Author: News Room

Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. University presidents have to wear a lot of hats, much like a CEO. There’s the day to day admin, the glad-handing of donors, and, crucially, keeping internal fires from becoming public, violent conflagrations. That last one is a public relations lesson, one on which Columbia’s president might need a refresher. See here: To understand why so many college campuses suddenly have students occupying parts of their campuses, you have to go back to two weeks ago, on April…

Check out the companies making headlines in midday trading: Apple — The tech giant jumped more than 6% after announcing it would repurchase $110 billion in shares . Apple also posted beats on the top and bottom lines, reporting fiscal second-quarter earnings of $1.53 per share on $90.75 billion in revenue. That topped analysts’ estimates for earnings of $1.50 per share on revenue of $90.01 billion, per LSEG. Block — The payment services provider added 1% after posting first-quarter results that beat analysts’ expectations. Block reported adjusted earnings of 85 cents per share on revenue of $5.96 billion, which exceeded…

If you’ve opted into your employer’s Roth 401(k) after-tax matching contributions this year, it could trigger a tax surprise without proper planning, experts say. Enacted in 2022, Secure 2.0 ushered in sweeping changes for retirement savers, including the option for employers to offer 401(k) matches in Roth accounts. These accounts are after-tax, meaning employees pay upfront taxes but growth and withdrawals in retirement are tax-free. Previously Roth 401(k) matches went into pretax accounts.Roughly 12% of employers with 401(k) plans said they are “definitely” adding the feature and 37% are “still considering it,” according to a recent survey from the Plan Sponsor Council…

Homebuyers in the U.S. are turning to riskier adjustable rate mortgages (ARMs) as high interest rates make it less affordable for purchasers locking in new fixed rate mortgages, according to a new report. The Mortgage Bankers Association’s Market Composite Index, which measures loan application volume, found that the share of activity involving ARMs increased to 7.8% of total mortgage applications.”One notable trend is that the ARM share has reached its highest level for the year at 7.8 percent,” Mike Fratantoni, senior vice president and chief economist for the Mortgage Bankers Association (MBA), said in a release. “Prospective homebuyers are looking…

Small businesses are increasingly turning to credit cards as a key source of funding as they continue to grapple with still-high inflation and rising borrowing costs.  New findings published by Bank of America show that small businesses are reacting to inflationary pressures within the economy by relying more on credit cards to finance their operations. Since 2019, small business credit card balances are up 18%, according to aggregated and anonymized data.”While rising credit card balances could raise some concerns, we note a few reasons to be less pessimistic,” the Bank of America analysts said. JAMIE DIMON WARNS INFLATION, INTEREST RATES…

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. During the week of Apr. 22, 2024, average private student loan rates decreased for borrowers with credit scores of 720 or higher who used the Credible marketplace to take out 10-year fixed-rate loans and increased for 5-year variable-rate loans. 10-year fixed rate: 9.19%, down from 10.45% the week before, -1.265-year variable…

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 desire to find a workable solution to the state’s public workforce crisis. And even though there are disparate views on a solution – including reforming retirement, raising salaries, or paying bonuses – the people I’ve talked with are genuinely interested in learning the facts and…

The Internal Revenue Service detailed its plans Thursday to significantly ramp up audit rates of wealthy taxpayers and large corporations, using funds provided by the Democrat-backed Inflation Reduction Act that passed in 2022. The audit rate of taxpayers earning more than $10 million is expected to increase by 50%, going up from 11% in 2019 to 16.5% in 2026. The IRS also plans to triple the audit rates of large corporations with assets over $250 million, as well as increase the audit rates of business partnerships with assets over $10 million by tenfold over the seven-year period. Despite the expected…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Peloton chief executive Barry McCarthy is stepping down from his role as the exercise-bike maker launches a restructuring plan that will cut 15 per cent of its workforce.The former Netflix and Spotify executive succeeded former chief and founder John Foley in 2022. McCarthy, who was lured out of retirement with a pay package initially valued at $168mn, was tasked with turning around the connected-fitness company after it had burnt through cash, leaving it “thinly capitalised” for its size.Peloton’s share price never regained…

Lantheus Holdings, Inc. (NASDAQ:LNTH) Q1 2024 Earnings Conference Call May 2, 2024 8:00 AM ET Company Participants Mark Kinarney – Vice President of Investor RelationsBrian Markison – Chief Executive OfficerPaul Blanchfield – PresidentBob Marshall – Chief Financial Officer Conference Call Participants Anthony Petrone – Mizuho Financial GroupRoanna Ruiz – Leerink Partners LLCRichard Newitter – Truist SecuritiesLarry Solow – CJS SecuritiesYuan Zhi – B. RileyJustin Walsh – Jones TradingAndy Hsieh – William BlairKemp Dolliver – Brookline Capital Markets Operator Good morning. Welcome to the Lantheus First Quarter 2024 Conference Call. All lines have been placed on mute. This call is being…