Financial related news.
NEW YORK (AP) — A fire at the gun shop next door never reached Kathy Laurienti’s sausage and specialty food store, but the water and smoke damage was enough to shut her business down. Because Laurienti didn’t have enough insurance, it’s still closed — more than a year later. Laurienti still doesn’t know how much [...]
SEOUL, South Korea — Hundreds of capitalistic markets, each with thousands of stalls, form the glue that holds North Korea’s socialist planned economy together, say defectors who sold medicinal herbs, skinny jeans, TV sets, foreign drama CDs and other goods there to make a living. “People there say North Korean markets have everything except for [...]
NEW YORK (AP) — The American dream of a blissful retirement, free of financial worries, is dying. Most U.S. households are heading for a worse lifestyle in retirement than they had while they were working, because they simply aren’t saving enough, experts say. Thirty-five percent of households in their prime earning years or later have [...]
NEW YORK (AP) — After years of stamping out soda tax proposals with well-financed campaigns, Big Soda is suddenly finding itself up against bigger adversaries. Voters and lawmakers in five municipalities such as San Francisco and the county that includes Chicago approved special taxes on sugary drinks last week, with advocates saying the victories point [...]
WASHINGTON (AP) — Donald Trump inherits a much sturdier economy than the one Barack Obama carried into his second term four years ago. Back then, the scars of the Great Recession were still fresh. Joblessness was near 8 percent. Pay was flat. Europe faced a grave debt crisis that threatened to spread across the Atlantic. [...]
The election of Donald Trump as U.S. president creates new uncertainties for a world economy that’s already fragile, say investors and economists who wonder how far he will take his promises to tear up trade deals and restrict immigration. The real estate billionaire struck a conciliatory tone in his victory speech, arguing he would seek [...]
NEW YORK — It’s not just Detroit and Puerto Rico with financial problems. The pressure is rising on local governments around the country that are struggling with big pension obligations and other debts. Five states need to put aside more than 25 percent of their annual tax revenues just to pay pensions and other debts, [...]
HAVANA — Cuba is failing to meet its self-imposed foreign investment targets two years after détente with the United States set off the greatest surge of business interest in the country since its 1959 socialist revolution, officials said. Foreign Commerce Minister Rodrigo Malmierca told foreign business people and diplomats at the country’s annual trade fair [...]
Applying for a home loan? You may want to consider paying off your credit card bill first. Thanks to a recent change by major credit rating agencies, mortgage lenders can now look at whether you pay off your bill every month or keep a balance. That means home buyers who pay off their credit cards [...]
CHICAGO — It was a striking image. A photo of an 89-year-old man hunched over, struggling to push his cart with frozen treats. Fidencio Sanchez works long hours every day selling the treats because he couldn’t afford to retire. The photo and his story went viral and thousands of people donated more than $384,000 for [...]