Have you seen the projected inflation rate in Venezuela? It is expected to increase 481% this year and by a staggering 1,642% next year. That’s right. Those numbers are correct. The report is from new estimates released Tuesday by the International Monetary Fund. It’s a scary time for Venezuela. The IMF…
The world once again is getting a bit nervous about the health of big banks based in Europe. Not only are bank stocks currently plummeting at what many feel is an alarming pace, investors are now making bets that some banks might even default on their debt should the global economy sink into a…
It was announced that Barclays was hit with a £72 million ($108.5 million) fine on Thursday, with a U.K. regulator making claims that it had worked with “ultra-high-net-worth clients” in a manner that could have helped financial crimes take place. The Financial Conduct Authority (FCA) said the U.K. bank, which…
Many big box stores are issuing bleak outlooks for the next couple of months. Walmart (WMT), Nordstrom (JWN) andMacy’s (M) are not optimistic at all about the holiday shopping season for a variety of reasons. Nordstrom is most worried that the strong U.S. dollar will deter foreign tourists from some…
On Friday, The Postal Service reported a $5.1 billion loss for the just-completed 2015 fiscal cycle—but that’s actually a slight improvement over last year. The loss reflects continued erosion in the delivery of first-class mail as well as expensive mandates for upfront funding of its retiree health care obligations that…
A half-dozen Fed speakers and a bit of fresh jobs data could create some waves for markets when bond traders return to their desks onThursday. One of the first up will be Fed Chair Janet Yellen, she’ll make welcoming remarks at a Fed conference on post-crisis monetary policy in Washington at 9:30…
Since there is no loyalty program tied to Apple Pay, it has kept the brakes on the rollout of Apple‘s (NASDAQ:AAPL) mobile payment system. However this week Walgreens Boots Alliance‘s (NASDAQ:WBA) has become the first retailer to use Apple Pay within their customer loyalty rewards program. Walgreens’ has over 85 million…
MINNEAPOLIS (AP) — It was announced today that Target plans to close 13 stores nationwide, including one in the city of New Ulm and two others in Milwaukee and Superior, Wisconsin. The message from Minneapolis-based retailer says a decision to close a store usually follows several years of decreasing profitability. Target…
If you are not a believer that there’s inflation going on, you should look no further than the Girl Scouts. After many years of holding prices steady for their popular cookies, more Girl Scout councils are boosting cookie prices to $5 a box from the original $4 a box. The Girl…
Bitcoin which is the world’s most popular digital currency, has been on a roll lately. The thing is — nobody is really sure why. Last January, it dipped well below $200 but now bitcoin traded at more than $410 Tuesday afternoon according to the CoinDesk Bitcoin Price Index. Why is that…