Economy

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Updated: 1 week 6 days ago

Is U.S. Auto Sales Heading Towards another Year of Record Sales? Economists Differ in Their Opinion

Wed, 08/03/2016 - 07:45

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In July, the automotive industry's bubbling sales numbers cooled down. Economists are confused and differ in their opinion, regarding, whether that signals at another record year or staggering sales at the edge of a slump.

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Fed Signals Gradual Rate Hike; Asian Currencies Won and Ringgit Gain on Weaker Dollar

Thu, 07/28/2016 - 09:15

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Among the Asian currencies, the Korean Won and the Malaysian Ringgit gained vs. the dollar following news that the Federal Reserve plans to adopt a gradual pace in tightening the monetary policy in the country.

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Demand for Treasury’s Auction Weak as Traders Expect an Interest Hike this Year

Tue, 07/26/2016 - 09:15

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The U.S Treasury's auction of two-year notes failed to generate expected steam as demand remained the lowest since 2008. It resulted mostly because bond traders bet that this week, Federal Reserve policy makers will admit there are signs of economic strength which has a direct relation to the Federal Reserve's consideration of an increase in the interest rate this year.

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Chinese Currency Faces Increasing Pressure

Mon, 07/25/2016 - 08:46

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The Chinese government is putting in efforts to stabilize the currency markets. The central bank of the country adding verbal support to the exchange rate following a drop in the currency's value in the past week against the green back to point that was lower than a key level.

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China’s Economic Growth in the Second Quarter Remains Steady but not without a Price

Sun, 07/24/2016 - 05:42

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In the second quarter, growth in China's economy remained almost at level with the first quarter but to keep the growth rate steady, the economy is paying a heavy price with a strong pace of credit creation.

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Unemployment Rate in California Climbs for First Time in Almost Six Years

Sat, 07/23/2016 - 08:54

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The unemployment rate in California is on the rise. After May's 5.2 percent the unemployment rate in the state climbed to 5.4 percent in June. According to the Employment Development Department, increase in unemployment rate was noted for the first time in about six years.

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Anti-Hillary merchandise on sale in Cleveland

Fri, 07/22/2016 - 12:15

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A range of cheap, privately made anti- Hillary Clinton merchandise including caps, t-shorts, badges are being sold in the city of Cleveland, which hosted the Republican National Convention.

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Citigroup’s Second Quarter Beats Earnings Expectations but a Drop Noted Compared to Last Year

Sat, 07/16/2016 - 07:22

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Manhattan based Citigroup Inc., the multinational investment banking and financial services corporation reported a lower level of profit and revenue in Q2 as compared to last year.

However, most investors were happy with the not so bad results considering that it is a bank which still has work in progress.

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Data from June Quarter Signals at Stabilizing Economy in China with Growth in Spending

Fri, 07/15/2016 - 07:59

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A brighter spot was noticed in China's economy with reports showing that lending and consumer spending in the country moved up in the latter half of the June quarter. That signals at the success of stepped up monetary and fiscal policy by the Chinese government.

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Recent Report Shows Tightening Labor Market and Modest Economic Growth

Thu, 07/14/2016 - 08:02

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A report from the Federal Reserve on Wednesday showed that the U.S. economy up ticked modestly by the end of May and June. The growth was supported by the housing market and the manufacturing sector also showed some improvement.

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Big Banks are Expected to Report Lower Earnings Owing to Low Interest Rates and Brexit Effect

Wed, 07/13/2016 - 07:40

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This week, the big U.S banks will begin to report their second quarter earnings.  JPMorgan Chase will start the chain of bank earnings report. In the reports, the market will search for clues about how the industry has been affected by 'Brexit' and the shifts in the global economy.

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Illinois Announces Construction of Public-Private Toll Bridge Project linking I-80 to CenterPoint

Tue, 07/12/2016 - 08:03

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It came as a pleasant surprise but Illinois is entering the private toll bridge business.

The state has given consent to build a new toll bridge that will link Interstate 80 to the CenterPoint intermodal facility in Joliet and Elwood.

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Employment Data for June Reflects Strengthening Economy in the U.S.

Sat, 07/09/2016 - 08:22

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After unexpectedly poor U. S. employment report in May, June's employment data released was a welcome change. The strong numbers indicated that the job market is gaining strength. It seems as if the May data was just a seasonal fluke.

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Justice Department Turns to Court to Force Facebook to Hand Over Requested Tax Documents

Fri, 07/08/2016 - 09:02

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On Wednesday, the Internal Revenue Service sued Facebook Inc. in order to force the company to hand over documents connected to transfer of assets to Ireland Holdings Unlimited in 2010.

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Minutes of Fed’s June Meeting Suggests Interest Rate Increase on Hold Till Effect of ‘Brexit’ Gets Clearer

Thu, 07/07/2016 - 08:49

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Minutes of the meeting, which the Federal Reserve policymakers had on June 14-15, was released on Wednesday. It shows that the Fed policymakers feel, the interest rate increase should not be initiated right now till they get a clear idea about the effects of Britain's vote to exit the EU.

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Next its Italy to go on Poll for Constitutional Reforms

Tue, 07/05/2016 - 09:12

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Entire Europe as well as the global economy is still waiting for the total riffle effect of United Kingdom's decision to exit the EU and already news of another referendum from an EU member nation is coming up.

 

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It’s too Early to Comment how Exactly U.K.’s Brexit Vote will affect the American Economy

Tue, 07/05/2016 - 08:49

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Stanley Fischer, Vice Chairman of the Federal Reserve is not right now making any straight forward comments on how exactly he thinks the U. K.'s referendum to exit the EU will affect the American economy.

 

Already, drop in mortgage interest rates have surfaced which lead to speculations on the Brexit effect but Fischer seems to be taking the wait and watch attitude.

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Seniors who are Expecting Social Security Benefits to Increase in 2017; Don’t Hope for Too Much

Mon, 07/04/2016 - 07:03

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For millions of Americans Social Security benefits mean a lot. According to dada, till April 2016, there are 60 million or more recipients who get monthly Social Security benefits. Among them, about 40.5 million are retired workers of whom; nine out of ten rely on Social Security to help them meet monthly expenses.

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Federal Jury Awards $27 million in Defamation Lawsuit to Allstate’s Employees Fired in 2009

Sun, 07/03/2016 - 06:16

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A federal jury has awarded four ex- employees of Allstate Insurance Co greater than $27 million in a defamation lawsuit against the Northbrook, Illinois based insurance company.

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Does Brexit Actually Mean a New Sovereign United Kingdom or could it Create a Little England

Fri, 07/01/2016 - 08:27

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Unity never comes easy and 'Brexit' may well be taken as an example. The European Union was born as a result of the World War II and after about seven decades of the post-war era now Britain wants to beak way from the twenty eight member bloc. But, with the country's exit, Britain is not the only one to face the consequences. As a whole, E. U. is facing an existential crisis.

 

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