economy

Lee Kuan Yew, the founding father of modern Singapore and one of Asia's most influential politicians, has died at age 91, according to the Singapore Prime Minister's office.

During more than a half-century as Singapore's leader, he helped turn the city-state from a sleepy British colony into an affluent and efficient trading enclave, which enjoys the world's third-highest per capita GDP.

But he was also criticized for running a one-party, authoritarian regime under which critics were muzzled and political rivals hounded.

"Hitchhacking" via Flickr

Economists don’t seem to agree on whether the plummeting price of oil could cause a recession in Texas next year.

The price per barrel has dropped to $55, about half of where it was during the first part of 2014.

Michael Feroli, the chief U.S. economist at J.P. Morgan Chase, recently told clients that Texas is “at risk of slipping into a regional recession” because of the decline in oil prices. 

However, Economist Michael Plante with the Federal Reserve Bank of Dallas, doesn’t think a recession is on the horizon.

McClatchy Newspapers

Construction firms in Texas are dodging taxes, shifting them to employees and shorting the government out of $1.2 billion, according to a new investigative report called Contract to Cheat conducted by the Ft. Worth Star-Telegram and McClatchey newspapers.

More than 37% of Texas' 800,000 construction workers are being misclassified as independent contractors instead of employees, says an investigative report.

A state legislator that has joined Texas Gov. Rick Perry during his Asian Economic Development Trip said investors from China and Japan are poised to provide the private funds needed to grow the state’s economy and fulfill some of its infrastructure needs.

State Rep. Jason Villalba, R-Dallas, said Perry asked him to join him in Beijing to meet with hundreds of Chinese investors that are interested in growing the Texas economy by either providing capital for existing projects or bringing business to the state.

David Martin Davies / TPR News

At a recent Monday night in Nordheim, a town of 300 about 75 miles southeast of San Antonio, neighbors are gathering at the old dance hall; the Nordheim Shooting Club.

But this isn’t for a night of boot scootin’, they are here to organize against what they see as an environmental threat to their town and their way of life.

Two massive fracking waste disposal pits, one 200 acre site and the other 575 acres, are being proposed for right outside of town.

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