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The World Record for the men’s 100-meter dash is 9.58 seconds, while the men’s world record for the for the 100-meter hurdles is 12.80 seconds. The athletes run the same distance on the same track and yet the Hurdlers consistently turn in times almost 33% slower. It’s obvious that each of the ten hurdles in the Athletes path slows them down. If there were fewer hurdles, it would stand to reason that their times would improve. If the hurdles were removed completely you would expect the times to improve to the point where they were the same as the 100-meter dash. Hurdles in sports and business…

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STOCKHOLM (AP) Swedish music streaming service Spotify and Chinese internet company Tencent have struck a deal to take minority stakes in each other.
The companies said Friday in a joint statement they will acquire new shares representing minority equity stakes in each other for cash Tencent Music Entertainment will invest in Spotify, while the Swedish music startup will take a stake in Tencents music wing. Terms of the deal were not disclosed.
The companies said it would be strengthening relationships between the two most popular music streaming platforms in the…

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WASHINGTON (AP) U.S. employers added a robust 228,000 jobs in November, a sign of the job markets enduring strength in its ninth year of economic recovery.
The unemployment rate remained at a 17-year low of 4.1 percent, the Labor Department reported.
Fridays jobs report made clear that the U.S. economy is on firm footing and is likely benefiting from more resilient global growth, with all major economies across the world expanding in tandem for the first time in a decade.
Over the past six months, U.S. economic growth has exceeded an annual rate of 3 percent, the first time thats…

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Now that the Senate has passed the tax bill, its high time we put our partisan griping aside and take a closer look at it. And while many have bemoaned the changes to the mortgage deduction as a plan to hurt homeowners, it is an element of the plan that both Republicans and Democrats should support.
Real estate professionals have come out against the plan, crying foul and claiming that it will eliminate incentives for homeownership and make more turn to renting. It all sounds like an awful deal for average Americans, but we need to check our logic.
In the middle of the twentieth century,…

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Despite considerable concern that the development of artificial intelligence will serve as a chainsaw, mowing down jobs in its path, AI is actually just another step in a journey we have been on for hundreds of years: The shift from upper body strength to cognitive skills as the basis for earning a continually improving living.Instead of being obsessed with the part of the glass that seems to be empty, we need to focus more on the part that is rapidly filling up.
A recent report by the McKinsey Global Institute has been seized on by many, including several media outlets, as a warning that 800…

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After supposedly chomping on the bit for years to pass meaningful tax reform, Republicans are now set to blow an historic opportunity. Whatever version of the Bill that emerges from the House and Senate Conference Committee (which will be signed by President Trump faster than he can down a Filet o’Fish), will be far less than the Republicans envisioned when they finally captured the White House and both Congressional Chambers in 2016. But from what I have seen of the particulars, the revisions to the tax code will offer a marginal, although temporary, win for low income individuals, a major…

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One hundred and sixty-nine years ago yesterday, President James Polk delivered his State of the Union address to Congress. He had quite a lot to talk about, starting off, as many Presidents did in those days, by decrying the state of affairs in Europe (some things may never change). The troubled and unsettled condition of some of the principal European powers has had a necessary tendency to check and embarrass trade and to depress prices throughout all commercial nations, including, he warned, the United States its then current prosperity notwithstanding.
The Presidents primary…

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NEWARK, N.J. (AP) General Electric Co. will cut 12,000 jobs in its power division as alternative energy supplants demand for coal and other fossil fuels, and energy demand declines overall.
The company said Thursday that the cuts to both office and production jobs, will help right-size GE Power in a traditional power markets that is being upended globally.
The cuts, representing 18 percent of all jobs at GE Power, will take place largely outside of the U.S. Many will be in Europe, where other energy companies have already announced reductions.
GE plans to cut 1,400 of its 4,200…

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As technology takes over more of peoples daily lives, its also taking over ever-bigger chunks of their retirement accounts.
Surging prices for technology stocks around the world mean the industry is making up a larger proportion of global markets. In the United States, Apple, Googles parent company and other tech companies account for nearly 24 percent of the Standard & Poors 500 index. A decade ago, they made up less than 17 percent of S&P 500 index funds. The makeover is even more dramatic overseas, where ascendant companies like Chinas Tencent and Alibaba have quickly…

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WASHINGTON (AP) Congress seems set to prevent a weekend government shutdown, but lawmakers and President Donald Trump still have longer-range disputes to settle over spending, immigration and other issues before they can declare budget peace.
With many on both sides deciding a headline-grabbing federal closure would be a political blunder at least for now the House planned to approve legislation Thursday financing federal agencies through Dec. 22. The Senate seemed ready to follow. Without legislation, many agencies would run out of money after midnight Friday and grind to a…

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TOKYO (AP) The frenzy surrounding bitcoin amped up further Thursday as the virtual currency soared above $15,000 for the first time, just days before it starts trading on major U.S. exchanges.
At the same time, there are fresh concerns about the security of bitcoin and other virtual currencies after NiceHash, a company that mines bitcoins on behalf of customers, said it is investigating a breach that may have resulted in the theft of bitcoin valued at about $70 million.
Research company Coindesk said that a wallet address referred to by NiceHash users indicates that about 4,700 bitcoins…

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Last week, Judge Timothy Kelly, U.S. District Court for the District of Columbia, ruled that Mick Mulvaney, not Leandra English, is the Acting Director of the Consumer Financial Protection Bureau (CFPB).
Ms. English, whom outgoing director Richard Cordray abruptly appointed as deputy director during Thanksgiving weekend, sued President Trump on Monday morning. The deputy director position had been open since 2015; Cordray chose to keep it unfilled until last Friday. Ms. English retained a private-sector plaintiffs attorney to represent her, partially because the CFPBs general…

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In 1967, the United States had 500,000 troops in Vietnam, and peace talks had not even been proposed. The first organ transplant in history was not performed until December of that year, and the patient survived only 18 days. The U.S. poverty rate was over 28 percent, almost twice as high as today, as calculated by Columbia University researchers. Median American household income was 40 percent lower than it is today, even accounting for inflation.
If youre looking for the good old days, you can stop your search. Theyre happening right now. If youre looking back nostalgically to the…

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When the 20th century dawned, automobiles were rarer than were exceedingly rare millionaires. If you had a car in 1900 it was a sign of your immense prosperity. Goodness, if you actually knew someone who owned a car you ran in high, high circles.
In 1970 Dallas-based Texas Instruments released the first pocket calculator. This adding and subtracting machine that is standard on the internet and the most basic of smartphones today, set you back $400 when the Me decade began. As for computers, by now most readers are aware that the first ones put on the market by IBM in the 1960s…

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WASHINGTON (AP) The top Senate Republican said Wednesday he favors expanding a deduction for state and local taxes to enable Americans to deduct local income taxes as well as property taxes. It was a concession to Republicans from high-tax states who oppose the sweeping tax bill.
The proposal is a possible solution to a standoff with rebellious House Republicans as Congress hurtles toward enacting major tax legislation. The tax bills passed by the House and Senate would end deductions for state and local income and sales taxes, while allowing only a deduction up to $10,000 for property…

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