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Money & The Economy

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‘Oh the Humanity’: Jim Beam Bourbon Warehouse Continues To Burn In Kentucky

A fire continues to burn at a Jim Beam warehouse in Kentucky containing 45,000 barrels of bourbon after catching fire Tuesday night, officials say. The fire started Tuesday around 11:30 at two bourbon aging warehouses at the Jim Beam facility in Woodford County, Kentucky, the Louisville Courier-Journal reported. Firefighters were able to contain one of the warehouse fires, but the ...

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Trump Effect: June Manufacturing Economic Activity Continues Expansion in June

Workers at New Balance

Economic activity in the manufacturing sector expanded in June, and the overall economy grew for the 122nd consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®. The report was issued today by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee: “The June PMI® registered 51.7 percent, a decrease of 0.4 percentage point from the May ...

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China, America And Europe See Market Growth After Trump Reaches Trade Deal With Xi, Huawei

Donald Trump success

Chinese tech giant Huawei and its American suppliers saw their shares rise significantly on Monday following trade talks between Chinese President Xi Jinping and U.S. President Donald Trump. Shares for Foxconn, a manufacturing company that makes smartphones for disgraced technology company Huawei, jumped 1.6% Monday in Taiwan. Foxconn Industrial Internet, a subsidiary that partners with Huawei, rose to the maximum ...

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DOJ Expands Probe Of Boeing 737 MAX To 787 Dreamliner: Report

The Department of Justice reportedly expanded its probe of the Boeing 737 MAX to the aircraft manufacturer’s behemoth 787 Dreamliner model, according to The Seattle Times Friday. The subpoenas were issued to individual employees at Boeing 787 Dreamliner plant in South Carolina in early June, an unnamed source familiar with the investigation told The Seattle Times. Two other sources familiar ...

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Chick-Fil-A Wins Top Spot In American Customer Satisfaction Survey For 4th Straight Year

Chick-fil-A was named the most popular fast-food chain for the fourth consecutive year in a 2018-2019 American Customer Satisfaction Index report. On a customer satisfaction scale of 100 points, which is based on the input of nearly 23,000 individual customers, the fried chicken restaurant earned 87 points in 2018 and 86 in 2019. Panera Bread received the second-highest score with ...

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Trump Effect: U.S. Housing Market Outlook Hits Highest Mark in Three Years

Donald Trump success

Trump’s economic policies have brought about solid job growth and strong household formation The latest Health of Housing Markets Report (HoHM Report) from Nationwide Economics sees increasingly positive, sustainable trends for the housing sector for at least the next year. “Economic figures from early in the year were probably negatively affected by the government shutdown as well as the impacts of higher ...

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Will The Philadelphia Refinery Explosion Send Gas Prices Skyrocketing? Experts Weigh In

Explosions at the Philadelphia Energy Solutions (PES) refinery, the largest on the East Coast, sent gasoline futures soaring, but experts say it’s still too early to know the full effects of the incident. “It is too early to know the full impact the fire at the PES facility will have on summer gas prices and for how long for East ...

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Existing-Home Sales Rise 2.5% in May

Existing-home sales rebounded in May, recording an increase in sales for the first time in two months, according to the National Association of Realtors®. Each of the four major U.S. regions saw a growth in sales, with the Northeast experiencing the biggest surge last month. May 2019 Existing Home Sales Total existing-home sales1, https://www.nar.realtor/existing-home-sales, completed transactions that include single-family homes, townhomes, condominiums ...

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Airlines see more complaints, delays, late arrivals and mishandled luggage in April

WASHINGTON – The U.S. Department of Transportation (DOT) today released its June 2019 Air Travel Consumer Report (ATCR) on reporting marketing and operating air carrier data compiled for the month of April 2019. April On-Time Performance In April 2019, reporting marketing carriers posted an on-time arrival rate of 79.8%, down from both the 80.9% on-time rate in March 2019 and from 81.3% ...

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Mexico Ratifies Trump’s Trade Agreement

Donald Trump success

The Mexico Senate overwhelmingly voted to ratify the United States-Mexico-Canada Agreement (USMCA) Wednesday, making them the first country to approve the deal. The USMCA was previously a signed but not yet ratified free trade treaty between the U.S., Mexico and Canada. It was signed November 30, 2018 but was not ratified by any country until Wednesday. The USMCA replaces the ...

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Facebook Partners With Mastercard, Visa, Uber And More In Plan To Create Financial System

Facebook is partnering with 27 companies in an effort to create a financial system that relies on a cryptocurrency called Libra. The social media giant plans to begin its cryptocurrency program — which has been in the works for months — by 2020. Facebook is also expected to have 100 partners by that time, The New York Times reported Tuesday. ...

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US Reliance On OPEC Oil Hits 30-Year Low

U.S. crude oil imports from the Saudi Arabian-led Organization of the Petroleum Exporting Countries (OPEC) fell to a 30-year low, according to the latest federal figures. OPEC imports fell to 1.5 million barrels per day in March 2019, which is the lowest level since March 1986, the U.S. Energy Information Administration reported Thursday. EIA said OPEC imports fell “as domestic ...

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Google And Other Big Tech Giants Are Bailing On China As Trump’s Tariffs Take Hold

Google is moving technology out of China as the Silicon Valley company seeks to avoid pain from U.S. tariffs and a hostile Beijing, Bloomberg reported Tuesday night. Google is shifting production of server hardware out of the communist nation and moving motherboards to Taiwan, as the company tries to avert pain from a 25% tariff, the report notes, citing anonymous ...

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Vietnam Says Some Chinese Exporters Are Using Fake ‘Made-In-Vietnam’ Labels To Avoid US Tariffs

Some Chinese exporters are putting fake “Made in Vietnam” stickers to try and avoid the U.S. tariffs, Vietnam alleged on Sunday. Vietnam said in a government statement that they have found dozens of cases where Chinese exports, including textiles, iron, steel, and aluminum, are being illegally transferred to Vietnam where fake stickers are then placed so that China can skirt the recent ...

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May Jobs Report: 75,000 Jobs Added, Unemployment Remains at 3.6 Percent

The U.S. economy added 75,000 jobs in May while the unemployment rate remained at 3.6 percent, according to Department of Labor data released Friday. Economists predicted 180,000 jobs would be added and that wage growth would rise to about 3.2%, according to The Wall Street Journal. Jobs numbers for April were revised down from 263,000 to 75,000, according to the ...

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