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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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The key to the housing recovery is still investors

Category : Stocks

The nature of the housing rebound will depend on who is doing the buying ? and that’s increasingly investors.

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Statement by the Honourable Joe Oliver, P.C., M.P. on Canada’s Successful Softwood Lumber Agreement Arbitration Case

Category : Stocks

OTTAWA, ONTARIO–(Marketwire – July 21, 2012) - “I am pleased with the decision by the London Court of International Arbitration, which is important for Canada’s world-class softwood industry and the workers and families whose jobs depend on it. Our government will continue to promote the forest sector as it is vital to the Canadian economy.

See the original post here: Statement by the Honourable Joe Oliver, P.C., M.P. on Canada’s Successful Softwood Lumber Agreement Arbitration Case

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Prudential Study Reveals One in Six Will Retire with No Pension

Category : World News

Prudential has revealed that one in six people retiring this year will have to depend on the State Pension as they have no other pension.

Link: Prudential Study Reveals One in Six Will Retire with No Pension

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Prudential Study Reveals One in Six Will Retire with No Pension

Category : World News

Prudential has revealed that one in six people retiring this year will have to depend on the State Pension as they have no other pension.

View original post here: Prudential Study Reveals One in Six Will Retire with No Pension

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America’s hall of mirrors recovery | Robert Reich

Category : Business

US economic growth is grotesquely distorted, with the benefits bloating the 1%, while middle-class Americans are still pinched

The economy added only 120,000 jobs in March – down from the rate of more than 200,000 in each of the preceding three months. The rate of unemployment dropped from 8.3 to 8.2%, mainly because fewer people were searching for jobs – and that rate depends on how many people are actively looking.

It’s way too early to conclude the jobs recovery is stalling, but there’s reason for concern.

Remember: consumer spending is 70% of the US economy. Employers won’t hire without enough sales to justify the additional hires. It’s up to consumers to make it worth their while.

But real spending by American consumers (adjusted to remove price changes) this year hasn’t been going anywhere. It increased just 0.5% in February, after an anemic 0.2% increase in January.

The reason consumers aren’t spending more is simple: they don’t have the money. Personal income was up just 0.2% in February – barely enough to keep up with inflation. As a result, personal saving as a percentage of disposable income tumbled to 3.7% in February, from 4.3% in January. Personal saving is now at its lowest level since March 2009.

American consumers, in short, are hitting a wall. They don’t dare save much less than they are now because their jobs are still insecure. They can’t borrow much more. Their home values are still dropping, and many are underwater – owing more on their homes than the homes are worth.

The economy has been growing, to be sure, but almost all the gains have gone to the very top. This is the most lopsided recovery on record.

You will hear other theories about the hiring slowdown, but they don’t wash. It’s not due to “uncertainty” about the economy. That’s a tautology – the economy’s future is always uncertain, especially when consumers don’t have the dough to keep it going.

It’s not because of fears about a European recession. Europe has been in the skids for some time now. Besides, the American economy doesn’t really depend on exports to Europe.

And it’s not about gas prices or the rise in healthcare insurance premiums. Both are up, but they’ve been trending up for many months.

It’s consumers whose pockets are almost empty.

We’ll avoid a double dip, but the most likely scenario in coming months is a continuation of the same – an anemic jobs recovery. President Obama will claim the economy is improving – and, technically, it is. Growth has probably slowed to around 2%, but that’s still growth. The problem is that most Americans aren’t feeling it in their paychecks.

Mitt Romney will claim the economy is in terrible shape – and there will be enough evidence to justify his “cup half-empty” rhetoric. But Romney is the perfect foil for Obama because Romney represents the richest of the rich – a man who raked in more than $20m last year, and paid a tax rate of just 13.9% (lower than much of the middle class).

He made that money by buying up “under-performing” companies – that is, companies that employed more people than they needed to, and had less debt than they needed to show big profits (interest on debt is deductible from company income). Romney’s firm, Bain Capital, made him and his colleagues fortunes by firing workers and loading companies up with debt.

And there’s the problem in a nutshell. Romney and his ilk are doing wonderfully well, but the rest of the nation is still in deep trouble. Yet the US economy can’t fully recover on the spending of millionaires.

The president has already announced that this election is about America’s surge toward ever-greater inequality. He’s right. And this painful “recovery” shows that. It would be sadly ironic if Obama lost the upcoming election because the economy responded to widening inequality exactly as expected.

Russia’s civil society is key

Category : World News

The future of democracy in Russia will depend on the correct relationship between “people” and “power” — the two major elements constituting any society.
In a normal democratic society, political parties serve as focal points of public opinion, crystallizing different approaches and policies in their programs and actions.

Continue reading here: Russia’s civil society is key

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Workers’ Comp Carriers May Tap Labor Market Surveys to Lower Benefits

Category : World News

Do you know what a labor market survey is? If you are receiving workers’ compensation payments, a labor market survey could be a threat to the income you depend on.

See original here: Workers’ Comp Carriers May Tap Labor Market Surveys to Lower Benefits

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State Explains Delays in Florida Child Support Payments

Category : World News

Recent delays in child support payments processed by the Florida Department of Revenue posed potential difficulties for over 200,000 parents statewide who depend on timely payments after divorce.

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Outline approved for Hague treaty bills

Category : World News

A Justice Ministry panel on Tuesday gave the green light for the ministry to write bills for new domestic laws in preparation for signing the Hague Convention, which would theoretically promise other countries that Japan will try its utmost to return abducted children.
Critics, however, are not too optimistic because whether children will be returned to their original countries will depend largely on how Japan’s family court judges interpret any new laws.

Continued here: Outline approved for Hague treaty bills

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