Author: Press Room

By Libby George LONDON (Reuters) – Egypt’s blockbuster cash infusions, currency devaluation and interest rate hike are not quite enough for Fitch to adjust the country’s credit rating, the agency’s head of Middle East and Africa sovereigns told Reuters. The North African nation, which has been struggling with a prolonged economic crisis linked to chronic foreign currency shortages, stunned markets in February with a $35 billion land development deal with Emirati sovereign wealth fund ADQ. It then allowed the Egyptian pound to drop beyond 50 versus the dollar and hiked interest rates by 600 basis points, securing it an expanded…

Talk about denial. Someone made up a ridiculous story about aging, that it’s merely a number, implying that it means nothing. This myth appears frequently in the media, in ads, in stories and sometimes in fake conversations. What is ridiculous about it is that aging is a process. Whatever one’s age, including the elders in our own families, we recognize that the process takes its normal toll. We cling to that myth when we can’t face it that the process of getting older is really happening to us or our loved ones. The Truth Despite America’s negative attitude about aging…

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 7.375% as of March 19, which is 0.250 percentage points higher than yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.125%, which is unchanged from yesterday. With mortgage rates changing daily, it’s a good idea to check today’s rate…

The Biden administration’s rollout of a new system for college students and their families to access federal financial aid has prompted a government watchdog to open two new investigations into the botched overhaul. A bipartisan omnibus spending bill enacted in December 2020 included legislation aimed at reforming and streamlining the process for submitting the Free Application for Federal Student Aid (FAFSA) ahead of the 2024-25 award year. Incoming and current students as well as their families must complete the FAFSA if they want to receive federal financial aid at institutions of higher education in the next academic year.Despite that lead…

The Biden administration on Tuesday finalized a new rule to cap all credit card late fees at $8, a move that is expected to elicit fierce pushback from industry giants.  The Consumer Financial Protection Bureau estimates the new regulation will save American families more than $10 billion in late fees annually by reducing the typical late fee of about $32. That amounts to an average saving of roughly $220 per year for the 45 million people who are charged late fees. The rule applies to the country’s largest credit card issuers, which covers those with more than 1 million open accounts.…

New York Community Bancorp is seeking to raise equity capital in a bid to shore up confidence in the troubled regional lender. NYCB, buffeted by fears over potential real-estate loan losses, weaknesses in its internal controls and a sharp drop in its stock price, has dispatched bankers to gauge investors’ interest in buying stock in the company, people familiar with the matter said.There’s no guarantee there will be a deal, or that one would succeed in addressing the bank’s challenges, which as of Wednesday morning had led to a roughly 70% decline in its stock price since January. NYCB REPLACES…

Saving money should be a priority for Americans, no matter what age or financial state they’re in. The volatility of the stock market, inflation and other money-sucking elements of everyday life are only a few reasons why various savings accounts should be at the forefront of minds. While income is a direct factor in how much an individual can contribute financially to their future, various states across the country provide a greater ability to save than others.At the end of 2023, the states with the highest housing costs include Hawaii, Massachusetts, California, New York, Alaska, Maryland, Vermont, Oregon, Washington and…

It was a great first quarter of the year for stocks. The S & P 500 jumped 10.16% over the first three months and notched a series of all-time highs, including in Thursday’s session. It marked the index’s best first quarter in half a decade. The Dow Jones Industrial Average and Nasdaq also had strong performances and hit records during the quarter. The blue-chip Dow finished Thursday at a fresh peak, while the tech-heavy Nasdaq’s most recent record came on March 22. Markets have been buoyed by strong U.S. economic data , and investor excitement around artificial intelligence continued to propel…

Sneakers. Perfume. Trading cards. Bibles.Those are just some of the products Donald Trump is hawking while he runs to unseat President Joe Biden.They join a sprawling catalog of Trump-branded merchandise, ranging from steaks to scented candles, that the businessman-turned-president has licensed over the years. But as his campaign coffers dwindle and his fortune comes under threat, Trump — who has never completely severed his political career from his financial one — is now actively intertwining his business ventures with his White House bid.”There is no precedent for this level” of business activity during a presidential campaign, Harvard Law School Professor…

A federal judge on Thursday ordered Sam Bankman-Fried to repay more than $11 billion as part of his sentence for defrauding customers and investors in his failed crypto exchange FTX. Experts say this amount will likely financially incapacitate him for the rest of his life. “This forfeiture is designed to make certain that if SBF ever makes money, it goes not to him but to the government and the victims,” Mitchell Epner, a former federal prosecutor, told CNN. “He will never be able to accumulate funds in his life, and forfeiture cannot be eliminated through bankruptcy.” The court has some…