Gary Shilling, the legendary forecaster known for his bearish accuracy and being fired from Merrill Lynch for predicting the 1969-70 recession, is sounding the alarm on a 2026 economic collapse. In a recent interview with Business Insider, Shilling warned that a U.S. recession is “almost inevitable” by year-end, driven by…
Officials are warning customers about banking spoof calls that could trick them into emptying their accounts, with scammers posing as banking or law enforcement officials who claim they are trying to protect the customer’s money. The FBI has described these calls as a growing problem in which customers are convinced…
Foreclosures rose to the highest level in six years in the first quarter of this year as homeowners are squeezed by rising costs related to insurance and property tax bills. The Wall Street Journal reported that data from Attom shows the number of U.S. properties with a foreclosure filing has…
Several U.S. restaurant chains are reporting weaker than expected sales growth in the latest quarter as high gasoline prices squeeze consumers’ budgets. Gas prices have surged amid the war in Iran, with average gas prices reaching $4.45 a gallon around the country, an increase of about 41% in the last…
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Fidelity and Vanguard’s charitable arms have reportedly paused grants to the Southern Poverty Law Center (SPLC) through their donor-advised funds…
Apple CEO Tim Cook says he is stepping down after 15 years as chief executive because three key factors aligned:…
The Walt Disney Company is reportedly backing away from plans to spin off ESPN, shelving years of speculation that a…
The United Arab Emirates said on Tuesday that it will leave OPEC and OPEC+, effective May 1. The stunning loss…
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Mortgage rates ticked slightly higher this week, mortgage buyer Freddie Mac said Thursday. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 6.3%, up from 6.23% last week. The average rate on a 30-year…
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Federal Reserve Chair Jerome Powell on Wednesday announced he will remain a member of the Fed’s Board of Governors after his term as chairman ends next month, though he added that he won’t be a “shadow Fed chair.” The outgoing Fed chair hosted his final news conference after the Federal…
This story about the Federal Reserve’s April interest rate decision is developing and will be updated with further details. The Federal Reserve on Wednesday announced it will leave interest rates unchanged amid concerns about inflation rising further amid the war in Iran.Fed policymakers voted to leave the benchmark federal funds rate…
The AAA national average price for regular gas has soared to $4.229 as of Wednesday, the highest notched so far during the ongoing tensions between the U.S. and Iran. While that number is more than a dollar higher than the AAA national average of just $3.161 a year ago, it…
A new proposal would allow Social Security beneficiaries to continue working without having their benefits diminished, which could make it easier for retirees to pay off their mortgages or more easily handle other expenses like property tax burdens. The Senior Citizens’ Freedom to Work Act was introduced in Congress earlier…
For the generation that should be in its “peak savings years,” the prospect of retiring on time has shifted from a plan to a prayer. A newly released Employee Financial Wellness Survey by PwC found that nearly 50% of Gen X employees are pushing back their retirement dates, citing stagnant…
Many California residents who move out of the state are finding substantial savings on housing costs and an easier pathway to homeownership as affordability concerns weigh. A recent analysis by the California Policy Lab at UC Berkeley, using data that anonymously tracks the same households over time from 2016 to…
The Federal Reserve will announce its latest interest rate on Wednesday when Fed Chair Jerome Powell will host what may be his final press conference as the leader of the central bank, with his term as chairman due to expire next month. The Federal Open Market Committee (FOMC), the Fed…
A group of budget airlines is reportedly seeking financial assistance from the federal government that could convert to an equity stake in the air carriers. The Wall Street Journal reported on Sunday that the group of budget airlines, including Frontier and Avelo, is seeking $2.5 billion in federal assistance through…
United Airlines on Monday announced that it’s ending its pursuit of a potential merger with American Airlines after its rival rebuffed an initial approach to discuss a deal. United CEO Scott Kirby said in a statement published on Monday that he approached American Airlines about a potential merger because he…
Chevron CEO Mike Wirth warned that strain on the aviation industry could intensify in the coming weeks as jet fuel supplies tighten, driven by disruptions tied to the Iran war. Appearing Sunday on CBS News’ “Face the Nation,” Wirth said jet fuel in key regions was already at seasonally low…
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