Author: News Room

Elevated interest rates and pricier listings have made it even harder to afford a new home. But there is an often-overlooked expense when buying a home: closing costs. These costs, which are the fees owed on the day you finalize the purchase of a home, have risen in recent years. In 2022, the median cost of a loan paid by homebuyers — including origination fees, appraisal and credit report fees, title insurance, discount points and other fees — was $6,000, a nearly 22% increase from 2021, according to a report from the Consumer Financial Protection Bureau. But the calculation for…

Berkshire Hathaway reported Saturday its first-quarter 2024 figures, revealing that most of the conglomerate’s stock portfolio is focused on just five stocks. The Warren Buffett-led behemoth kept the makeup of its top five holdings unchanged in the first three months of 2024, as the stock market ripped to record levels to mark the start of a new bull run. However, Berkshire did trim its Apple investment by 13% during the first quarter, marking the second straight period in which the company lowered its stake in the iPhone maker. At the end of the January-March period, Berkshire owned $135.4 billion in…

Warren Buffett isn’t jumping on the artificial intelligence bandwagon just yet, warning about the technology’s potential for harm.”When you think about the potential for scamming people … if I was interested in investing in scamming, it’s gonna be the growth industry of all time and it’s enabled, in a way” by AI, Buffett said at Berkshire Hathaway’s annual shareholder meeting on Saturday. Buffett pointed to the technology’s ability to reproduce realistic and misleading content in an effort to send money to bad actors.Scammers are known to use AI voice-cloning and deep-fake technology to manipulate videos and images that impersonate an…

The Biden administration is continuing its mass student loan handouts as it announced another $6 billion that it would be giving to borrowers ahead of the 2024 election. “Today, my Administration is approving $6.1 billion in student debt cancellation for 317,000 borrowers who attended the Art Institutes,” President Biden said Wednesday.In the statement, the president and Education Secretary Miguel Cardona described the Art Institutes as “predatory” and said the new handouts would help students who were victims of their actions. “This institution falsified data, knowingly misled students, and cheated borrowers into taking on mountains of debt without leading to promising…

The U.S. added 175,000 jobs in April, according to the Bureau of Labor Statistics Employment Situation report. That’s a small jump compared to the average monthly increase of 242,000 that occurred over the last 12 months. In April, the unemployment rate sat at 3.9%, up slightly from 3.8% in March, putting the total number of unemployed individuals at 6.5 million. Those who qualify as long-term unemployed — individuals without a job for 27 weeks or more — hovered at 1.3 million, practically unchanged from last month.Of the industries faced with job losses, the mining, quarrying and oil and gas extraction…

When Older Americans Month (May) was established in 1963, only 17 million Americans had celebrated their 65th birthday. Today over 60 million of us can claim the distinction of being 65 or better. However, over 22 million older adults live alone and close to 30% of them have no children or other family support as they age. This is a category best known as “Solo Agers.” Starting this year (2024), on May 15, Solo Agers will have their very own day, right in the middle of Older American’s month. SAVvy Day (Solo Agers Visibility Day) will acknowledge their status, raise…

Joe Biden’s Democratic base has been divided over the Israel-Hamas war. The public, at large, gives the president some of his worst approval ratings over his handling of the conflict. To some, including people within Biden’s own party, the public demonstrations against the war in Gaza remind them of the Vietnam War protests. To others, it’s a reminder of what they saw in the 1980s with the anti-apartheid movement against South Africa’s White-led government. But of all the problems Biden has to deal with as he seeks reelection, the war in the Middle East and the related divisions at home are not even close to being the…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Rishi Sunak’s Conservatives have suffered heavy defeats in elections across England and Wales, leaving the prime minister struggling to avert a general election rout but safe in office for now.The results confirmed Tory MPs’ fears and the UK prime minister described the loss of Conservative councillors as “disappointing”, with Labour gaining seats in electoral battlegrounds across the country.In the last big test of public opinion ahead of the general election expected this year, and with most of the council results declared, the…

IGM Financial Inc. (OTCPK:IGIFF) Q1 2024 Earnings Conference Call May 3, 2024 8:00 AM ET Company Participants Kyle Martens – Treasurer and Head of Investor RelationsJames O’Sullivan – President and Chief Executive OfficerDamon Murchison – President and Chief Executive Officer of IG Wealth ManagementLuke Gould – President and Chief Executive Officer of Mackenzie InvestmentsKeith Potter – Executive Vice President and Chief Financial Officer Conference Call Participants Geoffrey Kwan – RBC Capital MarketsNick Priebe – CIBC Capital MarketsJack Cohen – National Bank Financial Operator Thank you for standing by. This is the conference operator. Welcome to the IGM Financial First Quarter…

Last updated: May 3, 2024 14:00 EDT | 3 min read Bitcoin Price Bursts Back Above $60,000 as US NFP Data Misses Expectations – Here’s Where BTC Is Headed Next / Source: Cryptonews The Bitcoin (BTC) price has powered back into the mid-$61,000s in wake of a softer-than-expected US labor market report which has boosted hopes that the Fed cuts interest rates more than once before the end of 2024. ❖ US Labor Apr Nonfarm Payrolls +175K; Consensus +240K ❖ US Apr Unemployment Rate 3.9%; Consensus 3.8% ❖ US Apr Average Hourly Earnings +0.20%, or +$0.07 to $34.75; Over Year…