Author: News Room

Mortgage rates are still uncomfortably high for many would-be homebuyers and sellers, but recent declines have contributed to a significant boost in demand for refinancing. The Mortgage Bankers Association (MBA) reported Wednesday that refinancing applications soared 35% last week, when rates for the average 30-year and 15-year fixed-rate mortgages hit their lowest point in more than a year, according to Freddie Mac.  The surge in refinancing demand was the driving force behind the increase in overall demand for mortgage applications, which was up 15% on the week, the MBA said. For comparison, purchase applications only increased by 3%.Year-over-year, refinancing demand…

Young adults in the U.S. have been skeptical about Social Security at least since the days when I was one of them. Today’s younger generations are no different, and that’s affecting their retirement planning. About 47% of non-retirees believe Social Security won’t pay them any retirement benefits, according to a 2023 Gallup survey reported in The Wall Street Journal. That number’s been consistent for the 30 or so years that Gallup’s asked the question. Pessimism is highest among those ages 30 to 49, the prime earning and saving years. There are good reasons to believe Social Security might not pay…

Minnesota Gov. Tim Walz said Wednesday that he has agreed to participate in a vice presidential debate on CBS News on October 1. CBS News posted to social media Wednesday its invitation to Walz and Republican vice presidential nominee JD Vance, offering the candidates two dates in September and two dates in October as options for a debate in New York City. Walz responded to the invitation on social media, writing, “See you on October 1, JD.” A Kamala Harris campaign official confirmed Walz’s acceptance: “Harris for President has accepted CBS’ invitation to a Vice Presidential Candidate Debate on October 1. Governor…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Delaware’s top court has approved $267mn in fees for lawyers representing shareholders who secured $1bn in a lawsuit over an acquisition involving Dell Technologies, rejecting claims that the award was excessive. The ruling on Wednesday had been highly anticipated by legal observers looking to see how corporate law in Delaware, where most large US companies are domiciled, would treat blockbuster fees awarded in cases involving allegations of significant wrongdoing in corporate governance. It also comes as another court in Delaware weighs a potential…

Vuzix Corporation (NASDAQ:VUZI) Q2 2024 Earnings Conference Call August 14, 2024 4:30 PM ET Company Participants Ed McGregor – Director, Investor RelationsPaul Travers – Chief Executive OfficerGrant Russell – Chief Financial Officer Conference Call Participants Matt VanVliet – BTIGTyler Burmeister – Craig-Hallum Capital Group Operator Greetings, and welcome to the Vuzix Second Quarter for the Period Ending June 30, 2024 Financial Results and Business Update Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this call is being recorded. And now, I would…

If you’re a Shake Shack customer in Los Angeles, your next burger could come on a little robot with wheels. The fast casual burger chain and Serve Robotics announced a partnership Wednesday to deliver meals through autonomous delivery robots via the Uber Eats app. The robot, which is shaped like a shopping cart and has four wheels, will travel on sidewalks. Serve Robotics was founded as the robotics division of Postmates before Uber acquired that company and spun off Serve in 2021. The company went public in April 2024, and today counts Nvidia and 7-Eleven among its investors. Shares of…

Cisco shares popped in extended trading on Wednesday after the networking company said it’s cutting 7% of its global workforce and reported quarterly results that topped analysts’ estimates.Here are the key numbers:Earnings: 87 cents per share, adjusted, vs. 85 cents per share estimate, adjusted, according to LSEG.Revenue: $13.64 billion vs. $13.54 billion estimate, according to LSEG.Cisco said in a filing that it’s implementing a restructuring plan that will result in $1 billion in pre-tax charges to its financial results and will “allow it to invest in key growth opportunities and drive more efficiencies in its business.” The company said $700 million…

Check out the companies making headlines in after-hours trading. Cisco Systems — The stock jumped 6% after the networking company reported an earnings and revenue beat for its fiscal fourth quarter, and also issued an optimistic forecast. Cisco posted adjusted earnings of 87 cents per share on revenue of $13.64 billion, while analysts polled by LSEG expected it to earn 85 cents per share on revenue of $13.54 billion. For the fiscal year, both revenue and earnings fell from the prior year, its first drop since 2020. Cisco also announced it will cut 7% of its global workforce. Ulta Beauty…

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. During the week of Aug. 5, 2024, average private student loan rates decreased for borrowers with credit scores of 720 or higher who used the Credible marketplace to take out 5-year variable-rate loans, while rates increased for 10-year fixed-rate loans. 10-year fixed rate: 7.71%, up from 7.50% the week before, +0.215-year…

When discussing Social Security filing strategies with clients, I often run across the confusion between a spousal benefit and a survivor benefit. There is a difference as they are two totally separate benefits. When your spouse passes away, the ability to collect a spousal benefit or continue to receive a spousal benefit ends as your spouse is deceased. After this life event, you are eligible to begin collecting a survivor benefit. This information applies to the current spouse only, not an ex-spouse. The 3 most common Social Security benefits are: 1. Worker benefits – the worker benefit is your own…