Monthly Archives: September 2014

U.S. Q2 GDP Revised Higher

On Friday, the Commerce Department announced an upward revision on second quarter GDP growth to 4.6%–from 4.2% as was first reported. 4.6% marks the fastest growth rate since the fourth quarter of 2011, when the economy grew at the same … Continue reading

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Markets Worldwide Hit by Resignation of Pimco’s Gross

News of Pacific Investment Management Co.’s, or Pimco’s, ousting of founder and acclaimed “Bond King” Bill Gross caused ripples throughout several different markets this week. The news comes fairly recently after former CEO Mohamed El-Erian’s surprise departure earlier this year … Continue reading

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Defaults on Federal Student Loans Decline

Defaults on federal student loans declined in 2013, for the first time in years, but they still remained far above prerecession levels. The previous reported default figures have showed a sharp increase through the economic downturn. In fact, the situation … Continue reading

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Dollar Returns as Preferred Currency for Global Investors

The U.S. dollar has once again emerged as the preferred currency for global investors. After one of its longest weak spells ever, dollar forecasts are being raised across the world based on a resurging American economy. Signals that the Fed … Continue reading

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Bill Gross Exit Leads to Outflows at Pimco

Following the resignation of former CEO Mohammed El-Erian in January, Mr. Gross resigned this week from the company he co-founded in 1971. He has also announced that he will be moving on to Janus Capital Group. Even though his resignation … Continue reading

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Despite Minor Speed Bumps, IPhone Debut Still Huge Success

America’s strongest smartphone brand debuted its two most important products of this year. Apple Inc.’s iPhone 6 and the iPhone 6 Plus were initially available for purchase in 10 countries, including the U.S., Japan, Germany, and Hong Kong, and later … Continue reading

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Los Angeles and San Francisco Threaten Ride-Sharing Firms

Authorities in San Francisco and Los Angeles have intended to put a brake on the popular ride-sharing services, accusing them of violating California state and local laws. The district attorneys said that Sidecar Inc., a company provides carpooling service violated … Continue reading

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