The U.S. budget deficit has hit $1.6 trillion in first 10 months of fiscal year, more than double what it was a year ago

The U.S. budget deficit has hit $1.6 trillion in first 10 months of fiscal year, more than double what it was a year ago. In April, the US federal government’s budget deficit hit $1.1 trillion in the first half of the fiscal year, a 63% jump

A new variant of COVID-19 dubbed EG.5 has become dominant in the US, according to the CDC

A new variant of COVID-19 dubbed EG.5 has become dominant in the U.S., according to the CDC. It is estimated that EG.5, an omicron subvariant, accounted for 17.3% of COVID cases in the U.S. in the two-week period through Aug. 5. Medical professionals have asserted

UFC President Dana White has held a meeting with the Italian government to discuss the Elon Musk vs Mark Zuckerberg fight, and making it happen at the Roman Colosseum

UFC President Dana White has held a meeting with the Italian government to discuss the Elon Musk vs Mark Zuckerberg fight, and making it happen at the Roman Colosseum. In June, it was announced Elon Musk and Mark Zuckerberg can reportedly fight at Colosseum, the Italian government has said. In

The Supreme Court has just blocked a $6 billion Purdue Pharma bankruptcy settlement that would protect the Sackler family from opioid-related civil claims

On Thursday, the Supreme Court halted Purdue Pharma's progress in its bankruptcy proceedings. The Biden administration had criticized this unusual arrangement, aimed at shielding the Sackler family from civil claims related to opioids. The court not only agreed to temporarily stop the settlement but also announced its intention

The average credit card debt in the US is $5,733 per person

The average credit card debt in the US is $5,733 per person, according to TransUnion. US credit card debt has now passed $1 trillion. Meanwhile, Gen X has the highest average credit card debt of any generation group, estimated to be $8,266, per Bloomberg. Gen Z had an

The average Manhattan rent just hit a new record of $5,588 a month

The average Manhattan rent just hit a new record of $5,588 a month. In over 20 years, the national average rent-to-income has reached its highest number ever at 30%. This means that out of a normal US citizen's income, 30% of it will go directly to rent.

Biden to ban US firms from investing in Chinese tech companies

The Biden administration has unveiled new regulations aimed at constraining US investments in advanced technology sectors within China, a move intended to safeguard national security during a period of heightened tensions with Beijing. These fresh regulations would impose limitations on investments made by US private equity and venture capital firms,

Full-time UPS drivers will make around $170,000 in annual pay and benefits by the end of the five year contract

The CEO of UPS has revealed that under a five-year contract recently reached with the Teamsters Union, drivers are projected to earn an average of $170,000 in compensation, including benefits like healthcare and pensions. This agreement successfully prevented a potential strike. The agreement, which is currently tentative, applies to

The price of groceries rose 4.7% on the year in June. The annual rate of inflation was 3%.

During June, grocery prices demonstrated stability following a slight uptick in May, which could bring some relief to consumers. Meanwhile, menu prices experienced a 0.4% increase, maintaining a mild upward trajectory over recent months. Collectively, food prices encountered a 0.1% rise for the month, as per the latest

Nearly 1 in 5 workers are 'loud quitting' their jobs, a new Gallup poll has said

Employees who feel disconnected from their organizations are now escalating their disengagement to a new level, a phenomenon being referred to as "loud quitting," as outlined in a recent Gallup report. In a comprehensive global survey encompassing more than 122,000 participants, Gallup discovered that 18% of employees

S&P Global, one of the largest independent credit rating firms in the world, has dropped ESG scores from its debt ratings

S&P Global has opted to discontinue the practice of assigning numerical scores to corporate borrowers based on their ESG (Environmental, Social, and Governance) criteria. This decision reflects a growing sense of uncertainty regarding the usefulness and relevance of such ratings. Until now, the debt rating agency had been

Biden has said: We have the lowest rate of inflation among the G7, down two thirds from its peak. Note: this is actually not true. According to a report released on July 4, 2023, Japan had the lowest inflation rate among the G7 countries

Here is the full OECD breakdown: Year-on-year inflation in the OECD, as measured by the Consumer Price Index (CPI), dropped to 6.5% in May 2023, down from 7.4% in April 2023 toreach its lowest level since December 2021 (Figures 1 and 3). Between April and May 2023, inflation

A ticket sold in Florida has won the $1.58 billion Mega Millions jackpot

In Florida, luck smiled upon an individual who clinched a massive $1.58 billion Mega Millions jackpot on Tuesday night, putting an end to a prolonged period of lottery disappointments that had persisted for almost four months. The winning combination drawn consisted of the numbers 13, 19, 20, 32, 33,

Financial demands of supporting a family of 4 have surpassed what a single salary can adequately provide

Financial demands of supporting a family of 4 have surpassed what a single salary can adequately provide, per FT. Getting rich isn’t the American Dream anymore, per CNBC, with 54% in a recent survey defining it as "feeling happy in life." Meanwhile, it was noted that only

If home prices decrease by 5%, more than 200,000 households could be at risk of falling into negative equity, essentially 'going underwater' on their home loans

If home prices decrease by 5%, more than 200,000 households could be at risk of falling into negative equity, essentially 'going underwater' on their home loans, per CoreLogic. A recent report from the National Association of Realtors and Realtor.com highlights the alarming state of the US

The U.S. government's debt will rise by $5.2 billion, every single day for the next decade

The U.S. government's debt will rise by $5.2 billion, every single day for the next decade. Drawing upon data sourced from the Congressional Budget Office, an autonomous federal agency, Harnett dissected the projection that government debt will ascend from its present $32.5 trillion mark to

EU to study blocking out sun

A report indicates that the European Union is considering the exploration of blocking sunlight as a potential strategy to address climate change. As reported by Bloomberg News, the European Union is expected to unveil a structured approach on Wednesday for evaluating potential security ramifications associated with climate change. This framework

The median sales price of a home in the US is now 560% of the median household income

The median sales price of a home in the US is now 560% of the median household income, per Gangespost. Meanwhile, A recent report from the National Association of Realtors and Realtor.com highlights the alarming state of the US housing market, where more than 75% of homes available are

Penn Nation, $PENN, to sell 100% of Barstool Sports back to David Portnoy

ESPN announced that it has partnered with Penn National to launch “ESPN BET.” Barstool founder Dave Portnoy then explained in a video that he has bought back the company from Penn. “I have purchased back Barstool Sports from Penn,” Portnoy said, adding that he once again owns 100 percent of

Mega Millions at $1.55 billion

You can choose a $1.55 billion over 29 annual payments, or a cash lump sum of approximately $752.2 million, per Reuters. There now have been 31 straight drawings without a jackpot winner. The last time someone won the Mega Millions jackpot was April 18. The $1.55 billion

US credit card debt has now passed $1 trillion

US credit card debt has now passed $1 trillion. Meanwhile, Gen X has the highest average credit card debt of any generation group, estimated to be $8,266, per Bloomberg. Gen Z had an average credit card debt of $2,781 in Q4 of 2022, marking a 5.90% jump

Hedge fund billionaire Dan Loeb has said: ‘Fundamental analysis is increasingly taking a back seat to monitoring daily option expiries and Reddit message boards’

Dan Loeb is mad at memestock sellers, per Bloomberg. The meme-driven crowd has, once again, resurfaced, propelling stocks upward and inflicting losses upon short sellers, reminiscent of the chaotic early days of the pandemic. Companies such as Tupperware Brands Corp., Nikola Corp., and Yellow Corp. have witnessed substantial surges, leaving

Pickleball injuries could be $400 million

A fresh hypothesis put forward by UBG Group AG, an investment banking firm, establishes a connection between escalating healthcare expenses and the harm suffered by elderly individuals engaging in pickleball games. According to UBS's disclosed findings to Bloomberg, the occurrences of pickleball-related injuries in 2023 have led to

Getting rich isn’t the American Dream anymore, per CNBC, with 54% in a recent survey defining it as "feeling happy in life"

Getting rich isn’t the American Dream anymore, per CNBC, with 54% in a recent survey defining it as "feeling happy in life." Meanwhile, it was noted that only 7% of Americans earned an annual $250,000, according to SmartAsset. However, their purchasing power depends on where they

Elon Musk said he will receive an MRI of his neck and upper back tomorrow and may require surgery

lon Musk said he will receive an MRI of his neck and upper back tomorrow and may require surgery, per Bloomberg.Elon Musk vs Mark Zuckerberg fight will be live-streamed on X. In June, it was announced Elon Musk and Mark Zuckerberg can reportedly fight at Colosseum, the Italian government