Author: News Room
President Joe Biden’s Saving on a Valuable Education (SAVE) plan has lowered student loan payments for 153,000 borrowers. In July, the plan is set to drop payments even more for nearly every borrower enrolled. The plan uses a borrower’s income to determine payment amounts. Until July, the formula considers 10% of a borrower’s discretionary income when calculating these monthly payments. Starting on July 1, the repayment formula will start basing payments on 5% of borrowers’ income instead, lowering the payment of every person enrolled in the SAVE plan. This drop to 5% only applies to those paying down undergraduate student loans.…
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 7.375% as of April 11, which is 0.250 percentage points higher than yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.500%, which is 0.375 percentage points higher than yesterday. With mortgage rates changing daily, it’s a good idea to…
By Richard Eisenberg, Next Avenue Although the Conference Board Index says consumer confidence in the U.S. is markedly higher than it was in 2020, money struggles are serious for many households with incomes less than $75,000, The Financial Well-Being 2024 survey of 5,000 U.S. adults from Assurance IQ has found. Financial concerns are especially weighty for Americans ages 50 and older with incomes less than $75,000 (roughly the U.S. median household income), according to internal survey data that Assurance IQ, a Prudential Financial PRU subsidiary, provided to Next Avenue. Nearly half (45%) are worried their family wouldn’t be able to…
(Reuters) – Foreign investors significantly increased their purchases of Japanese bonds last week amid growing expectation that Japan may soon end its long-standing negative interest rate policy and start increasing rates this year. They acquired a massive 1.15 trillion yen (about $7.8 billion) of long-term Japanese bonds on a net basis last week, the largest weekly net purchase since early-April 2023, data from the Ministry of Finance showed. Japanese short-term debt securities drew a net 2.22 trillion yen in overseas capital last week after about 2.75 trillion yen of net purchases in the prior week. The Bank of Japan will…
The Supreme Court’s conservative majority indicated Tuesday that it may toss out a charge prosecutors have lodged against hundreds of people who took part in the January 6, 2021, riot on the US Capitol, a decision that could force the Justice Department to reopen some of those cases. During over 90 minutes of arguments, most justices signaled concern with how the Justice Department is using the law enacted by Congress more than two decades ago in response to the Enron accounting scandal. Critics claimed the felony charge, which carries a prison sentence of up to 20 years, was intended to…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.LVMH reported its weakest quarterly sales growth since the pandemic recovery supercharged luxury revenues at the start of 2021, as Chinese demand subsided and champagne sales fell. The world’s largest luxury group said that like-for-like sales in Asia excluding Japan — which is dominated by the Chinese market — declined by 6 per cent in the first three months of the year. Revenues in the US and Europe grew 2 per cent, while sales in Japan increased 32 per cent, buoyed by the…
In 1973, the price of crude oil rose from below $3.00 per barrel to almost $12 per barrel. This quadrupling (+300%) of the crude oil price occurred as a result of the “Arab Oil Embargo.” We believe that events in 2024 could potentially produce an oil price shock of equal or even greater magnitude. In this article, I will describe how that could occur and why. Context: The 1973-1974 Arab Oil Embargo The word “embargo” somewhat exaggerates what actually happened in 1973-1974. What many people do not know is that during the Arab Oil Embargo, total global oil supplies were…
Last updated: April 16, 2024 12:08 EDT | 2 min read As Ethereum’s price surges past $3,000 and BNB shows robust growth indicators, investors are closely watching these developments. Meanwhile, BlockDAG captures attention with its imminent presale, priced attractively at $0.006 in its upcoming Batch 10. This marks a significant milestone following a 500% growth since its inception. These insights offer a glimpse into why BlockDAG stands out as one of the best cryptocurrencies to buy in 2024, promising a blend of innovation and 30000x ROI potential for savvy investors. Ethereum’s Market Position and Recovery EffortsEthereum, a longstanding leader in the…
Microsoft will invest $1.5 billion in Abu Dhabi’s G42, an artificial intelligence group that has faced questions over its ties to China. The companies will collaborate on AI and digital infrastructure, in a move that sees Microsoft’s AI empire expand into the Middle East for the first time. The move could attract sizeable scrutiny from regulators. G42 — led by Peng Xiao, a Chinese businessman and former CEO of Pegasus, a cybersecurity firm — has reportedly faced questions over its links to Beijing. In November, the New York Times reported that US officials were concerned G42 could be used to…
[The stream is slated to start at 1:15 p.m. ET. Please refresh the page if you do not see a player above at that time.]Federal Reserve Chair Jerome Powell speaks Wednesday to the Wilson Center’s Washington Forum on the Canadian Economy, in what will likely be his last policy speech before the next central bank meeting.Joining Powell is Bank of Canada Governor Tiff Macklem, and together they are expected to discuss “the economic outlook, monetary policymaking in their respective countries, and the enduring value of the Canada-US economic relationship,” according to a release on the Wilson Center site.The appearance comes…
