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Economy

New York Report: Trump Tax Proposal Would Mostly Benefit Wealthy

By Yeco on Thursday, March 30, 2017

Nearly all of New York City’s millionaires would receive big tax cuts under President Donald Trump’s proposed tax overhaul, while more than one-third of moderate- and middle-income families would face increases, according to a government report issued Thursday. City Comptroller …

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Economy

Montana Tribe Sues Trump Administration Over Coal Decision

By Yeco on Thursday, March 30, 2017

A Native American tribe in Montana filed a lawsuit against the Trump administration Wednesday, challenging its decision to lift a moratorium on coal leases on public land without first consulting with tribal leaders. The Northern Cheyenne Tribe, located in southern …

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Economy

China Objects to THAAD, South South Korea’s Tourism, Imports Suffer

By Yeco on Thursday, March 30, 2017

Beijing’s reported economic retaliation against South Korea for deploying the U.S. Terminal High Altitude Area Defense (THAAD) missile system continues to target certain sectors, like imports of Korean cosmetics, canceling K-pop concerts, and a ban on Chinese tour groups to …

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Economy

The High Cost of Incivility at Work

By Yeco on Thursday, March 30, 2017

Workplaces have become less civil spaces than they once were. People don’t say please and thank you. Employees send e-mails and texts during meetings, ignoring the speaker and tuning out of the discussion. Others take too much credit for collaborative …

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Economy

El Salvador Congress Approves Law Prohibiting Metals Mining

By Yeco on Thursday, March 30, 2017

El Salvador’s Congress on Wednesday approved a law prohibiting all metal mining projects in a bid to protect the poor Central American country’s environment and natural resources. The new law, which enjoyed cross-party support from 70 lawmakers, blocks all exploration, …

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Economy

US Arrests Turkish Banker in Iran Sanctions Case

By Yeco on Thursday, March 30, 2017

Turkish banker Mehmet Hakan Atilla, a prominent ally of Turkish President Recep Tayyip Erdogan, came to New York this week to school investors on his state bank’s plans to sell new dollar bonds. Instead, he was placed under arrest by …

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Economy

As Brexit is Triggered, European and Asian Rivals Vie for London’s Financial Crown

By Yeco on Wednesday, March 29, 2017

Britain has formally notified Brussels of its intention to leave the European Union, triggering a two-year period of negotiations over its departure and future relations. London financiers are concerned that Britain’s withdrawal from the European Single Market will put the …

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Economy

Analysts: Trump Could Target South Korea for Currency Manipulation

By Yeco on Wednesday, March 29, 2017

South Korean economic reforms, made in part to minimize the impact of a potential international financial crisis, make it a likely target for charges of unfair currency manipulation by the United States. There is growing concern in South Korea and …

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Economy

Toshiba’s Westinghouse Unit Files for Bankruptcy Protection

By Yeco on Wednesday, March 29, 2017

Westinghouse Electric Company filed for Chapter 11 bankruptcy protection Wednesday, saying it needed to restructure because of “certain financial and construction challenges” from its nuclear power plant projects. The company has struggled with cost overruns and delays with the plants. …

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Economy

California, Washington Face Off Over Vehicle Fuel Standards

By Yeco on Wednesday, March 29, 2017

California and a dozen other states could be heading for a showdown with the federal government as the Trump administration reviews rules on fuel efficiency and vehicle emissions, rules President Donald Trump has said curtail growth in the auto industry. …

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Economy

Lawmakers: Trump Team Wants More NAFTA Access for US Goods, Services

By Yeco on Wednesday, March 29, 2017

Trump administration trade officials want a revamped North American Free Trade Agreement to improve access for U.S. farm products, manufactured goods and services in Canada and Mexico, said lawmakers who met with them Tuesday. Members of the House Ways and …

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Economy

Brazil Police Raid Brokerage for Allegedly Laundering ‘Car Wash’ Bribe Cash

By Yeco on Tuesday, March 28, 2017

Brazil’s federal police on Tuesday raided a brokerage in Rio de Janeiro which they allege helped launder money for corrupt former executives of state-run oil firm Petrobras, as part of their sprawling “Car Wash” anti-graft probe. Police said they searched …

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Economy

US Consumer Confidence Surges in March

By Yeco on Tuesday, March 28, 2017

U.S. consumer confidence, home prices, and the trade deficit all improved, according to economic reports published Tuesday. Consumer confidence hit a 16-year high, as consumers said they were more confident about getting or keeping jobs and the economic outlook in …

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Economy

Ford Investing $1.2B in 3 Michigan Plants, Adding 130 Jobs

By Yeco on Tuesday, March 28, 2017

Ford Motor Co. is investing $1.2 billion in three Michigan facilities, including an engine plant where it plans to add 130 jobs. President Donald Trump, who has pressured automakers to invest more and create jobs in the U.S., applauded the …

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Economy

Amazon Makes Another Brick & Mortar Move

By Yeco on Tuesday, March 28, 2017

Online retailer Amazon has announced another move into a traditional brick and mortar business, drive-up grocery stores. The company announced the AmazonFresh Pickup service Tuesday, according to CNBC. The service, which is currently only available to Amazon employees, would allow …

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Economy

Indonesian Tax Amnesty Makes Final Push for Overseas Assets

By Yeco on Tuesday, March 28, 2017

Indonesia has the world’s fourth-largest population at almost 260 million, but only 10 percent are registered as taxpayers and only about one million actually submit a tax return. That’s a major reason for the country’s huge and growing deficit, which …

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Economy

Free WiFi Touted as Airlines Grapple with Laptop Ban

By Yeco on Tuesday, March 28, 2017

Turkish and Gulf airlines are touting free WiFi and better in-flight connectivity for smartphones as they scramble to mitigate the impact of a ban on laptops in plane cabins bound for the United States. The restrictions could deal a blow …

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Economy

Stocks Falter as US Health Care Squabble Worries Investors

By Yeco on Monday, March 27, 2017

In New York, the Dow Jones Industrial Average fell for the eight consecutive day on Monday.  Investors may have been discouraged by the failure of U.S. President Donald Trump to pass big changes to the health care insurance system that …

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Economy

Study: Transnational Crime Worth Between $1.6 to $2.2 Trillion Per Year

By Yeco on Monday, March 27, 2017

Transnational crime, or crimes committed across international borders, is growing at a faster pace than many realize, partly because the international community is not paying a lot of attention to it. That’s the conclusion from Global Financial Integrity or GFI, …

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Economy

‘Fearless Girl’ Extends Face-off with Wall Street’s ‘Charging Bull’

By Yeco on Monday, March 27, 2017

The globally popular statue of a young girl will keep staring down Wall Street’s famed “Charging Bull” through February 2018 instead of being removed this coming Sunday, the mayor said. She’s “standing up to fear, standing up to power, being …

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Economy

Trump Convenes Panel on Empowering Women in Business

By Yeco on Monday, March 27, 2017

President Donald Trump says that empowering and promoting women in business are priorities in his administration.   In a round-table discussion, the president is telling a group of female business owners that his team will work on barriers women face. …

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Economy

‘Bathroom Bill’ to Cost North Carolina More than $3.76 billion in Lost Business

By Yeco on Monday, March 27, 2017

The Associated Press used dozens of interviews and multiple public records requests to determine that North Carolina’s “bathroom bill” will cost the state more than $3.76 billion in lost business over a dozen years. This is how the largest elements …

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Economy

Survey: US Economy to Grow Slower Than Trump Pledges

By Yeco on Monday, March 27, 2017

U.S. economic growth is expected to accelerate this year and next, yet remain modest, even if President Trump’s promised tax cuts and infrastructure spending are implemented, a survey found. The economy will grow a solid 2.3 percent this year and …

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Economy

Interest Cap Poses Body Blow for Cambodian Microfinance

By Yeco on Monday, March 27, 2017

Just months ahead of local elections, the Cambodian government has ordered the microfinance industry to cap the interest rate on new loans at 18 percent a year. While borrowers will applaud that at least in the short term the decision …

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