John Williams assumes influential role at most powerful regional Fed bank

John Williams assumes influential role at most powerful regional Fed bank

John Williams will assume his new role as head of the New York Fed on Monday, after being appointed to the powerful post in early April. Continue Reading Below As he takes over the second most influential position within the U.S. central banking system, Williams will be awarded a permanent seat – and vote – on the Federal Open Market Committee (FOMC). He has served as president at the San Francisco branch since 2011, where…

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Import now to beat tariffs on goods from China? It will cost

Import now to beat tariffs on goods from China? It will cost

New tariffs on imports from China may leave American companies with a choice — pay a higher freight bill now or pay the tariffs starting in three weeks. Continue Reading Below It can take several weeks for ship-borne cargo from China to reach the United States — too late to beat the July 6 deadline. That could lead to more demand in the short run for air-freight services. “The only question is how much do…

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Theranos founder Elizabeth Holmes resigns from firm she founded

Theranos founder Elizabeth Holmes resigns from firm she founded

Disgraced blood-testing firm Theranos said late Friday that founder Elizabeth Holmes has resigned as CEO, but remains chair of the board. Continue Reading Below Holmes, who left Stanford University’s School of Engineering in 2003 to build Theranos, has been replaced by the much-diminished firm’s general counsel, David Taylor, who remains the company’s top lawyer. Holmes and Theranos were charged with raising more than $700 million from investors through a fraudulent scheme that took place over…

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Why Trump’s solar panel tariff is hurting this US company

Why Trump’s solar panel tariff is hurting this US company

In January, President Trump mandated a 30% tariff on solar equipment manufactured abroad, a decision largely aimed at China and intended to reduce the prices of solar panels. Continue Reading Below But now, one U.S.-based company is saying the tariff had the opposite effect. SunPower, the nation’s second-biggest commercial solar-power company, reportedly pays an additional $2 million per week because of the tariff. “There’s collateral damage when you’re on the frontlines like i am,” SunPower…

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Americans feel power to spend

Americans feel power to spend

article Wallet, Sale, European Union Currency, Currency, Paper Currency (iStock) More Americans are feeling the power of their wallets largely due to improving job prospects, as unemployment sits at an 18-year low of 3.8% and incomes are steady. Continue Reading Below The University of Michigan’s latest read on consumer sentiment for mid-June rose to a level of 99.3 a 4.5% jump from the year-ago period. Richard Curtain, chief economist of surveys of consumers for the…

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Here’s how much New Jersey sports bettors are likely to spend

Here’s how much New Jersey sports bettors are likely to spend

Gamblers in New Jersey could spend as much as $10 billion each year once the sports-betting market fully matures in the state, which legalized it after a highly contended, landmark Supreme Court ruling last month. Continue Reading Below “The state of Nevada bets about $5 billion on sports in a year,” said Joe Asher, the CEO of British bookmaker William Hill.  “And my view is, once the New Jersey market is fully mature and all…

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Apple, Oprah to team up in creating original content

Apple, Oprah to team up in creating original content

CBS host urges Oprah to run for president Trump 2020 campaign media advisory board member Gina Loudon and former “Hillary for America” finance committee member Al Mottur discuss how CBS host Gayle King pushed Oprah Winfrey to run for president during her interview on “This Morning.” Apple announced its latest move to push into original entertainment, with the company signing a multi-year deal with Oprah Winfrey to create original programming. Continue Reading Below Apple is…

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Oil down sharply – will gasoline prices to follow?

Oil down sharply – will gasoline prices to follow?

Oil prices were under pressure Friday, falling ahead of the Organization of the Petroleum Exporting Countries’ (OPEC) meeting in Vienna next week. Continue Reading Below The sentiment is that the group will increase oil output, changing its strategy a bit after OPEC and key non-OPEC countries, including Russia, agreed to cut oil output in January 2017 to get rid of the excess supply that sent oil into a bear market with U.S. crude falling to around…

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Canada Goose soars to a record as coat maker turns a profit

Canada Goose soars to a record as coat maker turns a profit

Canada Goose shares set a new record as traders reacted to the company’s unexpected profit and what is an optimistic outlook from the maker of luxury parkas that cost around $1,000. Continue Reading Below Ticker Security Last Change %Chg GOOS CANADA GOOSE HLDGS 56.60 +10.75 +23.45% In the three months ended March 31, the cold weather gear maker earned CDN $8 million compared to a loss of CDN$23.4 million in the fourth quarter of 2017….

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Maximize your health savings account benefits with these simple steps

Maximize your health savings account benefits with these simple steps

An increasing number of Americans are taking advantage of health savings accounts (HSAs), but there are strategies they are not employing to maximize contributions to these tax-advantaged coverage plans. An HSA is an account where an individual contributes pre-tax dollars for the explicit purpose of spending those funds on future medical expenses. HSAs can be used to cover everything from dental, vision and prescription costs to Medicare premiums. Continue Reading Below One-in-four employees with access…

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