Author: Press Room

Mortgage rates continued their upward trajectory this week, climbing for a month straight while further pushing down demand in the stalled housing market. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage surged to 6.54% from last week’s reading of 6.44%. The average rate on a 30-year loan was 7.79% a year ago. “The continued strength in the economy drove mortgage rates higher once again this week,” said Sam Khater, Freddie Mac’s chief economist. “Over the last few years, there has been a tension between downbeat economic narrative and incoming…

The Consumer Financial Protection Bureau (CFPB) on Wednesday ordered Apple and Goldman Sachs to pay $89 million over mishandled transaction disputes and misrepresentations that impacted hundreds of thousands of Apple Card users. The CFPB found a breakdown in how customer service for the Apple Card handled consumer disputes, as Apple failed to send tens of thousands of disputes to Goldman Sachs and when it did send them, the bank failed to abide by federal requirements for investigating the disputes. The agency noted that the companies launched Apple Card despite warnings by third parties about technological issues with the Apple Card disputes system. That…

Mattel, Inc. (NASDAQ:MAT) Q3 2024 Earnings Conference Call October 23, 2024 5:00 PM ET Company Participants Jenn Kettnich – VP, IRYnon Kreiz – Chairman and CEOAnthony DiSilvestro – CFO Conference Call Participants Arpine Kocharyan – UBSMegan Alexander – Morgan StanleyDrew Crum – StifelStephen Laszczyk – Goldman SachsJim Chartier – Monness, Crespi, and HardtChristopher Horvers – JPMorganKylie Cohu – JefferiesAlex Perry – Bank of AmericaLinda Bolton-Weiser – D.A. DavidsonJaime Katz – MorningstarJames Hardiman – CitiFred Wightman – Wolfe Research Operator Thank you for standing by, and welcome to the Mattel, Inc. Third Quarter 2024 Earnings Conference Call. All lines have been…

Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseThe US Department of Justice has warned Elon Musk’s political action committee it may be violating federal law after the world’s richest man pledged to award $1mn a day to registered voters who sign a petition.The DoJ notified America Pac that the prizes Musk hands out to registered voters may flout US law, which bars paying individuals to register to vote, said a person familiar with the matter.The billionaire entrepreneur and Tesla chief executive, who has become an ardent…

The upcoming election is only days away, and the two presidential candidates remain in a statistical dead heat. Control of the U.S. Congress seems likely to be narrow as well, with either party having a chance to win control. Clearly, the electorate is deeply divided, and it is increasingly rare to find issues that transcend party lines. According to Gallup, polarization between Republicans and Democrats on social and policy matters has surged significantly in the past two decades. But amidst this political division, Americans are notably united in concerns about their economic security in retirement. In fact, a recent nationwide…

Cadence Bank (NYSE:CADE) Q3 2024 Earnings Conference Call October 22, 2024 11:00 AM ET Company Participants Will Fisackerly – Director, Corporate FinanceDan Rollins – Chairman and Chief Executive OfficerValerie Toalson – Chief Financial OfficerBilly Braddock – Chief Banking OfficerChris Bagley – President and Chief Credit Officer Conference Call Participants Manan Gosalia – Morgan StanleyBrett Rabatin – Hovde GroupCatherine Mealor – KBWMichael Rose – Raymond JamesBen Gerlinger – CitiMatt Olney – StephensGary Tenner – D.A. DavidsonJon Arfstrom – RBC Capital Markets Operator Good morning, and welcome to the Cadence Bank Third Quarter 2024 Webcast and Conference Call. All participants will be…

Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseThe US dollar has rallied to its strongest level since August, boosted by a recent string of strong economic data and investor bets that Donald Trump’s chance of winning next month’s presidential election is on the rise.The currency has climbed nearly 4 per cent since late September against a basket of rivals, helped by blockbuster US jobs figures earlier this month that prompted investors to scale back their expectations for Federal Reserve rate cuts. But traders and analysts say…

Subsidizing home care for aging adults has been discussed in decades past. Now it is part of the political discussion once again. Can it ever be achieved? Consider the obstacles and possible benefits. History In the 1970’s, less than ten years after Medicare became the law of the land in 1965, public health officials recognized that putting elders into nursing homes was very costly. Once a person had reached what Medicare terms “maximum rehab potential”, a very subjective term, Medicare benefits ended for a nursing home stay. That is still the way Medicare works. At that time in the 1970s,…

A new push to move credit card users to a digital statement will now come with a penalty for those who don’t want to comply. Credit card companies from big name retailers have been silently rolling out a fee of $1.99 if you wish to keep receiving paper statements.One of the biggest offenders is Synchrony Bank, and they have co-branded and store-affiliated credit cards with over 100 cards in their lineup, which include Sam’s Club® Credit Card, the Lowe’s Store Card, and the Amazon Store Card. In November of last year, Citibank released new guidance to its customers saying that…

This article was written byFollowVasily Zyryanov is an individual investor and writer.He uses various techniques to find both relatively underpriced equities with strong upside potential and relatively overappreciated companies that have inflated valuation for a reason.In his research, he pays much attention to the energy sector (oil & gas supermajors, mid-cap, and small-cap exploration & production companies, the oilfield services firms), while he also covers a plethora of other industries from mining and chemicals to luxury bellwethers.He firmly believes that apart from simple profit and sales analysis, a meticulous investor must assess Free Cash Flow and Return on Capital to…