Author: Press Room

Social Security is routinely clawing back benefits it claims it paid by mistake over years if not decades. This policy is cruel and unusual. It’s based on Social Security’s despicable mantra: Our mistake is your mistake. It leaves 77 million Social Security recipients living in constant fear of having benefits received for years, if not decades, clawed back in part or in full. These letters come with no explanation. If you don’t pay up, your benefits are turned off. Meanwhile you’ve paid taxes on those benefits. Social Security doesn’t seem to care if you are surviving on the benefits and…

You may not even be aware that there’s a Northern California city known as the Endurance Capital of the World. Yes, Auburn, with its Gold Rush history and landmark status has been the site of decades of epic events, such as the Western States 100-Mile Endurance Run, the Tevis Cup 100-Mile Endurance Equestrian Ride and the Auburn Triathlon. The former mining territory, once rich in gold, boasts natural wealth these days in the form of the Auburn State Regional Park with hiking, camping and whitewater rafting. Stretching along two forks of the American River, the recreation area bumps up against…

Mortgage rates fell for a fifth straight week, according to weekly data compiled by mortgage buyer Freddie Mac. The 30-year fixed-rate mortgage (FRM) averaged 6.27% as of April 13, down from 6.28% recorded last week. One year ago, the 30-year FRM averaged 5.00%.Meanwhile, the 15-year fixed-rate mortgage averaged 5.54%. Last week it averaged 5.56%. At the same time in 2022, the 15-year FRM averaged 4.17%. “Mortgage rates decreased for the fifth consecutive week,” said Sam Khater, Freddie Mac’s Chief Economist.  COMMERCIAL REAL ESTATE INDUSTRY ON EDGE AS DOWNTOWN EMPTY OFFICE SPACE GOES UNUSEDKhater continued that, “Incoming data suggest inflation remains…

Some Morgan Stanley financial analysts say the commercial real estate industry could be headed for a crisis worse than the 2008 great recession. This comes after businesses have left downtowns across the country with an increase in remote work and higher interest rates.  Many downtown buildings are owned by investment firms who rely on bank loans. But with businesses not renting as much office space and rising interest rates, some worry these firms may not have the money to pay back the banks.  In downtown Minneapolis, people are returning to see the Minnesota Twins play ball, attend a concert or catch a Broadway show.  “As we sit here today, we’re really beginning to move in a…

The Florida House of Representatives on Thursday passed legislation that would ban most abortions after six weeks, when many women don’t know they are pregnant. The bill passed by a vote of 70 to 40, largely along party lines. The measure now goes to Florida Gov. Ron DeSantis, who is expected to sign it into law.He reiterated his support for tighter abortion restrictions just last month, saying, “We welcome pro-life legislation.” The bill would only take effect if the state’s existing 15-week ban is upheld in an ongoing legal challenge that is before the state Supreme Court. The Republican governor last February…

First-quarter earnings season is about to kick off, and investors should be prepared to be inundated with endless headlines, news stories and analyses — some more useful than others — about a myriad of companies. While our general focus is on the 35 stocks currently in Jim Cramer’s Charitable Trust, the reality is that any investor who wants to stay up-to-date needs to follow the news around the other major companies in the sector in which they’re invested. By listening to what other companies are saying, we can better understand an industry and the potential implications for our holdings, all…

When customers at Silicon Valley Bank rushed to withdraw billions of dollars last month, venture capitalist Arlan Hamilton stepped in to help some of the founders of color who panicked about losing access to payroll funds. As a Black woman with nearly 10 years of business experience, Hamilton knew the options for those startup founders were limited. SVB had a reputation for servicing people from underrepresented communities like hers. Its failure has reignited concerns from industry experts about lending discrimination in the banking industry and the resulting disparities in capital for people of color. Hamilton, the 43-year-old founder and managing…

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Luna Classic (LUNC), the token that powers the original but now largely defunct Terra blockchain, has seen a strong rebound from its Wednesday lows on Thursday and, as per CoinGecko, was last trading around 3.5% higher in the last 24 hours just above $0.0001250.The cryptocurrency had dipped as low as $0.00012 on Wednesday, dropping under its 21-Day Moving Average in the process, but has since recovered in tandem with upside in major blue-chip cryptocurrencies like Bitcoin and Ether.Price predictions have thus become a tad more bullish. The former is performing as the US dollar weakens and US yields edge lower amid…

Hiya! Dan DeFrancesco in NYC, and as a frequent orderer of takeout, I’m enthralled by the recent debate over tipping etiquette for delivery drivers.  Today, we’ve got stories on a fintech’s partnership with a Marvel star, landlords are not having fun these days, and a breakdown of how much you can really save moving out of NYC.    But first, is this a tax write-off?If this was forwarded to you, sign up here. Download Insider’s app here.1. Kenny Giving. Billionaire hedge-fund manager Ken Griffin is back in the news, but this time it’s for what he’s giving, not taking (in). Griffin, who founded…