Business

Consumer confidence hits highest level since December 2000 – CNBC

(CNBC)  Consumers were even more optimistic in October than economists polled by Reuters expected. Consumer confidence rose to 125.9 in October, according to the Conference Board. The index “increased to its highest level in almost 17 years,” Lynn Franco, Director of Economic Indicators at The Conference Board, said in a statement. That was in December […]

Business

Macy’s just signaled the end of department stores as we know them – AOL Finance

(AOL Finance)  Macy’s is morphing into a discount store.The department-store chain is testing self-service systems in its shoe departments and at its beauty counters, meaning customers would serve themselves instead of finding a salesperson to retrieve shoes or make eyeliner recommendations. This model copies highly successful off-price retailers like TJ Maxx and Nordstrom Rack. Customer […]

U.S. News

The slowing begins: Foreign Banks Retreating from Lending to U.S.

(CitizensOutpost) As previously reported, The Fed has increased interest rates by a quarter of a percent in an effort to spark inflation.  Seemingly in anticipation of this change, the first week of March has already recorded a 0.75% drop in foreign-related loans and leases: The contraction of foreign loans comes at a time when loan […]

Business U.S. News

The Fed and the Trump Administration are in an Economic Race

(CitizensOutpost) In a bid to spark market inflation, the Federal Reserve may be accelerating its efforts to increase interest rates: On Wednesday, the U.S. central bank is almost universally expected to raise its benchmark interest rates, a move that just a few weeks ago was viewed by the markets as unlikely. And with inflation showing signs […]

Business

Samsung Plans U.S. Expansion, Would Shift Manufacturing From Mexico – WSJ

  (WSJ) SEOUL— Samsung Electronics Co. is planning a major investment to expand its U.S. production facilities, according to people familiar with the matter, with at least five states in discussions. The initial capital investment is expected to be around $300 million, several of the people said, with Samsung shifting some production of oven ranges […]

Business U.S. News

Dow breaks above 21,000 as stocks hit all-time highs after Trump’s speech – CNBC

(CNBC) U.S. equities traded sharply higher on Wednesday, with the Dow Jones industrial average climbing above 21,000 for the first time, on the back of President Donald Trump’s speech to Congress. The Dow advanced more than 200 points with Goldman Sachs contributing the most gains. The 30-stock index first closed above 20,000 on Jan. 25. […]

U.S. News

Mnuchin Wants “Very Significant” Tax Reform by August Recess – CNBC

U.S. Treasury Secretary Steven Mnuchin said on Thursday that he wants to see “very significant” tax reform passed before Congress’ August recess and that the Trump administration was looking closely at border tax issues. “We are committed to tax reforms … We want to get this done by the August recess.” Mnuchin told CNBC, in […]