Tag: jun 15 2021

ForUsAll Inc., which provides 401(k) retirement plans to about 400 employers, has partnered with Coinbase Global to allow workers to invest up to 5 percent of their retirement money in various cryptocurrencies. ForUsAll’s ground-breaking step is not universally appreciated. “There is way too much volatility” in crypto to make it part of a retirement plan,...

Campbell Soup rode a surge in sales during the eat-at-home economic shutdown, but has seen sales slump 12 percent in this year’s first quarter, shrinking the company’s gross profit margin from 34.5 percent to 31.7 percent, as people returned to restaurants amid shortages of basic supplies. Now the company has announced it will raise prices...

Retail sales will grow by 10.5 to 13.5 percent this year, compared to 2020, and will exceed $4.44 trillion, the National Retail Federation (NRF) has forecast. In February, the NRF predicted growth of just 6.5 to 8.2 in retail sales percent this year. “The economy and consumer spending have proven much more resilient than initially...

The burgeoning U.S. economic recovery is pushing prices up, pacing inflation at 5 percent year-over-year last month, more than twice the U.S. Federal Reserve’s stated target rate of 2 percent and faster than any time since August 2008. The core inflation rate, which leaves out food and energy, grew at an annualized rate of 3.8...

The U.S. federal budget deficit grew to a record $2.1 trillion during the first eight months of the current fiscal year, the U.S. treasury reported. Federal receipts leaped 29 percent to $2.6 trillion during the period, thanks to increased corporate and personal income tax receipts, reflecting a reviving economy and consumer spending reinvigorated by a...

The U.S. Federal Reserve and treasury department are downplaying the current inflation rate at the risk of driving the global economy into crisis, a new report by Deutsche Bank economists warns. The vast amounts of stimulus cash being pumped into the U.S. economy while no steps are being taken to rein back inflation could too...

In May, the U.S. inflation rate reached 5 percent for the preceding 12 months, the biggest surge since August 2008 when it touched 5.4 percent, the U.S. labor department reported. The rate accelerated faster than economists had expected, according to the Financial Times. The core inflation rate, which leaves out food and energy, was a...

The number of new claims for unemployment benefits fell to 385,000 in the most recent week tallied by the U.S. labor department, a 15-month low and the second consecutive total below 400,000.   Economists surveyed by Bloomberg had forecast a median of 387,000. The firming job market is due to the succeeding vaccination campaign, lifting of...

U.S. pension funds shifted $90 billion from stocks to fixed income investments during the first quarter of this year, putting $41 billion in U.S. treasury bonds, Bank of America reported. A 26 May auction of five-year T-bonds drew more bids from foreign investors than any such auction since last August, the Wall Street Journal said....