The housing market is currently facing a crisis with sales of previously owned homes at a 30-year low. In May, existing home sales remained essentially flat, decreasing by 0.7% from April to a seasonally adjusted, annualized rate of 4.11 million units. This represents a 2.8% decrease from May of the previous year. The sluggish sales
The U.S. Department of Education is considering extending the eligibility of the Public Service Loan Forgiveness (PSLF) program to include early childhood educators. This move comes as a response to the low wages many of these educators face and the student debt they accumulate due to pursuing higher education. Early childhood educators play a crucial
Forever 21, a legacy fast-fashion player, is currently facing financial difficulties that are causing the company’s sales to decline. The retailer, with over 380 stores in the U.S., has reached out to landlords to request a decrease in rent, with some landlords being asked to cut rent by as much as 50%. This move shows
The recent Supreme Court case, Moore v. United States, involved a challenge to a federal tax on certain foreign investments. The case centered around a Washington state couple who faced taxes on income from an investment in an India-based company that did not distribute dividends. The couple incurred approximately $15,000 in taxes due to the
China invested a significant amount, totaling $230.8 billion, over a span of more than a decade to develop its electric car industry. This information was revealed in research conducted by the U.S.-based Center for Strategic and International Studies. Scott Kennedy, the trustee chair in Chinese Business and Economics at CSIS, highlighted that this scale of
Casual-dining chains are experiencing a shift in customer behavior, with more consumers showing interest in their offerings compared to traditional fast-food establishments. Darden Restaurants CEO Rick Cardenas highlighted this trend, pointing out that while Darden has not directly benefited from this shift, its competitors like Brinker International and Dine Brands have been successfully luring in
The recent introduction of a program in New York offering homeowners up to $14,000 in rebates for energy-efficiency upgrades signals a positive step towards promoting greener living. This initiative, under the federal Inflation Reduction Act, is a major push towards achieving climate goals and reducing carbon emissions. By encouraging consumers to make their homes more
Darden Restaurants recently reported their quarterly results, which were met with mixed reactions. While the company’s same-store sales forecast for fiscal 2025 indicated a modest growth of 1% to 2%, there were concerns about Olive Garden’s performance, with its same-store sales declining for the second consecutive quarter. The quarter ended May 26 saw Darden reporting
As older members of Generation X approach retirement age, the pressure to save for their golden years is becoming increasingly intense. These individuals, born between 1965 and 1980, are faced with the daunting task of saving for retirement while also juggling the financial responsibilities of caring for both elderly parents and adult children. A recent
The most recent decrease in mortgage rates did not seem to impress consumers. Even though the average contract interest rate for 30-year fixed-rate mortgages fell to 6.94% from 7.02%, with points decreasing to 0.61 from 0.65, the total mortgage application volume only rose by 0.9%. This indicates a lackluster reaction from potential homebuyers to the