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Money & The Economy

News on Finance, Money, markets and the economy

Here’s How Progressive Policies Like Medicare For All Could Affect American Middle-Class Taxpayers

If the U.S. adopted a European-style tax system to fund federal entitlement programs, single U.S. workers making $40,000 would see a $6,000 increase in income tax, according to a Heritage Foundation report. If the U.S. implemented all of the socialist-style policies 2020 presidential candidates like Elizabeth Warren and Bernie Sanders are proposing, they would have no choice but to tax ...

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October Jobs Report: 128,000 Jobs Added, Unemployment At 3.6%

The U.S. economy added 128,000 jobs in September, while the unemployment rate rose to 3.6, according to Department of Labor data released Friday. 128,000 jobs were added in October, according to the Bureau of Labor Statistics report, about 8,000 fewer jobs than were added in September and much higher than analysts’ predictions. Economists predicted the General Motors strike would heavily ...

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NBC News Digital Team Is Forming A Union

Employees of NBC News’s digital division plan to form a union to represent around 150 workers, they announced Wednesday. The outlet has come under fire following investigative journalist Ronan Farrow’s new book titled “Catch and Kill: Lies, Spies and a Conspiracy to Protect Predators.” He accuses the network of covering up his story about sexual assault allegations against now-disgraced movie ...

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Small Business Wage Growth Gains Momentum, Job Growth Holds Steady in October

Small business hourly earnings growth hit 3.00 percent in October The tight labor market positively impacted wage growth in October, according to the latest Paychex | IHS Markit Small Business Employment Watch. Hourly earnings are on the rise, reaching 3.00 percent ($0.80) growth in October. Additionally, after hovering just above two percent to start the year, weekly earnings growth has quickly improved to 3.36 ...

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General Motors, Fiat Chrysler, Toyota Split With Industry, Side With Trump in Emissions Fight

Donald Trump success

General Motors, Fiat Chrysler and Toyota sided with the Trump administration in a battle over emissions against the state of California. The Trump administration had proposed to lower emissions standards set during the Obama administration, according to the New York Times. California responded to this by saying that the state would continue to enforce the strict Obama administration laws on ...

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How to Apply for a Balance Transfer Credit Card

Trying to find out how to apply for a balance transfer credit card is more than just taking the necessary steps to get out of a credit card debt: it is a matter of being smarter with your money. We talked to experts in the industry who teach others how to make smarter decisions – and a balance transfer credit ...

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Most Senior Citizens Would Rather Not Give Up Their Homes as They Grow Older

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WASHINGTON, DC – The labor participation rate of older Americans is increasing for a variety of reasons. The National Council on Aging [NCOA] reports that one in five seniors are still working. In fact, says Dan Weber, president of the Association of Mature American Citizens [AMAC]: “The term, ‘retirement age,’ may become irrelevant in the 21st century.  For one thing, modern ...

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United Auto Workers Reach Tentative Deal With General Motors After Month-Long Strike

The United Auto Workers Union reached a tentative deal with General Motors Wednesday after a month-long strike. While details of the deal are not yet available, members of the union are expected to receive bonuses and raises as part of the deal, according to CNBC News.  General Motors stock jumped 2.5% in Wednesday morning trading, the publication reported. “The number ...

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‘I Suggest Farmers … Immediately Buy More Land’: Trump, China Reach ‘Phase One’ Of Trade Agreement

Donald Trump success

President Donald Trump said and Chinese Vice Premier Liu He reached “phase one” of a U.S.-China trade deal after Friday talks between trade officials from both countries. The deal comes after nearly two years of a tense trade war involving back-and-forth tariffs, blacklists and threats to and from both countries as the administration attempts to hold China accountable for its ...

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Iranian Oil Tanker Hit By Two Missiles Off Saudi Arabian Coast: Report

An Iranian oil tanker in the Red Sea off the coast of Saudi Arabia was hit by two missiles Friday, the country’s foreign ministry confirmed. The attack caused an oil like that has since been plugged, Reuters reported. The National Iranian Tanker Company (NITC) said “the blasts were probably caused by missile strikes” in a statement on its website, adding ...

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Debt Negotiation Tips for the Australian Market

Dealing with bad debt in Australia is a common challenge these days, for both businesses and individuals. The 2018’s household wealth and debt data revealed that the average Australian household owed $250,000. According to investment bank Morgan Stanley, this figure has been on a steady upward course since 2003. People are losing confidence in their ability to avoid a debt ...

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Warren Presidency Could Spell Ruin For Stock Market, Analysts Predict

Democratic Massachusetts Sen. Elizabeth Warren’s presidency could spell ruin for the stock market, analysts predict. The stock market has already started to show negative impact from Warren’s campaign, analysts told Bloomberg, and her presidency could impact the stock market even further. The bank earnings season will begin October 15, the publication reports. “Elizabeth Warren will be the overhang this earnings ...

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September Jobs Report: 136,000 Jobs Added, Unemployment Declines To 3.5%

Donald Trump success

The U.S. economy added 136,000 jobs in September, while the unemployment rate declined to 3.5%, according to data released by the Department of Labor on Friday. 136,000 jobs were added in September, according to the Bureau of Labor Statistics report, about 6,000 more jobs than were added in August. Unemployment declined to 3.5%. Economists predicted the unemployment rate would remain ...

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Forever 21 Files For Bankruptcy As More Shoppers Buy Online

Forever 21, a popular California-based retail store with over 720 worldwide locations, announced plans to file for bankruptcy in a Sunday letter to customers. The store, known best for its low prices and trendy styles, will close 178 of its 600 U.S. stores and 350 stores overall as shoppers buy more online, The New York Times reported. “… As part ...

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4.9 Million People Affected By DoorDash Data Breach

An unauthorized third party hacked into the database of DoorDash on May 4, affecting 4.9 million users, the company food delivery app confirmed in a Friday blog post. The hacker could have gained access to names, contact information, addresses, the last four digits of users’ credit cards and the license numbers of about 100,000 delivery drivers, according to the blog ...

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