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1 Article
Source: Common Domain

Where Will Consumers Spend Their Tax Cut?

Today 02:25 GMT

Estimates from both the Tax Policy Center, which is run by a former Obama administration official, and the conservative-leaning Tax Foundation show that households in the top fifth by income will receive larger percentage increases in after-tax income this year as a result of tax cuts than households in the middle fifth.

While the $1,000 bonuses some businesses have handed out since the tax law’s passage don’t move the needle much, the competition for workers and new investment the tax cut will spur is another matter.

1 Article
Source: New York Times

Spending Bill Sets Path to Fix a Looming Pension Crisis

Today 06:05 GMT

The looming collapse of the multiemployer pension system is significant given the sheer number of people affected and the potential for a devastating economic ripple effect: retirees losing the pension checks that keep them afloat and a potential wave of bankruptcies among the companies that once employed those workers.

The strain on the multiemployer pension system carries another risk — the potential annihilation of the Pension Benefit Guaranty Corporation, the government agency that insures pension plans.

1 Article
Source: Washington Post

A rare copy of the Declaration of Independence survived the Civil War hidden behind wallpaper. Later it was tossed in a box.

Today 04:16 GMT

During the Civil War, the precious document was hidden behind wallpaper in a home in Virginia to keep Union soldiers from finding it.

It was a rare parchment copy of the Declaration of Independence, made in Washington in the 1820s for founding father James Madison, and apparently unknown to the public for more than a century. Now, the copy, one of 51 that scholars are aware of, has resurfaced via its purchase last month by billionaire philanthropist David M. Rubenstein.

1 Article
Source: BBC

Retail sales slacken despite gym wear boost

Today 03:20 GMT

Sports equipment saw stronger sales than usual, the ONS said, as shoppers set out to meet New Year's resolutions to get fit, but food sales fell.

"Retail sales growth was broadly flat at the beginning of the New Year with the longer-term picture showing a continued slowdown in the sector. This can partly be attributed to a background of generally rising prices," said ONS senior statistician Rhian Murphy.

1 Article
Source: Common Domain

Higher inflation, Trump tax-and-spend boom sends investors looking for Fed clues

Sunday 14:30 GMT

Tax cuts, spending spree evoke liberals’ favorite economist. “Inflation is not likely to get out of hand, as it did back then, but the risks that it could are definitely escalating,” he said.

The central bank is expected to increase the cost of borrowing in March to keep the economy from overheating, but now investors wonder if the Fed will raise rates four times in 2018 instead of three as previously planned.

1 Article
Source: The Guradian

Kosovo at 10: challenges overshadow independence celebrations

Saturday 05:10 GMT

Among the guests will be Cherie Blair, whose husband is fondly remembered in Kosovo for his leading role in Nato’s intervention in the 1998-99 Kosovo war, which ended the oppressive Milosevic regime’s hold on Kosovo and paved the way for independence.

I don’t think so!”. Bernard Kouchner, a former UN special representative to Kosovo who was French foreign minister at the time of Kosovo’s independence declaration, describes Kosovo as “one of the successes of the UN system”. “There was a war, a bloody war, and now there is no more war,” he says.

1 Article
Source: DW

Defense Minister Ursula von der Leyen: Germany will spend more on its military

Saturday 16:21 GMT

Defense Minister Ursula von der Leyen said Germany is ready to step up globally in her opening speech at the Munich Security Conference.

German Defense Minister Ursula von der Leyen hailed recent European efforts to bolster military cooperation and pledged increased German defense spending in an interview with DW on Friday.

1 Article
Source: New York Times

How Salt Bae, Restaurateur, Spends His Sundays

Saturday 16:21 GMT

Nusret Gokce has moved into the Plaza Hotel in order to be close to his new restaurant, Nusr-Et, where he spends most of the day.

PROTEIN-HEAVY Sometimes I go a little excessive on the workout, for about an hour or an hour and a half, but I’m at the restaurant by 9 at the latest. I leave all of the negative energy there and go to the restaurant with more positive energy.

1 Article
Source: Common Domain

Oracle CEO Mark Hurd Says Corporate IT Spending Set to Jump

Friday 16:23 GMT

New York  — Spending on enterprise information technology is set to accelerate, after years of more modest growth, fueled by U.S. corporate tax cuts, global economic gains and a backlog of aging corporate IT systems, says Oracle Corp. co-Chief Executive Mark Hurd.

Mr. Hurd said much of the renewed corporate IT spending comes amid a convergence of technologies that is reshaping the way business operates, including cloud computing, big data and analytics, and artificial intelligence and other smart tools designed to parse data gathered company-wide to drive decision-making.

1 Article
Source: The Guradian

51st state: Kosovo's bond to the US – photo essay

Saturday 12:40 GMT

Kosovo continues to have emotional, political and economic bonds with the country that 20 years ago led a western intervention in its war with the Federal Republic of Yugoslavia, eventually leading to Kosovo’s declaration of independence.

The mayor of Llashticë, a town in south-east Kosovo, is a big fan of the US and has invested thousands of euros in recent years in decorating the town with stars and stripes and posters that refer to key moments in the course of the war.

1 Article
Source: Common Domain

Why retirees should loosen their purse strings and embrace the ‘YOLO!’

Friday 14:33 GMT

For retirees paralyzed by the prospect of running out of money before they cross the great divide, Tony Isola of Ritholtz Wealth Management has one word:. Of course, if you’re of retirement age, you probably have no clue what that acronym even means.

This chart shows what that 4% will do to a $1-million nest egg, invested in a 60% stocks/40% fixed income portfolio, over various 30-year periods:. In two out of three of these scenarios, as the chart reveals, retirees finish with more-than-double what they started with, and it’s very rare to have less than the $1 million — if fact, finishing with quintuple their starting wealth is more likely.

1 Article
Source: CBS News

7 things you may not know about food stamps

Saturday 09:55 GMT

Food stamps are a matter of public debate after the Trump administration unveiled its plan to turn the antipoverty program into a "Blue Apron-type program."

Conservatives often criticize food stamps because the program allows recipients to buy soda, candy, desserts and other unhealthy foods, an issue that was hinted at by Office of Management and Budget Director Mick Mulvaney, who said the food box would ensure "they're getting nutritious food." Part of the criticism was fueled by a 2016 report finding that households receiving food stamps use 20 cents of every dollar to buy sodas and sweets, which the conservative American Enterprise Institute called "alarming."

1 Article
Source: New York Times

Kosovo’s Grim Decade of Independence

Saturday 09:55 GMT

Driving toward Macedonia to catch my flight home, I took one of the new highways linking Kosovo to Albania, and I couldn’t help wondering: If the prime minister himself can’t travel, what does it mean for the rest of the Kosovars?

Tens years ago on Feb. 17, the mountainous, landlocked region of less than two million people declared independence from Serbia. Afterward, Kosovo spent nine years under United Nations control, an internationally supervised limbo.

5 Articles
Source: Global News

South Korea spending millions to bring North Koreans to the Olympics

Saturday 11:47 GMT

According to South Korea’s Unification Ministry, that’s the record amount the country has allotted to pay the bills of more than 400 North Koreans, only 22 of whom were athletes, at the Pyeongchang Games.

“The North Korean delegation’s participation in the 2018 Olympics will be an opportunity for co-operation and reconciliation between the North and South,” South Korea’s Unification Ministry said in a statement released on Wednesday that included the cost figure.


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