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Retail Sales Rise Modestly In May

(MCT) — Retail sales in May fell short of estimates, but still pointed to an economy making slow progress. Sales rose a modest 0.3 percent last month, according to the Commerce Department. That was only half of the 0.6 percent gain that economists projected. Sales would have advanced only 0.1 percent without a strong showing […]

Four In 10 Millennials Say They Feel Overwhelmed By Debt, Poll Finds

(MCT) — Four in 10 members of the millennial generation said they felt overwhelmed by debt, with more than half reporting they were living paycheck to paycheck, according to poll results released Tuesday. Most of the respondents in the Wells Fargo Millennial Study said the Great Recession taught them they needed to start saving for […]

Private-Sector Job Growth Slowed In May To 179,000, ADP Reports

(MCT) — Private-sector job growth slowed in May to 179,000, the lowest level since January, payroll firm Automatic Data Processing said Wednesday. The figure was below analyst expectations for 210,000 net new jobs. ADP also revised down its April estimate by 5,000, to 215,000. “After a strong post-winter rebound in April, job growth in May […]

Banking Regulators Launch Broad Review Of Financial Rules

(MCT) — Three of the Nation’s financial regulators on Wednesday launched a broad effort to identify rules that are unnecessary or too burdensome for banks. Under a 1996 law, the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency are required to conduct such a review at least […]

U.S. Trade Gap Widens As Americans Buy More Imports

(MCT) — The U.S. trade gap widened to its highest level in two years as Americans purchased more imported goods and exports slowed, the U.S. Commerce Department reported Wednesday. The country’s trade deficit grew to $47.2 billion in April, up from $44.2 billion in March, the Federal agency said. Exports slowed in April, down slightly […]

Survey Puts Time Warner-Comcast Merger In A Harsh Light

(MCT) — The American Customer Satisfaction Index has pegged Time Warner Cable Inc. as the Nation’s most unloved company. Based on phone and online surveys, it rated Time Warner Cable’s Internet service as 236th out of 236 companies in customer satisfaction — a list that included Coke, Campbell Soup, Nissan, Allstate and Verizon Communications. Time […]

Study Says Medicare Prescription Flaws Costs $5 Billion

(MCT) — Researchers have known for years that low-income Medicare recipients don’t always receive the prescription drug coverage that best matches their needs. But thanks to a new study, there’s now a price tag for this inefficiency: about $5 billion. That’s how much the Federal government could save in one year if it changed the […]

Economic Impact Of Traffic Accidents? About $1 Trillion A Year

(MCT) — Motor vehicle crashes in the United States every year have an economic toll of almost $1 trillion. That includes $277 billion in actual cost, and an estimated $594 billion in “harm from the loss of life and the pain and decreased quality of life due to injuries,” a new U.S. Department of Transportation’s […]

Suspended GM Engineer Met With Congressional Staff

WASHINGTON (MCT) — Congressional investigators acknowledged Thursday morning that they met with a suspended General Motors engineer linked to the recall of 2.6 million cars regarding a safety defect blamed for 13 deaths and 42 crashes. Following a report Wednesday night in The New York Times, a spokeswoman for the House Energy and Commerce Committee […]

Sallie Mae Agrees To $139 Million Settlement For Cheating Soldiers

NEWARK, Del. (UPI) — Sallie Mae and their former loan servicing unit, now called Nanvient, agreed to pay $139 million to settle allegations that they charged unfair student loan fees to soldiers. The Department of Justice and the Federal Deposit Insurance Corp. accused the loan giant of intentionally violating the Service Members Civil Relief Act […]

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