Tax reform is never easy, which is why it hasn’t happened since 1986. But it’s harder in 2017 for two fundamental reasons. The political foundation for the current GOP effort is weaker than it was three decades ago. And so is the economic foundation. In 1986, President Ronald Reagan governed with an approval rating of […]
Read moreCurrency, United States Finance
Major bank CEO warns that the perfect economy right now 'is exactly when things may go wrong'
The CEO of a major European bank offered a stark warning for his industry on Thursday, suggesting that years of accommodative policy by global central banks could quickly turn sour. Low interest rates have been supportive for the world economy, according to ING Group’s Chief Executive Ralph Hamers, but banks have to be “very cautious” […]
Read moreHouse Budget Committee Chairwoman Diane Black told CNBC on Thursday the Republican tax reform plan should provide economic growth of 2.6 percent. “I think it will be larger than that, but we wanted to be conservative,” the Tennessee Republican told “Squawk Box.” Black said the House got that number with data from the nonpartisan Congressional […]
Read moreGoldman Sachs has sought to reassure investors after seeing warning signals of a market peak. The investment bank has built a “Bear Market Risk Indicator” to gauge when a market may have topped out. This factors in valuations, ISM Manufacturing data, unemployment, inflation and the yield curve. Goldman’s September strategy paper said the indicator currently […]
Read moreAmazon is nearly doubling its fulfillment center workforce as it heads into the holiday season. The company announced Thursday it’s hiring 120,000 temporary employees to work in fulfillment centers across 33 states, adding to 125,000 existing full-time employees. “We look forward to welcoming back holiday employees who return year-after-year to Amazon and welcome new faces […]
Read more“We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run,” said the late American futurist and engineering researcher Roy Amara, a maxim known as Amara’s law. It takes more than a long-term view to understand why Facebook continues to invest heavily in virtual reality. […]
Read moreFacebook chief operating officer Sheryl Sandberg said she supports the public release of Russian-linked political Facebook ads that have been shared with Congress. “Things happened on our platform that shouldn’t have happened,” Sandberg said to Axios on Thursday. Sandberg is expected to meet with members of Congress on Thursday in Washington, D.C., according to Recode. […]
Read moreAirbnb is introducing its first branded apartment complex in Florida, a state where strict regulations threaten its growth and restrict its supply of available rooms. The partnership with Miami-based Newgard Development Group marks the first step by Airbnb to design accommodations from the ground up for home-sharing, further challenging the traditional hotel industry. Under the […]
Read moreAmazon’s stunning growth in a new unexpected market will boost the company’s shares, according to a small Wall Street firm. Atlantic Equities reaffirmed its overweight rating for the e-commerce giant, predicting its ad sales will nearly quintuple during the next four years. “Amazon’s advertising business is growing in importance, representing an increasingly material source of […]
Read moreThe number of Americans filing for unemployment benefits fell to more than a one-month low last week as claims in Texas and Florida continued to decline after being boosted by Hurricanes Harvey and Irma. Initial claims for state unemployment benefits decreased 15,000 to a seasonally adjusted 243,000 for the week ended Oct. 7, the lowest […]
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