Energy Secretary Chris Wright on Thursday said that while the U.S. Navy may soon be in a position to escort oil tankers through the Strait of Hormuz to protect them from attacks by Iran, the Navy isn’t yet ready to do so. Wright said in an interview on CNBC’s “Squawk Box” that…
BARTOW, Florida – Florida is facing its worst drought in 25 years, intensifying pressure on a citrus industry already battered by disease, hurricanes and rising costs. According to the U.S. Drought Monitor, 100% of the state is experiencing some level of drought, with more than 75% in extreme drought conditions. The…
General Motors has issued a recall affecting more than 17,000 vehicles over a rear toe link fracture that increases the risk of a crash. The recall from General Motors applies to about 17,050 Buicks due to a rear toe link fracture that can cause loss of vehicle control, increasing the…
Papa John’s International is reportedly reviewing a new proposal to take the company private in a potential $1.5 billion acquisition, according to Reuters. Irth Capital Management, a Qatari-backed investment fund supported by Brookfield Asset Management, reportedly submitted the proposal on Wednesday, offering $47 per share, a 44% premium over the…
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Annual inflation increased to 2.8% in February, an unexpected decline from 3.0% in January, according to the Consumer Price Index (CPI)…
Retirement nest eggs and Social Security benefits are key sources of funds for many Americans as they live out their…
The Federal Reserve just met to discuss the possibility of interest rate cuts. This time around, the Fed decided to…
More savers are embracing the tax-advantaged accounts, and many will contribute leading up to tax day. Young savers are flocking…
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A projectile hit a Thai-flagged cargo ship off the coast of Oman in the Strait of Hormuz, setting it on fire. The Iranian regime reportedly claimed responsibility for striking the ship, the Mayuree Naree. The Omani navy was assisting in rescuing crew members amid the…
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Using “buy now, pay later” (BNPL) has become increasingly common in recent years as people look to split up and finance purchases they make. According to Credit Sesame financial analyst Richard Barrington, some key steps people should take as they utilize BNPL include budgeting beforehand, reviewing the terms of the…
Retirement account balances dipped in the first quarter due to stock market turbulence. Still, people kept socking away money for their retirement, according to new data from Fidelity Investments. The financial services company analyzed more than 50 million retirement accounts, finding that the average balances of 401(k), IRA and 403(b)…
Managing one’s finances can be challenging, especially when faced with conflicting — and often wrong — information fed to people, especially on social media. Buying into common misconceptions surrounding money can be harmful, putting someone on their back foot when it comes to financial health. Jonathan Kim, a personal finance expert…
How people tackle their finances can vary but, according to new research from PYMNTS, there are two ways that are most common. PYMNTS found just 40% of American consumers are “planners,” meaning their strategy for money had more foresight. That figure has gone down compared to the roughly half who tackled…
Retirement remains top of mind for many Americans, whether they are approaching their so-called “golden years” or have many years to go before leaving the workforce. How much money a person needs to have saved to retire without financial stress is an important consideration in the retirement preparation process, and…
FICO said on Monday that it is going to incorporate buy now, pay later (BNPL) data into credit scores as the payment method surges in popularity. The FICO Score 10 BNPL and FICO Score 10 T BNPL will be the first credit scores from a leading credit scoring provider to…
The average net worth that Americans feel is needed to qualify as wealthy has surprisingly declined, compared to last year, though it is still an eye-popping figure, Charles Schwab found. The financial services company said in the latest edition of its “Modern Wealth Survey” that Americans now view $2.3 million…
For decades, Americans were given the same advice about money: Find a good financial adviser. Trust the person, not just the process. That model worked when markets were simpler, tax laws changed more slowly, statements arrived quarterly and financial decision-making wasn’t so complex. But today, investors are navigating inflation, volatile…
The Federal Aviation Administration (FAA) announced Monday that it selected eight proposals for a new pilot program testing new advanced air mobility and electric vertical takeoff and landing (eVTOL) aircraft in 26 states. Transportation Secretary Sean Duffy and the FAA unveiled the pilot program, known as the Advanced Air Mobility and…
A strong credit score can be the key to major financial purchases and affordable loans, but some states saw notable declines that created a “perfect storm” for Americans’ wallets, according to a credit repair expert. On Thursday, WalletHub released its list of the states with the largest credit score decreases,…
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