Author: News Room

ISM Services: Activity in the US services sector is expected to have expanded again in March, ticking up to a reading of 52.7 from 52.6 in February, according to economists polled by Reuters.US private payrolls: Payroll processor ADP will release its US employment report for March, offering insight into the labour market before official government figures on Friday. Private employers are expected to have added 148,000 jobs in March, compared with the 140,000 added in February.Earnings: Denim retailer Levi Strauss is expected to report that first quarter revenue declined from a year earlier as consumers continue to cut back on…

Over the past few years now, the journey embarked upon by shareholders of industrial conglomerate General Electric has been fascinating. It has been a bumpy ride and many market watchers and investors believed that the long-term picture for the company was negative. I was one of the few analysts to believe that shareholders would be rewarded rather handsomely by keeping hold of their shares for a good portion of the time. I was ultimately rewarded when General Electric spun off its healthcare operations into GE HealthCare Technologies (GEHC). Between the run-up scene and the share price of the conglomerate leading…

Disney won a hard-fought proxy battle against a group of activist investors who sought to secure seats on the company’s board of directors. The shareholder vote served as a legacy-defining victory for CEO Bob Iger. Disney’s board triumphed by what the company called “a substantial margin” over the nominees put forward by Trian Fund Management and Blackwells Capital at its annual shareholder meeting. “With the distracting proxy contest now behind us, we’re eager to focus 100% of our attention on our most important priorities: growth and value creation for our shareholders and creative excellence for our consumers,” Iger said in a statement.…

Federal Reserve Chairman Jerome Powell said Wednesday it will take a while for policymakers to evaluate the current state of inflation, keeping the timing of potential interest rate cuts uncertain.Speaking specifically about stronger-than-expected price pressures to start the year, the central bank leader said he and his fellow officials are in no rush to ease monetary policy.Watch Fed Chair Powell speak live at Stanford policy conference economic forum”On inflation, it is too soon to say whether the recent readings represent more than just a bump,” Powell said in remarks ahead of a question-and-answer session at Stanford University.”We do not expect…

Check out the companies making headlines in midday trading. Intel – The tech giant sank 7% after the revealing a $7 billion operating loss within its semiconductor manufacturing — or foundry – business in 2023. Spotify Technology – The music-streaming company popped more than 5%. Bloomberg reported that Spotify is upping prices for its premium subscription service within several markets, including the U.S. The hikes would mark the second time the company has raised prices in a year. Ulta Beauty – Shares of the beauty retailer tanked more than 13%. Ulta warned at a conference that category growth is slowing…

Navigating the shift from employment to self-employment requires careful planning, dedication and a willingness to embrace the entrepreneurial spirit.  By strategically approaching this transition, individuals can unlock the doors to a fulfilling and successful self-employed career.Assess your skillsDevelop a business ideaCreate a business planBuild savingsUnderstand legalitiesDevelop an online presenceStart networkingManage your finances wiselyStay resilient SMALL BUSINESS AND SELF-EMPLOYED TAXES: EVERYTHING YOU NEED TO KNOW1. Assess your skills Before venturing into self-employment, take time for self-analysis. Assessing your skills, strengths and expertise will help you adjust to entrepreneurship seamlessly. Factor in your passions, as working in harmony with your interests fuels…

There’s hope on the horizon for many different financial markets in 2024, but employee raises aren’t looking too promising, a WTW study reports. Employers in the U.S. are planning an average wage increase of 4% in 2024. This is down 0.4% from 2023 when the average increase was 4.4%. This shouldn’t be disheartening to employees, however, since 4% is a good bit higher than the average salary increase of 3.1% back in 2021, the report cites.”We are seeing healthy salary increases forecasted for 2024,” said Hatti Johannsson, research director of Reward, Data and Intelligence at WTW. “Though economic uncertainty looms,…

Retail and food service purchases hit an estimated $700.3 billion in January 2024, a 0.6% rise from the year before, Census Bureau data shows. Growing purchases, paired with other debt, has helped increase household debt. In Q4 2023, total U.S. household debt increased to $17.5 trillion in Q4 2023, a report released by the Federal Reserve of New York said.This spending may add to consumer debt but can help the economy overall. Consumer spending accounts for a large portion of the country’s Gross Domestic Product (GDP). When consumers are spending more, this typically means the economy is growing. “The economy…

The Biden-Harris administration recently released another proposal to help borrowers handle high-cost student loans. This round of student debt relief is designed to help students facing serious financial hardship. The proposal would provide automatic relief to borrowers deemed likely to default on their loans in the next two years.”College is meant to lead to a better life, but too many students end up struggling due to their student debt,” Under Secretary James Kvaal said. “The ideas we are outlining today will allow us to help struggling borrowers who are experiencing hardships in their lives, and they are part of President…

Mortgage rates fell for the second week in a row, but economists are not expecting any significant declines in the near future. Freddie Mac’s latest Primary Mortgage Market Survey released Thursday showed that the average rate on the benchmark 30-year fixed mortgage dropped to 6.74% this week from 6.88% last week. The average rate on a 30-year loan was 6.60% a year ago. The average rate on the 15-year fixed mortgage also fell to 6.16% after coming in last week at 6.22%. One year ago, the rate on the 15-year fixed note averaged 5.90%.WHAT $1M WILL FETCH YOU IN THE…