The U.S. government stands poised for its first partial shutdown in 17 years at midnight tonight, after a weekend with no signs of negotiations or compromise from either the House or Senate to avert it.
A shutdown of the U.S. government would reduce fourth-quarter economic growth by as much as 1.4 percentage points depending on its length, economists say, as government workers from park rangers to telephone receptionists are furloughed.
In a year dominated by crises — both natural and political — squeezing our annual list of largest influencers down to 20 was difficult. One thing this year highlighted was that money and power trump all as we learned that — at least in the banking world — there are some that are too-big-to-prosecute.
TransCanada Corp.’s Keystone XL oil pipeline would be approved under a Republican plan being considered in the U.S. Senate, while a Democratic proposal would bar export of Canadian crude transported through the line.