Lane Hanson

Lane Hanson

Lane Hanson is BusinessPundit's Economy Editor. He reports on major changes in the US and Global Economies. He can be reached at College Reviews.

  • Chicago OHare Wait Times

    Chicago airports have a massive wait time problem that’s causing 3 hour delays

    If you plan to fly out of Chicago O’Hare or Chicago Midway airports this summer, you will want to arrive very early. Both airports are suggesting that travelers arrive at least three hours early to ensure they make it through very crowded security checkpoints. Before today, the TSA, which is very understaffed, suggested that travelers […]

  • US Hiring Slows

    US hiring slows to 160,000 jobs in the US

    There wasn’t much hiring going on by US companies in April. Only 160,000 jobs were added last month, according to the Labor Department’s latest report. Analysts at Goldman Sachs had estimated that 240,000 jobs would be added. Concerns are rising that the US economy may be losing its momentum. Growth is slower in 2016 than […]

  • Fitbit stock falls apart

    Fitbit shares are getting absolutely clobbered

    Fitbit shares collapsed by more than 17% on Thursday as the wearables manufacturer forecast second-quarter revenues that were lower than analysts expected. While earnings released on Wednesday beat expectations, the company provided guidance for the current quarter that were below even the lowest forecast. Fitbit reported adjusted earnings per share (EPS) of $0.10, beating the forecast […]

  • Jim Chanos

    Jim Chanos is short on Valeant and Elon Musk in general

    Short-seller Jim Chanos doesn’t believe Valeant is headed for a turnaround and he also believes a few Elon Musk companies are in for trouble. The legendary short seller said on Wednesday his firm is still shorting Valeant Pharmaceuticals along with Tesla and SolarCity. “We’re still short Valeant,” Chanos said in an interview with CNBC at […]

  • San Francisco Housing Costs

    San Francisco housing costs are scaring away one in three residents

    The cost of housing in San Francisco will drive away one third of bay area residents in the next few years, according to a new report from the Bay Area Council. Residents say they are frustrated by a real estate market that has driven the cost of housing up by 23% in recent years. In the […]

  • Gold prices increase

    Gold just climbed above $1,300 an ounce

    Gold climbed above $1,300 a troy ounce on Monday, a move that was helped along by a weak dollar and investment inflows. Gold moved up 0.7% from its previous close to end up at $1,302.13 a troy ounce. The price of gold hovered close to $1,300 earlier in the year, but failed to keep its […]

  • Martin Winterkorn 2015 Volkswagen Pay

    Former Volkswagen boss received an $8.2 million payout in 2015

    Volkswagen’s former CEO Martin Winterkorn received $8.2 million in 2015 while the company struggled with its biggest loss in its history caused by a massive emissions cheating scandal. Winterkorn, who was forced to resign in September as Volkswagen’s giant cheating scandal was revealed, received a total of €7.3 million ($8.2 million) in 2015, including a €1 […]

  • Oil Drilling

    US oil companies lost $67 billion last year

    The 40 largest publicly-traded US oil companies lost a combined $67 billion in 2015, according to Energy Information Administration research. Those losses are expected to continue in 2016 as oil prices remain near $42 a barrel. Losses surpassed $1 billion each for many companies including EOG Resources, Devon Energy, and Linn Energy, among others. The EIA […]

  • Aramco to be publicly listed by Saudi Arabia

    Saudi Prince says Aramco will have a valuation above $2 trillion

    Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman believes the Saudi Arabian Oil Company will have a valuation above $2 trillion when it eventually becomes the world’s largest initial public offering. Prince Mohammad says the valuation process for Saudi Aramco has not been completed at this time. The government plans to turn Aramco into a […]

  • Unemployment claims

    Unemployment benefit claims fall to a four-decade low

    Americans seeking unemployment benefits have fallen to a four-decade low. Weekly applications for jobless benefits declined to 247,000 last week, the lowest reading since November 1973, the Labor Department said Thursday. The four-week average dropped by 4,500 to 260,500 and the total number of people receiving benefits has fallen by 7.6% to 2.14 million. Applications […]

  • Harriet Tubman will be featured on the American 20 dollar bill

    Harriet Tubman to be featured on $20 bill and Hamilton to remain on $10

    Alexander Hamilton is remaining as the face of the $10 bill while Harriet Tubman will push Andrew Jackson off the face of the $20 bill. An official announcement is expected to come later Wednesday from Treasury Secretary Jack Lew, who will also reveal that a montage of leaders from the women’s suffrage movement that will […]

  • Donald Rumsfeld and IRS taxes

    Donald Rumsfeld has no idea if he filed his taxes correctly

    Donald Rumsfeld has written his annual letter to the IRS and it doesn’t look good for the agency. Despite loyally serving the US government as the secretary of defense under both Presidents Gerald Ford and George W. Bush, Rumsfeld isn’t sure if he filed his taxes correctly for the 2015 tax season. “Despite having performed this civic […]