Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Buffett Rule Fails to Clear Senate

Details

  • Description

    FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.

  • Duration 3:39
  • Date

Clips

Also in this playlist...

Fox Business Brief

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

This morning that's how the markets looked in Asia overnight close for the day and down across the board in Japan.

South Korea Hong Kong and mainland China but the other markets are looking much better than that Europe is up.

Whether it's in London Paris or in Frankfurt Germany with the Dax is up more than 1%.

And our futures indicating that will open higher this morning Dow futures up 49 so.

Lot of Green up they are in this agreement commodities as well the oil price well above a 103 dollars this morning one -- 351.

And gold higher by four -- 1654.

And -- Dimon said -- has more business news or you -- guy had.

I dig into senate Republicans blocked president Obama's plan to boost taxes on US million -- million.

Millionaires it's still early and I can't talk -- hit me.

Boost taxes on millionaires as expected the Buffett -- fell short of the sixty votes needed to clear the chamber.

The rule would require those making at least a million dollars a year to pay -- tax rate of 30%.

President Obama criticized Republicans for blocking the rules saying they chose to protects -- protect tax breaks.

For the wealthiest few Americans at the expense of the middle class Republicans argue that the rule is simply a distraction from the nation's real problems.

And what an address the real challenges facing the economy.

Meanwhile we have more troubles of the Chinese economy -- -- investments flowing into the country fell for the fifth straight month in March China says -- son you're the eleven point eight billion dollars from overseas investments down.

More than 6% from a year ago for the first three months of the year foreign direct investments totaled roughly 29 and a half billion dollars.

A nearly 3% drop from a year ago.

Investments from the European Union saw the biggest drop tumbling over 30% during the January to march period but investors from the US jumped.

More than 10% during that same time still commerce officials say.

They expect investment figures to remain grim for the rest of the year -- thank you so much Diane thing.

All right let's get to this GSA scandal now more fireworks expected today second house paddles going to be growing.

Some current and former members of the General Services Administration.

-- issues -- wasteful spending hundreds of thousands of taxpayer dollars and all kinds of things.

Fox Business -- rich -- with the story now from Washington.

One down 3 to go this morning another house panel questions former and current General Services Administration officials about a 2010 conference.

That a government report says cost more than 800000.

Dollars including spending -- -- building.

And magicians.

31000 on -- networking reception 8000 on a yearbook for attendees 6300.

On commemorative coins.

And 5600 dollars for dealing room parties the report says they spent a 136000.

Dollars on trips to Vegas just to set up the conference.

Investigators and lawmakers largely hold GSA regional commissioner Jeff nearly responsible for organizing the conference.

Lawmakers say he's now on administrative leave meaning he's likely still receiving a government paycheck.

And on top of that he refused to answer questions -- yesterday's hearing still lawmakers had plenty to say to.

Mr.

nearly and his -- Believe they would -- -- some sort of agency -- We use taxpayer funds.

The bank rolled out lavish lifestyle.

They disregarded -- the most basic.

Tenets of government service.

It's not your money.

Is to taxpayers money.

Nearly as scheduled for this morning's hearings as well and will likely again refused to answer questions aides say the matter has also been referred.

To the Department of Justice for a criminal investigation.

-- -- -- -- --

Load More