The Federal Reserve economic policy committee meets next week to consider whether to open the door to raising interest rates in June. Falling unemployment favors higher rates, but weighing in the opposite direction, inflation remains well below the Fed target of 2 percent.
President Obama has ordered the Department of Education and its network of federal agencies to determine whether or not to allow student loans to be discharged in bankruptcy proceedings.
The Apple (NASDAQ:AAPL) “Spring Forward” event was poorly received by most viewers, and the stock sold off. “The Apple Watch” functionality had already been known to the market and the disappointing eighteen-hour battery life was contradicted by the product page
Apple unveiled its highly anticipated health-tracking Watch today, along with a breakthrough initiative to vastly increase the research resources of the global medical community. With a new app, ResearchKit, millions of Apple users can now offer crucial data on their daily habits to approved medical researchers.
The job market has improved, but only momentarily, and it won’t force the Federal Reserve to raise interest rates in June. That should keep a lid on rates banks charge for consumer loans and mortgages.
Great money managers say the secret to success is not the ability to buy good stocks, but the ability to know when to sell them. In a recent post on his blog, Dallas Mavericks owner and serial entrepreneur Mark Cuban said
At a Senate Environment and Public Works Committee hearing, Senator Jeff Sessions grilled EPA chief Gina McCarthy and left her unable to justify her money grab, showing that she could not explain whether climate change models were correct or not.
San Diego, which refers to itself as “America’s Finest City,” seems to have the hottest economy in the Western United States. After years of financial and political turmoil that almost resulted in the eighth-largest U.S. city filing for bankruptcy, the San Diego local economy is off to a roaring start in 2015.
Fifty Shades of Grey has crossed $500 million at the global box office.
To listen to President Obama, the U.S. economy is firing on all cylinders. Yet it is hardly creating jobs at a breakneck pace, and too many able-bodied men have grown lazy and show no interest in working.
Investors celebrated the NASDAQ stock market topping the 5,000 level this week for the first time since March 2000. But there were no celebrations in Sacramento for the anniversary of the last time that California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS) were over 100 percent funded.
As the globe’s top venture capitalist, John Doerr of Kleiner Perkins Caufield & Byers has funded and mentored tons of start-up Silicon Valley companies that became fantastically successful, including Google, Amazon, Intuit, and Electronic Arts, Twitter, Square and Zynga. But one of his worst bets may turn out to be personally hiring Ellen Pao in 2005. Pao is dragging Doerr into her lawsuit for $16 million for sexual discrimination after 7 years at the firm.
If you are coming in for a landing at John Wayne Airport in Orange County, California, it’s time to pull out your smartphone and use an app to get matched with a driver to pick you up curbside.
In an exposé entitled “Poor Kids of Silicon Valley,” a CNN reporter seems shocked to uncover a high level of child poverty in the affluent Bay Area. CNN concludes, after consulting with “economists and experts,” that a minimum wage hike to $10.10 would significantly help end child poverty. But if CNN actually talked to the most impoverished families, they would have learned that raising minimum wage, like Oakland just did, results in maximizing single young mothers and their children living in poverty.
Forbes released it’s annual list of the world’s billionaires and it shows that America is increasingly becoming a nation of self-made elite. Since Forbes started keeping track in 1984, the number of completely self-made billionaires (who grew from little wealth)
As West Coast union dockworkers celebrate a tentative agreement for a five-year contract featuring even higher wages and benefits than the current $1,200-per-day, shipping companies intend to introduce new mega-container-ships and port handling equipment that will help automate away many union jobs.
After initially driving down the price of oil by increasing its production, which gave Americans a welcome drop in prices at the pump, could Saudi Arabia now be pushing them back up?
As Breitbart reported last week in “Teamsters Win Big in Silicon Valley, Target Tech Companies”, after the Teamsters Local 853 organized Facebook contract shuttle bus drivers a week ago, over the weekend they won elections organizing drivers for Yahoo, Apple, Genentech, eBay and Zynga.
China Daily reported that tourism from China to Los Angeles has nearly quadrupled over the past four years. Visitors rose from 158,000 in 2009 to 570,000 in 2013. With over a million Chinese visiting California last year and a projected 2 million by 2020, retailers and restaurants are thrilled at the reported $6,000 spending-per-visit.
In the weekly GOP Address, Rep. Jim Renacci (R-OH) lobbied President Barack Obama to back a savings plan passed by the House earlier this week with bipartisan support. Transcript as follows: Good morning, I’m Jim Renacci, and I have the honor of representing
The all-Republican Board of Supervisors of Orange County in California is poised next Tuesday to adopt one of the nation’s most aggressive and enlightened policies to open the doors for all passengers flying in and out of John Wayne International Airport to be able to arrive and leave the airport easily via ride-sharing companies such as Uber, Lyft and Sidekick.
The City of Stockton emerged from bankruptcy on Wednesday, February 25, after a 31-month ordeal. There were no winners in trying to restructure over $2 billion in debt and obligations. Nearly half of non-safety city employees were dumped, the survivors’ wages were cut by up to 23 percent, and retirees lost $500 million in lifetime medical benefits. Bondholders and creditors are receiving pennies on the dollar. Hopefully the sad lessons about what happened to Stockton might help other California cities to control spending.
The consumption of breakfast cereal has plunged; Kellogg, which makes Frosted Flakes, Rice Krispies, Froot Loops, and Special K, saw its sales of cereal drop 8 percent this quarter, according to Devin Leonard of Bloomberg.
Despite its many advantages, the American corporate business model is slowly and painfully dying, and with it, a tremendous potential for future economic growth.
Since 2008, the Federal Reserve has been giving banks virtually free money by keeping their short term borrowing rates near zero.
