Author: News Room

Last updated: April 25, 2024 13:30 EDT | 1 min read Andreessen Horowitz CTO Eddy Lazzarin likened meme coins to ‘Risky Casinos’ on April 25, arguing that they deterred genuine builders from the crypto ecosystem due to the high risk involved.Lazzarin posted to X, stating that meme coins hinder the long-term vision of cryptocurrency, which has kept many of the original builders in the space. Interest in memecoins will come and go, and I’m optimistic that real products/protocols will develop in the end. But we shouldn’t pretend that the casino doesn’t set us back. Deterring great founders and giving ammo…

US stocks were lower Thursday afternoon after the latest GDP report showed that US economic growth slowed to 1.6% in the first quarter of the year, a much weaker pace than expected. The Dow fell by 441.1 points, or 1.2%; the S&P 500 was down 0.8% and the Nasdaq Composite slid by 1.1%, as investors projected a longer wait for the first rate cut from the Federal Reserve. “This report was the worst of both worlds: economic growth is slowing and inflationary pressures are persisting,” wrote Chris Zaccarelli, chief investment officer at Independent Advisor Alliance, in a note Thursday morning.…

The slowing growth and stubborn inflation picture emerging in the U.S. economy may not be quite a nightmare scenario for the Federal Reserve, but it at least could make for some restless sleep. First-quarter results released Thursday showed the U.S. economy slugging along at a 1.6% annualized pace, the slowest in almost two years, and inflation running nearly double where it was in the previous quarter and at the highest level in a year. Both of the data points put together spell at least a mild stagflationary environment that will make policymaking troublesome in the weeks and months ahead. “It…

On average, Americans believe they should save up around $1.46 million before retiring, per Northwestern Mutual’s 2024 Planning and Progress study.But in certain states, like Hawaii, you’d actually need more than that. The minimum amount of savings you’d need to retire in the Aloha state is $2,051,077, according to a GOBankingRates study.The personal finance site calculates that this amount, plus Social Security benefits, would be enough to cover costs for necessities like groceries, housing, utilities, car expenses, discretionary spending and savings over a 25-year retirement.To determine the minimum retirement savings requirements in each state, GOBankingRates examined how much Americans 65…

Millions of older Americans at risk of defaulting on student loan payments may lose some of their Social Security benefits, Democratic lawmakers said in a letter urging President Joe Biden’s administration to act. Sens. Elizabeth Warren, D-Mass., and Ron Wyden, D-Ore., were among several lawmakers who wrote to President Joe Biden about the risk student loan borrowers aged 65 or older faced when they defaulted on payments. Roughly 3.5 million Americans 60 and older hold over $125 billion in student loans, according to a 2023 report by the think tank New America that lawmakers cited. Nearly 40% of borrowers aged 65 and older…

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 7.125% as of April 5, which is unchanged from yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.000%, which is 0.125 percentage points lower than yesterday. With mortgage rates changing daily, it’s a good idea to check today’s rate…

The Secure Act has eliminated the stretch IRA for most people who are inheriting an IRA or 401(k). Now, beneficiaries who inherit an IRA will need to follow the 10-year rule, which can significantly increase the income taxes due on your inheritance, not to mention the new onerous rule of when and how much you must take each year in Required Minimum Distributions. The New Inherited IRA Required Minimum Distribution Rules The good news is that stretch IRAs are still available for spousal beneficiaries. However, for most non-spouse beneficiaries (think children, friends), the stretch IRA option has been replaced with…

Rebel Teahouse is Christine Nguyen’s business. And her happy place. Nguyen, 29, was a neuro ICU nurse, often treating patients who suffered a stroke or had brain cancer. Stressful enough, and then Covid-19 hit. “We were right there – frontline,” Nguyen told us in an interview. “There were all these battles about whether or not we should be vaccinated. … Seeing all the death didn’t help either.” So Nguyen left her nursing job and became an entrepreneur, opening a boba tea shop in a place that, like her, is in the middle of giant change. “Two or three years ago,…

Stay informed with free updatesSimply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox.The US secretly sent a long-range missile system to Ukraine in February, reversing a decision to withhold the weapons that some in the White House feared could dangerously escalate the war with Russia.President Joe Biden’s decision to reverse course was influenced in part by Russia’s increased attacks on Ukraine’s civilian infrastructure in recent months, as well as the Kremlin’s use of North Korean ballistic missiles, according to two US officials.The officials said the Army Tactical Missile System, or Atacms, arrived in…

Ribbon Communications Inc. (NASDAQ:RBBN) Q1 2024 Earnings Conference Call April 24, 2024 8:30 AM ET Company Participants Joni Roberts – Senior Vice President & Chief Marketing OfficerBruce McClelland – President, Chief Executive Officer & DirectorMiguel Lopez – Executive Vice President & Chief Financial Officer Conference Call Participants Christian Schwab – Craig-HallumDave Kang – B. Riley SecuritiesTrevor Walsh – JMP SecuritiesTim Savageaux – Northland Capital Markets Operator Hello and welcome to the Ribbon Communications First Quarter 2024 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to turn the call over…