The Federal Reserve has increased the rate on loans to banks issued through its Bank Term Funding Program (BTFP), an emergency lending initiative launched last year. The move comes as borrowing under the program surged recently, with institutions taking advantage of favorable financing terms. The BTFP, introduced during the regional

Houthis in Yemen have claimed to have directly hit a US ship, per AP. Yemen's Houthi group claimed responsibility for targeting an American warship in the Gulf of Aden and the Bab al-Mandab strait, as stated in a video release by the group's spokesperson. The Houthi

Jon Stewart will return to "The Daily Show" as its executive producer and host on Monday evenings through the 2024 election cycle, per Axios. Jon Stewart, who hosted The Daily Show for 16 years before stepping down in 2015, is set to make a return to the program

U.S. mortgage demand jumps 10% as rates fall across the board, per MW. A decline in rates has fueled increased demand for home buying and refinancing, as indicated by the Mortgage Bankers Association (MBA). The overall market composite index, serving as a gauge for mortgage application volume, witnessed a

Renting a three-bedroom home is cheaper than owning one in 90% of the U.S., per ATTOM. Meanwhile, areas where owning is more affordable than renting include Riverside County, Calif., and Detroit. A recent report from Attom, examining the cost of renting versus owning three-bedroom homes across various U.S.

Coinbase, $COIN, said buying cryptocurrency on an exchange was more like collecting Beanie Babies than investing in a stock or bond, per Bloomberg. Coinbase has presented arguments for the dismissal of a Securities and Exchange Commission (SEC) lawsuit alleging the sale of unregistered securities. William Savitt, a Coinbase lawyer, asserted

Blackstone’s, $BX, defaulted NYC office tower loan up for sale at a 50% discount. The $308 million mortgage tied to a Manhattan office tower owned by Blackstone Inc. is once again on the market following the private equity giant's default on the debt over a year ago.

Netflix, $NFLX, is to taking away its cheapest ad-free plan, the Basic Netflix subscription that costs $11.99, per the Verge. Netflix has ceased allowing new or returning members to enroll in the ad-free Basic subscription, which was priced at $11.99 per month. While unveiling its latest earnings results,

Alaska Airlines CEO: We found 'many' loose bolts on our Boeing, $BA, Max 9s following near-disaster, per NBC. In an exclusive interview with Tom Costello, senior correspondent at NBC News, Alaska Airlines CEO Ben Minicucci expressed his frustration and disappointment over the findings from the company's

JPMorgan, $JPM, raises CEO Dimon's pay 4.3% to $36 million for 2023, per Bloomberg. Jamie Dimon, the CEO of JPMorgan Chase, saw a 4.3% increase in his compensation for 2023, reaching $36 million, as disclosed by the bank on Thursday. This rise follows his $34.5

About 14% of all commercial real estate loans and 44% of loans on office buildings appear to be in “negative equity,” meaning the debt is now greater than the property value, per the NAR. The US national office vacancy rate is at an all time at 19.6%, per Moody&

Billions of dollars of debt will fall due this year on hundreds of big US office buildings that their owners are likely to struggle to refinance at current interest rates, per FT. The US national office vacancy rate is at an all time at 19.6%, per Moody's.

60% surveyed say they're now "triggered" by trips to the grocery store due to inflation, per Axios. A pound of ground beef now costs $5.23 on average, up from $3.89 in January 2020, and prices for fresh fruits and vegetables are nearly 14% higher,

45% of real estate agents claim they're struggling to pay rent in November, per Alignable. The latest data reveals a 5% increase in pending home sales from October, marking a 10% rise compared to September. The study, involving realtors, indicates that the persistently high interest rates, with the

The gross national debt of the federal government has now surpassed $34 trillion, reaching a record high and signaling future challenges for America's fiscal health. The U.S. Treasury Department released a report on Tuesday, highlighting the nation's financial situation amid political divisions in Washington, raising

China's population has declined for second year running, per AP. China's population decline has accelerated, marking a second consecutive year of record-low birth rates. The National Bureau of Statistics reported that China's total population decreased by 2.75 million, or 0.2%, reaching 1.

The U.S. Federal Reserve will wait until the second quarter before cutting interest rates, per Reuters. Read full article: https://www.reuters.com/markets/us/fed-cut-q2-probably-june-economists-less-dovish-than-markets-2024-01-23/#:~:text=BENGALURU%2C%20Jan%2023%20(Reuters),year%20than%20markets%20now%20expect. A majority of economists surveyed by Reuters anticipate that the U.

Apple, $AAPL, to release car with set date 2028, no longer 2026, per Bloomberg. Since its initiation in 2015, Project Titan, Apple's venture into the electric car domain, has encountered multiple setbacks and faced consistent changes in leadership. Initially aspiring to create a fully autonomous vehicle without a

Europe buying Russian oil via India at record rates in 2023 despite Ukraine war, per the Independent. Indian refiners are likely selling record quantities of Russian crude to Europe, according to a recent analysis. In recent years, India has emerged as one of Russia's major oil customers, with

Prices of motor-vehicle insurance rose 20.3% in December from a year earlier, the biggest jump since 1976, per Bloomberg. U.S. car owners are unlikely to find relief from the escalating costs of maintaining a vehicle, as motor-vehicle insurance prices surged by 20.3% in December compared to the

The Fed has to start cutting rates to avoid tipping the economy over, and 8 cuts are coming in the next 2 years, Bank of America, $BAC, chief Brian Moynihan has said per BI. Bank of America CEO Brian Moynihan has suggested that the Federal Reserve might reduce interest rates

A California restaurant operator of FatBurger is preparing for the $20-an-hour fast-food wage by trimming hours, eliminating employee vacation, and raising menu prices, per BI. Meanwhile, McDonald’s, $MCD, and Chipotle are increasing menu prices after California raises fast-food minimum wage, per CNBC. McDonald’s and Chipotle Mexican Grill are