Author: Press Room

Stay informed with free updatesSimply sign up to the Media myFT Digest — delivered directly to your inbox.Two of America’s biggest television companies have admitted that their cable channels are worth $15bn less than they had thought, highlighting the accelerating collapse of what had once been one of the most lucrative businesses in media history. Paramount on Thursday wrote down the value of its cable channels — which include MTV, Nickelodeon and Comedy Central — by $6bn. This came just 24 hours after Warner Bros Discovery wrote off $9bn of the value of its cable channels, including CNN, HGTV and…

Newly selected Democratic vice presidential candidate Minnesota Gov. Tim Walz is facing scrutiny over his military service record, with critics, including his Republican rival Sen. JD Vance, accusing Walz of falsely suggesting he saw combat during his time as an Army reservist. It’s not the first time Walz has encountered such criticism. A CNN KFile review reveals that similar accusations were made in 2006, during Walz’s first run for Congress. That year, multiple letters to his local paper in Mankato, Minnesota, accused him of making misleading statements about his service, including whether he had served in Iraq or Afghanistan. Walz…

It’s a common problem these days, with nearly one in seven older people diagnosed with some kind of dementia. These folks lose their financial judgment early in the process of cognitive decline. Caring family members get alarmed, and try to reason with their impaired elder. That leads to conflict, as reason fails. Is there a solution? Here at AgingParents.com, we hear about this most often when the elder is in their 80s. The adult child seeks advice after discovering that Mom or Dad is getting ripped off by someone, or an institution, or they are wildly spending beyond their means.…

Americans still believe in homeownership, but high home prices, soaring borrowing rates and misconceptions about the homebuying process keep many from achieving their goal, a recent survey said. The majority of Americans (83%) consider homeownership an essential life milestone and 40% think about it at least once a week, according to the KB Home survey. Moreover, 58% are prepared to spend less on non-essentials to save for a downpayment and 45% would even consider a side hustle to earn extra income to achieve their goal. Nearly 50% of Americans want a home for privacy reasons, while 44% said they considered buying…

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. Borrowers with good credit seeking personal loans during the past seven days prequalified for rates that were lower for 3-year loans and higher for 5-year loans when compared to fixed-rate loans for the seven days before. For borrowers with credit scores of 720 or higher who used the Credible marketplace to…

Republican presidential nominee Donald Trump on Thursday said that he should have a voice when the Federal Reserve makes its decisions on interest rates.”I feel the president should have at least (a) say in there,” Trump said during a news conference at his Mar-a-Lago residence in Florida. “Yeah, I feel that strongly. I think that in my case, I made a lot of money, I was very successful, and I think I have a better instinct than, in many cases, people that would be on the Federal Reserve or the chairman.”The comments seem to reinforce reporting earlier this year, from…

Delta Air Lines on Thursday said last month’s CrowdStrike outage and subsequent mass flight cancellations cost it some $550 million and reiterated that it is pursuing damages against the company as well as Microsoft.The financial impact includes a $380 million revenue hit in the current quarter “primarily driven by refunding customers for cancelled flights and providing customer compensation in the form of cash and SkyMiles,” the Atlanta-based airline said in a securities filing.The incident, in which it canceled some 7,000 flights, also meant a $170 million expense “associated with the technology-driven outage and subsequent operational recovery,” the carrier said, adding…

US mortgage rates plummeted this week after weaker-than-expected employment data raised the odds of the Federal Reserve cutting interest rates next month. It’s a big step in the right direction for America’s notoriously unaffordable housing market. The standard 30-year fixed-rate mortgage averaged 6.47% this week, mortgage financing giant Freddie Mac said Thursday. That’s down substantially from last week’s average of 6.73% and marks the lowest level since May 2023. This week’s drop was the biggest since late December. Mortgage rates have steadily fallen over the past several weeks since reaching a 2024 peak of 7.22% in early May. Rates are…

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Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Thousands of anti-racism demonstrators turned out in towns and cities across England on Wednesday night in response to a rumoured wave of far-right disorder that ultimately failed to materialise.Huge rallies in Liverpool, Brighton, Bristol, Newcastle and London mobilised in the early evening to defend a list of locations thought to be targets for violence, including refugee charities and immigration lawyers. But despite fears that the evening would mirror the country’s preceding days of racist attacks and civil unrest, anti-racism protesters were met with…