The cost-of-living crisis has become entrenched in the U.S. economy, and an elevated Consumer Price Index (CPI) might linger longer than officials had anticipated. As a result, rampant inflation is altering the savings habits of Americans as they attempt to endure monthly price hikes at the supermarket or on their utility bills. According to the…
More Americans Withdrawing From Savings, Putting Away Less Money: Ipsos Poll
Family Finances: Use Tax Breaks to Lower College Costs
September 27, 2022
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BrightbudgetingdeductionsFuture Planningincome taxespersonal financetaxtax breaktax-freetuitionWealth Management
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By Sandra Block From Kiplinger’s Personal Finance It’s often said that buying a house is the largest investment most of us will ever make. But if you have a couple of children, the cost of sending them to a four-year college could exceed even that big-ticket item. Three kids—or at least one with Ivy League…
Will You Be in a New Tax Bracket Next Year?
No one likes paying taxes, but they are part of life. Getting your annual taxes as low as you can is something everyone wants, but this next tax year may mean paying more taxes for some. The Internal Revenue Service (IRS) will make a tax bracket-adjustment soon—and it probably will put some people into a…
Majority of Americans Actively Taking Steps to Weather a Recession, With Spending Cuts Most Popular Preparation
A large number of U.S. citizens are taking preparatory steps to confront a looming recession and are cutting down on their spending activities, according to a latest Bankrate survey. When questioned as to how prepared they are for a recession before the end of 2023, 42 percent of respondents said they were “somewhat prepared, while…
Morgan Stanley Warns of Something Worse Than a ‘Normal Recession’
September 27, 2022
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Business & Marketscorporate earningseconomyinflationInvestmentMarketspersonal financerecessionstock marketUSUS News
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Morgan Stanley’s Chief U.S. Equity Strategist Michael Wilson said that he’s convinced a corporate earnings recession is coming—and that it could be worse than a “normal” recession. Wilson said in a Sept. 26 interview with CNBC’s “Squawk Box” that his team at Morgan Stanley is looking closely at the U.S. business earnings story and the impact…
Here’s How Long Costco Plans to Keep Its Iconic $1.50 Hot Dog Combo
Costco will be keeping the price of its signature hot dog and drink combination inexpensive for customers despite soaring inflationary pressures, although prices for other items at the store may increase. Costco CFO Richard Galanti revealed the news during the company’s fourth-quarter earnings call on Sept. 22 after being asked whether the retailer would look at increasing the price of its famous combo to offset tightening margins owing…
NSW Refusing to Play Ball on Queensland’s Contentious Extra-Territorial Land Tax
September 27, 2022
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AustraliaBusiness & MarketsCameron DickDavid CrisafulliDominic Perrotteteconomic policiesGlobal Real EstateInternationalLand Taxpersonal financeQueenslandreal estateWorld
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New South Wales Premier Dominic Perrottet has ruled out cooperating with Queensland state authorities to help roll out its contentious extra-territorial land tax. In a nation first, the Queensland Labor government’s proposal will calculate the amount of land tax owed by an investor based on their total property holdings across the country, instead of what…
CyberHacker Releases 10,000 Optus Customer Details, Demands $1 Million Cyber Ransom
September 26, 2022
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AustraliaBusiness & MarketsClare O'Neilcyber securitycyber-attackOptuspersonal financeransomwaretelecommunication securityWorld
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The hacker claiming to be behind the cyber attack against Optus has released 10,000 customer records and threatened to leak more if the Australian telecommunication giant refuses to pay them US$1 million in cryptocurrency. The user known as “OptusData” has stolen the personal records of 9.8 million Australians including details such as driver licence,…
Kids and Money: Money Tips for Teens
By Steve Rosen From Tribune Content Agency Gabe Ruschman is a 16-year-old go-getter. An honor roll student from the Chicago suburb of Skokie, he plays safety on his high school football team, carves out time to play the trumpet, and has worked as a seasonal employee at Home Depot over the summer. The teen is…
How Major US Stock Indexes Fared Monday Sept. 26, 2022
Stocks fell on Wall Street and put major indexes deeper into a slump as recession fears grow. The S&P 500 fell 1 percent Monday. The Dow Jones Industrial Average and the Nasdaq also fell. The losses were broad and included banks, health care companies and retailers. The British pound slumped to an all-time low against…
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