The U.S. Department of Education recently announced the new interest rates on federal student loans, and the news was not favorable for parents. Direct PLUS loans for parents will come with a 9.08% interest rate for the 2024-2025 academic year, which is the highest rate in over 30 years. This increase, noted by higher education
Recently, the United Auto Workers (UAW) suffered a significant setback in their union organizing efforts at the Mercedes-Benz plant in Alabama. The National Labor Relations Board announced that the workers at the plant had voted against union representation, with 56% of the vote going against the UAW. Implications of the Loss This defeat is a
On Friday, U.S. stocks remained relatively flat, following a session where the Dow surpassed the 40,000 mark for the first time. While the Nasdaq Composite and S&P 500 reached intraday records on Thursday, they experienced a slight decline by the end of the day. Jim Cramer described the current market as “muted,” highlighting the lack
Chinese authorities have recently announced new measures to support state-owned enterprises (SOEs) in buying unsold apartments, marking Beijing’s latest efforts to address issues in the massive real estate sector. This move is aimed at helping developers secure more funding to complete construction on pre-sold properties. People’s Bank of China Deputy Governor Tao Ling revealed that
Richemont, a Swiss luxury group, saw its shares surge by 6.3% after reporting record full-year sales. Despite a weakening outlook for luxury brands, the company’s group sales rose by 3% to reach a new high of 20.6 billion euros. This impressive growth was a beacon of hope in an uncertain market, leading to a positive
China recently reported data indicating a slowdown in consumer growth, with retail sales rising by 2.3% in April from a year ago. This figure fell short of the 3.8% increase forecasted by a Reuters poll and was slower than the 3.1% pace reported in March. On the industrial side, industrial production rose by 6.7% in
Walmart recently announced that it has exceeded quarterly earnings and revenue expectations, showcasing significant progress in key areas such as e-commerce and newer ventures like advertising. This positive financial performance has also been attributed to the retailer’s increasing appeal to high-income shoppers and its focus on providing convenience to customers. Chief Financial Officer John David
Inflation is currently a concern for policymakers in the US, but there are certain sectors in the economy where deflation is the prevailing trend. Deflation refers to a scenario where prices are decreasing for consumers, as opposed to inflation which measures the rate at which costs are increasing for goods and services. In the wake
The Dow Jones Industrial Average recently hit a historic milestone, crossing the 40,000 mark. This achievement comes at a time when investors are optimistic about the potential of artificial intelligence to drive corporate profits and speculate on the Federal Reserve’s possible rate cuts. It’s a significant moment that was unimaginable just a year ago. Let’s
Siemens, a leading German technology company, recently announced a decrease in profit for its industrial business during the fiscal second quarter. The company’s industrial profit fell to 2.51 billion euro, a 2% decline compared to the same period last year. This drop was unexpected as analysts had forecasted a higher profit of 2.68 billion euro.