The U.S. Navy is encountering a tenacious threat in the Red Sea. The Iran-backed Houthi rebels have launched wave after wave of low-cost precision weapons at vessels transiting the area, including attacks on U.S. warships themselves. “That’s one of the things [that] the Red Sea sort of demonstrates … we never know where the maritime … Read more
Brand X Pictures | Stockbyte | Getty Images When faced with an unexpected $1,000 expense, more than one-third of Americans would borrow the money, according to a new Bankrate survey. That may include tapping their credit cards, seeking money from friends or family or taking out a personal loan. Most would not turn to cash … Read more
Oil field workers on a rig in Tioga, North Dakota. Ken Cedeno | Corbis | Getty Images Oil prices edged lower Wednesday as U.S. gasoline stocks rose significantly, suggesting demand might be faltering in the world’s largest economy. The West Texas Intermediate futures contract for March fell 18 cents, or .24%, to $74.19 a barrel … Read more
Former U.S. President and Republican presidential candidate Donald Trump holds a rally in advance of the New Hampshire presidential primary election in Rochester, New Hampshire, U.S., January 21, 2024. Mike Segar | Reuters Markets are “fairly complacent” about the risks of a second Donald Trump presidency, which could trigger a “tantrum” in long-duration bond markets, … Read more
A man walks past a barbershop in Los Angeles. Robyn Beck | Afp | Getty Images Inflation in the U.S. economy is on the retreat. But the road to ultimate victory may be harder than what’s come already, some economists argue. “The so-called last mile is going to get a lot trickier,” Mohamed El-Erian, chief … Read more
In just three years, the world has witnessed a “supercharged surge in extreme wealth,” new data shows. In the U.S. alone, billionaires are 46% richer than they were in 2020, while the three wealthiest men — Elon Musk, Jeff Bezos and Larry Ellison — have increased their net worth by 84%, a recent Oxfam … Read more
Former U.S. President and Republican presidential candidate Donald Trump holds a rally in advance of the New Hampshire presidential primary election in Rochester, New Hampshire, U.S., January 21, 2024. Mike Segar | Reuters Markets need to begin thinking about the structural impact of Donald Trump’s proposed 10% tariff increase, which “shakes up every asset class,” … Read more
Jim Dyson | Getty Images News | Getty Images The global economy does not need a “collapse” in order to bring inflation back to target and return to sustainable growth, according to Steven Wieting, chief investment strategist and chief economist at Citi Global Wealth. Major economies have proven surprisingly resilient to sharp interest rate increases … Read more
Spirit Airlines airplanes at Fort Lauderdale-Hollywood International Airport (FLL) in Fort Lauderdale, Florida, US, on Tuesday, Oct. 24, 2023. Spirit Airlines Inc. is scheduled to release earnings figures on October 26. Photographer: Eva Marie Uzcategui/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images A federal judge’s order blocking a $3.8 billion-dollar deal that would … Read more
A customer shops for eggs in a Kroger grocery store in Houston, Texas. Brandon Bell | Getty Images News | Getty Images Egg prices are on the rise again, after having fallen from record highs in 2023. Average egg prices jumped 8.9% from November to December, following a 2.2% rise the prior month, according to … Read more
