With just days until the midterm elections, getting a read on the U.S. economy can be elusive: The country remains a step ahead of a recession and the labor market is surprisingly strong, with most workers who want a job currently employed. Yet inflation remains at a 40-year-high, souring the …
Read More »U.S. economy returned to growth last quarter despite surging inflation
The U.S. economy grew at a 2.6% annual rate from July through September, the government said Thursday — a strong rebound after the nation’s gross domestic product shrank in the first two quarters of the year. The resurgence comes as consumers and businesses are grappling with searing inflation and as …
Read More »Mortgage rates have more than doubled over the last year — and could keep climbing
Average long-term U.S. mortgage rates inched up this week ahead of another expected rate increase by the Federal Reserve when it meets early next month. Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate ticked up this week to 6.94% from 6.92% last week. Last …
Read More »Biden’s student
President Biden’s plan to erase up to $20,000 in student loans will require millions of borrowers to fill out an application to receive approval, a step that will likely be available within days. The application will open in October, which will be a “short online application,” the Department of Education said on …
Read More »Investors yank $138 million from company planning merger with Trump’s Truth Social
Investors have pulled almost $140 million in commitments to a “blank-check” company planning a merger with the parent company of Donald Trump’s Truth Social forum, the latest stumbling block for the proposed deal. Digital World Acquisition Corp., a so-called special-purpose acquisition company, said in a regulatory filing on Friday that unnamed …
Read More »Financial regulators take aim at “buy now, pay later” loans
Millions of Americans have embraced the practice of buying small-ticket items and paying for them in installments, an increasingly popular model among retailers known as “buy now, pay later” loans. But many consumers are struggling with the “pay later” part of the equation. Although such loans can help consumers purchase goods …
Read More »Apple rolls out iPhone 14, AirPods and Watch at annual event
Apple unveiled updated versions of its popular iPhone, AirPods and watch on Wednesday at a highly anticipated event streamed from its Cupertino, California, headquarters. The Apple Watch Series 8, which starts at $400 or $500 with cellular service, comes with a larger screen and new health and safety features. Those …
Read More »Roomster posted fake reviews and apartment listings, lawsuit claims
The rental search website Roomster swindled customers out of millions of dollars by posting fake reviews and apartment listings which it charged users to view, a lawsuit from six states and the Federal Trade Commission alleges. The lawsuit, filed Tuesday in the Southern District of New York, accuses Roomster executives …
Read More »Ford slashing 3,000 white
Ford Motor Co. is cutting about 3,000 white-collar jobs as it attempts to lower costs and shift from internal combustion to electric vehicles. Leaders of the Dearborn, Michigan, automaker made the announcement Monday in a companywide email obtained by CBS News, saying that 2,000 full-time salaried workers would be let …
Read More »How to use AirTags and other tracking devices to find lost luggage
Airlines have lost so much luggage of passengers this summer that travel pros are advising people against checking any bags at all. Indeed, when you hand over your luggage to airline personnel, you run the risk of being separated from your belongings for the entirety of your trip — or longer. …
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