Financial related news.
WASHINGTON — With prices across the economy — from food, gas and rent to cars, airfares and hotel rooms — soaring at their fastest pace in decades, you might think Americans would tap the brakes on spending. Not so far. Consumers as a whole are showing surprising resilience, not only sustaining their spending, but increasing [...]
SALT LAKE CITY — Some red state officials are coming out swinging against Wall Street's growing efforts to consider factors such as long-term environmental risk in investment decisions, the latest indication that the GOP is willing to damage its relationship with big business to score culture war points. Many are targeting a concept known as [...]
NEW YORK — The bears are rumbling toward Wall Street. The stock market's skid this year has pulled the S&P 500 close to what's known as a bear market. Rising interest rates, high inflation, the war in Ukraine and a slowdown in China's economy have caused investors to reconsider the prices they're willing to pay [...]
WASHINGTON — Jeff Bezos last weekend became the latest centibillionaire to launch a political fight on Twitter by denouncing a tweet from President Joe Biden about corporate taxes as "disinformation" and "misdirection." The White House quickly retorted that Bezos "opposes an economic agenda for the middle class." And then Bezos fired back, arguing that the [...]
SANTA FE, N.M. (AP) — Government budgets are booming in New Mexico: Teacher salaries are up, residents can go to an in-state college tuition-free, moms will get medical care for a year after childbirth, and criminal justice initiatives are being funded to reduce urban violence. The reason behind the spending spree — oil. New Mexico [...]
Of the three generations that make up the largest segment of the nation’s workforce, millennials are most confident they are in a position to protect their finances and investments should another crisis occur, an annual Nationwide Retirement Institute study found. More than half of the millennials participating in the seventh annual Advisor Authority Survey said [...]
SACRAMENTO, Calif. — California, which would have the world's fifth-largest economy if it was a country, last week became the first state to formally begin examining how to broadly adapt to cryptocurrency and related innovations, following a path laid out by President Joe Biden in March. Gov. Gavin Newsom signed an executive order for state [...]
WASHINGTON — Inflation is at a 40-year high. Stock prices are sinking. The Federal Reserve is making borrowing much costlier. And the economy actually shrank in the first three months of this year. Is the United States at risk of enduring another recession, just two years after emerging from the last one? For now, even [...]
WASHINGTON — Record-low mortgages below 3 percent are long gone. Credit card rates will likely rise. So will the cost of an auto loan. Savers may finally receive a yield high enough to top inflation. The substantial half-point hike in its benchmark short-term rate that the Federal Reserve announced Wednesday won't, by itself, have much [...]
Bank mergers and acquisitions happen regularly and can lead to streamlined services and better offerings for consumers, but they can also sometimes create challenges like less access to branches or customer service difficulties. If your bank is merging or being acquired, it will probably try to make the transition process of moving your account as [...]