Economy
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Bankruptcies on the rise across US economy, large corporate filings highest in 15 years
Among the big companies that filed for bankruptcy were JoAnn Fabrics, Spirit Airlines and Hooters restaurants
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California presses wealth tax despite national unpopularity, billionaires threats to flee
A ballot initiative currently being prepared for November 2026, known as Initiative 25-0024 or the “2026 Billionaire Tax Act,” would impose a one-time 5% levy on the net worth of individuals and trusts with at least $1 billion in assets as of January 1, 2026.
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Louisiana businessman sells company for $1.7B, allocates $240M as bonuses for employees
The deal in which Eaton acquired Fibrebond committed payouts averaging over $400,000 to each of the 540 employees, to be paid out over five years.
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U.S. Chamber of Commerce names Suzanne Clarke as CEO to replace outgoing Tom Donahue
Donohue is stepping down after 24 years at the helm of the powerful lobbying institution
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Struggling New York City restaurants can reopen for indoor dining Friday
Restaurants have been closed for indoor dining since Dec. 11.
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Nonpartisan congressional office: Gradual $15 minimum wage hike would cost 1.4 million jobs
Congressional Democrats are debating whether to include the wage-hike measure in President Biden's $1.9 trillion aid package
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Lawsuit claims hedge fund shorted private investigators while pursuing short-sell scheme
"Imprudent investment decision" reportedly led to major losses, breach of contract, suit argues.
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Canada extends cruise ship ban into 2022, a blow to Alaska's tourism industry
"Cruise vessels in Canadian waters pose a risk to our health care systems."
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U.S. economy added 49,000 jobs in January, following December losses
December was the first month since April of last year that the U.S. economy shed jobs
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Catholic dioceses got billions in virus aid, making them perhaps country's biggest recipient, report
High profile companies like Shake Shack and Ruth's Chris Steak House returned the money they initially received
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First-time U.S. jobless claims fall for second consecutive week, feds
The number of claims also was the lowest in two month.
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In latest stock frenzy, Reddit investors pump joke currency 800%
"Dogecoin" soars to record high, adds over $7 billion.
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U.S. economy grew by 4% in fourth quarter, positive sign in pandemic-stricken 2020
The U.S. economy posted its worst year for growth since World War II