• What?

    DOLLARNOMICS was created to empower young adults about the business world around them. With limited time, this blog site includes briefs about personal finance, company earnings, money for college and basic biz news.

Fed keeps 2 percent interest rates

The Federal Reserve decided to keep the federal funds rate at 2 percent, as the country faces a sluggish economy with rising inflation.  Economic activity expanded in the second quarter, partly reflecting growth in consumer spending and exports. On the other hand, financial markets continue to struggle. Other factors influencing the decision were related to … Continue reading

Jobless rates highest in 4 years

The country’s unemployment rate reached its highest level in four years, for July. Unemployment climbed to 5.7 percent from 5.5 percent, as employers cut 51,000 jobs. Particularly, jobs in the manufacturing, construction and service providing industries were cut. Analysts suggest some employers are cutting jobs because of the weighing high energy prices and existing housing situation. The … Continue reading

Apple 3Q profits soar

Apple Inc., a San Francisco, Calif.-based technology company, third quarter profits jumped 31 percent, which some analysts say was helped by the new iPhone and the ever-popular sleek Macintosh notebooks. This beat Wall Street’s estimate. This hip tech savy company posted revenue of $7.46 billion and net profited $1.07 billion, for the third quarter ending … Continue reading

Gas prices fall back

Consumers are now getting somewhat of a break, at the pump. Gas prices continued to fall overnight, according to news reports.  According to AAA, the current (Monday, July 21) average for regular unleaded gas in Illinois is $4.17, medium at $4.49, premium at $4.63 and diesel at $4.82. The average on Sunday, July 20 was … Continue reading

iPhone sells TODAY

Apple’s newest sleek gadget, the iPHone 3G goes on sell this morning in the U.S. It’s an updated version of the iPhone.  How much is it? $199 for 8 gigabytes and $299 for 15 gigabytes. Know that you’re required to purchase a mandatory two-year service agreement, but it’s about half the price of the original … Continue reading

Student loans

The variable rates for Federal Stafford and PLUS Loans were lowered on July 1. According to FinAd, a Web site devoted to financial aid, said the existing interest rates on the Stafford Loan are 6.62 percent during in-school and grace periods and 7.22 percent during the repayment period. The current interest rate on the PLUS … Continue reading

Siemens to slice nearly 17,000 jobs

Siemens AG announced Tuesday it plans to cut approximately 16,750 jobs, or 4.2 percent of its worldwide work force, to save on operations and cut roughly $2 billion in cost. The job cuts are the result of a slowing economy, according to the Germany-based technology company.  All About Siemens A G ADR NYSE: SI CEO: … Continue reading

U.S. Apartments vacancy unchanged

The U.S. Apartment vacancy was unchanged at 5.9 percent, whereas the household number fell by 40 percent from a year ago May.

Starbucks to close 600 stores

Drinkers of foam-filled lattes and $5 plastic wrapped veggie sandwiches are wondering whether their local coffee giant Starbucks will close soon. The Seattle, Wash. based bean coffee giant announced earlier this week that it plans to close 600 U.S. stores. Source: Youtube All About Starbucks NASDAQ: SBUX Founder & CEO: Howard D. Schultz President: James … Continue reading

Five Ways to Reduce Your Debt

Debt – The state of owing, as defined by Merriam Webster Dictionary.  As Americans, our debt which includes but not limited to medical bills, student loans, credit card loans and mortgages, often times exceeds our Household Income. We buy lavishes of gold and sliver to be compared to the Jones’, but know that financial freedom … Continue reading