Economy

“U.S. budget deficit surged in February, passing $1 trillion for year-to-date record”

“…Government spending eased slightly on a monthly basis though it still far outpaced revenue, according to a Treasury Department statement Wednesday. The deficit totaled just over $307 billion for the month, nearly 2½ times what it was in January and… Continue Reading…

Economy

“Dollar General CEO warns consumers are cash-strapped, and says 2025 won’t be better”

“Dollar General’s CEO said customers’ financial situations have worsened over the past year due to inflation. CEO Todd Vasos said the company doesn’t expect the macro environment to improve in 2025. Tariffs and potential changes to government entitlement programs present… Continue Reading…

Business

“Verizon Makes a $3.3 Billion Deal to Help Protect Its Towering Dividend”

“…The company’s debt is on track to balloon further after it agreed to buy Frontier Communications (NASDAQ: FYBR) in a $20 billion all-cash deal. However, it recently made a counter move to cash in the value of its tower assets, which will bring… Continue Reading…

Business

“UAE hoping to expand $1 trillion partnership with U.S. through AI, Investment”

“Emirati President Sheikh Mohammed bin Zayed Al Nahyan’s first official trip to the United States aims to push the United Arab Emirates-U.S. relationship to a new “geo-economic phase” centered on economic growth and innovation, top officials said ahead of a… Continue Reading…

Banking

“This Bank [PNC] Could Be the Next to $1 Trillion in Assets…”

“There are more than 4,500 bank subsidiaries in the U.S., according to the Federal Deposit Insurance Corporation. However, there is a wide discrepancy in size. Four banks — JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo — each have at least $1.6 trillion in… Continue Reading…

Cryptocurrencies

“Wyoming is pushing crypto payments and trying to beat the Fed to a digital dollar”

“…The state is creating its own U.S. dollar-backed stablecoin, called the Wyoming stable token, which it plans to launch in the first quarter of 2025 to give individuals and businesses a faster and cheaper way to transact while creating a… Continue Reading…

Business, Stocks

“S&P and Moody’s downgrade JetBlue amid $3 billion debt raise, shares sink”

“…Shares of the New York-based company plummeted 19%. JetBlue intends to raise $1.5 billion through a private offering of senior secured notes and an additional $1.25 billion via a term loan, secured by TrueBlue. It also plans to raise $400… Continue Reading…

Economy

“$1 million starter home? It’s the norm in 237 cities”

“The number of cities with ‘million-dollar’ starter homes has nearly tripled since 2019 SEATTLE, July 25, 2024 /PRNewswire/ — A million-dollar price tag no longer means lavish and luxurious living. In more than 200 U.S. cities, buyers will find a price tag… Continue Reading…

Real Estate

“Mortgage refinance demand drops further, despite homeowners sitting on $17 trillion in equity”

“… …” https://www.cnbc.com/2024/07/10/mortgage-refinance-demand-drops-with-homeowners-sitting-on-huge-equity.html

Economy

“The world is sitting on a $91 trillion problem. ‘Hard choices’ are coming”

“Governments owe an unprecedented $91 trillion, an amount almost equal to the size of the global economy and one that will ultimately exact a heavy toll on their populations… The International Monetary Fund last week reiterated its warning that “chronic fiscal… Continue Reading…