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Economics :: Economy

In Towns Already Hit by Factory Closings, a New Casualty: Retail Jobs

nytimes.com

In Towns Already Hit by Factory Closings, a New Casualty: Retail Jobs

- JOHNSTOWN, Pa. — Dawn Nasewicz comes from a family of steelworkers, with jobs that once dominated the local economy. She found her niche in retail. She manages a store, Ooh La La, that sells prom dresses and embroidered jeans at a local mall. But just as the jobs making automobile springs and rail anchors disappeared, local retail jobs are now vanishing

Categories: Business | 
Tags: Economy |  Economics | 
Places: Americas |  North America |  United States |  Northeast |  Atlantic |  Pennsylvania | 

Debt, protectionism could drag down improving global economy

siouxcityjournal.com

Debt, protectionism could drag down improving global economy

- FRANKFURT, Germany (AP) — The global economy has picked up and prospects for the next few months are the best in a long time. But the recovery is maturing and faces risks from populist rejection of free trade and from high debt that could burden consumers and companies as interest rates rise. Those were key takeaways from a review of the global economy released Sunday by the Bank for International Settlements, an international organization for central banks based in Basel, Switzerland

Categories: Business | 
Tags: Economy |  Economics |  Global Economy | 
Places: United States |  Hesse |  Frankfurt | 

Economic impact is far-reaching: Study shows Fargo-Moorhead flooding could have wide effect on region

inforum.com

Economic impact is far-reaching: Study shows Fargo-Moorhead flooding could have wide effect on region

- FARGO — The economic impact of continued Red River flooding could reach beyond the Fargo-Moorhead area. The Metro Flood Study Work Group met Thursday to review an analysis that many of the jobs and manufacturing in Fargo-Moorhead help fuel the regional economy. The group commissioned the Greater Fargo Moorhead Economic Development Corp. to study the regional economic impacts of Cass and Clay counties

Categories: Business | 
Tags: Economy |  Economics | 
Places: Americas |  North America |  United States |  Midwest |  West |  North Dakota |  Fargo | 

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 | 

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 | 

Fed: Biggest US banks strong enough to withstand recession

siouxcityjournal.com

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

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

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 | 

Here’s a forecast that should worry investors betting on a second-half surge in the economy

cnbc.com

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

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

Mike Pence's infrastructure mess: What went wrong with I-69?

indystar.com

Mike Pence's infrastructure mess: What went wrong with I-69?

- When former Indiana Gov. Mike Pence changed course and went with a public-private partnership for the I-69 construction, problems set in for the private company that won the bid. Buy Photo. At first, it sounded like a good idea: Indiana would use a public-private partnership to extend I-69 from Bloomington to Martinsville, relying on private sector ingenuity to bring it in on time and under budget

Categories: Business | 
Places: Americas |  North America |  United States |  Midwest |  East |  Indiana | 

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 | 

Vote: As Amazon buys Whole Foods, how do you shop?

seattletimes.com

Vote: As Amazon buys Whole Foods, how do you shop?

- How are you shopping for groceries and might that change? Please take the Friday poll.

Categories: Business | 
Tags: Economy | 
Places: United States | 

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Debt, protectionism could drag down improving global economy
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For a stronger India-U.S. bond
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American workers have done all they can do to grow the economy. Now it’s turn of business
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‘New U.S. envoy could aid FDI inflows’
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Tags: Economy |  Economics | 
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In Towns Already Hit by Factory Closings, a New Casualty: Retail Jobs
In Towns Already Hit by Factory Closings, a New Casualty: Retail Jobs JOHNSTOWN, Pa. — Dawn Nasewicz comes from a family of steelworkers, with jobs that once dominated the local economy. She found her niche in retail. She manages a store, Ooh La La, that sells prom dresses and embroidered jeans at a local mall. But just as the jobs making automobile springs and rail anchors disappeared, local retail jobs are now vanishing   Read More ...
Categories: Business | 
Tags: Economy |  Economics | 
Places: Americas |  North America |  United States |  Northeast |  Atlantic |  Pennsylvania | 
Debt, protectionism could drag down improving global economy
Debt, protectionism could drag down improving global economy FRANKFURT, Germany (AP) — The global economy has picked up and prospects for the next few months are the best in a long time. But the recovery is maturing and faces risks from populist rejection of free trade and from high debt that could burden consumers and companies as interest rates rise. Those were key takeaways from a review of the global economy released Sunday by the Bank for International Settlements, an international organization for central banks based in Basel, Switzerland   Read More ...
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Debt, protectionism could drag down improving global economy
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Tags: Economy |  Global Economy | 
Places: Americas |  North America |  United States | 
Disrupt the disrupters: Uber’s comeuppance is the moment for the U.S. to finally start regulating the so-called sharing economy
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Places: Americas |  North America |  United States | 
All the banks have enough capital to withstand a severe recession, Fed says
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Economic impact is far-reaching: Study shows Fargo-Moorhead flooding could have wide effect on region
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Tags: Economy |  Economics | 
Places: Americas |  North America |  United States |  Midwest |  West |  North Dakota |  Fargo | 
Papua New Guinea begins voting amid economic uncertainty
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Places: United States | 
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Sears says it will close 20 more stores
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Places: Americas |  North America |  United States | 
Plunge after Amazon–Whole Foods deal is Costco shares’ worst stretch since Great Recession
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Places: United States | 
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Fed's Mester: Rate hikes are needed since US economy is 'pretty good'
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Places: Americas |  North America |  United States | 
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Places: Americas |  North America |  United States |  Northeast |  Atlantic |  New York | 
How the GOP health care bills help the rich
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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
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Places: United States | 
Eurozone economy celebrates growth, though progress not uniform
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Tags: Economy |  Economics |  Economists | 
Places: United States |  Europe | 
Bank of America sees no end to low-inflation, low-rate climate
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Places: Americas |  North America |  United States | 
Brexit mapped out: The 600+ treaties UK must renegotiate
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Categories: Business | 
Tags: Economy |  Economics | 
Places: United States |  Europe |  England | 
CANADA STOCKS-Futures little changed ahead of inflation data
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Categories: Business | 
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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Categories: Business | 
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 ...
Categories: Business | 
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 ...
Categories: Business | 
Tags: Economy |  Economics | 
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 ...
Categories: Business | 
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 ...
Categories: Business | 
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 ...
Categories: Business | 
Tags: Economy |  Economics | 
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 ...
Categories: Business | 
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 ...
Categories: Business | 
Tags: Economy |  Economics | 
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 ...
Categories: Politics & Government |  Business | 
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 |