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Money & The Economy

News on Finance, Money, markets and the economy

New Report Suggests Anti-Oil Activism Have Eliminated Nearly 800K Jobs Opportunities

Anti-fossil fuel activists have sucked tens of billions of dollars out of the U.S. economy and seriously crippled manufacturing jobs, according to a report Tuesday from the U.S. Chamber of Commerce. Activists have prevented at least more than $90 billion in domestic economic activity and eliminated roughly 730,000 job opportunities, the Chamber of Commerce Global Energy Institute (GEI) report notes. ...

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Report: Amazon.com Toy Sales Jump 30% in Third Quarter – and the deals aren’t over yet

A report out Monday finds that the Toys product group on Amazon.com sold an estimated $510M for Q3 2018, up 30% from last year. Amazon.co.uk Toy sales also witnessed a significant year-over-year growth of 15% with total estimated sales reaching £60M. Edge’s Market Share research reveals that Outdoor Play, Toys for Adults and Automotive toy trends will carry Amazon into the new year as one ...

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Survey: Half of Americans Plan Holiday Spending Around Their Anticipated Tax Refunds

Millennials and Gen Xers are most focused on upcoming tax refund A new study reveals that many Americans, especially Millennials and Gen Xers, anticipate how much their tax refund will be to help plan what’s under the tree. A recent online survey fielded by Toluna on behalf of TaxSlayer reported that 50 percent of Americans have used their anticipated IRS tax refund ...

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ConocoPhillips Putting Millions Behind Carbon Tax Push

In a major sign of how the industry is changing its response to the climate change debate, ConocoPhillips is joining other oil and gas giants lobbying Congress for carbon pricing legislation. ConocoPhillips — a multinational energy corporation based in Houston, Texas — revealed to Axios that it will be financially backingAmericans for Carbon Dividends, a self-proclaimed conservative group that is lobbying Congress to ...

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Millennial Home Buyers Most Likely to Put Less Than 20% Down

Home for sale

The largest generation of home buyers also gets the most money from friends or family to make it work and is most likely to tap multiple sources Putting 20 percent down is conventional wisdom, but fewer than half of buyers do it. First-time buyers are more likely to cash out investments or use retirement funds toward a down payment. Buyers ...

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IRS Will Stop Handing Out Subsidies Tesla Buyers In 2020

The Treasury Department announced it would phase out electric vehicle subsidies for Tesla buyers at the beginning of next year. By 2020, those tax subsidies would completely disappear. It’s an announcement that Treasury’s Internal Revenue Service (IRS) will be making more of in the coming years as automakers produce enough electric cars to trigger a phase out of tax subsidies. ...

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Johnson And Johnson Stock Suffers After Report That Company Knew Baby Powder Contained Asbestos

Documents dating back to the 1970s were made available after Johnson & Johnson was compelled to share them with 11,700 plaintiffs claiming Baby Powder and similar products gave them cancer, according to Reuters. Johnson & Johnson saw its stock fall 9 percent after the Friday publication of a Reuters report claiming company leaders mishandled knowledge that some samples of its talc ...

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New Trend: Blue-Collar Workers are Now Scarcer than White-Collar Workers

Reversing a decades-long trend in the U.S. jobs market, companies are now having a more difficult time finding blue-collar workers than white-collar workers. Conducted by The Conference Board, the new analysis forecasts that growing blue-collar labor shortages will continue in 2019 and beyond. Companies can expect growing shortages in sectors that include transportation, health care support, manufacturing, agriculture, mining, and ...

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How a 1911 Supreme Court Ruling Led to an Investment Opportunity Today

A new trend in the life insurance industry has investors from all levels excited: viatical settlements. What is a viatical settlement? It’s a fancier term that refers to the selling of a life insurance policy to a third party for a cash lump sum, as well as agreeing to pay the premiums for the life of the insured. How the ...

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California Debating Tax On Text Messages

California regulators are currently contemplating whether residents would have to pay a fee on text messages from their cell phones. The proposed tax would help fund programs in the state that provides low-income Californians with phone service and will be discussed further during the January 2019 meeting by the California Public Utilities Commission. The rationale from California regulators is this: ...

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Study Shows Trump’s Aluminum and Steel Tariffs Are Working

Donald Trump success

Today, in a presentation at the National Press Club of Washington, the American Primary Aluminum Association (APAA) in conjunction with Economic Policy Institute (EPI), the Alliance for American Manufacturing (AAM) and the Coalition for a Prosperous America (CPA), addressed the economic effects of President Trump’s steel and aluminum tariffs. As part of this presentation, EPI released a new economic study on the ...

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Boeing Cancels Controversial Satellite Order Funded By China

Two Americans wanted to create a satellite in an effort to increase internet access in Africa, but their project quickly turned over into the hands of the Chinese government. Boeing, who was hired to build the satellite and knew of the Chinese government’s involvement in the project, reportedly announced Thursday it was cancelling the order. Boeing cited default for nonpayment, calling ...

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November Jobs Report: 155,000 Jobs Added, Unemployment Steady At 3.7 Percent

economy going up

The U.S. economy added 155,000 jobs through the month of November and the unemployment rate held steady at 3.7 percent, according to Department of Labor (DOL) data released Friday. Wages hit 3.1 percent growth over a year last month, the first time in nearly a decade that wages have broken the 3 percent benchmark. Wage growth held steady at 3.1 percent ...

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DOI Discovers Largest US Oil And Gas Reserve Ever Found In New Mexico

New Mexico and West Texas are sitting on a bonanza of potentially recoverable oil and gas reserves in the Delaware Basis that lies between the two Western states, the Department of Interior announced Thursday. Two underground layers in the Delaware known as the Wolfcamp Shale and Bone Spring Formation contain 46.3 billion barrels of unrecovered oil and 281 trillion cubic ...

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