Is America’s labor market deteriorating? That’s the question on everyone’s mind on Thursday after the U.S. government reported the latest jobs numbers. Initial jobless claims came in at 1.42 million in the week ending July 18, worse than the market forecast of 1.3 million, reports the Department of Labor. This was the first weekly increase […]
Money
LOL: Steven Mnuchin says administration wants ‘a stable dollar’
In one of the funniest remarks you will read today, the Treasury Secretary said that the administration wants a stable U.S. dollar. Ostensibly, this is achieved by printing more of it. Humph. Speaking an interview with CNBC, Steven Mnuchin noted that a major goal of President Donald Trump and the administration is a stable dollar. […]
South Korea to tax bitcoin, other virtual assets in 2021
South Korea will start to tax cryptocurrency. The government announced on Wednesday that income made from cryptocurrency will face a penalty of 20 percent. Under the details of the new legislation, income made from virtual assets below $2,000 will not be subjected to a penalty. But anything above $2,000 will immediately be hit with a […]
STUDY: 55% of U.S. business closures permanent, restaurants see most damage
Have we witnessed the death of small business in the post-coronavirus economy? A new study suggests so. According to Yelp’s Economic Average Report, of the 132,580 closures listed on its website, 55% are permanent as of July 10. This is up 14% from the end of June. The data found that approximately 72,000 businesses have […]
Corporate America divests from China, investors pour money into Beijing
By: Andrew Moran Is Corporate America starting to break up with China, or is Wall Street bullish on Beijing? Both things can be true at the same time. The research suggests businesses are decoupling and looking to other parts of the region to manufacture their products. But the data is also showing that investors are […]