Unusual Whales

The Biden administration announced today it canceled an additional $4.5 billion in student debt relief for over 60,000 borrowers.

The Biden administration announced on Thursday the forgiveness of an additional $4.5 billion in student debt, benefiting more than 60,000 borrowers. This latest relief comes from improvements made by the U.S. Department of Education to the Public Service Loan Forgiveness (PSLF) program, which had faced significant issues

Biden's conomy is strongest in 3 out of 6 categories: employment, manufacturing employment, and GDP growth, & third out of eight in stock performance & second out of five in exports (data goes back to 1993).

When President Joe Biden took office in 2021, the economy was strong but gradually weakened as inflation eroded Americans' purchasing power. Now, with inflation easing, the Biden economy is regaining strength, looking as robust as it did at the start of his presidency. Since July, the Biden economy has

The FTC has announced the “click-to-cancel” rule that will require companies to let you cancel any product as easily as you registered

The U.S. Federal Trade Commission (FTC) adopted a new rule on Wednesday requiring businesses to make canceling subscriptions and memberships as easy as signing up, marking the agency’s last major rulemaking before the upcoming Nov. 5 election. Known as the "click to cancel" rule, it mandates

Amazon, $AMZN is also getting into nuclear energy after $GOOGL and $MSFT, and will invest more than $500 million to develop small module reactors

Amazon Web Services (AWS) is investing over $500 million in nuclear energy, announcing three projects spanning from Virginia to Washington state. As a subsidiary of Amazon, AWS has a growing demand for clean energy, particularly as it expands its services into generative AI. This initiative is also part of Amazon’

"Rate cuts were supposed to push mortgage rates lower. The opposite has happened," per BI

The Federal Reserve’s interest rate cut in mid-September was expected to bring relief to prospective homebuyers by lowering mortgage rates. However, the opposite has occurred. Since Fed Chair Jerome Powell reduced interest rates by 50 basis points on September 18, the average 30-year fixed mortgage rate has

McKinsey, the consultancy firm, is nearing a deal with US prosecutors to pay at least $500 million to settle numerous probes into the firm’s past work with opioid makers

Consulting firm McKinsey & Co. is nearing a deal with U.S. prosecutors to pay at least $500 million to resolve federal investigations into its past work with opioid manufacturers, according to a report by Bloomberg News on Wednesday. The settlement, expected to be announced in the coming weeks, would

Home prices are up 42% since 2020, but because both rates and borrowing costs have skyrocketed, you need to earn 80% more to comfortably afford a home in today’s market

Home prices hit a new high in June for the second straight month, at $426,900. Home prices reached a new peak in June for the second consecutive month, highlighting the housing market's growing unaffordability for millions of Americans, according to the Wall Street Journal. "The spring

Baby boomers are the wealthiest generation to have ever lived

"Most importantly, the baby boom generation has started to retire with a record $76 trillion in net worth," he wrote for the Financial Times. "They are spending on restaurants, cruises, traveling, and healthcare. All these services industries have been expanding their payrolls, thus boosting real incomes, and

Divorcees have lower 401(k) balances, less savings, and a more limited monthly retirement income than married people

Meanwhile, People in their 30s might not be close to their retirement savings goals yet, but they still have plenty of time to catch up. On average, Americans believe they’ll need about $1.46 million to retire comfortably, according to Northwestern Mutual’s “2024 Planning and Progress” study. For

Kamala Harris has just said: No one should go to jail for smoking weed

Kamala Harris has pledged to legalize marijuana at the federal level if she is elected president, as part of her campaign’s newly announced “Opportunity Agenda” aimed at Black male voters. On Monday, the Harris campaign stated that, if she wins in November, she will work to "eliminate unjust

Kamala Harris has released a policy plan for Black Men in America

Vice President Kamala Harris unveiled a plan on Monday aimed at expanding economic opportunities for Black men, as she seeks to energize a key voting demographic that has raised concerns within the Democratic Party due to a perceived lack of enthusiasm. The plan includes providing forgivable business loans to Black

OPEC has cut global oil demand growth forecasts for a third month

OPEC on Monday reduced its forecast for global oil demand growth in 2024, marking the group's third consecutive downward revision. This adjustment reflects weaker data received throughout the year and highlights the challenges faced by OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies like

llinois is considering a 3% tax on millionaires to solve the state's property tax problem

In November, Illinois voters will decide whether to implement a special tax on individuals earning $1 million or more, a measure that state leaders claim could help ease the high property tax burden on the average resident. The proposed tax would create an additional 3% tax on income over $1

Google $GOOGL $GOOG is funding the construction of 7 small nuclear power reactors in the US to help with energy needed for AI

Google is actively seeking energy sources that not only meet its substantial energy demands but also align with its goal of achieving net-zero emissions, CEO Sundar Pichai said. The company has set a target to reach net-zero emissions across all operations by 2030. “It was a very ambitious

BlackRock $BLK CEO Larry Fink said today that Bitcoin $BTC will become as big as the entire U.S. housing market, valued over 50 trillion

Larry Fink believes Bitcoin is poised to soar regardless of who occupies the Oval Office. While many analysts attribute the $1.2 trillion asset's growth to regulatory factors, the BlackRock CEO sees its rise driven by improved analytics and greater acceptance among investors. "I don't

California officials reject more SpaceX rocket launches, with some citing Elon Musk’s X posts

SpaceX’s proposal to expand rocket launches from the California coast was rejected by a state commission this week, with some officials expressing concerns over Elon Musk’s political activities and the labor practices at his companies. The California Coastal Commission voted Thursday against the plan, which would have allowed

China said it will "significantly increase" government debt, noting that they still have 2.3 trillion yuan available to spend in the last quarter of this year

China announced on Saturday that it plans to "significantly increase" government debt issuance to provide subsidies for low-income households, support the property market, and bolster state banks' capital, all in an effort to revive sluggish economic growth. While Finance Minister Lan Foan did not provide specifics

"Iran, North Korea, and Russia I think you can legitimately call an evil axis," Jamie Dimon of JPMorgan has said

"Iran, North Korea, and Russia I think you can legitimately call an evil axis. They're working every day on how to make it worse for the Western world and for America," Jamie Dimon of JPMorgan. JPMorgan CEO Jamie Dimon is known for focusing on long-term,

The CIA boosts its efforts to recruit Chinese citizens, as it seeks to capitalize on what US officials say is growing discontent with President Xi Jinping’s rule

The Central Intelligence Agency (CIA) is intensifying efforts to recruit Chinese nationals, aiming to leverage what U.S. officials describe as growing dissatisfaction with President Xi Jinping's leadership. On Wednesday, the CIA released Chinese-language guidelines across social media platforms like Instagram, Facebook, LinkedIn, YouTube, Telegram, and X,

73% of Amazon, $AMZN, employees are considering quitting in response to Amazon saying that they will have to start working from the office 5 days a week

73% of Amazon, $AMZN, employees are considering quitting in response to Amazon saying that they will have to start working from the office 5 days a week. Amazon CEO Andy Jassy has consistently warned remote workers that if they don’t comply with return-to-office (RTO) mandates, “it’s

Online scammers scam 20% of the U.S. adults they encounter

One in five American adults who have encountered online scams have fallen victim and lost money, according to a new report by Consumer Reports. Why it matters: Scams are now a common part of nearly everyone's online experience, and new AI tools are making them more convincing and

JPMorgan Chase, JPM, has said the US Economy has likely made a soft landing

JPMorgan Chase, $JPM, has said the US Economy has likely made a soft landing. “These results align with a soft landing,” said Chief Financial Officer Jeremy Barnum during a conference call. “It fits with what we might call a Goldilocks economic situation.” While the Fed's recent interest rate

Fidelity & Fidelity Investments has confirmed that over 77,000 customers had personal information compromised, including Social Security numbers and driver’s license

Fidelity Investments, one of the world’s largest asset management firms, has confirmed that the personal information of more than 77,000 customers, including Social Security numbers and driver’s licenses, was compromised in a data breach in August. The Boston-based company disclosed in a filing with Maine’s

Donald Trump said he will propose a “made in America” corporate tax rate of 15% for US Manufacturing

Donald Trump is proposing a significant tax break for U.S. citizens living abroad, positioning the plan as a way to attract votes from the millions of Americans who could benefit. The former president and current Republican candidate made this commitment in a video shared by Solomon Yue, CEO of

U.S. economy is on the cusp of another Roaring ’20s, says UBS

The U.S. economy is performing so well that UBS has hinted at the possibility of a return to the prosperous days of the "Roaring ’20s." The European financial powerhouse believes the nation is edging toward a booming economic period, giving it a 50% chance of unfolding. The