Confirming the President’s concerns, U.S. Treasury Secretary Steven Mnuchin issued a warning to China over the recent weakness of its yuan currency on Friday, telling Reuters that the Treasury is closely monitoring the yuan for signs of manipulation. in an interview in Sao Paulo, Brazil, Mnuchin said “There’s no question that the weakening of the […]
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Jobless Claims Fall to the Lowest Level Since 1969…
New claims for unemployment benefits fell 8,000 to 207,000 in the second week of July, the Department of Labor reported Thursday morning, the lowest such number since 1969. Forecasters had expected new jobless claims to edge up to around 220,000. Instead, fewer people sought unemployment insurance than anytime in 48 years. Thursday’s benchmark is especially […]
CEO Rewards Work Ethic, Gives Car to Employee Who Walked 20 Miles to Work…
Bellhops Moving employee Walter Carr tells his story about how he walked almost 20 miles to work and was then given a car by Bellhops Moving CEO Luke Marklin for his efforts. Fox Business News host Charles Payne gets choked up as he discusses familiar rural work ethic of young Mr. Carr…
Comcast Backs Out of $65M Bid to Buy Fox…
Conceding to Disney, media giant Comcast said Thursday it will stop pursuing assets from 21st Century Fox to focus on battling Fox owner Rupert Murdoch in a bidding war for control of European group Sky, another media company in which Murdoch has ownership stakes. “Comcast does not intend to pursue further the acquisition of the […]
Yelling Breaks Out During Roundup Cancer Link Trial…
In a bid to discredit a Columbia University cancer expert who says Monsanto’s Roundup weed killer is carcinogenic, lawyers for the agrichemical giant accused him on Wednesday of lying under oath about the purported link between Roundup and cancer, in a contentious California jury trial over whether the weed killer caused a Bay Area man’s […]
Nomi Prins on the Banks That Run the World (Audio and Transcript)…
In this week’s episode of “Scheer Intelligence,” host and Truthdig Editor in Chief Robert Scheer talks with Nomi Prins about her latest and, in Scheer’s words, “most ambitious” book, “Collusion: How Central Bankers Rigged the World.” The two discuss the 2008 financial crisis and the disconnect between governments and the governed, as well as Prins’ […]
China Files WTO Challenge to U.S. $200B Tariff Plan…
China announced it filed a World Trade Organization challenge Monday to President Donald Trump’s latest tariff threat, stepping up its diplomatic efforts to counter U.S. pressure in a spiraling technology dispute. The Trump administration has criticized the WTO as unable to deal with the problems posed by China, suggesting a challenge there might have little […]
“Godfather of Payday Lending” Stripped of $64 Million, Sentenced to 14 Years…
A former Main Line investment banker known as the “Godfather of payday lending” for preying on low-income borrowers was sentenced Friday to 14 years in federal prison and stripped of over $64 million in assets, reports philly.com. Lawyers for 77-year-old Charles M. Hallinan argued that the prison term might as well be a “death sentence” […]
EU President Donald Tusk Threatens U.S. President Trump: “appreciate your allies, after all you don’t have that many”…
Stunningly confrontational remarks today from EU President Donald Tusk as U.S. President Trump and First Lady Melania arrive in Brussels for a NATO summit. After destroying nationalistic Brexit plans for the U.K. to exit the European Union, the insufferable arrogance of the EU surfaces with pontificating snark. The EU might feel emboldened right now, but […]
Trump Freezes Billions In Obamacare Payments, Outraging Insurers…
The Trump administration halted billions of dollars in payments to health insurers after the Centers for Medicare and Medicaid Services, the agency that administers programs under Obamacare, announced on Saturday it was freezing payments to insurers that cover sicker patients, saying a federal court ruling ties its hands. The move brought a sharp response from […]
HHS Secretary Alex Azar: New Round of Drug Price Hikes a ‘Tipping Point’…
President Trump’s top health official said “change is coming” to drug pricing in the wake of a new round of price hikes. Health and Human Services Secretary Alex Azar’s comments followed Trump’s tweet at Pfizer for raising drug prices last week on more than 40 products, more than a month after Trump said that drug […]
June Jobs Report: 213,000 Jobs Added, Economy Expanding, Blue Collar Gains Most Substantive…
The Bureau of Labor Statistics presents the latest snapshot of jobs and employment. According to the BLS data, behind the 213,000 jobs added, the most significant gains all center around growth in durable goods, manufacturing, transportation/distribution and the ancillary business services directly connected to the blue collar sector. In addition, April was revised up from […]
601 People Charged in Massive, $2B Healthcare Scam…
The Justice Department on Thursday announced its largest-ever healthcare fraud enforcement action, and charged 601 people, including 165 medical professions, for making false medical claims worth $2 billion, a quarter of which was related to opioids. “This is the most fraud, the most defendants, and the most doctors ever charged in a single operation — […]
GAO Report Shows Revenue States Could Gain from Expanded Internet Sales Tax Ruling…
Forty-five states and the District of Columbia levy taxes on the sale of goods and certain services, including those sold remotely, such as over the Internet. In 1992, the Supreme Court ruled in Quill v. North Dakota that a state can only require a business to collect and remit sales tax if the business has […]
Debt-Ridden Puerto Rico Releases Its Long-Awaited Financial Statements–Here’s What They Say…
Puerto Rico’s continued financial mismanagement led to a deficit of over $600 million in 2015, adding to the island territory’s ongoing debt crisis, according to the government’s long delayed and only recently released 2015 financial statements. The financial statements, released three years after the close of the 2015 fiscal year, show that Puerto Rico continued […]
The Central Banking Heist Has Put the World at Risk…
“The 2008 financial crisis was the consequence of a loosely regulated banking system in which power was concentrated in the hands of too limited a cast of speculators,” Nomi Prins tell me. “And after the crisis, the way the US government and the Federal Reserve dealt with this corrupt and criminal banking system was to […]
EU Threatens $300 Billion Retaliation If U.S. Moves Ahead With Auto Tariffs…
More than a week after President Trump threatened to slap a 20% tariff on auto imports from the European Union, Brussels has issued a written warning to the US Department of Commerce with a threat of its own: If the Trump administration moves ahead with the auto tariffs, the bureaucrats in Brussels won’t hesitate to […]
Canada Makes Retaliatory Tariffs Official: ‘We will not back down’…
Canada’s foreign minister announced Friday that Ottawa plans to impose about $12.6 billion worth of retaliatory tariffs on U.S. goods on July 1, joining other major U.S. allies striking back in the escalating trade dispute. The country is working closely with the European Union and Mexico, according to Foreign Minister Chrystia Freeland. “We will not […]
CFPB Settles with Citibank on Overcharging Credit Card Rates…
The Consumer Financial Protection Bureau said Friday that it had reached a settlement with Citibank over the bank’s overcharging of customers on credit card rates. The bank will avoid civil penalties, on the grounds that it first reported the problem to the bureau and took steps to remediate it. Instead, the CFPB required the bank […]
According to CNBC the Dow’s 31 Percent Gain During Trump’s First Year Is the Best Since FDR…
Donald Trump lifted the Dow Jones industrial average in his first year in office more than any other president since Franklin Roosevelt. The Dow has surged more than 31 percent since Trump’s inauguration on Jan. 20, 2017. That marks the index’s best performance during a president’s first year since Roosevelt. The Dow skyrocketed 96.5 percent […]
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