Some Mexicans want to retaliate against Trump by boycotting a $2.5B export

Many in Mexico have contemplated how Mexico could retaliate against President Donald Trump since he debuted his anti-Mexican rhetoric during the campaign. In the weeks after Trump’s election, as his hardline on trade relations and immigration remained firm, Mexico’s government appeared to outline how it could rebuke the US government should it install hostile policies.…

US economy adds 235,000 jobs in February

Akin Oyedele Mar 10th 2017 8:37AM The U.S. economy added 235,000 nonfarm payrolls in February, while the unemployment rate dipped to 4.7%, a report from the Bureau of Labor Statistics showed on Friday. Economists had forecast that the U.S. economy added 200,000 nonfarm payrolls in February, according to Bloomberg. Those forecasts were raised on Thursday…

Macy’s just signaled the end of department stores as we know them

Macy’s is morphing into a discount store. The department-store chain is testing self-service systems in its shoe departments and at its beauty counters, meaning customers would serve themselves instead of finding a salesperson to retrieve shoes or make eyeliner recommendations. This model copies highly successful off-price retailers like TJ Maxx and Nordstrom Rack. Customer service…

The average salary of a millennial

If you’re a millennial, it probably won’t shock you to learn that the average salary of a millennial today is an estimated 20% lower than the average salary that a baby boomer had at the same age (in real terms). What’s more, today’s millennials are deeper in debt than their parents were at their age.…

Urban Outfitters sinks after earnings miss

Prashanth Perumal (pjeyathilagar@businessinsider.com) Mar 8th 2017 12:28PM Urban Outfitters’ shares slumped more than 8% on Wednesday morning after its fourth quarter results (for fiscal-year 2017) missed analyst estimates. The company reported earnings per diluted share of $0.55 for the fourth quarter of 2016, missing analyst expectations by a penny, down from $0.61 earned during the…

Will a border tax crush J.C. Penney?

Congressional Republicans have been touting a corporate tax reform plan that would exempt exports from taxation while preventing companies from deducting the cost of imports when calculating their taxes. The plan would also reduce the baseline corporate tax rate from 35% to 20%. After initially criticizing this proposal, President Trump has more recently shown tentative…

Sears is laying off workers to stay in business

Sears is laying off Kmart workers in an apparent move to cut costs as the company struggles to stay afloat. The layoffs, executed last week, targeted full-time workers, including assistant managers and department heads — or “leads” as Kmart calls them — across the country. Full-time workers are salaried with benefits, which makes them more…

What does the Dow at 20,000 mean?

Spencer Platt/Getty Images The Dow Jones industrial average hit the 20,000 milestone for the first time at Wednesday’s opening bell. But before you break out champagne, let’s explore what this really means. The thinking is: Bigger numbers, better economy, more money in your portfolio. But just how true is that? RATE SEARCH: Put your nest…

Department stores are facing ‘the worst results since the recession’ — and that highlights a huge problem

Retailers are reeling from weak holiday sales. Macy’s, Sears, Target, Kohl’s, and JCPenney are among the many companies that have reported lackluster sales during the critical holiday period. In the wake of the disappointing season, Macy’s and Sears are now collectively closing more than 200 stores, and analysts say JCPenney could shut down as many…