economics

US Insurance Industry Fights Regulation To Scrap Agent Commissions, Boosting Retirement Savings By $3B Annually

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US Insurance Industry Fights Regulation To Scrap Agent Commissions, Boosting Retirement Savings By B Annually

The US Labor Department’s new proposed standard to protect retirement savers who roll over money from their 401(k)s to individual retirement accounts (IRA) is facing massive backlash from the insurance industry. The rule will ensure insurance agents transition from selling products for high commissions to recommending investments that benefit clients during rollovers. The move will … Read more

Bank of Canada cuts key interest rate to 4.25%

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Bank of Canada cuts key interest rate to 4.25%

The Bank of Canada lowered its key interest rate to 4.25 per cent on Wednesday, the third consecutive cut since June.  The central bank said the reduction comes after “continued easing in broad inflationary pressures.” The key interest rate was lowered by another 25 basis points, following a pattern established earlier this summer when rates were … Read more

3 Recession-Proof Lessons We Can Learn From the Medspa Industry

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3 Recession-Proof Lessons We Can Learn From the Medspa Industry

Opinions expressed by Entrepreneur contributors are their own. Estée Lauder chairman Leonard Lauder called it the “lipstick effect” — the growth in demand for small luxuries during times of economic uncertainty. The assumption behind this phenomenon is that when people are under more stress, beauty and self-care rituals offer a form of psychological comfort. McKinsey … Read more

Harris’ price control ‘Kamanomics’ plan risks scaring away Wall Street donors on the fence

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Harris’ price control ‘Kamanomics’ plan risks scaring away Wall Street donors on the fence

Now that Kamala Harris is leading in presidential polling, one of the big questions on Wall Street and corporate America involves her economic agenda: Will it be a carbon copy of the progressive crap show known as Bidenomics? She did, after all, sit quietly while her boss, Joe Biden, and his Federal Trade Commission chief, … Read more

Israel-Iran conflict escalates, destabilizing economies in Mideast 

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Israel-Iran conflict escalates, destabilizing economies in Mideast 

Iran’s main stock market index fell 3% on Saturday, reflecting concerns about escalating conflict with Israel that may result in a prolonged and potentially devastating war. Investors are anxious that increased fighting with Israel would have repercussions on vital Iranian sectors like energy, manufacturing, and services. For more stories from The Media Line go … Read more

Goldman Sachs economists raise ‘limited’ risk of US recession to 25% chance: report

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Goldman Sachs economists raise ‘limited’ risk of US recession to 25% chance: report

Economists at Goldman Sachs raised the likelihood of the US economy slipping into a recession within the next 12 months from 15% to 25% while continuing to view the risk of recession as limited, according to a report. Goldman economists led by Jan Hatzius, the firm’s chief economist and head of global investment research, wrote that they … Read more

Canadian seniors are wealthier than ever. Do seniors’ discounts still make sense?

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Canadian seniors are wealthier than ever. Do seniors’ discounts still make sense?

Cost of Living9:09Is it time to retire the seniors’ discount? Whether she’s attending a chamber performance or playing in one, cellist and teacher Laura Backstrom says one thing is pretty consistent — the audience “looks like a sea of white hair,” she says. In contemplating why that is, Backstrom, 60, said she initially thought it was because seniors … Read more

JPMorgan Strategist Who Predicted Biden Withdrawal Has Gloomy Outlook For EV Sector, Ukraine War

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JPMorgan Strategist Who Predicted Biden Withdrawal Has Gloomy Outlook For EV Sector, Ukraine War

JPMorgan Asset Management strategist Michael Cembalest had previously predicted that President Joe Biden would drop out from this year’s presidential race in his list of “top 10 possible surprises for 2024” published in the company’s Jan. 1 “Eye on the Market Outlook” report. “President Biden withdraws sometime between Super Tuesday and the November election, citing … Read more

Is it OK to choose ‘no tip’ at the counter? Some customers think so

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Is it OK to choose ‘no tip’ at the counter? Some customers think so

Cost of Living5:15Zero dollar tip revenge When Alessandro Montelli was asked to tip when paying for a bottle of water at a local coffee shop, he knew something had to change with tipping culture. The Torontonian and recent university graduate had just finished a run and wanted to rehydrate. The barista behind the counter handed … Read more

Hayek, the Accidental Freudian | The New Yorker

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Hayek, the Accidental Freudian | The New Yorker

In November, 1977, on a still-sticky evening along Louisiana’s Gulf Coast, the Austrian economist and philosopher Friedrich Hayek boarded a flight bound for Chile and settled into his seat in first class. He was headed to the Valparaíso Business School, where he was scheduled to receive an honorary degree. Upon arrival in Santiago, the Nobel … Read more