Package delivery and logistics company UPS said Monday it plans to hire about 100,000 seasonal workers in November and December for the holiday season. The number of employees is 5,000 more than UPS hired for the season last year. The company said the new workers will work at UPS facilities nationwide, and at temporary facilities strictly for the holiday rush. UPS said it expects an increase in package volume from November through January. The seasonal hires will be mostly package … [Read more...]
Though volatile, supply-side woes resurface to push oil prices higher
Monetary policy balanced against renewed questions about the supply of crude oil in the second half of the year to add volatility Friday to the price for oil. Crude oil prices moved erratically in Thursday trading as calls for restraint from Saudi Arabia offset gains in U.S. oil storage and production. There was a brief sigh of relief over the lack of spare capacity, the amount of oil producers could put on the market in short order, though those concerns resurfaced on Friday. "Even with … [Read more...]
Mexico hits back with $3 billion in tariffs on U.S. products
Retaliating for tariffs imposed by the Trump administration, Mexico hit back Tuesday with fiscal penalties on U.S. exports like pork, steel, cheese and whiskey. The Mexican tariffs, announced last week, officially took effect Tuesday. In addition to other moves against American-made products, Mexican officials set tariffs on U.S. pork shoulder and legs at 10 percent, and they will rise to 20 percent by July 5. Experts say that duty could usher in $100 million losses every year for U.S. … [Read more...]
Slower growth signs drag on oil prices
Amid higher oil prices for the year, the OECD signals there were signs of a slowdown in the world's advanced economies. A forecast of slower growth in the world's advanced economies and signs of a possible OPEC blink contributed to a downturn in crude oil prices early Wednesday. The price for Brent crude oil, the global benchmark, again flirted with $80 per barrel in the Tuesday session in response to increased U.S. pressure on Iran and Venezuela, both members of the Organization of … [Read more...]
U.S. gasoline prices at four-year high for early January
The average retail price for a gallon of gasoline is up 13 cents from this time last year. Retail gas prices started the year at their highest level in four years, with some regional inventories at their lowest levels in seven years, a survey found. Motor club AAA reports a national average retail price of $2.49 for a gallon of regular unleaded gasoline Wednesday, up about 4 cents from last week and 13 cents per gallon more than this date last year. By AAA's account, this is the most … [Read more...]
JCPenney to close up to 140 stores
JCPenney plans to shutter as many as 140 stores in the coming months, the latest traditional retailer to announce closings. The department store chain did not disclose how many jobs would be cut, but it said it is also offering early retirement to 6,000 full-time employees. Because it will hire to fill those buyout positions, the company said it expects a net increase in hiring, even counting the job cuts from closed stores. The closings should take place by the end of June. The … [Read more...]
Best places to live, Texas fares well
Don't worry, be happy on the coast of southwest Florida. The Naples-Immokalee-Marco Island metro area was tops in contentment for the second year in a row, according to the Gallup-Healthways 2016 well-being rankings. The survey says residents there feel safer than residents in any other community in the nation. The Town of Barnstable, Massachusetts, and Santa Cruz-Watsonville, California, took second and third place overall in the composite index. The border city of Fort Smith, … [Read more...]
Gallup poll: Crime victims more likely to own guns
Crime victims report higher rates of gun ownership than those without weapons, according to findings from Gallup crime surveys. Thirty-three percent of recent victims of assault, theft and property crime in the United States reported that they own a gun, compared to 28 percent of adults who haven't been recent crime victims, according to Gallup. During its annual Crime survey, Gallup asks Americans if in the past 12 months they personally have been the victim of a number of crimes. In most … [Read more...]
Steady U.S. gas prices mask underlying volatility
Retail gasoline prices moved slightly lower on average over the last week, though U.S. infrastructure issues made for a volatile market, motor club AAA said. AAA reports a national average retail price for a gallon of regular unleaded gasoline at $2.21, just a fraction of a percent lower than the previous day and relatively unchanged from last week. The retail market is volatile, however, with the spread between the highest state-wide average of $2.79 in California is more than 40 percent … [Read more...]
How Apple paid just 0.005% tax on its global profits
Why is the European Union going after Apple for $14 billion in unpaid taxes? Consider this: In 2014, the corporate giant paid just $50 in tax for every million it made selling iPhones and iPads to most of the world outside America. That's a tax rate of just 0.005%. Yes, you read that correctly. So how was that allowed to happen? Apple has funneled most of its profits from Europe, the Middle East, Africa and India through Ireland for decades. Nothing usual in that. Others do it … [Read more...]
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