The Federal Reserve held rates steady Wednesday — again deciding not to cut — which means anyone who carries a balance on their credit card isn’t getting a break from sky-high interest charges. “It is becoming clearer and clearer that the Fed isn’t going to lower interest rates anytime soon,” said Matt Schulz, chief credit
In my first report from Alaska, I focused on the policy discussions in the state regarding retirement issues. Today, I’m sharing a bit more about my experiences here in Alaska. As spring breaks, I’ve found Alaska to be warm and welcoming. The people I’ve met with this week are friendly, honest, and sincere in their
In this article PARA Follow your favorite stocksCREATE FREE ACCOUNT Shari Redstone, Paramount Global, attends the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, July 11, 2023. David A. Grogan | CNBC Sony Pictures and private equity firm Apollo Global Management have sent a letter to the Paramount Global board expressing interest
Coterra Energy topped Wall Street expectations Thursday with first-quarter results that further proved the Club holding’s nimble production strategy is the right one for shareholders. Revenue in the three months ended March 31 fell 19% year over year to $1.43 billion, beating the consensus forecast of $1.39 billion, according to analyst estimates compiled by LSEG.
Internal Revenue Commissioner Danny Werfel speaks during his swearing in ceremony at the IRS in Washington, D.C., on April 4, 2023. Bonnie Cash | Getty Images News | Getty Images The IRS has released an update on its strategic operating plan, which outlines “major accomplishments” in taxpayer service, technology and enforcement since its infusion of
U.S. President Joe Biden delivers remarks on lowering costs for American families during a visit to Goffstown, New Hampshire, U.S., March 11, 2024. Kevin Lamarque | Reuters The fight against inflation was going well for the Federal Reserve and economy for much of last year and into 2024, but one important demographic remained unconvinced about
The subject of financial exploitation of elders in our country has been on law enforcement radar for decades. Significant public education programs on this topic by states, counties, and elder-focused organizations are ongoing, but are they doing any good? There was an increase in financial elder exploitation by 14% over the last year, according to
In this article PTON Follow your favorite stocksCREATE FREE ACCOUNT Barry McCarthy, president and CEO of Peloton Interactive, walks to a morning session at the Allen & Company Sun Valley Conference on July 06, 2022 in Sun Valley, Idaho. Kevin Dietsch | Getty Images Peloton announced Thursday that CEO Barry McCarthy will be stepping down
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. U.S. stocks were higher Thursday as Wall Street mulled over the Federal Reserve’s latest interest rate signals from the session prior. The central bank left rates unchanged Wednesday, and Fed
A general view of the atmosphere during The Art Institute of Atlanta commencement ceremony at Riverside EpiCenter on June 17, 2022 in Austell, Georgia. Marcus Ingram | Getty Images The Biden administration on Wednesday announced that it would forgive more than $6.1 billion in student debt for 317,000 former students of The Art Institutes, the
Westend61 | Westend61 | Getty Images Between rising costs for groceries and fuel, increased debt levels, and shrinking savings, people are having trouble seeing the overall economic growth reflected in their bank accounts. Our recent research with CNBC showed that the “vibecession” has a hold over many people, and now those sentiments appear to resonate with
After several abortive attempts over three presidential administrations, the Department of Labor (DOL) once again has issued a new Fiduciary Rule. In 2016, Obama’s DOL issued its version of the Fiduciary Rule in the final year of his presidency. Within two years, however, the Fifth Circuit vacated that rule. In the final year of its
In this article CVNA Follow your favorite stocksCREATE FREE ACCOUNT Vehicles are seen on display at a Carvana dealership in Austin, Texas, on Feb. 20, 2023. Brandon Bell | Getty Images Shares of Carvana popped more than 30% during after-hours trading Wednesday after the automaker reported record quarterly results and turned a profit during the
In this article XOM CVX EQNR-NO SHEL-GB Follow your favorite stocksCREATE FREE ACCOUNT The Shell logo is displayed outside a petrol station in Radstock on February 17, 2024 in Somerset, England. Matt Cardy | Getty Images News | Getty Images British oil giant Shell on Thursday reported stronger-than-expected first-quarter profit, boosted by higher refining margins
In this article BTC.CM= Follow your favorite stocksCREATE FREE ACCOUNT The logo of the cryptocurrency Bitcoin (BTC) can be seen on a coin standing in front of a Bitcoin chart. Silas Stein | Picture Alliance | Getty Images Bitcoin on Wednesday plunged sharply to its lowest level in over two months amid broader risk-off sentiment
The Federal Reserve announced Wednesday it will leave interest rates unchanged as inflation continues to prove stickier than expected. However, the move also dashes hopes that the Fed will be able to start cutting rates soon and relieve consumers from sky-high borrowing costs. The market is now pricing in one rate cut later in the year, according to the CME’s
Amid deeply troubling public employee recruitment and retention challenges, the Alaska Senate recently passed a bill to return public employees to a defined benefit pension plan. This would reverse a 2005 decision that closed Alaska’s two statewide pension plans to new hires. I’m in Alaska this week meeting with stakeholders and sharing the findings from
In this article SBUX CMG MCD QSR-CA YUM Follow your favorite stocksCREATE FREE ACCOUNT A Starbucks logo is seen as members and supporters of Starbucks Workers United protest outside of a Starbucks store in Dupont Circle, Washington, D.C., on Nov. 16, 2023. Kevin Dietsch | Getty Images It’s finally here: the long-predicted consumer pullback. Starbucks
Estee Lauder tumbled Wednesday as investors focused on the company’s weak fiscal fourth-quarter outlook instead of its strong third-quarter numbers. We’re looking deeper and believe that business fundamentals and profit are set to improve into the next fiscal year. Revenue in the three months ended March 31 advanced 5% year over year to $3.94 billion,
WASHINGTON – The Federal Reserve on Wednesday held its ground on interest rates, again deciding not to cut as it continues a battle with inflation that has grown more difficult lately. In a widely expected move, the U.S. central bank kept its benchmark short-term borrowing rate in a targeted range between 5.25%-5.50%. The federal funds rate has
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