Budget passed by House eases the cuts both parties dislike
Bloomberg: The House of Representatives passed the first bipartisan U.S. budget in four years yesterday, clearing the way for final Senate passage next week to ease $63 billion in spending cuts and avert another government shutdown. However, the 332-94 vote in the House, where almost equal numbers of Republicans and Democrats voted for the plan, masked deep reluctance about the $1.01 trillion budget accord.
Wholesale prices in U.S. fell for third month in November
Bloomberg: Wholesale prices in the U.S. declined for a third month in November, reflecting lower costs for energy and cars. The 0.1 percent drop in the producer price index followed a 0.2 percent decrease the prior month, according to a Labor Department report released today in Washington. The median estimate in a Bloomberg survey of 77 economists called for no change. The so-called core measure, which excludes food and energy, rose 0.1 percent.
Incandescent light bulb ban set to take effect
CNNMoney: Light bulb manufacturers will cease making traditional 40- and 60-watt light bulbs -- the most popular in the country -- at the start of 2014. This comes after the controversial phasing out of incandescent 75- and 100-watt light bulbs at the beginning of 2013.