Author: Press Room
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…
‘Where are these abortions being carried out?’: Tapper presses Abbott after he claims Harris supports abortion near birth CNN’s Jake Tapper talked to Texas Republican Gov. Abbott about a new study on the state’s abortion policies. Read the full article here
Are you a pre-retiree or retiree who’s nervous about the recent stock market volatility? Worried that it might be the start of a stock market crash, as predicted recently by a few pundits? Unfortunately, “worry” is not a strategy! Instead, you’ll want to plan ahead to survive stock market crashes without knowing when they’ll happen, since experts and personal investors alike generally have a poor track record for predicting when the market will crash. Keep in mind that during a long retirement, it’s inevitable that you’ll experience a few stock market crashes. Let’s look at four strategies that can give…
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 6.625% as of July 16, which is unchanged from yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 5.875%, which is also unchanged from yesterday. With mortgage rates changing daily, it’s a good idea to check today’s rate before applying…
Warner Bros. Discovery’s stock dropped on Wednesday after it reported a $9.1 billion write down on its TV networks and missed analyst estimates on revenue.Here is how Warner Bros. Discovery performed:Loss per share: $4.07. That may not compare with the 22 cent loss expected by analysts surveyed by LSEG Revenue: $9.07 billion vs. $10.071 billion expectedThe company’s shares were down roughly 7% in aftermarket trading.This is breaking news. Please check back for updates. Read the full article here
JPMorgan Chase CEO Jamie Dimon said Wednesday he still believes that the odds of a “soft landing” for the U.S. economy are around 35% to 40%, making recession the most likely scenario in his mind.When asked by CNBC’s Leslie Picker if he had changed his view from earlier this year that markets were too optimistic on recession risks, Dimon said the odds were “about the same” as his earlier call.”There’s a lot of uncertainty out there,” Dimon said. “I’ve always pointed to geopolitics, housing, the deficits, the spending, the quantitative tightening, the elections, all these things cause some consternation in…
