In a recent story, we examined how homeownership has changed since the days of the 2000s housing bubble, its bursting, and the ensuing Great Recession. As September 2022 dawns, it has been almost 15 years since the beginning of the Great Recession. According to the National Bureau of Economic Research (NBER), the Great Recession started
Month: August 2022
Michael Bloomberg, (right) founder of Bloomberg LP, and Lloyd Blankfein, chairman and CEO of Goldman Sachs Group, at the 10,000 Small Businesses (1OKSB) Partnership Event in London on Dec. 14, 2016. Chris Ratcliffe | Bloomberg | Getty Images Be like Mike … Bloomberg, that is. That’s what many Americans apparently aspire to today. Some 44%
The logo of Swedish payment provider Klarna. Thomas Trutschel | Photothek | Getty Images Klarna on Wednesday reported a dramatic jump in losses in the first half, adding to a deluge of negative news for the “buy now, pay later” pioneer. The Swedish payments firm generated revenues of 9.1 billion Swedish krona ($950 million) in
Reuters Check out the companies making headlines in midday trading. Bed Bath & Beyond — Shares of the beleaguered retailer tumbled 19.8% after it outlined a strategic plan that only confirmed investor fears that the company will struggle to turn around its business. Bed Bath also filed to sell an undisclosed amount of stock in
If there’s one thing Kevin O’Leary has learned from more than three decades as an investor, it’s that not every bet pays off. On ABC’s “Shark Tank,” O’Leary has invested more than $8.5 million in roughly 40 companies since the show debuted in 2009, according to an estimate from Sharkalytics. The longtime investor and chairman
zimmytws | iStock | Getty Images As the November midterm elections approach, leaders on both sides of the aisle are trading barbs on one key program that affects millions of Americans: Social Security. Over the weekend, President Joe Biden called out certain lawmakers on Twitter, including Republican Sens. Rick Scott of Florida and Ron Johnson
When Congress passed the Inflation Reduction Act, it secured funding for a myriad of projects, from green energy to potential reduction in prescription prices and increased tax rates on certain corporations. It also allotted an additional $80 billion to the Internal Revenue Service (IRS) over the next 10 years, including $45.6 billion for enforcement of
The IRS gets a piece of most lawsuit recoveries, but how taxes play out on this one might surprise you. A Los Angeles jury found LA County liable for negligence and invasion of privacy, awarding Kobe Bryant’s widow $16 million and $15 million to Chris Chester, whose wife and daughter Peyton were also killed. The
A collection of fine art photography by internationally acclaimed artist and musician Julian Lennon will be on display and for sale at the opening celebration of The Heritage – A Legacy Show Home, located in the gated Heritage Dunes community in scenic Seagrove Beach, Florida. The opening night soiree for Lennon’s photography will take place
British farmers have warned that the country’s hot and dry conditions will inevitably lead to smaller harvests this year. Planet One Images | Universal Images Group | Getty Images In a typical year, Rodger Hobson can expect to produce around 35,000 tons of carrots on his 880-acre farm in Yorkshire in northern England. But 2022
Russia’s Gazprom saw its shares surge on Wednesday after reporting bumper first-half profits and announcing a new dividend to shareholders. Stoyan Vassev | Press service of Gazprom Neft | via Reuters Russian gas giant Gazprom posted a record first-half profit and promised new dividends to shareholders, sending its shares soaring more than 27% in early
Chinese President Xi Jinping is widely expected to further consolidate his power at a twice-a-decade congress this fall. He is pictured here on July 1, 2022, at a swearing-in ceremony for Hong Kong’s chief executive John Lee. Bloomberg | Bloomberg | Getty Images BEIJING — China’s leaders are set to convene in Beijing on Oct.
Luis Alvarez | Digitalvision | Getty Images Employer demand for workers remains historically strong — and that means workers have the power to negotiate for better pay, benefits and other aspects of their jobs, according to economists. There were more than 11.2 million job openings in July, an increase of 199,000 from June, according to
The median net worth of retirees aged 65-74 was only $266,000 in 2019, of which $240,000 was in their homes. All indications are that in the last few years, the problem has gotten worse. Bottom line, at least half of all retirees today live in fear of having to live on meager social security benefits.
Today’s Social Security column addresses questions about whether the earnings test can a spouse’s benefit, changing benefit payment dates and a foreign pension’s potential effect on benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. See more Ask Larry answers here. Have Social
The days of frenzied sales with waived inspections might be behind us as buyers regain a bit of bargaining power. According to a new Realtor.com survey, 92% of people who sold their home within the last year accepted some buyer-friendly terms and 41% accepted some contingencies to entice buyers into signing contracts. Additionally, among those
In this article NKLA NKLA LCID Electric vehicle start-up Lucid on Sept. 28, 2021 said production of its first cars for customers has started at its factory in in Casa Grande, Arizona. Lucid Electric vehicle makers Lucid Group and Nikola are moving to raise additional funds, as both companies aim to boost production amid sharply
In this article GS Pavlo Gonchar | LightRocket | Getty Images Goldman Sachs said Tuesday it will lift all its Covid-19 requirements in most offices beginning Sept. 6, in response to new guidance from federal health officials. According to a memo sent Tuesday and obtained by CNBC, the bank said will no longer require its
Tero Vesalainen | Istock | Getty Images The U.S. Department of Education on Tuesday announced it will cancel all remaining federal student debt for former students of the now-defunct for-profit Westwood College, delivering $1.5 billion in relief to 79,000 borrowers. The cancellation covers students who attended any location of Westwood College, including online programs, from
“It will be enough for us to start talking realistically about purchasing a home,” said Dara Zucker, 28, of student loan forgiveness. Zucker and her fiancé have been looking for a house in Tampa, Florida. They budgeted $250,000 for a 1,400-square foot home, but between the unpredictable housing market and her $38,877 student loan balance,
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