OpenLine - 2022 Tax Return - P1
Mary Gillum, Director of Legal Aid Society's Low Income Taxpayer Clinic, answers callers' questions on what to do to best save money this tax season.
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TheStreet.comElon Musk Is Very Worried About Italy
The billionaire CEO of Tesla has made it his mission to alert the world about the problems threatening our civilization.
- CinemaBlend
Major Disney Layoffs Are Coming. It's Being Described As 'A Bloodbath'
Disney announced major layoffs last month and it looks like they will be hitting Cast Members soon.
- South China Morning Post
Hong Kong holds on to fourth spot in global financial centre rankings, while Singapore remains one place higher
Hong Kong held on to its fourth-place ranking globally in the latest study of the world's leading international financial centres, as the city's economy continues to recover from three years of Covid-19 restrictions. The city ranked fourth in the 33rd edition of the semi-annual Global Financial Centres Index, produced by the China Development Institute in Shenzhen and the London think tank Z/Yen Partners. New York was No 1 financial centre, followed by London and Singapore. Financial industry ex
- GOBankingRates
States Whose Economies Are Failing vs. States Whose Economies Are Thriving
The U.S. economy has seen more fluctuation over the past three years than in many decades prior. The coronavirus pandemic brought the economy to a near halt in 2020, when the unemployment rate shot up...
- Bloomberg
House Republicans Finalizing Offer to Biden on Debt-Ceiling Deal
(Bloomberg) -- House Republicans are finalizing a formal list of spending cuts they’ll demand from President Joe Biden in exchange for their support for raising the US debt ceiling, Budget Committee Chair Jodey Arrington told reporters. Most Read from BloombergJack Dorsey’s Block Vows to Fight Back After Hindenburg Says It’s Short the StockUS Fears a War-Weary World May Embrace China’s Ukraine Peace BidShort Seller Hindenburg Says ‘Another Big One’ Coming SoonJPMorgan Sold $10 Million in Jewels
- Fox Business
Fed rate hikes will trigger a downturn of greater 'speed and magnitude' than the Great Recession: Economist
The market's bubble has now "burst," and will impact "everything everywhere all at once" in the U.S. economy, economists Stephanie Pomboy and Art Laffer argue.
- The Telegraph
Inflation jumps unexpectedly as food shortages bite
Britain’s vegetable shortage caused inflation to rise unexpectedly last month, increasing pressure on the Bank of England to raise interest rates this week.
- Business Insider
The economy is headed into a 'Bermuda Triangle' of risk that will bring on a crisis to rival 2008, 'Dr. Doom' economist Nouriel Roubini says
The economy is headed into a danger zone as it faces three major stressors, economist Nouriel Roubini warned.
- Time
Banks Might Be About to Ruin the Economy Again
For the second time in the 21st century, mistakes in the financial sector could topple the economy.
- GOBankingRates
Social Security: 20% Cuts to Your Payments May Come Sooner Than Expected
In more alarming news about the state of Social Security, some experts are warning that up to 20% in payment cuts could be coming as early as 2032, per CNN, unless Congress intervenes with measures to...
- INSIDER
Republicans' plans to cut the budget could mean millions lost in back pay, more dangerous workplaces, and jobs sent overseas, the White House says
The White House is ramping up its attack on the Freedom Caucus' budget plan, now saying spending cuts would harm workers and cost them owed wages.
- GOBankingRates
Tax Cuts: 50% of States Are Pushing for Reductions or Eliminating Taxes Altogether
While the federal government is dealing with a debt ceiling crisis, many local states have a cash surplus: so-called "rainy day funds." In fact, 27 states are now considering cutting taxes (or...
- USA TODAY
Where is the GOP budget proposal? House Republicans face time crunch with looming deadline
Despite House Republicans grilling the administration for answers on President Joe Biden's budget plan, they have yet to share their own proposal.
- The Hill
Fed hikes rates despite concerns over banking crisis
The Federal Reserve hiked interest rates by 0.25 percentage points on Wednesday after numerous failures in the banking sector had prompted some analysts on Wall Street to call for a pause. The quarter-point hike is the ninth consecutive rate increase by the Fed since March of last year as part of the U.S. central bank’s…
- Reuters
Job search platform Indeed to cut 2,200 jobs
Chief Executive Chris Hyams, who will take a 25% cut in base pay, said future job openings in general were at or below pre-pandemic levels and that the company was too large. Corporate America has been laying off staff at a pace not seen since the financial crisis over a decade ago, bracing for a an economic downturn triggered by aggressive rate hikes by central banks around the world. Meta Platforms Inc and Amazon.com Inc have announced a second round of layoffs as they look to cut costs.
- Barrons.com
Banks Are Borrowing at Financial Crisis Levels. What It Means.
The Federal Reserve's balance sheet continued to swell as banks braced themselves in the aftermath of two bank collapses.
- GOBankingRates
New $2 Trillion Fund for Banks Will Protect Your Money, Too
Following the collapses of Silicon Valley Bank and Signature Bank and the ensuing market turmoil it created, the government took several emergency measures. One of which, announced on March 12, is the...
- The Telegraph
What caused the shock inflation rise – and what it means for interest rates
Andrew Bailey and Jeremy Hunt faced an unwelcome surprise on Wednesday morning.
- Reuters
US labor market still tight; housing market close to bottoming out
The number of Americans filing new claims for unemployment benefits edged down last week, showing no signs yet that the recent financial market turbulence following the failure of two regional banks was having an impact on the economy. The unexpected dip in claims reported by the Labor Department on Thursday suggested March could be another month of solid job growth. The weekly unemployment claims report is the most timely data on the economy's health.
- Reuters
Yellen says US banks shoring up liquidity to guard against runs
U.S. Treasury Secretary Janet Yellen said that banks across the United States are worried about contagion and have been shoring up liquidity to protect themselves from runs prompted by the failures of Silicon Valley Bank and Signature Bank. Yellen told a Senate Appropriations subcommittee hearing that over the past two weeks, many mid-sized banks expressed "great concern" to the Treasury about their uninsured deposits. "Many of these banks felt very skittish about their potential to suffer runs as well," Yellen said.