Money & The Economy

The European Commission approved U.S. soybeans to be used in the production of biofuels, a decision that will fulfill President Donald Trump’s demand that the European Union buy more of the product. “Today’s decision is new proof that the European Union is delivering on our commitments,” EU Commission spokesman Margaritis Schinas said Tuesday. “[T]his means that as of today it ...

Pacific Gas and Electric (PG&E), California’s largest utility company, filed for bankruptcy at midnight on Tuesday, seeking to escape potentially $30 billion in liabilities, CBS News reports. The company announced its plans to pursue bankruptcy protection two weeks ago after its CEO, Geisha Williams, stepped down reportedly over fallout from the utility’s wildfire debt. PG&E said then that bankruptcy “represents ...

U.S. economic freedom rose to the highest level in eight years in 2019, hopping up six spots on The Heritage Foundation’s annual Index of Economic Freedom. The Heritage Foundation released the updated list of countries, from the most economically free to the least, Friday. The United States’s ranking in the index has risen since 2017 up to 12th, largely due ...

Top scoring brands in the new study include Acura, BMW, Chevrolet, Ford, Honda, Lexus, Mercedes-Benz and Toyota Study measures and compares six areas of performance relevant to a franchise dealer’s ability to succeed The Retail Brand Scorecards, an annual study launched today at NADA, are compiled by Cox Automotive in association with Automotive News As auto dealers from across the ...

The U.S. will become “energy independent” by 2020, according to a new Energy Information Administration (EIA) forecast released Thursday. EIA projects American crude oil production will “set annual records through the mid-2020s and remains greater than 14.0 million barrels per day (b/d) through 2040” and the country will be a net exporter of petroleum liquids by 2020. The U.S. briefly ...

Following the holiday spending ‘hangover,’ 2019 presents a clean slate for consumers to get their finances in order, says CFP Board Ambassador Lynn Ballou, CFP With more consumers failing to keep, and maintain, a budget and with spending easier than ever with mobile payments, it is important for consumers to keep track of their income and what’s being spent. The ...

Seattle and San Jose saw the biggest declines in appreciation over the year, but Indianapolis and Atlanta accelerated. Home value appreciation was slower this December than it was a year ago in 19 of the 35 largest housing markets The typical U.S. home is worth $223,900, 7.6 percent more than it was a year ago The median rent increased 1.4 ...

The cryptocurrency market is huge with over 2,000 altcoins available across exchanges. Some of them are trying to improve upon the leaders like Bitcoin or Ethereum, while others aim to disrupt specific industries by bringing viable solutions. You have dozens of cryptocurrency exchanges to choose from, but finding the one that meets all your criteria can be tricky. It is ...

Two years after President Donald Trump ordered Keystone XL’s approval, the pipeline still isn’t built. Keystone XL has been held up in court after environmentalists sued to block its construction. Former President Barack Obama vetoed a bill authorizing Keystone XL in 2015 over global warming concerns. Two years ago President Donald Trump ordered his administration to move forward with the ...

A group representing electric utility companies is warning a federal court that a decision regarding coal ash dumps could lead to coal-fired power plants across the U.S. going offline and impacting grid reliability. The case regards a deadline for when power producers can close some of their coal ash dumps. The Trump administration last year gave utilities a deadline extension for ...

Most small businesses are “unaffected” by the federal government shutdown that is stretching into its fifth week, according to a poll from the Job Creators Network (JCN). JCN surveyed 427 of its members, all small business owners, from Jan. 16-22 and released the results Tuesday. JCN reported that 82 percent of small business owners have not noticed any impact on ...

Southern California Gas Co., a natural gas utility, issued a “Dial It Down” alert to customers Monday, asking them to limit natural gas use through Thursday while cold weather strikes. SoCal Gas asks customers to voluntarily turn down their thermostats and take shorter showers at various times throughout the winter when natural gas usage spikes. The notices, if heeded, may ...

In an interview on FOX Business Network’s (FBN) Mornings with Maria (weekdays 6a-9a/ET), White House Council of Economic Advisers Chairman Kevin Hassett told anchor Maria Bartiromo that his recent PBS NewsHour interview was so heavily edited that it created a completely false narrative about him. “[PBS] NewsHour people cut it to make me look as awful as possible,” Hassett told Bartiromo. “Made ...

President Donald Trump credited his tariff policy as the reason for China’s slumping economy and is pressuring them to quit “playing around” and reach a final deal on trade. China posts slowest economic numbers since 1990 due to U.S. trade tensions and new policies. Makes so much sense for China to finally do a Real Deal, and stop playing around! ...

China’s economy slowed dramatically during 2018, dropping to its lowest point in nearly 30 years as the communist country continues battling a prolonged tariff fight against U.S. President Donald Trump. The 6.6 percent growth rate reported Monday is the slowest annual pace China has recorded since 1990. The downturn deepened in the final months of 2018, suggesting the Trump administration’s ...