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Carnival Cruise Lines Hit with $20 Million Penalty for Environmental Crimes…

A $20 million fine isn’t even a slap on the wrist for Carnival. On revenue of $18.8 billion, I wonder, in which column on their spreadsheet this will go? Chicken Feed? Pocket Lint? F-U-We’ll-Do-It-Again? Via: NPR: The cruise line giant Carnival Corporation and its Princess subsidiary have agreed to pay a criminal penalty of $20 […]

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Mexico Readies List of U.S. Products for Retaliation If Trump Levies Tariffs…

Mexican President Andrés Manuel López Obrador has received a list of U.S. products that his country would slap with tariffs if President Trump follows through with his threat to impose tariffs on Mexican goods starting Monday. The list indicates that Mexico could retaliate swiftly if the tariffs are implemented, as Trump said Wednesday was likely. […]

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The “Big Club” Fights Back Against Trump Tariffs – Senate Republicans, Paid by U.S. CoC, Prepare to Mount Assault…

CTH has been fully immersed in the battle against the Chamber of Commerce Decepticons for so long we have to be careful of our language. This battle is the heart of Wall Street’s war against MAGA Main Street. Republican senators from Mitch McConnell’s ‘decepticon caucus’ are now warning President Trump they will fully engage in […]

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Chinese Goods Navigate Alternate Trade Routes to Avoid Tariff Charges…

Higher U.S. tariffs from the trade war with China are altering patterns of world trade as exporters use third countries to bypass the duties, data reveals. Chinese exports to the U.S. tumbled by $15.2 billion, or 12%, in the January-March quarter of 2019 on a year-on-year basis. But an analysis conducted by Nikkei showed that […]

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Facebook, Google Regulatory Woes Erode $137 Billion From FANGs…

A wave of antitrust probe headlines on Facebook Inc. and Google parent Alphabet Inc. just yanked about $137 billion from FANG stocks’ market values. Some $41 billion evaporated from Facebook on Monday as a person familiar with the matter said the U.S. Federal Trade Commission will oversee antitrust scrutiny into whether the firm’s practices harm […]

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Malaysian PM Mahathir Proposes New Regional Currency Based on Gold…

Malaysian Prime Minister Mahathir Mohamad on Thursday (May 30) proposed to create a new “special currency” for the region based on gold, replacing the existing currency trading regime. Speaking at a dialogue session at the 25th International Conference on The Future of Asia (Nikkei Conference), he claimed that a regional currency based on gold would […]

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Personal Income Posted Solid Gains in April, Beating Forecasts…

The Bureau of Economic Analysis (BEA) said personal income gains beat the consensus forecast in April, rising $92.8 billion (0.5%). The reflected increases were fueled by personal interest income, wages and salaries, and government social benefits to persons. Disposable personal income (DPI) rose $69.3 billion (0.4%) and personal consumption expenditures (PCE) gained $40.8 billion (0.3%). […]

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Pence: Trump ‘Ready to Go’ on U.S.-Mexico-Canada Trade Deal…

U.S. Vice President Mike Pence believes that the agreement between the United States, Mexico and Canada (USMCA) will pass if it’s brought to Congress, he told FOX Business during an exclusive interview on Thursday. “We are, in discussions as we speak,” he told Maria Bartiromo. “The U.S. trade rep will be on Capitol Hill when […]

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Does China Have Enough U.S. Dollars to Survive the Trade U.S. Trade War…

The Chinese government is officially sitting on the world’s largest stockpile of foreign exchange reserves, but it has been scrambling recently to block backchannels for capital outflows as trade tensions with the United States increase. Beijing’s increasing scrutiny of the usage of the US dollar by Chinese companies and individuals, in the absence of any […]

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Oil Falls 4 Percent as Trump Allows Some Countries to Import More Iranian Oil…

Oil prices fell close to 4 percent to their lowest in more than two months on May 30 as the administration of President Donald Trump said it’s allowing several countries to import some more Iranian oil without triggering U.S. sanctions. Upon the news, Brent Crude, the leading oil futures index, fell about $2.6, or about […]

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Struggling Millennials Are Poorest Generation Since WWII…

Millennials have felt more financial strain than any other generation since the Great Depression. Despite a decade of economic growth and decreasing unemployment, Americans born between 1981 and 1996 have less wealth and property, lower marriage rates, and fewer children, according to new data. “Their economic fundamentals are fundamentally different,” Christopher Kurz, an economist at […]

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Bankers Groups Urge Senate to Advance Marijuana Reform…

Bankers associations for 50 states and Puerto Rico signed a letter Monday asking senators to consider letting financial institutions legally work with state-legal marijuana businesses. “The undersigned state bankers associations, which represent banks of all sizes, write to urge the Senate Banking, Housing and Urban Affairs Committee to conduct hearings on the merits of providing […]

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Xi Jinping Tells China to Prepare for Long Trade War with U.S….

Chinese President Xi Jinping, in his first domestic tour since a trade war broke out with the Trump administration, has told his people that they should be prepared for a long battle with the US. “We are here at the starting point of the Long March to remember the time when the Red Army began […]

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Bill Would Stop Government From Paying Dead People…Not Kidding…

A bill introduced in the Senate last week would stop the federal government from paying dead people. The bipartisan Stopping Improper Payments to Deceased People Act, introduced by Sens. John Kennedy, R-La., and Tom Carper, D-Del., comes in response to several inspector general audits detailing how the Social Security Administration paid more than $40 million […]

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Chicago Becomes First Major City to Collect ‘Netflix tax’…

Chicago is the first major city to collect what’s dubbed the “Netflix tax.” The Windy City has raked in $2 million after imposing a 9 percent tax on companies like Sony and Fandango. The four-year old tax whose name comes from targetting streaming entertainment services is gaining attention from other cities and states. “This is […]

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President Trump Announces Deal with Canada, Mexico to End Steel and Aluminum Tariffs…

President Donald Trump announced an agreement with Canada and Mexico to remove U.S. tariffs on steel and aluminum imports, as he again blasted reporting on his administration’s Iran policy. Speaking in Washington at a National Association of Realtors conference, Trump said the U.S. had “just reached an agreement with Canada and Mexico.” The agreement to […]

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As Regulators Squirm in their Seats at Hearing, JPMorgan and Citigroup Get Slapped with More Rigging Charges by EU…

At a House Financial Services Committee hearing yesterday, Republicans attempted to marshal arguments for why U.S. banks needed more relief from regulatory oversight. Those arguments weren’t helped by the news of the day. As the hearing got underway, headlines were being promulgated around the globe that JPMorgan Chase, Citigroup and three foreign banks had been […]

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