Americans' pandemic savings are gone. The pandemic savings cushions that helped Americans manage high prices in recent years have dwindled, leading to a reduction in consumer spending power that is affecting the economy. Delinquencies are rising, executives are expressing caution about shopper behavior in recent earnings calls, and retail

Nearly two in five (38%) U.S. renters don't believe they'll ever own a home, up from roughly one-quarter (27%) less than a year ago, per Redfin. Lack of affordability is the main reason many renters doubt they will become homeowners. Nearly half (44%) of renters

An increasing number of Americans are making emergency "hardship withdrawals" from their 401(k) plans to avoid eviction or foreclosure, according to new data from investment and retirement giant Vanguard. This trend raises concerns about the looming retirement crisis and questions the robustness of the current "economic

A majority of voters (67%) believe President Biden should step aside as the presumptive Democratic nominee, according to a new ABC News/Washington Post/Ipsos poll published Thursday. Why it matters: This is another survey indicating that most voters think Biden should withdraw following his performance in last month'

President Joe Biden announced a new $225 million aid package for Ukraine on Thursday, which includes a Patriot missile system to strengthen its air defenses against a deadly barrage of Russian airstrikes. Biden made the announcement during a meeting with Ukrainian President Volodymyr Zelenskyy, who called it “strong news” but

Tesla is delaying the launch of its robotaxi by about two months to October, as the design team was instructed to rework some elements of the car, Bloomberg News reported on Thursday, citing people familiar with the decision. Shares of Tesla, which is betting on self-driving vehicles over less-expensive cars,

Bill Hwang, founder of Archegos Capital Management, was found guilty of fraud Wednesday by a Manhattan federal court after the 2021 collapse of his investment firm wiped billions of dollars off financial markets and nearly brought down Wall Street. The jury delivered a swift conviction, finding Hwang guilty on 10

A significant proportion of American men aged 25 to 54 are neither employed nor actively seeking work, creating a substantial gap in the nation's economy. Back in 1953, nearly all men in this age group were either employed or looking for employment. Since then, this figure has steadily

It’s soon going to cost more money to get your foot in the door at Costco. But the good news is your hot dog is still $1.50 — for now at least. The retailer is raising membership fees by $5 to $65 a year in the US and Canada,

More Americans are falling behind on their credit card payments. About 8.9% of credit card balances became delinquent over the past year, according to the Federal Reserve Bank of New York. This indicates that a growing number of borrowers are struggling with rising prices and high interest rates. "

Yellen quickly dismissed a question about grocery prices, which have risen 20% since before the COVID-19 pandemic, during an interview with Yahoo Finance’s Jennifer Schonberger on Monday. “Have you been to the grocery store lately?” Schonberger asked Yellen. “I sure have — I go every week,” Yellen responded. “It’s

Alexandria Ocasio-Cortez has introduced articles of impeachment against conservative US Supreme Court justices Clarence Thomas and Samuel Alito, her office announced in a statement on Wednesday. This move comes after US Senators Sheldon Whitehouse and Ron Wyden called for the US Attorney General to appoint a special counsel to investigate

Microsoft Corp. and Apple Inc. have decided not to take board roles at OpenAI, highlighting the increasing regulatory scrutiny over Big Tech's influence on artificial intelligence. Regulatory bodies in Europe and the US had raised concerns about Microsoft's influence over OpenAI, prompting one of the world&

The U.S. is "no longer an overheated economy" with a job market that has cooled from its pandemic-era extremes and is, in many ways, back to where it was before the health crisis, Fed Chair Jerome Powell told Congress, indicating that the case for interest rate cuts

The average purchase price of a single-family home is $505,750, according to the U.S. Census Bureau. The mortgage on a $500,000 house is $2,952 per month toward your mortgage principal & mortgage interest, assuming a 6.86% interest rate and a 30-year fixed term with 10%

45% of Disney-going, $DIS, parents with young children have gone into debt for trip. The magic of Disney is driving some parents into debt. Among the 77% of theme park-going parents with children under 18 who have visited Disney, 45% have gone into debt for a Disney trip, with 83%

UiPath will cut approximately 420 jobs as part of a broader restructuring, the company announced in a filing with the SEC on Tuesday. The majority of these layoffs will be completed by the end of the first quarter of fiscal 2026, which concludes next April. On Tuesday, UiPath shares dropped

Microsoft, $MSFT, has told employees in China that starting in September they’ll only be able to use iPhones for work, effectively cutting off Android-powered devices from the workplace. Microsoft will require its employees in China to use only iPhones due to their enhanced security features. The decision comes as

America's real-estate market could be headed for a significant correction, according to veteran strategist Chris Vermeulen. The chief market strategist of The Technical Traders highlighted concerning signals in the real-estate sector, particularly as borrowing costs are expected to remain high. Construction starts for single- and multi-family homes have

The stock market will drop 32% in 2025 as the Fed fails to save the economy from a recession. The stock market is projected to crash by 32% in 2025 as the Federal Reserve struggles to prevent a recession, according to the most bearish strategist on Wall Street. Peter Berezin,

New York City’s long-stalled plans to test containerized trash collection are gaining momentum. The city has commissioned a multimillion-dollar study and two of its largest property owners have launched pilot programs for garbage bins. Earlier this week, the Department of Sanitation and the city’s Economic Development Corporation awarded

In June, Biden implemented a sweeping new asylum ban aimed at quickly deporting more recent border crossers to their home countries or Mexico. Even with the tougher border policy, Biden has continued to work to protect longer-term immigrants in the U.S. illegally, including through a new effort announced in

A United Airlines jet lost a landing-gear wheel on Monday when it took off from Los Angeles, but it safely landed in Denver, its planned destination, with no injuries, the airline said. The wheel from United Flight 1001, a Boeing 757-200, was recovered in Los Angeles. "We are investigating

Countries of the BRICS economic bloc are currently working on the launch of a financial system that would be independent of the dominance of third parties, according to the Russian Ambassador to China Igor Morgulov. The volume of Russia’s transactions in national currencies with fellow BRICS nations is continuously

Biden tells House Democrats to stop calling on him to drop out. President Biden sent a two-page letter to Democratic lawmakers on Monday, stating, “I am firmly committed to staying in this race,” and emphasized that speculation over his future was aiding former President Donald Trump. He urged that it