President Donald Trump is expected to sign two executive orders on Friday, which aim to fulfill key campaign promises to make trade more fair. The first commissions a report on trade practices that contribute to the trade deficit, while the second seeks better collection of anti-dumping and countervailing duties. The report, spearheaded by the Commerce […]
Category: Business
Social Security Needs To Be Fixed Not Left Alone
Despite proposing major spending cuts to most domestic agencies, President Trump’s “skinny budget” spares the Social Security Administration. Thankfully, the president is living up to his campaign pledge to protect the program that serves 61 million Americans. Yet, without any action by Congress to reform the system, benefits will be cut anyway, by at least […]
Automation Pushing America To Universal Basic Income For It’s Citizens
Is a guaranteed paycheck from the government, with no strings attached, the answer to the relentless rise of automation? The concept might sound far-fetched, but a so-called universal basic income (UBI), is currently one of the most hotly debated policy topics being floated as a means to address income inequality and the disruption that technology […]
Robots, A.I. Boom May Cost US, UK At Least 33% Of Their Jobs
Up to one-third of British jobs could be taken over by robots by the early 2030s, impacting 10 million Britons but with women less likely to face redundancy, a UK study showed. The research, by accountancy firm PricewaterhouseCoopers LLP, found 30 percent of UK jobs could face automation compared to 38 percent in the United […]
JC Penney Closing 138 Stores Nationwide
J.C. Penney on Friday released a list of 138 department stores it plans to close as part of a previously announced plan to shrink its footprint as it grapples with industry challenges. The company had estimated that it would close 130 to 140 locations. Most stores will begin liquidation sales April 17 and close in […]
Staples Announces The Closing Of 70 Stores Nationwide
Office-supplies retailer Staples plans to close another 70 stores this year, the company said Thursday. Staples made the announcement in its fourth-quarter earnings report, in which it disclosed it lost $548 million in 2016 as sales dropped 3 percent. The company did not say which locations will be shuttered. Staples has about 75 stores in […]
Despite Trump Boasts, Job Numbers Identical To Obama
President Donald Trump on Friday flipped his approach to the government’s employment report, celebrating the kind of strong showing he dismissed as phony under President Barack Obama. The Labor Department reported that the economy created 235,000 jobs in February, above the 190,000 consensus, allowing the president to claim that business enthusiasm over his approach to […]
Economy Adds Almost 300,000 New Jobs In February
WASHINGTON – U.S. private businesses added the most jobs in three years last month, a private survey found, a sign that hiring is picking up seven years after the recession ended. Payroll processor ADP said Wednesday that businesses added 298,000 jobs in February, up from 261,000 in January. The gains were led by a huge 66,000 […]
Despite Boycott Ivanka Trump Clothing Sales At All Time High
Ivanka Trump’s eponymous women’s fashion line is reporting record sales figures despite calls for a boycott and controversies surrounding President Trump. “Since the beginning of February, they were some of the best performing weeks in the history of the brand,” Abigail Klem, the president of the Ivanka Trump fashion brand, tells Refinery29 in an interview […]
Stock Market Soars After Trump Speech
U.S. stock-market indexes set a new round of records Wednesday as investors welcomed President Donald Trump’s conciliatory tone during his address to a joint session of Congress, despite a lack of details on his economic plans. Some analysts suggested that the absence of protectionist comments as well as his overall tone that was perceived as […]
Travel Ban Costing US Business Hundreds Of Millions Of Dollars
President Donald Trump is all about business, but one of his first actions prompted a slump in business travel to the U.S. Numerous reports show interest in both business and leisure travel to the U.S. declined since Trump took office. But there was an especially dramatic plunge after he signed a now-suspended executive order on travel Jan. 27 […]
JC Penny’s Closing 140 Stores
J.C. Penney (JCP) plans to close 130 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 locations and introduce new goods and services aimed at the shifting preferences […]