US can have 'unlimited minimum wage': Larry Kudlow

Larry Kudlow on minimum wage White House economic adviser Larry Kudlow on $20 minimum wage. White House economic adviser Larry Kudlow said on Tuesday that the U.S. economy is thriving and the minimum wage is headed toward $20. Continue Reading Below “We have tremendous prosperity. We are growing across the board. Unemployment is down. Wages are up. Consumers are booming — it’s […]

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EMERGING MARKETS-Dollar strength pressures Latam FX; IMF trims growth outlook

July 23 (Reuters) – A strong U.S. dollar and sliding oil prices dragged on Latin American currencies on Tuesday, while stocks were mixed amid expectations central banks around the world would cut interest rates soon. An index of Latin American currencies dropped 0.6%, with Brazil’s real falling nearly 0.8%, partly pressured by a slide in oil prices. Brazil’s consumer price […]

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There’s a strange logic to Josh Frydenberg’s stand on Newstart

It’s so familiar a part of political economy you could call it Galbraith’s Law, after John Kenneth Galbraith, the literary Canadian-American economist who put it into words. As the late senator John Button paraphrased it: the rich need more money as an incentive and the poor need less money as an incentive. Consider the first actions of the re-elected Scott […]

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Martin Gilbert to step down from Standard Life Aberdeen's board: Financial Times

LONDON (Reuters) – Veteran fund manager Martin Gilbert is to step down from the board of British fund firm Standard Life Aberdeen to take up a role as the chairman of digital bank Revolut, the Financial Times reported on Tuesday, citing sources. His departure from the group, the product of an 11 billion pound merger between Standard Life Investments and […]

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Travelers profit misses as higher claims weigh on underwriting gain

(Reuters) – Insurer Travelers Cos Inc (TRV.N) missed Wall Street estimates for second-quarter profit on Tuesday, as weather-related losses led to an 18% drop in underwriting gain. Strong wind and hailstorms during the quarter tore apart homeowners’ roofs, pummeled cars and wreaked havoc, triggering a spate of claims that proved to be challenging for U.S. insurers including Travelers. Claims rose […]

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Strong Asian demand buoys sales at Birkin bag maker Hermes

PARIS (Reuters) – Surging demand in Asia and especially mainland China helped Birkin handbag maker Hermes (HRMS.PA) post better-than-expected sales growth for the second quarter, in an encouraging signal for some of its major luxury goods rivals. The industry has so far largely shrugged off any fallout from a Beijing-Washington trade war that could potentially hit consumer sentiment in its […]

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S.Korea stocks gain as trade optimism lifts tech sector; won steady

* KOSPI index rises, foreigners net buyers * Korean won steady versus U.S. dollar * South Korea benchmark bond yield falls SEOUL, July 23 (Reuters) – Round-up of South Korean financial markets: South Korean shares climbed on Tuesday as overnight gains in U.S. semiconductor shares lifted South Korean chip giants, amid high expectations of policy easing by major central banks. […]

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