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Economy

“Federal Spending Tops $3 Trillion Through May for First Time; Deficit Hits $738 Billion”

“For the first time in the history of the United States, the federal government has spent more than $3 trillion in the first eight months of the fiscal year, according to the Monthly Treasury Statement released today. The record $3,013,541,000,000 that… Continue Reading…

Economy, Stocks

“The stock market is closing in on its all-time high. Here’s what could clinch it”

“Stocks have rallied on expectations that the Fed should be cutting interest rates in the near future, and that President Donald Trump would stand down from his threat to put tariffs on Mexico, as he did on Friday. The Dow Jones… Continue Reading…

Economy

“IMF bullish on US economy, but warns of trade war wildcard”

“The International Monetary Fund on Thursday raised its economic growth assessment for the U.S.Opens a New Window. this year, but warned that escalating global trade disputes could pose a threat to that outlook. In an overarching review of the U.S. economy, the… Continue Reading…

Economy

“These states have the best economies in the US: study”

“1. Washington2. Utah3. Massachusetts4. California5. Colorado6. District of Columbia7. Idaho8. Oregon9. New Hampshire10. North Carolina” https://www.foxbusiness.com/economy/top-10-best-state-economies-study

Business

“Fiat Chrysler and Renault pursue $35 billion merger…”

“Fiat Chrysler pitched a finely balanced merger of equals to Renault on Monday to tackle the costs of far-reaching technological and regulatory changes by creating the world’s third-biggest automaker… Shares in both companies jumped more than 10 percent as investors… Continue Reading…

Economy

“JP Morgan slashes second-quarter GDP forecast to just 1%”

“J.P. Morgan economists said they now see much slower second-quarter growth of just 1%, down from their prior forecast of 2.25% and way off the 3.2% reported in the first quarter. “The April durable goods report was bad, particularly the details relating… Continue Reading…

Economy

“America’s largest cities drowning in debt, with Chicago leading the way, study finds”

“The two cities with the highest burden: Chicago and New York City; Chicago’s combined taxpayer burden: $119,110; New York City’s combined taxpayer burden: $85,600… Chicago’s combined Taxpayer Burden: $119,110 New York City’s combined Taxpayer Burden: $85,600 Los Angeles’ combined Taxpayer… Continue Reading…

Economy, Stocks

“China retaliates on tariffs, stock markets go into a slide”

“Sending Wall Street into a slide, China announced higher tariffs Monday on $60 billion worth of American goods in retaliation for President Donald Trump’s latest penalties on Chinese products. Duties of 5% to 25% will take effect on June 1… Continue Reading…

Business, Economy

“Cash is still king: San Francisco bans credit-only stores”

“San Francisco officials voted Tuesday to require brick-and-mortar retailers to take cash as payment, joining Philadelphia and New Jersey in banning a growing paperless practice that critics say discriminates against low-income people who may not have access to credit cards… Brown said… Continue Reading…

Business, Economy

“Private payrolls surge by 275,000 in April, blowing past estimates in biggest gain since July”

…Services-providing jobs increased by 223,000 in April, led by a gain of 59,000 positions in professional and business services. Education and health services companies added 54,000 jobs while employment within the leisure and hospitality industry expanded by 53,000. Goods-producing jobs… Continue Reading…