Cost of Living Big Banks Bosses Defend Savings Rates and Branch Closures
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Pfizer beats revenue estimates, raises profit outlook on cost cuts and smaller-than-feared drop in Covid drug sales
The pharmaceutical giant's quarterly results also benefited from a smaller-than-feared drop in sales for its Covid antiviral pill Paxlovid.CNBC - Business - Covid -
‘It blew our budget by a massive amount’: four couples break down their wedding costs
The average cost of a wedding in 2023 was $35,000 in the US and £20,700 in the UK – how are people spending that money?. Weddings are expensive. That much we know.. The average cost of a wedding in the US in 2023 was $35,000, according to industry ...The Guardian - World -
Black Entrepreneurs, Frustrated by High Rates, Look to the Election
In the battleground state of Georgia, some Black entrepreneurs are frustrated over the impact of higher interest rates, a source of economic anxiety.The New York Times - Top stories -
German unemployed rate remains at 6% in April
Yahoo News - World - Germany -
Black Entrepreneurs, Frustrated by High Rates, Look to the Election
In the battleground state of Georgia, some Black entrepreneurs are frustrated over the impact of higher interest rates, a source of economic anxiety.The New York Times - Business -
New Zealand's Jobless Rate Rises Sharply
New Zealand’s unemployment rate jumped sharply in the first three months of this year as the economy slumbered in an extended recession and high interest rates battered household budgets.The Wall Street Journal - World - New Zealand -
House prices fall as lenders raise mortgage rates
The Nationwide says the average cost of a home was down 4% on the peak seen in the summer of 2022.BBC News - Top stories - Mortgage -
Companies Trim Debt, Faced With High Rates
The current high interest rates have pushed up the cost of borrowing for most companies, forcing them to tackle their debts, analysts said.The Wall Street Journal - World -
What to Watch for at Today’s Fed Meeting on Interest Rates
Policymakers are expected to leave borrowing costs unchanged, but investors are bracing for signals that rates will stay higher for longer.The New York Times - Top stories - Federal Reserve -
The Fed's Case for Rate Cuts Simply Does not Exist
Every new data dump proves inflation isn't going anywhere fast.Inc. - Business -
TD Bank Sets Aside $450 Million for Possible U.S. Anti-Money Laundering Penalties
Canada’s second-largest bank by market capitalization said the provision is related to talks with one U.S. regulator.The Wall Street Journal - World -
HSBC Chief Executive Noel Quinnunexpectedly said he would retire, leaving the bank without a clear successor.
HSBC Chief Executive Noel Quinn unexpectedly said he would retire, leaving the bank without a clear successor.The Wall Street Journal - World -
Honeybees Don’t Need Saving, I Learned When They Invaded My House
Responding to fears of a “honeybee collapse,” 30 states have passed laws to protect the pollinators. But when they invaded my house, I learned that the honeybees didn’t need saving.The New York Times - Top stories -
Cyberattack on UnitedHealth firm forces doctors to dig into personal savings to stay afloat
Many doctors have been left without a way to get paid for their services.CNBC - Business -
How to save for retirement if your company doesn't offer a 401(k)
Not every employer offers a 401(k) retirement account, but there are suitable alternatives.CNBC - Business -
WATCH: Barbers save girl from being hit by cars
Two Connecticut barbers stopped in the middle of giving haircuts to rush out of their shop and rescue a girl running toward the middle of a busy intersection.ABC News - Top stories -
How much will the 2p National Insurance cut save me?
A further 2p cut in National Insurance for 27 million workers has come into effect.BBC News - Top stories -
Honeybees Don’t Need Saving, I Learned When They Invaded My House
Responding to fears of a “honeybee collapse,” 30 states have passed laws to protect the pollinators. But when they invaded my house, I learned that the honeybees didn’t need saving.The New York Times - Business -
He's got moxie: How Tyrese Maxey saved the Sixers' season
Maxey rescued Philly from a 6-point deficit in the final 30 seconds and stunned the Knicks and the Madison Square Garden crowd, forcing a Game 6.Yahoo Sports - Sports -
Is Big Tech's Spending Stifling AI Startups Innovations?
Critics say technology giants' multibillion-dollar spending on AI infrastructure makes it hard for startups to compete.Inc. - Business -
Democrats release report on big oil probe
Welcome to The Hill's Energy & Environment newsletter {beacon} Energy & Environment Energy & Environment The Big Story Democrats release report on big oil probe According to a report from a yearslong investigation by House Democrats, major oil ...The Hill - Politics -
CVS Made a Big Bet on Medicare. It's Looking Risky.
The company’s Medicare business, hit by higher medical costs, pushed down CVS’s first-quarter earnings.The Wall Street Journal - World -
BP Bets Big, Again, On the Gulf of Mexico
While rivals bank on big new plays in Guyana and Namibia, the new BP CEO is focused on heartland waters off the coast of Louisiana and Texas.The Wall Street Journal - World - Mexico -
New Series I bond rate drops to 4.28%, but your rate could be much less if you bought at the peak
The fixed rate holds at 1.3% on new purchases for the next six months, but the inflation-adjusted rate is slightly lower than six months ago.MarketWatch - Business -
Demand for riskier adjustable-rate mortgages hits highest level of the year, due to rising rates
The share of ARM applications rose to 7.8% of mortgage demand last week, according to the Mortgage Bankers Association. That is the highest level of the year.CNBC - Business -
Adjustable-rate mortgage demand surges to highest level this year as 30-year rate keeps climbing
Mortgage applications fell 2.3% in the last week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 7.29%.MarketWatch - Business -
'I lived in hospital for 50 years but wasn’t ill'
Charles Esler spent more than 50 years living behind locked doors in hospital despite not being acutely unwell.BBC News - Top stories -
High Fed Rates Are Not Crushing Growth. Wealthier People Help Explain Why.
High rates usually pull down asset prices and hurt the housing market. Those channels are muted now, possibly making policy slower to work.The New York Times - Business - Federal Reserve -
2024 NFL Draft TV ratings down despite strong 1st round
Viewership was still better than what the NFL Draft drew two years ago.Yahoo Sports - Sports - NFL -
Gilt Yields Rise Ahead of U.S. Fed Rate Decision
Gilt yields climbed ahead of the Federal Reserve interest-rate decision, when the central bank could signal that interest-rate cuts will likely come later than previously expected.The Wall Street Journal - World - Federal Reserve -
What to Watch as the Fed Makes Its Interest Rate Decision
Policymakers are expected to leave borrowing costs unchanged, but investors are bracing for signals that rates will stay higher for longer.The New York Times - Business - Federal Reserve -
The Fed rate decision meeting is today. Here are the odds of a cut.
Inflation-weary consumers have also been slammed by high borrowing costs. Here's what economists expect the Fed to announce.CBS News - Top stories - Federal Reserve -
Fed expected to hold interests rates steady at highest level since 2001
The U.S. economy has faced a months-long stretch of stubborn inflation.ABC News - Top stories - Federal Reserve -
S&P 500 Futures Fall as Interest-Rate Decision Looms
U.S. stock futures edged lower ahead of Federal Reserve decision on interest rates.The Wall Street Journal - World -
Beating inflation will likely require an increase in the U.S. unemployment rate
Americans are on a frustrating search for a soft economic landing.MarketWatch - Business -
Bayern Munich 2-2 Real Madrid: Vinicius scores twice, Kane once in razor-thin first leg
It's games and clubs like these that make the Champions League, the Champions League.Yahoo Sports - Sports -
McDonald's and other big brands warn that low-income consumers are starting to crack
Higher prices have weighed on customers in an array of industries that interact with consumers.CNBC - Business -
Friends From the Old Neighborhood Turn Rivals in Big Tech’s A.I. Race
Demis Hassabis and Mustafa Suleyman, who both grew up in London, feared a corporate rush to build artificial intelligence. Now they’re driving that competition at Google and Microsoft.The New York Times - Tech -
In Race to Build A.I., Tech Plans a Big Plumbing Upgrade
The spending that the industry’s giants expect artificial intelligence to require is starting to come into focus — and it is jarringly large.The New York Times - Tech -
‘To the Future’: Saudi Arabia Spends Big to Become an A.I. Superpower
The oil-rich kingdom is plowing money into glitzy events, computing power and artificial intelligence research, putting it in the middle of an escalating U.S.-China struggle for technological influence.The New York Times - Tech