Author: Press Room

As protests and attempts to quell them spread from New York to Los Angeles and many states in between, President Joe Biden finds himself caught in a series of political and diplomatic crosscurrents without an easy solution. He is opposed to lawlessness and the takeover of campus buildings and has strongly condemned dark instances of antisemitism. But he is also mindful of students’ right to protest, even when the anger is directed at his own policies toward Israel. At the same time, he is navigating a highly sensitive moment in the Gaza war, as officials pursue a fresh proposal to…

The IRS is mailing compliance letters, known as CP59 notices, “on more than 125,000 cases where tax returns haven’t been filed since 2017.” According to the IRS, the mailings are being sent to more than 25,000 people who have more than $1 million in income between tax years 2017 and 2021, and to more than 100,000 people who have incomes between $400,000 and $1 million during that time span. The common factor for these cases? They involve the IRS receiving “third-party information” — for example, W-2 and 1099 forms — that indicated “these people received income in these ranges but…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. The interest rate on a 30-year fixed-rate mortgage is 7.000% as of April 1, which is unchanged from Friday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.000%, which is also unchanged from Friday. With mortgage rates changing daily, it’s a good idea to check today’s rate before applying…

The amount Americans believe they will need to retire comfortably has increased faster than inflation, but what they are saving has dropped, a recent survey said.  U.S. adults believe they will need at least $1.46 million to retire in style, according to a Northwestern Mutual survey. This figure is up 15% from the $1.27 million Americans said they needed last year. In 2020, survey respondents thought having $951,000 stashed away would provide a good enough cushion.  At the same time, the average amount Americans have saved for retirement dropped to $88,400 from $89,300 in 2023, and is more than $10,000 off its…

Federal Reserve leaves interest rates unchangedCentral bank policymakers held steady on interest rates at the conclusion of their meeting, a move that was widely expected by the markets.The fed funds target rate remains at its 5.25% to 5.5% range.— Darla MercadoMarkets before the Fed’s policy decision announcementThe S&P 500 and the Nasdaq Composite were each down about 0.2% as the Federal Reserve prepares for its rate decision. The Dow Jones Industrial Average was higher by roughly 130 points, or 0.3%.The yield on the 2-year Treasury was lower by about 3 basis points at 5.012%, while the rate on the 10-year…

Just ahead of its blowout first-quarter earnings report last week, Google laid off at least 200 employees from its “Core” teams, in a reorganization that will include moving some roles to India and Mexico, CNBC has learned.Google’s Core unit is responsible for building the technical foundation behind the company’s flagship products and protecting users’ online safety, according to Google’s website. Core teams include key technical units from information technology, its Python developer team, technical infrastructure, security foundation, app platforms, core developers and various engineering roles.At least 50 of the positions eliminated were in engineering at the company’s offices in Sunnyvale, California, filings…

Dozens of former Google workers filed a complaint with the US National Labor Relations Board on Tuesday after they were fired or placed on administrative leave last month for protesting the company’s cloud-computing contract with Israel’s government. The complaint accuses Google of retaliating against the workers for their “protected concerted activity, namely, participation (or perceived participation) in a peaceful, non-disruptive protest that was directly and explicitly connected to their terms and conditions of work.” The workers are seeking reinstatement of their jobs and back pay, according to No Tech for Apartheid, a group made up in part by Google and…

Last updated: May 1, 2024 12:42 EDT | 2 min read Proposed stablecoin legislation is unlikely to be tacked onto the must-pass Federal Aviation Administration’s (FAA) reauthorization bill despite attempts by Representatives Maxine Waters and Patrick McHenry, a Democratic aide on Capitol Hill revealed Tuesday.Stablecoin Legislation Merger With FAA Reauthorization UnlikelySpeaking with CoinDesk, the anonymous staffer claimed that leaders in both the Senate and the House of Representatives are not keen on adding legislation dealing with stablecoins onto the staple FAA bill. U.S. lawmakers typically pass less popular legislation to larger bills almost guaranteed to pass in hopes of drumming up…

The SEC is cracking down on investment advisers is says falsely claim to use AI. The agency settled with two advisers, Delphia and Global Predictions, who agreed to pay fines of $225,000 and $175,000, respectively. “Investment advisers should not mislead the public by saying they are using an AI model when they are not. Such AI washing hurts investors,” SEC chair Gary Gensler said. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app The SEC is beginning to crack down on companies it says are “AI washing.”In a release…

Two tribes are suing social media giants, accusing them of contributing to the high suicide rates among Native teenagers by purposely getting kids hooked on their platforms.The lawsuits were filed in Los Angeles County Superior Court on Tuesday. One was brought on behalf of the Spirit Lake Tribe in North Dakota, and the Menominee Indian Tribe of Wisconsin brought the other. The lawsuits name Facebook, Instagram, Snapchat, TikTok, YouTube, and their parent companies, including Meta and Google as defendants.”Given historic teen suicide and mental health issues on our Reservation and across Indian Country, Native youth are particularly vulnerable to the…