Author: News Room

Former President Donald Trump has uttered multiple false or misleading claims about his Manhattan criminal trial this week as the trial has neared a conclusion. Here is a fact check of some of the statements Trump has made on social media and to reporters from Tuesday to Thursday morning. Merchan and the ‘advice of counsel’ After closing arguments Tuesday, Trump posted on social media to repeat his misleading complaint that Judge Juan Merchan has prevented him from employing a certain defense. Trump wrote on his platform Truth Social: “THE GREATEST CASE I’VE EVER SEEN FOR RELIANCE ON COUNSEL, AND JUDGE MERCHAN WILL NOT, FOR…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Saudi Arabia is selling roughly $12bn worth of shares in its national oil company Saudi Aramco, as the kingdom seeks further capital for its sovereign wealth fund.Riyadh is offering 1.545bn shares in the world’s largest oil exporter at between SR26.7 and SR29. The final price will be announced on June 7. Advisers to Aramco have been in Saudi Arabia making the last preparations for a secondary share offering for several days and the final decision on the details is expected to be made…

AXP stock trades near all-time-high prices Stockholders of American Express Company (NYSE:AXP) have been rewarded handsomely recently. As illustrated by the chart below, the stock has enjoyed a price advancement of nearly 50% in the past 12 months alone, far outpacing the S&P 500’s (SP500) ~30% gain (which is already terrific by itself). Looking ahead, there are certainly several reasons to keep the momentum going. The top factor in my mind is its customer base. AXP’s strong performance recently was driven by a combination of positive catalysts: a rise in revenues, increased net interest income, and also higher card member…

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It’s becoming tougher and tougher for Americans to carry on with their spending spree. Years of elevated inflation and the highest interest rates in almost a quarter century are wearing out the US consumer. Savings accumulated during the Covid-19 pandemic are drying up, borrowers continue to rack up debt and delinquencies are marching higher. Retailers say shoppers are fed up with rising prices and are changing their purchasing behavior. Americans power economic growth with their spending, and they’re being buffeted from every direction. US consumers unleashed a tsunami of demand when the economy ascended from pandemic depths. That momentum persisted…

Inflation is taking baby steps towards coming back to where policymakers want it, with a report due Friday expected to show more of that creeping progress.The Commerce Department’s measure of personal consumption expenditures prices is expected to show inflation in April running at a 2.7% annual rate, according to the Dow Jones estimates both for overall inflation and the “core” that excludes food and energy costs.If that forecast holds, it will represent a slight decline on the core measure and little change on the overall rate, though economists will be looking at both the annual and monthly measures. Core inflation…

U.S. consumers and businesses alike have turned cautious on spending this year because of elevated inflation and interest rates, according to Bank of America CEO Brian Moynihan.Whether its households or small- to medium-sized businesses, Bank of America clients are slowing down the rate of purchases made for everything from hard goods to software, Moynihan said Thursday at a financial conference held in New York.Consumer spending via card payments, checks and ATM withdrawals has grown about 3.5% this year to roughly $4 trillion, Moynihan said. That’s a sharp slowdown from the nearly 10% growth rate seen in May 2023, he said.Referring…

Want to watch your money grow?  A high-yield savings account allows your money to make money, with very little work from you. A high-yield savings account offers a higher interest rate on deposits made than a traditional savings account. Shortly after depositing into a high-yield savings account, you’ll see how much additional cash you are making in interest and regret not starting sooner.  SAVE $10K IN A YEAR WITH THIS STEP-BY-STEP GUIDE But it’s not too late. Here’s everything you need to know about high-yield savings accounts and how you can open one today. How does a high-yield savings account work?What bank…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. The interest rate on a 30-year fixed-rate mortgage is 6.875% as of May 21, which is unchanged from yesterday. With mortgage rates changing daily, it’s a good idea to check today’s rate before applying for a loan. It’s also important to compare different lenders’ current interest rates, terms, and fees to…

I recently did a webinar on Medicare basics for over 600 consumers. During the Q&A session, I realized why Medicare is so confusing. The first question I was asked, “When are the seven months I have to enroll in Medicare?” highlights the reason. You would think there should be one enrollment period for everyone, right? There was back when Medicare started. By 1966, one year after Medicare became official, 19 million people had enrolled. (Just a comment about that. Even with all the computers and automation, could you imagine the scene in today’s world if Social Security had to process…