Author: News Room

WASHINGTON – Federal Reserve officials on Wednesday held short-term interest rates steady but indicated that inflation is getting closer to its target, which could open the door for future interest rate cuts.Central bankers made no obvious indications, though, that a reduction is imminent, choosing to maintain language that indicates ongoing concerns about economic conditions, albeit with progress. They also preserved a declaration that more progress is needed before rate reductions can happen.”The Committee judges that the risks to achieving its employment and inflation goals continue to move into better balance,” the Federal Open Market Committee’s post-meeting statement said, a slight…

Meta’s ambitious plans to develop the metaverse is still costing the company billions of dollars a quarter.As part of the company’s second-quarter earnings report on Wednesday,  Meta’s Reality Labs unit, which houses augmented and virtual reality technologies, recorded an operating loss of $4.48 billion. Analysts polled by StreetAccount were expecting a loss of $4.55 billion.Since late 2020, the Reality Labs unit has generated cumulative losses of about $50 billion, underscoring CEO Mark Zuckerberg’s massive investments into the hardware and software that underpins what he says will be the next era of personal computing.Revenue in Reality Labs, largely derived from the…

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 July 22, 2024, average private student loan rates decreased for borrowers with credit scores of 720 or higher who used the Credible marketplace to take out 10-year fixed-rate loans and 5-year variable-rate loans. 10-year fixed rate: 7.50%, down from 7.62% the week before, -0.125-year variable rate: 9.65%,…

Sellers are pricing their homes at record-high prices, but buyers aren’t biting. High interest rates and high listing prices are keeping buyers away. This does mean that the buyers who are still looking have some wiggle room they haven’t had in the last few years. Pending home sales fell by 3.8% for the first half of June, the largest decline in about four months, according to Redfin data. As homes stay stagnant on the market, their listings sitting online for more than a month or more, some sellers are cutting prices.”A few years ago, I never would have told a…

Retirement accounts are protected from creditors and lawsuits most of the time, but not all the time. You should know the circumstances when an IRA or other retirement account might be vulnerable. In general, qualified retirement accounts are protected from creditors, whether or not bankruptcy is declared, by the federal Bankruptcy Abuse and Consumer Protection Act of 2005. For most types of retirement plans, the protection is unlimited. But IRAs receive limited protection with the protected amount adjusted for inflation every three years. Currently, up to $1,512,350 of an IRA is protected. There’s no limit, however, when the IRA was…

A series of viral posts on social media this week promoted claims that NFL quarterbacks Joe Burrow of the Cincinnati Bengals, Jared Goff of the Detroit Lions and Daniel Jones of the New York Giants had joined a public “White Dudes for Harris” online fundraising call Monday night in support of presumptive Democratic presidential nominee Vice President Kamala Harris. Facts First: The viral posts are false. A source connected to Burrow, a source connected to Goff and a source connected to Jones told CNN Tuesday that each of them was not on the call. The three quarterbacks have not publicly endorsed…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Israel has targeted a senior Hizbollah figure in an air strike on Beirut, saying the operation was retaliation against the individual responsible for a deadly rocket attack on the Israeli-occupied Golan Heights. A large explosion ripped through the Lebanese capital’s southern suburbs on Tuesday evening, with footage showing several floors of a residential building badly damaged and large plumes of smoke rising from it. This area of Beirut is a Hizbollah stronghold. The Israeli strike targeted Fuad Shukr, who is believed to…

Brembo S.p.A. (OTCPK:BRBOF) Q2 2024 Earnings Conference Call July 30, 2024 8:30 AM ET Company Participants Laura Panseri – Head of Investor RelationsMatteo Tiraboschi – ChairmanDaniele Schillaci – Chief Executive OfficerAndrea Pazzi – Chief Financial Officer Conference Call Participants Monica Bosio – Intesa SanPaoloMartino De Ambroggi – EquitaAndrea Balloni – MediobancaGiovanni Selvetti – BerenburgGianluca Bertuzzo – Intermonte SIMGabriele Gambarova – Banca Akros Operator Good afternoon. This is the Chorus Call Conference operator. Welcome and thank you for joining Brembo First Half 2024 Conference Call. As a reminder, all participants are in listen-only mode. After the presentation there will be an…

Consumers have reached their breaking point with $6 iced coffees and lemonades at Starbucks. Starbucks sales dropped 3% globally at stores open for at least a year, including a 2% drop in its home North America market. And that masked how steep the decline was for Starbucks last quarter: Total transactions at North American stores open at least a year fell 6% in the quarter. That was offset, in part, by higher prices. In other words: Fewer people are going to Starbucks and buying drinks and food. It was Starbucks’ second-straight quarter of sales declines. Starbucks’ struggles reflect consumer fatigue…

Starbucks on Tuesday reported quarterly revenue that missed analysts’ expectations as both its U.S. and international cafes faced weaker demand.Shares of the company rose more than 1% in extended trading.Here is what the company reported compared to what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: 93 cents adjusted vs. 93 cents expectedRevenue: $9.11 billion vs. $9.24 billion expectedThe coffee giant reported fiscal third-quarter net income attributable to the company of $1.05 billion, or 93 cents per share, down from $1.14 billion, or 99 cents per share, a year earlier.Excluding items, Starbucks earned 93…