American retirees who are receiving Social Security will see an annual cost of living adjustment (COLA) next year, and a new report projects that next year’s benefit increase may be smaller than many retirees expect. A new analysis by The Senior Citizens League (TSCL) predicts that Social Security’s 2027 COLA…
Mortgage rates fell 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 declined to 6.3% from last week’s reading of 6.37%. The average rate on a 30-year loan was 6.83% a year ago.…
Spirit Airlines is facing renewed financial pressure as rising fuel costs threaten to complicate its efforts to exit bankruptcy, adding uncertainty to its restructuring plan, according to reports. The low-cost carrier, which filed for Chapter 11 bankruptcy protection in late 2024, has been working toward a financial overhaul aimed at…
Snap on Wednesday announced plans to lay off roughly 1,000 employees, as the tech company adopts artificial intelligence (AI) and looks to streamline its operations. The parent company of Snapchat will also close over 300 open roles as part of its workforce restructuring, which comes after Irenic Capital Management pushed…
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Assets under management for U.S. exchange-traded funds could more than double to $25 trillion by the end of this decade,…
BlackRock has filed for an exchange-traded fund that will track the Nasdaq-100, in a challenge to Invesco’s dominance in a…
Oracle on Monday announced it hired a new chief financial officer after the software giant moved forward with layoffs last…
Tech giant Meta is planning to move forward with laying off about 200 employees in the San Francisco Bay Area.…
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More than two thousand years ago, Greek philosopher Heraclitus of Ephesus coined the phrase, “Change is the only constant.” That observation has remained true since his death, but now change is happening even faster, largely due to generative artificial intelligence (Gen-AI) technology such as ChatGPT…
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Mortgage rates fell this week after President Donald Trump announced a two-week ceasefire between the U.S. and Iran, 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 declined to 6.37% from last week’s reading of…
Amazon is signaling a major shift in how it plans to serve customers, starting with rewriting parts of its own playbook. CEO Andy Jassy released his annual letter to shareholders on Thursday, writing that the tech giant is not content to simply add artificial intelligence features to its existing retail…
Americans are facing a tale of two grocery lists. While some prices are cooling, the items families rely on most for energy and nutrition — meat and coffee — are seeing sharp increases that wipe out any savings in the bread aisle.Fourteen of the 25 most common grocery store staples…
This story about the fourth-quarter GDP report is developing and will be updated with more details. The U.S. economy grew at a slightly slower pace than expected in the fourth quarter, according to the Commerce Department’s estimate.The Bureau of Economic Analysis (BEA) on Thursday released its final reading of fourth-quarter GDP, which…
Tax season is closing in on the April 15 deadline to file your return or request an extension and a new report details some common mistakes that Americans are making throughout the year that are costing them money. A report by GOBankingRates broke down five tax mistakes that could cost…
A Federal Reserve policymaker is warning that it could make sense to raise interest rates if inflation remains elevated above the Fed’s 2% target amid uncertainty over the duration of the oil and gas price shock. Federal Reserve Bank of Cleveland President Beth Hammack said in an interview with The…
A new report from Gallup finds that U.S. workers are less optimistic about the job climate and their level of engagement with their current jobs has remained relatively flat. Gallup released its 2026 State of the Global Workplace report on Wednesday, which showed that while 51% of global workers think…
Goldman Sachs said on Thursday it has completed the acquisition of active exchange-traded fund provider Innovator Capital Management, expanding the Wall Street bank’s presence in the fast-growing active ETF segment. Active ETFs are among the fastest-growing areas of asset management, attracting investors with lower costs and flexible strategies at a…
American consumers who are in the market for used cars are facing the highest prices in nearly three years, according to a new report. Wholesale prices for used vehicles rose to their highest level since the summer of 2023 in March, with the Manheim Used Vehicle Value Index rising 6.2%…
JPMorgan Chase CEO Jamie Dimon warned that New York City and other cities with high taxes and regulatory burdens run the risk of losing businesses and workers to locales with more hospitable business climates. Dimon released his annual letter to shareholders on Monday in conjunction with the firm’s 2025 annual…
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