The U.S. Bureau of Labor Statistics recently reported that the average worker in the private sector saw their real hourly earnings increase by 0.8% from May 2023 to May 2024. This growth in “real” earnings takes into account the impact of inflation on workers’ wages, meaning that Americans are able to purchase more with their
Warren Buffett’s Berkshire Hathaway has been making strategic moves in the energy sector by steadily increasing its stake in Occidental Petroleum over the past nine trading sessions. With each trading day from June 5 to Monday, Berkshire Hathaway acquired an additional 7.3 million shares of Occidental Petroleum, bringing its total holding to over 255 million
Senator Elizabeth Warren is not one to shy away from confrontation, especially when it comes to holding powerful figures accountable. In a recent letter to Federal Reserve Chair Jerome Powell, Warren accuses him of prioritizing the interests of the financial industry over the well-being of the American people. She expresses her disappointment in reports suggesting
The intersection of technology and entertainment has reached new heights with the introduction of augmented reality (AR) glasses. Xreal, an Alibaba-backed startup, has recently unveiled the Beam Pro, a revolutionary smartphone-like device that enhances the viewing experience of games and movies on Google Play Store apps in three dimensions. This groundbreaking innovation opens up a
In 2024, Hong Kong once again claimed the title of the world’s most expensive city for expats, according to Mercer’s Cost of Living City Ranking. This ranking revealed that Asia’s major financial centers, including Singapore and Zurich, were among the top three costliest cities for international workers to reside in. Cities in Switzerland, such as
The Food and Drug Administration recently approved Merck’s new vaccine, Capvaxive, designed to protect adults from pneumococcus bacteria that can lead to serious illnesses such as pneumonia. This new development is a significant step forward in preventive healthcare, particularly for those at higher risk for pneumococcal disease. Pneumococcal disease is a severe condition that can
The inflation rate for food prices has slowed down in recent months, according to government data. However, this slowdown does not mean that consumers are not feeling the impact of high grocery costs. In the past few years, 80% of Americans have noticed a significant increase in the price of groceries, with prices rising by
Nvidia’s recent surge in the market has set off a chain reaction that will force the Technology Select Sector SPDR Fund (XLK) to make some significant changes in its portfolio. The index that the XLK follows will soon undergo a rebalance, taking into account the adjusted market cap values as of Friday’s closing. This will
The U.S. Department of the Treasury and the IRS have recently revealed a plan aimed at closing a significant tax loophole used by large, complex partnerships. This move is expected to generate more than $50 billion in tax revenue over the next decade. The focus of the plan is on combating “related party basis shifting,”
The recent decision by the Federal Reserve to leave interest rates unchanged has signaled that there may be only one rate cut expected before the end of the year. This means that individuals carrying credit card balances will not see much relief in terms of sky-high interest charges. With the average credit card rate nearing