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Business

“BP Stock Falls After Earnings. It’s Tough for Big Oil to Beat Last Year.”

“BP the oil and gas company, missed analyst estimates for profit in the third quarter. It goes to show how hard it is for Big Oil to keep investors happy after making record profits last year. London-based BP (ticker: BP)… Continue Reading…

Economy

“62% of Americans are still living paycheck to paycheck, making it ‘the main financial lifestyle,’ report finds”

“…As of September, 62% of adults said they are living paycheck to paycheck, according to a new LendingClub report. The figure is unchanged from last year. “Living paycheck to paycheck remains the main financial lifestyle among U.S. consumers,” the report said…” https://www.cnbc.com/2023/10/31/62percent-of-americans-still-live-paycheck-to-paycheck-amid-inflation.html… Continue Reading…

Business

“Samsung expected to report 80% profit plunge as losses mount at chip business”

“…The South Korean technology giant will issue earnings guidance on Wednesday. Analysts polled by LSEG expect operating profit of 2.3 trillion Korean won ($1.7 billion) for the September quarter, a 78.7% year-on-year decline. Revenue is expected to come in at… Continue Reading…

Business

“Businesses are returning $140 million in surprise overdraft fees to consumers, according to a CFPB report”

“The nation’s federal consumer protection watchdog announced Wednesday that companies will refund $140 million to customers as a result of its work to uncover illegal so-called junk fees…. Nearly two-thirds of banks with more than $10 billion in assets have also eliminated NSF fees,… Continue Reading…

Banking

“U.S. 10-year yield returns near 16-year high after better-than-expected jobs report”

“U.S. Treasury yields rose Friday, with the 10-year nearing a 16-year high after the latest jobs data came in stronger than economists anticipated. The yield on the 10-year Treasury was up by nearly 13 basis points at 4.839%. It had hit a fresh… Continue Reading…

Economy

“These risk factors suggest borrowers could struggle when student loan payments resume, report finds”

“Many student loan borrowers face risk factors that suggest they could struggle covering their bills, especially after the Supreme Court struck down President Biden’s federal student loan forgiveness proposal and repayment will resume in October. To that point, about 20% of borrowers… Continue Reading…

Stocks

“Abercrombie & Fitch surges more than 20% after reporting surprise profit”

“Shares of Abercrombie & Fitch soared more than 20% on Wednesday after the mall retailer beat estimates, raised its guidance and reported a surprise profit.  Here’s how Abercrombie did in its fiscal first quarter compared with what Wall Street was anticipating, based… Continue Reading…

Personal Finance

“35% of millionaires say retirement is ‘going to take a miracle,’ report finds”

“…Although the rich are getting richer, 58% of high net worth individuals said they accept that they will have to keep working longer and 36% worry that retirement may not even be an option, according to data from Natixis Investment… Continue Reading…

Economy

“Huge chunk of plants, animals in U.S. at risk of extinction -report”

“A leading conservation research group found that 40% of animals and 34% of plants in the United States are at risk of extinction, while 41% of ecosystems are facing collapse. Everything from crayfish and cacti to freshwater mussels and iconic… Continue Reading…

Economy, Stocks

“Dow climbs nearly 200 points after December CPI report shows cooling inflation”

“Stocks advanced Thursday after December’s consumer price report showed inflation cooled for the month, raising hopes the Federal Reserve can once again slow interest rate hikes. The Dow Jones Industrial Average gained 186 points, or 0.6%. The S&P 500 added… Continue Reading…