Posts filtered by tags: Economy[x]


1.13 million workers trapped in EDD payment limbo

About 1.13 million unemployed California workers are stuck in EDD payment limbo, including 889,000 workers the state Employment Development Department says it can’t pay “at this time,” even if they’ve been out of work for months amid coronavirus-linked shutdowns. At a state legislative hearing last week, the state’s Employment Development Department was blasted by lawmakers and members of the public for repeated failures in making payments to unemployed workers. The embattled state agency, throu...
Tags: Business, Jobs, News, California, California News, San Francisco, Sport, Economy, Soccer, Levy, Bay Area, San Jose Mercury News, Martinez, David Chiu, Employment Development Department, Edd

Why Section 1031 like-kind exchanges need to stay

Candidate Joe Biden’s campaign plan is to eliminate certain preferences for real estate, and one major area the plan focuses on is the elimination of Section 1031 like-kind exchanges. Here's why that's a bad idea.
Tags: Opinion, Joe Biden, Economy, Service, Radio, Agent, Tax Code, Brokerage, Select, Dan Wagner, Ernst & Young, Like-Kind Exchanges, Section 1031, Caring Economy Plan, Ling and Petrova

Coronavirus and economic recovery are topics of Rep. Brad Sherman’s town hall, Aug. 4

  In this May 21, 2020 file photo, a man looks at signs of a closed store due to COVID-19 in Niles, Ill. U.S. businesses shed 2.76 million jobs in May, as the economic damage from the historically unrivaled coronavirus outbreak stretched into a third month. (AP Photo/Nam Y. Huh, File)   Rep. Brad Sherman (D-Sherman Oaks) holds his ninth coronavirus-related telephone town hall, 7 p.m. Aug. 4. Sherman will be joined by medical experts to discuss the latest updates on coronavirus pandemic. She...
Tags: Health, Politics, California, Sport, Economy, Public Health, Soccer, Local Politics, Disneyland, Local News, Sherman, Brad Sherman, Los Angeles City, LA County, San Fernando Valley, National Politics

‘We Know This Is A Recession, But We Don’t Want This To Go Into Depression Territory,’ Says Economics Professor

(CBSNewYork) — The COVID-19 pandemic rages on, and the economy is in a precarious place. What happens in the coming weeks and months will affect millions of people yet remains largely outside their control. Almost halfway through the summer, as the pandemic wanes in many parts of Europe and Asia, the number of new cases in the U.S. has topped 50,000 almost every day in July. The domestic daily death count routinely exceeds 1,000. Many states are seeing near-record highs for infections. Hospitals...
Tags: Asia, Europe, Business, Florida, News, Congress, Economy, Unemployment, United States, U S, Commerce Department, Consumer, Fordham University, Economic Crisis, Santangelo, Giacomo Santangelo

Why the Weak Dollar Is Good for Your Investments

As the economy struggles, it’s been a rough month for the U.S. dollar. Our currency may be on track for the weakest month in almost a decade, according to the Wall Street Journal. Two things have caused the recent decline: Our coronavirus outbreak and low interest rates from the Federal Reserve. As a result, investors…Read more...
Tags: Money, Investments, Economy, Lifehacks, Federal Reserve, Wall Street Journal

California unemployment: State legislators grill EDD officials about failures

California lawmakers grilled state labor officials on Thursday amid rising concerns about the government’s inability to pay unemployment claims that have soared amid widespread business shutdowns — and learned that decades-old technologies underpin the creaky payments system. During a state legislative hearing on Thursday, the Employment Development Department was portrayed as inept and unresponsive to the needs of jobless workers who have lost work in record numbers because state and local gove...
Tags: Business, Politics, Jobs, News, California, California News, San Francisco, Sport, Economy, Soccer, San Diego, Gavin Newsom, Southern California, Kelly, Assembly, Hilliard

Visit Sacramento Launching Travel In Place Initiative

SACRAMENTO (CBS13) – As the effects of COVID-19 continue to ravage local businesses, Visit Sacramento is urging people to have a staycation and visit the local businesses that usually depend on tourism. On Friday, the organization launched “Travel In Place” that encourages people to take restorative staycations in their own backyards. The United States economy endured its worst quarter in recorded history this spring. The real Gross Domestic Product (GDP) — the value of all the goods and service...
Tags: Uncategorized, Sacramento, Economy, United States, Bureau of Economic Analysis, Sacramento News

Consumer spending up 5.6%, but coronavirus could stall gains

By MARTIN CRUTSINGER | AP Economics Writer WASHINGTON — American consumers increased their spending in June by a solid 5.6%, helping regain some of record plunge that occurred after the coronavirus struck hard in March and paralyzed the economy. But the virus’ resurgence in much of the country could impede further gains. Last month’s rise in consumer spending followed a seasonally adjusted 8.5% surge in May after spending had plunged the previous two months when the pandemic shuttered businesses...
Tags: Politics, News, Congress, California, Washington, Senate, White House, Sport, Economy, Soccer, United States, Fed, Powell, Commerce Department, Jerome Powell, Newsom

Extra $600 in jobless aid set to lapse as talks deadlock

By ANDREW TAYLOR | Associated Press WASHINGTON — A deadlocked Senate on Thursday left Washington for the weekend without extending a $600-per-week expanded jobless benefit that has helped keep both families and the economy afloat as the COVID-19 pandemic wreaks havoc on the country. Friday’s expiration of the $600 jobless benefit sent Republicans controlling the Senate scrambling to respond. Top Senate Republican Mitch McConnell made a procedural move to make it easier to reach a potential compr...
Tags: Politics, John Lewis, News, Congress, Washington, Senate, White House, Atlanta, Sport, Economy, Fbi, Soccer, Democrats, Gop, House, Treasury

Coronavirus unemployment: Newsom plans EDD reforms but relief is months away

Gov. Gavin Newsom, alarmed by the state’s difficulty in promptly paying unemployment claims to jobless workers, announced a “strike team” Wednesday to address the problems — but also indicated it could take months to catch up to a backlog of unpaid benefits. The strike team of state officials is being set up to address a debacle at the Employment Development Department that has persisted — without A solution — for more than four months. That’s when unemployment claims spiked after state and loca...
Tags: Business, Politics, Jobs, News, Labor, California, California News, Sport, Economy, SU, Soccer, United States, Gavin Newsom, Legislature, Employment Development Department, Labor Department

United States Economy Shrinks By Record 32.9 Percent In Second Quarter

(CBSNewYork) — The United States economy endured its worst quarter in recorded history this spring. The real Gross Domestic Product (GDP) — the value of all the goods and services produced in an economy — declined at an annual rate of 32.9 percent. That’s according to the advance estimate from the Bureau of Economic Analysis. The decline reflects the effects of the COVID-19 pandemic that forced much of the country to stay home and limit spending. The previous record occurred in the first quarter...
Tags: Business, News, Congress, Economy, United States, Federal Reserve, Trump, Consumer, Bureau of Economic Analysis, Fordham University, Seton Hall University, Santangelo, Giacomo Santangelo, Norm Elrod, Stillman School of Business

Magnetis raises $11 million for its automated wealth management and brokerage service for Brazil

Magnetis, an automated wealth management solution for Brazilian investors, has raised $11 million in a new round of funding as it transforms itself into a full service brokerage for the nation’s investor class. Investors in the round included Redpoint eventures and Vostok Emerging Finance, the company said. “We’re quite happy with this vote of confidence from our investors. It only reinforces the credibility of our service and business model, which uses technology for goal-based investment manag...
Tags: TC, Money, Finance, Tech, Ceo, Economy, Artificial Intelligence, Brazil, Broker, Redpoint, Fintech, Latin America, Nubank, Anderson, Financial Technology, Wealth Management

Cox Automotive Cuts Staff, Focuses on ‘Digital Services’

Cox Automotive eliminated around 1,600 jobs this month as it prepared to better embrace online commerce (and nobody having any money). The company axed nearly 300 employees in June after having furloughed over 12,000 people in response to the coronavirus pandemic this spring. A large number of those positions were related to its Manheim auction […] The post Cox Automotive Cuts Staff, Focuses on ‘Digital Services’ appeared first on The Truth About Cars.
Tags: Layoffs, Recession, Economy, Autos, Job losses, Online Sales, Car Sales, Manheim, Cox Automotive, News Blog, Car Auctions, Restructuring, Automotive Auctions, COVID-19, Staffing Reductions

US Economy Contracted At Head-Spinning 33% Rate Last Quarter

WASHINGTON (AP) — The U.S. economy shrank at a dizzying 33% annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%, the government said Thursday. The Commerce Department’s estimate of the second-quarter decline in the gross domestic product, the total output of goods and services, marked the sharpest such drop on records dating to 1947. The previ...
Tags: News, Washington, US, Economy, Ap, United States, Gdp, Donald Trump, Eisenhower, Trump, Fed, Republican Senate, Commerce Department, David Taintor, Federal Reserve Chair Jerome Powell The Fed

On news of record-breaking US economic downturn, Trump distracts with tweet about delaying election

The stock market hasn't crashed yet, but a Bloomberg headline reveals what's really happening in the United States: "Almost 30 Million in U.S. Didn’t Have Enough to Eat Last Week. The US GDP fell by 9.5% in the second quarter. The New York Times says "The percentage decrease in GDP is by far the biggest on record." The chart below, which shows the rise and fall of the GDP since the late 1940s reveals the enormity of the decline: Trump responded to the news by giving people something else to tal...
Tags: Post, Usa, News, US, Bloomberg, Economy, United States, New York Times, Gdp, Trump, Donald J Trump

U.S. economy shrank at record-breaking 33% last quarter, as 1.4M sought unemployment aid last week

Thanks, President Trump! The government said Thursday the U.S. economy shrank at a shocking 33% annual rate in the April-June quarter. This is by far America's worst quarterly plunge ever, caused by the government's reckless response to the viral outbreak, which threw tens of millions out of work and sent unemployment surging to 14.7%. Unemployment Insurance Weekly Claims Initial claims were 1,434,000 for the week ending 7/25 (+12,000). Insured unemployment was 17,018,000 for the week endin...
Tags: Post, Money, News, US, America, US news, Economy, United States, Associated Press, Eisenhower, Trump, Commerce Department, US Labor Department, Unemployment Insurance Weekly Claims Initial

Jobs at stake as financial losses hit ArcelorMittal

South Africa’s steel producer’s earnings dropped in the first quarter of 2020 because of low demand and a lacklustre economy, exacerbated by the Covid-19 lockdown The post Jobs at stake as financial losses hit ArcelorMittal appeared first on The Mail & Guardian.
Tags: Business, Economy, South Africa, Openaccess, Numsa, ArcelorMittal, Lockdown, Top Six, South Africa (country, South African Economy, COVID-19, Saldanha Works

Best Tech Stocks to Invest In During the Pandemic

Investing in the technology sector may require you to enter periods when some of your stock picks are struggling. This was the case during the early days of the pandemic when the share price of several tech stocks took a significant hit. Focusing on the long-term is usually the best method to take when you’re choosing stocks to buy in this sector. Consider How COVID-19 Impacts Companies Shutdowns do not affect all businesses negatively. With more people working from home, software as a servic...
Tags: Apple, Google, Amazon, Business, Steve Jobs, Economy, Qualcomm, Aapl, AMZN, GOOGL, Waymo, Apple AAPL Apple

Six things venture capitalists are looking for in your pitch

Founders pitch venture capitalists at every available chance, which is why most of them quickly develop the skills required to identify whether someone is offering them an opportunity or wasting their time. At TechCrunch Early Stage, I chatted with NFX Managing Partner James Currier about how founders can find the right investors and what they need to show to win an investment. Currier has been on both sides of the deal table and founded several startups before devoting himself to early-st...
Tags: Iphone, Startups, TC, Lyft, Entrepreneurship, Funding, Tech, Economy, Fundraising, Venture Capital, Private Equity, Houzz, James Currier, Startup Pitch, Currier, Corporate Finance

South Africa prioritises fossil fuels over clean energy in post-Covid-19 recovery packages

The country is among the G20 countries who have invested in electricity produced from coal, oil and gas at the cost of addressing climate change The post South Africa prioritises fossil fuels over clean energy in post-Covid-19 recovery packages appeared first on The Mail & Guardian.
Tags: Environment, Economy, South Africa, United Nations, Fossil Fuel, International Energy Agency, Antonio Guterres, Top Six, COVID-19, South African Wind Energy Association

VCs and startups consider HaaS model for consumer devices

I’ve been following consumer audio electronics company Nura with great interest for a few years now — the Melbourne-based startup was one of the first companies I met with after starting with TechCrunch. At the time, its first prototype was a big mess of circuits and wires — the sort of thing you could never imagine shrunk down into a reasonably-sized consumer device. Nura managed, of course. And the final product looked and sounded great; hell, even the box was nice. If I’m lucky, I see a consu...
Tags: Startups, Gadgets, Wearables, Spotify, Hbo, Hardware, Marketing, Events, Tech, Marketing Strategy, Economy, Smartphones, Netflix, Headphones, Melbourne, Subscription Services

Coronavirus aid: $1,200 checks by August, says Mnuchin

By LISA MASCARO | AP Congressional Correspondent WASHINGTON — Treasury Secretary Steven Mnuchin said Saturday that Republicans were set to roll out the next COVID-19 aid package Monday and assured there was backing from the White House after he and President Donald Trump’s top aide met to fine-tune the $1 trillion proposal that had floundered just days before. Mnuchin told reporters at the Capitol that extending an expiring unemployment benefit — but reducing it substantially — was a top priorit...
Tags: Politics, News, Washington, Senate, White House, Sport, Economy, Soccer, Gop, House, Treasury, Mitch McConnell, Nancy Pelosi, Donald Trump, Trump, Capitol

Our relationship with food locked down

The pandemic could mean collective re-evaluation of healthy and cost-effective eating and also highlights how companies need to be even more connected to the consumer The post Our relationship with food locked down appeared first on The Mail & Guardian.
Tags: Food, Cooking, Nutrition, Opinion, Snacks, Economy, Baking, Healthy Food, Openaccess, Food Prices, Top Six, Coronavirus, South Africa (country, COVID-19, Food Behaviours, Snackification

Repo rate falls to, 3.5% — its lowest since 1998

Repo rate drops to 3.5% as Reserve Bank predicts a 7.3% contraction in South Africa’s GDP The post Repo rate falls to, 3.5% — its lowest since 1998 appeared first on The Mail & Guardian.
Tags: Business, Economy, South Africa, Gdp, Gross Domestic Product, Monetary Policy Committee, Reserve Bank, Sarb, Lesetja Kganyago, Top Six, Repo rate, COVID-19, Consumer Inflation, Mamello Matikinca-Ngwenya, Nicky Weimar, Target Range

Unmortgage founder’s new startup wants to make it free to sell your house

Having left his previous company under unceremonious circumstances, Rayhan Rafiq-Omar, who founded Unmortgage, is launching his next proptech venture. Called, the startup wants to eradicate listing fees when selling your house, as well as streamlining other parts of the house selling process. Instead of charging for a listing on Rightmove, it hopes to make money in commissions if you also let the company find you a suitable mortgage. Prospective house buyers can also use as...
Tags: TC, Technology, Money, Finance, Tech, Economy, United Kingdom, Commission, Rightmove, Purplebricks, Unmortgage, Rafiq Omar,, Rayhan Rafiq Omar

Your Perceptions Will Control Your Outcome and Life

In this article Harrison discusses that the meaning you give to things will control the quality of your life. How we feel about ourselves is all due to what we tell ourselves certain things will... By Harrison Barnes
Tags: Featured, Suicide, Relationships, Careers, Success, Economy, High School, Basketball, Self Awareness, Breakup, Self Esteem, Assumptions, Popularity, High School Sports, Meaning, Job Loss

L.A. County Fair CEO Miguel Santana says he’s ready to move on

After four years of sweeping organizational changes and working to improve community relations in and around Pomona, Fairplex President and CEO Miguel A. Santana won’t seek an extension to his contract when it expires in January 2021. The coronavirus pandemic and its economic impact on Fairplex, home to the Los Angeles County fairgrounds, helped bring Santana to his decision to step down, he said. Meanwhile, Santana said, he has found himself focusing more on issues of equity in L.A. County. “I ...
Tags: News, Los Angeles, Sport, Economy, Soccer, Miguel, Pomona, Los Angeles County, Santana, Hernandez, LA County, Hanson, Henwood, Fairplex, Miguel Santana, Pomona Fairplex

Swift Economic Recovery in GM CEO’S Crystal Ball

General Motors CEO Mary Barra predicted a brief recession and streamlined economic recovery in a recent interview. Mixed in with favorable coverage of how the company saved Michigan’s Governor Gretchen Whitmer by manufacturing personal protective equipment intended to combat the pandemic, the Detroit Free Press took time out to get Barra’s expert opinion on various subjects. She […] The post Swift Economic Recovery in GM CEO’S Crystal Ball appeared first on The Truth About Cars.
Tags: Recession, General Motors, Economy, Mary Barra, Gm, Autos, Michigan, Auto Sales, Detroit Free Press, Barra, News Blog, Pandemic, Gretchen Whitmer, COVID-19, Swift Economic Recovery

Is your net worth too closely tied to your company’s success?

Peyton Carr Contributor Share on Twitter Peyton Carr is a financial advisor to founders, entrepreneurs and their families, helping them with planning and investing. He is a managing director of Keystone Global Partners. More posts by this contributor How to approach your IPO stock How to build or invest in a startup without paying capital gains tax Now that I’ve offered an overview to help you t...
Tags: Fundings & Exits, Startups, TC, Column, Entrepreneurship, Finance, Ipo, Funding, Tech, Investment, Economy, Ikea, Treasury, Stock Market, Exit, Zuckerberg

The Next Economic Stimulus Payment – When Will it Come and How Much Will I Get?

[Second Stimulus Check Update] Congressional leaders have agreed in principle that a second stimulus check will be paid in 2020, given the ongoing economic fallout from the COVID crisis. This CARES 2... Read the rest of the post...
Tags: Marketing, Economy, Stimulus, Government Rebates and Payments