68% of millennials and Gen Zers have received or expect to receive an inheritance of nearly $320,000

A massive wealth transfer is currently underway. “It has begun, and it’s only going to accelerate,” said Liz Koehler, head of advisor engagement at BlackRock’s wealth advisory division. Baby boomers are expected to pass on more than $68 trillion to their children. However, some millennials and Gen Z

Elon Musk has said: We will never reach Mars if Kamala wins

Elon Musk has said: We will never reach Mars if Kamala wins. A successful mission to Mars may hinge on the outcome of the U.S. presidential election in October, according to SpaceX CEO and prominent Republican supporter Elon Musk. "Trump supports a government efficiency commission to allow great

PricewaterhouseCoopers's US unit is laying off about 1,800 workers

PricewaterhouseCoopers (PwC) is laying off about 1,800 employees in its U.S. unit, marking its first formal layoffs since 2009, as part of a restructuring of its products and technology group. The goal is to simplify operations and respond to decreasing demand for certain advisory services. The cuts, affecting

Trump "less inclined" to do another debate with Harris

Kamala Harris' campaign wasted no time after the first debate between her and former President Donald Trump on Tuesday, immediately calling for a second showdown, although Trump seemed unenthusiastic about a rematch. "Under the bright lights, the American people saw the choice they'll face this fall:

Restaurant chain BurgerFi files for Chapter 11 bankruptcy protection

BurgerFi filed for Chapter 11 bankruptcy protection on Tuesday, following a recent warning to investors that it had “substantial doubt” about its ability to continue operating. The company is the latest in a string of restaurant chains, including Red Lobster and Buca di Beppo, that have turned to bankruptcy as

The Federal Reserve’s Raphael Bostic, according to the Fed IG, violated the Fed’s trading rules and acted on confidential information, creating a conflict of interest

Atlanta Federal Reserve President Raphael Bostic violated U.S. central bank policies regarding trading and investments, according to the Fed's internal watchdog, although it noted he did not trade using confidential information. The report from the Office of Inspector General (OIG) stated that Bostic's actions created

Australia says it will ban minors from using social media, considering a minimum age of 14

Australia is considering a potential ban on children using social media as part of government plans to set an age limit for platforms like Instagram and TikTok. This move would place Australia among the first nations to enforce such restrictions, aimed at addressing mental and physical health issues associated with

Donald Trump and Kamala Harris debate

Republican presidential nominee Donald Trump and Democratic nominee Vice President Kamala Harris faced off in a high-stakes, prime-time debate that could significantly impact the outcome of an unprecedented race for the White House. The 90-minute debate, hosted by ABC News, kicked off at 9 p.m. ET

Zillow, Z, CEO says job applications have quadrupled since going remote-first

Zillow, $Z, CEO says job applications have quadrupled since going remote-first. While Seattle, where Zillow's headquarters are located, remains a “fantastic” place for both the company and its CEO, Zillow’s flexible work model has significantly expanded its talent pool, with employees now located in all 50

The IRS has collected $1.3 billion from high wealth tax dodgers since last fall

The IRS announced Friday that it has recovered $1.3 billion in unpaid taxes from wealthy Americans who either failed to file their tax returns or didn’t fully pay what they owed. This joint announcement with the U.S. Treasury Department highlights the agency’s increased enforcement against tax

Donald Trump says his plans to slash regulations will get mortgage rates 'back down' to 3%

Donald Trump introduced a range of new economic plans on Thursday, including the establishment of a government efficiency commission that he claimed Elon Musk has agreed to lead if Trump wins the upcoming election. "At Elon Musk's suggestion, who has given me his full endorsement, I will

Canva says its new AI features justify raising subscription prices by 300%

Canva Teams, promoted as the platform’s "all-in-one solution" to solve design bottlenecks, tech inefficiencies, and collaboration challenges, is seeing its first price increase since its 2020 launch—some by as much as 300%. The Teams plan, which allows multiple users to collaborate on a design

10% of men aged 25-54 don't have a job and aren't looking for one, more than triple the percentage recorded in 1955, when just 3% were out of the workforce

10% of men aged 25-54 don't have a job and aren't looking for one, more than triple the percentage recorded in 1955, when just 3% were out of the workforce In its 2024 Modern Wealth Survey, Charles Schwab revealed that Americans, on average, believe it

Donald Trump pledges '100% tariff' for countries that shun the US dollar

Donald Trump vowed on Saturday to make it prohibitively expensive for countries to move away from the US dollar, adding another element to his tariff-focused agenda. “If you abandon the dollar, you won’t be doing business with the United States because we’ll impose a 100% tariff on

75% of mortgage holders in the US have a rate below 5%, per Bloomberg

Mortgage rates generally follow the movements of Treasury yields, which have been decreasing in anticipation of the Federal Reserve cutting interest rates as early as September. Minutes from the Fed's July meeting revealed that several officials believed there was a case for lowering rates, with Chair Jerome Powell

75% of mortgage holders in the US have a rate below 5%

This is because 91.8% of U.S. homeowners with mortgages are paying interest rates below 6%, having secured low-cost financing before rates surged in mid-2022. The percentage of homeowners with a mortgage rate under 6% is just shy of the record 92.9% set in mid-2022.

Las Vegas Strip casinos won $709.3 million from gamblers in July

The gaming regulatory board said July gaming win slowed to $1.306 billion, with the Las Vegas Strip most responsible for the downward movement. Gaming win on the Strip plunged 15% to result in the first statewide GGR year-over-year monthly decline in four months. The approximately $1.3

Household spending per person in Canada is falling at a pace only previously seen during recessions

Household spending per person in Canada is dropping at a rate typically seen only during recessions. After adjusting for inflation, spending fell by 1.3% in the second quarter compared to the previous year. Since the 1960s, faster declines have only occurred four times—during the recessions of 1982, 1991,

Mortgage refinance demand is 94% higher than a year ago, as interest rates fall again

Mortgage demand is now largely focused on refinancing, as interest rates have declined for the fifth consecutive week. Total mortgage application volume increased by just 1.6% last week compared to the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average interest rate for 30-

Donald Trump to introduce a government efficiency commission recommended by Elon Musk

Republican presidential candidate Donald Trump announced on Thursday that if he wins the November 5 election, he plans to create a government efficiency commission led by billionaire Elon Musk. According to sources familiar with Trump’s discussions, this idea has been in the works for weeks, but Thursday's

Donald Trump is set to propose 15% corporate tax rate for companies that make products in the USA

Former President Donald Trump is set to present his economic vision on Thursday to a group of economists, making the case that lifting regulations and boosting fossil fuel production can help reduce prices in a possible second term. Speaking to the Economic Club of New York, this follows his appearance

Vladimir Putin said Russia will support US Vice President Kamala Harris in November’s presidential election because she’s been endorsed by President Joe Biden

Vladimir Putin has expressed that Russia supports Vice President Kamala Harris in the upcoming U.S. presidential election over former President Donald Trump. Speaking at the Eastern Economic Forum in Vladivostok on Thursday, Putin mentioned that Russia's initial "favorite" was President Joe Biden before he withdrew

The SEC is ending its legal push to revive the Hedge Fund Fee Disclosure Rule, thus ending its fight for more transparency into hedge funds and private equity firms

Private equity fee disclosures have faced a setback in SEC Chair Gary Gensler’s efforts to push for greater transparency. The SEC chose not to meet a Tuesday deadline to request the Supreme Court to reinstate new disclosure rules for the private funds industry, according to a source familiar with

Republican Donald Trump’s economic proposals would allegedly increase federal deficits by almost five times more over the next decade than those of Democratic nominee Vice President Kamala Harris

Former President Donald Trump's economic proposals would increase federal deficits by $5.8 trillion over the next decade, nearly five times more than Vice President Kamala Harris's plans, which would add $1.2 trillion, according to two new studies from the nonpartisan Penn Wharton Budget Model.

Peloton’s, PTON, former billionaire CEO says he’s lost all his money and had to sell his possessions after PTON's stock collapse

Peloton was one of the hottest stocks during the pandemic, but as COVID-19 concerns faded, so did the company's fortune. Its former billionaire CEO, John Foley, said his wealth was wiped out as a result. “At one point, I had a lot of money on paper,” Foley,