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Latest 24 Hour Economy News
Source: Common Domain

Costco shares’ worst stretch since Great Recession was after Amazon–Whole Foods deal

Saturday 23:44 GMT

Shares of Coscto Wholesale Corp. continued their retreat Friday, extending the most damaging stretch of losses since the Great Recession, fueled by news of Amazon.com

In comparison, Amazon’s stock AMZN, +0.24% has shot up 34% so far this year and Whole Foods shares WFM, -0.59% have surged 40%.

Source: The Guradian

Trump officials oppose funding museum for victims of Tuskegee syphilis study

Saturday 23:45 GMT

The Trump administration is opposing an attempt to use unclaimed money from a legal settlement over the government’s infamous Tuskegee syphilis study to fund a museum honoring its victims.

The government said that it “does not intend in any way to justify, condone, or defend the Tuskegee syphilis study” but contended that allowing remaining money from a $9m settlement to be used for the museum would violate the original provision that any leftover money go back to the government.

Source: Common Domain

The highest paid player in the NFL says his wife still uses coupons

Saturday 23:44 GMT

After becoming the highest paid player in the National Football League, Oakland Raiders quarterback Derek Carr was asked if there’s one thing he would splurge on.

Regarding the generous tithing that Carr does, here’s a video of him talking about the time in college when he started living the Christian lifestyle.

Source: Washington Post

District residents’ perceptions of Metro have fallen dramatically; many support a sales tax to turn it around

Saturday 23:44 GMT

The survey of District residents finds 53 percent support a regional sales tax to fund Metro, making it the most popular of five proposals that are being weighed by local leaders to stabilize the system’s finances.

Attitudes in Washington are similar to those in suburban Virginia and Maryland in separate Post polls this spring, where residents have expressed modest support for a sales tax and mixed or weak support for other options.

Source: Common Domain

Santa Monica couple fights Snapchat over 'geofilter' trademark

Saturday 23:44 GMT

A Santa Monica couple seeking to defend more than two years of part-time work is going to battle with Snap Inc. over whether the term “geofilters” can be trademarked.

Their next move is expected to be a formal filing in August opposing Snap’s effort to secure a U.S. trademark for the word geofilter. In Snap’s Snapchat messaging app, geofilters are decorative graphics that often name or depict a location, such as a shop or city.

Source: CBS News

Discord over education funding threatens to shut down Maine government

Saturday 23:44 GMT

However, in an editorial published in May, he wrote "It is clear that Maine voters want the state to spend more resources on education, but I refuse to believe that in doing so they wanted to punish Maine's small businesses and discourage investment in our state." "Republicans have been flat out they won't support a budget with that 3 percent in it," Jackson said.

At the close of the legislative session, on July 1, Maine faces two possibilities: an agreement on a budget including some form of education funding or a shutdown.

Source: Common Domain

Why the Fed’s opportunistic tightening campaign could be a hawkish mistake

Saturday 23:45 GMT

How should we interpret the Fed’s seemingly steadfast focus on opportunistic tightening in the face of disappointing inflation data and sagging inflation expectations, and what are the likely consequences?

However, the prize of opportunistic tightening comes at a price: By hiking rates and starting balance-sheet runoff when inflation keeps undershooting, the Fed risks cementing inflation expectations firmly below target.

Source: Common Domain

Want to know where the stock market’s headed over the next 6 months Don’t ask OPEC

Saturday 23:45 GMT

The vagaries of crude-oil and appeared to weigh heavily on stocks in the past week, but as the landscape of rest of 2017 looks set to unfurl into the second half, it’s hard to make a case that a downturn in oil will be the dagger that takes down a bull market headed into its ninth year.

That may be a function of the diminished status of the commodity, with even OPEC, once the most revered cartels in business, struggling to manage pricing.

Source: CBS News

Bernie and Jane Sanders, under FBI investigation for bank fraud, hire lawyers

Saturday 21:53 GMT

Sen. Bernie Sanders (I-VT) and his wife, Jane Sanders have hired prominent defense attorneys, amid an FBI investigation into a loan Jane Sanders obtained to expand Burlington College while she was its president, CBS News confirms.

Sanders, formerly mayor of Burlington, Vermont's largest city and capital, regards the claims as a political game levied against him after his run for president in the 2016 primary election, a platform which has transformed the small-state senator into an influential voice in American liberal politics.

Source: New York Times

In Long Run, There’s No Such Thing as an Einstein Investor

Saturday 21:53 GMT

It is tempting to replicate a successful strategy — one created by an outstanding investor, like Warren Buffett, or through in-depth statistical analysis of the wisdom of crowds — and such approaches can actually work for long periods.

Albert Einstein, who may have been the most famous person ever to be publicly identified as a genius, had a disrespectful attitude toward the dignitaries of the physics profession of his time, and a lonely and unique approach to science.

Source: CBS News

Here's what is pushing up U.S. home prices

Saturday 20:04 GMT

Buyers who have acquired their properties within the past few years also may be reluctant to sell now that the Federal Reserve has started raising interest rates.

The median sale price of a new home in May was $345,800, an increase of nearly 17 percent from a year ago, according to federal data released Friday. The median home value is $199,200, up 7.4 percent since this time last year, according to Zillow.

Source: Fox News

Italian mob boss freed from prison at 100-years-old

Saturday 20:04 GMT

According to Mafia lore, Franzese was a big spender and a regular at the Copacabana nightclub, where he hobnobbed with Frank Sinatra and Sammy Davis Jr.. PORN ACTRESS CLAIMS CHRISTIAN SCHOOL FIRED HER FROM TEACHING JOB BECAUSE OF HER SEX FILMS. The mob boss also once had a stake in the classic porn film "Deep Throat."

Franzese, 100, was released from the Federal Medical Center in Devens, Mass., after being sentenced to eight years in prison in 2011 at age 93, according to Newsday.

Source: CBS News

Michael Brown's family receives $1.5 million settlement in wrongful death lawsuit

Saturday 18:15 GMT

The insurance company for the city of Ferguson, Missouri, paid $1.5 million to settle a wrongful death lawsuit filed by Michael Brown's parents, the city attorney said Friday.

U.S. District Judge E. Richard Webber approved the settlement but disclosed nothing about the amount, saying only that it was "fair and reasonable compensation for this wrongful death claim and is in the best interests of each Plaintiff," with the money to be split between the parents. Webber also wrote that the agreement "shall remain sealed by this Court and shall be considered a closed record" because disclosure of the information "could jeopardize the safety of individuals involved in this matter, whether as witnesses, parties, or investigators."

Source: Common Domain

3 Big Opportunities for Visa

Saturday 18:15 GMT

For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

Visa held its first investor day in four years on Thursday, and it was chock-full of interesting observations about global payments. To order presentation-ready copies for distribution to your colleagues, clients or customers visit

Source: Common Domain

Will falling oil prices keep the Fed from hiking rates?

Saturday 17:18 GMT

“The market is underestimating the Fed’s conviction its rate hiking aspirations, Fed policy is very reliant on the employment situation,” said Marvin Loh, senior global markets strategist for BNY Mellon, in a note.

The dim outlook for energy prices could ultimately keep a lid on inflation, and therefore yields, giving senior Fed officials some pause as they look to further tighten monetary policy by the end of the year, argues Thierry Wizman, global interest rates and currencies strategist for Macquarie.

Source: Common Domain

When Kamala Harris and women everywhere do their job well, they get called 'hysterical'

Sunday 13:37 GMT
Source: Washington Post

Navy sailors made tough call to seal flooding ship compartments, unclear if survivors were inside

Thursday 22:53 GMT
Source: New York Times

Blue Apron Pursues I.P.O. as Amazon Looms Over Industry

Wednesday 01:32 GMT
Source: Global News

Flint airport attack suspect Amor Ftouhi was caretaker at Montreal apartment building

Friday 19:19 GMT
Source: Common Domain

Murdochs' bid for Sky could undergo further regulatory scrutiny in Britain

Wednesday 17:20 GMT
Source: Global News

London fights division, anger after series of attacks, deadly fire

Wednesday 21:06 GMT
Source: Global News

Guns kill or wound at least 19 children every day in the U.S., study says

Tuesday 17:20 GMT
Source: Common Domain

Why did these generic drugs’ prices jump as much as 85%?

Saturday 11:48 GMT
Source: Global News

Steve Irwin, Carrie Underwood, Snoop Dogg to get stars on Hollywood Walk of Fame

Saturday 18:15 GMT
Source: CBS News

Here's what is pushing up U.S. home prices

Saturday 20:04 GMT
Source: NBC News

'Queen of Tejano' Selena Is Honored At Madame Tussauds New York

Saturday 18:15 GMT
Source: CBS News

Ivanka Trump ordered to testify in lawsuit over shoe design

Saturday 23:45 GMT
Source: Common Domain

Do I Hear $16 Billion $20 Billion? Analyst Predicts Rival Bids for Whole Foods

Saturday 18:15 GMT
Source: BBC

Hijab-wearing model appears on front page of major US magazine

Saturday 15:30 GMT

“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte