As the holiday season comes to a close, many Americans are finding themselves in a precarious financial situation, burdened by new debt. A recent survey by LendingTree reveals that 36% of consumers accrued holiday debt this year, with an average balance of $1,181—a notable increase from $1,028 just a year prior, although it remains lower
Cisco Systems, known for its technology and networking solutions, has recently reported its fourth consecutive quarter of declining revenues. Despite surpassing analysts’ expectations, the company’s stock saw a 2.5% drop during after-hours trading. For the quarter ending October 26, Cisco recorded earnings per share (EPS) of 91 cents on an adjusted basis, slightly above the
In recent developments, the U.S. Treasury Department has made a critical decision affecting millions of small businesses by pushing back the due date for filing the Beneficial Ownership Information (BOI) report to January 13, 2025. This alteration arises from a combination of legal challenges and the need for businesses to comply with the newly instituted
Inflation has become an increasingly pressing topic in economic discussions, particularly as consumer prices in the U.S. have exhibited an upward trend in recent months. The latest data published by the Bureau of Labor Statistics confirms that inflation is not merely a fleeting concern. In November, the Consumer Price Index (CPI) escalated by 2.7% compared
In an ambitious announcement that signals a new wave of investment in American technology, SoftBank CEO Masayoshi Son revealed a monumental $100 billion investment plan during a visit with President-elect Donald Trump at Mar-a-Lago. This substantial financial commitment is not merely a transactional endeavor; it encapsulates a vision for the future of artificial intelligence and
The U.S. job market is experiencing a significant shift, transitioning from the tumultuous “great resignation” of the previous years to what has been aptly labeled the “great stay”. This transformation reflects a considerable change in employee behavior and employer strategies, shaping a new landscape marked by stability rather than churn. Job seekers in today’s market
The Biden administration recently made headlines by withdrawing significant plans aimed at providing student loan forgiveness. These proposed regulations had the potential to ease the financial burdens of numerous borrowers who have been struggling with student loan debt for years. The plans would have authorized the Secretary of the U.S. Department of Education to cancel
On a significant Wednesday, the Federal Reserve made headlines with its decision to lower the benchmark interest rate by a quarter point, marking its third consecutive reduction. Since a series of aggressive rate hikes beginning in March 2022 and culminating in July 2023, this cut has seen the federal funds rate decrease by an entire
In a significant development aimed at providing financial relief, the Internal Revenue Service (IRS) has revealed plans to issue automatic payments of up to $1,400 to approximately one million taxpayers. This initiative targets individuals who, despite being eligible, failed to claim the 2021 Recovery Rebate Credit on their tax returns. The announcement marks a crucial
Okta, a leader in identity management solutions, experienced a remarkable surge in its stock price, climbing over 18% in after-hours trading on Tuesday following the release of its third-quarter financial results. This upswing not only surpasses the expectations set by analysts, but it also signals a strategic turnaround for a company that has faced turbulent