Business/Economy (News/Activism)

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  • Regional report missing, concerns Chinese economy weaker than the government will admit

    12/18/2018 9:57:00 PM PST · by ameribbean expat · 4 replies
    According to Reuters, the regional manufacturing PMI, published monthly by the Guangdong Department of Industry and Information Technology, had been treading lower than the official index until the data series stopped updating in October this year. The series had been produced for seven years. Reuters said that in the last release for September, Guangdong's PMI stood at 50.2, below the official gauge of 50.8 for the month. After several months of silence on the matter, the NBS issued an update on its website earlier this week, claiming it had received complaints in late October that Guangdong had been illegally surveying...
  • IHOP will no longer advertise on Tucker Carlson's Fox News show after he says immigrants are

    12/18/2018 6:01:47 PM PST · by lowbridge · 173 replies
    Business Insider ^ | December 18, 2018 | Kate Taylor
    IHOP is joining the mass of advertisers abandoning Fox News host Tucker Carlson's show after his controversial comments about immigration last week. "At our core, we stand for welcoming folks from all backgrounds and beliefs into our restaurants and continually evaluate advertising to ensure it aligns with our values," IHOP said in a statement to Business Insider. "In this case, we will no longer be advertising on this show." At least 12 advertisers have stopped advertising on the show since last week, according to The Hollywood Reporter, whichfirst reported the news that IHOP was cutting ties with Tucker Carlson's show. Last...
  • Pittsburgh’s new gun bans should be a non-starter

    12/18/2018 5:46:25 PM PST · by rktman · 22 replies ^ | 12/17/2018 | Jazz Shaw
    Assuming the Mayor of Pittsburgh gets his way, tomorrow the City Council will vote on enacting several new gun bans, all of which face immediate questions in terms of their legality. The new laws include a ban on various types of “assault weapons” including rifles, handguns and shotguns. There are also bans on a variety of firearms accessories and the introduction of a new “red flag” law. As our friend Jeff Duntez points out, even if they didn’t face significant Second Amendment issues, most of these laws aren’t permitted under existing state law.
  • N.Y. Attorney General: Trump Foundation Functioned as Checkbook for Trump's Interests

    12/18/2018 5:39:25 PM PST · by rktman · 51 replies ^ | 12/18/2018 | Susan Jones
    Under pressure from the courts and the New York attorney general, the Trump Foundation has agreed to dissolve under judicial supervision. Attorney General Barbara Underwood announced on Tuesday that the Foundation's remaining assets will be distributed to charities approved by her. And the lawsuit filed by the AG isn't over. According to Underwood's announcement, the lawsuit -- which seeks millions in restitution and penalties and a bar on President Trump and his three eldest children from serving on the boards of other New York charities -- remains ongoing.
  • Williamson County to vote on 15-year incentive deal for Apple campus

    12/18/2018 9:27:27 AM PST · by bgill · 18 replies
    kxan ^ | Dec. 14, 2018 | Will DuPree
    Williamson County commissioners are set to vote Tuesday on an incentive deal that would pay back 65 percent of property taxes to Apple over 15 years so that the tech giant could expand its operations in north Austin. Apple announced Thursday that it would spend $1 billion to build a second campus in Austin and create 5,000 new jobs. The proposed site for the 133-acre building is located on the Williamson County side of the city on an undeveloped property near Parmer Lane and McNeil Road. According to the proposed contract shared by Williamson County Friday, the incentive deal would...
  • All in for Democrats? Scarborough Praises ‘the Obama Recovery

    12/18/2018 8:28:39 AM PST · by governsleastgovernsbest · 42 replies
    NewsBusters ^ | Mark Finkelstein
    It's one thing for Joe Scarborough to criticize President Trump regarding various controversies. But when Scarborough brazenly boasts about the "Obama recovery," and thanks President Obama for it, you know that the former Republican has gone all-in with the Democrats. Playing off the recent drop on Wall Street, Morning Joe opened today by mocking Trump for his positive comments on the market back in August. Fine. But Scarborough then took things a servile step further, declaring: "This tax cut that was passed, was promised, actually, pump the prime [sic] and, you know, we're going to put another $1 trillion or...
  • New York AG hopes to destroy Trump

    12/18/2018 7:18:22 AM PST · by rktman · 25 replies ^ | 12/18/2018 | Mychal Massie
    Letitia James, the attorney general elect of New York, has made it known that she is not interested in doing her job. She is interested in pretending to serve the people of New York as the chief law enforcement person. In reality she is pandering to her Democratic handlers, hoping that at the end of the day that she will receive a biscuit and a pat on the head. Rather than focusing on prosecuting crime, making the streets safer for New Yorkers, working to combat wealthy child sexual predators and working with law enforcement and local community residents to make...
  • Amazon feels heat from employees on climate change and disclosing its efforts

    12/18/2018 6:31:38 AM PST · by Oldeconomybuyer · 17 replies
    The Seattle Times ^ | December 17, 2018 | By Benjamin Romano
    Storm-driven data-center outages, production disrupted by flooding, forest-fire smoke choking workers at the corporate headquarters — already in 2018, Amazon has experienced at least a half dozen notable disruptions to its operations connected to climate change, according to a group of employees urging the company to be more transparent with its response to the global threat. About 16 Amazon employees, who are also company shareholders thanks to stock-based compensation, have filed a shareholder resolution asking the company’s board of directors to publicly report on how the Seattle-based commerce giant “is planning for disruptions posed by climate change, and how Amazon...
  • Time for a Fed Pause

    12/18/2018 5:56:33 AM PST · by Moonman62 · 7 replies
    WSJ ^ | 12/18/18 | The Editorial Board
    Inflation and other economic signals justify interest-rate caution. If you think your job is tough, consider Federal Reserve Chairman Jerome Powell. He’s signaled for months that the Fed will raise interest rates again this week, but economic and financial signals suggest he should pause. Meanwhile, Donald J. Trump is beating him up almost daily not to raise rates. What to do? The right answer is to ignore the politics, inside and outside the Fed, and follow the signals that suggest a prudent pause in raising rates...
  • I hope the people over at the Fed will read today’s WSJ Editorial before they make another mistake.

    12/18/2018 5:38:26 AM PST · by Moonman62 · 43 replies
    Twitter ^ | 12/18/18 | President Trump
    I hope the people over at the Fed will read today’s Wall Street Journal Editorial before they make yet another mistake. Also, don’t let the market become any more illiquid than it already is. Stop with the 50 B’s. Feel the market, don’t just go by meaningless numbers. Good luck!
  • France to introduce digital tax in new year

    12/17/2018 11:01:49 PM PST · by aquila48 · 10 replies
    BBC ^ | 17 December 2018
    France has said it will introduce its own tax on big technology firms from 1 January after EU-wide efforts stalled. French Finance Minister Bruno Le Maire said he expected it to bring in €500m (£450m) in 2019. France, along with Germany, had been pushing for the European Commission to agree measures by the end of this year. But it is opposed by countries including Ireland, the Czech Republic, Sweden and Finland. Earlier this year, the European Commission published proposals for a 3% tax on the revenues of large internet companies with global revenues above €750m (£675m) a year and taxable...
  • Leslie Moonves won't get a $120 million payout

    12/17/2018 4:45:26 PM PST · by SMGFan · 32 replies
    EW ^ | December 17, 2018
    No generous severance package for former CBS Corp. chairman and CEO Leslie Moonves. The CBS board of directors announced Monday that it has completed its investigation into the myriad allegations of sexual misconduct against its former chief and has decided there are grounds to “terminate for cause.” The most recent hit against the embattled executive came last month in the New York Times, which quoted a former actress named Bobbie Phillips who alleged that Moonves forced himself on her in 1995, when he ran Warner Bros. Television. The story came almost three months after a bombshell report in The New...
  • Climate change: The massive CO2 emitter you may not know about

    12/17/2018 1:10:07 PM PST · by Oldeconomybuyer · 62 replies
    BBC "News" ^ | December 17, 2018 | By Lucy Rodgers
    Concrete is the most widely used man-made material in existence. It is second only to water as the most-consumed resource on the planet. But, while cement - the key ingredient in concrete - has shaped much of our built environment, it also has a massive carbon footprint. Cement is the source of about 8% of the world's carbon dioxide (CO2) emissions, according to think tank Chatham House. If the cement industry were a country, it would be the third largest emitter in the world - behind China and the US. It contributes more CO2 than aviation fuel (2.5%) and is...
  • It is incredible that with a very strong dollar and virtually no inflation... [Trump Tweet]

    12/17/2018 10:37:46 AM PST · by Moonman62 · 97 replies
    Twitter ^ | 12/17/18 | President Trump
    It is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!
  • Is the National Rifle Association dying?

    12/17/2018 9:48:56 AM PST · by rktman · 78 replies ^ | 12/17/2018 | Peter Skurkiss
    Liberal opinion writer E.J. Dionne, Jr. of the Washington Post thinks so. He writes that the power and influence of the National Rifle Association has been broken. What he serves up as proof is the 2018 election, the one where the Republicans under the inept leadership of Paul Ryan lost the House of Representatives. It is worth considering Dionne's argument if for no other reason than to gain insight into the liberal mind. After all, he speaks for many on the Left, and to defeat the enemy it is necessary to know them. Before he makes his case that the...
  • How McKinsey Has Helped Raise the Stature of Authoritarian Governments

    12/17/2018 9:31:07 AM PST · by C19fan · 2 replies
    NY Times ^ | December 15, 2018 | Walt Bogdanich and Michael Forsythe
    This year’s McKinsey & Company retreat in China was one to remember. Hundreds of the company’s consultants frolicked in the desert, riding camels over sand dunes and mingling in tents linked by red carpets. Meetings took place in a cavernous banquet hall that resembled a sultan’s ornate court, with a sign overhead to capture the mood. “I can’t keep calm, I work at McKinsey & Company,” it said. Especially remarkable was the location: Kashgar, the ancient Silk Road city in China’s far west that is experiencing a major humanitarian crisis. About four miles from where the McKinsey consultants discussed their...
  • Georgetown renegotiating solar, wind power contracts (Texas Renewable Energy FAIL)

    12/17/2018 8:34:26 AM PST · by TADSLOS · 39 replies
    Austin American Statesman ^ | 16 December 2018 | Claire Osborne
    GEORGETOWN — The city of Georgetown’s bill for wind and solar energy ended up being $8.6 million more than anticipated in fiscal year 2018 because the falling prices of oil and gas meant it had to sell its surplus renewable power for less than forecast, said City Manager David Morgan. The city had budgeted $45 million for renewable energy but ended up paying $53.6 million, he said. Georgetown was able to reduce the $8.6 million unanticipated extra to $6.8 million through savings from lower capital improvement utility project costs, Morgan said. It paid the remaining $6.8 million with reserves from...
  • Will You Have to Pay the Netflix Tax?

    12/17/2018 8:12:57 AM PST · by therightliveswithus · 67 replies
    The Hill ^ | 12/16/2018 | Kristin Tate
    Chicago has won a legal battle allowing its wasteful “amusement tax” to be levied on everyday people. Residents who enjoy gaming will now have to pay a 9 percent tax for streaming services they buy through Playstation. They also have to pay this 9 percent tax on other streaming services for entertainment like Netflix, Spotify, and Hulu. The amusement tax is one of multiple examples of government using its ability to pick the pockets of the populace to select winners and losers in the market while paying its bills with money that citizens often do not realize they are spending....
  • U.S. Navy May Stop Docking In Haifa After Chinese Take Over Port

    12/17/2018 5:11:23 AM PST · by cba123 · 14 replies
    The Jerusalem Post ^ | 12/15/2018 | MICHAEL WILNER
    The USS George H.W. Bush docked in northern Israel's Haifa Port, July 3, 2017 (photo credit: MARC ISRAEL SELLEM/THE JERUSALEM POST) -- WASHINGTON – The US Navy has acknowledged that its longstanding operations in Haifa may change once a Chinese firm takes over the civilian port in 2021, prompting Israel’s national security cabinet to revisit the arrangement, The Jerusalem Post has learned. (Please see link for full article)
  • China trade steps seen as good start but leave core US demands untouched

    12/17/2018 1:27:50 AM PST · by cba123 · 2 replies
    Channel NewsAsia ^ | 17 December, 2018
    The United States has welcomed Chinese concessions since the two declared a trade war truce in early December, but trade experts and people familiar with negotiations say Beijing needs to do far more to meet U.S. demands for long-term change in how China does business. Read more at