Author: News Room

Despite President Biden’s request to reinstate the SAVE plan the administration created to help student loan borrowers pay less in monthly payments, the Supreme Court declined to do so on Wednesday. Lower courts blocked the plan earlier in the summer after legal challenges were brought up by GOP-led states. The decision by the court had no immediate effect on the millions of borrowers enrolled in the plan but blocks new applications. When the initial block came, borrowers who were part of the plan were automatically placed into an interest-free forbearance. During this forbearance, borrowers aren’t required to make monthly payments.The…

Mortgage rates decreased a bit this week, remaining uncomfortably high for many would-be buyers but hitting their lowest point in months. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage fell to 6.73% this week from 6.78% last week. The average rate on a 30-year loan was 6.90% a year ago.”Mortgage rates declined to their lowest level since early February,” said Sam Khater, Freddie Mac’s chief economist. “Expectations of a Fed rate cut coupled with signs of cooling inflation bode well for the market, but apprehension in consumer confidence may…

“I don’t want to be a burden on my children when I’m old.” This statement is one I consistently hear expressed by older people from all walks of life. While it’s natural and noble to be worried about how you might disrupt your children’s lives as you age, “worrying” isn’t a strategy! Instead, use any worries you might feel as motivation to take steps now to plan for the time you’ll likely be frail. I say “likely” because unfortunately, it’s not really a matter of if you’ll become frail; most retirees will experience some degree of physical or mental decline…

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Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Vanguard supported none of the 400 environmental or social shareholder proposals that it considered in the 2024 US proxy season, saying they were “overly prescriptive”, unnecessary or did not relate to material financial risks.The $9.3tn money manager’s support for these kinds of proposals at company annual meetings has been falling sharply for three years, after peaking at more than 46 per cent support in 2021. Last year it voted in favour of 2 per cent of such proposals.Vanguard said in its US…

What Happened Since the IT Outrage CrowdStrike Holdings, Inc. (NASDAQ:CRWD) beat on both revenue and non-GAAP EPS estimates in Q2 FY2025, but forecasted a disappointing outlook. Although the company managed the crisis effectively, CRWD’s top priority is now to strengthen customer engagement. I believe some customers may hesitate to renew the Platform products in the near term, leading to a lower net revenue retention rate and impacting top-line growth. To preserve goodwill, CRWD has made concessions, such as offering discounts to certain customers, which could result in a significant slowdown in ARR growth in coming quarters. Following the outage, I…

ABC News intends to mute the microphones of Donald Trump and Kamala Harris while their opponent speaks during an upcoming presidential debate, according to a copy of the formal rules obtained by CNN, but the Harris campaign is continuing to push back on the final sticking point. “Candidate microphones will be live only for the candidate whose turn it is to speak, and muted when time belongs to another candidate,” ABC stated in the debate rules sent to the campaigns on Tuesday. While the Trump campaign has accepted the rules governing the Sep. 10 matchup, Harris’ campaign said it remains in…

Democratic presidential nominee Kamala Harris on Thursday vowed to pick a Republican to serve in her Cabinet if she defeats former President Donald Trump in the Nov. 5 election.”I have spent my career inviting diversity of opinion,” the vice president said in an interview with CNN anchor Dana Bash.”I think it’s important to have people at the table when some of the most important decisions are being made that have different views, different experiences,” Harris said. “And I think it would be to the benefit of the American public to have a member of my Cabinet who was a Republican.”Harris,…

Check out the companies making headlines in after-hours trading. Ulta Beauty — The beauty products retailer saw its shares fall nearly 7% after missing top and bottom line expectations in the second quarter . Ulta’s earnings came out at $5.30 per share, while analysts polled by LSEG expected $5.46 per share. Revenue was of $2.55 billion, also falling short of analysts’ forecast of $2.61 billion. The company also trimmed its full-year outlook . MongoDB – Shares of the database company rose nearly 13%. MongoDB issued strong fiscal third-quarter guidance, forecasting adjusted earnings of 65 cents to 68 cents per share…

The housing affordability crisis is hitting swing states hard. These battleground states, which could potentially be won by either candidate, are especially focused on the issue of affordability in the upcoming election. About nine in 10 adult Gen Zers reported housing affordability is important when deciding who to vote for, Realtor.com found. Housing payments in swing states have nearly doubled since the last election, rising by 92% to $2,161, on average. Rising home prices and mortgage rates have largely contributed to this jump in ownership costs. The average sales price in swing states increased by about 40% since 2020, and…