Author: News Room

Apple’s smartphone sales tumbled 10% last quarter, according to market research firm IDC, as sales in China fell sharply. The company has lost momentum in China as nationalism, a rough economy and increased competition have hurt Apple over the past several months. “It’s a steep drop for Apple, but if you think of where we have been in the past four years, Apple has probably been the most resilient brand, overcoming supply chain issues and macro challenges, more than other brands,” said Nabila Popal, research director at IDC, told CNN. Samsung had been the top smartphone manufacturer for the past…

Check out the companies making headlines in midday trading. Tesla — Shares fell 2.8% after an internal memo said the electric vehicle maker is planning to lay off more than 10% of its global workforce . “As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity,” CEO Elon Musk said in the memo. Tesla had almost 141,000 employees as of December 2023. Goldman Sachs — Shares climbed 3.4% after the investment bank beat Wall Street’s first-quarter earnings expectations , reporting a 28%…

Tesla executives Drew Baglino and Rohan Patel announced Monday they are leaving the electric vehicle maker and clean energy company. CEO Elon Musk thanked both departing execs on X, the social network he owns and runs as chief technology officer.The news comes after Tesla said it is laying off more than 10% of its workforce.Baglino had worked with Tesla since its early years, starting as a firmware and electrical engineer in 2006. He most recently reported directly to Musk as the company’s senior vice president for powertrain and energy engineering.Patel joined Tesla in 2016 after working as a senior advisor…

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. Borrowers with good credit seeking personal loans during the past seven days prequalified for rates that were higher for 3-year loans and lower for 5-year loans when compared to fixed-rate loans for the seven days before. For borrowers with credit scores of 720 or higher who used the Credible marketplace to…

Chase announced Wednesday it has launched a new media business that allows advertisers to target the bank’s 80 million U.S. customers based on their purchases. The platform, Chase Media Solutions, allows brands to “connect with consumers’ personal passions and interests,” while “customers benefit from personalized offers and the ability to earn cash back with brands they love or are discovering for the first time,” the bank said in a press release. According to The Wall Street Journal, which first reported the news, Chase will only charge merchants for the service whenever a customer makes a purchase through a deal on…

The Biden administration is reportedly preparing to take a second crack at broad student loan forgiveness for millions of Americans after the Supreme Court struck down its first attempt. Citing people familiar, The Wall Street Journal reported Friday that the administration will roll out proposed regulations offering sweeping bailouts as early as next week, and “the president’s advisers hope to use the rules to begin canceling waves of student debt in the run-up to the November election.” The White House did not immediately respond to FOX Business’ request for comment on the report.President Biden’s initial student loan handout plan, which…

First-time homebuyers are likely to face more industry headwinds as mortgage rates and homeownership costs skyrocket in today’s economy. Mitch Roschelle, managing director at Madison Ventures+, said “it couldn’t be a worse time of year” as mortgage rates hit their highest level since November. “The timing is awful,” Roschelle stressed during his appearance on “Varney & Co.” Thursday. “There is a little bit of supply on the market. So, I really feel for those first-time buyers who are hitting the streets right now looking for homes.”While the average 30-year-fixed rate mortgage sits at 7.375%, Roschelle predicts that rates will “likely” increase.…

As yields have risen from their historic lows, many retirees ask me if they should put all their savings in T-bills. This movement even has a name: T-bill and Chill. Moving to the safety of U.S. government short-term bonds has an initial appeal for retirees. T-bills are one of the safest Investments in the world. Today, they pay more than a 5% yield, which exceeds the traditional 4% rule for retirement spending. As safe as T-bills may seem, however, removing stocks from a retirement portfolio carries significant risks. Retirees Are Long-Term Investors Retirement is a marathon, not a sprint. Even…

BUENOS AIRES (Reuters) -Argentina’s Senate on Thursday voted to reject President Javier Milei’s sprawling “mega decree” of economic reforms, a major blow to the libertarian leader’s austerity agenda as he tries to remedy the country’s ailing economy. Milei, an outsider economist whose party has a minority in Congress, took office in December and used his powers of presidential decree to roll out measures ranging from privatizations to labor reforms. The decree, which originally contained over 600 articles, was rejected in a vote of 42-25, with four abstentions, and can only be definitively discarded if it is also rejected by Argentina’s…

Clapper on Iran attack: ‘A Rubicon has been crossed’ Former Obama Director of National Intelligence James Clapper tells CNN’s Jake Tapper that Iran’s attack on Israel is a “very profound event” but believes Iran doesn’t actually want a wider war in the region. Read the full article here