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Money & The Economy

News on Finance, Money, markets and the economy

China’s Latest Trade Threat Reignites Concerns Over US Mineral Dependency

The escalating U.S.-China trade dispute has brought American mineral dependency back into the spotlight. The U.S. is dependent on China for rare earth minerals used in hundreds of hi-tech products and military equipment. “China is letting the U.S. know that it has leverage,” said Dan McGroarty, head of the American Resources Policy Network. Reports of Chinese threats to escalate its ...

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Main benefits to After Hours Trading

Whether it’s from the TV news, Hollywood movies, studying economics or personal interest, most people know that stock markets exist all around the world and are populated by traders, even if they don’t know much more about how it all works. However, anyone who interested in being more active on the stock market would do well to learn about both ...

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A Third Of American Companies In China Will Cancel Or Delay Investments. Even More Are Considering Leaving: Survey

Roughly one-third of surveyed American companies in China will cancel or delay investments in the country due to the ongoing trade standoff with the U.S., according to a May report from the American Chambers of Commerce in China and Shanghai. Even more of those companies, roughly 40 percent, said they are considering moving their manufacturing facilities out of China to ...

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Trump Could Save Taxpayers ‘Billions Of Dollars’ By Straightening Out One Program, Report Finds

The Trump administration could save “billions of dollars” if the Energy Department improved its management of radioactive waste clean-ups, according to the Government Accountability Office (GAO). The GAO report, released Tuesday, also reported Congress could save up to $4.3 billion by curtailing of eliminating the loan program that gave $192 million to a failed luxury electric car company. “The Department ...

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US Fined Wall Street $20 Billion Over The Last Five Years But Collected Only About Half

Wall Street companies have failed to pay a significant amount of the billions in fines the Securities and Exchange Commission (SEC) handed down in recent years. The SEC collected 55% of the $20 billion in enforcement fines established through court decisions or settlements over the five fiscal years that ended in September 2018, The Wall Street Journal reported. Previous years ...

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Trump Trade Deal Clears Hurdle As Canada And US Agree To End Tariff Battle

Donald Trump success

President Donald Trump’s North American trade deal received good news Friday when the U.S. and Canada agreed to end their tariff battle that began in the summer of 2018. “Now that we’ve had a full lift on these tariffs, we are going to work with the United States on timing ratification” of the U.S.-Mexico-Canada Agreement (USMCA), Canadian Prime Minister Justin ...

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AMAC warns of more Social Security phone scams

Robocalls

WASHINGTON, DC, MAY 17 – Robocall Social Security Administration scams are on the rise. The Federal Trade Commission [FTC] says SSA telephone shakedowns specifically targeting senior citizens now surpass phony IRS calls, according to the Association of Mature American Citizens [AMAC]. For the past few years, fake IRS calls topped the list of complaints received by the FTC. “But the new SSA ...

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U.S. Home Prices Resume Growth, Up 2.8% in April

Home for sale

(NASDAQ: RDFN) — U.S. home-sale prices edged up 2.8 percent year over year to a median of $307,600 in April, according to a new report from Redfin (www.redfin.com), a technology-powered real estate brokerage. This marks a rebound from March’s slight annual price decline and a return to a more sustainable level of price growth than the 7 to 9 percent home price increases seen ...

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Sen. Hawley Introduces A Bill Cracking Down On Big Tech Exports To China

Missouri Sen. Josh Hawley pushed legislation Tuesday that would make it more difficult for American tech companies to export their technology to China. Hawley’s bill, which has few details. would require President Donald Trump to restrict any technology to China that would contribute to the communist country’s military. The Republican’s legislature would also place heavy restrictions on technology that influences ...

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Study: 90 Percent of Teachers Believe Personal Finance Should be Taught in School

According to the latest study from the Global Financial Literacy Excellence Center (GFLEC) at the George Washington University School of Business, 90 percent of teachers and 93 percent of other professionals believe that financial education should be a priority in school. Currently, an average of 65 percent of teachers are motivated to teach it, but findings indicate that professional development and their own ...

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Postal Service Loses $2.1 Billion in Q2, Fails to Grow Revenue in Boom Economy

U.S.P.S. rates to go up on Monday

The U.S. Postal Service (USPS) continues to lose money despite a booming economy under the Trump administration. USPS reported total revenue of $17.5 billion for the second quarter of fiscal 2019 (January 1, 2019 – March 31, 2019), a decrease of $8 million compared to the same quarter last year. The postal service is working to replace lost first class mail revenue with increased parcel ...

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Chick-Fil-A Revenues Soar Above The Competition

Chick-fil-A is on track to become the nation’s third-largest fast-food chain, behind McDonald’s and Starbucks. The fast-food chain’s sales have tripled over the last 10 years and it reported $10.8 billion for 2018, according to food-service consultancy Technomic Inc., The Wall Street Journal reported. The company has faced repeated boycotts and protests against expansion locations by political interests. The protests ...

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Conservatives Issue Dire Warning About Extending Electric Vehicle Subsidies

Conservative groups signed a letter Thursday warning a group of bipartisan lawmakers that extending electric vehicle tax credits will likely be a giveaway to wealthy people at the expense of poor Americans. Electric vehicle tax credits “overwhelmingly benefit the rich,” American Energy Alliance head Tom Pyle and other conservative groups said in the letter to Republican Sen. Chuck Grassley of ...

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Federal Regulations Amount to $15,000 ‘Hidden Tax’ On Families, Report Finds

The federal regulatory apparatus imposed a roughly $14,600 “hidden tax” on American households last year, according to a new report by the Competitive Enterprise Institute (CEI). “That amounts to 20 percent of the average pretax income of $73,573, and 24 percent of the average expenditure budget of $60,060,” CEI’s Wayne Crews wrote in his annual Ten Thousand Commandments report released ...

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