Economy - Articles

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Economy - Articles

The Mirage Casino is Closing
Yahoo! News - Thu May 16, 2024
LAS VEGAS, Nevada — The iconic Mirage hotel-casino on the Las Vegas Strip will shut its doors this summer, the end of an era for a property credited with helping transform Sin City into an ultra-luxury resort destination. More»

Cyber Espionage Hackers Targeting Transportation Sector
The Hacker News - Wed Dec 22, 2021
The transportation industry and government agencies related to the sector are the victims of an ongoing campaign since July 2020 by a sophisticated and well-equipped cyberespionage group in what appears to be yet another uptick in malicious activities that are "just the tip of the iceberg. More»

Exxon Launches Sale of Shale Gas Properties in Texas
Reuters - Tue Nov 16, 2021
HOUSTON, Texas - Exxon Mobil on Monday launched a sale of its oil and gas properties in the first major US shale field, a spokesperson confirmed, as part of a portfolio reshuffling to focus on more lucrative assets. More»

Supply Chain 'Definitely Not Getting Back to Normal'
New York Times - Mon Aug 30, 2021
Like most people in the developed world, Kirsten Gjesdal had long taken for granted her ability to order whatever she needs and then watch the goods arrive, without any thought about the factories, container ships and trucks involved in delivery. More»

Nestlé to cut almost 600 jobs and shut Newcastle factory
BBC - Wed Apr 28, 2021
The world's largest food company wants to close its site in Fawdon by the end of 2023 and focus production on factories in York and Halifax. More»

Ponzi King Bernie Madoff Dies in Federal Prison
NBC New York - Wed Apr 14, 2021
Bernie Madoff, convicted of leading the largest Ponzi scheme in history, has died in federal prison at age 82. More»

Biden signs $1.9 trillion relief bill into law
The Hill - Thu Mar 11, 2021
President Biden on Thursday signed his $1.9 trillion coronavirus rescue package into law, marking a significant legislative accomplishment for the new president as he looks to shepherd the country through the pandemic. More»

Exxon Dropped From Dow Jones After Almost a Century
NPR - Fri Aug 28, 2020
The Dow Jones Industrial Average is the classic blue-chip stock index. More»

American Airlines to lay off 17,500 front-line workers due to coronavirus travel slump
USA Today - Tue Aug 25, 2020
American Airlines warned in July that it would have to lay off up to 25,000 flight attendants, pilots and other front-line workers this fall due to the steep decline in travel brought on by the coronavirus pandemic. More»

NYC Preparing to Lay Off 'Hundreds' of EMTs Amid COVID Budget Crisis
WNBC-TV - Wed Aug 19, 2020
The FDNY EMS union said that City Hall is looking to eliminate 400 emergency medical response jobs, just months after first responders were dealing with call volumes as high as 6,500 a day during the peak of the pandemic. More»

Coronavirus: Why US is expecting an 'avalanche' of evictions
BBC - Sun Aug 9, 2020
As hair salons, churches and restaurants reopened across the US, so did eviction courts. More»

Cities try to arrest their way out of homeless problems
PBS - Tue Jun 30, 2020
FORT WALTON BEACH, Forida - In the nine years he has been homeless, Kenneth Shultz has spent one of every three nights in jail. More»

Macy's announces it will lay off 3,900 'corporate and management jobs'
Daily KOS - Thu Jun 25, 2020
On Thursday, retail giant Macy's announced new "restructuring" plans to "address sales impact from the COVID-19 pandemic". More»

Trump's senior economic adviser referred to Americans as 'human capital stock'
Business Insider - Tue May 26, 2020
Senior White House economic adviser Kevin Hassett said on Sunday that America's "human capital stock" is ready to get back work as the country takes steps toward reopening. More»

Trump Labor Department Encourages States to Help Employers Report Workers Who Stay Home Due to Covid-19
Common Dreams - Tue May 12, 2020
"There's a plague outside but the Trump administration is strongly encouraging states to solicit employer tips on workers staying home". More»

Lindsey Graham: Congress Will Extend Unemployment ‘Over Our Dead Bodies’
Huffington Post - Sun May 3, 2020
Republican Senator Lindsey Graham (South Cafolina) promised business leaders that Congress would not extend enhanced unemployment benefits during the COVID-19 crisis, saying such a continuation would only happen “over our dead bodies”. More»

Dow falls 1,191 points -- the most in history
CNN - Thu Feb 27, 2020
New York - US stocks again sold off sharply on Thursday as worries about coronavirus mounted. More»

Deutsche Bank confirms plan to cut 18,000 jobs
BBC - Sun Jul 7, 2019
Deutsche Bank will cut 18,000 jobs over three years as part of a radical reorganisation of the German bank. More»

Georgia GOP Candidate For U.S. House: 'I Do Not Support A Livable Wage'
Huffington Post - Tue Jun 6, 2017
GEORGIA - Karen Handel, the Republican candidate for Georgia's 6th Congressional District, said Tuesday that she does "not support a livable wage". More»

Trump Wants To Start Charging Stores To Accept Food Stamps
CNBC - Tue Jun 6, 2017
The White House proposal to overhaul the US food stamp program - and the deep cuts it would make to benefits for the poorest households - has sparked public outrage on both sides of the aisle. More»

U.S. Has Regressed To A Third-World Nation For Most Of Its Citizens
The Intellectualist - Fri May 26, 2017
America divided - this concept increasingly graces political discourse in the US, pitting left against right, conservative thought against the liberal agenda. More»

HUD Secretary Ben Carson: Poverty Is Largely 'A State Of Mind'
CNN - Wed May 24, 2017
Washington - Housing and Urban Development Secretary Ben Carson said in an interview Wednesday that having "the wrong mindset" contributes to poverty. More»

The numbers are staggering: US is 'world leader' in child poverty
Raw Story - Fri Apr 28, 2017
America's wealth grew by 60 percent in the past six years, by over $30 trillion: In approximately the same time, the number of homeless children has also grown by 60 percent. More»

Cancer patient evicted after Atlanta church cancels lease to demolish affordable housing
Raw Story - Sun Jul 19, 2015
Ehsam Beroukhim was forced to move out of his apartment on Sunday even though he still had months on his lease after the church that owned the property decided to demolish five buildings that provided affordable housing in the Buckhead area of Atlanta. More»

The Numbers Are Staggering: U.S. Is 'World Leader' in Child Poverty
AlterNet - Tue Apr 14, 2015
America's wealth grew by 60 percent in the past six years, by over $30 trillion. More»

Largest Homeless Camp In US Evicted And Destroyed To Make Way For Tech Billionaires
Addicting Info - Sat Dec 6, 2014
More than 350 homeless Americans lived in their makeshift village, 'The Jungle' in San Jose, California - that is, until police and social services raided the camp, evicting tenants and destroying their self-made homes on Thursday. More»

Bank of America Whistle-blower Bombshell: "We Were Told to Lie" to Rip Off Borrowers
AlterNet - Fri Jun 21, 2013
Bank of America's mortgage servicing unit systematically lied to homeowners, fraudulently denied loan modifications, and paid their staff bonuses for deliberately pushing people into foreclosure: Yes, these allegations were suspected by any homeowner who ever had to deal with the bank to try to get a loan modification - but now they come from six former employees and one contractor, whose sworn statements were added last week to a civil lawsuit filed in federal court in Massachusetts. More»

FDIC closes banks in North Carolina, Georgia
Associated Press - Sat May 11, 2013
WASHINGTON - Regulators say they have closed banks in North Carolina and Georgia, bringing the number of US bank failures to 12 this year. More»

Bulldoze: The New Way to Foreclose
Time - Sun Jul 31, 2011
Banks have a new remedy for America's ailing housing market: bulldozers. More»

There Aren't Enough Jobs For 4 Out Of 5 Unemployed Americans
Huffington Post - Mon Nov 8, 2010
There simply aren't enough jobs to employ four out of five unemployed Americans, according to recent data from the Bureau of Labor Statistics. More»

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