United States (KaiserHealth) – The Obama administration today unveiled final regulations that detail what information health insurers must provide on new consumer labels mandated by the federal health law to explain their plans. “All consumers, for the first time, will really be able to clearly comprehend the sometimes confusing language insurance plans often use in marketing,” said Health and Human Services Secretary Kathleen Sebelius in a printed statement. “This will give them a new edge in deciding which plan will best suit their needs and those of their families or employees.” The standardized forms will be available beginning Sept. 23 for about 150 million Americans with private health insurance, federal health officials. The rules set the [...] Continue Reading…

Linda Young – AHN News Writer
Roseland, NJ, United States (AHN) – Hiring slowed in January, with private sector companies adding only 170,000 jobs to the economy, according to a report by payroll processor ADP. Many of those jobs were in the services sector, with 95,000 of those new jobs, slightly more than half, created by small businesses employing fewer than 50 people. Large companies that employ 500 or more people only created 3,000 new jobs, while medium-sized businesses hired 72,000 new workers. Moreover, hiring in December was weaker than previously reported. The actual number of jobs created in December was 292,000, down from the first estimate of 325,000 jobs. However, ADP is optimistic about job [...] Continue Reading…

Tom Ramstack – AHN News Legal Correspondent
DC, Washington, United States (AHN) – The U.S. Conference of Mayors wrapped up its winter meeting Friday in Washington, D.C., with Chicago Mayor Rahm Emanuel stepping into controversies on same sex marriage and education. Emanuel joined about 80 other mayors from across the nation in endorsing laws to give legal recognition to same sex marriage, along with the tax breaks and other benefits spouses can share. The mayors signed on to a statement that said, “Our cities derive great strength from their diversity and gay and lesbian families are a crucial part. Studies have shown what we know through our hands-on experience that cities that celebrate and cultivate diversity are the [...] Continue Reading…

Linda Young – AHN News Writer
London, United Kingdom (AHN) – The European Central Bank met Thursday and kept its key interest rate unchanged at 1.0 percent. ECB officials made the decision after cutting rates for the previous two months in an effort to boost growth in the eurozone. They mentioned continued high uncertainty in the eurozone. Although many analysts predict the ECB will cut rates later in the year, it has not dropped below 1 percent since the ECB began setting rates 13 years ago. The Bank of England also announced on Thursday that it was keeping its key interest rates unchanged at 0.5 percent. It has kept the rate at that level since March 2009.
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Saleem Samad – AHN News Correspondent
Dhaka, Bangladesh (AHN) – Bangladesh has been removed from a list of “high risk” piracy prone areas compiled by the International Maritime Bureau (IMB), an anti-crime warning unit of International Chamber of Commerce. Bangladeshi authorities lobbied the IMB to remove itself, since the designation increased the cost of insurance to cargo ships destined for Chittagong in the Bay of Bengal. Foreign Affairs Secretary Khurshed Alam confirmed to news on Sunday. Bangladesh wrote a protest letter on December 20. In the protest letter, Bangladesh stated that incidents reported to the IMB were mostly “petty thefts” or “robbery” and under no circumstances constituted genuine “piracy” since they took place well within 200 nautical miles [...] Continue Reading…

Diane Alter – AHN News Reporter
New York, NY, United States (AHN) – It’s the economy that keeps Americans up at night, on edge and worried, revealed a new CNN/ORC International poll released Friday. Some 70 percent said that things are not going well in the United States, with just three out of 10 saying things are okay, putting the state of the economy as the top worry and the most pressing issue heading into the new year. More than half of those surveyed, or 57 percent, said the economy is the most important issue facing the country at present, and half named unemployment as the most important issue facing the economy. The deficit came in a very [...] Continue Reading…

Linda Young – AHN News Writer
Geneva, Switzerland (AHN) – The worsening eurozone crisis caused Swiss government officials Tuesday to lower the nation’s expected economic growth forecast for 2012. They now predict that the gross domestic product will only grow by 0.5 percent instead of the 0.9 percent previously forecast. However, the government remains optimistic that Switzerland will not experience a recession as long as the eurozone crisis does not become worse. They forecast economic expansion of 1.8 percent for 2011, which is still down from the 2.7 percent recorded in 2010 Nevertheless, there is ongoing concern over recession and deflation. The Swiss National Bank has acted to weaken the Swiss franc since summer, citing those [...] Continue Reading…

Diane Alter – AHN News Reporter
Berlin, Germany (AHN) – German Chancellor Angela Merkel has pushed for stronger rules against overspending as the long-term answer to Europe’s debt crisis and says the fixes for the eurozone’s flaws must be written into changes in the basic EU treaty. The German leader laid out her stance while speaking to lawmakers in Parliament Friday ahead of a crucial European summit next week. Merkel stressed the need for tougher rules against running up debt, and said the process could take years to have an effect. The long term changes Merkel insists upon, with the support of French President Nicolas Sarkozy, are viewed as just one half of new efforts by European leaders [...] Continue Reading…

Diane Alter – AHN News Reporter
Washington, DC, United States (AHN) – The Federal Deposit Insurance Corp. released its third quarter report on Tuesday that showed some fruitful signs of life for the troubled banking industry. According to the report, U.S. bank profits rose collectively over the summer to their highest level since mid-2007, but banks still continued to struggle to generate more revenue in a stagnant and cautious economy. In the quarter ending Sept. 30, the industry showed a group net profit of $35 billion, an increase of nearly 50 percent from a year earlier. Another bright spot in the report was that the agency’s list of troubled institutions shrank in the third quarter for the [...] Continue Reading…

Vittorio Hernandez – AHN News
Rome, Italy (AHN) – Former European Union (EU) Commissioner Mario Monti is the new prime minister of Italy, replacing outgoing Prime Minister Silvio Berlusconi, Italian President Giorgio Napolitano announced on Sunday. Monti, who was asked to form a new government, accepted the mandate. His first task is to form a new cabinet although he did not provide a timetable nor hinted whom would he appoint as ministers. Monti said he will start consultations on Monday with the new cabinet members. The 68-year-old Monti, an economist, said he wants to build a future of dignity and hope for Italy’s children. Napolitano held 17 meetings with senior Italian politicians before he nominated Monti to [...] Continue Reading…