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Express Tribune
4 hours ago
- Business
- Express Tribune
K-P seeks FED hike on gas, levy on oil
The Finance Ministry has raised concerns over the financial management of the oil and gas sector. PHOTO: PEXELS Listen to article The provincial government run by Pakistan Tehreek-e-Insaf (PTI) in Khyber-Pakhtunkhwa (K-P) has demanded that the federal government increase federal excise duty (FED) on gas as well as introduce a similar levy on oil in the upcoming budget for fiscal year 2025-26. Sources told The Express Tribune that special assistant to the K-P chief minister on energy and power took up the matter in a recent meeting with representatives of the federal government. He apprised them that the FED on gas had not been revised for a long time and the duty had not been imposed on oil despite repeated requests from the provincial government. Consequently, he said, Article 161 of the Constitution remains unimplemented. He requested the urgent attention of the federal government towards revising the FED on gas, based on the Consumer Price Index (CPI), and imposition of FED on oil in the upcoming budget. K-P has emerged as a major oil and gas producing province. Therefore, it wants more revenue on the hydrocarbon production. During the meeting, the federal and provincial governments decided that the director (oil) would carry out a consumer impact analysis in consultation with the K-P government and place the matter before the prime minister for a decision. In the meantime, the provincial government may also request the Finance Division and the Federal Board of Revenue (FBR) to include the FED on oil in the FY26 budget. Regarding the FED on gas, it was decided that the director (gas) would conduct a consumer impact analysis in consultation with the K-P government and place the matter before the prime minister for a decision. Meanwhile, the provincial government may also ask the Finance Division and the FBR to revise the FED on gas in the budget. Moratorium on gas connection The K-P government has also requested the federal government to relax the moratorium on new gas connections on an immediate basis in its oil and gas producing districts. These districts are arguing that it is their right to receive gas supply. However, there have been many cases in some K-P districts where residents are receiving direct gas supply without paying bills, causing increase in the circular debt. In order to expedite the execution of new gas development schemes in the oil and gas producing districts of K-P, it was decided that the director general (gas) would share cost estimates with the Energy & Power Department of the province. These schemes will be executed on a cost-sharing basis between Sui Northern Gas Pipelines Limited (SNGPL) and the K-P government through the provision of funds in the FY26 budget. The special assistant to the K-P CM also drew attention towards the forced curtailment of gas supply from various fields in the province, which has not only resulted in production losses and damage to reservoirs, but also caused substantial revenue loss to the provincial government in the form of royalties, windfall levy, etc. He requested the establishment of a mechanism to avoid the forced reduction of oil and gas production at local fields in the best interest of both the province and the federal government.
Miami Herald
12 hours ago
- Business
- Miami Herald
Highest-paying jobs in Miami
Despite recession fears and falling consumer confidence, the job market in the United States has remained relatively stable in 2025 thus far. According to May 2025 Bureau of Labor Statistics data, around 177,000 new jobs were added in April, a slight decrease from the 185,000 new jobs added in the month before, but an extension of the country's 52-month streak of job growth. Unemployment rates also held relatively steady between April 2024 and April 2025, coming in at around 4%. Of course, that doesn't necessarily mean Americans have it easy in the workplace. A December 2024 Payscale report found that nearly half (47%) of business organizations struggle to balance fair pay practices with spend optimization, and 18% plan to reduce pay increases in 2025 as a result. For context, median weekly earnings across all employees in the U.S. stood at $1,194 in the first quarter of 2025. This represents an increase of 4.8% from a year prior and exceeds the Consumer Price Index's 2.7% increase in the same time period. However, there's one caveat: Earnings go much further in some places than in others. In fact, the very definition of a "high-paying" job varies by location, as well as other factors such as industry and benefits. Even a six-figure salary may be considered low-income in places with an unusually high cost of living. Meanwhile, technology, finance, and health care jobs lead in terms of salary, but benefits like remote work can make other lower-paying jobs more desirable. Regardless, anyone seeking a high-paying job should start by looking at the numbers. Stacker used BLS data to find the 50 highest-paying jobs in Miami. Jobs are ranked by their median annual pay as of May 2024, so any jobs without annual compensation figures available were excluded from this analysis. - Median annual wage: $123,850 - Median hourly wage: $59.54 - Total employment: 260 people (0.1 of every 1,000 jobs in the area) - Median annual wage: $124,330 - Median hourly wage: Not available - Total employment: Not available - Median annual wage: $124,540 - Median hourly wage: $59.88 - Total employment: 50 people (0.02 of every 1,000 jobs in the area) - Median annual wage: $124,870 - Median hourly wage: $60.03 - Total employment: 640 people (0.23 of every 1,000 jobs in the area) - Median annual wage: $125,930 - Median hourly wage: $60.54 - Total employment: 350 people (0.13 of every 1,000 jobs in the area) - Median annual wage: $126,320 - Median hourly wage: $60.73 - Total employment: 1,200 people (0.43 of every 1,000 jobs in the area) - Median annual wage: $126,490 - Median hourly wage: $60.81 - Total employment: 1,110 people (0.4 of every 1,000 jobs in the area) - Median annual wage: $126,570 - Median hourly wage: $60.85 - Total employment: Not available - Median annual wage: $127,600 - Median hourly wage: Not available - Total employment: 3,810 people (1.37 of every 1,000 jobs in the area) - Median annual wage: $128,320 - Median hourly wage: $61.69 - Total employment: 10,780 people (3.87 of every 1,000 jobs in the area) - Median annual wage: $128,420 - Median hourly wage: $61.74 - Total employment: 2,370 people (0.85 of every 1,000 jobs in the area) - Median annual wage: $129,130 - Median hourly wage: $62.08 - Total employment: 3,150 people (1.13 of every 1,000 jobs in the area) - Median annual wage: $129,840 - Median hourly wage: $62.43 - Total employment: 17,710 people (6.37 of every 1,000 jobs in the area) - Median annual wage: $129,920 - Median hourly wage: $62.46 - Total employment: 26,720 people (9.6 of every 1,000 jobs in the area) - Median annual wage: $130,010 - Median hourly wage: $62.51 - Total employment: 2,570 people (0.92 of every 1,000 jobs in the area) - Median annual wage: $131,690 - Median hourly wage: $63.31 - Total employment: 310 people (0.11 of every 1,000 jobs in the area) - Median annual wage: $131,790 - Median hourly wage: $63.36 - Total employment: 1,260 people (0.45 of every 1,000 jobs in the area) - Median annual wage: $131,820 - Median hourly wage: $63.38 - Total employment: 210 people (0.08 of every 1,000 jobs in the area) - Median annual wage: $132,160 - Median hourly wage: $63.54 - Total employment: 220 people (0.08 of every 1,000 jobs in the area) - Median annual wage: $133,170 - Median hourly wage: $64.03 - Total employment: 470 people (0.17 of every 1,000 jobs in the area) - Median annual wage: $134,220 - Median hourly wage: $64.53 - Total employment: 6,450 people (2.32 of every 1,000 jobs in the area) - Median annual wage: $134,790 - Median hourly wage: $64.81 - Total employment: 560 people (0.2 of every 1,000 jobs in the area) - Median annual wage: $135,250 - Median hourly wage: $65.02 - Total employment: 1,740 people (0.62 of every 1,000 jobs in the area) - Median annual wage: $135,450 - Median hourly wage: $65.12 - Total employment: 9,200 people (3.31 of every 1,000 jobs in the area) - Median annual wage: $137,170 - Median hourly wage: $65.95 - Total employment: 5,300 people (1.91 of every 1,000 jobs in the area) - Median annual wage: $144,180 - Median hourly wage: $69.32 - Total employment: 110 people (0.04 of every 1,000 jobs in the area) - Median annual wage: $146,050 - Median hourly wage: $70.21 - Total employment: Not available - Median annual wage: $149,870 - Median hourly wage: $72.05 - Total employment: 1,780 people (0.64 of every 1,000 jobs in the area) - Median annual wage: $154,470 - Median hourly wage: $74.27 - Total employment: 15,290 people (5.5 of every 1,000 jobs in the area) - Median annual wage: $157,580 - Median hourly wage: Not available - Total employment: 3,340 people (1.2 of every 1,000 jobs in the area) - Median annual wage: $164,240 - Median hourly wage: $78.96 - Total employment: 710 people (0.25 of every 1,000 jobs in the area) - Median annual wage: $165,910 - Median hourly wage: $79.76 - Total employment: 8,840 people (3.18 of every 1,000 jobs in the area) - Median annual wage: $167,270 - Median hourly wage: $80.42 - Total employment: 2,350 people (0.84 of every 1,000 jobs in the area) - Median annual wage: $168,160 - Median hourly wage: $80.84 - Total employment: 1,530 people (0.55 of every 1,000 jobs in the area) - Median annual wage: $185,730 - Median hourly wage: $89.29 - Total employment: 240 people (0.09 of every 1,000 jobs in the area) - Median annual wage: $204,220 - Median hourly wage: $98.19 - Total employment: Not available - Median annual wage: $219,070 - Median hourly wage: $105.32 - Total employment: Not available - Median annual wage: At least $239,200 - Median hourly wage: At least $115.00 - Total employment: 500 people (0.18 of every 1,000 jobs in the area) - Median annual wage: At least $239,200 - Median hourly wage: At least $115.00 - Total employment: 130 people (0.05 of every 1,000 jobs in the area) - Median annual wage: At least $239,200 - Median hourly wage: At least $115.00 - Total employment: Not available - Median annual wage: At least $239,200 - Median hourly wage: At least $115.00 - Total employment: 1,670 people (0.6 of every 1,000 jobs in the area) - Median annual wage: At least $239,200 - Median hourly wage: At least $115.00 - Total employment: 100 people (0.04 of every 1,000 jobs in the area) - Median annual wage: At least $239,200 - Median hourly wage: At least $115.00 - Total employment: 820 people (0.29 of every 1,000 jobs in the area) - Median annual wage: At least $239,200 - Median hourly wage: At least $115.00 - Total employment: 440 people (0.16 of every 1,000 jobs in the area) - Median annual wage: At least $239,200 - Median hourly wage: At least $115.00 - Total employment: 700 people (0.25 of every 1,000 jobs in the area) - Median annual wage: At least $239,200 - Median hourly wage: At least $115.00 - Total employment: Not available - Median annual wage: At least $239,200 - Median hourly wage: Not available - Total employment: 3,270 people (1.18 of every 1,000 jobs in the area) This story features data reporting by Wade Zhou, writing by Cu Fleshman, and is part of a series utilizing data automation across 364 metros. © Stacker Media, LLC.
Yahoo
13 hours ago
- Business
- Yahoo
US deficit is an 'economic stabilizer' amid uncertainty
Despite worries about the impact of President Trump's changing tariff policies, the US economy is chugging along. Inflation softened in April, fresh data shows, yet soft data about consumer sentiment remains low. Smead Capital Management CEO Cole Smead says it's the US's deficit that is supporting the economy despite spikes in uncertainty. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Tariff volatility is back on Wall Street. President Trump lashing out against China this morning, saying China has violated its agreement with the US. Meantime, Treasury Secretary Scott Beston saying talks with China are quote, a bit stalled. His comments coming after a federal appeals court offered Trump a temporary reprieve from that ruling that did deem his tariffs illegal. Joining us now to break down where to ride out the trade-induced volatility is Cole Smead. He is CEO of Smead Capital Management, which oversees more than $7 billion in assets under management. Cole, it's great to have you in the studio. Thank you for being here. We were just talking about this morning's inflation data indicating that there is a little bit more progress when it comes to prices than we saw in the Consumer Price Index print, but the tariffs still remain a headwind, and that certainly played out in this morning's economic data. How does that impact your investments going forward? Yeah. Um, well, add one more thing, you had consumer confidence hit a low. A low that we saw in 2020, a low that we saw in '09, and also 2011, okay? And I say that because, um, when you put all these things together, I think it's really incredible how the US economy has functioned despite high levels of uncertainty, particularly for business spending, okay? Um, if you go talk to business owners right now, they're pretty scared about the whole tariff situation. I was in an event, someone was, uh, you know, makes guitars for a living, and they were just freaking out. Um, go talk to people on Main Street, and they're not like at soccer practice being like, you know, what's going on today with tariffs? Um, and I say that because it shows you the difference between business. Are they not though? I mean, consumer sentiment numbers have been plummeting. In New York, yes. But in Main Street America, no. That's the best evidence. What is your what is your evidence of that? Are you talking to people across America? Uh, well, I I just mean if you just go talk to people day-to-day, like I I run into investors, I run into people in the media business, and I run into people in, you know, business owners. And again, that's a big idea for them, especially if you import or export your goods, okay? Um, when it comes to day-to-day beyond that, um, that's just not showing up. I'll give you a picture of this. Um, what are we spending in deficit? It's 7%. We normally only spend that. If you look back at the history, we did it, big deficit in World War I, big deficit in World War II. But we quickly tightened up our budget to get back to a much lower level of deficit or none at all. We have not tightened our belt at all. And what that's doing is it's providing this huge economic stabilizer and buffer in the economy. So this is a lot of uncertainty to pour onto the economy in, say, a 60-day stretch. And yet at the same time, economy's not falling off. Consumers' spending is not falling off. Why not? And the answer is because it's really tough to stop an economy when you're spending this much in deficit. And no one's really saying that, by the way. But well, to the very report that you just mentioned, the Consumer Confidence, they actually wrote in and said the tariffs are still top of mind for consumers' minds. That was in the write-in responses. The first mentioned in that stanza as well. So to say that they're not talking about it is incorrect based on that same report you're citing. Correct. Correct. But if you look at it, the spending though isn't going negative. What you're saying is the difference between the soft and the hard data, it sounds like. Correct. When also, that's that soft data is bad data to invest based on. So at low points in the data, what should you expect? That the economy is going to pick up. Because I said 9, 11, 20 and today. And so I would expect the economy picks up because when those people survey, they're telling you, like the weatherman, hey, it's sunny today. It's like, why already know that? Um, they're telling you that there's uncertainty. But the reality is you can't invest based on that. Well, I think we're going to wake up in 6 to 12 months. We're going to find out is we did not slow the US economy because until we slow our deficit spending, you can't slow it. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14 hours ago
- Business
- Yahoo
The Fed's Preferred Inflation Gauge Was Milder Than Expected In April
Inflation in April fell to 2.1%, its lowest annual increase since September, and nearly to the Federal Reserve's goal of a 2% annual rate. April may be the low point for inflation for a while, as tariff costs begin to be passed on to consumers. April was a good month for household budgets overall, with income rising far faster than fell more than expected, dropping nearly to the Federal Reserve's target of a 2% annual rate by one prices rose 2.1% over the year in April as measured by Personal Consumption Expenditures, the Bureau of Economic Analysis said Friday. That was the lowest annual inflation since September. The inflation rate was lower than the expectations of forecasters, who had called for a 2.2% increase according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. Falling gas prices helped push down PCE Inflation, just as they did with the Consumer Price Index, a separate inflation measure released earlier this wasn't just gas prices that pushed inflation down, however. "Core" inflation, which excludes the volatile prices for food and energy, fell to a 2.5% monthly increase from 2.7%, the lowest since March 2021 and also lower than median forecasts. The Fed uses core PCE inflation to assess whether prices are increasing at its target rate of 2% a year. Unexpectedly cool inflation bolsters the case for the Fed to cut its benchmark interest rate, which it has held at higher-than-usual levels this year to stamp out the last remnants of the post-pandemic burst of inflation. However, Fed officials have been reluctant to cut interest rates until the effects of President Donald Trump's tariff campaign on the economy become clearer. Many economists predict tariff-related price increases and slowdowns will start affecting key economic measures such as inflation and unemployment in the coming months. "If there wasn't a trade war going on, we all might have been impressed by the resumption of inflation progress," Ali Jaffery, an economist at CIBC, wrote in a and White House officials have called on the central bank to lower interest rates, which would put downward pressure on interest rates for all kinds of loans. Fed officials have resisted that pressure for fear that Trump's high import taxes will stoke inflation. As of April, trade-related inflation hadn't materialized, even though several tariffs were already in outlook is muddy because tariff rates have changed frequently and drastically, through Trump's policy changes, and now with the court repealing and reinstating certain tariffs. Apart from the inflation data, the PCE report showed economic trends favorable to household budgets. Personal income rose 0.8%, the largest increase since January 2024, faster than the 0.1% monthly increase in consumer prices. Spending rose 0.2%, and the savings rate rose to 4.9%, the highest in a year, as households pocketed the extra said the jump in income was partly due to a surge in Social Security payments stemming from the Social Security Fairness Act, a law signed by former President Joe Biden in January just before he left office. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16 hours ago
- Business
- Yahoo
2026 Social Security COLA Predictions: Here's What Experts Are Saying
The 2025 COLA increase of 2.5% for Social Security recipients was one of the lowest since 2021, and so far, signs are pointing to an even lower increase for next year. We're still about five months out before we get an official announcement from the Social Security Administration, so there's plenty of room for that to change -- in either direction. Experts in the field have been making predictions for the 2026 COLA since the beginning of this year, and an initial prediction of a 2.1% bump next year has been followed by a slight shift upward month by month. Whether these expert takes will match the official number remains to be seen -- especially with the economic uncertainty spurred by the Trump administration's tariffs agenda -- but we'll break down the latest for you below. I've been steeping myself in all things Social Security for the past year, writing timely articles that surface the most relevant details for existing and soon-to-be beneficiaries and their families. Even if, like me, you're a long way from retirement, staying up to date with expert takes will keep you informed for when it's time for you or your loved ones to retire. The COLA adjustment will be one of the most important announcements of the year. For more, don't miss the Social Security and SSDI cheat sheet. The cost-of-living adjustment, otherwise known as the COLA or COLA increase, is an annual change in the payment scale made by the Social Security Administration. It's pegged to the Consumer Price Index for Urban Wage Earners and Clerical Workers, which measures the average changes in prices for consumer goods and services and is updated monthly by the Bureau of Labor Statistics. These monthly snapshots in the changes to prices of goods and services allow the SSA to see the overall average and determine the COLA for the following year as a percentage of the current payment levels. For Social Security and Supplemental Security Insurance recipients, the COLA percentage represents how much more you'll receive in monthly benefits in the new year. It takes effect Jan. 1 and stays in effect for the calendar year. The official COLA announcement typically takes place sometime in October. How the COLA is calculated has become a hot topic, given that the model sets the adjustment for the entire year ahead. The Senior Citizens League, a nonpartisan advocacy group for older adults, last year conducted a study of 3,000 older adults. A key takeaway: 72% of respondents said that Congress should prioritize changing the COLA calculation to an index that's more reflective of the changing expenses for seniors, like the CPI-E. There are multiple government benefits that use the COLA to make adjustments. In addition to Social Security, the adjustment applies to Social Security Disability Insurance and Supplemental Security Income, Medicare, Supplemental Nutrition Assistance Program to account for inflation when setting benefits. The League provides monthly predictions of what the upcoming COLA will be for the following year, and they were spot on for 2025's, predicting a 2.5% COLA. In January, the League predicted a 2.1% increase for 2026 and has adjusted that upward since then. Its latest prediction, as of April 2025, sits at 2.4%. The prediction comes after the recent executive order by the Trump administration, targeting pharmaceutical companies and pushing for cheaper drug costs. Despite the upward trend over the past few months, the League predicts the 2026 COLA to be the lowest since the 1.3% COLA in 2021. This, of course, is all subject to change, not least because of the economic uncertainty highlighted by the Trump administration's tariffs. For more, don't miss the Social Security and SSDI cheat sheet. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
