News

(Source-CNBC) In the ongoing battle for public opinion on the economic front, the Biden campaign has launched a scathing critique of former President Donald Trump's recent prediction of an impending economic crash. Trump's assertion that he hopes for an economic downturn before potentially assuming office for a second term has provided the Biden…

In a concerning financial trend, the total credit card balances in the United States have surged to a record-breaking $1.08 trillion, as reported by the latest quarterly update from the Federal Reserve Bank of New York. Over the past two years, Americans' credit card balances have witnessed an alarming 40% increase, according to insights provide…

(Source-PhillyVoice) Philadelphia-based radio giant Audacy has initiated bankruptcy proceedings, citing a significant downturn in advertising revenue. The company, known for its extensive podcast and radio operations and having acquired CBS Radio, filed a Chapter 11 petition in the U.S. Bankruptcy Court for the Southern District of Texas. This m…

Source-Business-Standard) As the year came to a close, the national debt in the United States reached a new record high, standing at a staggering $33.9 trillion. This figure comprises $26.9 trillion in debt held by the public and an additional $7 trillion accounting for intragovernmental holdings – essentially, debt that the Treasury owes to oth…

(Source-The-Economic-Times) Federal labor authorities accused SpaceX on Wednesday of unlawfully terminating eight employees who circulated a critical letter about the company's founder and CEO, Elon Musk. The National Labor Relations Board (NLRB) filed a complaint, stating that SpaceX fired the employees in 2022 for calling on the company to dis…

(Source-Bankrate) Federal Reserve officials, as per December meeting minutes released on Wednesday, anticipate interest rate cuts in 2024. The Federal Open Market Committee agreed to maintain the benchmark rate in the 5.25%-5.5% range, foreseeing three quarter-point cuts by the end of 2024. However, uncertainty looms over the timing and executio…

(Source-The-Economic-Times-IndiaTimes) After a record-breaking surge, America's labor market has shifted to a more typical pattern, with steady job postings at 8.8 million in November, signaling a cooldown. Hiring dipped to 5.5 million, 363,000 fewer than October, while quits dropped to 3.5 million. Many indicators have returned to pre-pandemic …

Tesla has released its Q4 2023 vehicle production and delivery report, revealing significant growth. In the fourth quarter, the company delivered 484,507 vehicles and produced 494,989. The total annual deliveries for 2023 reached 1,808,581, with an annual production of 1,845,985. This marks a substantial increase of 38% in deliveries and 35% in pro…

Effective Monday, new battery sourcing rules have rendered several electric vehicles ineligible for tax credits of up to $7,500, according to the U.S. Treasury. Notable models affected include the Nissan Leaf, Tesla Cybertruck All-Wheel Drive, certain Tesla Model 3s, and the Chevrolet Blazer EV. The guidelines, aimed at reducing reliance on Chinese…

Social Security recipients are poised for significant changes in 2024, driven by the intersection of inflation and tax adjustments that affect monthly benefits and potential tax liabilities. The top benefit is set to approach $5,000 per month in 2024, with the Social Security program providing vital monthly payments to over 70 million individuals, …