Author: Press Room
A dollar a day was the typical wage when the railroads were being built. Today the minimum wage is $58 per day with discussions to raise it to $120. According Milton Friedman, this is the result, not the cause, of inflation. Dr. Friedman researched inflation back to the Romans and concluded the reason for inflation is the government printing of money. He referred to inflation as “taxation without representation.” The resent 9% inflation spike experienced in June of 2022 is permanent. There are no plans to deflate or reduce that 9% going forward. There appears to be only plans attempting…
New Bill on Credit Cards Could Wipe Out Rewards Programs: Southwest Southwest Airlines said a new bill in Congress could “completely end” loyalty rewards programs. It’s taking aim at the Credit Card Competition Act, which seeks to lower credit card fees. Airlines like Southwest say the bill cuts funds from payment networks, who’d be less willing to offer rewards. [Business Insider] Mastercard is trying to create a credit card with a special fragrancegetty When You Think About Your Credit Card, Does a Fragrance Come to Mind? Corporations are now mimicking fashion designers and hiring development firms to create a signature…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.European private equity firm CVC Capital Partners has postponed plans to float until next year because of market turbulence, according to two people with direct knowledge of the decision.The delay to CVC’s plans to list in Amsterdam extends a two-year saga over whether it will follow rivals on to the public markets. CVC previously postponed its plans to list in the aftermath of Russia’s invasion of Ukraine last year.Poor earnings results from publicly traded peers EQT and Blackstone in recent weeks, the…
© Reuters. FILE PHOTO: Newly elected Speaker of the House Mike Johnson (R-LA) delivers remarks on the outer steps of the House of Representatives after he was elected to be the new Speaker at the U.S. Capitol in Washington, U.S., October 25, 2023. REUTERS/Nathan How WASHINGTON (Reuters) -U.S. House of Representatives Speaker Mike Johnson said on Wednesday he plans to hold a vote on a standalone Israel aid bill despite a Congressional Budget Office report showing it could increase the federal deficit. In the first major legislative action under Johnson, House Republicans unveiled their bill on Monday seeking to provide…
© Reuters. In the technology services sector, Thomson Reuters (NYSE:) has reported its Q3 earnings, marking the fourth consecutive quarter of beating EPS estimates. The company posted earnings of $0.82 per share, a 20.59% surprise over the Zacks Consensus Estimate. This figure represents an increase from the Q3 earnings of $0.59 per share reported in the same period last year. However, the company’s Q3 2023 revenues of $1.59 billion fell slightly short of revenue estimates by 0.50%, narrowly surpassing last year’s Q3 revenue of $1.57 billion. Investors are using tools such as the Zacks Rank to track changes in consensus…
© Reuters. MOSCOW (Reuters) – Russia’s hasty restoration of a “damper” subsidy for oil refiners will not only cost the state budget 400 billion roubles ($4.3 billion) in subsidies this year, but also a one-off 350 billion roubles in taxes, Reuters calculations show. The outcome shows the difficulty, five months before a presidential election, of trying to finance the soaring cost of war in Ukraine while also attempting to subsidise fuel for a population and industry struggling with soaring inflation. Russia halved the “damper” in September. But refiners began exporting more, encouraged also by the weakness of the rouble, causing…
Schneider National Q3 2023 Earnings Preview
A bipartisan pair of lower chamber lawmakers are calling on the heads of the House Appropriations Committee to consider additional funding support to first responders in border communities.Reps. Ruben Gallego, D-Ariz., and Michael McCaul, R-Texas, sent a letter to House Appropriations Committee Chairwoman Kay Granger, R-Texas, and ranking member Rosa DeLauro, D-Conn., requesting supplemental funding for first responders in communities hit hard by the southern border crisis.”As you consider potential supplemental appropriations for Fiscal Year (FY) 2024, we request that any supplemental funding package include funding for critical programs to aid first responders in communities impacted by immigration,” the lawmakers…
Republican presidential candidate and Florida Gov. Ron DeSantis likes to wear cowboy boots. Menswear experts and others have alleged DeSantis wears lifts in his boots to make him look taller. It’s become one of the foremost talking points about him at a time when he needs positive press. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Republican presidential candidate and Florida Gov. DeSantis is no stranger to playing the heel.Whether it’s unilaterally replacing two elected district attorneys in Florida, enacting and strengthening the state’s…
WASHINGTON, D.C., UNITED STATES – OCTOBER 25: US President Joe Biden at the White House in … [+] Washington D.C., United States on October 25, 2023. The Biden administration has approved over $100 billion in student loan forgiveness. (Photo by Celal Gunes/Anadolu via Getty Images)Anadolu via Getty Images Borrowers have officially resumed repayment on federal student loans after a three-year hiatus. While the Biden administration implements a number of student loan forgiveness initiatives, the Education Department is also trying to ease the transition back to repayment. But borrowers are reporting widespread problems. Those who were covered by the student loan…