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Money & The Economy

News on Finance, Money, markets and the economy

Nissan To Cut 12,500 Jobs Due to Declining Profits

Nissan Motor Company announced plans Thursday to cut 12,500 jobs, about 9% of its workforce, amid dramatically declining profits. The Japanese automaker also announced it will cut global production capacity and model lineups at least 10% by the end of fiscal year 2022, the Associated Press reported. “Our situation right now is extremely severe,” Nissan CEO Hiroto Saikawa told reporters ...

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Report: Home Prices up 3.4% in June as Supply Flattens

Home for sale

U.S. home-sale prices rose for the third consecutive month in June, growing 3.4 percent year over year to a median of $321,200, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. June’s price-growth rate was on par with the May rate and was down from a 5.5 percent year-over-year gain in June 2018. Only six of the 85 largest metro ...

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Watch: Why Can’t America Fill a Pothole?

Why can’t America build or repair infrastructure on a par with countries in Europe or Asia? Why are our bridges, roads, and airports not what they should be? Aren’t we the richest and most technologically savvy country in the world? Who or what is holding us back? Kyle Smith of National Review has the surprising (and frustrating) answer. Watch: Transcript: ...

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Trump Effect: More Than 50 Companies — Including Apple — Rush To Pull Production Out Of China


More than 50 global companies including Apple, Nintendo and Dell are rushing to pull production out of China amid the country’s trade war with the United States. U.S., Japanese, Taiwanese and even Chinese manufacturers are moving out of the country in fear of a prolonged trade conflict, including those who make personal computers, smartphones and other electronics, Nikkei Asian Review ...

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Why Is AARP Sponsoring A Forum Letting Medicare For All Candidates Promote Ideas Harmful To It And Its Partners?

Every major Democratic presidential candidate is scheduled to make an appearance at AARP-sponsored health care forums in Iowa this week, yet many of them stand for dismantling the health care insurance system that AARP and its partners rely on. Rep. Tulsi Gabbard, Massachusetts Sen. Elizabeth Warren and, of course, Medicare for all architect Independent Vermont Sen. Bernie Sanders are a ...

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Amazon Employees Strike During Huge Sale

Amazon employees are going on strike during Prime Day, the company’s largest annual sale, to protest working conditions, corporate environmental policy and more. Amazon warehouse employees at a 2.3 million square foot fulfillment center in Shakopee, Minnesota, are striking for six hours Monday in an attempt to disrupt Prime Day and make a statement about working conditions, according to CBS ...

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Pablo Escobar’s Brother Says Elon Musk Ripped Him Off — Get Your Own Flamethrower

The brother of Colombian drug kingpin Pablo Escobar said Tesla CEO Elon Musk ripped off his idea for selling a commercial flamethrower. Roberto Escobar, brother and former accountant of the infamous drug lord, is selling his own version of a useable torch, according to a post on his website. Now he’s giving Musk an ultimatum: pay him $100 million for ...

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China’s Factories Are Getting ‘Desperate’ Amid Trade Tensions With The US

The largest supplier of consumer goods in the world said Wednesday that China’s factories are becoming “desperate” as they struggle with the consequences of U.S. tariffs. Li & Fung Ltd, which designs and transports products for stores like Walmart, Kohl’s and Nike, is trying to move out of China as quickly as possible at the request of its American retailers, ...

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Trump Slams India’s Tariffs On American Products, Says Country Has Been Having A ‘Field Day’

President Donald Trump on Twitter Tuesday expressed his discontent with India’s tariffs on U.S. goods. India and the Trump administration have been engaged in a trade war for the past few months, after Trump complained of what appears to be one-way tariffs coming from the Hindu nation. “India has long had a field day putting Tariffs on American products. No ...

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Democrats’ $15 Minimum Wage Bill Would Eliminate 1.3 Million Jobs, CBO Finds

House Democrats’ proposal to raise the federal minimum wage to $15 per hour would most likely leave 1.3 million Americans jobless by 2025, according to a study released Monday by the nonpartisan Congressional Budget Office (CBO). Noting a “considerable uncertainty” about the impact a $15 per hour minimum wage would have on employment, the CBO estimated that “there is about ...

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FCC robocall ruling offers hope


Seniors may get robocall relief if a new Federal Communications Commission [FCC] ruling prompts phone companies to implement technologies that automatically block them. Dan Weber, an advocate for older Americans, says the ruling is a step in the right direction. The president of the Association of Mature American Citizens [AMAC] reports that “while it is still early days, it appears the ...

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June Jobs Report: 224,000 Jobs Added, Unemployment At 3.7 Percent

Donald Trump success

The U.S. economy added 224,000 jobs in June, while the unemployment rate slightly increased to 3.7  percent, according to Department of Labor data released Friday. Economists predicted 165,000 jobs would be added and that the unemployment rate would remain at about 3.6%, according to The Wall Street Journal. 224,000 jobs were added in June, according to the Bureau of Labor ...

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Food Expiration Dates Are a Conspiracy

Scott Nash is my hero this week. I’m so proud of him I might even spend some money in his out–of–the–way and somewhat expensive grocery store. Nash is the founder and CEO of Mom’s Organic Market and the Washington Post featured him this week. (That’s another breakthrough. Normally the WoePost only features victims – real or imagined – and their ...

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China is Losing the Trade War with Trump

Donald Trump success

China’s state-owned media might talk tough, but major tech companies are fleeing the country due to Beijing’s unfair trade practices, national security concerns, continued economic warfare with the United States and rising labor costs. (Related: Proof Trump is Winning the Trade War with China) The Nikkei Asian Review reported Wednesday that HP, Dell and Microsoft are joining Amazon, Google, Apple ...

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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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