U.S. retail sales unexpectedly fell in June as households cut back on purchases of automobiles and a range of other goods, raising concerns the economy was slowing again.
Tags: Labor Department
Joe Biden New Rule Granting Overtime Pay to 4 Million Workers Challenged by US Business Groups
A coalition of US business groups has initiated a legal action to block a Biden administration rule that will extend mandatory overtime pay to four million workers.
Tennessee Cleaning Company Fined $650,000 for Illegally Hiring Children, Some as Young as 13, to Clean Dangerous Slaughterhouses
A cleaning company in Tennessee has agreed to pay nearly $650,000 after a federal probe found it had employed over 20 children to clean dangerous slaughterhouses in Virginia and Iowa.
Growth in U.S. employment could make Fed hike interest rate
American employers increased jobs at a quick pace last September, a signal that the labor market is close to full strength. This trend could possibly persuade the Federal Reserve to raise interest rates at one of its two remaining meetings this year, according to the Business Insider.
Americans badly need good investment advice on retirement plans
It's estimated that savings of Americans for retirement is at a whopping $17 billion per annum. But is it in the safe hands. The conflicted financial advice is costing the US citizens billions of dollars.
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Anxiety about Greece may keep Wall Street on edge early in the week, as the country moves toward what was once thought unthinkable: a default and a full exit from the euro zone.
U.S. job growth was likely solid in May and wages probably picked up a bit, suggesting sufficient momentum in the economy for the Federal Reserve to raise interest rates later this year.
Contracts to buy previously owned U.S. homes rose for a fourth straight month in April to a nine-year high, buoying the outlook for the housing market and the overall economy.
U.S. producer prices resumed their downward trend in April as the cost of energy fell and a strong dollar kept underlying inflation pressures benign, supporting views that the Federal Reserve will only raise interest rates later in the year.
U.S. small business owners gained confidence in April and were surprisingly bullish about capital expenditure plans, further supporting views that economic growth was rebounding after a dismal first quarter.
U.S. wholesale inventories unexpectedly rose in January as sales recorded their biggest decline since 2009, lifting the number of months it would take to clear warehouses to its highest level in more than 5-1/2 years.
The number of Americans filing new claims for unemployment aid last week rose to its highest level since May, but economists dismissed the increase as weather-related and said the jobs market remained solid.
President Barack Obama will direct the Department of Labor on Monday to proceed with new rules that would rein in conflicts of interests among Wall Street brokers who advise clients on retirement investments, administration officials said.
A top economic adviser of U.S. President Barack Obama has called for tighter regulations on Wall Street brokers, saying abusive trading practices were costing billions of dollars to clients in their retirement savings each year, Bloomberg reported.
