Van Hollen, speaking at a discussion sponsored by the
National Journal, said he was “absolutely convinced” that the
12-member bipartisan “super committee” was working hard to
reach an agreement by its Nov. 23 deadline.The panel is trying to find at least $1.2 trillion in
savings over 10 years.Many in the U.S. Congress, as well as in the financial
community, have said it is crucial for the panel to succeed to
help put the nation on a more sound fiscal footing. But Van
Hollen said it was unclear if the committee would.”I really can’t handicap the odds” of success, he said in
response to a question.Van Hollen noted, as many Democrats have, that it is also
important to deal with the sluggish U.S. economy in the
short-term, in addition to addressing long-term deficit
problems.The super committee has been holding closed-door meetings
for weeks and the six Democrats and six Republicans have mostly
refrained from commenting publicly on their work.Sources have told Reuters that most of the Republicans on
the panel have signaled a willingness to consider some revenue
increases in exchange for Democrats going along with some
healthcare cuts.A reduction in corporate tax rates and closing some tax
loopholes also are being weighed, according to sources.Van Hollen said that the value of various tax breaks
currently in law could be lowered, thus raising some revenues.”It remains our goal to reach agreement,” Van Hollen said.
He added that it was still possible for the super committee to
exceed its minimum goal of $1.2 trillion in savings. But, he
added that he did not want to underestimate the challenges
facing the panel.
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The FDA urged people with allergies or a severe sensitivity to milk to stop taking the tablets “immediately” because they could suffer “a serious or life-threatening allergic reaction.”The FDA said the tablets, produced between March and June 2011, were sold nationwide under the product codes 2410 and 2412.Consumers without milk allergies or sensitivity can continue taking the tablets, the FDA said.Brewers yeast is a popular source of thiamine, a vitamin that plays a role in numerous body functions, according to the Mayo Clinic, including nervous system and muscle functioning.
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* Traders pessimistic about prospects in months ahead* Long National Day holiday spurred earlier bookingsBEIJING, Oct 13 (Reuters) - China imported 60.57 million
tonnes of iron ore in September, up 2.5 percent compared with
the previous month and the highest monthly figure since January,
official data from China’s customs authority showed on Thursday.But despite the increase, Chinese traders remain pessimistic
about their prospects in the coming months amid uncertainties
about the global economy and tightening domestic credit.They said a decline in purchases since the middle of
September was masked as buyers sought to guarantee supplies
ahead of the National Day holiday.”The high volume of imports is related to the early bookings
made before the holiday,” said a dealer based in the eastern
Chinese port of Qingdao.Total imports over the first three quarters of the year
reached 508 million tonnes, up 11 percent compared with the same
period of last year.China imported 1.33 million tonnes of steel products in
September, down 1.5 percent, while exports rose 0.5 percent to
4.21 million tonnes.
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ore
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“There is an intrinsic linkage between Italian insurer
ratings and the sovereign rating,” Fitch said.Italian insurers hold tens of billions of euros of Italian
sovereign bonds, seen at greater risk of default after Italy’s
stretched public finances prompted Fitch and rivals Moody’s and
S&P to lower its credit rating this month.Italy ranks as one of the world’s biggest sovereign debtors,
and a default would also inflict losses on European insurers
outside Italy, whose holdings of Italian debt dwarf their
investments in distressed Greek government bonds.Twenty-one leading European insurers had 151 billion euros
($206 billion) of Italian debt in June, against 8.5 billion
euros of Greek debt, according to Barclays Capital.Shares in Europe’s leading insurers have lost nearly a third
of their value in the past eight months amid fears they could be
forced to raise cash to offset impairments on their government
bond holdings as the eurozone debt crisis deepens.However, analysts say European insurers are unlikely to
follow the region’s banks in requiring fresh capital at this
stage, having built up and de-risked their reserves over the
last three years.Shares in Generali , Italy’s biggest insurer, were
2.2 percent higher at 12.7 euros by 1520 GMT, underperforming a
3 percent rise in the Stoxx 600 European insurance index
.($1 = 0.733 Euros)
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