Yellen Wage Gauges Blurred by Boomer-Millennial Shift

Posted by Forexsq 43 days ago (http://www.bloomberg.com)
img Federal Reserve Chair Janet Yellen’s focus on wages to help gauge the strength of the job market could need fine tuning as baby boomers approach the twilight of their careers and millennials jump in to fill the void.

As today’s middle-aged Americans grow older, they are leaving their prime working years behind, trading big salaries for part-time gigs or retirement, just as an even larger group

40% of unemployed workers are millennials

Posted by Forexsq 61 days ago (http://www.marketwatch.com)
img The jobs market is improving, according to government data released Thursday, but millennials are still left out in the cold. They’re suffering more than any other age group, new research finds.

Some 40% of unemployed workers are millennials, according to an analysis of U.S. Census data by the Georgetown University Center on Education and the Workforce released to MarketWatch, greater than Gen

Rand Paul Slams ‘Fat Cats’ With Hedge Fund in Top Donors

Posted by Forexsq 63 days ago (http://www.bloomberg.com)
img The U.S. Supreme Court rejected an appeal by Google Inc. (GOOG), leaving the company to face lawsuits accusing it of violating a federal wiretapping law by secretly collecting personal data while developing its Street View maps.

The justices today left intact a federal appeals court ruling that the U.S. Wiretap Act protects the privacy of information on unencrypted in-home Wi-Fi networks.

Ex-Deutsche Bank Trader Facing Record $17 Million Fine

Posted by Forexsq 88 days ago (http://www.bloomberg.com)
img Britain’s markets regulator is seeking to fine former Deutsche Bank AG (DBK) trader Christian Bittar about 10 million pounds ($17 million) for trying to rig benchmark interest rates, its largest ever penalty against an individual, said a person with knowledge of the situation.

The Financial Conduct Authority notified Bittar in recent weeks that it intends to penalize him for attempting to mani

Worst money mistakes you can make at any age

Posted by Forexsq 92 days ago (http://www.marketwatch.com)
img Everyone makes mistakes with money. We don’t save enough, or we spend too much on something frivolous. We sell shares in a stock too soon or not soon enough.

Bank of America Said Hired by Sterlings to Sell NBA’s Clippers

Posted by Forexsq 98 days ago (http://www.bloomberg.com)
img Bank of America Corp. has been retained to sell the Los Angeles Clippers, two people with direct knowledge of the situation said.

The people requested anonymity because the sale process isn’t public.

Jim Nash, a managing director at Bank of America, declined to comment. Pierce O’Donnell, the attorney for Shelly Sterling, wife of team owner Donald Sterling, didn’t immediately respond to a me

Russia Close to $400 Billion Gas Pipeline Deal in Pivot to China

Posted by Forexsq 104 days ago (http://www.bloomberg.com)
img Russia is close to signing a decades-long contract to supply natural gas to China at a price that would value the deal at about $400 billion, according to Prime Minister Dmitry Medvedev.

Medvedev’s boss Vladimir Putin arrives in Shanghai today to try and complete an agreement after more than 10 years of talks. The stumbling block has been price, but with Putin facing trade and financial sancti

Consumer Prices in U.S. Rose in April by Most in 10 Months

Posted by Forexsq 110 days ago (http://www.bloomberg.com)
img The cost of living in the U.S. rose in April by the most in almost a year, a sign inflation may pick up as demand in the world’s largest economy recovers from a weak first quarter.

The consumer price index increased 0.3 percent, the biggest advance since June, after rising 0.2 percent the prior month, a Labor Department report showed today in Washington. The gain matched the median forecast of

Old, Fired at IBM: Trendsetter Offers Workers Arbitration

Posted by Forexsq 113 days ago (http://www.bloomberg.com)
img For at least a decade, International Business Machines Corp. gave fired employees information detailing a severance package that asked them to waive age-discrimination claims and also included a page listing the job titles and ages of workers being let go.

This disclosure helps fired employees determine if they have an age-discrimination case, and it’s required by U.S. federal law for workers

Apple close to buying Beats for $3.2 billion: source

Posted by Forexsq 116 days ago (http://www.reuters.com)
img Apple Inc is close to paying a record $3.2 billion for Beats Electronics, two people with knowledge of the matter said, an expensive foray into music streaming and headphone gear that would mark a departure for the usually cash-conservative iPhone maker.

Both companies are hashing out details and the envisioned deal could still fall through, one person told Reuters on condition of anonymity be

U.S. Said to Seek Guilty Plea From Credit Suisse Parent

Posted by Forexsq 118 days ago (http://www.bloomberg.com)
img The U.S. is pressing for guilty pleas from the parent companies of banks under investigation, including Credit Suisse Group AG (CSGN), in a marked departure from the past, according to a person familiar with the negotiations.

Whether prosecutors would be willing to accept a guilty plea from a smaller unit rather than insisting on the bank holding company has been debated since authorities star

U.S. Plans to Hit Putin Inner Circle With New Sanctions

Posted by Forexsq 127 days ago (http://www.bloomberg.com)
img The U.S. and European Union will impose new sanctions as early as today on Russian companies and individuals close to President Vladimir Putin over the escalating crisis in Ukraine, officials said.

“We will be looking to designate people who are in his inner circle, who have a significant impact on the Russian economy,” Deputy White House National Security Adviser Tony Blinken said on CBS’s “F

Housing in U.S. Cools as Rate Rise Hits Sales: Mortgages

Posted by Forexsq 130 days ago (http://www.bloomberg.com)
img After a roller-coaster decade of boom-bust-boom, the U.S. housing market is going downhill just when many economists thought annual sales would be heading up.

Sales of previously owned properties in March tumbled 7.5 percent from a year earlier to the slowest pace in 20 months, while purchases of new houses sank 14.5 percent from February, according to reports this week. Mortgage applications

Wal-Mart’s Everyday Low Prices Fail to Stir Brazilians

Posted by Forexsq 132 days ago (http://www.bloomberg.com)
img A relentless focus on everyday low prices helped Wal-Mart Stores Inc. (WMT) become the world’s largest retailer. The strategy hasn’t been working in Brazil.

Wal-Mart is still losing money there two decades after entering South America’s biggest market, acquiring two local chains in the mid-2000s and opening more than 500 stores. The company is battling competition from Carrefour SA (CA) and Ca

Why Rich People Feel Poor

Posted by Forexsq 138 days ago (http://www.bloomberg.com)
img Spare a thought for the millionaires this week. The bill from last year's tax increases has come due.

The rich aren't poor, of course, whatever their tax burden. An adjusted gross income of $389,000 puts you in the top 1 percent of earners in 2011, according to the latest IRS data. No telethons have been organized. No TV ads have been narrated by Sarah McLachlan. Even the House Republicans hav
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