Economics

Shannon Reaves, the owner of body care maker Bath Savvy, had to make a call in June: Reopen her retail store or cut the lease and move on. The Harper Woods resident chose the latter. She closed her shop in the Rust Belt Market in downtown Ferndale in favor of focusing her efforts online during…

Even billionaires need to start somewhere - and often that's with a college education. See which colleges produce the most American billionaires.

Starbucks said it would directly connect the building of inclusive and diverse teams to the pay of its executives.

Detroit-based online retailer Ash & Erie has had great success since its start in 2015 and the clothier is determined to not let the pandemic slow its momentum.The company, which specializes in clothes for men 5 feet 8 inches and shorter, primarily has focused on clothes for professionals, but…

The Republican-controlled Legislature wanted to spread skyrocketing unemployment insurance costs across all taxpayers as a way of helping businesses. Democratic Gov. Gretchen Whitmer is having none of it.But that's not going to stop the bill from coming due.Whitmer's line-item veto Tuesday of the…

It's the thought that counts, which is good because in economic terms, gift exchange is a disaster.

It is no exaggeration to say that learning economics changed my life. In fact, I would go as far as saying the two most pivotal moments of my young adulthood was meeting my future wife at 17 and...

A group of Wayne County residents affected by the pandemic has received an early Christmas present.Wayne County officials on Wednesday distributed $500 one-time payments via debit card to each of about 12,000 restaurant, fitness and entertainment venue employees. Those workers, all Wayne County…

Amy Sternberg has been urging customers to be patient, but she's running out.Sternberg is one of many business owners dealing with delivery delays at the U.S. Postal Service during a holiday shipping crush made worse by the pandemic.Sternberg runs Artworks by Amy, curating handmade items for people…

In the latest sign of distress in the hotel market, the Westin Book Cadillac in downtown Detroit is now underwater on its commercial mortgage-backed securities debt totaling $77 million. Trepp LLC, which tracks CMBS debt, says that the 453-room hotel's appraised value plunged dramatically from $136…

/PRNewswire/ -- According to the latest Future of Money Study from Logica Research, COVID-19 continues to impact Americans' money mindset. Key study findings...

Federal Reserve Chair Jerome Powell has frequently urged lawmakers, using increasingly strong language, to pass more fiscal stimulus.

The unemployment rate doesn't tell the whole story. We talked to a panel of economists to find out what other measures can shed light on whether we're in a short-term crisis — or the start of a long recession.

Mortgage rates fell to another record low last week, for the 15th time this year.

As the pandemic batters the poor, the rich prop up state budgets.

Michigan regulators on Thursday approved a $100 million electric rate hike for Consumers Energy, authorizing the state's second-largest utility to bill the average residential customer about $9 more per month starting in January.The increase for residents is nearly 12 percent after factoring in…

Hello Everyone, I hope that this note finds you all healthy and well. This pandemic and resulting isolation has reminded us of the deep need for human connections, people’s adaptability and...

Apple Inc is moving forward with self-driving car technology and is targeting 2024 to produce a passenger vehicle that could include its own breakthrough battery technology, people familiar with the matter told Reuters.

How does the COVID-19 market crash compare to previous financial crises? We navigate different contextual factors impacting crashes.

How oil prices went negative: this explainer shows how a collapse in demand, a Saudi-Russia price war, and oversupply led to futures prices going wonky.

Investing is about building wealth, and it can help you prepare for the future. By investing, you give yourself the chance to create a rich harvest, giving yourself the resources you need to pursue your dreams and to take care of loved ones.

Michigan lawmakers and Gov. Gretchen Whitmer agreed to a $465 million pandemic spending plan, including relief payments to businesses and workers struggling to stay afloat because of the coronavirus and government restrictions to curb its spread.The legislation, which passed 35-2 in the Senate late…