Cryptocurrency News: Bitcoin, Ethereum lower Thursday; Robinhood stock jumps on move to repurchase shares held by former FTX CEO Sam Bankman-Fried
The number of Americans filing new claims for unemployment benefits increased more than expected last week, but remained at levels consistent with a tight labor market. Initial claims for state unemployment benefits rose 13,000 to a seasonally adjusted 196,000 for the week ended Feb. 4, the Labor Department said on Thursday. According to an Institute for Supply Management survey last Friday, some services businesses in January reported they were "unable to hire qualified labor," saying that "supply is thin."
Monetary tightening is like pulling a brick across a rough table with a piece of elastic. Central banks tug and tug: nothing happens. They tug again: the brick leaps off the surface into their faces.
Of the 50 U.S. states, 39 and the District of Columbia do not levy a tax on Social Security benefits.
Prices for online goods in the United States fell 1% in January compared to the year before, the fifth consecutive monthly drop, according to new data that offered evidence of the momentum Federal Reserve officials see lowering overall inflation. Adobe's Digital Price Index (DPI), structured around the same categories of goods in the U.S. Labor Department's Consumer Price Index (CPI), rose on a month-to-month basis from December to January as a result of steep holiday discounting. Patrick Brown, vice president of growth marketing and insights at Adobe, said he felt competition for online sales as well as the impact of inflation on consumers would continue to be felt.
The funds look pricey, but the short-term outlook depends on the economy and the pace of the Russia-Ukraine war.
President Biden is urging lawmakers to pass a tax proposal that would raise taxes on the top 0.01%.
The company lost $1.4 billion in 2017’s NotPetya attack, which has been linked to Russia, but insurers are fighting in court to avoid paying.
(Bloomberg) -- JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the Federal Reserve may need to lift its benchmark interest rate above 5%, Reuters reported, after a slew of central bank officials stressed the need to keep hiking. Most Read from BloombergMeta Asks Many Managers to Get Back to Making Things or LeaveGeorge Santos Gets Into Fight With Mitt Romney at State of the Union DebutChinese Balloon Was Part of Years-Long Spying Program, US SaysDeSantis Chides Trump as Republicans
Fix Social Security? When both political parties are finally forced to get together and act like grownups rather than snitty children, we’ll end up with fixes that will likely both increase the program’s revenues and probably reduce its future costs, as well. Here's what they might be.
Restaurants, hotels and hospitals are finally staffing up, more than making up for losses in tech and other sectors. “Knock on wood, things are running like they were before the pandemic,” said one restaurant executive.
Guidance expected this week from the Internal Revenue Service on the taxability of state stimulus checks threatens to disrupt this tax season.
(Bloomberg) -- Federal Reserve Bank of New York President John Williams said forecasts officials submitted in December are still a good guide for where interest rates are headed this year and that policy may need to stay at restrictive levels for a few years to get inflation down.Most Read from BloombergMeta Asks Many Managers to Get Back to Making Things or LeaveGeorge Santos Gets Into Fight With Mitt Romney at State of the Union DebutDeSantis Chides Trump as Republicans’ 2024 Presidential Race
Critics said the $800-million green hydrogen plan could end up making the climate crisis worse, not better.
SPRING HILL, Tenn. (Reuters) -U.S. Treasury Secretary Janet Yellen touted clean energy investments on Wednesday at a Tennessee electric vehicle battery plant benefiting from tax incentives in President Joe Biden's signature climate legislation, adding that she supports Europe's plans for competing subsidies. Yellen told reporters at the Ultium Cells LLC factory under construction near Nashville that the United States and Europe needed to work together to lessen their dependence on China for EV batteries and critical minerals.
Foresight Autonomous Holdings Ltd. (NASDAQ and TASE: FRSX) (“Foresight” or the “Company”), an innovator in automotive vision, announces today that its wholly owned subsidiary, Foresight Changzhou A...
Growing up, I used to watch a sportscaster whose catchphrase was “Let’s go to the videotape!” And then he’d show a monster home run, touchdown pass or slam dunk. During his State of the Union address, President Biden taunted Republicans for saying they want to cut Social Security and Medicare—even “sunset” it every five years, meaning that if lawmakers didn’t vote to keep the programs, they would sunset—vanish. Republicans were outraged.
Federal Reserve Chair Jerome Powell spoke Tuesday at the Economic Club of Washington, D.C. and broadly reiterated his view on future policy offered to investors after last week's interest rate hike.
NEW YORK (Reuters) -Hyundai Motor Co said it is in talks with the U.S. Department of Labor to resolve concerns about child workers in its U.S. supply chain, and the company is taking corrective actions after a Reuters investigation found children as young as 12 working in hazard-laden Alabama factories linked to the automotive giant. In a statement late Tuesday, Hyundai told Reuters it has held a series of discussions with the Labor Department, which has been investigating a Hyundai subsidiary in Alabama and other parts suppliers to the automaker, and its sister brand Kia Corp, for potential child labor violations.