Financial News
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Business and Economy
Stunning Job Growth Defies Expectations as US Adds 353,000 Jobs in January
The US economy stunned forecasters by adding 353,000 jobs in January 2024, according to the Bureau of Labor Statistics’ latest employment report. This robust hiring shatters predictions of just 180,000 new positions and highlights the continued strength in the nation’s job market. The unemployment rate remained low at 3.7%, close to a 50-year record low. For the first time since…
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Business and Economy
$56 Billion Could Potentially Cost Elon Musk Richest Person Title
Concord, CA – A Delaware judge’s recent decision to void Elon Musk’s massive $56 billion compensation package from Tesla has sent shockwaves through the business world, with huge implications for the billionaire entrepreneur’s net worth and status as the world’s richest person. Chancellor Kathaleen McCormick ruled this week that the 2018 pay package – the largest ever awarded by a…
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Personal Finance
How to Practice Loud Budgeting: The Viral Financial Trend
Loud budgeting is the latest viral trend encouraging financial transparency and open communication about money management. The practice of loudly and proudly budgeting is gaining popularity, especially among Gen Z and millennials facing economic challenges. What is Loud Budgeting? Loud budgeting means being vocal and honest about your financial situation, budget limitations, and spending habits. It promotes openly communicating when…
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Business and Economy
Elon Musk’s $55 Billion Pay Package Rejected by Judge
Fremont, CA – In a stunning blow to Tesla, a Delaware judge has torpedoed CEO Elon Musk’s controversial $55.8 billion compensation package, ruling it invalid and “unfair” in a historic first-of-its-kind decision. This seismic ruling vaporizes the lucrative payday Musk hoped to reap from the ambitious package and thrusts the electric vehicle maker into chaos as it scrambles to determine…
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Market Trends and Innovations
Will Federal Employees Get a 7.4% Pay Raise in 2025?
The question of what the 2025 federal pay raise will be has entered the spotlight early this year. A bill introduced in Congress proposes raising federal salaries by 7.4% in 2025. This Federal Adjustment of Income Rates (FAIR) Act aims to close the growing gap between federal and private sector pay. But will this ambitious plan come to fruition? The…
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Market Trends and Innovations
Obama’s Former Pentagon Chief Ripped Biden’s Foreign Policy Judgement in Memoir
In the wake of a deadly attack on a U.S. military outpost in Jordan that took the lives of three American soldiers, former Obama Defense Secretary Robert Gates’ past criticism of President Biden’s flawed foreign policy decisions has come under renewed scrutiny. Former Obama Defense Secretary’s Scathing Biden Foreign Policy Criticism Resurfaces After Tragic Military Attack Gates, who served as…
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Market Trends and Innovations
China’s Debt Crisis Deepens As Evergrande Ordered Into Liquidation. The real estate giant owes over $300 billion
Hong Kong’s High Court has ordered the liquidation of China Evergrande Group, once the country’s top-selling property developer, after its failure to restructure over $300 billion in debts, plunging China further into economic uncertainty. Judge Linda Chan stated on Monday that Evergrande’s inability to put forward a viable proposal to repay creditors alongside its insolvency left her no choice but…
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Market Trends and Innovations
Fed Nears Inflection Point as Inflation Shows Further Cooling
The Federal Reserve moved one step closer to potentially easing its aggressive interest rate hiking campaign, as new data on Friday showed inflation continuing to drift back towards the central bank’s 2% target. The Commerce Department’s personal consumption expenditures (PCE) price index, the Fed’s preferred inflation gauge, rose just 0.2% in December from the prior month and 2.6% from a…
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Market Trends and Innovations
Macy’s Rejects $5.8 Billion Buyout Bid From Investors Despite Struggles
Macy’s announced on Sunday that its board rejected a $5.8 billion take-private buyout bid from an investor group led by Arkhouse Management and Brigade Capital Management. The retailer cited a “lack of compelling value” and also raised financing concerns over the $21 per share offer. The bid by Arkhouse and Brigade represented a 32% premium over Macy’s stock price in…
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Market Trends and Innovations
Dow Closes Above 38,000 for First Time Ever as Stocks Hit Record Highs
New York – The Dow Jones Industrial Average crossed the 38,000 mark for the first time ever on Monday, as the stock market’s rally to start 2024 continued with major indexes hitting fresh record highs. The Dow closed up 138 points, or 0.4%, finishing at an unprecedented 38,001.81. The blue-chip index’s milestone close comes amid a banner year so far…
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