Neiman Marcus CEO shows off mansion while employees get pink slips
The CEO of Neiman Marcus is being blasted for flaunting his wealth in the midst of a bankruptcy that led to job losses and pay cuts for rank-and-file workers, The … Read More
Category: Economy
Citigroup says racism has cost US economy $16 trillion
A Wall Street bank just put a price tag on racism in America, and it’s a steep one. New York-based megabank Citigroup found that the US economy has lost out … Read More
FinCEN Files Sink Bank Stocks
Key Takeaways ICIJ releases report detailing two years of money laundering by global banks JPMorgan, Deutsche Bank and others flagged in report Bank shares sink as the fallout begins A … Read More
Delta takes a 'mortgage' out on frequent flier SkyMiles for $6.5B
Post-coronavirus travel will be back ‘sooner than people think’: Travel Association CEO U.S. Travel Association President and CEO Roger Dow on what the coronavirus-hit travel industry is doing to recover. … Read More
Pelosi causing stimulus stalemate that could help unemployed, Kayleigh McEnany says
Kayleigh McEnany rips Pelosi over stimulus stalemate White House Press Secretary Kayleigh McEnany on President Trump’s town hall in Philadelphia, the state of coronavirus stimulus negotiations and relations in the … Read More
Riots following George Floyd’s death may cost insurance companies up to $2B
Insurance companies could pay up to $2 billion in claims stemming from riots sparked by the police killing of George Floyd — making them the most expensive in US history, … Read More
Out-of-work Americans to receive up to $1,800 under Trump's unemployment program
Kudlow: Unemployment assistance would be ‘smart’ to help economy National Economic Council Director Larry Kudlow discusses the possibility of additional stimulus, Joe Biden’s plans to raise taxes and how the … Read More
Post Office and AA credit card accounts transferred to Norwegian company
Thousands of Post Office and AA credit cardholders are becoming customers of a little-known Norwegian fintech firm, Jaja Finance, after it bought Bank of Ireland’s credit card business. Following a … Read More
US economy perfectly poised for 'very rapid' recovery: Art Laffer
Art Laffer: US ‘perfectly poised’ for rapid economic recovery Former Reagan economist Art Laffer argues against another round of coronavirus stimulus. Art Laffer, a former economic adviser to President Reagan, … Read More
RBI sets sectoral norms for resolution of COVID-19 related stressed assets
‘Key financial ratios prescribed by Kamath panel intended to be floors or ceilings’ The Reserve Bank on Monday specified five financial ratios and sector-specific thresholds for resolution of COVID-19 related … Read More