07/21/2019

News

U.S. Inflation Continues Recovery But Remains Below Fed Target

U.S. inflation continued to recover in May from a sharp slowdown earlier this year, a trend that could ease the Federal Reserve’s worries about weak price pressures while potentially tempering investors’ hopes for an interest-rate cut next month. The Fed’s preferred inflation gauge, the price index for personal-consumption expenditures, rose a seasonally adjusted 0.16% in […]

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Apple Moves Mac Pro Production To China

Apple Inc. is manufacturing its new Mac Pro computer in China, according to people familiar with its plans, shifting abroad production of what had been its only major device assembled in the U.S. as trade tensions escalate between the Trump administration and Beijing. The tech giant has tapped contractor Quanta Computer Inc. to manufacture the […]

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‘The Dreamt Land’ Review: California’s Precious Resource

The Golden State is cursed with some of the finest weather and richest soil on earth. Its luminous skies and airy loam have been crucial to California’s transformation into our most populous and agriculturally most bountiful state. But capricious nature has withheld one essential resource needed to sustain this dizzying growth—water. In his sprawling, provocative […]

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U.S. Industrial Production Rebounded In May

U.S. industrial production rose in May, a welcome sign of strength in the sector after a spate of weak readings this year. Industrial production, a measure of factory, mining and utility output, rose a seasonally adjusted 0.4% in May from the prior month, the Federal Reserve said Friday. Economists surveyed by The Wall Street Journal […]

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Homelessness Grows In California Despite New Government Spending

California’s homeless population is going up despite billions of dollars in taxpayer-funded efforts, according to recently released data and officials. Homelessness jumped 12% and 16% from a year ago in the county and city of Los Angeles, respectively, according to figures released this week based on a count conducted in January. The tally showed 58,936 […]

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U.S. Added 75,000 Jobs In May As Hiring Slowed

Employers tapped the brakes on hiring in May, signaling companies are taking a more cautious approach at a time of cooling global growth and trade tensions and adding to other signs of a spring slowdown in the decadelong U.S. economic expansion. The economy added 75,000 jobs in May, marking the 104th straight month of gains, […]

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Tesla Begins Taking Orders On Its Cheaper China-Built Model 3s

Tesla Inc.promised to start delivering Model 3 sedans built at its new Shanghai plant within six to 10 months—and priced them well below the imported version—as the electric-vehicle maker races to capitalize on booming Chinese demand. Offering up details on its China strategy, Tesla said prices for the locally built Model 3 will start from […]

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U.S. Inflation Shows Signs Of Life In April

U.S. inflation picked up in April after a very weak start to the year, a development that could help to ease Federal Reserve officials’ recent concerns about tepid price pressures. The Fed’s preferred inflation gauge, the price index for personal-consumption expenditures, rose a seasonally adjusted 0.31% in April from March and 1.51% from a year […]

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U.S. New-Home Sales Fell In April

New-home sales in the U.S. declined in April, posting the largest monthly drop since the end of last year, but there are signs the market for new homes is brightening. Purchases of newly built single-family homes—a relatively narrow slice of all U.S. home sales—declined 6.9% to a seasonally adjusted annual rate of 673,000 in April, […]

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One-Quarter Of Working Americans Have Zero Retirement Savings

Many American households remain financially fragile and uncertain about their retirement prospects despite a booming job market that is lifting wages, according to a Federal Reserve survey released Thursday. One-quarter of working individuals say they have no retirement savings at all, the survey said, and 44% worry that their saving isn’t on track. Among younger […]

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Retail Sales Declined In April

Spending at U.S. retailers declined in April, signaling hesitation among consumers as the second quarter began. Retail sales, a measure of purchases at stores, restaurants and online, declined a seasonally adjusted 0.2% in April from a month earlier, the Commerce Department said Wednesday. The drop fell short of economists’ expectations for a slight increase. It […]

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U.S. Student-Loan Program Now Runs Deficit, CBO Estimates

U.S. officials no longer think the government will make money off the federal student-loan program and now project it will cost taxpayers tens of billions of dollars in coming years, according to a new congressional estimate. The program is losing money after a surge of borrowers defaulting on loans or enrolling in plans that ultimately […]

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Trump Tax Cut To Be Eroded Next Year By Inflation Switch

Last year’s big tax cut is about to start shrinking. The Internal Revenue Service on Thursday announced the tax code’s parameters for 2019, implementing a new method for making inflation adjustments that will result in higher tax payments—and government revenue—over time. The shift will cost Americans $133.5 billion over a decade, according to Congress’s Joint […]

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Germany’s Dirty Green Cars

Germany’s worst industrial scandal in recent memory arrived when auto companies fiddled with emissions tests to make diesel cars seem greener than they are. Now a new study suggests that electric cars touted as a diesel alternative also aren’t so great for the environment. A study this month by the IFO think tank in Munich […]

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Electric Vehicles Hit A Speed Bump

Investors who bet on the rapid growth of electric vehicles in China are getting a shock. Umicore , UMICY -0.83% a big player in the electric-vehicle supply chain, issued a profit warning Tuesday, sending its stock down 15%. The Chinese government cut subsidies for electric vehicles by more than expected last month, and Umicore is […]

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