Money & The Economy

China is trying to stem an economic slowdown, including rising unemployment, continuing into the first two months of 2019 after documenting its worst year of economic growth in nearly 30 years in 2018. Beijing is trying to counter the slowdown by spending more on infrastructure project and encouraging banks to extend loans to small
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OxyContin manufacturer Purdue Pharma is reportedly weighing a bankruptcy filing after most of its profits ended up in the pockets of the Sacklers, the multibillion-dollar family who control the company, according to sources cited by The Wall Street Journal. The drug company is working with restructuring experts for a potential bankruptcy filing, people familiar with
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Several states are cutting taxes and putting money aside to protect themselves during future recessions as state economies continue to boom since President Donald Trump took office. Almost every U.S. state is experiencing a thriving economy; 48 states will meet or exceed revenue expectations, according to a survey from The National Conference of State Legislatures, The
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Survey results from 2,000 high school and college-aged teens, and young adults, across the country shows that a significant portion of students continue to delay decisions on their career choice well into their sophomore year of college. The survey, conducted by Wakefield Research for Junior Achievement USA and The Hartford, is available in a report titled Insuring Career
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The U.S. Department of Transportation (USDOT) announced today that the Federal Railroad Administration (FRA) intends to cancel $929 million in Federal grant funds yet to be paid for the California High-Speed Rail project envisioned to connect the L.A. Basin to the San Francisco Bay Area. In addition, the Department announced it is actively exploring
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President Donald Trump pleaded with the Tennessee Valley Authority Monday to rethink closing one of its largest coal power plants in Kentucky. The president was elected partially on the promise to revitalize the beleaguered industry. “Coal is an important part of our electricity generation mix and @TVAnews should give serious consideration to all factors
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The U.S. economy added 304,000 jobs while the unemployment rate rose slightly to 4 percent in the first month of 2019, according to Department of Labor (DOL) data released Friday. January marks the 100th straight month of job growth in the U.S., a record more than twice as long as the previous one of
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CVS officials said the company’s pharmacy benefit management division and Walmart were splitting over a price dispute Tuesday. The organizations walked back the announcement Friday. The split would have meant that many people who have CVS Health drug plans would no longer be able to pick up their prescriptions at Walmart locations. Walmart and CVS
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Drug companies raised prices on approximately one-third of the nearly 120 drugs classified as currently or recently in shortage after the shortages began, according to a Wall Street Journal report published Friday. Many of the drugs seeing big price hikes are low-cost prescription medicines that have been on the markets for years, like valsartan. It’s
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The United States is expected to churn out far more oil this year than what international analysts originally forecasted. The International Energy Agency, a Paris-based organization that helps coordinate energy policies for industrial countries, released its latest oil market report on Friday, noting exceptional numbers for the U.S. fossil fuel industry. The agency reported that
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U.S. home-sale prices increased just 1.2 percent in December compared to a year ago to a median of $289,800, according to a housing market analysis from Redfin, the next-generation real estate brokerage. The year-over-year increase in home prices was the smallest since the number went positive in March 2012. The median sale price of homes sold in December fell since
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California faces a new energy crisis with the bankruptcy of its biggest utility, Pacific Gas & Electric. PG&E has at least $30 billion in liabilities stemming from deadly wildfires sparked by its equipment. The bankruptcy raises questions about grid reliability, power prices and state green energy goals. Pacific Gas & Electric’s (PG&E) bankruptcy filing Monday
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