Business News
Obama Must Confront Complexity in Structuring New Fee
President Barack Obama plans to raise as much as $120 billion through a fee on financial institutions to help recoup losses from the Troubled Asset Relief Program and reduce the deficit, according to an administration official.
The White House hasn’t settled on the final structure of the fee and how to target the big banks that have returned to profitability, said the official, who request anonymity.
The plan is to have revenue from the fee dedicated to deficit reduction and to cover the Continue Reading
Entrepreneur fights stereotypes in Harlem
The historic neighborhood of Harlem has been left behind in New York City’s war on obesity, but one entrepreneur is trying to reverse the trend — and fight a stereotype.
The area that gave rise to some of the great achievements in African-American culture and commerce is now inundated with fast-food restaurants and suffers from high rates of obesity and diabetes.
The unhealthy turn has occurred despite the city’s ban on artery-clogging trans fats, expansion of bike lanes and launch of attack ads on sugary drinks, which are blamed by some health activists for the country’s obesity epidemic.
Into this seemingly fruit- and vegetable-free zone stepped Milo Meed, who earlier this month opened Island Salad, a Caribbean-inspired Harlem eatery that offers customers Continue Reading
Senate OKs $290 billion hike to debt limit
With the federal government inching close to the debt ceiling, the Senate on Thursday passed a $290 billion increase to the amount of debt the Treasury is allowed to have.
The 60-39 vote follows House approval earlier this month of the same measure. President Obama is expected to sign the bill soon.
The new law raises the debt ceiling to $12.394 trillion from $12.104 trillion.
As of Tuesday, the amount of debt subject to the limit on Treasury’s books was $12.04 trillion, just $64 billion below the limit.
The increase is estimated
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Small Business- How to Use Factoring for Cash FlowCompanies facing a cash-flow squeeze and slow-paying customers often sell their invoices or accounts receivable to specialized companies called factors. The factor advances most of the invoice amount — usually 70% to 90% — after checking out the credit-worthiness of the billed customer. When the bill is paid, the factor remits the balance, minus a transactio […]
- Tax Strategies for the Newly Self-EmployedIf you’re a staffer turned contingent worker, you need to rethink your business status, retirement funding, and deductions It used to be that the vast majority of people worked in staff jobs. But in a tough economy, the number of independent contractors, temps, part-timers, and freelancers expands. If you become a contingent worker, you’ll need to rethink yo […]
- How to Use Factoring for Cash Flow
