China reported its largest-ever annual trade surplus with the U.S. last year while its overall imbalance with the world shrank, potentially strengthening the Trump administration’s case for tougher penalties and other trade actions against Beijing. A global recovery led by the U.S. provided a shot in the arm for Chinese exporters last year, boosting China’s […]
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Treasury and IRS Release New Guidance on Tax Withholding…
The IRS and Treasury Department on Thursday issued new guidance on tax withholding from employees’ paychecks, a key step in its implementation of the new tax law that President Trump signed last month. The new guidance will allow many taxpayers to start seeing bigger paychecks due to the new law. The IRS is instructing employers […]
Walmart Closes 63 Sam’s Clubs After Announcing Bonuses Attributed to Tax Cuts…
Walmart is shuttering 63 Sam’s Club stores around the country, an announcement that came shortly after the company said it would be rewarding its employees with up to $1,000 in bonuses because of the new tax cuts that were just signed into law. Some of the stores were closed Thursday, including several in the Houston […]
Trump Administration Waives Punishment For Convicted Banks, Including Deutsche — Which Trump Owes Millions…
The Trump administration has waived part of the punishment for five megabanks whose affiliates were convicted and fined for manipulating global interest rates. One of the Trump administration waivers was granted to Deutsche Bank — which is owed at least $130 million by President Donald Trump and his business empire, and has also been fined […]
China Weighs Slowing or Halting Purchases of U.S. Treasuries…
China added to bond investors’ jitters on Wednesday as traders braced for what they feared could be the end of a three-decade bull market. Senior government officials in Beijing reviewing the nation’s foreign-exchange holdings have recommended slowing or halting purchases of U.S. Treasuries, according to people familiar with the matter. The news comes as global […]
Brinks Reports Theft of Mysterious $11 Million International Gold Shipment…
Over the past year, we reported several brazen, and very significant, gold thefts, usually occurring in broad daylight, among which” – Massive 100 Kilogram Gold Coin Worth $4.5 Million Stolen From German Museum; Man Steals $1.6 Million Bucket Full Of Gold In Midtown Manhattan In Broad Daylight; “Seems Like An Inside Job” – Brazen Thief […]
The Real Future of Work…
In 2013, Diana Borland and 129 of her colleagues filed into an auditorium at the University of Pittsburgh Medical Center. Borland had worked there for the past 13 years as a medical transcriptionist, typing up doctors’ audio recordings into written reports. The hospital occasionally held meetings in the auditorium, so it seemed like any other […]
Why 2018 Will Be a Banner Year for Worker Wages…
The wealthy will see too much of the new tax cuts — but workers will benefit, too. The liberal media has been replete with pronouncements that the Trump tax cuts are a giveaway to the top 1 percent and provide only meager benefits to working-class households. Trump’s economic advisers, by contrast, claim the new law […]
Report: 10% of Amazon Employees in Ohio Are on Food Stamps…
A new report claims that ten percent of Amazon’s Ohio workforce is receiving food stamps. The Columbus Dispatch reports that Amazon has made the list of huge companies where workers are still forced to claim food stamps after a new report revealed that ten percent of the companies workforce in Ohio have been claiming federal […]
Food Stamp Recipients Down 2M Under Trump, USDA Figures Show…
Since Donald Trump became president, the Dow Jones industrial average has climbed to 25,000 and fewer Americans are unemployed. Another interesting fact: The number of people collecting food stamps has declined by more than two million. Data released by the Department of Agriculture show that the number of participants in the Supplemental Nutrition Assistance Program […]
Over 100 Companies Giving ‘Trump Bonuses’ After Tax Victory, ‘Tsunami Building’…
The number of companies offering employee bonuses, pay hikes, and increases in benefits in reaction to President Trump’s December tax reform victory is now over 100, with thousands of workers impacted and charities too. Less than a day after Americans for Tax Reform put out an initial list of 40, it jumped to 52 as […]
Trump Administration to Open 90% of U.S. Offshore to Leasing and Roll Back Obama-Era Drilling Regulations…
The plan is to open almost everything in the 2019-2024 OCS Oil and Gas Leasing Program, with Eastern Gulf leasing beginning when the Congressional moratorium expires after 2022…
Unemployment Rate for Black Americans Hits Record Low…
The unemployment rate for black Americans hit a record low of 6.8 percent in December, which is the lowest level seen in the history of the data, CNN reported. “It marks a swift comeback for black workers, who suffered through extremely high unemployment during the Great Recession,” the article states. “Black unemployment peaked at 16.8 […]
Where the Jobs Were in December: Who’s Hiring… And Who Isn’t…
December was expected to be a weaker month than October and November, as a result of the double-whammy of the post-hurricane rebound ending and an adverse winter storm effect, but virtually nobody on Wall Street expected the 3-sigma outlier December payrolls report to be as poor as it was. So which sectors were responsible for […]
U.S. Department of Labor Announces Proposal to Expand Access to Healthcare Through Small Business Health Plans…
The U.S. Department of Labor today announced a Notice of Proposed Rulemaking to expand the opportunity to offer employment-based health insurance to small businesses through Small Business Health Plans, also known as Association Health Plans. Up to 11 million Americans working for small businesses/sole proprietors and their families lack employer-sponsored insurance. These 11 million Americans […]
Dow 25,000 Powered by Fastest 1,000-Point Advance Ever…
The Dow Jones Industrial Average closed above 25,000 for the first time in history Thursday. It took a mere 23 days for the Dow to jump from 24,000 to its latest milestone. This is the shortest stretch between 1,000 point milestones ever. All three major indexes closed in record territory. The Dow Jones Industrial Average […]
Macy’s Announces 5,000 Job Cuts, Closure of 7 More Stores; Stock Tumbles…
The Amazon juggernaut continues to crush brick and mortar retailers. On Thursday morning, former retail giant Macy’s, announced that was preparing to fire 5,000 job cuts, including closure of seven previously unidentified stores and other cuts at remaining locations, as it seeks stability in a tumultuous climate for “physical retail.” The retailer’s cost reductions come […]
Fascinating Stuff that Won’t Be in Former FBI Director James Comey’s Book…
The former FBI Director, James Comey, is set to release his new book, A Higher Loyalty: Truth, Lies, and Leadership on May 1. It is anticipated that it will provide titillating details from his career in public service, notably his career as FBI Director that ended abruptly on May 9 of last year when Comey […]
Anatomy of a Crypto-Nightmare: Ripple CEO Is Now Richer Than Zuckerberg…
Having soared 36,000% last year and continuing its crazy run in 2018…Ripple has surged ahead of Ethereum as the second-largest cryptocurrency by market cap: Bitcoin $246BN, Ripple $143BN, Ethereum $97BN. Leaving Mike Novogratz breathlessly berating the craziness..as Ripple’s CEO is now the 5th richest man in the world…
Manufacturing in the U.S. Just Accelerated to Its Best Year Since 2004…
U.S. manufacturing expanded in December at the fastest pace in three months, as gains in orders and production capped the strongest year for factories since 2004, the Institute for Supply Management said Wednesday. The survey-based measure of factory activity — the year’s second-highest behind September, when storm-related supply delays boosted the index — brings the […]
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