Business news

• LARRY KUDLOW: Democrats sure know how to lose an election

  12-04-2024 23:46 via foxbusiness.com
  
  There he goes again, again and again. Just this morning, President Biden announced another $7.4 billion in student debt bailouts for 277,000 borrowers. This comes to $153 billion in proposed student debt cancelations that would cover 4.3 million people. Of course… the Supreme Court ruled that Mr. Biden does not have the authority to cancel student loans, in a 6–3 decision entitled Biden v. Nebraska. That specifically struck down use of the so-called 9/11-related HEROES Act for
  
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• How much will taxpayers foot for Biden's student loan handouts? A half-trillion, UPenn's Wharton School says

  12-04-2024 23:35 via foxbusiness.com
  
  The White House announced another student loan handout on Friday, bringing the total number of borrowers who have received President Biden’s debt relief so far to 4.3 million. According to the White House, the total student loan cancellation sum is a whopping $153 billion."Today, my Administration is canceling student debt for 277,000 more people, bringing the total number of Americans who have been approved for debt relief so far under my Administration to 4.3 million borrowers through va
  
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• Stocks tumble as inflation jumps, JPMorgan CEO Dimon's warning and Masters fever

  12-04-2024 22:56 via foxbusiness.com
  
  -Inflation heats up, putting the Federal Reserve in limbo -JPMorgan CEO Jamie Dimon delivers warning on two big economic risks -Stocks hit with broad selloff in inflation and Fed jitters -Former President Donald Trump's Truth Social stock battered -Rite Aid shuttering more stores -Masters fever sweeps the world as golf elites hit the green -Tax Day is Monday LIVE PRICES FOR CRYPTOCURRENCIES: HERERED HOT: Inflation is showing no signs of cooling after the Consum
  
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• US national debt tracker for April 12, 2024: See what American taxpayers (you) owe in real time

  12-04-2024 22:29 via foxbusiness.com
  
  The U.S. national debt is climbing at an astronomical pace and has shown no signs of slowing down despite the heightened scrutiny on government spending.The national debt — which measures what the U.S. owes its creditors — increased to $34,550,836,614,631.68 as of Thursday afternoon, according to the latest numbers published by the Treasury Department. That is down about $10 billion from the $34,561,015,516,956.28 figure reported the previous day.By comparison, just four decades ago,
  
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• US consumer sentiment falls more than expected as inflation fears rise

  12-04-2024 21:46 via foxbusiness.com
  
  U.S. consumer sentiment and Americans' view on the economy both fell more than expected in April, as inflation expectations rose.The University of Michigan's consumer sentiment index released Friday fell to 77.9, down from 79.4 in March. Economists polled by LSEG had expected a reading of 79.American households are turning more pessimistic as higher prices for everyday items take their toll. The latest University of Michigan read on consumer sentiment for April fell to 79.3 after coming in
  
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• What is Tax Day? Everything you need to do about the deadline to file your taxes

  12-04-2024 21:42 via foxbusiness.com
  
  Tax Day is quickly nearing, meaning the clock is winding down for Americans to file their returns. You can file your taxes electronically or by mail. Submitting electronically will make for the faster receipt of a refund and is the quickest way to get your information filed to the Internal Revenue Service (IRS). If you do file by mail, make sure your envelope is postmarked by the due date. Make sure you have all your documentation together and submit it before the filing deadline to av
  
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• 4 weird ways you’re spending unnecessarily in your home without even realizing

  12-04-2024 21:42 via foxbusiness.com
  
  You work hard for the money you earn. Don’t let it be spent wastefully.If you’re trying to save a dime, there are ways to do so, starting right at home with simple changes.Look out for these four ways you could be wasting money in your home without even realizing it.10 THINGS YOU CAN DO RIGHT NOW TO FINANCIALLY PLAN FOR YOUR FUTUREThis is a point you’ve probably heard time and time again, but it's an important one.The average household in the United States wastes a whopping $1,
  
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• St. Louis downtown trapped in 'doom loop,' marred by empty offices, break-ins and store closings: Report

  12-04-2024 21:10 via foxbusiness.com
  
  The once bustling downtown of St. Louis, Missouri, is now stuck in a "doom loop," marred by a score of empty office buildings, thieves and retail closures, according to a new report.The Wall Street Journal on Tuesday published a story on the "real estate nightmare" and detailed stories of boarded-up properties and occasional raids by police and firefighters searching for squatters and missing people."It's a very dangerous place," St. Louis Fire Department Chief Dennis Jenkerson told the paper.Du
  
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• California McDonald's franchisee shares struggle with 'unprecedented' impact of new minimum wage

  12-04-2024 19:54 via foxbusiness.com
  
  California is forcing fast food chains to get creative to afford the state's new $20 minimum wage. One McDonald's franchise owner, Scott Rodrick, is considering higher menu prices and reduced hours, saying that layoffs are the "last thing" he is considering. "The last 12 days since this unprecedented law impacted franchisees in California has literally been a whirlwind. Frankly, it feels like an eternity," Rodrick said during an appearance on "Varney & Co."MCDONALD'S CEO SAYS FAST
  
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• Billionaire CEOs join White House state dinner for Japan prime minister

  12-04-2024 19:46 via foxbusiness.com
  
  President Biden and first lady Jill Biden welcomed Japan's prime minister, Fumio Kishida, to the White House on Wednesday for a combined official visit and state dinner to celebrate the alliance between the two countries. "This visit also reflects the upward trajectory of the U.S.-Japan Alliance as it evolves into a global partnership that promotes a shared vision of progress and prosperity for the future. The two leaders’ ambitious efforts span the depth and breadth of the Alliance t
  
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• Credit card delinquency rates hit worst level since 2012 in new Fed data

  12-04-2024 19:35 via foxbusiness.com
  
  Americans are drowning in credit card debt. New data published by the Federal Reserve Bank of Philadelphia shows that a growing number of Americans are struggling to make their monthly credit card payments as they continue to battle high inflation and interest rates.All stages of credit card delinquency — 30, 60 and 90 days past due — rose during the fourth quarter of 2023 to the highest level since 2012, when the Fed began tracking the data. The researchers noted that it is typ
  
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• Anxiety is biggest concern among employees seeking mental health services, study finds: ‘Major concern’

  12-04-2024 19:27 via foxbusiness.com
  
  Workplace anxiety has apparently reached a new high.Last year, nearly a quarter of people who sought mental health treatment through their employers cited anxiety as their main issue, according to a study by ComPsych Corporation, a mental health services provider based in Chicago.The researchers analyzed more than 300,000 U.S. cases that ComPsych handled in 2023.JOB CHALLENGE: SO YOU'RE OVERWHELMED AT WORK. HERE ARE STEPS TO TAKEAmong employees’ mental health issues, cases of anxiety outnu
  
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• 1 in 3 Americans maxing out credit cards because of inflation: survey

  12-04-2024 19:11 via foxbusiness.com
  
  Economic hardship is causing more people to rely on credit to cover living expenses, and some have even maxed out their credit cards to deal with inflation and rising prices, according to a recent survey.Credit card balances surged past the trillion dollar mark in the fourth quarter of 2023. The increase in credit card debt signals that many Americans are struggling to pay for basic needs. Roughly 45% of Americans said that inflation and rising prices are why they've relied so heavily on cr
  
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• CEOs looking to counter burnout with shorter workweeks

  12-04-2024 18:01 via foxbusiness.com
  
  As the U.S. continues to grapple with an ongoing labor shortage, the workers still on the job are left picking up the slack — and it is stressing them out.Employers say they are making efforts to ease the burden, and new data shows a significant chunk of leaders at big companies are now considering a shorter workweek as a solution.KPMG's annual U.S. CEO Outlook report shows 30% of CEOs at major firms are considering getting creative with the workers' shifts in an aim to combat employee bur
  
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• US drug shortages hit all-time high, pharmacists warn

  12-04-2024 17:07 via foxbusiness.com
  
  Drug shortages in the U.S. are at an all-time high, and some of the medications in short supply are life-saving chemotherapy drugs and emergency medications stored in hospitals, pharmacists warn. The American Society of Health-System Pharmacists (ASHP) and Utah Drug Information Service reported that there were 323 active drug shortages in the first quarter of the year, marking the most shortages since they have been tracking the data since 2001.It surpassed the previous record of 320 shorta
  
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• Home sales and prices edging up as housing market 'could get interesting,' reports say

  12-04-2024 15:56 via cbc.ca
  
  Royal LePage is forecasting that the aggregate price of a home in Canada will increase 9 per cent in the fourth quarter of 2024, compared to the same period last year. At the same time, CREA said home sales activity edged up 0.5 per cent between February and March.
  
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• Despite backlash, some Loblaw stores still discount perishable food by 30% — not 50%

  12-04-2024 10:00 via cbc.ca
  
  Loblaw announcing in January it would bring back 50 per cent discounts on perishable food, but some Real Canadian Superstore customers still feel shortchanged. That’s because the Loblaw-owned chain will continue to discount all food nearing its best-before date by 30 per cent.
  
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