Jul 22, 2014, 12:48 pm EDT
Obamacare subsidies for health care plans have been ruled illegal in 36 states.
A federal appeals court ruled that the federal government may not subsidize health care insurance in states that did not set up their own marketplaces. Obamacare requires states to set up exchanges and 36 states opted not to.
Those states will no longer receive federal aid to pay subsidies for insurance plans in those states. Low income families and individuals rely on these subsidies as the federal government pays up to 100% of the premiums for some insurance plans for people. Read
Jul 17, 2014, 2:56 pm EDT
New Jersey Gov. Chris Christie isn’t claiming responsibility for the ban of Tesla Motors’ (TSLA) vehicles in the state.
Christie claims that his administration turned a blind eye to Tesla for a full year to give them time for what it was doing, but that it couldn’t continue to do so. He went on to say that he doesn’t like the law that bans the company from selling cars either, but that he couldn’t just ignore a law he didn’t like, reports The Star-Ledger.
Christie also said that he had a bill on his desk that would allow Tesla to operate in the state, but that it would only further hurt anti-competition in the state. He is actually referring to two bills that may be combined into a single bill, The Star-Ledger notes. Read
Jul 17, 2014, 1:55 pm EDT
A Malaysia Airlines plane was shot down between the Ukrainian and Russian border on Thursday.
The commercial flight was carrying 295 passengers who were traveling from Amsterdam to Kuala Lumpur when a Buk launcher missile hit the plane, according to Anton Gerashenko, an advisor to Ukraine’s inerior minister.
The Malaysia Airlines flight attack is still being investigated and Ukraine president Petro Poroshenko assures that Armed Forces of Ukraine had no part in it. The attack took place only a day after President Barack Obama announced a new round of sanctions on Russians. Read
Jul 15, 2014, 1:53 pm EDT
Staples (SPLS) will end its pilot program of mini in-store post offices.
The move comes amid protests from US postal workers and labor unions regarding the retailer’s partnership with the US Post Office. The American Postal Workers Union believes that the program put the jobs of unionized postal workers at risk considering the move could lead toward privatization.
Staples’ pilot program offered only USPS shipping services at postal service counters in 82 stores across four states. The retailer will now be part of the Post Office Approved Shipper program. Read
Jul 14, 2014, 12:11 pm EDT
Marijuana stock Enertopia (ENRT) boomed Monday morning thanks to the approval of medical marijuana in Burlington, Ontario.
The company announced that the city of Burlington has legalized the cultivation, production and sale of medical marijuana in zoned locations. Toronto had already legalized the sale of medical marijuana but Burlington had yet to open a facility until now.
“It needs to be mentioned that there was no negative feedback during the public hearing process, a true testament to growing acceptance of Medical Marihuana being used as a medicine for people in pain or other chronic conditions,” said Robert McAllister, CEO of Enertopia Corp. Read
Jul 10, 2014, 11:29 am EDT
The amount of government waste in 2013 was still sky-high as the U.S. made roughly $100 billion in improper payments.
This massive figure includes a number of improper payments such as unqualified tax credits, unemployment benefits given to citizens who are employed and medical payments for those who don’t need it.
The U.S. government waste can be attributed mostly to overpayments which account for roughly $97 billion. About $9 billion in underpayments also occurred. Read