US borrowed $1 trillion in five monthsOver $430 billion has been spent to service the debt, which is approaching $39 trillion, the Congressional Budget Office states ...
Flying taxis could soon take flight as FAA green-lights tests in 26 statesThe Federal Aviation Administration (FAA) announced Monday that it selected eight proposals for a new pilot program testing new advanced air mobility and electric vertical takeoff and landing (eVTOL) aircraft in 26 states.Transportation Secretary Sean Duffy and the FAA unveiled the ...
Oil spike fades as markets reassess Iran war supply risksOil prices briefly spiked to more than $100 a barrel on Monday amid the ongoing war in Iran, before falling sharply, underscoring how initial fears of supply disruptions eased as contingency plans emerged.Before the outbreak of war with Iran, oil was ...
The 'off-price' boom: Retail giant announces $2.5B buyback as discount shopping surgesEven as higher-end department stores struggle, off-price retail is thriving, showing that Americans are still spending, just more selectively.TJX Companies – which owns TJ Maxx, Marshalls and HomeGoods – blew past Wall Street expectations in its fourth quarter earnings report ...
How Social Security recipients can boost their benefit checksAmericans who are planning for their retirement can get bigger Social Security benefit checks by delaying their application for benefits until after they reach full retirement age.The monthly benefit payments to Social Security beneficiaries are determined based on their full retirement age ...
Tax refund delays hit multiple statesTaxpayers in several states may face delays in receiving their tax refunds this filing season amid changes in tax policies as well as the processes for filing returns.Tax refunds are issued to taxpayers when the amount of taxes they paid over ...
Cargo ship struck in Strait of Hormuz amid Iran warA projectile hit a Thai-flagged cargo ship off the coast of Oman in the Strait of Hormuz, setting it on fire.The Iranian regime reportedly claimed responsibility for striking the ship, the Mayuree Naree. The Omani navy was assisting in rescuing ...
February inflation breakdown: Where are prices rising and falling the fastest?The latest inflation data from the Labor Department showed that price increases continued at a steady pace in February, though some items saw notable price hikes or declines.The Bureau of Labor Statistics found that the consumer price index (CPI) rose 2.4% from ...
Fed officials closely monitor Iran conflict for potential inflation impactFederal Reserve policymakers are monitoring the conflict with Iran for its potential impact on inflation and consumer prices, as energy prices have jumped since the outbreak of hostilities.Oil prices briefly surged over $100 a barrel amid fears of supply disruptions caused ...
Inflation held steady in February and remained above the Fed's targetInflation remained elevated in February as the pace of consumer price growth stayed above the Federal Reserve's target rate as policymakers weigh affordability concerns.The Bureau of Labor Statistics on Wednesday said that the consumer price index (CPI) – a broad measure ...
Dow falls 400 points, oil spike moderates amid Middle East tensionsU.S. stocks fell on Tuesday as investors eye growing tensions in the Middle East and their potential effects on inflation and global trade.The Dow Jones Industrial Average fell 403.51 points, or 0.83%. The Dow was down 1,278 points, or 2.6%, ...
Morgan Stanley cuts 2,500 jobs despite posting record revenue year across all divisionsMorgan Stanley, one of the world’s largest investment banks, is cutting 3% of its workforce, roughly 2,500 employees, across all business divisions.The job cuts impacted Morgan Stanley’s three major divisions — investment banking and trading, wealth management and investment management ...
How the Iran war could hit Americans’ grocery billsHigh oil prices due to the Iran war are pushing gasoline prices higher and that could lead to grocery bills rising for American consumers.Oil prices surged in recent weeks after the outbreak of the Iran war, rising from the $60 to ...
Mortgage rates rise to highest level in over a monthMortgage rates climbed this week, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 6.11% from last week's reading of 6%. The average rate ...
Florida drought deepens strain on citrus industry as growers battle costs, diseaseFlorida is facing its worst drought in 25 years, intensifying pressure on a citrus industry already battered by disease, hurricanes and rising costs.According to the U.S. Drought Monitor, 100% of the state is experiencing some level of drought, with more than ...
Stanley Black & Decker to cut hundreds of jobs, shut Connecticut plantStanley Black & Decker said it will eliminate roughly 300 positions in New Britain, Connecticut, and close a manufacturing facility that produces single-sided tape measures as part of its ongoing restructuring efforts.The move is tied to what the company described ...
Papa John's reportedly weighs $1.5B buyout offer from Qatari royal family-backed firmPapa John’s International is reportedly reviewing a new proposal to take the company private in a potential $1.5 billion acquisition, according to Reuters. Irth Capital Management, a Qatari-backed investment fund supported by Brookfield Asset Management, reportedly submitted the proposal on Wednesday, ...
Netflix follows Warren Buffett's playbook: Don't overpay, walk awayWarner Bros. Discovery CEO David Zaslav may have been counting on watching one last round in the Netflix vs. Paramount Skydance boxing match to acquire the media company he runs. What he might not have anticipated was that Netflix wouldn't ...
Jack Dorsey cuts nearly half of Block workforce amid major AI overhaulBlock on Thursday announced that it will cut nearly half of its workforce as the payments firm works to embed artificial intelligence (AI) throughout its operations.The layoffs will affect over 4,000 jobs at the company and CEO Jack Dorsey indicated he moved ...
