Author: News Room
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…
Robert F. Kennedy Jr.’s campaign filed a complaint with the Federal Election Commission on Tuesday alleging President Joe Biden’s campaign, former President Donald Trump’s campaign and CNN violated federal campaign laws in scheduling the network’s June 27 presidential debate. The complaint alleges CNN “colluded” with the Biden and Trump campaigns in scheduling the debate and setting debate qualification criteria, which the Kennedy team claims amounts to “prohibited corporate contributions” to both campaigns. The Biden campaign and the Trump campaign did not immediately respond to requests for comment. The Kennedy campaign asks the FEC to bar the campaigns and CNN from holding the…
Stay informed with free updatesSimply sign up to the Media myFT Digest — delivered directly to your inbox.Sony Music has created a new financial vehicle titled “Rock Bidco” as the record company bids for the music catalogue of British rock band Queen, which is expected to fetch a billion-dollar sum. “Rock Bidco” was incorporated on May 17 and is controlled by Tim Major, the co-leader of Sony Music Publishing, according to a filing with the UK Companies House.Queen has been shopping its music catalogue around for more than a year and has held talks with Sony Music and its rival Universal Music, according to people…
The tech sector has resumed its run higher after taking a breather earlier in the year. MoneyTalk’s Greg Bonnell discusses the outlook for the sector and the broader markets with Benjamin Gossack, Managing Director & Portfolio Manager, TD Asset Management. Transcript Greg Bonnell – While the big technology stocks grab all the headlines and are considered by many to be market leaders, they were actually underperforming there for a while. But our feature guest today says big tech is back. Joining us now to discuss that and some of the other trends he’s watching, Ben Gossack, managing director and portfolio…
Last updated: May 29, 2024 14:56 EDT | 2 min read Iggy Azalea’s MOTHER token is facing claims of insider activity following the debut of alleged scammer Sahil Arora’s IGGY cryptocurrency, DeFi supply auditing company Bubblemaps revealed on May 29.According to Bubblemaps, insiders reportedly bought 20% of MOTHER’s supply before its launch on Wednesday, ultimately dumping $2 million worth of the token.Iggy Azalea’s MOTHER Token Accused Of Insider ActivityOne wallet labeled as JEEt3D1 allegedly purchased 109T, an estimated 10% of the coin’s supply. Bubblemaps claims JEEt3d1 has since been split into seven different wallets and has sold 89T of MOTHER.…
Rest easy, America: Subway’s footlong cookie is back. Following a four-month long disappearance, Subway announced Wednesday the “triumphant return” of the oversized chocolate chip cookie, which was pulled from many restaurants less than two weeks after its January debut because of massive demand. The giant cookie was part of Subway’s new Sidekick lineup, a key part to Subway’s turnaround plans, which also includes a number of other changes to its menus as part of its efforts to keep up with rivals. The lineup also consists of a Cinnabon churro and a soft pretzel from Auntie Anne’s, both of which remained…
Growing up on a dairy farm in Osseo, Wisconsin, Diane Hendricks always pictured her future self wearing suits, driving nice cars and working in a city.Today, the 77-year-old has an estimated net worth of $20.9 billion — nearly double her reported net worth from just two years ago — topping Forbes’ most recent list of America’s Richest Self-Made Women for the seventh year in a row.Her fortune is largely from her roofing supplies ABC Supply. Hendricks built the Beloit, Wisconsin-based company with her late husband in 1982, and is currently its chairwoman. She owns 100% of the company, the company’s…
