#Economy

  • U.S. consumer spending picking up, gasoline prices a threat

    WASHINGTON (Reuters) – U.S. retail sales increased marginally in April as rising gasoline prices cut into discretionary spending, but consumer spending appeared on track to accelerate after slowing sharply in the first quarter. The economic outlook got a boost from other data on Tuesday showing factory activity regaining momentum...
  • Walmart makes a $16 billion bet on India’s booming economy

    NEW YORK (AP) — Walmart will soon reach shoppers in India’s massive consumer market directly, as it takes control of the online retailer Flipkart that’s known for its ubiquitous delivery drivers on their motorcycles with oversized backpacks. The $16 billion controlling stake, announced Wednesday, is the largest acquisition yet...
  • Sanctions on Iran could cost US, European companies billions

    Since the Iran nuclear accord was struck in 2015, it has been mostly European companies that moved back in to sign deals with Iran. Europe traditionally has had closer business and diplomatic ties than the U.S., where the legacy lingers from the seizure of hostages at the American embassy...
  • Putin’s dwindling optimism about Russia becoming the fifth largest economy

    Earlier this week, Vladimir Putin made a bold claim: By the end of his current six-year plan, in 2024, Russia would become the world’s fifth-largest economy. That’s a big jump from its current position, at 12th, behind Canada and South Korea. It’s good to set ambitious goals. But they...
  • Gold is beating the stocks so far this year

    REUTERS/Beawiharta • Gold is beating the S&P 500 this year by a decent margin. • Gold has been under pressure by a strengthening dollar, but is still a relative outperformer. • Demand in India weakened momentarily, but monsoons could quickly change that. • China’s demand is relatively healthy. Gold...
  • California now world’s 5th largest economy, surpassing UK

    SACRAMENTO, Calif. (AP) — California’s economy has surpassed that of the United Kingdom to become the world’s fifth largest, according to new federal data made public Friday. California’s gross domestic product rose by $127 billion from 2016 to 2017, surpassing $2.7 trillion, the data said. Meanwhile, the UK’s economic...
  • Unemployment rate falls to lowest since 2000

    U.S. employers stepped up hiring modestly in April, and the unemployment rate fell to 3.9 percent, evidence of the economy’s resilience amid the recent stock market chaos and anxieties about a possible trade war. Job growth amounted to a decent 164,000 last month, up from an upwardly revised 135,000...
  • Tax Cuts Seen Halting Retreat in U.S. Retail Sales

    Tax cuts have given a boost to Americans’ take-home pay this year. The question hanging over the U.S. economy is whether they are putting the extra cash toward savings and debt, or using it to go shopping. Retail-sales data due Monday from the Commerce Department will help provide an...
  • Nashville, Tennessee has the lowest unemployment rate in the US

    Nashville, Tennessee, is known as “Music City.” Now it can be known as “Job City” too. According to the the Bureau of Labor Statistics, Nashville, Tennessee, had the lowest unemployment rate—2.7%—of any metropolitan area in the US with over one million people as of February 2018. Nashville even beats...