US Economy

Brennan Linsley | AP
Water flows through a series of sediment retention ponds built to reduce heavy metal and chemical contaminants from the Gold King Mine wastewater accident outside Silverton, Colorado, August 14, 2015.

On August 5, 3 million gallons of toxic sludge gushed out of the long-abandoned Gold King mine near Silverton, Colorado, and into the Animas River. The Tang-colored torrent, percolating with arsenic, lead and other pollutants, was inadvertently unleashed by Environmental Protection Agency (EPA) contractors attempting to clean up wastewater that’s been accumulating since the mine …

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For the first time in nearly a decade, a hurricane is expected to hit U.S. shores. Erika, now a tropical storm, is forecast to sweep into South Florida early Monday as a hurricane. That’s two days after the 10th anniversary of Hurricane Katrina’s U.S. landfall, and the storm could serve as a stark reminder of …

Bill Haber | AP
Patients and staff of the Memorial Medical Center in New Orleans are evacuated by boat after floodwater surrounded the facility on Aug. 31, 2005.

Most hospitals don’t have their own navy. Ochsner Baptist in New Orleans does, complete with a fleet of rescue boats and staffers who undergo water rescue training—all because of Hurricane Katrina. Ten years ago, Dr. Glenn Casey and others at the hospital scrambled to find boats, in order to evacuate patients and staff. He said …

Central bankers set to convene

Central bankers meet in Jackson Hole, Wyoming as the odds of a September rate hike erode.

Scott Mlyn | CNBC
A sign advertising an open house in Corona Del Mar, Calif.

U.S. home prices continued to rise in June, according to the S&P/Case-Shiller Home Price Index, but the increase fell short of analyst estimates. (Tweet this) The 20-city index rose 5 percent year-over-year in June. Analysts polled by Thomson Reuters had expected the index to increase to 5.1 percent. In May, the index increased 4.4 percent. …

Market moves & economic fears

A nearly ten percent drop in the Dow Jones Industrial Average has caused rate hike sentiment to shift.

Mark Ralston | AFP | Getty Images
A lone houseboat beside an almost dry section of the Shasta Lake reservoir in California last May.

The severe drought baking some parts of the United States—particularly California and the Pacific Northwest—may be increasing the risk of radon gas inside homes. As water tables drop in some areas, lower depths that can contain uranium and radon are exposed, according to experts. As the uranium ore decays over time, it produces radon, a …

Shade balls fight drought

Jane Wells explains how 96 million little black balls may help combat the California drought.

Phil LeBeau | CNBC
Mercedes benz R Class being built at the AM General assembly plant in Mishawaka, Indiana.

Lamar Ashford has been waiting a long time to see this. Five years after General Motors shut down production of the Hummer at the AM General assembly plant in Mishawaka, Indiana, the assembly line that once built the H2 is cranking out another SUV. This time, it’s the Mercedes-Benz R Class. “With this R series …

Mike Kane | Bloomberg | Getty Images
Seattle skyline

If it’s been awhile since you’ve gotten a raise, you might want to consider moving somewhere else. Despite a stubbornly slow pace of overall wage gains in the ongoing U.S. economic recovery, the average readings that make headlines mask a wide variation in the raises and pay cuts seen by workers from one part of …

Source: CNBC

As a welder, 30-year-old Richard Hobson, spent his days fusing metals together to create secure joints. Today he is an intern working on securing Morgan Stanley’s data. “We are looking for any vulnerabilities, any threats that can compromise personal information and data that is highly regarded in that organization,” he said. Hobson is a graduate …

Solid job growth in July

The jobs recovery is chugging along. Hampton Pearson tells us what the latest report means for Wall Street and Main Street.

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U.S. job gains in July fell slightly short of expectations, as unemployment did not budge from the previous month, according to Labor Department numbers released Friday. American companies added 215,000 jobs for the month, while the unemployment rate stayed unchanged from June at 5.3 percent. The labor force participation rate remained flat at 62.6. Economists …

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American companies added fewer jobs than expected last month, according to the latest ADP private payrolls report, dragged down by the struggling energy and nonvehicle manufacturing industries. ADP said Wednesday U.S. private employers hired 185,000 workers in July—below the 215,000 analysts had expected and lower than the downwardly revised additions of 229,000 for June. In …

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When an economic recovery boosts hiring, wages are supposed to go up. That’s why many economists are scratching their heads after the latest quarterly data Friday showed that overall compensation in the three months ending in June inched up at the slowest pace since 1982. “This report was a bit of a shock since it …