Grab your passport and plane ticket and book your reservations because the travel industry will receive a big boost over the next 10 years as more travelers are hitting the skies to get to their destinations. The global travel industry is expected to increase 5.4 percent each year … [Read more...]
BlackBerry and T-Mobile U.S. licensing agreement dead in the water
BlackBerry confirmed in a statement Tuesday that it will not be renewing its licensing agreement with T-Mobile to sell BlackBerry products in the United States when the current contract expires on Apr. 25, 2014. The struggling Waterloo, Ontario-based company did state that … [Read more...]
Harsh winter weather hurt construction spending in February: Commerce Department
The harsh winter weather was again to blame for bleak economic figures, this time in the area of construction spending, according to numbers released (PDF) Tuesday by the United States Department of Commerce. According to the federal department, construction spending only rose by a … [Read more...]
Chrysler Group automaker of Jeep and Dodge brands saw U.S. auto sales jump 13% in March
Chrysler, the United States automaker of the Jeep, Ram and Dodge brands, reported Tuesday that overall auto sales increased 13 percent last month, a lot higher than initial industry expectations of just two percent. The automobile manufacturer posted its 48th consecutive monthly … [Read more...]
Study finds one-quarter of millionaires are millennials
"Millennials are the first in the modern age to have higher levels of student loan debt, poverty and unemployment, and lower levels of wealth and income than their two immediate predecessor generations," a recent Pew Research report on the group stated. Perhaps the life of a … [Read more...]
New York Times offers two new digital products: NYT Now & Times Premier
This week, the New York Times will be launching two brand new digital products: NYT Now and Times Premier, both services geared toward the average newspaper reader and the New York Times aficionado. According to a press release, NYT Now is an $8 per month product that is supported … [Read more...]
Reverse mortgages targeting seniors are creating another housing crisis
One of the growing trends among seniors in today’s tough economy is the rising turn towards reverse mortgages. What is a reverse mortgage? Well, it’s a financial resource that gives seniors the opportunity to use the equity in their home without any income or credit qualifications. … [Read more...]
Dentist shortage taking a bite out of California: UCLA health study
A dentist in California is hard to find. This is because The Golden State is suffering from a shortage as more and more dental professionals have made the decision to practice out of state, according to a health policy brief by the UCLA Center for Health Policy Research. Although … [Read more...]
Former White House Advisor: Long-term unemployment is the biggest issue we face today
This week, economists at Princeton University published a paper entitled "Are the Long-Term Unemployed on the Margins of the Labor Market?" that painted a bleak picture of the United States economy and labor market: only one in 10 of long-term unemployed individuals will find a job … [Read more...]
Troubled payday loan industry trapping borrowers: CFPB report
A payday loan, otherwise known as a cash advance, was initially designed to cover an unforeseen expense such as a medical emergency, rent or a car loan payment. The payday loan industry has been marred with controversy as well as vitriol from both the government and citizens. A new … [Read more...]
Walmart could be the first big-box retailer to sell lawyer services
The goods and services offered by numerous big-box stores in your area have grown. Whether it’s Walmart or Kmart, Walgreens or Target, a customer can pretty much find anything they want or need: vacuums and optometrists, computers and travel planners, coffee machines and urgent care … [Read more...]
With $100 billion in debt the USPS is on deck for a government bailout
It is widely known that the United States Postal Service (USPS) isn't necessarily on the best financial footing since prior to the Great Recession. In fact, things have gotten so bad for the Post Office that it made headlines late last year when it was reported it defaulted on $5.6 … [Read more...]
Peter Schiff: Fed’s QE creating massive stock, real estate bubbles for 1%
It has long been argued since the beginning of the Federal Reserve’s quantitative easing program that bubbles are being formed and once they burst then the United States economy would be in worse shape than at the height of the Great Recession. Peter Schiff, president of Euro … [Read more...]
Report: Pay-TV subscriptions drop while streaming makes significant gains
It seems more Americans are cutting the cable cord in favor of online streaming capabilities. SNL Kagan, a private research firm, published the results of a study that discovered the total number of Americans who subscribe for cable, satellite and fiber television services declined … [Read more...]
The end of smartphones and beginning of wearables
From the 1930s to 1970s, Dick Tracy was one of the most popular cartoon strips and radio shows in the world. Solving crimes with his yellow fedora hat, quick wit and electronic gadgets, particularly his highly advanced watch, Dick Tracy was as iconic as Coca Cola. Years later, … [Read more...]
BlackBerry lays off 120 employees at Waterloo headquarters
BlackBerry, the once dominant smartphone maker known as Research in Motion (RIM), confirmed Monday that it would be laying off an additional 120 employees in its product development and wireless technology divisions at its headquarters in Waterloo, Ontario. The staff reduction was … [Read more...]
Federal Reserve balance sheet growing out of control reaching $4 trillion in 2013
The Federal Reserve announced Friday that its balance sheet soared to $4 trillion by the end of last year. In efforts to revive the United States economy, the nation’s central bank made immense asset acquisitions of $1.1 trillion as part of its monthly $85 billion quantitative easing … [Read more...]
Obama Band-Aid: Raising minimum wage is not a viable solution
United States President Barack Obama has been arguing as of late for a minimum wage of $10.10 per hour, an increase from the current federal $7.25. He garnered support from a large number of economists in January, but on Friday he received opposition from more than 500 economists … [Read more...]
Amazon Prime gets its first price increase since 2005
Amazon will be raising the cost of its popular Prime membership by $20 to a total of $99 per year, the company stated in an announcement Thursday. This will be the very first hike in the price since the program was launched in 2005. The online retail giant’s student subscription will … [Read more...]
Americans could spend in excess of 60 billion on pets in 2014
It costs a pretty penny to keep pets happy and healthy. In fact, households in the United States spent nearly $56 billion on their dogs, cats and other animals at home. This is a figure that shows Americans are spending more than ever on their pets. The American Pet Productions … [Read more...]
