Archive for December 13th, 2017

The president used a White House event to showcase families who would be positively impacted by changes to the tax code.

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Delivering mail to every address in the country, the USPS has a nearly daily impact on every Americans life. With over $121 billion in debt and unfunded liabilities, it could have an even larger impact in every Americans life if it cannot begin cutting costs and paying its debt and outstanding liabilities. Otherwise the only alternative available would be another taxpayer-funded bailout of a financially mismanaged government agency.
Benefit packages have become very precarious issues for employers in both the public and private sectors. The issue is not the fault of employees, as…

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Washington Redskins quarterback Kirk Cousins is famously frugal. Despite earning million per year, and despite the near certainty that he’ll sign a multi-year contract worth in excess of 0 million sometime in 2018, he’s notoriously thrifty. So careful is Cousins about money that, according to Sports Illustrated, he and his wife live with his in-laws every offseason to shrink costs. So cheap is Cousins that the Mercedes G-Wagon he purchased in October had over 50,000 miles on the odometer. The model is from 2001. The car before the G-Wagon? SI reports that Cousins drove a…

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Tis the season for annual market forecasts.

David Kostin of Goldman Sachs thinks the S&P 500 will finish 2018 around 2,850 (+7%).
Mike Wilson from Morgan Stanley says 2,750 (+3%)
Citigroups Tobias Levkovichthe Eeyore of the bunchexpects just 2,675 (i.e. flat).

Whose number will prove closest?
Before delving into forecasts for next year, lets revisit a call from last year.
Mr. Kostins theme for 2017 was: Hope, Then Fear. In late November of 2016, he laid out a roadmap for how he thought the S&P 500 would trade going forward.
Fear is likely to pervade during 2H…

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Investigators have opened a formal probe of an incident last month during which a Delta Air Lines Inc. plane accidentally lined up with a taxiway instead of a runway shortly before touchdown in Atlanta.

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<p>T-Mobile has spent the past four years attacking wireless industry rivals to great success. But the wireless industry isn’t growing as fast as it once was, so the carrier has focused on an entirely new market: the $100 billion cable and satellite TV business.</p>

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RIYADH, Saudi Arabia (AP) Saudi King Salman delivered a speech on Wednesday outlining his governments priorities for the coming year, urging citizens to support economic reforms and the governments anti-corruption drive.
In early November, the kings son and heir, Crown Prince Mohammed bin Salman, oversaw the unprecedented arrest of top princes, businessmen and officials allegedly involved in corruption. Many have agreed to pay undisclosed sums in exchange for their release.
We are determined to confront corruption fairly and firmly, the king said.
The king, 81, delivered…

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<p>The Federal Reserve raised its benchmark overnight lending rate by a quarter of a percentage point Wednesday, as anticipated, but left its rate outlook for the coming years unchanged even as policymakers projected a short-term acceleration in U.S. economic growth.</p>

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The IRS still has seven tax brackets (for now), but the income thresholds have increased for 2018.

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Uber says the charge was a mistake and has refunded the money.

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WASHINGTON (AP) The Federal Reserve is raising its benchmark interest rate for the third time this year, signaling its confidence that the U.S. economy remains on solid footing 8 years after the end of the Great Recession.
The Fed is lifting its short-term rate by a modest quarter-point to a still-low range of 1.25 percent to 1.5 percent. It is also continuing to slowly shrink its bond portfolio. Together, the two steps could lead over time to higher loan rates for consumers and businesses and slightly better returns for savers.
The central bank says it expects the job market and the…

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The company has been steadily losing money since 2013.

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OPEC predicted that global oil markets won’t rebalance until late next year after boosting forecasts for supplies from the U.S. and other rivals.

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Michael Zito got a job in July, and that game-changing development likely owes a lot to a tight U.S. labor market.

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A new rule designed to level wages between workers could end up hurting their incomes

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