Rising Inflation Puts Pressure On Corporate Profits, Despite Hopes Of Recovery

Corporate profit expectations on Wall Street may be inflated. S&P 500 companies may be on the verge of a turnaround after a year of decline. Experts predict a 0.2% increase in profits for the summer, marking the first growth in a year. The previous three quarters witnessed falling profits due to rising costs and a…

ByFinance Capitol StaffOctober 3, 2023

Economy

2023 Sets New High For Billion-Dollar Weather Disasters In The US

This year, the US set a new record for the number of weather disasters that have cost $1 billion or more, reports the Associated Press. This year already broke the 2020 record and there are still four months left. The National Oceanic and Atmospheric Administration announced that this year there have been 23 weather disasters…

ByFinance Capitol StaffSeptember 12, 2023

Economy

U.S. Job Growth Moderates As Economy Adapts To Rate Hikes

The U.S. added 187,000 jobs in August, reflecting a slow yet resilient economy despite the Federal Reserve's high interest rates, according to a report by the Associated Press. While this marks an improvement from July's revised gain of 157,000 jobs, it signals a deceleration in hiring compared to last year's gains. Although the unemployment rate…

ByFinance Capitol StaffSeptember 5, 2023

Economy

Debt Relief: U.S. Approves $42 Billion In Student Loan Forgiveness

The U.S. Federal Government approved more than $42 billion in federal student loan debt forgiveness as a part of a program for getting more people to work in public service jobs, according to a report by the Associated Press. The Public Service Loan Forgiveness (PSLF) program will use billions of dollars in student loan debt…

ByFinance Capitol StaffAugust 10, 2023

Economy

World Bank Warns Global Economy Could Easily Tip Into Recession In 2023

WASHINGTON, Jan 10 (Reuters) - The World Bank slashed its 2023 growth forecasts on Tuesday to levels teetering on the brink of recession for many countries as the impact of central bank rate hikes intensifies, Russia's war in Ukraine continues, and the world's major economic engines sputter. The development lender said it now expected global GDP growth of 1.7% in 2023 -- the slowest pace outside the 2009 and 2020 recessions in…

ByReutersJanuary 16, 2023

Economy

Dallas Could Ban Lawn Mowers And Other Gasoline Equipment

Using gasoline-powered lawnmowers, leaf blowers and other landscaping equipment could soon be illegal in Dallas, but why? Citing health, noise, and environmental concerns, Dallas officials are developing plans to phase out the use of gas-powered tools for city departments, contractors, businesses, and residents by 2027 or 2030. The main argument that supports this ban is…

ByFinance Capitol StaffNovember 30, 2022

Economy

Crypto Needs Oversight To Avoid Harming Americans, White House Says

WASHINGTON, Nov 10 (Reuters) - Cryptocurrencies risk harming everyday Americans without proper oversight and the latest news involving crypto underscores these concerns, White House press secretary Karine Jean-Pierre said on Thursday. She said the White House will continue to monitor developments on cryptocurrencies. “The administration has consistently maintained that, without proper oversight of cryptocurrencies, they…

ByReutersNovember 10, 2022

Economy

BMW Invests $1.7 Billion To Build Electric Vehicles In U.S.

SPARTANBURG, South Carolina Oct 19 (Reuters) - BMW AG said on Wednesday it will invest $1.7 billion to build electric vehicles in the United States, the latest announcement from a major automaker about plans to ramp up U.S. EV production. The German company said it was making a new $1 billion investment in its Spartanburg,…

ByReutersOctober 21, 2022

Economy

Dallas-Fort Worth Is Most Expensive Metro Area In Texas

Dallas-Fort Worth is the least affordable metro area in Texas according to a recent analysis of the Cost of Living Index published by EverythingLubbock. The analysis explains that the average Cost of Living Index for all places in the U.S. is 100. That means that anything above 100 is more expensive than the average and…

ByFinance Capitol StaffOctober 17, 2022

Economy

U.S. Treasury Encourages New Laws To Address Crypto Regulation Gaps

Oct 3 (Reuters) - The Financial Stability Oversight Council (FSOC), a U.S. regulatory panel comprising top financial regulators, on Monday recommended that Congress pass legislation addressing risks digital assets pose to the financial system, including bills to bolster oversight of crypto spot markets and stablecoins. In a report following U.S. President Joe Biden's executive order…

ByReutersOctober 4, 2022

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