Industry

We’ll get the latest government data on the labor market in a couple hours. Analysts are predicting unemployment held steady in May at 4.4 percent, with 185,000 jobs added — right in line with average job growth for the past six months. Now President Trump has promised faster job growth under his administration—25 million new […]

Illinois’ credit rating is now just short of junk. That’s the news after a downgrade from S&P Global Ratings. The agency cited Illinois’ budget stalemate and its $14.5 billion in unpaid bills. It will take more revenue and more cuts to make any progress, but the state’s regular legislative session just ended — with no […]

There were protestors in front of Goldman Sachs’ offices in Manhattan yesterday who were angry with the bank for a purchase it made. Goldman bought $2.8 billion worth of Venezuelan bonds from the state-owned oil company through a broker. It struck a real bargain, too, getting them for 31 cents on the dollar. That means […]

In yet another blow to the brick-and-mortar retail business, luxury retailer Michael Kors announced it will close up to 125 of its full-price stores. The company and its competitors have been facing slowing sales as more customers shop online and spend less on apparel.  Michael Kors CEO John Idol announced the store closures in today’s […]

International visitors spent nearly $250 billion in the U.S. last year, according to federal data. Now, a report shows that foreign tourism is down 16 percent from a year ago. That’s from the location intelligence company Foursquare. Major destinations like New York and Los Angeles have separately reported their own declines. Canada and other countries […]

Americans’ credit scores are averaging way higher, around 700 according to a new report from FICO. Credit agencies are also cleaning up their rolls and getting old or bad data off people’s reports. Plus, many people who went into bankruptcy during the financial crisis are now returning to credit-worthiness as the statute of limitations comes […]

If you use T-Mobile as your cellphone carrier, you’ll be getting a new, free service called DIGITS tomorrow (Weds 5/31). Here’s how it works: You can get calls from multiple numbers to one phone or use one phone number across multiple devices. So, for example, send text messages from your laptop or redirect work calls […]

Seventy and a half. That is the magic age that starts mandatory withdrawals from 401(k)s and other tax-deferred retirement accounts. The oldest members of the baby boom generation start hitting that age this year, and the milestone is expected to have significant implications for the financial services industry. Click the audio player above to hear […]