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Money & The Economy

News on Finance, Money, markets and the economy

Is Tesla On Its Way To Crashing And Burning? Electric Car Company Posts Huge Losses In 2019

Tesla’s first quarterly earnings report of 2019 showed the company took a massive financial hit after losing a $7,500 electric vehicle tax credit on Jan. 1, Greentech Media reports. Tesla released its Q1 earnings report Wednesday, showing losses greater than the already pessimistic predictions from analysts. The electric car company posted a $702 million net loss, according to Generally Accepted ...

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Low marks for performance reviews

By Chris Woolston, Knowable Magazine Whether a business model is built on gigabytes, interest rates or the latest innovations in aluminum siding, every company ultimately depends on its people — some more than others. Businesses of any size have stars that drive productivity and get results, but look beyond those high achievers — the break room might be one place ...

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McDonald’s Partners With AARP To Hire Older Workers |

McDonald’s Corporation entered a partnership Wednesday with the American Association of Retired Persons (AARP) to fill its need for morning workers and expand diversity. The fast food chain aims to attract older Americans who can fill employment gaps at the company. AARP is “the nation’s largest nonprofit, nonpartisan organization dedicated to empowering Americans 50 and older to choose how they ...

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CZ-USA To Build $90 Million Facility In Little Rock

CZ-USA, the U.S.-based affiliate of a Czech firearms manufacturer, announced plans Tuesday to build its first-ever domestic manufacturing facility in Little Rock, Arkansas. The location will serve as the North American headquarters for CZ-USA, which will begin construction immediately on a 256,000-square-foot factory which will be located on a 73 acre site owned by the Port of Little Rock, the ...

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How will the economy affect your personal finances?

The American economy is one of the largest in the world by most measures – and as a result, it’s a dynamic and ever-changing environment. One person’s experience of it is not the same as any other person’s – and a blue-collar worker in Iowa is likely to have a very different perception of the economy from an entrepreneur in ...

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Minimum Wage Hikes Are Costing California Jobs, Study Says

California’s minimum wage increase has cost the state thousands of jobs worth of growth in the state’s booming restaurant industry, according to a recent study by the University of California Riverside. California passed a bill in 2016 to bring the state’s minimum wage up to $15 an hour. For businesses with more than 25 employees, the state’s minimum wage rose ...

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Food Stamps Now Available to Use Online

Food stamp users will be able to purchase their groceries online in a pilot partnership program between mega-supermarket companies and the U.S. Department of Agriculture (USDA). The USDA announced Thursday its launch of a “SNAP Online Purchasing Pilot” permitting food stamp users to buy their groceries online for pickup or delivery. Amazon and Walmart are participating in the program, and ...

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Democrats Have Convinced A Majority Of American’s That Trump Didn’t Cut Their Taxes. They’re Wrong

Not even one in ten American taxpayers got a tax increase this year, but a New York Times survey reveals that many Americans believed they did not get tax cuts because of Democratic misrepresentation. The New York Times conducted a survey through Survey Monkey in early April that found that 40 percent of Americans believed they had received a tax ...

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Financial Action Task Force (FATF) Ministers Take Steps to Protect the Global Financial System

President Trump and Treasury Secretary Mnuchin

Washington – Today, U.S. Department of the Treasury Secretary, Steven T. Mnuchin, chaired a meeting of Ministers and other senior officials, representing the membership of the Financial Action Task Force (FATF). “Since its inception thirty years ago, the FATF has been at the forefront of efforts to combat money laundering.  This Minister-level meeting reaffirmed our collective commitment to protect the ...

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GE to Pay $1.5 Billion for Alleged Misrepresentations of Subprime Loans in Mortgage-Backed Securities

The Department of Justice today announced that General Electric (GE) will pay a civil penalty of $1.5 billion under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) to resolve claims involving subprime residential mortgage loans originated by WMC Mortgage (WMC), a GE subsidiary. WMC, GE, and their affiliates allegedly misrepresented the quality of WMC’s loans and the ...

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Trump’s Latest Executive Action Could Alleviate A Huge Problem For The World’s Most Productive Oilfield

The Permian basin, now the world’s most productive oil and gas field, is booming — so much so that there’s not enough pipeline capacity to carry out all the natural gas it produces, meaning much of it is flared. How much? Some 553 million cubic feet per day, or enough to power every home in Texas, according to data from ...

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What We Learned From Uber Making Its IPO Filing Public

Uber made its initial public offering public of Thursday ahead of a public listing that experts say could set records. The ride-sharing company changed the U.S. transportation landscape after it was founded in 2009 but has faced many controversies, including a lawsuit related to alleged sexual assaults committed by fake Uber drivers and a late March strike by Los Angeles ...

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Wal-Mart Rolls Out Fleet Of Robots, Says Automation Is Good For Its Workers

Walmart is adding hundreds of robots to its stores to help wash floors and perform low-level jobs that will free up workers to do other important work. Walmart will add robots to at least 300 of its stores this year, The Wall Street Journal reported. In another 900 of its stores, Walmart will put 16-foot-high towers permitting shoppers to pick ...

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196,000 Jobs Added, Unemployment 3.8 Percent

Donald Trump success

The U.S. economy added 196,000 jobs in March while the unemployment rate remained steady at 3.8 percent, making March the 102nd straight month of job growth, according to Department of Labor data released Friday. Economists surveyed by The Wall Street Journal expected that the jobs report would show solid growth by 175,000 jobs and for the unemployment rate to remain ...

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