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Pfizer CEO says Trump’s executive orders overhauling U.S. drug pricing will cause ‘enormous destruction’

[CNBC, AP] On Friday, Trump signed four executive orders designed to bring U.S. drug prices at least on par with their costs overseas.Trump has made lowering drug costs one of his key health-care issues early in his term.The comment by Bourla came after the company reported better-than-expected second-quarter earnings and raised its outlook for 2020.President Donald Trump’s executive orders aimed […]

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The Dollar Is Dropping. What It Means and Which Stocks Might Gain.

[Barrons, Bloomberg] The dollar has been weakening in recent months and currency strategists see more declines ahead. That could call for a different playbook for investors, including more foreign holdings. In a note to clients on Monday, Goldman Sachs ’s currency strategists forecast a 5% weaker dollar in trade-weighted terms during the next year. The U.S. Dollar Inde […]

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Economic Uncertainty Drives Gold Price To A Record High

[NPR, AP] In uncertain economic times, investors tend to put their money in gold. So it’s perhaps little surprise that gold prices started to rise at the beginning of the year as the coronavirus started spreading in China and Europe and investors feared a global economic downturn. Gold prices have soared nearly 30% so far […]

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10 Ways to Build a Passive Income Stream

[US NEWS, GETTY IMAGES] If you’re industrious and innovative, these strategies can get your money working for you. SO YOU’VE BEEN TRYING to think of passive income ideas. And why not? It’s practically the American dream. We all want to lie in a hammock and make money without actually doing anything. Unfortunately, unless you come into […]

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Nearly 40% of Black-owned businesses on the brink of closure due to pandemic

[CNN] The owners of the Southwest Soda Pop Shop had run out of options. At the very moment their ice cream shop was set to ramp up for the summer season, their customers had dropped to as few as one per day as the coronavirus pandemic spread through Washington, DC. Their efforts to tap into […]

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There Won’t Be Another COVID-19 Lockdown. Here Are 3 Reasons Why

[The Motley Fool] That doesn’t mean the economy is going to come roaring back. Unbelievably, stocks have recouped just about all of their losses from the coronavirus crash. The NASDAQ reached an all-time high, topping 10,000 earlier this week, and until Thursday’s plunge, the S&P 500 was in positive territory for the year, down just a few points from […]

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Central Banks Set For Gold Rush Over Financial Crisis Fears

[Forbes] Central bankers look set to go on a gold buying binge this year in the wake of the Covid-19 pandemic, new research shows. And the leading reason for the likely desire to buy bars of bullion is fear of another financial crisis, according to a recent report from industry group World Gold Council. Central Banks […]

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What to Do With Your Money Now That We’re in a Recession

[Life Hacker, TND] After months of discussion, a brief period of optimism, and then the onset of a global pandemic, it’s official: We’re in a recession. The National Bureau of Economic Research (NBER), which studies the peaks and valleys of the U.S. economy to make this determination, declared it yesterday. “The usual definition of a recession […]

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Coronavirus Obliterated Best African-American Job Market on Record

[The Wall Street Journal] The economic situation for black workers was fragile even before the downturn, which means recovery might be slower Near the end of a decadelong economic expansion, African-Americans were finally finding some financial stability. Unemployment had reached record lows, and their wages had begun rising modestly. Anthony Steward, 34, a Milwaukee cook, personified […]

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A Crash in the Dollar Is Coming

[Bloomberg, Getty Images] The world is having serious doubts about the once widely accepted presumption of American exceptionalism. The era of the U.S. dollar’s “exorbitant privilege” as the world’s primary reserve currency is coming to an end. Then French Finance Minister Valery Giscard d’Estaing coined that phrase in the 1960s largely out of frustration, bemoaning a […]

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