Author: News Room
“Donald Trump was given every opportunity to defend himself,” Biden said. “A state case, not a federal case, was heard by a jury of 12 citizens, 12 Americans, 12 people like you, like millions of Americans who served on juries.””This jury was chosen the same way every jury in America has been chosen,” the president said. “Five weeks after careful deliberation, the jury reached a unanimous verdict.”More news on Donald TrumpBiden noted that Trump will have the chance to appeal his conviction after he is sentenced July 11.But the Democrat said “it’s reckless, it’s dangerous” for Trump to argue that…
In an effort to fix administrative issues that resulted in student loan borrowers not qualifying for forgiveness, the Biden administration announced an extended consolidation deadline for borrowers with certain loans. Student loan borrowers have been dealing with errors that inaccurately counted their student loan payments toward forgiveness programs like income-driven repayment (IDR) and Public Service Loan Forgiveness (PSLF). Within these programs, borrowers can have their remaining debt balances forgiven after they’ve worked in the public service sector for so many years or have paid toward their student loans for a set amount of time, typically 20 to 25 years. The…
Affording a home today requires households to earn good money and have a sizeable down payment saved, according to a recent report. Based on the current interest rate of 7.22% over a 30-year mortgage, buyers today would need to earn an annual income of roughly $120,000, plus a 10% down payment, to afford a home, according to the Clever Real Estate report. However, the average American household earns about $45,000 less than that, and many first-time buyers can’t afford a 10% down payment.Household earnings below $120,000 render the $332,494 price tag of median-priced homes in the current market unaffordable, even if…
It feels like everything costs more these days—and some homeowners are looking for ways to increase cash flow without invading retirement assets. One way to do that? Reverse mortgages. Reverse mortgages are a creature of federal law. As part of the Housing and Community Development Act of 1987, the Federal Housing Administration (FHA) became responsible for insuring reverse mortgages. The program was initially designed to “meet the special needs of elderly homeowners by reducing the effect of the economic hardship caused by the increasing costs of meeting health, housing, and subsistence needs at a time of reduced income.” While not…
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…
