Originally published on Fri January 30, 2015 11:16 am
Russia's worsening economy is having an impact far beyond its borders — even affecting Alpine ski resorts where Russians once flocked.
For the past decade, they've come in large numbers to ski the fabled Alpine slopes around Mont Blanc. But the drop in the ruble is now keeping them away. And that's having an effect on the wintertime economy in the region.
Originally published on Wed January 21, 2015 12:05 pm
President Obama revved up quickly for his economic victory lap.
"After a breakthrough year for America, our economy is growing and creating jobs at the fastest pace since 1999," President Obama said less than a minute into his State of the Union address Tuesday night.
The lap was fueled by cheap gas: "We are as free from the grip of foreign oil as we've been in almost 30 years," he said.
Originally published on Mon January 19, 2015 8:02 pm
In the U.S., roughly 10,000 people reach retirement age every day. And though not everyone who turns 62 or 65 retires right away, enough do that some companies are trying to head off the problem.
Dave Tobelmann, who for 33 years developed new products for General Mills, retired five years ago at age 57 — around the same time as a number of other colleagues. "Yeah, I went to a lot of retirement parties," Tobelmann says.
Losing veteran workers is a challenge, even for big companies like General Mills.
Originally published on Wed January 14, 2015 8:17 pm
If you've traveled outside the U.S. recently, or sent your U.S.-made products abroad, you've probably noticed that the dollar is getting stronger. The stronger dollar is the sign of a healthier U.S. economy, but its strength has the potential to erode growth.
There are a number of factors behind the dollar's rise, says economist Jens Nordvig, a currency expert at Nomura Securities. The main one is the health of the U.S. economy.
Originally published on Mon January 5, 2015 12:22 pm
The euro fell today to a nine-year low against the dollar amid continuing doubts over Greece's future in the currency union and renewed prospects of monetary easing in the eurozone, the club of 19 EU countries that share the common currency.
The euro fell 1.2 percent against the dollar to $1.1864 — the lowest level since March 2006; it later recovered to $1.19370.
Originally published on Sat January 3, 2015 5:33 am
This week, the FBI stood firm on its claim that North Korea was responsible for the hack on Sony Pictures, even though independent cybersecurity experts have questioned the FBI's stance. We also looked at a new app that helps people share their stuff, and at Federal Communications Commission Chairman Tom Wheeler's handling of the net neutrality debate.
Originally published on Wed December 31, 2014 12:45 pm
Last October, California Gov. Jerry Brown signed a law that would ban single-use plastic bags at grocery and convenience stores, and allow shops to sell customers environmentally-friendly bags for 10 cents. Senate Bill 270 was set to take effect in July 2015.
Drive drunk, drive recklessly, and the state can suspend your driver's license. But many police and motor vehicle administrators worry about a recent trend: A large number of suspensions are for reasons that have nothing to do with unsafe driving.
These reasons include unpaid traffic tickets, falling behind on child support, getting caught with drugs, bouncing checks; or minor juvenile offenses like missing school, using false identification to buy alcohol, or shoplifting.
Originally published on Mon December 29, 2014 10:39 am
Each December, economists make predictions. And each new year, they get hit by unexpected events that make them look more clueless than prescient.
This year's bolt out of the blue was the plunge in oil's price, which no one saw coming.
Still, top economists' forecasts did get a lot right for 2014. One year ago, most were predicting healthy growth, tame inflation, low interest rates, rising stock prices and declining unemployment — and that's just what we got.
Originally published on Tue December 23, 2014 2:55 pm
The U.S. economy grew at a surprisingly fast 5 percent annual rate in the third quarter of 2014, up sharply from the 3.9 percent of the last revision. The figure blew past the consensus estimate of 4.3 percent put forth by economists surveyed by Bloomberg News.
It's the fastest the U.S. economy has grown in one quarter in more than a decade: The GDP grew at a 6.9 percent pace in the third quarter of 2003.
Update at 10:30 a.m. ET: Dow Tops 18,000 For First Time
Originally published on Sun January 4, 2015 3:55 pm
Falling oil prices are perhaps nowhere more welcome than in northern New England, where most homes burn heating oil in their furnaces. But cheaper heating oil is refilling consumers' pockets just as high electric prices are emptying them out.
For example, a heating oil truck delivers 600 gallons of heating oil every two weeks to an old, four-story brick building in Concord, N.H. At last year's oil prices, each refill would have cost around $2,200. Right now, it's more than $300 cheaper.
Originally published on Mon December 15, 2014 10:53 am
The pay gap between men and women has been narrowing for decades. But it persists, and it gets larger as women move toward the middle of their careers.
In a recent paper, Harvard economist Claudia Goldin looked at the gap in a bunch of different ways — how it's changed over time, how it changes over the course of people's careers, and how it varies from industry to industry.
Originally published on Mon December 15, 2014 2:37 pm
Uber's troubles are mounting. The ride-sharing service was criticized in Australia after its "surge pricing" kicked in, quadrupling fares for some customers trying to flee the area in Sydney where a gunman took hostages in a cafe.
Here's a screenshot that one customer sent to Mashable with details of the increased fare:
Originally published on Fri January 2, 2015 5:47 pm
Retirement for baby boomers will look different than it did for their parents — Americans are living longer, health care costs more, fewer people have pensions today, and many people facing retirement haven't saved much.
All of that makes managing the nest egg you do have even more vital. But many people need and want guidance on what they should do to make sure their retirement savings last.
By Commonwealth As Submitted By Chornyak & Associates
Commonwelath Financial Network warns us to avoid making the end of the year more stressful than it needs to be. By checking some items off your list earlier, you'll be free to focus on what's important during the holidays-spending time with family and friends.
Are you ready for colder weather and the end-of-the-year rush? Consider using some of these tips to help you save money and time as winter approaches.