We need to raise rates aggressively: Fed’s Neel Kashkari
February 7, 2023Minneapolis Federal Reserve President Neel Kashkari said on Tuesday that the central bank has not achieved enough progress to control inflation. He believes the Fed’s benchmark rate should rise to 5.4% from its current range of 4.5%-4.7%. “We need to...
Google to test ChatGPT’s rival “Bard”: Human future with AIs, crawling into economies
February 7, 2023Google is stepping up its efforts to compete with Microsoft-backed OpenAI’s ChatGPT by launching its own AI conversation technology, Bard. Google CEO Sundar Pichai on Monday informed employees of the company’s plan to test its new ChatGPT rival, Bard. The...
Adani controversy triggers protests, arrests, and parliament disruptions in India
February 6, 2023The crisis surrounding the Adani group has intensified on Monday, leading to arrests and protests in India. Members of the country’s main opposition party were detained by police during demonstrations, and parliament was suspended due to disruptions. A Jan. 24...
Rise in Car Payment: Struggles Among Americans Reaches Post-Great Recession High
February 5, 2023Latest reports suggest that there is a significant increase in the number of Americans struggling to make their car payments, the highest since the Great Recession. This is largely due to the high cost of both new and used cars,...
Youngest Working Generation “Gen Z” Leads in Retirement Savings
February 5, 2023A recent survey by TransAmerica Center for Retirement Studies revealed that 67% of workers aged 18-25 already have retirement accounts totaling $33,000. Gen Z, the youngest generation of workers, are setting a strong foundation for their retirement with an average...
Rising U.S. credit card debt reaches record high of $930.6 billion: How to mitigate its impact?
February 4, 2023Americans’ credit card debt rose 18.5% to $930.6 billion, a record high, in 2022, according to a report by TransUnion. This is due to rising interest rates, which have already reached nearly 20% on average, and the increasing costs of...
Navigating your debts in the age of interest rate hikes
February 4, 2023Debt is a common reality for many people, but interest rate hikes can make it even harder to manage. As interest rates rise, the cost of borrowing money increases, and this can have a significant impact on your financial situation....
Bank of England raises interest rates to highest level since 2008
February 2, 2023The Bank of England raised UK interest rates by half a percentage point on Thursday, increasing them to 4% – the highest level since 2008. This move was more aggressive than the US Federal Reserve’s quarter-percent rate hike the day...
Statewide Gun Insurance Requirement under Consideration by California Legislature
January 31, 2023Following San Jose, the California Senate considers a bill to mandate gun owners buy liability insurance for accidental or negligent gun discharge. SB 8 aims to shift the burden of compensation for gun violence harm onto gun owners. San Jose’s...
Court Ruling on Student Loan Forgiveness to Deepen Racial Wealth Gap
January 30, 2023A recent report by Brookings Institution reveals that black American students are disproportionately impacted by the country’s student loan crisis. Black graduates owe an average of $7,400 more than their white peers upon graduation. The gap widens with time, with...
Elon Musk Warns Fed: Another Rate Hike May Crush the Stock Market
January 29, 2023Tesla CEO Elon Musk warns that increasing Federal Reserve interest rates could lead to a “crush” in the stock market. During Tesla’s 4Q earnings call, Musk expressed his concern that the Fed’s interest rate may soon exceed the average return...
Tesla’s Stock Soars 33%, Marking Best Weekly Performance in 10 Years
January 29, 2023Tesla shares rose 33% this week, the best performance since 2013. On Friday, the stock closed at $177.88, up 11%. This rebound follows a 40% decline over the past six months and a 65% drop in 2022. The rally was...
How “inaccurate” was Biden’s Economic Speech on Thursday
January 28, 2023President Joe Biden’s speech on Thursday included several claims that were found to be false, misleading, or lacking context by CNN. Here are the wildest ones: Infrastructure projects: Biden claimed that “Last year, we funded 700,000 major construction projects –...
Rising Car Prices, Interest Rates Push Americans Behind on Payments
January 28, 2023As Americans struggle to keep up with rising car prices and interest rates, more are falling behind on their car payments. According to Fitch Ratings, the percentage of subprime auto borrowers who were at least 60 days late on their...
Adani-linked companies see more than $51 billion loss following short-seller report
January 27, 2023Including Adani's recent investments in cement companies ACC and Ambuja Cements, the Adani Group has lost a total of $51 billion in market value since Wednesday.
Court Cases Could Determine Fate of 16 Million Approved for Student Loan Relief
January 27, 2023The Biden administration has called out conservative states for blocking the President’s plan for student loan debt forgiveness. On Friday, administration officials shared that hundreds of thousands of borrowers in states challenging the plan were approved for relief before it...
Is the fear of recession no more?
January 27, 2023The US GDP finished the year 2022 with a positive growth rate of 2.9% in the fourth quarter. However, many experts and economists are concerned about the potential for a recession as interest rates continue to rise in an effort...
How ChatGPT is Changing the Game for Real Estate Agents
January 27, 2023Published Date – January 29, 02:05 AM ET ChatGPT, a large language model developed by OpenAI, is changing the way real estate agents do business. The model’s ability to understand and respond to natural language inputs is making it easier...
Japan’s Tokyo inflation rate reaches near 42-year high, pushes BoJ to ‘Act’
January 27, 2023The rise in the Tokyo core consumer price index (CPI) exceeded a median market forecast for a 4.2% gain and marked the fastest year-on-year increase since May 1981.
Toyota CEO Akio Toyoda to Resign, Koji Sato to Take Over
January 26, 2023Sato started his career at Toyota in 1992. He was appointed chief engineer of Lexus International and president of Lexus International and Gazoo Racing Company in 2016 and 2020, respectively. In 2021, he became Toyota's chief branding officer.
Implications of the BoC’s Recent Rate Hike on Mortgage Holders
January 26, 2023The Bank of Canada has raised its interest rate to 4.5%, marking the eighth hike in less than a year. This announcement is likely to cause stress for prospective homeowners and mortgage holders, as mortgage rates tend to move in...
Twitter and Ad Verification Firms Partner for analyzing ads, soliciting child pornography that appears alongside tweets
January 26, 2023Twitter and ad verification firms are partnering to provide advertisers with tweet-level analysis. Twitter, IAS, and DoubleVerify announced Wednesday they will collaborate to offer advertisers insight into content appearing alongside ads. IAS and DoubleVerify offer technology to verify ads are...
Dollar near eight-month low ahead of central bank meetings
January 26, 2023The U.S. dollar index, which measures the dollar against a basket of currencies, is at 101.53, close to last week's eight-month low of 101.51.
Amazon UK Workers Strike for the First Time
January 25, 2023Around 300 workers at an Amazon warehouse in Coventry participated in the labor action. This was after more than 98% of the employees voted in favor of the strike in December.
UK Parliament Seeks Financial Services Scrutiny Power
January 25, 2023UK’s financial regulators face more scrutiny over their policies for consumers and the economy from the Parliament. Under the proposals from members of the House of Lords, a new independent body could track progress against certain metrics, and elected officials...
Microsoft Investigating Disruptions to Teams and Outlook Service
January 25, 2023Microsoft Corp (MSFT.O) announced on Wednesday that it is investigating a networking issue that impacted multiple services including Teams and Outlook. The issue resulted in thousands of users globally reporting disruptions to the platforms. Microsoft did not disclose the number...
Two-thirds of Americans expect the housing market to crash in the next 3 years – a survey
January 25, 2023A new report by NerdWallet reveals that 67% of Americans believe a housing market crash is imminent within the next three years, despite unemployment remaining low and house prices rising at a slower pace. The annual home buyer report surveyed...
Tesla to hire 3,000 new workers to expand its Nevada Gigafactory
January 25, 2023Tesla has recently announced plans to expand its Nevada Gigafactory. The company said it will invest $3.6 billion and hire 3,000 additional workers to build two new factories at the facility. These factories will produce battery cells for Tesla’s light-duty...
Britain’s Royal family sues Twitter for not paying rent on its offices
January 24, 2023Britain’s Royal Family has sued against the social media giant Twitter over unpaid rent on the company’s London offices. The Crown Estate, an independent commercial business that manages the property portfolio belonging to the British monarch, filed a case in...
Investing in South Korean stocks to get easier for foreigners in 2023
January 24, 2023South Korea plans to scrap a number of regulations in the local stock market within this year to make investment easier for foreign investors, its financial regulator said on Tuesday, in an effort to bring in more money into the...
North Korean Hackers Steal $100M Worth Crypto from a US Firm
January 24, 2023The FBI’s announcement of North Korean groups’ involvement in the theft of $100 million from US crypto firm Harmony’s Horizon bridge is a reminder of the ongoing threat of state-sponsored hacking and cybercrime. These two groups, “the Lazarus Group” and...
Spotify lays off 600 employees globally, CEO takes full Responsibility
January 23, 2023On Monday, music streaming giant Spotify announced it will lay off 6% of its 9,800 global employees, or about 600 people, joining the ranks of the world’s tech giants in widespread layoffs. CEO Daniel Ek took full responsibility in a...
UK recession could be twice as bad as previously expected
January 23, 2023The UK economy is facing a deepening recession. Economists at consultancy EY are predicting that each of the next three years could be worse than they had previously expected. They anticipate a 0.7% contraction in gross domestic product (GDP) this...
Brazil and Argentina to discuss a common currency
January 23, 2023Brazil and Argentina aim for greater economic integration, including the development of a common currency, as stated in a joint article by Brazilian President Luiz Inacio Lula da Silva and Argentine leader Alberto Fernandez. The article, published on the Argentine...
Euro to reach nine-month high as ECB hawks let fly
January 23, 2023The Euro has been steadily gaining against the US dollar due to a more hawkish stance on interest rates from the European Central Bank (ECB). The Euro has reached $1.0870, nearing its nine-month peak of $1.08875. ECB governing council member,...
U.S. Retail Sales Take a Hit: Largest Drop in a Year
January 23, 2023In December, the US recorded a significant decline in retail sales, with a 1.1% decrease in sales, the highest drop since December 2021. The data indicates that this decline is due to lower purchases of motor vehicles and other goods,...
Rising Layoff Packages Fueling Increase in Social Media Downfall Indicator
January 22, 2023The recent announcements of massive layoff packages by major tech companies such as Google, Microsoft, Amazon, and Salesforce are pushing the social media downfall indicator upwards. The indicator, which measures the health and stability of social media companies, has been...
Ways to Handle Overconfidence to Prevent Poor Portfolio Performance
January 22, 2023Overconfidence in your investment knowledge may lead to poor portfolio performance. A recent report from FINRA shows that 2 in 3 investors rate their investment knowledge highly and 42% are comfortable making investment decisions. Younger investors were more likely to...
Growing number of Americans face potentially crippling credit-card debt
January 22, 2023A growing number of Americans are facing potentially crippling credit-card debt as interest rates reach historic highs. Multiple polls show American consumers sinking deeper into credit-card debt. A new survey from Bankrate found 46% of cardholders carrying credit-card balances from...
Use Debt to Build Wealth
January 22, 2023Debt has developed a bad reputation in recent years, but not all debt is bad. In fact, some types of debt, known as “good debt,” can be beneficial for building wealth and creating passive income streams. Good debt includes loans...
Japan’s PM keeps markets guessing on new BOJ governor
January 22, 2023Japanese Prime Minister Fumio Kishida has kept financial markets guessing on who will replace Haruhiko Kuroda as the next governor of the Bank of Japan. Kishida said that he will take the April economic situation into account when choosing the...
Elon Musk tweets that 2300 employees are working at Twitter
January 22, 2023Elon Musk, CEO of Twitter, tweeted on Saturday that the social media platform currently employs nearly 2300 employees across various roles and levels. This statement was in response to a report by CNBC that stated that Twitter had cut its...
Brazil’s Americanas on the way to file for bankruptcy
January 19, 2023Founded in 1929, Brazil's Americanas is an e-commerce company having various payment methods and mobile app for easy shopping.
Crypto’s latest recovery attempt ignites hope in investors
January 17, 2023Key Points: Bitcoin was trading above $21,000 in Asia on Tuesday morning, with total cryptocurrency market capitalization slightly surpassing the 1 trillion-dollar mark in the last 24 hours for the first time since mid-November. While Ether joined Polygon and Solana...
How can personal finance software help you manage your money?
January 16, 2023Personal finance software is a type of software program that helps individuals manage their financial accounts, budget their money, and track their expenses. It can be used to create a budget, track bank account balances, set financial goals, and monitor...
Fragmentation could cost global economy up to 7% of GDP: IMF
January 16, 2023The International Monetary Fund (IMF) has warned that a severe fragmentation of the global economy could result in a reduction of global economic output by up to 7%, with potential losses reaching as high as 8-12% in some countries, if...
Will there be a cost of living increase in 2023?
December 23, 2022Many factors, such as inflation, dollar strength, and unemployment rate will influence the cost of living. In 2022, grocery, housing, utilities, transportation, and miscellaneous costs all saw upward trends. While an increase is expected the coming year, the extent is...
Musk to step down as Twitter CEO once he finds a successor
December 21, 2022"I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams," - Elon Musk
How to use Twitter Blue for Business to Market
December 20, 2022Today, Twitter announced the launch of Twitter Blue for Business. It’s a new way for businesses and their affiliates to verify, distinguish and market themselves on Twitter. This means companies can not only verify their brand but also their associated...
Working for Elon Musk is a Nightmare
December 20, 2022Many may have found that working for billionaire Elon Musk is a nightmare. But Musk’s managerial image being reflected these days is slightly different. Although Musk is no longer the richest person in the world, his terrors still scare his...
