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    Seven reasons to expect a slow-growth U.S. economy ahead

    By Joseph Lazzaro | Filed Under:

    seven-reasons-to-expect-a-slow-growth-u-s-economy-aheadIs the U.S. headed for a "new normal" -- a slow-growth economy that lasts perhaps for as long as a decade? The evidence supporting the new-normal argument, predicting a future in which the U.S. GDP grows at no more than 2.0% to 2.5% per year, is compelling. That low growth rate would constrain corporate revenue, earnings growth and stock prices, among other consequences.

    The U.S. has already registered below-trend GDP growth at this recovery's start -- just 3.5% in the third quarter, versus the more than 6% GDP growth typically registered in an expansion's initial stage. Here's why the slow-growth conditions might continue:

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    Galleon's Raj Rajaratnam gears up for a legal showdown

    By Vishesh Kumar | Filed Under: ,

    With a mountain of evidence ranging from a cooperating witness to wiretapped confessions by an accomplice all but admitting guilt, prosecutors in the Galleon Group insider trading case might think they have an airtight case. But billionaire Galleon founder Raj Rajaratnam seems to be bracing for a fight.

    Last week Rajaratnam's lawyers took to the offensive and succeeded in having cooperating witness Roomy Khan's criminal background included in the hearings. Khan, a former employee of both Intel and Galleon, is a central witness against Rajaratnam. Khan has already pleaded guilty to trading on and passing on insider information as part of a plea agreement.

    India's Prime Minister is bullish on the greenback and the U.S. economy

    By Vishesh Kumar | Filed Under: , ,

    Indian Prime Minister Manmohan Singh threw his support behind the U.S. dollar as the world's reserve currency and took an upbeat view of the U.S. economy in an interview on CNN's Sunday talk show GPS.

    The statements come as Singh prepares for a state dinner hosted by President Obama in Washington, D.C., on Tuesday -- and in the wake of India's $6.7 billion gold purchase from the International Monetary Fund earlier in the month. The 200-metric-ton purchase made India the ninth-largest holder of gold reserves in the world and set off speculation that other governments may also seek to diversify from dollar-based assets.

    Now entering Tiburon. Please get your license plates ready for their close-up

    By Eric Wahlgren | Filed Under:

    If you're a thief with a car, you may want to steer clear of Tiburon, Calif. As tantalizing a target as Tiburon may be -- its median home price is $2.62 million, and Forbes ranks it as the 26th-wealthiest zip code -- the Bay Area enclave may become the first U.S. city to install cameras to photograph the license plates of every car that enters and leaves town.

    "I think it makes the community safe," Michael Cronin, Tiburon's police chief, said Wednesday, after the Town Council voted 4-0 to go ahead with the surveillance program, slated to go live within six months, according to the San Francisco Chronicle. But the exclusive waterfront hamlet 17 miles north of San Francisco could set a dangerous precedent, privacy experts warn.

    eBay search function fails for hours

    By Douglas McIntyre | Filed Under: ,

    ebay-search-function-fails-for-hoursFirsthand reports from 24/7 Wall St. and social media information website Mashable say the the search function of eBay (EBAY) was down for several hours on Saturday. The search feature is critical to aiding shoppers in finding products, and navigating eBay without it is extremely difficult.

    The eBay problem is another example of how server issues, software problems or attacks on a company's website by hackers can compromise or shut down a service. It is not clear what happened at eBay during the hours that its search feature was disabled, but as the holidays approach, what is clear is that an interruption of the service could cost the company -- and the firms that use its auction system to sell their products -- tens of millions of dollars.

    Traveling abroad for better returns

    By Sheryl Nance-Nash | Filed Under:

    While there's no place like home, sometimes you have to get out of your own backyard -- and that includes investing. Impressive growth in emerging economies such as China and India will boost investments that provide exposure to these markets, says the new Emerging Wealth report from consultancy Watson Wyatt. "We believe that emerging market economies will continue to grow strongly, due to a mix of rising productivity, economic and financial reforms and favorable demographics," says Craig Mercer, Watson Wyatt's senior investment consultant, in a prepared statement.

    But investors who want to globalize their portfolios should also remember that with the aggressive returns some of these markets can offer come risks, including currency fluctuations and political instability. That said, investors can get in on the international action through index funds or other broad investments that can reduce the chance of any major downside.

    Child-care issues are an impossible challenge for Army moms and dads

    By Sarah Gilbert | Filed Under: ,

    On Nov. 6, Specialist Alexis Hutchinson was arrested. Hutchinson, 21, had arrived back on her military base in Savannah, Ga., just a week earlier with her 10-month-old son, Kamani, in tow. This was not a happy trip. She'd been home in Oakland, Calif., on leave, where her mother, Angelique Hughes, broke the bad news: It wasn't working out.

    Kamani's dad isn't involved in the child's life, and Hughes had agreed to keep the baby for a year while Hutchinson joined her unit, headed toward Afghanistan. But Hughes is already caring for an ailing mother and sister, a special-needs daughter, and up to 14 children during the day in an in-home day care. Kamani was one responsibility too many.

    In movie theaters everywhere: 'Attack of the Artery-Clogging Popcorn'

    By Sarah Gilbert | Filed Under: ,

    The biggest horror show in movie theaters right now isn't on screens but in the tubs of popcorn resting in audience members' laps, if you ask one consumer advocate. Snacking on a medium popcorn and soda at one of Regal Entertainment Group's (RGC) cinemas is the nutritional equivalent of eating three McDonald's (MCD) Quarter Pounders slathered with 12 pats of butter, says the Center for Science in the Public Interest.

    The twist in the plot? Both Regal and AMC -- the nation's No. 1 and No. 2 theater chains -- understate the calories in their popcorn servings by big amounts, according to laboratory analyses commissioned by the nonprofit.

    CEO's Corner: Prudential's Christine Marcks says no need to retire the 401(k)

    By Latif Lewis | Filed Under:

    Christine MarcksIf you've checked the balance on your 401(k) lately, you're likely breathing a mini sign of relief as the Dow's bounce back above 10,000 helps replenish some losses suffered during the recession.

    But as stocks remain volatile and the recession hampers retirement planning for millions, we sought advice from Christine Marcks, CEO of Prudential Retirement, the retirement arm of financial services giant Prudential Financial.

    In our conversation, Marcks outlines a game plan for laid off workers and describes new tools available for today's pre-retirees. Despite what some published reports say, the 401(k) is still very relevant, Marcks adds.
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