Average income for top 1 percent of households surged 7.7 percent in 2015
The Highlands Ranch Mansion in Highlands Ranch, Colorado on March 8, 2016. Financial inequality became even wider in the U.S. last year, with average income for the top 1 percent of households surging 7.7 percent to $1.36 million. Income for the richest sliver rose twice as fast as it did for the remaining 99 percent of households, according to an updated analysis of tax data by Emmanuel Saez, an economics professor at the University of California, Berkeley. Still, the incomes of households out..>> view originalTesla driver killed in autopilot crash was watching 'Harry Potter'
WASHINGTON — The first American death involving a car in self-driving mode presents a dilemma: How aggressively to embrace the potentially life-saving technology after a fatal crash. The driver’s history of speeding further complicates the question. The National Highway Traffic Safety Administration is investigating the design and performance of the Tesla Model S vehicle’s “Autopilot” system after announcing the death of a driver on Thursday. The system was engaged at the time of the crash, but..>> view originalBest 4th of July sales shopping tips on what to buy
Courtney Jespersen, NerdWallet 8:01 a.m. EDT July 2, 2016Retailers oftentimes offer sales during the holiday weekends.(Photo: Jeff Chiu, AP)First there were Mother’s Day sales, then Memorial Day sales and Father’s Day sales. Now retailers are gearing up for Fourth of July sales.Before these events blend into an endless stream of banner ads and spam emails, learn which products are the best buys if you’re shopping this July 4th — and see some of the deals that will sparkle this year...>> view originalCuomo's Start-Up NY program creates only 408 jobs so far
A signature job creation program created by Democratic Gov. Andrew Cuomo has generated only 408 new jobs in its first two years, according to a state report quietly published on a state website Friday evening.The program, Start-Up NY, uses tax-free zones at colleges and universities to attract companies. The report says 159 businesses and their employees have received $1.19 million in tax benefits so far while investing $13 million in the economy. The state also set aside up to $175 million for..>> view originalChipotle acts quickly after exec indicted on drug charge
After a rocky relationship with customers, Chipotle is trying something new to win them back. Keleigh Nealon (@keleighnealon) has the story. Buzz60A Chipotle executive has been put on administrative leave after a drug-buying indictment(Photo: Keith Srakocic, AP)After news broke that an executive was indicted on a drug charge, his employer, Chipotle, quickly put Mark Crumpacker on administrative leave.That was the prudent move to allow the beleaguered seller of Mexican fare to focus on i..>> view originalBiggest private coal producer warns of cutting 80 percent of workforce, head blames Obama policies
Murray Energy Corp., the largest privately held coal miner in the U.S., has warned that it may soon undertake one of the biggest layoffs in the sector during this time of low energy prices. In a notice sent to workers this week, Murray said it could lay off as many as 4,400 employees, or about 80% of its workforce, because of weak coal markets. The company said it anticipates “massive workforce reductions in September.” The law requires a 60-day waiting period before large layoffs occur. Layof..>> view originalUS Construction Spending Surprises with 0.8% Slip in May
| Share | Share | Share | Share The total nominal value of construction spending put in place in the U.S. fell 0.8% in May to a seasonally adjusted annual rate of $1,143.3 billion from a downwardly-revised estimate of $1,152.4 billion in April. The May report included annual revisions dating back to January 2014. Back-to-back negative construction spending readings in April and May suggest the second quarter will be weak. Moreover, declines are broadly based with much of the weak..>> view originalHyperloop One Replaces Co-Founder Brogan BamBrogan with Senior Vice President of Engineering Josh Giegel
Hyperloop One Inc. on Friday announced an executive shake-up, replacing one of the startup’s founders with its senior vice president of engineering, just as it faces a critical juncture in bringing its high-speed transport technology to life. Hyperloop One said it has promoted Josh Giegel to president of engineering. Mr. Giegel, who joined the company in November 2014, is taking over from Brogan BamBrogan, who as chief technology...>> view originalUS factory data, auto sales improve, construction spending slips
WASHINGTON U.S. factory activity expanded at a healthy pace in June as new orders, output and exports rose, new industry data showed on Friday, providing another sign that U.S. economic growth was regaining its footing after weakness early this year.Automakers reported higher June sales amid strong demand for pickup trucks and sport utility vehicles, but on an annualized basis, the June industry selling rate came in at 16.66 million units, well below May's sales pace of 17.45 million.Ford Moto..>> view originalMarkets Right Now: US stocks end strong week with tiny gains
NEW YORK (AP) — The latest on developments in global financial markets (all times local): 4:00 p.m. Stocks closed out a big week with minor gains as markets stage a comeback after a swoon following Britain's historic vote to leave the European Union. The U.S. market ended the week up 3 percent Friday, its biggest weekly gain since November. British stocks have regained all the ground they lost since the vote last week, and U.S. stocks have come close. Consumer-focused stocks rose more than the ..>> view original
Sunday, July 3, 2016
Average income for top 1 percent of households surged 7.7 percent in 2015 and other top stories.
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