Author: Press Room
Many critics have blasted new rules from the Biden administration that will force good-credit homebuyers to subsidize the costs of buyers with poor credit. One former Obama housing official is calling out the “unprecedented” move, arguing this is “not the way” to bring in more home buyers. “This is an unprecedented move,” Former Federal Housing Administration Commissioner David Stevens said on “America Reports” Thursday. “We can do better programs to help more minorities get into homeownership. This is not the way to do it.”New rules from the Federal Housing Finance Agency (FHFA) will allow consumers with lower credit ratings and…
Millions of Americans are struggling with mounting credit card debt, and these surging credit card balances increased by $61 billion in the fourth quarter of 2022 to $986 billion. These staggering figures are already higher than pre-pandemic levels of $927 billion, according to a report from the Federal Reserve Bank of New York. As surging inflation and rising interest rates have a grip on the U.S. economy, Americans’ credit balances will likely continue to rise and be even more costly to pay off. According to Bankrate, the average credit card interest rate is 20.21%. The best way to combat these…
A federal appeals court on Thursday temporarily blocked a House Judiciary Committee subpoena for testimony from a former Manhattan prosecutor who was involved in a criminal investigation of ex-President Donald Trump.The order by the 2nd Circuit Court of Appeals in New York came just hours before the former prosecutor, Mark Pomerantz, had been directed by a federal judge to sit for a deposition with the committee.Manhattan District Attorney Alvin Bragg’s office is heading an unprecedented criminal case against Trump, the Republican former president and current leading presidential candidate, on charges of falsifying business records. Trump has pleaded not guilty to the…
Check out the companies making headlines in extended trading.CSX — The transportation company’s shares were up 2.6% after the company’s first-quarter earnings and revenue topped analysts’ expectations. CSX posted earnings of 48 cents per share and revenue of $3.71 billion. Analysts polled by Refinitiv had anticipated earnings of 43 cents per share and $3.58 billion in revenue.Knight-Swift Transportation — Shares fell less than 1% after the freight transportation company reported a miss on earnings for the first quarter. The company reported adjusted earnings of 73 cents per share, while analysts estimated per-share earnings of 81 cents, according to FactSet. However, the company’s…
Ramesh “Sunny” Balwani, the former chief operating officer of failed startup Theranos and ex-boyfriend of founder Elizabeth Holmes, has reported to prison, according to his attorney. “Mr Balwani turned himself in… smoothly without incident,” Jeffrey Coopersmith, Balwani’s attorney, said in an email to CNN on Thursday. “We will continue to fight for him because we do not believe that he received a fair trial.” Balwani’s arrival into custody marks an end to a years-long saga which saw him go from serving as a top executive at a high-flying Silicon Valley company to being one of the rare tech executives convicted…
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Investors have turned their most bearish on Bitcoin’s short-term price outlook in more than one month, according to options market data presented by crypto data analytics website The Block.However, at the same time, investors seemingly remain confident in BTC’s longer-term outlook.The 25% delta skew of Bitcoin options expiring in seven days fell to around -2 on Friday, its lowest level since the 14th of March.A 25% delta skew of below zero means that bearish Bitcoin put options expiring in seven days are trading at a premium versus equivalent bullish call options, suggesting investors disproportionately demand the former.The increase in demand…
Snapchat is widening its stories ad-revenue sharing program to more creators. Brand-safe creators with 50,000 followers, 25 million monthly views, and 10 stories now qualify. The expansion comes as competitors YouTube and TikTok also test ad-revenue sharing with users. Snapchat is opening up ad-revenue sharing to more creators, the company announced during its partner summit on Wednesday.Snap has been testing since early 2022 paying a cut of the advertising revenue from its stories feature to some influencers who are in its Snap Stars program.Now, Snap will automatically review creators to join the Snap Stars program and start earning ad revenue…
Almost $69bn leaked out of US money market funds during the week ending April 19, marking a sharp reversal after banking turmoil and the highest yields in years sent hundreds of billions of dollars flooding into the vehicles in March alone.Government money market funds, which typically hold cash and ultra-safe short-term Treasury debt that is easy to buy and sell, endured outflows of $60bn, largely driven by institutional investors. Prime funds, which can also hold bank debt, were hit by a smaller decline of just $2bn, according to new data from the Investment Company Institute. The moves took overall money…
Plans are in motion for President Joe Biden to formally announce his bid for a second term as soon as next week, with a campaign-style video set to be released to definitively answer the question of whether he will run again and igniting an aggressive fundraising effort to help Democrats hold the White House. Biden’s small circle of close-knit advisers and allies are preparing for a video announcement Tuesday that would coincide with the anniversary of Biden’s 2019 campaign announcement, according to four sources familiar with the matter. Advisers inside and outside the White House caution that timing could still…
