More taxpayers renounce ties with US

February 8th, 2016  // News

Treasury Department data show that 4,279 people renounced their US citizenship or long-term residency last year -- a new record. The growing number of renunciations may be linked to a campaign by the US to step up enforcement efforts against undeclared offshore accounts, experts say. Read more

Employers added 151,000 jobs last month

February 5th, 2016  // News

The US economy gained 151,000 jobs in January, and the unemployment rate edged down to 4.9%, according to the Labor Department. The unemployment rate dropped below 5% for the first time since 2008. Read more

US dollar skids on more evidence of cooling economy

February 4th, 2016  // News

The value of the dollar has tumbled in recent days against other major currencies. The data add to evidence that the economy might be taking a turn for the worse, something analysts will have in mind as they await January's employment report, due Friday. Read more

Fortune 500 CFOs are an increasingly diverse group

February 3rd, 2016  // News

Large US companies have continued to see diversity gains in their CFO ranks, according to research from Spencer Stuart. Women held 14% of CFO posts at Fortune 500 businesses at the end of last year, an increase from about 12% in 2014. Six percent of CFOs were members of minority groups, compared with only 4.7% the previous year. Read more

Manufacturing activity fell in January

February 2nd, 2016  // News

The Institute for Supply Management's factory index recorded a 48.2 reading in January, indicating contraction. It was the fourth consecutive monthly decline in manufacturing activity, as companies continued to deal with challenges such as a strong dollar and weakness in the oil industry. Separately, a report from the Commerce Department showed that consumer spending held steady in December. Read more

US posts 0.7% GDP growth for Q4

February 1st, 2016  // News

US GDP expanded at an annual rate of 0.7% in the fourth quarter, down from 2% growth in Q3. An inventory glut, mild weather that affected consumer spending and a strong dollar dragged on Q4 growth. The economy expanded 2.4% last year. Read more

US manufacturing weighed down by slump in oil prices

January 29th, 2016  // News

Evidence is emerging that low oil prices are beginning to create a drag beyond the US oil sector, with a broadly based 5.1% plunge in orders for durable goods in December. Economists fear that consumers are unable to take up the slack left by falling output and business investment. Separately, however, initial claims for unemployment benefits last week fell back from a six-month high the previous one. Read more

Fed affirms rate scenario but will monitor global developments

January 28th, 2016  // News

Federal Reserve policymakers omitted a reference to "balanced" risks in the global economy in a post-meeting statement Wednesday that reaffirmed their commitment to raising interest rates. As expected, rates were left unchanged. Read more

How will the Fed proceed with monetary policy?

January 27th, 2016  // News

The Federal Reserve is not expected to change its interest rates this week, but its policy statement will be scrutinized to see if events around the world are affecting officials' assessment of the economy. Read more

Companies plan pay hikes even as sales growth, GDP expectations decline

January 26th, 2016  // News

Forty-nine percent of businesses said they raised pay in the fourth quarter, and 58% say they intend to do so in the current one, according to a National Association for Business Economics survey. However, only 47% of companies said sales rose in Q4, a decrease from Q3. Expectations for gross domestic product growth also have dropped. Read more

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