First Quarter figures are in, and they are not pretty. The country’s GDP grew at a three-year low rate of only 0.7 percent during the first three months of 2017, the slowest growth since January-March 2014. The news of the poor economic performance comes in stark contrast to the great expectations held by newly elected… Continue Reading
Reach back in memory to January and the well-publicized meeting between newly inaugurated US President Donald Trump and Executive Chairman Jack Ma of Chinese mega-company Alibaba. At that meeting Ma made a pledge to launch an online sales platform which would give at least 1 million small US businesses a chance to market their wares… Continue Reading
According to a study conducted by personal finance site NerdWallet, it sometimes makes more sense to hold onto your frequent flyer points and use cash to pay for your plane ticket. The new summer travel study showed that in a few specific circumstances, using reward points is a financial mistake. NerdWallet examined 20 of the… Continue Reading
Due to huge cost overruns in two projects in Georgia and South Carolina, Westinghouse, the US nuclear division of Toshiba, has filed for bankruptcy protection. The losses have negatively affected the Japanese parent company, Toshiba putting the future of the conglomerate at risk. Toshiba announced that the bankruptcy will not harm Westinghouse, UK, which has… Continue Reading
Researchers at the University of Vermont have been working to encourage the cultivation of the world’s most expensive spice, saffron. The exotic spice comes from a fall-flowering crocus, which is now grown mostly in Iran. U of V scientists have already been raising the flower and extracting the valuable spice, and now would like to… Continue Reading
Since President Trump issued his first executive order banning refugees from certain countries from entering the United States, there has continued to be a flow of people into the country, since the ban was cancelled a federal judge. Nearly 2,500 refugees have entered the United States from banned countries since the day of the executive… Continue Reading
The Commerce Department reported factory goods orders up by 1.2 percent in January. That increase followed a similar increase of 1.3 percent in December. The two data points signal that the recovery in the manufacturing sector is accelerating due to the rise in prices for commodities fuel a greater demand for machinery. Factory orders are… Continue Reading
Treasury Secretary Steven Mnuchin explained on the Fox News program “Sunday Morning Futures” that President Donald Trump’s first budget proposal will refrain from any cuts to government entitlement programs. He also said that Trump’s scheduled address to the joint session of Congress this coming Tuesday will announce the new administration’s far-reaching plans to cut taxes… Continue Reading
The Department of Commerce reported that US business inventories were up better than expected in December, while sales rose by their biggest percentage since 2011. The announcement said that inventories went up by 0.4 percent, while November’s figure had to be re-stated as 0.8 percent in place of the previously announced 0.7 percent. Business inventories… Continue Reading
The United States government is investing about $1 billion in the power sector of Nigeria, said the coordinator of the program to light up Africa, Andrew Herscowitz. The plan, known as Power Africa, was announced at a media conference in Abuja, Nigeria last week. Herscowitz added that the US government has already committed several billion… Continue Reading