Author: News Room

The US and the UK on Wednesday announced a fresh package of sanctions against several “financial fixers” who have assisted Russian oligarchs, including Alisher Usmanov, the metals executive, in their attempts to hide their assets.The latest sanctions come as western allies are broadening the net of individuals and companies around the world — including outside of Russia — who are helping Moscow evade sanctions, prop up its economy and fund its war in Ukraine. The US Treasury department said Usmanov had “a wide network of businesses in financial safe havens and family members through which to conduct financial transactions, enabling…

Watch full video on YouTube

Watch full video on YouTube

Tether, the company behind the world’s largest stablecoin, has blacklisted a validator address responsible for draining $25 million from Maximal Extractable Value (MEV) bots. The validator exploited a bug in the MEV-boost relay to bypass MEV bots by attempting to execute a sandwich trade, which processes an order immediately before another trade and then right after it. Essentially, this process simultaneously front-runs and back-runs an originating transaction, on the condition that its verification status is still pending.The validator, in this case, back-run the MEV’s transaction, leading to losses of nearly $25 million in various digital assets, making it the largest MEV exploit…

Walmart plans to close half its stores in Chicago, a reversal of the retail giant’s high-profile commitment in 2020 to expand in the city as part of its corporate racial justice initiative in the wake of George Floyd’s murder by police. Walmart announced Tuesday that next week it will close four poor-performing stores out of the eight it operates in Chicago. The locations are in Chicago’s South and West Side neighborhoods, which are predominantly minority and have long struggled with grocery and retail access. The announcement comes after Walmart highlighted its efforts in Chicago as a “critical part” of its…

Inflation showed welcome signs of cooling in March as the cost of gasoline declined, but core prices pointed to strong underlying price pressures that are still bubbling beneath the surface. The Labor Department said Wednesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.1% in March from the previous month, down from 0.4% in February. Prices climbed 5% on an annual basis, down sharply from February’s 6% increase and the smallest rise in nearly two years.Those figures were both lower than forecasts by Refinitiv economists.  Still, inflation remains…

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. Based on data compiled by Credible, mortgage rates for home purchases remained unchanged across all key terms since yesterday. Rates last updated on April 12, 2023. These rates are based on the assumptions shown here. Actual rates may vary. Credible, a personal finance marketplace, has 5,000 Trustpilot reviews with an average…

The deadline for millions of Americans to file their tax return is April 18. And for the country’s 40 million student loan borrowers, navigating repayment, student loan forgiveness, and taxes is more confusing than ever. But for many people, there are strategies that can reduce your student loan repayment obligation, your tax burden, or both. Here’s an overview. Reduce Adjusted Gross Income To Lower Student Loan Payments And Tax Bill Millions of federal student loan borrowers rely on income-driven repayment plans. IDR plans use a formula based on a borrower’s family size and income — typically, their Adjusted Gross Income…

Recap from February’s Picks On a price return basis, the Dividend Growth Stocks Model Portfolio (-4.7%) underperformed the S&P 500 (+0.1%) by 4.8% from February 28, 2023 through March 27, 2023. On a total return basis, the Model Portfolio (-4.5%) underperformed the S&P 500 (+0.4%) by 4.9% over the same time. The best performing stock was up 5%. Overall, nine out of 30 Dividend Growth stocks outperformed their respective benchmarks (S&P 500 and Russell 2000) from February 28, 2023 through March 27, 2023. The methodology for this model portfolio mimics an “All Cap Blend” style with a focus on dividend…

Key takeaways Headline inflation dropped to 5% in March, down from 6% in February and the 9.1% high of June 2022 Core CPI accelerated slightly to 5.6%, which was bang on target with what analysts predicted When considering jobs, unemployment and PCE data, the Fed’s aggressive rate increases seem to be paying off The big economic news of today is that headline inflation has dropped to 5%, the lowest figure since 2021, which has pushed up the stock market and driven Treasury yields down. When considered against jobs, unemployment and PCE data, the overall picture looks brighter than it has…