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Federal Reserve Votes to Raise Interest Rates

For the first time in nearly ten years, the Federal Reserve has raised interest rates. Bloomberg reports that the Federal Open Market Committee unanimously voted to set the new target range for the federal funds rate at .25 percent to ...

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U.S. Federal Reserve Set to Raise Rates

At 2 p.m. today, the U.S. Federal Reserve is set to raise rates for the first time since 2006. Markets are prepared for a 25 basis point liftoff, says Reuters. Fed officials have given indication that they will act cautiously ...

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Congress Settles on $1.1 Trillion Spending Package

Late last night, congressional leaders announced a deal on a $1.1 trillion, year-end tax and spending package that averts a government shutdown and funds the government through October 2016. The package reverses a 40-year ban on exporting oil while extending ...

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Starwood Names New CEO, Sorenson Talks Exec Job Cuts

Starwood Hotels & Resorts has named a new CEO, effective Dec. 31, following the resignation of interim CEO Adam Aron, who is leaving the company to become CEO and President of AMC Entertainment Holdings. Thomas B. Mangas, currently EVP and ...

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Monitoring Proposed Overtime Pay Changes Recommended

In July 2015, the U.S. Department of Labor issued a proposed regulation to raise the threshold of overtime pay for salaried employees working over 40 hours per week from $23,660 to $50,440. John R. Hunt, an attorney with Stokes Wagner ...

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Airbnb to Pay Fair Share in Illinois

In a major win for Chicago hoteliers, Airbnb will begin collecting and remitting full hotel taxes on behalf of its hosts in Chicago. In February, the short-term online rental company began adding Chicago’s 4.5 percent hotel tax to renters’ bills, ...

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