Cash
After the murder of George Floyd in Minneapolis set off social justice protests and a racial reckoning in the summer of 2020, California created a task force to look into the issue of reparations. A nine-member panel conducted research on the harm done to the state’s roughly 2.5 million Black residents by systemic racism and […]
For the 19th consecutive year, a penny cost more to produce than it’s worth. There have been other times pennies have cost more than 1¢, but this is its longest losing streak. They now cost 3¢, while nickels cost 11.5¢. Producing these two coins last year cost the U.S. Mint $179 million. Meanwhile, $100 bills […]
In the absence of any major macroeconomic data due to Thanksgiving, the markets remained relatively quiet last week. However, the return to business is already underway, and Black Friday sales will be closely scrutinized. Any (abnormal) weakness in the US consumer could rekindle fears of a slowdown in the world’s leading economy. Due to a […]
Using fake names, sham LinkedIn profiles, counterfeit work papers and mock interview scripts, North Korean IT workers seeking employment in Western tech companies are deploying sophisticated subterfuge to get hired. From a report: Landing a job outside North Korea to secretly earn hard currency for the isolated country demands highly-developed strategies to convince Western hiring […]
A $5.93 mobile phone holder seemed like a gamble worth taking for Michelle Zhang. During the past year, she has become a regular shopper on the cut-price ecommerce app Temu, mostly purchasing home and kitchen appliances. “Things on Temu are usually less than half of their prices on Amazon, and you don’t have to purchase […]
Just because a business does not make any money, does not mean that the stock will go down. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. Having said that, unprofitable companies are risky because they could potentially burn through all their […]
An electronic board shows Shanghai and Shenzhen stock indices at the Lujiazui financial district in Shanghai, China, March 17, 2023. REUTERS/Aly Song/File photo Acquire Licensing Rights
President Joe Biden said he was committed to closing the racial wealth gap at a campaign fundraiser hosted by prominent Black business leaders in New York on Monday, seeking to highlight the economic gains for Americans under his administration. “Black Americans play a critical role in the economy, and disparities exist in every dimension in […]
NEW YORK, Aug 18 (Reuters) – Several indicators that pointed to upside for U.S. stocks this year have shifted to a more neutral outlook, potentially leaving equities vulnerable to turbulence from a recent surge in bond yields and
Warren Buffett, chairman and CEO of Berkshire Hathaway. Daniel Zuchnik/WireImage Warren Buffett can’t find bargains the way he used to. On Saturday, his Berkshire Hathaway reported its cash pile reached $147 billion while operating profits jumped 7% year-on-year to $10 billion in the second quarter. That’s a solid performance, but the growing hoard of cash, […]