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Business & Economics :: Economics

How the GOP health care bills help the rich

cnn.com

How the GOP health care bills help the rich

- If Republican efforts to repeal and replace Obamacare are successful, one of the biggest winners would be the wealthy. The Senate's bill -- released this week -- differs in key ways from the House-passed version. But proposals eliminate the taxes imposed on high-income Americans to help pay for an expansion of health benefits under the Affordable Care Act. The legislation also would let people contribute more to certain tax-advantaged accounts

Categories: Business |  Health | 
Tags: Taxes |  Economy |  Money |  Wealth |  Medical Care |  Economics |  Taxation | 
Places: Americas |  North America |  United States | 

Bank of America sees no end to low-inflation, low-rate climate

reuters.com

Bank of America sees no end to low-inflation, low-rate climate

- NEW YORK Persistent output slack and sluggish economic activity will likely keep inflation and interest rates low around the world in the foreseeable future, Bank of America Merrill Lynch economists said on Friday. "While we think the recent weak inflation readings in the U.S. will only delay the move higher in underlying inflation, for the rest of the world we now see core inflation inching lower rather than higher," the firm's economists Ethan Harris and Aditya Bhave wrote in a research note

Categories: Business | 
Places: Americas |  North America |  United States | 

Corruption, economic crisis overshadow Mongolian election

abcnews.com

Corruption, economic crisis overshadow Mongolian election

- It's unclear whether Ganbaatar will be eligible to run after a video surfaced of him accepting a campaign donation from a South Korean citizen. Sandwiched between Russia and China, resource-rich has been roiled by financial upheaval and the increasing draw of China's economic and political influence that competes with its ties with the democratic West, especially the United States. However, he too has been tarnished following an investigation last year by the Independent Authority Against Corruption into an alleged misappropriation of funds for a new railway during his time as minister of transport

Categories: Politics & Government |  Business | 
Places: Americas |  North America |  United States |  North |  Inner Mongolia | 

Major US banks would withstand recession: US Fed

channelnewsasia.com

Major US banks would withstand recession: US Fed

- WASHINGTON: The largest US banks would withstand a severe recession and still be able to lend to American households and businesses, the Federal Reserve announced on Thursday (Jun 22). The results of the central bank's so-called stress tests showed 34 major lenders were on solid capital footing, it said. "This year's results show that, even during a severe recession, our large banks would remain well capitalised," Fed Governor Jerome Powell said in a statement

Categories: Business | 
Places: United States |  Singapore | 

Senate GOP health plan may not protect millions on Medicaid expansion

cnn.com

Senate GOP health plan may not protect millions on Medicaid expansion

- Ever since Republicans set about to dismantle Obamacare, moderate lawmakers and governors have fought to protect Medicaid expansion. They say the program has provided coverage to millions of low-income adults and played a key role in battling the opioid epidemic ravaging their states. Moderate GOP senators are hoping to extend the life of Medicaid expansion beyond the hard cutoff contained in the House bill, which would end enhanced funding for new adult participants in 2020

Categories: Business |  Health | 
Tags: Economy |  Medical Care |  Economics | 
Places: Americas |  North America |  United States | 

As inflation misses goal, Fed's Evans calls for gradual rate hikes

channelnewsasia.com

As inflation misses goal, Fed's Evans calls for gradual rate hikes

- NEW YORK: With inflation stubbornly soft despite a 16-year low in the U.S. unemployment rate, the Federal Reserve should move only slowly to raise interest rates and trim its massive bond portfolio, Chicago Fed President Charles Evans said Monday. "I don’t want to get hung up over small differences" between whether the Fed raises rates two, three or four times over the course of 2017, Evans said in remarks prepared for delivery to Money Marketeers of New York University

Categories: Business | 
Tags: Economy |  Inflation |  Economics | 
Places: United States |  Singapore |  Northeast |  Atlantic |  New York | 

Amazon CEO Jeff Bezos may be single-handedly killing inflation

cnbc.com

Amazon CEO Jeff Bezos may be single-handedly killing inflation

- Amazon CEO Jeff Bezos has changed the way the retail world operates. He may be about to exert a similar level of pressure on the economy and expectations for future price trends at the supermarket. At a time when central banks are starting to gird against an expected rise in inflation ahead, Bezos' move to acquire Whole Foods looks to be a significant counterweight

Categories: Business | 
Places: United States | 

April tax revenues boost New Mexico state finances

koat.com

April tax revenues boost New Mexico state finances

- SANTA FE, N.M. (AP) – New Mexico state government is reporting a surge in tax revenues that may help ease lingering budget difficulties. The Legislative Finance Committee on Monday said that revenues in April increased by 7.7 percent to $587 million over same month in 2016. The increase in tax revenues has been led by retail and business transactions, along with resurgent oil production

Categories: Business | 
Tags: Taxes |  Economy |  Economic Policies |  Finance |  Economics |  Revenue |  Tax revenue |  Public Finance |  Taxation | 
Places: Americas |  North America |  United States |  West |  Mountain |  New Mexico |  Santa Fe |  Santa Fe | 

Personal finance education is vital to our children's success

al.com

Personal finance education is vital to our children's success

- By Shari Burnum, www.invresource.com. Here's more good news: Hundreds of lessons are available to both teachers and parents through ACEE's affiliate website, The Council for Economic Education. The site features videos and activities on a multitude of economic and personal finance topics, including credit, taxes, gross domestic product. Does your teen want to buy a new car? There's a lesson on that, too

Categories: Education |  Business | 
Tags: Finance |  Personal Finance |  Economy |  Economics | 
Places: United States |  North America |  Americas |  Alabama |  Southeast US |  South | 

Weak inflation erodes conviction at Fed on rate hikes

channelnewsasia.com

Weak inflation erodes conviction at Fed on rate hikes

- DALLAS/WASHINGTON: When the Federal Reserve raised rates earlier this week, Fed Chair Janet Yellen expressed confidence that recent weak inflation readings were transitory. Fed officials on Friday signaled that doubts are simmering. In an interview with Reuters on Friday, Minneapolis Federal Reserve President Neel Kashkari said he was not alone at the U.S. central bank in his view the Fed should have waited to raise interest rates until it was sure the recent drop in price pressures really is temporary

Categories: Business | 
Tags: Economy |  Inflation |  Economics | 
Places: United States |  Singapore | 

Switzerland’s ultra-loose monetary policy remains ‘absolutely necessary’, says SNB President

cnbc.com

Switzerland’s ultra-loose monetary policy remains ‘absolutely necessary’, says SNB President

- The President of Switzerland's central bank has said that its ultra-loose monetary policy remains 'absolutely necessary' after it announced its commitment to keeping interest rates in negative territory on Thursday. At its quarterly policy update held in the Swiss capital Bern, the Swiss National Bank said that it would continue with its monetary policy expansion as part of continued efforts to tackle low inflation and negative output

Categories: Business | 
Places: United States |  Switzerland |  W. Europe |  Europe | 

As inflation swells, some at UK central bank want rate hike

siouxcityjournal.com

As inflation swells, some at UK central bank want rate hike

- LONDON (AP) — The Bank of England is closer to raising interest rates for the first time in a decade than many had expected, with a growing number of its rate-setters appearing worried about a spike in inflation that is eating into the living standards of the British. At its latest policy meeting Thursday, the bank kept its main interest rate at a record low of 0

Categories: Business | 
Places: United States |  England |  London | 

Delaware GOP pushes fiscal reform while Dems eye tax increases

wdel.com

Delaware GOP pushes fiscal reform while Dems eye tax increases

- Democrats are proposing a new personal income tax bracket starting at $150,000 while Republicans are calling for broad fiscal reform as Delaware lawmakers continue struggling to fashion a budget for the upcoming fiscal year. Frustration remained evident among Republican and Democratic legislative leaders Tuesday as the July 1 start of the fiscal year looms closer with no budget agreement in sight

Categories: Business | 
Places: Americas |  North America |  United States | 

Fed will have to respond to weak inflation data as expectations fade for further hikes

cnbc.com

Fed will have to respond to weak inflation data as expectations fade for further hikes

- The Federal Reserve is on track to raise interest rates Wednesday, but surprisingly weak inflation for a third month puts another rate hike later this year in doubt and could change the central bank's tone after its meeting. The Fed is expected to raise interest rates a quarter point Wednesday afternoon, and it was expected to sound somewhat hawkish in its statement even though the market doubts it can raise rates any further this year

Categories: Business | 
Places: Americas |  North America |  United States | 

Fed's Yellen says conditions in place for inflation to rise

cnbc.com

Fed's Yellen says conditions in place for inflation to rise

- Fed Chair Janet Yellen is focused more on economic growth than she is inflation weakness, leading her to believe the central bank will keep raising interest rates. The central bank head addressed perhaps the most vexing issue facing issue facing policymakers, mainly that Fed policies have yet to achieve the 2 percent inflation target its programs were supposed to generate. Federal Open Market Committee members have reduced their forecast for headline inflation this year to 1

Categories: Business | 
Places: Americas |  North America |  United States | 

Fed hikes interest rates despite declining inflation, sets plan for balance sheet reduction

cnbc.com

Fed hikes interest rates despite declining inflation, sets plan for balance sheet reduction

- The Federal Reserve approved its second rate hike of 2017 even amid expectations that inflation is running well below the central bank's target. In addition, the Fed provided more detail on how it will unwind its $4.5 trillion balance sheet, or portfolio of bonds that includes Treasurys, mortgage-backed securities and government agency debt. As financial markets had anticipated, the policymaking Federal Open Market Committee increased its benchmark target a quarter point

Categories: Business | 
Places: Americas |  North America |  United States | 

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Home / United States / Business / Economics
Meet the Orwells, trying to make it big in a music industry turned upside-down
Meet the Orwells, trying to make it big in a music industry turned upside-down LOS ANGELES — It’d been five shows in five states in the past nine days, and now Mario Cuomo and his band mates slouched in patio chairs outside an unfamiliar bungalow, giving no hint of the huge stakes of the backyard gig they were about to play. They sipped tequila and vodka from red plastic cups. They fiddled with their phones   Read More ...
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Sears says it will close 20 more stores
Sears says it will close 20 more stores bad news for Sears Holdings: The beleaguered chain on Friday said it will shutter an additional 20 U.S. stores, amounting to more than 260 closures so far this year. The announcement, which deals yet another blow to the 124-year-old company, comes as retailers across the country struggle to stay relevant in an era of online shopping. Department stores such as Sears, J   Read More ...
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Plunge after Amazon–Whole Foods deal is Costco shares’ worst stretch since Great Recession
Plunge after Amazon–Whole Foods deal is Costco shares’ worst stretch since Great Recession Shares of Coscto Wholesale Corp. continued their retreat Friday, extending the most damaging stretch of losses since the Great Recession, fueled by news of Amazon.com Inc.’s deal to buy Whole Foods Market Inc. Analyst Mark Astrachan at Stifel Nicolaus, who hosted a recent meeting with Costco executives, including Chief Financial Officer Richard Galanti, said the membership-based warehouse retailer’s executives were “surprised at both the deal and the negative share-price reaction,” as they believed other grocers would be more exposed than Costco to competition stemming from the deal   Read More ...
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We've introduced legislation that will help the US keep its competitive edge
We've introduced legislation that will help the US keep its competitive edge From our world-class universities and our unmatched workforce to our culture of entrepreneurship and drive for success, there are many reasons America's economy is the strongest in the world. But a bedrock of our economy is too often overlooked: our intellectual property system. Intellectual property rights have their own clause in the Constitution because our Founding Fathers recognized the importance of encouraging invention and innovation   Read More ...
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Summer Davos: China set to host World Economic Forum meeting in Dalian
Summer Davos: China set to host World Economic Forum meeting in Dalian China will again host the World Economic Forum's annual June meeting, often called Summer Davos, and innovation is in the spotlight. The world's second-largest economy has made waves recently with its fast-growing tech sector, marking what experts say is a noticeable shift away from the old image of a copycat China. And it's a move that China needs — looking toward the new economy driven by the private sector and entrepreneurship   Read More ...
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Surprise! This index shows the economy is in trouble
Surprise! This index shows the economy is in trouble The Citi Economic Surprise Index hit a multiyear low Thursday and according to one portfolio manager, the move should have investors thinking about how to protect their portfolios. The index is a widely followed indicator of how economic data are matching up to expectations, and the fact that it hit its lowest level since August 2011 has Chad Morganlander of Washington Crossing Advisors urging investors to start protecting their portfolios in light of a "deceleration of growth   Read More ...
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Places: Americas |  North America |  United States | 
Fed's Mester: Rate hikes are needed since US economy is 'pretty good'
Fed's Mester: Rate hikes are needed since US economy is 'pretty good' The U.S. economy is on a sound footing so the Federal Reserve must continue raising interest rates so as to avoid employment or inflation getting out of hand and causing a recession, Cleveland Fed President Loretta Mester said on Friday. The rate hikes, she said, "are meant to keep the economy healthy, not to slow down the expansion," she told a Fed-sponsored conference here   Read More ...
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Doctor on demand: How app culture is reviving the house call
Doctor on demand: How app culture is reviving the house call Alison Mintzer and her family were on a flight from New York to Los Angeles when her daughter complained that she felt sick. By the time they landed, Mintzer’s normally uncomplaining 6-year-old said that her neck and ears hurt. When a fever soon followed, it was enough to convince her parents that she needed to see a doctor. Thousands of miles from their pediatrician, and unable to find one quickly in L   Read More ...
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Places: Americas |  North America |  United States |  Northeast |  Atlantic |  New York | 
How the GOP health care bills help the rich
How the GOP health care bills help the rich If Republican efforts to repeal and replace Obamacare are successful, one of the biggest winners would be the wealthy. The Senate's bill -- released this week -- differs in key ways from the House-passed version. But proposals eliminate the taxes imposed on high-income Americans to help pay for an expansion of health benefits under the Affordable Care Act. The legislation also would let people contribute more to certain tax-advantaged accounts   Read More ...
Categories: Business |  Health | 
Tags: Taxes |  Economy |  Money |  Wealth |  Medical Care |  Economics |  Taxation | 
Places: Americas |  North America |  United States | 
The little neighborhood bookstore that a venture capitalist would love
The little neighborhood bookstore that a venture capitalist would love At first blush, Riverby Books on Capitol Hill is a sleepy neighborhood used bookstore with a simple business: buying books at one price and selling them for a little more, pocketing the difference. But Riverby is much more. This little enterprise is a lesson in capitalism. It’s about looking for the hidden gem of a book that will bring thousands of dollars and several times your money   Read More ...
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Places: United States | 
Eurozone economy celebrates growth, though progress not uniform
Eurozone economy celebrates growth, though progress not uniform LondonEvidence built on Friday that the sturdy improvement in eurozone economic growth touted by the European Central Bank is in place – albeit with some wobbles. Cruising speed, not acceleration, Morgan Stanley economists said. Surveys of purchasing managers' plans in the eurozone, Germany and France all indicated steady growth, if not perhaps as much as some economists had expected. The broadest of the managers' surveys – IHS Markit's June flash purchasing managers composite index for the eurozone – dipped to 55   Read More ...
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Places: United States |  Europe | 
Bank of America sees no end to low-inflation, low-rate climate
Bank of America sees no end to low-inflation, low-rate climate NEW YORK Persistent output slack and sluggish economic activity will likely keep inflation and interest rates low around the world in the foreseeable future, Bank of America Merrill Lynch economists said on Friday. "While we think the recent weak inflation readings in the U.S. will only delay the move higher in underlying inflation, for the rest of the world we now see core inflation inching lower rather than higher," the firm's economists Ethan Harris and Aditya Bhave wrote in a research note   Read More ...
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Places: Americas |  North America |  United States | 
Brexit mapped out: The 600+ treaties UK must renegotiate
Brexit mapped out: The 600+ treaties UK must renegotiate Britain is marching itself out of the European Union, a divorce with major implications for trade and the country's economy. One consequence: Leaving means that Britain will no longer be party to over 600 treaties that the EU has with non-European nations on issues ranging from aviation rules to nuclear imports. The U.K. has for decades relied on the EU and its bureaucrats to do the hard work of negotiating treaties   Read More ...
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Places: United States |  Europe |  England | 
CANADA STOCKS-Futures little changed ahead of inflation data
Stock futures pointed to a flat opening for Canada's main stock index on Friday as investors awaited a report on inflation. Canada's annual inflation rate is forecast to have cooled to 1.5 percent in May, from 1.6 percent in April, which will take it further away from the Bank of Canada's 2 percent target. The report is scheduled to release at 8:30 a   Read More ...
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Tags: Economy |  Inflation |  Economics | 
Places: United States |  Canada | 
Corruption, economic crisis overshadow Mongolian election
Corruption, economic crisis overshadow Mongolian election It's unclear whether Ganbaatar will be eligible to run after a video surfaced of him accepting a campaign donation from a South Korean citizen. Sandwiched between Russia and China, resource-rich has been roiled by financial upheaval and the increasing draw of China's economic and political influence that competes with its ties with the democratic West, especially the United States. However, he too has been tarnished following an investigation last year by the Independent Authority Against Corruption into an alleged misappropriation of funds for a new railway during his time as minister of transport   Read More ...
Categories: Politics & Government |  Business | 
Places: Americas |  North America |  United States |  North |  Inner Mongolia | 
How real-estate investors see Seattle tech
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Tags: Economy |  Economics | 
Places: Americas |  North America |  United States | 
After Brexit, U.K. needs to rethink over 600 treaties
After Brexit, U.K. needs to rethink over 600 treaties Britain is marching itself out of the European Union, a divorce with major implications for trade and the country's economy. One consequence: Leaving means that Britain will no longer be party to over 600 treaties that the EU has with non-European nations on issues ranging from aviation rules to nuclear imports. The U.K. has for decades relied on the EU and its bureaucrats to do the hard work of negotiating treaties   Read More ...
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Tags: Economy |  Economics | 
Places: United States |  Europe |  England | 
Gov. Ricketts Announces International Trade Mission to Canada
Media Contacts: Taylor Gage, Governor’s Office, 402-471-1970. Christin Kamm, Department of Agriculture, 402-471-6856. Kate Ellingson, Department of Economic Development, 402-471-3749. LINCOLN – Today, Governor Pete Ricketts announced plans to lead a trade mission to Canada during August 7-11, 2017. Governor Ricketts will lead the mission in conjunction with the Nebraska Department of Agriculture (NDA) and Department of Economic Development (DED)   Read More ...
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Places: New Zealand |  Americas | 
Eurozone economy enjoyed 'best quarter in over 6 years'
Eurozone economy enjoyed 'best quarter in over 6 years' LONDON (AP) — A closely watched survey shows that economic growth across the 19-country eurozone has slipped back in June to a five-month low but that the region still enjoyed its best quarter for more than six years. Financial information firm IHS Markit says its eurozone composite purchasing managers' index, a broad gauge of economic activity across the manufacturing and services sectors, fell to 55   Read More ...
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Places: United States |  Europe | 
What a World Tour of Tax Codes Can Teach the U.S. About How to Reform Its Own
What a World Tour of Tax Codes Can Teach the U.S. About How to Reform Its Own A FINE MESS. A Global Quest for a Simpler, Fairer, and More Efficient Tax System. By T. R. Reid. 278 pp. Penguin Press. $27. Tax ranks high among global economic activities. Federal taxes alone constitute more than a quarter of the American economy. Including state and local levies brings the total tax burden to more than a quarter of Gross Domestic Product   Read More ...
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Tags: Taxes |  Economy |  Economics |  Taxation | 
Places: North America |  United States | 
Eurozone economy enjoyed 'best quarter in over 6 years'
Eurozone economy enjoyed 'best quarter in over 6 years' LONDON (AP) — A closely watched survey shows that economic growth across the 19-country eurozone has slipped back in June to a five-month low but that the region still enjoyed its best quarter for more than six years. Financial information firm IHS Markit says its eurozone composite purchasing managers' index, a broad gauge of economic activity across the manufacturing and services sectors, fell to 55   Read More ...
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Tags: Economy |  Economics | 
Places: United States |  Europe | 
To tip or no: Uber’s about-face on the propriety of a gratuity
To tip or no: Uber’s about-face on the propriety of a gratuity The promise of a tip — that familiar 10 to 20 percent optional add-on for a meal or a ride — might be enough to lure Ryan Rich Moe into the driver’s seat for Uber again. He stopped driving for the popular ride-hailing service earlier this year because he was not making enough money. But Uber, which had resisted tipping for years, announced this week that it will start allowing the practice in some cities and then nationwide   Read More ...
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Places: Americas |  North America |  United States | 
Mexico raises key interest rate to 7 pct to combat inflation
MEXICO CITY (AP) — Mexico's central bank has raised its benchmark interest rate a quarter-point to 7 percent in an effort to limit inflation. The country's medium-term inflation target is 3 percent, but prices have been rising recently at an annual rate of 6 percent. Treasury Secretary Jose Antonio Meade says two further increases are possible as the Bank of Mexico seeks to slow inflation below 4 percent by 2018   Read More ...
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Places: Americas |  United States |  Latin America |  Central America |  Mexico | 
Fed: Biggest US banks strong enough to withstand recession
Fed: Biggest US banks strong enough to withstand recession WASHINGTON (AP) — All of the 34 largest U.S. banks are fortified enough to withstand a severe U.S. and global recession and continue lending, the Federal Reserve said Thursday. The first round of the central bank's annual "stress tests" showed that as a group, the 34 big banks have gained strength thanks to a steadily recovering economy. The banks undergoing the seventh annual check-up included JPMorgan Chase & Co   Read More ...
Categories: Business | 
Places: Americas |  North America |  United States | 
Mexico raises key interest rate to 7 pct to combat inflation
Mexico's central bank has raised its benchmark interest rate a quarter-point to 7 percent in an effort to limit inflation. The country's medium-term inflation target is 3 percent, but prices have been rising recently at an annual rate of 6 percent. Treasury Secretary Jose Antonio Meade says two further increases are possible as the Bank of Mexico seeks to slow inflation below 4 percent by 2018   Read More ...
Categories: Business | 
Places: Americas |  United States |  Latin America |  Central America |  Mexico | 
Trump trade tsar warns against China ‘market economy’ status
Trump trade tsar warns against China ‘market economy’ status Donald Trump's trade tsar has fired a warning shot at both Beijing and the World Trade Organisation, cautioning that any decision to label China a "market economy" would have "cataclysmic" consequences for the body. Testifying before Congress on Wednesday, Robert Lighthizer said the US was eager to see changes in the WTO's dispute resolution system, arguing that the country had unfairly ended up as the top target for complaints in the global trade court   Read More ...
Categories: Politics & Government |  Business | 
Tags: Politicians |  Markets |  Economy |  Trade |  Economics |  Donald John Trump | 
Places: Americas |  North America |  United States | 
Economic disappointment reaches level not seen since 2011
Economic disappointment reaches level not seen since 2011 The performance of the U.S. economy has been disappointing this year to say the least, and in one respect it's the biggest letdown since 2011. Citigroup's Economic Surprise Index, a widely followed indicator of how the data are matching up to expectations, continues to plumb new depths. In fact, the index hasn't been this low since late August 2011, when the White House and Congress brought the country to the brink of a debt default, economists worried about a double-dip recession, and the European debt crisis raged on   Read More ...
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Places: Americas |  North America |  United States | 
Trump: 'I just don't want a poor person' running the economy
Trump: 'I just don't want a poor person' running the economy President Donald Trump has offered a simple explanation for his wealthy Cabinet choices: Rich people know how to manage money better than poor people do. In a rambling aside at a rally in Iowa on Wednesday night, Trump responded to criticism about his choices for top economic jobs, including billionaire investor Wilbur Ross for Commerce secretary and former Goldman Sachs President Gary Cohn for chief economic advisor   Read More ...
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Tags: Politicians |  Economy |  Economics |  Donald John Trump | 
Places: Americas |  North America |  United States | 
Major US banks would withstand recession: US Fed
Major US banks would withstand recession: US Fed WASHINGTON: The largest US banks would withstand a severe recession and still be able to lend to American households and businesses, the Federal Reserve announced on Thursday (Jun 22). The results of the central bank's so-called stress tests showed 34 major lenders were on solid capital footing, it said. "This year's results show that, even during a severe recession, our large banks would remain well capitalised," Fed Governor Jerome Powell said in a statement   Read More ...
Categories: Business | 
Places: United States |  Singapore | 
Fed stress test finds: Biggest U.S. banks strong enough to withstand a recession
Fed stress test finds: Biggest U.S. banks strong enough to withstand a recession The Federal Reserve said Thursday that all of the 34 largest U.S. banks are fortified enough to withstand a severe U.S. and global recession and continue lending. The first round of the central bank's annual “stress tests” shows that as a group, the 34 big banks have gained strength thanks to a steadily recovering economy. The banks were tested to determine if they have large enough capital buffers to keep lending, even if hit with billions of dollars in losses brought on by a financial crisis and severe economic downturn   Read More ...
Categories: Business | 
Places: Americas |  North America |  United States | 
Major US banks would withstand recession: US Fed
Major US banks would withstand recession: US Fed Washington (AFP) - The largest US banks would withstand a severe recession and still be able to lend to American households and businesses, the Federal Reserve announced Thursday. The results of the central bank's so-called stress tests showed 34 major lenders were on solid capital footing, it said. "This year's results show that, even during a severe recession, our large banks would remain well capitalized," Fed Governor Jerome Powell said in a statement   Read More ...
Categories: Business | 
Places: United States |  France | 
Trump’s victory changed the way Americans see reality
Trump’s victory changed the way Americans see reality Democrats and Republicans have never been further apart in their expectations for the economy than they are right now. The Trump presidency appears to have sparked an unprecedented political polarization in consumer confidence, which is often viewed as a leading indicator for the economy’s performance. While Democrats and Republicans have similar beliefs about how the economy is performing at the moment, they are now hugely divided over how it will perform in the future, new research shows   Read More ...
Categories: Politics & Government |  Business | 
Tags: Politicians |  Economy |  Economics |  Donald John Trump | 
Places: Americas |  North America |  United States | 
Fed: Biggest US banks strong enough to withstand recession
The Federal Reserve says all of the 34 largest U.S. banks are fortified enough to withstand a severe U.S. and global recession and continue lending. The first round of the central bank's annual "stress tests" shows that as a group, the 34 big banks have gained strength thanks to a steadily recovering economy. The banks were tested to determine if they have large enough capital buffers to keep lending, even if hit with billions of dollars in losses brought on by a financial crisis and severe economic downturn   Read More ...
Categories: Business | 
Places: Americas |  North America |  United States | 
Senate GOP health plan may not protect millions on Medicaid expansion
Senate GOP health plan may not protect millions on Medicaid expansion Ever since Republicans set about to dismantle Obamacare, moderate lawmakers and governors have fought to protect Medicaid expansion. They say the program has provided coverage to millions of low-income adults and played a key role in battling the opioid epidemic ravaging their states. Moderate GOP senators are hoping to extend the life of Medicaid expansion beyond the hard cutoff contained in the House bill, which would end enhanced funding for new adult participants in 2020   Read More ...
Categories: Business |  Health | 
Tags: Economy |  Medical Care |  Economics | 
Places: Americas |  North America |  United States | 
Why Travis Kalanick didn’t survive at Uber
Why Travis Kalanick didn’t survive at Uber The plot to oust Uber chief executive Travis Kalanick began almost the moment he announced last week that he was taking a temporary break from the celebrated technology company caught up in scandals. The audacious effort to end Kalanick’s run atop one of Silicon Valley’s most successful start-ups was led by one of the company’s own board members, Bill Gurley, a major investor, according to two people familiar with the board’s thinking   Read More ...
Categories: Business | 
Tags: Economy |  Economics | 
Places: Americas |  North America |  United States | 
In this part of the Midwest, the problem isn’t China. It’s too many jobs.
In this part of the Midwest, the problem isn’t China. It’s too many jobs. WARSAW, Ind. — Each day at Zimmer Biomet headquarters, machinists on one robot-assisted factory floor churn out about 3,000 metallic knee parts. They are facing pressure to crank up the pace as the population ages and demand soars. But the artificial-bone giant is grappling with a steep downside of the nation’s low unemployment rate: It is struggling to find enough workers, despite offering some of the region’s best pay and benefits   Read More ...
Categories: Business | 
Tags: Economy |  Economics | 
Places: Americas |  North America |  United States |  Midwest |  East |  Indiana |  Kosciusko |  Warsaw | 
Tax revenue headed to various taxing units in Porter County
VALPARAISO, Ind. (AP) - More than $132 million in spring disbursement tax revenue is headed to cities, towns, school districts, libraries and other taxing units in Porter County. County Auditor Vicki Urbanik tells the (Northwest Indiana) Times (http://bit.ly/2toTgQ7 ) for a story Tuesday that the tax revenue went out Monday. Urbanik says Porter County government is slated to receive $23.7 million during this first disbursement   Read More ...
Categories: Business | 
Tags: Taxes |  Economy |  Economic Policies |  Economics |  Revenue |  Tax revenue |  Public Finance |  Taxation | 
Places: Americas |  North America |  United States |  Midwest |  East |  Indiana |  Porter |  Valparaiso | 
As inflation misses goal, Fed's Evans calls for gradual rate hikes
As inflation misses goal, Fed's Evans calls for gradual rate hikes NEW YORK: With inflation stubbornly soft despite a 16-year low in the U.S. unemployment rate, the Federal Reserve should move only slowly to raise interest rates and trim its massive bond portfolio, Chicago Fed President Charles Evans said Monday. "I don’t want to get hung up over small differences" between whether the Fed raises rates two, three or four times over the course of 2017, Evans said in remarks prepared for delivery to Money Marketeers of New York University   Read More ...
Categories: Business | 
Tags: Economy |  Inflation |  Economics | 
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Japan business mood up, points to better BOJ tankan - Reuters Tankan
Japan business mood up, points to better BOJ tankan - Reuters Tankan The central bank kept monetary policy steady on Friday and upgraded its assessment of private consumption for the first time in six months, signaling its confidence in an export-driven economic recovery that is gaining momentum. In the poll of 526 large- and mid-sized firms, conducted between June 2-15 in which 250 responded, the sentiment index for manufacturers rose to 26 from 24 in May, led by materials firms such as oil refinery/ceramics and textiles/paper   Read More ...
Categories: Business | 
Tags: Economy |  Economics | 
Places: United States | 
Here’s a forecast that should worry investors betting on a second-half surge in the economy
Here’s a forecast that should worry investors betting on a second-half surge in the economy Investors betting on a strong pickup in economic growth might want to consider a new forecast hitting Wall Street on Monday. The New York Federal Reserve now expects U.S. economic growth at an annualized rate of 1.9 percent for the second quarter, down from a 2.3 percent forecast. The bank also expects annualized growth of 1.5 percent in the third quarter, down from 1   Read More ...
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