The majority of Pakistani lawmakers do not file tax returns despite a legal requirement to do, a report said Wednesday, reinforcing concerns about the low level of tax revenue in the country.Pakistan has one of the lowest tax-to-GDP rates in the world because payment is not well enforced, and major areas of the economy, such as the agriculture sector, are either taxed at very low rates or not at all.Around...

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Pennies over patriotism: Look at tax-averse stars

PARIS (AP) — France's Socialist government is introducing a 75-percent income tax on those earning over €1 million ($1.3 million), forcing some of the country's rich and famous to set up residency in less fiscally-demanding countries.Here's a look at some big stars in France and elsewhere who have, over the years, put their pennies above their patriotism.DEPARTING DEPARDIEUThe French prime minister...

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Pennies over patriotism? Stars move to tax havens

PARIS (AP) — France's Socialist government is introducing a 75-percent income tax on those earning over €1 million ($1.3 million), leading some of the country's rich and famous to set up residency in less fiscally demanding countries.Here's a look at some big names in France and elsewhere whose changes of address over the years have meant lighter taxes.DEPARTING DEPARDIEUThe French prime minister...

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Italy's lower house approves Monti's budget plans

 Italy's lower house of parliament on Thursday approved a package of budget measures including a sales tax hike and a cut in some payroll taxes, aimed at helping the government reach its deficit-cutting targets.Approval was expected after Prime Minister Mario Monti's government won three confidence votes on Wednesday that it had called to speed up passage of the budget.The measures will now move...

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Kan. agency posting tax guidance ahead of new law

The Kansas Department of Revenue is posting guidance regarding two provisions of the state income tax law ahead of changes that take effect in January.Spokeswoman Jeannine Koranda said Tuesday that the guidance lets accountants, tax attorneys and residents know how the agency will be interpreting inconsistencies within the law. One of the items deals with how the taxpayers will be able to use itemized...

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Harbinger Group returns to profit in 4th quarter

 Harbinger Group it returned to a profit in its fiscal fourth quarter, buoyed by a large income tax benefit and improved revenue for both its consumer products business and its financial services and insurance segment.For the three months ended Sept. 30, the New York-based holding company earned $159.1 million, or 78 cents per share. That compares with a loss of $107.1 million, or 77 cents per...

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NH health agency seeks $321M more in next budget

 New Hampshire's biggest agency asked Tuesday for $321 million more from state tax sources in the two-year state budget Gov.-elect Maggie Hassan must present to lawmakers in February.Health and Human Services Commissioner Nicholas Toumpas testified at a hearing on the request that one of the biggest increases is due to a change in how the state pays nursing homes for Medicaid care. He said the...

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First cracks in GOP resolve on tax rates

 The first cracks are developing among Republicans over whether to accept a quick deal with President Barack Obama on allowing the top two income tax rates to expire, even as an administration official said the White House was stepping up behind-the-scenes negotiations.Conservative Oklahoma GOP Rep. Tom Cole told GOP colleagues in a private meeting Tuesday that it's better to make sure that tax...

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Canada economy ekes out 0.1 percent growth in October

OTTAWA (Reuters) - The Canadian economy grew by just 0.1 percent in October from September, indicating a very slow start to the fourth quarter amid foreign and domestic economic woes, Statistics Canada data indicated on Friday.The figure matched analysts' expectations. The Bank of Canada says fourth quarter growth will be 2.5 percent annualized but the October data confirm market suspicions the real...

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Ugandan shilling steady, seen weaker after Christmas holiday

KAMPALA (Reuters) - The Ugandan shilling was unchanged against the dollar on Friday but traders said they expected it to weaken once more active trading resumed next year.At 1238 GMT commercial banks in Kampala quoted the currency of east Africa's third-largest economy at 2,645/2,655, unchanged from Thursday's close."The market is pretty flat because (dollar) demand is not there but going into 2013...

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Instant View: November personal income, durable goods up

NEW YORK (Reuters) - Consumer spending rose in November by the most in three years as incomes climbed, suggesting fourth-quarter economic growth might be stronger than currently expected.The Commerce Department said on Friday inflation-adjusted consumer spending rose 0.6 percent, and after-tax income climbed 0.8 percent when adjusting for inflation.A gauge of planned U.S. business spending rose much...

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US durable goods orders up 0.7 percent

WASHINGTON (AP) — U.S. companies boosted their orders in November for long-lasting manufactured goods that reflect investment plans. It was the second straight such increase, an encouraging sign for the economy.The Commerce Department said Friday that overall orders for durable goods rose a seasonally adjusted 0.7 percent in November over October.But a more closely watched category of orders that...

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