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[CNN Business] American Express customers clearly didn’t leave home without their credit cards when they went shopping this holiday season. The company said Tuesday that revenue in the fourth quarter soared 30% from a year ago, thanks in large part to record spending by its members. Investors were pleased. Shares […]
[Business Insider, Getty] Stock markets tumbled last week on fears about rising interest rates and inflation. The tech-heavy Nasdaq index fell 8% last week and is down 13% this year. The world’s five richest tech tycoons have collectively lost about $85 billion in 2022. The world’s five richest tech tycoons […]
[Moneywise] Rising prices and uncertainty about how long they’ll last are putting Americans in a bad mood. Inflation was worse than expected in November, with consumer prices soaring 6.8% from a year ago. That inflation rate was the steepest in more than 30 years, with gasoline, housing, food and cars […]
[CNBC, Getty Images] A record-high 4.4 million people, or 3% of workers, quit their job in September, according to the Labor Department’s latest Job Openings and Labor Turnover Survey released Friday. The tight market, where workers have more leverage to move around and employers are doing everything they can to staff up, is […]
[CNBC, Getty Images] The 4% rule, a popular strategy to gauge withdrawals from one’s retirement portfolio, won’t work as well in coming decades due to lower projected stock and bond returns, according to a Morningstar paper published Thursday. The withdrawal rate should instead be 3.3%, the paper said. That can […]
[Business Insider, Leung/Insider Intelligence] My parents don’t understand why I don’t own a house, a car, or a retirement savings account. My generation has fewer job opportunities, more student debt, and outrageous housing prices. It’s far worse for us than it was for previous generations. Ingrid Cruz is a freelance […]
[CNBC, iStock | Getty Images] Months after the national ban on evictions expired, a number of states and cities have either kept in place or implemented policies curbing the proceedings. Here’s where renters are still protected. Months after the national ban on evictions expired, a number of states and cities […]
[CNBC] Billionaire hedge fund manager Bill Ackman called for the Fed to raise interest rates and start cutting its monthly asset purchases immediately. “We are continuing to dance while the music is playing, and it is time to turn down the music and settle down,” he said in a tweet. […]
New York(CNN Business) This summer, the American economic recovery hit a roadblock. The US economy grew at an annualized rate of only 2% in the third quarter, the Bureau of Economic Analysis reported Thursday. The highly infectious Delta variant of the coronavirus, supply chain chaos, worker shortages, sluggish jobs numbers and higher prices weighed on economic activity. It was far lower than the […]
[Bankrate, Getty Images] The U.S. housing market is on an absolute tear. Month after month, prices break new records. Sellers are ecstatic. While buyers can revel in mortgage rates near all-time lows, that’s about the only upside to shopping for property in this market. If you’re considering buying a home now, the soaring prices […]