Don’t expect the same raise you got last year

Don’t expect the same raise you got last year, per Bloomberg. Companies are tightening their budgets for merit raises in the coming year, which may come as a surprise to employees who have seen two consecutive years of pay increases. According to Aon Plc, a company that compiles compensation

Gen Zers are looking to live in simpler, quiet locations in the Midwest or mountain regions

Gen Zers are looking to live in simpler, quiet locations in the Midwest or mountain regions, per BI. The most recent data from StorageCafe and LendingTree reveals that the youngest generation of adults is increasingly gravitating toward the Great Plains and the Mountain West in search of more affordable living

Mortgage rates in the US fell for the first time in eight weeks

Mortgage rates in the US fell for the first time in eight weeks, per Bloomberg. This week saw a slight drop in the average rate for the benchmark 30-year mortgage, ending a seven-week trend of increases. This provides some modest relief to potential homebuyers who are facing a housing market

The Federal Trade Commission has said Amazon, $AMZN, deliberately raised prices by more than $1 billion through secret algorithms known as "Project Nessie"

The Federal Trade Commission has said Amazon, $AMZN, deliberately raised prices by more than $1 billion through secret algorithms known as "Project Nessie." Amazon employed various illicit tactics to enhance profits in its online retail empire, as revealed in a new court filing by the Federal Trade Commission

IRS has announced 2024 retirement account contribution limits: $23,000 for 401(k) plans, $7,000 for IRAs

IRS has announced 2024 retirement account contribution limits: $23,000 for 401(k) plans, $7,000 for IRAs. In 2024, the maximum employee contribution limit for 401(k) plans will rise to $23,000, compared to $22,500 in 2023. However, the catch-up contributions for individuals aged 50 and older

McDonald’s, $MCD, and Chipotle are increasing menu prices after California raises fast-food minimum wage

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 preparing to raise menu prices in California in response to the state's upcoming minimum wage increase for fast-food workers. The wage will be raised

The Fed has once again paused rate hikes

The Fed has once again paused rate hikes. The Federal Reserve once again decided to keep benchmark interest rates unchanged during its recent meeting, against the backdrop of a growing economy and a strong labor market, while inflation remains notably higher than the central bank's target. As widely

The SafeMoon Founders have been arrested over conspiracy to commit wire fraud and money laundering

The SafeMoon Founders have been arrested over conspiracy to commit wire fraud and money laundering, per the US Attorney's Office for the Eastern District of New York. The Securities and Exchange Commission (SEC) filed a complaint on Wednesday against SafeMoon LLC, the company behind the cryptocurrency, along with

Schwab, $SCHW, is laying off up to 2,154 people out of 35,900 staff

Schwab, $SCHW, is laying off up to 2,154 people out of 35,900 staff. Charles Schwab Corp. has reduced its workforce by 5% to 6%, affecting around 1,795 to 2,154 employees out of its total headcount of 35,900. This move is part of the company'

12% of Generation Z said they believe they will never be able to own a home

12% of Generation Z said they believe they will never be able to own a home, per Redfin. Home buyers are backing out of deals at the highest rate in a year, per BI. In September, there was a significant increase of 16.6% in monthly pending home sales falling

Sam Bankman-Fried and FTX paid Steph Curry $35 million for 20 hours of work a year, for three years

Sam Bankman-Fried and FTX paid Steph Curry $35 million for 20 hours of work a year, for three years, per Michael Lewis. Sam Bankman-Fried, the embattled cryptocurrency magnate currently facing federal trial for fraud and money laundering charges, paid NFL legend Tom Brady a staggering $55 million for what can

The housing market is headed back to a 1980s-style recession, Wells Fargo WFC has said

The housing market is headed back to a 1980s-style recession, Wells Fargo, $WFC, has said. In spite of the persistent warnings and predictions of a recession from various economists and experts in the past year and the current one, the U.S. economy as a whole has demonstrated remarkable resilience.

Homes are now 44% more expensive than they were prior to the pandemic

Homes are now 44% more expensive than they were prior to the pandemic, per Redfin. New homeowners won’t see a profit for over a decade, per Axios. “Mortgage rates will not go back to 3% – we’ll be lucky if we get back to 5,” per NAR chief economist

Sam Bankman-Fried aspired to become president of the United States

Sam Bankman-Fried aspired to become president of the United States, Caroline Ellison said. Sam Bankman-Fried, the embattled cryptocurrency magnate currently facing federal trial for fraud and money laundering charges, paid NFL legend Tom Brady a staggering $55 million for what can only be described as minimal work conducted over a

1.8 million Americans lost their millionaire status in 2022

1.8 million Americans lost their millionaire status in 2022, according to UBS' 2023 Global Wealth Survey. In the previous year, over 3.5 million individuals saw their "dollar millionaire" status erode, marking the first global wealth decline since the 2008 financial crisis. The UBS annual wealth

Elon Musk has said: A large number of people are living paycheck-to-paycheck and with a lot of debt

Elon Musk has said: A large number of people are living paycheck-to-paycheck and with a lot of debt. They've got credit card debt, mortgage debt. How detached from reality does the work-from-home crowd have to be while they take advantage of those who cannot work from home, ELon

New homeowners won’t see a profit for over a decade

New homeowners won’t see a profit for over a decade, per Axios. “Mortgage rates will not go back to 3% – we’ll be lucky if we get back to 5,” per NAR chief economist Lawrence Yun. The qualifying yearly income for a median-priced house in 2020 was $49,680.

Loneliness and inflation are pushing Gen Z away from dating

Loneliness and inflation are pushing Gen Z away from dating, per BI. In a recent analysis of data provided by the Bank of England, Bloomberg discovered a surge in inflation expectations among the youth of the United Kingdom. This is noteworthy as historically, the younger demographic held lower inflation expectations

Home buyers are backing out of deals at the highest rate in a year

Home buyers are backing out of deals at the highest rate in a year, per BI. In September, there was a significant increase of 16.6% in monthly pending home sales falling out of a contract, marking the highest rate since October 2022 when mortgage rates surged past 7%. Buyers

House GOP unveils $14.3 billion Israel aid bill that would cut funding to IRS

House GOP unveils $14.3 billion Israel aid bill that would cut funding to IRS, per CBS. On Monday, House GOP unveiled a standalone bill with a price tag of $14.3 billion, aiming to fund assistance for Israel by reducing an equivalent amount of funding allocated to the Internal

Tech billionaire Peter Thiel was an FBI informant

Tech billionaire Peter Thiel was an FBI informant, per BI. Business Insider, a major U.S. business publication and subsidiary of the German publisher Axel Springer SE, has reported that Peter Thiel, a U.S. billionaire, venture capitalist, and co-founder of PayPal, may have been an FBI informant. According to

The National Association of Realtors and the HomeServices of America have been found guilty of colluding to inflate or maintain high commission rates

The National Association of Realtors and the HomeServices of America have been found guilty of colluding to inflate or maintain high commission rates, and have been ordered to pay damages of $1.78 billion. A Kansas City jury has rendered a verdict in the Sitzer/Burnett buyer broker commission lawsuit,

Americans spent money at the fastest rate in nearly two years last quarter

Americans spent money at the fastest rate in nearly two years last quarter, per Bloomberg. A recent stream of data from the U.S. government has illuminated a clear trend: Consumer spending is surging and propelling strong economic growth. This resilience has confounded economists, Federal Reserve officials, and even the

Minnesotans are the least stressed out people in America

Minnesotans are the least stressed out people in America, per CNBC. The 10 least stressed out states in America, per CNBC. 1. Minnesota 2. Utah 3. New Hampshire 4. South Dakota 5. Massachusetts 6. Iowa 7. New Jersey 8. Connecticut 9. North Dakota 10. Virginia In a separate WalletHub study

X, formerly Twitter, is now valued at $19 billion, per Fortune

X, formerly Twitter, is now valued at $19 billion, per Fortune. This down about 55% from the $44 billion that Elon Musk paid to buy the firm a year ago, according to internal documents seen by The New York Times. Musk paid $54.20 a share to buy Twitter just