U.S. jobs market tightens amid slow inflation growth

The number of Americans filing for unemployment benefits fell more than expected last week, pointing to shrinking labor market slack that could allow the Federal Reserve to raise interest rates again this year despite moderate inflation growth. According to Reuters’ report, inflation could remain sluggish for a while as other data on Thursday showed import […]

Tax reform would modernize how U.S. taxes global business income

The U.S. government taxes American corporations on all income earned worldwide. With the highest top marginal tax rate in the developed world, if not the entire world, at nearly 40%, counting state corporate taxes on average, this U.S. taxation is very burdensome, even with tax credits allowed for taxes paid to foreign countries on corporate […]

Economists expect slower US growth- Survey

Forecasts for U.S. economic growth are coming in slightly lower after a weak first quarter, according to a survey of business economists released Monday. The National Association for Business Economists says it’s expecting gross domestic product growth of 2.2 percent this year and 2.4 percent in 2018. Those forecasts are down 0.1 percentage points from […]

US trade deficit widens in April

The US trade gap widened in April for the second straight month as Americans bought more imported consumer goods, the Commerce Department reported Friday. Despite falling oil imports and crude prices, the US trade deficit saw its biggest jump in three months, increasing 5.2 percent or $2.3 billion compared to March to $46.7 billion, with […]

Elon Musk and Disney boss quit Trump’s business panel over Paris pullout

Donald Trump may think tackling climate change is bad for business. But business? Not so much. Two of the US’s biggest business leaders, Tesla founder Elon Musk and Disney’s Robert Iger, have quit Trump’s high-powered business advisory panel after the president pressed ahead with plans to pull out of the Paris climate accord. Am departing […]

Strong U.S. job growth expected in May; wage rise seen moderate

U.S. job growth likely remained strong in May, a further sign of an acceleration in economic activity that would effectively seal the case for an interest rate increase this month despite sluggish wage gains. Nonfarm payrolls probably increased by 185,000 jobs last month, according to a Reuters survey of economists, after surging 211,000 in April. […]

Canada threatens to cancel Boeing order over trade complaint

Canada’s defense minister repeated a threat Wednesday to cancel the purchase of 18 fighter jets from Boeing Co. because of the company’s trade complaint against Canadian plane maker Bombardier, News Republic reports. Harjit Sajjan said Boeing’s action against Bombardier is “unfounded” and not the behavior of a “trusted partner.” He said buying the Super Hornet fighter […]

Fans of cheap drugs and printer ink won big in the Supreme Court

On Tuesday, a scary case reached a surprisingly positive outcome in the Supreme Court of the United States. Impression Products, Inc. v. Lexmark International, Inc. was seven-year-long standoff between a small business and an international corporation and stood to upend the world of consumer rights, especially for tech and pharmaceutical companies. Guess what: the little […]

US consumer spending jumps, as monthly inflation rebounds

U.S. consumer spending recorded its biggest increase in four months in April and monthly inflation rebounded, pointing to firming domestic demand that could allow the Federal Reserve to raise interest rates next month, Reuters reports. The Commerce Department said on Tuesday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased […]

Warthog attack plane finds new life in Trump administration

The Warthog is sitting pretty. Once on the brink of forced retirement, the A-10 attack plane with the ungainly shape and odd nickname has been given new life, spared by Air Force leaders who have reversed the Obama administration’s view of the plane as an unaffordable extra in what had been a time of tight […]