Economy

income

NYC Restaurants Slash Staff over $15 Minimum Wage

New York City restaurants, feeling the pinch of trying to make ends meet, are slashing their staff after a state law that took effect at the end of 2018 is mandating restaurants with 11 or more workers to pay a $15 an hour minimum wage.

Davos

Davos Men Gather Under a Cloud as Globalism in Retreat Worldwide

DAVOS, Switzerland (AP) – As the world’s financial and political elites convene here in the Swiss Alps for the World Economic Forum, their vision of ever-closer commercial and political ties is under attack – and the economic outlook is darkening.

Supreme Court deals Trump another immigration setback

Trump to Offer Fix for Shutdown and Border ‘Humanitarian Crisis’

President Donald Trump will offer another compromise deal on Saturday to end the shutdown over the border wall, and Democrats will approve $1.1 billion to buy extra surveillance technology and additional immigration judges, according to Friday evening media reports. 

Elon Musk Boring Company

Tesla Follows SpaceX Lead, Cuts Seven Percent of Workforce

A few days after Elon Musk’s rocket company SpaceX announced that it was cutting ten percent of its workforce, his electric car company Tesla has said it is cutting seven percent of its workforce as well.

The headquarters of Fannie Mae are seen October 21, 2010 in Washington, DC. The Federal Housing Finance Agency announced today that U.S.-backed mortgage firms Fannie Mae and Freddie Mac, which have already required $148 billion in bailouts, may now need up to $363 billion in taxpayer-funded Treasury Department aid under …

Fannie and Freddie Shares Soar on Hopes of Hedge Fund Windfall

Some of the hedge funds that long ago made bets on the recovery of Fannie Mae and Freddie Mac have greatly benefited in the first few weeks of 2019 as a Trump appointee ascended to become the acting chief of the regulator in control of mortgage giants.

The U.S. Supreme Court is seen at dusk February 13, 2016 in Washington, DC. Supreme Court Justice Antonin Scalia was at a Texas Ranch Saturday morning when he died at the age of 79. (Photo by Drew Angerer/Getty Images)

Supreme Court Declines Case on Whether Dodd-Frank’s CFPB Is Unconstitutional

The Supreme Court on Monday denied review of a major challenge to the constitutionality of the CFPB and Dodd-Frank, resulting from the understandable recusal of Justice Brett Kavanaugh, who was still a judge on the federal appeals court handling the case on its way to the justices when the case was pending before that court.