Author: News Room
Nahjae Olin was born and raised in the Bronx, New York City. She and five of her siblings grew up in a one-bedroom apartment just one block away from the place she now calls home.In 2019, the 26-year-old preschool teacher had just moved back in with her family after graduating from college. By the end of that year, Olin tells CNBC Make It she had started planning to find her own apartment.”I was back from school in 2019, and towards the end of the year, I was going through a rough time with my mom and knew I needed to…
A federal appeals court on Thursday issued a ruling that blocks the Biden administration from continuing to implement a new version of its student loan debt handout plan that is designed to reduce monthly payments for borrowers. The U.S. Eighth Circuit Court of Appeals granted a request by seven Republican states to block portions of the Education Department’s plan that a lower court judge hadn’t previously blocked.Last month, a U.S. District Court in St. Louis blocked the agency from moving forward with granting additional student loan forgiveness under the Biden administration’s Saving on a Valuable Education (SAVE) plan – though…
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. The interest rate on a 30-year fixed-rate mortgage is 6.875% as of June 24, which is unchanged from Friday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.000%, which is also unchanged from Friday. With mortgage rates changing daily, it’s a good idea to check today’s rate before applying…
Today, July 19, 2024, the IRS and Treasury Department released long-awaited final regulations on Required Minimum Distributions. RMDs are mandated yearly withdrawals from IRAs, 401(k)s and other tax deferred retirement plans. The final regulations clarify changes brought about by the SECURE Act, which took effect in 2020, and the SECURE 2.0 Act, which was signed into law at the end of 2022. The new rules start taking effect on January 1, 2025. Summary of Comments To get a quick overview, I suggest focusing on the 14-page “Summary of Comments and Explanation of Revisions.” 10-Year Rule One of the issues clarified…
After conducting more than 200 interviews and combing through his phone and internet search history, federal investigators have pieced together an early portrait of the man who sought to assassinate former President Donald Trump: Thomas Matthew Crooks was an intelligent, unassuming loner, who expressed an interest in guns and was far from outspoken about politics. But the emerging profile of Crooks nearly a week after the shooting has left authorities puzzled about a motive for his assault and has had investigators speculating that his intentions may have been less politically motivated and more about attacking the highest-profile target near him. The investigation…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Activist investor Elliott Global Management has accumulated a sizeable minority stake in coffee chain Starbucks, according to two people familiar with the matter, the latest in a series of campaigns targeting large-cap companies.Elliott had pushed for change behind the scenes in recent weeks, the people said. The size of its position in the $88bn company could not be immediately learned, but shares of Starbucks jumped 5 per cent after the stake was reported by The Wall Street Journal on Friday. The move comes…
In no huge surprise, Spirit Airlines, Inc. (NYSE:SAVE) is set to report a weak Q2 as domestic yields dipped due to overcapacity. The airline sector is quickly adjusting capacity to match what’s actually record passenger travel in a sign of how the sector has evolved over time. My investment thesis remains Ultra Bullish on the stock with a fare turnaround set to occur in the next 30 days. Source: Finviz Domestic Weakness Spirit Airlines released weak preliminary numbers back on July 16. The company will report official numbers in early August and provide investors with key guidance for the current…
When computers and tech systems around the world went down Friday, snarling airports, closing Social Security offices and limiting jail operations, many people had one question: How on Earth could this happen in 2024? A software update from a single cybersecurity company, US-based CrowdStrike, was the root cause of the chaos, underlining the fragility of the global economy and its dependence on computer systems to which relatively few people give a passing thought. “[M]ost people believe that when the end of the world comes, it will be AI taking over some kind of nuclear power plant and shutting down electricity,”…
Check out the companies making headlines in midday trading. CrowdStrike – The stock fell more than 11% after an update by the cybersecurity firm caused a major IT outage that affected airlines, hospitals, financial services firms and other businesses . Shares of Microsoft moved nearly 1% lower following the news that many Microsoft users around the world were hit with an error screen called the “blue screen of death.” The outage also sent shares of CrowdStrike rivals SentinelOne and Palo Alto Networks higher, with the stocks gaining nearly 8% and more than 2%, respectively. Plug Power – Shares of the…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: After slightly lower opens, the S & P 500 and Nasdaq Composite were firmly in the red in Friday afternoon trading and on pace for a third straight day of declines. The Dow Jones Industrial Average also fell Friday. Much of the week was dominated by the market rotation out of 2024 technology winners into small caps and value stocks. But what we have Friday is a more typical down…
