WASHINGTON — Expecting a baby? Congratulations! Better put plenty of money in your savings account. The Department of Agriculture says the estimated cost of raising a child from birth through age 17 is $233,610, or as much as almost $14,000 annually. That’s the average for a middle-income couple with two children. It’s a bit more […]
Category: Business
68 Macy stores closing, 10k jobs to be cut
The announcement was issued alongside an unfavorable earnings report, showing comparable store sales dipped 2.1% last quarter. The news caused its stock to plunge nearly 10% during after-hours trading Wednesday. Macy’s (M) said it expects to layoff about 3,900 workers as a result of the upcoming store closures, and another 6,200 jobs will be cut […]
Ford Cancels New Plant In Mexico, Moving Production There Anyway
Ford Motor Co. announced Tuesday it has scrubbed plans to build a new $1.6 billion assembly plant in Mexico, a project that had been spotlighted by then-candidate Donald Trump, especially after Ford said it would move small car production from the U.S. into that new factory. But while the move is being hailed by some […]
Congress Puts Band-Aid On Farm Loan Crisis
The budget patch gives the Agriculture Department’s Farm Service Agency authority to meet the spike in loan demand by using future funding, according to U.S. Sen. Jerry Moran, a Kansas Republican who chairs an agricultural appropriations panel. There is no limit to how much the USDA can lend through April 28 – a victory for […]
Economist Warns Of Looming Stock Market Crash That Will Rival Great Depression
He’s a market watcher known for making bold calls spanning decades. Now, Harry Dent is arguing that the Trump rally is setting investors up for an inevitable stock market crash. Investors have embraced the prospect of President-elect Donald Trump’s victory by sending stocks on a tear to new record highs. Dent, however, thinks there’s trouble […]
Top Republicans Unveil Plan To Drastically Cut Social Security And Medicare
WASHINGTON ― President-elect Donald Trump distinguished himself on the campaign trail as the rare Republican candidate promising not to cut Social Security and Medicare. But Republicans in Congress have other plans for the two popular social insurance programs ― and they are wasting no time rolling them out. Rep. Sam Johnson (R-Texas), chairman of the House […]
Trump Tweets Tax Threats To Companies Planning To Move Out Of Country
The U.S. is going to substantialy reduce taxes and regulations on businesses, but any business that leaves our country for another country, fires its employees, builds a new factory or plant in the other country, and then thinks it will sell its product back into the U.S. …… without retribution or consequence, is WRONG! There […]
Home energy storage as well as electric cars to be sold in Tesla shops
Tesla’s recent acquisition of Solar City mean the automaker’s retail stores are about to get a makeover. Tesla is perhaps best known for its electric cars, but the company has another prominent business as well. Its Tesla Energy division markets stationary lithium-ion battery packs for energy storage. Energy-storage systems can increase the utility of home solar arrays, […]
Single Parent Families Will Have Higher Taxes Under Trump Plan
President-elect Donald Trump’s proposals would modestly cut income taxes for most middle-class Americans. But for nearly 8 million families — including a majority of single-parent households — the opposite would occur: They’d pay more. Most married couples with three or more children would also pay higher taxes, an analysis by the nonpartisan Tax Policy Center […]
Record Highs For Stock Market On Black Friday
The S&P 500 and the Dow were poised to eke out enough gains to hit record highs on Black Friday, with the focus on retailers at the start of the crucial holiday shopping season. Trading volumes are expected to be relatively thin, with the stock market scheduled to close at 1 p.m. The market was […]
Trump Possibly Using Presidency To Strong Arm Better Personal Business Deals
The Trump Organization spent months trying to drive off the culinary union from its Las Vegas hotel, losing one legal battle after another before a federal labor board. Soon Donald Trump’s company, which has refused to bargain with the union after housekeepers and other employees voted to join last December, could gain some leverage. As president, Trump will […]
Apple Exploring Options For Expanding US Manufacturing
NEW YORK — An iPhone “Designed in California” and made in the USA? It could happen soon. Apple asked Asian-based manufacturers Foxconn and Pegatron in June to explore the possibility of manufacturing the popular smartphone in the U.S., according to a report in financial magazine Nikkei Asian Review, citing unnamed people familiar with the matter. Foxconn agreed to look […]