Author: Press Room

President Biden has announced a new student loan bailout for 35,000 borrowers through “Public Service Loan Forgiveness,” a program that Biden says has brought the total number of people getting debt relief from his administration to 4.76 million. Under the new plan, eligible public service workers get an average of $35,000 in debt relief, a statement from Biden’s administration said, totaling about $1.2 billion. “These 35,000 borrowers approved for forgiveness today are public service workers – teachers, nurses, law enforcement officials, and first responders who have dedicated their lives to strengthening their communities,” the statement said. “And because of the fixes…

July is often thought of as a time for home improvement projects, well-deserved vacations and leisurely day trips. In addition to these activities, financial pros say that the mid-year month of July is an ideal opportunity to assess your financial situation so you’re better prepared for the rest of the year. FOX Business asked money experts about why it’s important to take the time to check in on your money matters and how to implement a plan to achieve your short-term goals and long-term aspirations. Here’s how to get started.Why is now an ideal time for a mid-year money check-in? …

Independent Sen. Joe Manchin on Sunday called on President Joe Biden to exit the race against former President Donald Trump.”I came to the decision with a heavy heart that I think it’s time to pass the torch to new generation,” said Manchin on CNN’s “State of the Union.”The West Virginia senator, who registered as an independent in May but caucuses with Democrats, also called for an open nomination process, suggesting Pennsylvania Gov. Josh Shapiro and Kentucky Gov. Andy Beshear as contenders. That contrasts with others who view Vice President Kamala Harris as the favorite to take over the top of…

The Secret Service denied some of former President Donald Trump’s requests for additional security resources over the past two years, an official with the agency confirmed to NBC News.The Secret Service official said extra security accommodations could not always be made for Trump due to the department’s limited resources. The Washington Post was first to report the Secret Service’s acknowledgement.The requests that were denied did not pertain to the July 13 shooting at Trump’s Pennsylvania rally where the former president was injured, one person was killed and two others were critically wounded.”In some instances where specific Secret Service specialized units…

The world learned relatively quickly that cybersecurity firm CrowdStrike was behind a crippling global tech outage on Friday. But figuring out who will pay the bill for the damages could take a lot longer. What one cybersecurity expert said appears to be the “largest IT outage in history” led to the cancellation of more than 5,000 commercial airline flights worldwide and disrupted businesses from retail sales to package deliveries to procedures at hospitals, costing revenue and staff time and productivity. The problem was caused by a few bits of CrowdStrike’s own bad code in a software “content update.” Unfortunately, fixing…

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PDD Holdings (NASDAQ:PDD), also known as Pinduoduo, is a leading e-Commerce platform in China and one of the top three Chinese e-Commerce companies, next to Alibaba (BABA) and JD.com (JD), that dominate the market. PDD Holdings offers a variety of e-Commerce and related services such as fulfillment and logistics and Pinduoduo owns the hugely popular, deal-focused e-Commerce platform Temu. PDD Holdings is seeing strong tailwinds for its gross profits and net income and generating a ton of free cash flow. While not as cheap as either Alibaba or JD.com, PDD Holdings is well-positioned to deliver sustainable growth for shareholders and…

Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseDonald Trump appeared at his first campaign rally on Saturday since surviving an assassination attempt, joined on stage by his newly selected running mate JD Vance. Exactly one week after a shooter’s bullet narrowly missed Trump’s head at a rally in Butler, Pennsylvania, the former president looked relaxed as he rallied thousands of supporters on Saturday night in Grand Rapids, Michigan.“I shouldn’t be here. I shouldn’t be here,” Trump said on Saturday, arguing God had saved his life. “But…

Former President Bill Clinton and former Secretary of State Hillary Clinton have been privately encouraging donors in recent weeks to continue financially supporting President Joe Biden’s campaign, according to two sources familiar, in the aftermath of Biden’s disastrous debate performance that has sent the Democratic Party spiraling into chaos. One of the sources said the Clintons are choosing to be “deferential to Biden’s decision.” However, the second source, who is familiar with the Clintons’ thinking and has spoken with the couple in recent days, insisted that it is more accurate to say they are “deferential to the process.” According to…

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…