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Economy, Personal Finance

“52% of Americans say they need to earn at least $100,000 a year to be financially comfortable”

“… Nearly 1 in 3 say a salary between $50,000 and $99,999 would suffice, the survey of over 4,300 adults found. Still, 52% of Americans say they would require at least $100,000 a year to be financially comfortable, with 26% saying… Continue Reading…

Energy

“IEA says coal use hit an all-time high last year — and global demand will persist near record levels”

“Coal consumption increased by 3.3% to hit a fresh record high of 8.3 billion metric tons in 2022, the International Energy Agency said Thursday. According to the Paris-based organization’s Coal Market Update, demand increased “despite a weaker global economy, mainly driven… Continue Reading…

Stocks

“Verizon Earnings Fall From Year Earlier But Top Estimates; Revenue Misses”

“…For the period ended June 30, March, Verizon earnings came in at $1.21 on an adjusted share. Profit for VZ stock fell 7% from a year earlier. Revenue for Verizon stock dipped 3.5% to $32.6 billion. A year earlier, Verizon… Continue Reading…

Business

“Johnson & Johnson beats on earnings, hikes full-year guidance as medtech sales surge”

“Johnson & Johnson on Thursday reported second-quarter revenue and adjusted earnings that topped Wall Street’s expectations, and lifted its full-year guidance as sales from the company’s medtech business jumped… That increased demand has been observed by health insurers like UnitedHealth Group and Elevance Health. Here’s how J&J results compared with… Continue Reading…

Economy, Stocks

“Zimbabwe’s stock market is up 800% this year as investors seek shelter from blistering 176% inflation rate”

“ … But in a country that’s seen its share of economic crises, there’s little reason to cheer. Local investors have piled into stocks in the hope of protecting the value of their cash as inflation hit 176% in June.… Continue Reading…

Stocks

“Meta [Facebook] shares pop 15% to 52-week high on guidance, sales increase”

“Meta shares gained more than 15% on Thursday, reaching a new 52-week high, as analysts and investors digested positive guidance for the upcoming fiscal quarter and an unexpected sales increase for the first quarter of 2023. The company reported strong… Continue Reading…

Economy

“Wall Street bonuses dropped 26% in 2022 after record 2021”

“Wall Street bonuses fell 26% to an average $176,700 in 2022 from a record in 2021, according to a report from New York State Comptroller Thomas DiNapoli published on Thursday. A worsening economic environment and stalled deal markets weighed on… Continue Reading…

Economy

“Egg prices increased 70% over the last year—here’s why”

“Grocery costs increased dramatically over the last year, but nothing beats the price of eggs, which have grown by 70.1%, according to the latest data from the Bureau of Labor Statistics… To offset inflation, the deli has added a 50-cent surcharge… Continue Reading…

Economy

“Inflationary Times Ahead: A Year of Rising Prices”

“EDITOR’S NOTE: The prospect of inflation is looming large in the minds of investors and economists around the world. With prices of goods and services on the rise this year, many are wondering if we are on the cusp of… Continue Reading…

Economy

“Annuity [Insurance] sales hit record last year, eclipsing sales during 2008 financial crisis amid fear, higher rates”

“Amid stock market gyrations, recession fears and loftier payouts, consumers last year pumped a record sum of money into annuities, a type of insurance that offers a guaranteed income stream. Buyers funneled $310.6 billion into annuities in 2022, according to estimates published… Continue Reading…