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Policy
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Yuheng Zhan
09 May 2024, 02:54
An escalating cold war between US and China would be a blow to global growth, IMF official says
The IMF predicts that the global economy could incur costs equivalent to as much as 7% of the world's GDP in the worst-case scenario
Matt Drange
09 May 2024, 00:23
Former students say a California school district 'ignored and concealed' sexual abuse
Lawsuit accuses administrators at a Southern California high school of tolerating educator sexual abuse and failing to protect students.
Jennifer Sor
08 May 2024, 23:39
China is in the middle of its own retirement crisis as many older people cannot afford to stop working
China is expecting 300 million people to reach retirement age in the next 10 years, close to the size of the whole US population.
Filip De Mott
08 May 2024, 22:05
Bankruptcies are spiking as companies lose hope of rate cuts
April notched the highest number of bankruptcies in a year as businesses give up on a quick Fed pivot, S&P Global reported.
Thibault Spirlet
08 May 2024, 21:44
Businesses add $90 billion in surprise 'junk fees' each year, and it's starting to backfire
Businesses add more than $90 billion a year in "junk fees" to bills, per the White House Council of Economic Advisers. Consumers are pushing back.
Ayelet Sheffey
08 May 2024, 21:43
Key student-debt relief programs are at risk if Congress doesn't boost Education Department funding, 25 Democratic lawmakers say
Following a botched FAFSA rollout and rocky return to student-loan repayment, Elizabeth Warren is calling for more cash for Federal Student Aid.
Madison Hoff
08 May 2024, 20:58
Millennial vs. boomer budgets: How spending has changed for young adults in the last 30 years
Young adults are spending less on alcohol, beef, and mortgage interest and more on fresh produce, rent, and healthcare.
Eliza Relman
08 May 2024, 17:45
The US needs immigrants to fill jobs, but can't house them. Nowhere makes this more clear than New York City.
As the US handles an uptick in asylum-seekers, pressure is mounting to solve the housing crisis.
Allie Kelly
08 May 2024, 17:45
A Gen Xer struggles to afford housing and groceries, but her income is about $100 too high to get help
Melinda Binkley, 56, has tried to apply for safety net programs before but she's told her household makes too much money, usually by less than $100.
Huileng Tan
08 May 2024, 16:58
The US dollar is so strong that China's central bank, among others, just keeps loading up on gold
Not just China, but other central banks including Turkey and India are loading up on gold, amid a stronger US dollar.
Shubhangi Goel
08 May 2024, 14:13
If it feels like NYC is richer, you're right. One in every 24 residents is a millionaire.
The ranking may be further proof that New York is increasingly becoming a place for only the wealthy, as the cost of living in the city skyrockets.
Thibault Spirlet
08 May 2024, 10:43
A US soldier detained in Russia on theft charges was visiting a girlfriend there, officials say
Staff Sergeant Gordon Black was visiting a woman he was romantically involved with when he was detained on theft charges, US officials told NBC News.
Jacob Shamsian
08 May 2024, 10:18
Trump's Mar-a-Lago document trial has been delayed again. He now has a chance to dodge it entirely.
The judge previously set a May 2024 trial date, but it has long been clear the lawyers wouldn't be ready to bring the case to a jury by then.
Filip De Mott
08 May 2024, 10:11
A 'proper' economic downturn is looming, which could trigger steep rate cuts as soon as this year, economist says
"We believe we are heading into a proper downturn that will require a proper easing cycle," Manulife's chief economist Frances Donald said.
Yuheng Zhan
08 May 2024, 10:09
Interest rates still might not be high enough to quell inflation, Minneapolis Fed president says
Housing inflation prompts questions about how restrictive monetary policy actually is, Minneapolis Fed President Neel Kashkari said Tuesday.
Yuheng Zhan
08 May 2024, 09:35
A soft landing will be tough to achieve, and inflation has hit lower-income Americans hard, Citi CEO Jane Fraser says
"It's hard to get a soft landing," Citi's CEO Jane Fraser told CNBC on Monday. "We're hopeful, but it is always hard to get one."
Mikhaila Friel
08 May 2024, 09:32
Inflation-hit Germans are demanding a legal cap on the price of a doner kebab. They're not joking.
German Chancellor Olaf Scholz said he is asked by young people about the price of a donor kebab "everywhere I go."
Jennifer Sor
08 May 2024, 09:32
US inflation will soar if America doesn't undergo reindustrialization, investment manager says
The US has a "massive" trade deficit at a time when world trade is becoming fragmented, Richard Bernstein said.
Thibault Spirlet
08 May 2024, 09:29
A man charged with killing his hospitalized wife told police he couldn't afford her medical bills
Ronnie Wiggs reportedly told police he killed his wife while she was in the hospital because he couldn't afford her medical bills.
Yuheng Zhan
08 May 2024, 09:28
A recession in early 2025 could send the stock market tumbling 30%, strategist says
A recession in late 2024 or early 2025 could send the S&P 500 tumbling to around 3,600, BCA's Roukaya Ibrahim said.
Theron Mohamed
08 May 2024, 09:27
Google is co-funding a guaranteed basic income trial that gives families $12,000 a year to help keep them housed
Google's philanthropic arm is co-funding a $2.8 million guaranteed income pilot aimed at reducing homelessness in and around San Francisco.
Allie Kelly
08 May 2024, 09:23
This college town is experimenting with giving low-income entrepreneurs and gig workers $12,672, no strings attached
A guaranteed basic-income program in Ann Arbor is giving small business owners $528 a month, no strings attached.
Jacob Zinkula,Noah Sheidlower
08 May 2024, 09:22
As high-paying jobs become harder to get, more Americans are looking to Uber and Lyft for extra income
Gig work like ride-hailing is becoming more popular, per a Bank of America report. A cooling job market could be the reason.
Jacob Zinkula
08 May 2024, 09:21
A Florida Gen Xer who earned over $300,000 secretly working multiple remote jobs shares why he's 'far from rich'
A Gen Xer in Florida says making over $300,000 didn't make him feel rich.
Huileng Tan
08 May 2024, 09:19
China's footprint in global supply chains will grow no matter who wins the US presidential election: analysts
A research group doesn't expect either Biden's or Trump's trade policies to reduce China's role in global production networks significantly.
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