Sections SEARCH Skip to content Skip to site index Business Subscribe Log In Log In Today’s Paper Business | Bank of America Will Lift Minimum Wage to $20, as Lawmakers Spotlight Inequality Advertisement Supported by ByEmily Flitter April 9, 2019 A day before he was to appear at a congressional hearing focused on the biggest banks in the United States, Bank of America’s chief executive, Brian Moynihan, said on Tuesday that the bank planned to raise its minimum wage to $20 an hour from $15 over the next two years. It was another example of how big banks are trying to deal with shifting political winds in Washington, where they face new scrutiny under the Democrats, who now control the House of Representatives. Income inequality has become a key focus of some liberal lawmakers, some of them part of the tide of Democrats swept into office in last year’s midterm elections. And now the … [Read more...] about Bank of America Will Lift Minimum Wage to $20, as Lawmakers Spotlight Inequality
Why do governments regulate banks
Sections SEARCH Skip to content Skip to site index Subscribe Log In Log In Today’s Paper DealBook | DealBook Briefing: Boeing Comes Under Government Scrutiny Advertisement DealBook Supported by March 18, 2019 Good Monday morning. (Was this email forwarded to you? Sign up here .) Prosecutors and regulators circle Boeing In the wake of two fatal crashes involving its 737 Max 8 airplane that shared similarities, Boeing finds itself with prosecutors and regulators inspecting its development processes and safety assessments. • A grand jury in Washington, D.C., issued a subpoena dated March 11 — the day after the Ethiopian Airlines crash — seeking documents from at least one person involved in the development of the 737 Max jets, the WSJ reports. • The Transportation Department inspector general’s office was also reportedly examining the plane’s design certification before … [Read more...] about DealBook Briefing: Boeing Comes Under Government Scrutiny
The president of the Federal Reserve Bank of Minneapolis offered a little something for everyone when he spoke to the Minnesota Senate Finance Committee Tuesday. Neel Kashkari said that if Minnesota is to meet its workforce needs over the coming decades, it needs to be open to more immigration, not just from within the United States but from around the world. But he also said that if the state wants to take on its housing shortage, especially at prices accessible to low-and-middle-income households, it needs to rely on the private sector — and therefore must look at how government regulations and requirements contribute to the high cost of building. While more open immigration policies are core to the Democratic agenda, over-regulation of the economy fits well with that of Republicans. Those were hardly the only hard-to-pigeonhole views Kashkari expressed to lawmakers Tuesday. Kashkari took over the Minneapolis Fed in 2016 and is one of the 12 members of the Federal … [Read more...] about At Capitol, Minneapolis Fed chief talks immigration, affordable housing, and why Minnesota’s labor shortage may not be all that
By WSJ Fri., Feb. 22, 2019 This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. Chinese President Xi's special envoy is in Washington for trade talks. Can he deliver the kind of structural reform the U.S. is demanding? Good morning. Jeff Sparshott here to take you through key developments in the global economy, including the paradox of strong hiring and weak investment, sagging home sales, more warnings signs from Europe and Asia, and physical exertion on the job. Send us your questions, comments or suggestions by replying to this email. CAN HE DELIVER? President Trump is set to meet with Chinese Vice Premier Liu He on Friday. The White House is counting on the special envoy to get Beijing to accept tough new trade strictures. Both sides are focused on reaching a deal before a March 1 deadline that could see tariffs on $200 billion in Chinese imports rise to 25% from 10%. But deep … [Read more...] about Real Time Economics: Why Aren’t Companies Investing More?
Jan 24, 11:54 AM EST Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Opinion By Andrew J. Hoffman and Ellen Hughes-Cromwick 01/23/19 AT 1:18 AM As the United States endures the longest shutdown in its history, Americans are getting a taste of life without government.The absence of some services are clearly visible, such as a buildup of trash at national parksor longer lines at airport security checkpoints. Others, like those felt primarily by businesses, are less noticeable but arguably more important, such as an inability to get a small business loan or limited service from the IRS, Securities and Exchange Commission and other key agencies.Collectively they show that government matters. But once the shutdown ends and the memories of the pain and discomfort it caused begin to fade, the visceral reminder Americans got of this message may fade with it.As scholars of business and policy, we believe … [Read more...] about Shutdown’s Economic Impact Is A Forceful Reminder Of Why Government Matters