Moody's: Fannie Mae downgraded to AA1, Outlook stable

On May 16, Moody’s Ratings downgraded the U.S. credit rating, citing the country’s failure to address its growing and substantial deficits. This marks the first time that all three major credit rating agencies have downgraded the U.S. credit below their highest rating. The downgrade comes as

The average 30-year mortgage rate is now above 7%

On Monday, the average rate for a 30-year mortgage surpassed the 7% mark again, a rise triggered by Moody’s downgrade of the U.S. credit rating on Friday, which stemmed from concerns over the country’s escalating debt levels. This marks the first time since April 11 that the

JPMorgan, JPM, CEO Dimon: I wouldn't take stagflation for the US economy off the table

"I’m not a fan" of Bitcoin, the billionaire CEO made clear. He made these comments during JPMorgan Chase's Investor Day on May 19. With a market capitalization of $740 billion, JPMorgan Chase is the largest bank in the world, managing over $4 trillion in assets.

Russia and Ukraine will immediately start negotiations toward a ceaseefire and an end to the war

U.S. President Donald Trump announced that Russia and Ukraine are set to begin immediate talks aimed at achieving a ceasefire and ultimately ending the war, following a two-hour phone call with Russian President Vladimir Putin. Trump described the call as “very good” and said any path to peace would

Ray Dalio says the risk to U.S. Treasuries is even greater than what Moody's is saying

Ray Dalio, billionaire investor and founder of Bridgewater Associates, warned on Monday that the recent Moody’s downgrade of the U.S. sovereign credit rating fails to fully capture the real risks facing U.S. Treasury securities. According to Dalio, the credit agency is overlooking a critical threat: the federal

The Supreme Court has granted the Trump administration’s request to cancel Biden-era temporary protections for nearly 350,000 Venezuelans in the United States, allowing them to face deportatio

The U.S. Supreme Court on Monday allowed the Trump administration to move forward with ending Temporary Protected Status (TPS) for hundreds of thousands of Venezuelans, a program originally extended by former President Joe Biden. The court's decision gives the green light to the Justice Department's

Japan's historic work ethic is declining—45% of workers admit they're quiet quitting

Japan has long been known for its intense work culture, often leading to issues like overwork, burnout, and limited personal time. But that mindset is beginning to shift—especially among younger employees—who are pushing back by embracing what's known as quiet quitting. According to a survey by

Regeneron agrees to buy bankrupt 23andMe for $256 million, promises ethical use of customers' DNA data

Regeneron Pharmaceuticals (REGN.O) announced Monday that it will acquire 23andMe Holding for $256 million through a bankruptcy auction. The company emphasized its commitment to using customers' genetic data responsibly, especially data collected through ancestry and other consumer testing services. The acquisition is intended to strengthen Regeneron's

Standard Chartered analyst apologizes for $120,000 bitcoin price call, says target 'may be too low'

A Standard Chartered analyst who previously forecasted Bitcoin would reach $120,000 by Q2 now believes that projection may have underestimated the cryptocurrency’s potential. “I apologize—my $120K Q2 target might actually be too conservative,” Geoffrey Kendrick, the bank’s head of digital assets, said in a wry note

China vows to take measures if the US insists on going its own way

China has vowed to take “resolute and effective measures” to defend its rights and interests, just hours after the United States implemented President Donald Trump’s 104% tariff hike on Chinese goods on Wednesday. "The United States continues to impose arbitrary tariffs on China and exert extreme pressure without

Berkshire’s T-bill holdings now exceed those of the U.S. Federal Reserve, which currently maintains a portfolio of roughly $195 billion in short-term Treasuries

Berkshire Hathaway, led by Warren Buffett, released its latest earnings on Saturday — and the company’s growing mountain of cash and U.S. Treasuries continues to stand out. Buffett has expanded his holdings in short-term Treasury bills to a staggering $314.1 billion, cementing Berkshire’s position as the largest

The U.S. government posted a $258 billion budget surplus for April, up 23% from a year earlier

The U.S. Department of the Treasury attributes April’s budget surplus to a surge in individual tax payments. This timing aligns with the deadline for filing prior-year taxes and submitting the first estimated tax payments for the current year, which applies to many individuals and businesses. In April alone,

Trump has told Walmart, $WMT, to 'eat the tariffs' instead of raising prices

President Donald Trump pushed back against Walmart on Saturday after the company said it would be raising prices due to the impact of his tariffs. Walmart’s CEO, Doug McMillon, said during an earnings call on Thursday that the company was doing its best to keep prices low, but the

Moody’s downgrades US credit rating to Aa1 from Aaa

The United States has lost its final top-tier credit rating after Moody’s downgraded the country from ‘AAA’ to ‘Aa1’, citing growing concerns about the government’s ability to manage its rising debt load. Moody’s pointed to the failure of successive U.S. administrations to rein in expanding deficits

YouTube, GOOGL, viewers will start seeing ads after ‘peak’ moments in videos

YouTube introduced a new ad format called Peak Points during its Upfront presentation on Wednesday in New York. The feature uses Google’s Gemini AI to scan YouTube videos and pinpoint the moments with the highest viewer engagement or strongest emotional impact. Ads are then placed directly after these high-impact

CEOs say that just a fraction of AI initiatives are actually delivering the return on investment they expected

Just 25% of AI projects have delivered the expected return on investment (ROI) over the past three years, according to a new report from IBM, which surveyed 2,000 CEOs globally in the first quarter of 2025. Still, despite the underwhelming results, business leaders remain optimistic about AI’s potential.

Only 9% of Americans have 10 times their annual income saved for retirement

Northwestern Mutual’s 2025 Planning and Progress Survey reveals how much people across generations have saved for retirement—among those who have savings at all. And based on those savings levels, it’s clear that many are behind: * Millennials (ages 29–44): 22% have saved less than their annual income,

Trump said the U.S. will unilaterally set tariffs for many countries soon

Donald Trump has said the U.S. will begin sending formal letters to some of its trading partners to unilaterally impose new tariff rates, a move that underscores Washington’s limited capacity to negotiate individual trade agreements on a large scale. Speaking to business leaders in the United Arab Emirates

44% of companies have cut back at the manager level

A new report from consulting firm Korn Ferry highlights how the trend of eliminating middle management—often referred to as "unbossing"—has accelerated, especially following waves of tech layoffs in 2022 and 2023. One of the most prominent examples came from Meta, where CEO Mark Zuckerberg, during his

Medicare patients getting emergency surgery in private-equity hospitals are 42% more likely to die in the next 30 days

Medicare patients who have surgery at hospitals owned by private-equity firms are 42% more likely to die within 30 days compared to those treated at hospitals without private-equity ownership, according to new research published in the journal Health Affairs. The findings add to growing concerns that private-equity involvement in healthcare

Trump tax bill fails in House panel as GOP splits on cost

The House Budget Committee voted down the bill in a 21-16 vote, with Republican Representatives Chip Roy, Ralph Norman, Josh Brecheen, and Andrew Clyde joining Democrats in opposition. The four conservative holdouts pushed for steeper cuts to Medicaid and other federal programs. Bills rarely fail at this stage, as committee

The World Bank confirms that Saudi Arabia and Qatar have paid off Syria's outstanding debt

The World Bank announced Friday that Saudi Arabia and Qatar have paid off Syria’s $15.5 million debt, making Damascus eligible to apply for new funding. Last month, both Gulf nations pledged to settle Syria’s outstanding dues — a move the Syrian government welcomed as a critical step toward

Federal Reserve will reduce staff by 10% in coming years

Federal Reserve Chair Jerome Powell said in a memo that the central bank plans to reduce its workforce by about 10% over the next few years, including offering a deferred resignation option to some older employees. “Experience here and elsewhere shows that it is healthy for any organization to periodically

Powell: Appropriate to reconsider average inflation targeting

Federal Reserve Chair Jerome Powell said Thursday that U.S. central bankers are reassessing key assumptions about inflation and employment that underlie their current monetary policy framework, in light of the recent inflation surge and the likelihood that supply shocks may become more common in the future. “We may be

Coinbase, COIN, says hackers bribed staff to steal customer data and are demanding $20 million ransom

Coinbase, the largest U.S.-based cryptocurrency exchange, revealed Thursday that cybercriminals had illegally accessed customer data in a scheme to steal crypto — and are now demanding a $20 million ransom to keep the stolen information private. CEO Brian Armstrong stated on social media that bad actors had bribed several