It's been a banner year for solar energy. The United States is on track to install a record number of solar power systems — thanks in large part to low-cost solar panels from China. That's been challenging for American manufacturers, and federal officials have put trade tariffs on Chinese panels.
Things look busy at the SunPower solar manufacturing plant in Silicon Valley. Workers are screwing frames onto shiny, 6-foot solar panels as they come off the line.
Originally published on Wed January 2, 2013 11:16 am
The White House released this statement from President Obama at 2:30 a.m. on Tuesday:
Leaders from both parties in the Senate came together to reach an agreement that passed with overwhelming bipartisan support today that protects 98 percent of Americans and 97 percent of small business owners from a middle class tax hike. While neither Democrats nor Republicans got everything they wanted, this agreement is the right thing to do for our country and the House should pass it without delay.
Originally published on Tue January 1, 2013 8:28 am
Legislation to negate a fiscal cliff of across-the-board tax increases and sweeping spending cuts to the Pentagon and other government agencies is headed to the GOP-dominated House after bipartisan, middle-of-the-night approval in the Senate capped a New Year's Eve drama unlike any other in the annals of Congress.
The measure cleared the Senate on an 89-8 vote early Tuesday, hours after Vice President Joe Biden and Senate Republican Leader Mitch McConnell of Kentucky sealed a deal.
Amid all the talk of going over the fiscal cliff, we have a report now on another midnight deadline tonight. Few were paying attention when Congress failed to pass the Farm Bill last fall. But now lawmakers are scrambling to extend the law for a year, to dodge a spike in milk prices. While an agreement is in the works, another vote is necessary, and none is scheduled yet. Peggy Lowe of member station KCUR in Kansas City explains how farmers, processors and consumers ended up at what is being called the dairy cliff.
The countdown is on to a new year — and the fiscal changes that are on the other side of midnight. But what else is on the cards economically for 2013, both here and overseas? Guest host Celeste Headlee puts the question to the Wall Street Journal's Sudeep Reddy.
We are in a great season to buy a car. Automakers and dealers are offering lots of incentives. And those incentives are just one of the factors in what may end up as the best year for the auto industry since 2007, before the height of the financial crisis. So why has it been a good year? Well, when millions of people hold off on their car purchases for years, that pent up demand, along with cheap credit, will eventually drive stronger sales.
The U.S. economy grew at a steady though not very strong pace this year. But Europe slipped back into recession because of the ongoing debt crisis. European leaders took steps to stimulate growth, but it wasn't enough to reverse course.
The economic crisis that got under way five years ago was felt all over the world. But Mohammed El-Erian, CEO of the investment firm PIMCO, says different regions have healed at much different rates.
The year "2012 was another multispeed world globally, in the sense that different parts did different things," he says.
It is almost unimaginable that both the House and Senate would be in session on a Sunday evening on the penultimate day of the year. And yet, they both were, with lawmakers hoping it was not merely a big waste of time and effort.
A bipartisan push by Senate leaders over the weekend has so far failed to forge a deal to spare American wage earners from tax hikes and shield government programs from drastic cutbacks.