The U.S. economy slowed unexpectedly in the fourth quarter of 2017 as gross domestic product (GDP) grew at an annualized rate of 2.6%. This breaks a two-quarter streak of GDP growth above three percent. Overall, U.S. GDP advanced 2.3% in 2017, which is better than the 1.5% GDP growth experienced in 2016 but significantly lower (more…)
The North American Free Trade Agreement (NAFTA), if not aware, is an agreement signed by the United States, Canada, and Mexico to eliminate trade barriers among the three countries. NAFTA came into being on January 1, 1994, and since then, U.S. trade with its North American neighbors has grown more than three times than U.S. (more…)
While the U.S. overall had a steady month in terms of job creation in October, retail layoffs and other industries still shed thousands of jobs, while stagnant wages once again impacted the outlook.
Papa John’s Int’l, Inc. (NASDAQ:PZZA) found and CEO John Schnatter knows who to blame for his company’s disappointing outlook: NFL Commissioner Roger Goodell. Schnatter blamed Goodell for “poor leadership” and said the NFL national anthem controversy has hurt Papa John’s sales and shareholders.
Vistra Energy Corp. (NASDAQ:VST) announced it is acquiring Dynegy Inc (NYSE:DYN) in an all-stock deal valued at $1.74 billion. Debt-laden Dynegy has seen its margins shrink in the face of cheaper electricity prices. The merger of the two Texas-based energy producers will create one of the largest integrated power companies in the U.S., with a (more…)
The signature Republican legislature reveal was once more pushed back, with the most recent tax plan delay potentially preceding a massive political battle in both houses and across party lines.
Nestle, Chevron, and State Farm to Cut Jobs in California The local economy in Bakersfield, California is getting hit hard by a number of layoffs. Chevron Corporation (NYSE:CVX) said that it will lay off around 300 employees, Nestlé USA, Inc. said that it is temporarily laying off close to 600 of its workers at its Häagen-Dazs (more…)
Kroger Co (NYSE:KR) said at its annual investor conference that it is looking at selling off its gas station convenience store business, including KwikShop, Loaf’N Jug, and Turkey Hill Minit Markets. The supermarket giant has been facing increased competition from Wal-Mart Stores Inc (NYSE:WMT), Amazon.com, Inc. (NASDAQ:AMZN), and Costco Wholesale Corporation (NASDAQ:COST) and is hoping (more…)
Donald Trump’s Long-Promised GDP Growth Rates Are Unlikely in Next Few Years, Economists Say The U.S. economy will grow by two percent in 2017 and 2018, according to a survey of nearly four dozen economists by the National Association for Business Economics (NABE), a far lower mark than the three-percent target that President Donald Trump (more…)
Slowdown in Manufacturing Industry and Housing Market Remain Significant The United States may be headed for an economic slowdown, according to the Federal Reserve Bank of Chicago’s latest report. The study shows that the American economy contracted in August.