4 JC Penney stores in Wisconsin to close in nationwide reduction – Madison.com

Richland Center Mayor Paul Corcoran didn’t see it coming. The J.C. Penney store in his community is one of four in Wisconsin, and 138 nationwide, slated for closing, the apparel, accessories and home furnishings retailer announced Friday. “Penney’s never contacted the city to see if we could do something to help […]

Disney will pay $3.8 million in back wages after feds allege wage and hour violations – Orlando Sentinel

The Walt Disney Co. has agreed to provide $3.8 million in back wages to thousands of hotel- and timeshare-resort workers after the U.S. Labor Department investigated violations of minimum wage, overtime and recordkeeping rules. Disney will pay back wages to 16,339 employees. That averages out to about $233 per worker. The labor department said employees […]

Rate hikes: Now the question is, how quickly? – CBS News

The wise New York Yankee Yogi Berra once said: “I never make predictions, especially about the future.” But Federal Reserve policymakers, who announced a quarter-point interest rate increase on Wednesday, made clear they expect two more such hikes this year, with a similar steady pace through 2019. Will they be able to pull off the […]

The full list of 138 JC Penney stores closing around the US – The Boston Globe

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Trump to release ‘hard power budget’ with cuts to State Dept, EPA – CNN

Chat with us in Facebook Messenger. Find out what’s happening in the world as it unfolds. Trump to release ‘hard power budget’ with cuts to State Dept, EPA – CNN

Fed Raises Benchmark Rate as Inflation Approaches 2% Target – Bloomberg

Watch Next: Yellen’s Rate Hike Comments in Two Minutes (Video) Federal Reserve Chair Janet Yellen sought to reassure investors that the central bank’s latest interest-rate increase wasn’t a paradigm shift to a trigger-happy policy driven by fears of faster inflation. Speaking to reporters after the Fed’s quarter percentage-point move on Wednesday, Yellen said […]

Trump paid $38 million in income taxes in 2005, the White House says – Washington Post

President Trump paid $38 million in federal taxes in 2005 on income of $153 million and reported a $105 million write-down in business losses, according to a copy of his tax return first revealed Tuesday night. Trump paid an effective tax rate of 24 percent and saved millions of dollars in additional taxes by claiming the losses, […]

Janet Yellen this week could tee up a stealth rate hike for later this year – CNBC

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Valeant Slumps After Longtime Backer Ackman Exits With a Loss – Bloomberg

Valeant Pharmaceuticals International Inc. stock slumped after Bill Ackman, once its biggest champion, exited the struggling drugmaker at a loss. After waging a costly and outspoken public defense of the controversial drugmaker, Ackman said late Monday that he sold his entire stake and that he would leave the board. The shares, already down more than […]

Trump Fed appointees may lack desire to hike rates, says strategist Mark Grant – CNBC

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