Social Security beneficiaries are expected to see a larger cost-of-living adjustment (COLA) next year amid rising inflation, according to new reports. An analysis by The Senior Citizens League (TSCL) predicts that the 2027 COLA will be 3.9%, which would represent an increase of 1.1 percentage points from this year’s 2.8%…
This is a developing story about the April 2026 CPI inflation report and will be updated with more details. Inflation surged in April as consumer prices rose amid the impact of the Iran war on the energy market and broader economy.The Bureau of Labor Statistics on Tuesday said that the consumer…
President Donald Trump is set to travel to China this week for a summit with Chinese President Xi Jinping that comes as the relationship between the world’s two largest economies is disrupted by ongoing trade disputes and emerging technology. Trump’s meeting with Xi in Beijing on May 14-15 comes amid…
Amazon is rolling out 30-minute delivery across dozens of U.S. cities, marking its fastest shipping option yet as the retail giant continues to accelerate its push into ultra-fast fulfillment. The new service, called Amazon Now, will deliver thousands of items — including groceries, household essentials and electronics — to customers’…
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Discount retailer Burlington is planning to open more than two dozen stores in 20 states this month as the company…
New Disney CEO Josh D’Amaro outlined a new growth strategy for the entertainment giant as the company announced its quarterly…
A lawyer for Spirit Airlines said Tuesday that the surge in jet fuel prices left the company with “no remaining…
Gary Shilling, the legendary forecaster known for his bearish accuracy and being fired from Merrill Lynch for predicting the 1969-70…
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The slowing labor market is posing a challenge to recent college graduates looking to begin their careers, with many new graduates finding work in Southern cities. A study by ADP using anonymized data to compare the 53 largest metro areas in the U.S. based on…
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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…
The Walt Disney Company is reportedly backing away from plans to spin off ESPN, shelving years of speculation that a standalone sports network could help offset the company’s declining cable business. The decision marks one of the first major calls under CEO Josh D’Amaro, who stepped into the role in…
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…
The United Arab Emirates said on Tuesday that it will leave OPEC and OPEC+, effective May 1. The stunning loss of the UAE, a longstanding OPEC member, could create disarray and weaken the group, which has usually sought to show a united front despite internal disagreements over a range of…
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…
Americans are facing mounting financial pressure, but even small changes to everyday habits could make a major impact on long-term wealth, one expert says. Nearly three-quarters of Americans failed to meet their savings and spending goals last year, according to a Vanguard consumer survey — highlighting nationwide financial pressure.Many households…
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