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Money & The Economy

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Trump Effect: Unemployment Claims Hit 50-Year Low

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The total number of workers claiming unemployment insurance fell to the lowest level in 50 years, the Department of Labor reported Thursday. The number of applications claiming unemployment insurance benefits dropped by 10,000, bringing the number of applicants to 202,000, the lowest recorded number since Dec. 6, 1969, when the U.S. workforce and population were much smaller than they are ...

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Whiskey Market to Grow 6.4%, Worth $89.6 Billion

The global whiskey market size is expected to reach USD 89.60 billionby 2025, according to a new report by Grand View Research, Inc. The market is anticipated to witness a CAGR of 6.4%during the forecast period on account of rising product consumption across the globe. Growing product usage in the artistic preparation of alcoholic drinks is the key factor driving the industry. Blended whiskey is ...

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Colorado Democrats Pass Bill To Crack Down On A Pillar Of State’s Economy — Oil And Gas Drilling

Legislation is headed to Colorado Governor Jared Polis’ desk that would completely overhaul state permitting of oil and gas wells that’s got Republicans and industry worried. The bill, which passed out of the state Senate on Wednesday in a party-line vote, changes the make-up and mission of the Colorado Oil and Gas Conservation Commission, the state’s drilling regulatory body. Once ...

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Workers Say Retirement is Freedom

New study explores the retirement prospects of Millennials, Generation X, and Baby Boomers In this era in which people have the potential to live longer than in any other time in history, a time when workers are grappling with how to financially prepare for older age, nonprofit Transamerica Center for Retirement Studies® (TCRS) set out to answer the question, “What does ‘retirement’ ...

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Under Trump, People With The Least Education Have Seen Their Income Rise The Fastest

Donald Trump success

Americans with the least amount of education have seen the strongest growth in their wages in the past decade, the Wall Street Journal reports. Wages for workers with less than a high school education degree grew roughly 21 percent from the beginning of 2009 to the end of 2018, according to Department of Labor data reviewed by WSJ. For education ...

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Dick’s Sporting Goods Lost Millions Over Anti-Gun Policies – Here’s How Much The Backlash Cost

Dick's Sporting Goods

Dick’s Sporting Goods took a loss of an estimated $150 million in sales last year after the company heavily restricted firearm purchases and began advocating anti-gun propaganda. The company made various policy changes after a school shooting in Parkland, Florida, left 17 dead. It announced it would no longer sell modern sporting rifles or high-capacity magazines, and increased the purchase ...

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Air Travel Consumer Report: January 2019 Numbers

WASHINGTON – The U.S. Department of Transportation (DOT) today released its March 2019 Air Travel Consumer Report (ATCR) on marketing and reporting air carrier data compiled for the month of January 2019. Complaints About Airline Service In January 2019, DOT received 878 complaints about airline service from consumers, down 39.5 percent from the total of 1,452 filed in January 2018 and down 12.3 ...

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Airline Goes Bankrupt, Leaves Thousands Stranded Across Europe

WOW Air declared bankruptcy and ceased all operations Thursday in a move that left thousands of travelers stranded across Europe and North America. “WOW AIR has ceased operation. All WOW AIR flights have been cancelled,” the airline posted in a Thursday travel alert. The Icelandic airline grounded planes from New York, Boston, Detroit, Baltimore, Montreal and Toronto late Wednesday night, ...

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Coal Advocates Warn The US Grid Is Growing More Vulnerable

The American Coalition for Clean Coal Electricity (ACCCE) released a white paper Wednesday warning of the U.S. electric grid’s growing instability as coal plants are phased out. The coal industry has suffered years of decline and coal plants in the U.S. are struggling to stay open. The industry’s waning is causing downstream effects to workers who must find new jobs ...

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Terrorist Financing Targeting Center Hosts Exercise on Disrupting Illicit Finance

Riyadh, Saudi Arabia – The Terrorist Financing Targeting Center (TFTC) this week convened a regional capacity-building workshop in Riyadh focused on Iranian illicit finance schemes and the risks Iran poses to the international financial system. The TFTC, launched in 2017, is a multilateral effort among the United States, Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Qatar, and Oman to ...

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Forecast: New Vehicle Sales Slip in March to Close Out a Down First Quarter

Ford car lot auto dealership car sales

March marks the first month that the SAAR is expected to move above 17 million in 2019 Analysts say sales continue to slow down year over year Edmunds forecasts that 1,588,185 new cars and trucks will be sold in the U.S. in March for an estimated seasonally adjusted annual rate (SAAR) of 17.2 million. This reflects a 25.3 percent increase in sales ...

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Treasury Offers Underpayment Penalty Relief to More Taxpayers

Washington – Today, the U.S. Department of the Treasury lowered the withholding underpayment threshold to 80 percent, delivering more taxpayers penalty relief. This change applies to taxpayers whose total withholding and estimated tax payments for 2018 are equal to or greater than 80 percent of their taxes owed. The typical threshold to avoid a penalty is 90 percent, but earlier ...

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Treasury Sanctions Venezuela’s National Development Bank, and Subsidiaries, in Response to Illegal Arrest of Guaido Aide

Washington – Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Banco de Desarrollo Economico y Social de Venezuela, or BANDES, pursuant to E.O. 13850, as amended, for operating in the financial sector of the Venezuelan economy, as well as four additional financial institutions that BANDES owns or controls. “The willingness of Maduro’s inner-circle to exploit ...

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Maryland Lawmakers Want To Increase Minimum Wage By Nearly 50 Percent

The Maryland General Assembly voted Wednesday to approve a state $15 minimum wage, sending the bill to GOP Gov. Larry Hogan’s desk for final approval, The Baltimore Sun reports. Hogan has opposed raising the current $10.10 minimum wage by such a large amount, a nearly 50 percent increase. The bill passed Maryland’s legislature with enough votes to overcome an executive veto, all ...

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Report: Used Vehicle Market Poised for Record Sales in 2019

New car prices hit record highsCertified pre-owned (CPO) vehicle sales expected to rise as affordable alternatives Used vehicle sales in 2019 are poised to hit the highest level since the recession, according to a new report from Edmunds. In 2018, 40.2 million used vehicles were sold in the U.S.; in 2019, Edmunds analysts predict used vehicle sales could approach 41 ...

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