Economy
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German retail sales seen falling more than expected in 2023 as inflation bites
German retail sales are expected to fall more than previously expected in 2023, according to the German retail federation HDE, with high inflation expected to squeeze consumer spending. Retail sales are seen falling by 4% in real terms, down from a previous estimate of a 3% contraction, the HDE said. Data last week said Germany’s…
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‘This is a game changer’: Ahead of Amazon Prime Day, a new law makes it harder for online sellers to hawk fake or stolen products
Shopping online has just gotten safer. The INFORM Consumers Act, which went into effect last week, aims to limit the sales of stolen and counterfeit products on e-commerce platforms. The measure, which requires e-commerce sites to verify and disclose information about their high-volume third-party sellers, was passed into law following a lobbying campaign to address…
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These fully remote jobs pay over $100,000 a year — but there are a couple of caveats
It may sound too good to be true, but it’s not. At least, not according to careers website Glassdoor. For those looking for remote jobs that pay six figures, there are numerous options. But there’s a catch: Many of these high-paying roles require advanced degrees, such as in computer science, or medicine, or require years…
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Los Angeles hotel workers strike: Companies, union remain far apart
As hotel workers in Los Angeles struck for a second day Monday — and with thousands more workers poised to join them in what could be the biggest hotel-industry strike in years — the hotels and the union representing the workers appear to be nowhere close to reaching an agreement. Workers at almost 20 hotels…
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South Korea’s inflation pace slows to 21-month low
South Korea’s headline inflation slowed to a 21-month low in June after easing for a fifth consecutive month. The benchmark consumer-price index gained 2.7% from a year earlier in June — the slowest pace since September 2021 — after rising 3.3% on year in May, the country’s statistics office said Tuesday. Higher comparison bases a…
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Supreme Court blocked Biden’s student-loan forgiveness. Here’s what happens next for your loans.
Student-loan payments are poised to resume this fall without smaller balances now that the U.S. Supreme Court has blocked President Joe Biden’s loan cancellation plan. The Biden administration’s loan forgiveness initiative would have canceled up to $10,000 of debt for eligible borrowers, and in some cases up to $20,000. But the Supreme Court’s conservative majority…
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What if you can’t pay back your student loans when payments start again? These are your options.
With the pause on student-loan payments set to end in October, many student-loan borrowers may be asking themselves, “What can I do if I can’t afford to pay my student-loan bill?” Don’t panic — you have options. There are ways to either lower your payment obligations or to defer payments, albeit temporarily, according to the…
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My inherited investment accounts have lost $28,000. Can I liquidate them and take a tax write-off?
My mother passed away in first quarter 2021, leaving me a designated beneficiary brokerage account and an IRA account. The total amount of these accounts invested in stocks and ETFs was at that time $150,000. Since then, due to the market (or my poor management), those accounts are totaling around $122,000. Can I liquidate those…
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Bobby Bonilla Day: How the former Mets player’s financial feat illustrates the magic of compound interest
If you see Bobby Bonilla popping up all over your social media feeds on Saturday (as it tends to this time of year), it’s because July 1 marks the annual $1.2 million payday for the former third baseman — an event that has increasingly attracted interest from average Americans, even some who don’t know anything…
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Teenagers looking for summer jobs see best labor market since just after World War II
Morgan Skove, 19, an incoming sophomore at Northwestern University, was overjoyed to land a summer gig. “I was relieved that the pressure of finding a job was off and excited to start my first ‘adult’ job,” she said. With plans to pursue a career in business, Skove applied for a sales job with the platform-engagement…