American workers who are eligible for benefits can claim Social Security as early as age 62, although full retirement age isn’t until at least 66. The most common age at which people file for their Social Security retirement benefit — you guessed it — 62. It’s easy to see why many people want that money […]
Category: Business
Stock Market Is Soaring
Stock markets have been on the rise since Donald Trump’s electoral victory in November, but many Wall Street experts say the president-elect can’t take all the credit. While it’s true that expectations for many of his proposed policies have accelerated the markets’ tear, the economy was in good shape way before the election, and it’s up for […]
Social Security Could Be Short 11 Trillion Dollars
President-elect Donald Trump has said he will preserve Social Security, though if he and Congress do nothing to fix the funding, the financial reckoning will be huge — as much as $11.4 trillion down the road. The last time Congress changed Social Security in a significant way with a series of benefit cuts and payroll […]
General Motors To Invest $1B In American Factories And Job
DETROIT – General Motors will announce a $1 billion investment in its factories that will create or keep around 1,000 jobs, a person briefed on the matter said Monday. The Detroit automaker will make the announcement Tuesday morning. The investment is part of the normal process of equipping factories to build new models, and it’s […]
German Automakers At Odds With Trump
It’s Germany’s turn to feel the heat after President-elect Donald Trump turned his ire on the country’s automakers, its supposed dominance of the European Union, and the failings of Chancellor Angela Merkel’s refugee policy. In a weekend interview given jointly to Germany’s biggest tabloid, Bild-Zeitung, and (somewhat incongruously), the august Times of London, Trump repeated […]
Investors Betting On Post Inauguration Downturn
If options traders are correct, stocks are in for a wild ride in February. Demand for one-month call options tied to the CBOE Volatility Index, a popular gauge of stock-market volatility, has spiked in the past week, a sign that some are bracing for a sharp downturn following the inauguration of President-elect Donald Trump. In […]
Mexico Wants To Re-Negotiate Nafta With Trump As Soon As Possible
MEXICO CITY – Mexico’s new foreign relations secretary says the country isn’t only willing to negotiate changes to the North American Free Trade Agreement, it wants negotiations as soon as possible. Luis Videgaray says there’s “enormous uncertainty” following the U.S. election of Donald Trump as president. Trump has pressured companies not to move jobs to […]
Sears On Brink Of Bankruptcy
Business Insider spoke with more than a dozen employees, ranging from store clerks to senior executives, about the unraveling of Sears. Many spoke on the condition that they not be identified for fear of legal retribution from Lampert and Sears, including one person who specified that she would only speak off the record upon the […]
Government Estimates Cost Of Raising Child To Age 17 Is Over $230,000
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 […]
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 […]