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Millennials are spending less on vacations and their thrifty getaways are causing a headache for the travel industry. According to travel insurance company Allianz Global Assistance, “Summer travel will actually increase by one-half of a percent in 2015.” The company claims that Americans will spend $85.5 billion on summer vacations in 2015, down by 13.5% […]
Greek Prime Minister Alexis Tsipras announced on Wednesday that his country’s newest bailout proposal has been denied by the regions creditors. Some of Tsipras’ supporters in the Syriza government party that propelled him to power have been critical of the proposal, stating that it gave too much away during a moment of desperation. The prime […]
Matthew Yglesias wrote a perceptive piece at Vox this weekend on the “mystery” surrounding unfilled jobs. Basically, there are a lot of job openings right now but they don’t seem to be filling up as fast as you’d think, given the equally high number of folks looking for work (or new work). This problem has […]
How much pull does Taylor Swift have these days? Enough to make a nearly $1 trillion business change course. The 1989 singer pulled all of her work from Apple Music after the company said it would not pay artists royalty during a three-month trial period for new customers. Swift called the move by Apple Music, […]
The FBI has arrested 46 doctors and nurses across the country for their part in a massive $712 million Medicare scam. In one of the arrests owners of a mental health facility in Miami billed tens of millions of dollars for psychotherapy sessions based on treatment that never occurred. In many cases, the health professionals simply moved […]
Walmart is the largest retailer in the United States with 4,300 locations, and the largest in the world with 11,000 stores globally. In 2014, the giant corporation brought in $473 billion in sales. With nearly $500 billion in annual sales, the customer base on Walmart is closely monitored to determine who shops at the brick […]
Facebook recently implemented a new hiring process that requires recruiters to consider minority candidates, similar to the NFL’s longstanding “Rooney Rule.” According to Bloomberg, Facebook has made a point to include at least one minority candidate for open positions in some departments. It’s a proactive (well, reactive) move to address the glaring diversity deficiency in […]
Oil prices jumped on Wednesday after a new industry report showed a bigger-than-expected fall in U.S. oil stockpiles. The American Petroleum Institute reported a 2.9 million barrel decrease in U.S. oil stocks for last week. Prices could rise further after the closely watched U.S. Energy Information Administration is released on Wednesday afternoon. Analysts polled by The Wall Street […]
Reddit user Dan Lin has created an epic chart that shows the mean-wage breakdown for every single profession in America tracked by the Bureau of Labor Statistics. Most of the top wages are owned by people working in the medical field while the lowest wages are paid to people working in the food and hospitality […]
Nearly 33% of American workers have less than $1,000 stashed away for retirement. A recent study released by the Employee Benefit Research Institute (EBRI) as part of the Retirement Confidence Survey (RCS), also found that $25,000 in savings puts the average American in better shape than 50% of respondents. According to the study, of those who had […]
Chinese phone maker Xiaomi has hired Wang Xiang, the former head of Chinese operations at Qualcomm. Wang is joining Xiaomi as senior vice president of strategic cooperation. “Wang Xiang is a highly experienced executive with an in-depth understanding of the communications industry,” said Xiaomi founder and CEO Lei Jun in a statement. “He was the […]
The U.S. budget deficit improved further in May on news that revenue continued to rise faster than expenses have over the past year, the Treasury Department reported on Wednesday. The budget has improved thanks in large part to higher tax revenue and stronger-than-expected economic growth. The decrease in the US budget deficit continues even as […]
