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Latest Articles: Business/Finance
Trump voter who uses Meals on Wheels surprised by proposed cuts
Post Date: 2017-03-19 09:38:37 by HAPPY2BME-4UM
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CBS News March 18, 2017One element of President Trump’s budget proposal could sharply reduce funding for Meals on Wheels, which delivers nearly a million meals a day to the sick and elderly.That’s where Meals on Wheels comes in: a critical lifeline for 2.4 million seniors, veterans and the disabled. A third of its $1.4 billion budget comes from the federal government, but proposed budget cuts are putting the 43-year-old program at risk.“We can’t spend money on programs just because they sound good… to take the federal money and give it to the states and say, ‘Look we want to give you money for programs that don’t work,’” White House budget ...
Chinese consortium provides 1.58 billion USD to finance oil shale project in Jordan
Post Date: 2017-03-17 06:04:37 by Tatarewicz
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People'sDaily... AMMAN, March 16 (Xinhua) -- A consortium of several banks from China has provided 1.58 billion U.S. dollars and 15-year debt facility to support an oil shale power plant in Jordan, which will be the largest private sector project in the country. The debt facility has been lead arranged by Industrial and Commercial Bank of China, Bank of China, China Construction Bank and Exim Bank of China, according to a statement from the Attarat Power Company (APCO) for the financial close of the project. APCO said in the statement that work will start soon on the 554 megawatts project, which will be located at the Attarat um Ghudran oil shale deposit, about 100 km southeast of ...
Trump Nominates Another Goldman Banker For Key Treasury Position
Post Date: 2017-03-16 17:26:39 by Horse
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n the latest creeping takeover by Goldman Sachs of the White House, overnight the White House announced that Donald Trump will nominate another Goldman Sachs banker, James Donovan, for a key financial post as deputy Treasury secretary, the White House said on Tuesday, adding another alumnus of the Wall Street investment bank to his administration. Donovan joins his former peers, Treasury Secretary Steven Mnuchin and chief Economic advisor, Gary Cohn, who are also former Goldman executives who occupy senior economic posts within the administration. Donovan's work at the bank as a managing director has included work on corporate strategy, investment banking and investment management, the ...
Student loan defaults skyrocket by 17 per cent as 4.2 million borrowers face financial disaster after pursuing a college degree
Post Date: 2017-03-15 17:59:12 by Horse
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Study by Consumer Federation of America shows student loan default increase Americans in default on student loans jumped by nearly 17 per cent last year In 2016, 4.2M borrowers were in default and hadn't made a payment in 270 days By end of 2016, 42.4 million Americans owed $1.3 trillion in federal student loans Average amount owed per borrower rose to $30,650 in 2016 compared to $26,300 in 2013, data shows Millions of Americans are facing financial disaster in pursuit of an education as the cost to attend college increases and student loan defaults skyrocket. A new analysis of government data by the Consumer Federation of America (CFA) found that the number of Americans in ...
Boeing's first overseas factory to be built in China's Zhoushan
Post Date: 2017-03-13 04:42:35 by Tatarewicz
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HANGZHOU, March 13 (Xinhua) -- Boeing and Chinese aviation manufacturer Commercial Aircraft Corporation of China Ltd.(COMAC) will start to build a Boeing 737 completion center in eastern China's Zhoushan city at the end of March, scheduled to make its first delivery in 2018. This is Boeing's first overseas facility as part of its 737 production system, and designed to deliver 100 Boeing 737 planes a year. In the joint-venture completion center, Boeing's 737 aircraft will be installed with flight entertainment systems and seats. The plant in Zhoushan, 287 km southeast of Shanghai, also provides services such as coating, repair and maintenance of Boeing aircraft. Boeing and ...
Investing in Russia: A Do-It-Yourself Primer
Post Date: 2017-03-13 02:25:25 by Tatarewicz
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RI... Today Russia has largely delinked from the QE, fiat currency and debt spirals that are casting a shadow over much of the investing world, in many ways thanks to sanctions. In short, there is a lot of room on the upside in this Russian market for the long term, but as the New York Lotto ad says, “You gotta be in it to win it” The Russian market has proven itself stress resilient in the face of all the game changing geopolitical and economic events going on in this world The Russian market has proven itself stress resilient in the face of all the game changing geopolitical and economic events going on in this world Editor's Note: Over the last few weeks a multitude of ...
Depression-Level Unemployment in America
Post Date: 2017-03-12 08:54:00 by Stephen Lendman
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Depression-Level Unemployment in America by Stephen Lendman Monthly Labor Department jobs reports are phony. Paul Craig Roberts calls them “a bad joke,” saying America’s economy is a “house of cards.” A day of reckoning awaits. Job numbers are inflated, manufactured out of thin air, partly based on a so-called birth-death model, estimating net non-reported jobs from new businesses minus losses from others no longer operating. The Bureau of Labor Statistics (BLS) admits misreporting, saying “(t)he confidence level for the monthly change in total employment is on the order of plus or minus 430,000 jobs.” Mark Twain’s maxim about lies, damn lies and ...
Samsung Plans U.S. Expansion, Would Shift Manufacturing From Mexico
Post Date: 2017-03-08 11:16:07 by HAPPY2BME-4UM
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Initial capital investment is expected to be around $300 millionSEOUL— Samsung Electronics Co. is planning a major investment to expand its U.S. production facilities, according to people familiar with the matter, with at least five states in discussions.The initial capital investment is expected to be around $300 million, several of the people said, with Samsung shifting some production of oven ranges to the U.S. from Mexico. The move could generate around 500 jobs, those people said.https://www.wsj.com/articles/samsung-plans-u-s-expansion-would-shift-manufacturing-from-mexico-1488985610
Trump Opens ‘All Available’ Gulf Of Mexico Waters To Oil Drilling
Post Date: 2017-03-08 05:37:10 by HAPPY2BME-4UM
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The Department of the Interior will include “all available” federal waters in the Gulf of Mexico that have not already been leased out for offshore oil drilling.Interior Secretary Ryan Zinke announced Monday 73 million acres off the coast of Texas, Louisiana, Mississippi, Alabama, and Florida would be offered at a lease sale in August as part of the Interior Department’s five-year leasing plan.“Opening more federal lands and waters to oil and gas drilling is a pillar of President Trump’s plan to make the United States energy independent,” Zinke said in a statement.The Obama administration, however, did not include any lease sales in most of the Arctic Ocean and ...
ExxonMobil Announces $20 Billion In US – 47,000 New Jobs For Americans
Post Date: 2017-03-07 06:56:39 by HAPPY2BME-4UM
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When President Donald Trump said the American people would get tired of winning with him in the White House, he wasn’t kidding!Forbes reports:In a speech this afternoon Darren Woods, the new CEO of ExxonMobil set forth his vision of how America’s biggest oil company will invest over the next decade to capitalize on the miracle of the U.S. oil and gas boom. Speaking at the annual CERAWeek conference in Houston, Woods touted Exxon’s new $20 billion Growing the Gulf initiative. It’s their umbrella term for 11 major chemical, refining, lubricant and liquefied natural gas projects along the coasts of Texas and Louisiana. All told, these projects could create 35,000 ...
Indonesia replacing Saudi LPG with Iran imports
Post Date: 2017-03-07 04:28:38 by Tatarewicz
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PressTV... Iran has been ramping up crude oil production to win back its market share since sanctions. Iran has been ramping up crude oil production to win back its market share since sanctions. Indonesia is expecting to increase liquefied petroleum gas (LPG) imports from Iran, director general of oil and gas at the South Asian country’s Energy and Mineral Resources Ministry, Wiratmaja Puja, says. “We wish to add the amount of imported LPG from Iran. At a discounted price if possible,” Wiratmaja said. Indonesia's media reports said the government has been exploring the option since Chief Economic Minister Darmin Nasution’s visited Iran in February. Wiratmaja said ...
University Lays Off 79 IT Workers After They Train Foreign Replacements
Post Date: 2017-03-03 14:42:20 by HAPPY2BME-4UM
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googletag.cmd.push(function() { googletag.display('div-gpt-ad-899198631186649948-1'); }); We’ve seen this same situation play out in other places. An institution or company makes employees train the very people who are going to take their jobs. It’s so demeaning to American workers. try { /* Slot size: 300x250 */ amznads.getAdForSlot('3000', 'f1e0d989-4c90-436b-99f0-9c843a419a01'); } catch(e) { /*ignore*/} ARS Technica reported: Public university lays off 79 IT workers after they train outsourced replacements At the University of California’s San Francisco campus, 79 IT employees lost their jobs this week, some of them after explaining to their ...
Caterpillar Goes From White House Kudos to Multi-Agency Raid
Post Date: 2017-03-03 10:19:58 by Dakmar
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One week ago, Caterpillar Inc. was being praised by President Donald Trump for producing great bulldozers. “I love Caterpillar," Trump told company Chairman Doug Oberhelman at a meeting of manufacturing heads at the White House. On Thursday, officials from the Commerce Department, Internal Revenue Service, Federal Deposit Insurance Corp. and Illinois State Police moved in and out of the company’s corporate headquarters in Peoria, Illinois, in a raid seeking evidence related to exports and a Swiss subsidiary as part of a criminal probe. Bloomberg News obtained copies of three related search warrants, signed Feb. 24 by U.S. Judge Harold Baker, that authorized seizure of a ...
Delivery boy becomes the third richest man in China: Humble worker who defied the odds to set up his own business is now worth £22billion
Post Date: 2017-03-03 08:12:39 by Tatarewicz
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(Mail Online) Every trade has its master - in this case its billionaire - no matter how humble it is. A self-made entrepreneur who once dashed between cities to deliver goods for clients has built an impressive courier empire and is now one of China's richest men. Wang Wei, the boss of SF Express, has seen his personal worth rocketing to a whopping £22.5 billion (189.9 billion yuan) since his company went public last week. Wang Wei is now the third richest man in China thanks to his company SF Express. He was pictured speaking during SF Express's listing ceremony on February 24 With 120,000 employees and 13,000 offices, SF Express is the biggest Chinese courier firm Zep ...
Washington's Game of 'Kick the Can' Could Be Coming to an Abrupt End
Post Date: 2017-03-02 03:07:33 by Tatarewicz
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RI... Moscow. Slightly overcast, the last day of February and the temperature was holding just above the plus numbers. Passing by the Russian Orthodox church of St. Spyridon I spotted the neighborhood “znakhar”, which in English would be a mélange of seeress + witch + healer. I have seen this elderly woman around the neighborhood from time to time and we limit our exchange to polite hellos, as metaphysics is not something I hold in high regard. This time however, she motioned me to come over. “You are that foreigner, no?” I nodded smilingly. “Be ready for very big changes to begin as we approach the middle of this coming March. It is just as well you now ...
Ernst & Young no Longer Requires Degrees – No Evidence a Degree = Success
Post Date: 2017-03-01 07:35:53 by Ada
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I have warned that 2015.75 was the peak in government and the two many industries that government subsidies has created the decay within our American society reducing disposable income – healthcare and education. Degrees I have warned are really worthless. About 60% of graduates cannot find employment in the degree they have paid for. Both education and healthcare have become the greatest violation of consumer laws to date, and nobody does anything about it. Hospitals are growing trying to put out of business the private local general practitioner aided by the lawyers driving up legal claims enticing people to file suits as if this is a lottery or casino to get rich quick. Ernst ...
US not rich enough to give away money for free - Bill Gates
Post Date: 2017-03-01 03:51:31 by Tatarewicz
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RT...d it’s too early to dish out money to needy people, though the billionaire accepts the idea of universal basic income (UBI). Read more © Leonhard Foeger ‘Basic income’ poll: 64% of Europeans would vote in favor, 4% would stop working “Over time countries will be rich enough to do this. However we still have a lot of work that should be done - helping older people, helping kids with special needs, having more adults helping in education,” he said, responding to users’ questions during an Ask Me Anything session on Reddit. UBI is an idea to provide people with a regular allowance regardless of their income or assets. The system can reportedly close ...
Exclusive: Obama Illegally Robbed Fannie, Freddie to Fund Obamacare
Post Date: 2017-02-28 00:24:04 by ratcat
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Exclusive: Obama Illegally Robbed Fannie, Freddie to Fund Obamacare Obama diverted money from low-income housing to keep Obamacare alive Jerome R. Corsi | Infowars.com - February 27, 2017 WASHINGTON, D.C. – Will this be the final nail in the coffin for the Affordable Care Act, commonly known as “Obamacare?” Federal court litigation provides evidence the Obama administration illegally diverted taxpayer funds that had not been appropriated by Congress in an unconstitutional scheme to keep Obamacare from imploding. In 2016, a U.S. District judge caught the Obama administration’s Health and Human Services Department acting unconstitutionally and therefore put an end to ...
JC Penny Closing Up To 140 Stores
Post Date: 2017-02-24 10:31:54 by HAPPY2BME-4UM
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USA Today reported: J.C. Penney (JCP) plans to close up to 140 stores and offer buyouts to 6,000 workers as the department-store industry sags in competition with online sellers and nimble niche retailers. The company said Friday that it would shutter 13% to 14% of its stores, representing about 5% of its annual sales, and two distribution centers. The cuts come amid mounting challenges for once-stalwart department-store chains such as Macy's and Sears, which are aggressively closing stores and shedding costs as shoppers flock to alternatives. Penney expects to save $200 million in annual costs in connection with the plan but will record an initial pre-tax charge of $225 million to ...
Transfer of Canadian banking records to Internal Revenue Agency (IRS) doubled last year
Post Date: 2017-02-24 03:44:50 by Tatarewicz
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Can.Politics - Google Groups... Transfer of Canadian banking records to U.S. tax agency doubled last year Documents for thousands of Canadian residents transferred under controversial FATCA legislation By Elizabeth Thompson, CBC News Banking records of more than 315,000 Canadian residents were turned over to the U.S. Internal Revenue Service last year under a controversial information sharing deal, CBC News has learned. That is double the number transferred in the deal's first year. The Canada Revenue Agency transmitted 315,160 banking records to the IRS on Sept. 28, 2016 — a 104 per cent increase over the 154,667 records the agency sent in September 2015. Lisa Damien, ...
SO MUCH WINNING: Wall Street Closes At Record Highs Thanks To Trump’s Presidency
Post Date: 2017-02-22 20:11:30 by HAPPY2BME-4UM
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(One must understand this economy would be in a FREEFALL had the progressive, neocon, globalist, anti-American beaten Donald Trump. Thank a deplorable the next time you happen to meet one.)===================When President Donald Trump said there would be a lot of winning, he wasn’t kidding!Fox News reports:U.S. stocks rose to fresh record highs on Tuesday, boosted by strong earnings reports from Wal-Mart and Home Depot and continued optimism about the economic agenda of President Donald Trump.Wal-Mart’s shares were the top gainer in the Dow Jones Industrial Average, rising 3 percent after the world’s largest retailer reported higher-than-expected U.S. sales.Home Depot ...
Oil prices will surge to $70 per barrel by year-end - Citi
Post Date: 2017-02-22 07:20:25 by Tatarewicz
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RT... US investment bank Citi has posted a bullish prediction about oil prices. As supply and demand levels continue to rebalance, crude is likely to reach $70 per barrel by the end of 2017, the bank said in a note. Read more © Leonhard Foeger Biggest gasoline glut in 27 years could crash oil markets However, the increase will come gradually, and a surge is to be expected a few months later, said Citi. "Oil prices are not likely to stray far from their current $53-58 per barrel range in the near term as record investor net length and bearish inventory data will likely cap prices until more tangible evidence of a tighter market emerges," Citi’s analysts wrote. On ...
Sanctions and the ‘Gold Ruble’: Russia’s Gambit For Full Financial Sovereignty
Post Date: 2017-02-20 08:21:19 by Tatarewicz
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RI... The ruble is the most gold-backed currency in the world. Can this help Russia safeguard against western economic warfare? America's trusted television pundits are once again screaming about how important it is to maintain sanctions against Russia. Did they not get the memo? Russia doesn't expect sanctions to be lifted any time soon. Instead, it's forging its own path towards financial sovereignty. With America now in full meltdown mode over the ongoing Trump "sanctions conspiracy" with Russia, we thought it would be prudent to ask if there is any real evidence that Russia is desperately trying to fully reintegrate itself with the western-controlled financial ...
WALMART -vs- AMAZON (Amazon winning)
Post Date: 2017-02-19 21:07:14 by HAPPY2BME-4UM
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Warren Buffett nearly bailing out of Wal-Mart Stores Inc. only adds to the big-box chain’s list of concerns. Mr. Buffett’s Berkshire Hathaway dumped $900 million worth of Wal-Mart stock at the end of 2016, the fourth consecutive quarter it has pared its position, according to federal filings. The move supports the concerns Mr. Buffett and others have voiced about the world’s largest retailer and its uphill battle against online behemoth Amazon.com Inc. Amazon “is a big, big force and it has already disrupted plenty of people and it will disrupt more,” Mr. Buffett said last year at Berkshire’s annual shareholders meeting. And while Wal-Mart has taken ...
74 new airports to be completed by 2020 in China: trips to small cities easier
Post Date: 2017-02-19 05:44:20 by Tatarewicz
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(CRI Online) China is aiming to have 74 more civil transport airports by 2020, according to a report released by the Civil Aviation Administration of China (CAAC). The report provides the blueprint and sets the goals for the development of China's civil aviation industry during the country's 13th Five-Year Plan (2016-2020) period, which outlines the government plans for economic and social development over a period of five years. The report says the country will continue to construct 30, and build 44 new, civil transport airports between 2016 and 2020, and the number of civil transport airports will reach about 260 by 2020. These projects would make trips to China's third ...
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