News of the Day

  • U.S. Third-Quarter GDP Expands at 3.5% Rate

    The U.S. economy expanded at a healthy pace during the third quarter, a sign of sustained growth fueled by government spending and a narrower trade deficit despite mounting concerns about the health of overseas economies.Gross domestic product, the broadest measure of goods and services produced across the economy, advanced at a seasonally adjusted annual rate of 3.5% in the third quarter, the Commerce Department said Thursday. Economists surveyed by The Wall Street Journal had forecast growth at a 3.1% pace for the quarter.

  • The $720 boost from falling gas prices

    The OPEC oil cartel is not happy about falling gasoline prices, but Americans are pretty chipper about it. Consumers confidence soared in October to the highest level in seven years in no small part because Americans are paying less to fill up at the gas station.How much less? Regular gasoline has fallen to a nationwide average of $3.06 a gallon from as high as $3.70 in late June. The 17% plunge in gasoline over the past four months put prices at a four-year low and they are likely to go even lower. Many analysts think gasoline could fall below $3 a gallon — in many places the price already has ) and stay there until at least early next year.

  • Consumer confidence jumps in October

    U.S. consumer confidence rose in October to its highest level since October 2007 as views on the job market improved, according to a private sector report released on Tuesday.The Conference Board, an industry group, said its index of consumer attitudes rose to 94.5 from a upwardly revised reading of 89.0 the month before. Economists had expected a reading of 87.0, according to a Reuters poll.September's reading was originally reported as 86.0

  • 7 Things the Middle Class Can’t Afford Anymore

    During debates and speeches, politicians often bring up the financial burden that’s placed on the middle class. We talk about the middle class as though they are this singular entity, who used to thrive until they underwent persecution by the evil 1%. But, realistically speaking, the middle class and the 99% are not really synonymous. So, who are the middle class? In its discussion of historical middle class societies, The Economist reports, “Their members are neither rich nor poor but somewhere in-between…’Middle-class’ describes an income category but also a set of attitudes…An essential characteristic is the possession of a reasonable amount of discretionary income. Middle-class people do not live from hand to mouth, job to job, season to season, as the poor do.”

  • ‘Wasting Time on the Internet’ Is Now an Ivy League Class

    Students at the University of Pennsylvania will soon have a novel way of fulfilling an English Department requirement, thanks to a new class that’s all about the Internet.Required materials for the class, called “Wasting time on the Internet,” include a laptop and a Wi-Fi connection but notably exclude any printed material that might distract students from their mandated allotment of time-wasting. “Students will be required to stare at the screen for three hours, only interacting through chat rooms, bots, social media and listservs,” according to the course description on the university’s website, first spotted by Vice Motherboard.

  • Republicans have Senate takeover in their sights, races remain close

    After eight years in the proverbial wilderness, Republicans are feeling confident about their chances of reclaiming the Senate majority in next week’s elections – as the two-year, bare-knuckle battle boils down to about 10 key races in the final days.From Alaska to Iowa to Louisiana, candidates are locked in tight and tough battles, with Republicans needing a net total of six seats to take control of the Senate – and, presuming they hold their House majority, Congress. The Obama factor has loomed large over the races, as Republicans methodically have tried to tie their rivals to the unpopular president

  • Jeb Bush takes jab at Hillary Clinton

    Jeb Bush took a hard jab at potential 2016 rival Hillary Clinton on Wednesday night, slamming her for her comment that businesses don’t create jobs as she stumped at a rally with Sen. Elizabeth Warren last week. Bush made the comment as he campaigned in Colorado for Republicans on the ticket.It’s one of the rare times that Bush, who has said he’s considering a presidential run of his own in 2016, has engaged in hitting Clinton, the dominant front-runner for the Democratic nomination if she chooses to run for president a second time.

  • Weight Watchers sees profit slimmed 37%

    Weight Watchers International Inc.'s third-quarter profit fell 37% as the company continued to lose members, losing ground to free smartphone apps and other gadgets that track calories.The New York company, which started in the early 1960s as a group of friends met in Queens to discuss how to lose weight, has struggled to retain paying members and has recorded significant declines in its weight-loss meeting attendance, once the building block of its business model.As of Sept. 27, the number of active subscribers fell 12.5% from Sept. 28, 2013, the end of the year-ago quarter.

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