As the holiday season concludes, many Americans find themselves burdened with newly acquired debt. A recent survey from LendingTree reveals that 36% of consumers engaged in holiday spending that led to debt accumulation, with an average balance of $1,181. Although this figure marks an increase from $1,028 in 2023, it is a notable decrease from
The prospect of a 25% tariff on Canadian imports proposed by President-elect Donald Trump has ignited a growing sense of alarm within Canada, particularly for its automotive industry. As the backbone of Ontario’s economy, the automotive sector’s viability is now under siege. With major automakers such as Ford, General Motors, Stellantis, Toyota, and Honda heavily
In recent years, the U.S. job market has experienced significant fluctuations, transitioning from an environment marked by unprecedented employee departures to one that is characterized by stability and retention. This transformation has given rise to what some economists label the “great stay,” signaling a phase where hiring activities, employee turnover, and layoffs have notably diminished.
In a noteworthy display of corporate resilience, Okta’s shares surged over 18% in after-hours trading following the release of its third-quarter earnings report, which showcased robust performance metrics that exceeded market forecasts. Analysts had projected a modest average, but Okta’s actual earnings per share (EPS) reached 67 cents, significantly higher than the expected 58 cents
The Federal Reserve recently revealed a significant recalibration of its interest rate projections, announcing only two quarter-point cuts actually expected in 2025, contrasting with the prior forecast of four such reductions. This shift reflects a cautious approach to navigating the current economic landscape. The updated guidance indicates that by the close of 2025, the benchmark
The Internal Revenue Service (IRS) has recently announced an initiative aimed at aiding approximately one million taxpayers who are eligible for special payments of up to $1,400 each. This unprecedented move is designed for individuals who failed to claim the 2021 Recovery Rebate Credit on their respective tax returns. The Recovery Rebate Credit, also known
The withdrawal of two significant student loan forgiveness initiatives by the Biden administration has sparked considerable concern and disappointment among borrowers and consumer advocates. Originally designed to relieve millions of Americans from their education debt, these proposals aimed to support various groups struggling with their student loans. The abrupt change in policy, just weeks before
On a recent Wednesday, the Federal Reserve made headlines by announcing a reduction in its benchmark interest rate by 25 basis points, marking the third consecutive cut since September. This significant monetary policy decision has resulted in a cumulative decrease of one full percentage point in the federal funds rate, providing a glimmer of hope