• Gas prices fall below $4 per gallon for the first time in months Link
    MarketWatch Thu 11 Aug 2022 07:57

    The average price for a gallon of gasoline has fallen below $4, according to a leading tracker of prices.

    AAA reported that the current national average for regular gasoline has fallen to $3.99. That’s well below the peak of $5.02 in mid-June, though still up considerably from the $3.19 average one year ago.

    The Energy Information Administration’s...

  • As of January 31 of this year, higher education institutions owed roughly $1.375 billion to the Department of Education, according to a report by the National Legal Student Defense Network. Link
    MarketWatch Thu 11 Aug 2022 07:07

    Hello and welcome to Extra Credit, a look at the news through the lens of debt. 

    After a hiatus for parental leave, I’m back and digging into who pays for schools’ alleged misconduct.

    The debate over expanding the benefits of the student loan program, including canceling loans, is often framed as a battle between taxpayers and borrowers. Provide help to borrowers, critics allege, and other Americans, who didn’t go to college or who already paid off their debt, will be on the hook. 

  • Some seniors 65 and older and permanent residents of Maine can freeze their property taxes at the prior year’s rate, according to a new property tax relief law. Check your eligibility and when you can start applying for the relief program ? Link
    MarketWatch Thu 11 Aug 2022 06:42

    A new property tax relief law went into effect this week in Maine, which could be a boon for seniors in the nation’s oldest state that also has the fourth-highest homeownership rate. 

    Under the “Property Tax Stabilization Program,” seniors who are 65 and older and permanent residents of Maine can freeze their property taxes at the prior year’s rate if they’ve owned their home for 10 years. There is no income requirement, meaning any qualifying senior can receive the benefit. 

  • RWE adjusted net income rises, confirms full-year outlook Link
    MarketWatch Thu 11 Aug 2022 06:22

    RWE AG on Thursday said that adjusted net income rose in the first half and confirmed the outlook lift for the full year on the back of strong earnings.

    The German energy company posted adjusted net income of 1.57 billion euros ($1.61 billion), compared with EUR870 million a year earlier.

  • German chemical group K+S sees earnings jump on higher prices, backs 2022 view Link
    MarketWatch Thu 11 Aug 2022 06:17

    K+S AG said Thursday that second-quarter earnings jumped as higher average prices compensated for increased costs, and backed its 2022 outlook despite a possible reduction in natural gas availability at German sites.

  • The Nasdaq Composite on Wednesday exited a brutal bear market, while the Dow Jones Industrial Average ended a market correction, as stocks rallied in the wake of a cooler July inflation reading. Link
    MarketWatch Thu 11 Aug 2022 06:12

    The Nasdaq Composite on Wednesday exited a brutal bear market, while the Dow Jones Industrial Average ended a market correction, as stocks rallied in the wake of a cooler July inflation reading.

    The Nasdaq Composite COMP,

  • Siemens cuts full-year earnings outlook after swinging to a loss Link
    MarketWatch Thu 11 Aug 2022 05:56

    Siemens AG cut the outlook for earnings per share for the full fiscal year after it swung to a loss in its third quarter due to an impairment on its investment in Siemens Energy AG.

    The German industrial conglomerate SIE,

  • California man charged with naming phony film studio Desilu after famed ‘I Love Lucy’ production company to swindle investors Link
    MarketWatch Thu 11 Aug 2022 05:46

    It was nothing to sneeze at.

    A man who co-created the cold remedy, Zicam, has been charged with running a phony movie business called Desilu Studios after the famed production company behind “I Love Lucy” and “Star Trek,” and using cash he attracted for film projects to line his pockets. 

    Charles Hensley, 68, of Redondo Beach, claimed he was...

  • Thyssenkrupp beats forecasts, but cuts net profit guidance for fiscal 2022 Link
    MarketWatch Thu 11 Aug 2022 05:26

    Thyssenkrupp AG on Thursday cut its net profit guidance for fiscal 2022, blaming high interest rates, but backed its other targets for the year after its third-quarter results beat analyst views.

    The German industrial company reported adjusted earnings before interest and taxes of 721 million euros ($742.6 million) for the three months to June 30, up from EUR266 million a year earlier, as sales rose 26% to EUR10.95 billion.

  • Deutsche Telekom lifts guidance again on strong U.S., non-U.S. performances Link
    MarketWatch Thu 11 Aug 2022 05:21

    Deutsche Telekom AG on Thursday raised its guidance for the second time this year, citing good performance at both its T-Mobile US Inc. business and outside the U.S.

    The German telecommunications company reported a net profit of 1.46 billion euros ($1.50 billion) compared with EUR1.88 billion during the same period a year earlier. The fall was mainly due to expenses for the integration of its newly acquired Sprint business in the U.S., it said.

  • Asian shares rally after Wall Street gains on cooling inflation Link
    MarketWatch Thu 11 Aug 2022 05:21

    BANGKOK (AP) — Shares advanced Thursday in Asia after benchmarks closed at three-month highs on Wall Street as investors cheered a report showing inflation cooled more than expected in July.

    Hong Kong, Shanghai and Seoul saw gains of more than 1%. Tokyo was closed for a holiday. U.S. futures edged higher, while oil prices slipped.

    The government...

  • ?? Several states are easing the burden on consumers by offering tax-free shopping this month, which can really help if you're back-to-school shopping. Find out if your state is included: Link
    MarketWatch Thu 11 Aug 2022 05:06

    Looking to save on school supplies and perhaps other necessities? Once again, several states are easing the burden on consumers by offering tax-free shopping in the coming days and weeks for various items.

    Here is a state-by-state list of many of the upcoming sales-tax holidays, according to information supplied by the Federation of Tax Administrators and the state websites.

  • Didn’t win the Mega Millions jackpot? You still need an estate plan — here’s what to do Link
    MarketWatch Thu 11 Aug 2022 04:41

    Whoever won that ginormous Mega Millions $1.337 billion jackpot needs some serious estate planning advice. 

    Sadly, you were not the winner, and neither was I. Even so, I need an estate plan, and you probably do too. Here’s why.

  • Faced with the nation’s worst inflation in four decades, Black, Latino and Native American families are already having more issues affording food, housing and healthcare compared to their white counterparts, a new poll shows. Link
    MarketWatch Thu 11 Aug 2022 04:11

    Faced with the nation’s worst inflation in four decades, Black, Latino and Native American families are already having more issues affording food, housing and healthcare compared to their white counterparts, a new poll shows.

    The findings, released Monday from NPR, the Robert Wood Johnson Foundation and the Harvard T.H. Chan School of Public Health, mirror prior research detailing the ways in which some people of color are worse off as the cost of living soars. 

  • In July, the inflation rate compared to a year ago was 8.5%, lower than 9.1% in June. But the price of food rose 1.3% from June to July, marking a 13.1% increase compared to last year and the largest price increase for groceries since 1979. Link
    MarketWatch Thu 11 Aug 2022 03:46

    The rise in the cost of living cooled in July, but not for grocery prices. 

    The price of food at home rose 1.3% from June to July, marking a 13.1% increase compared to last year. It was the largest price increase for groceries since 1979, according to the U.S. Bureau of Labor Statistics. 

  • Samsung's new Galaxy Z Flip4 phone gets new color options and faster charging capabilities, while the Galaxy Z Fold4 features camera enhancements. Link
    MarketWatch Thu 11 Aug 2022 03:21

    Samsung Electronics Co. Ltd. unveiled its latest batch of foldable phones Wednesday, emphasizing design upgrades, battery improvements, and new camera features.

    The company’s Galaxy Z Flip4 device features a “compact clamshell design” and comes with new fast-charging capabilities. The phone is compatible with Samsung’s 005930,

  • The Federal Trade Commission is expected to begin writing federal rules to expand online privacy protections as soon as Thursday. Link
    MarketWatch Thu 11 Aug 2022 03:06

    WASHINGTON — The Federal Trade Commission is expected to begin writing federal rules to expand online privacy protections as soon as Thursday, according to people familiar with the matter.

    If adopted, the rules could impose significant new responsibilities on businesses that handle consumer data, including potentially barring certain kinds of data collection practices, the people said.

  • A Broadway show will offer select ‘mask-required’ performances. Will the entertainment world follow suit? Link
    MarketWatch Thu 11 Aug 2022 02:41

    Could audiences for shows, concerts and other indoor events soon have the option to attend select performances where masks are required as a COVID-19 safety protocol?

    That’s the question some in the entertainment world are asking in light of the announcement that producers of “The Kite Runner,” a Broadway play based on the novel of the same name, are instituting the mask requirement for all Friday-night performances, starting Aug. 19. During the rest of the week, attendees will have the choice to go mask-free.

    In...

  • The Inflation Reduction Act would invest $369 billion in energy security and climate-change programs over the next 10 years, among other proposed changes. Do the provisions translate to investment opportunities? Energy researchers weighed in. Link
    MarketWatch Thu 11 Aug 2022 02:10
    and more.

    The Inflation Reduction Act will invest $300 billion in deficit reduction and $369 billion in energy security and climate-change programs over the next 10 years, and reduce carbon emissions by approximately 40% by 2030.

    If the bill becomes law —  the legislation is expected to be passed by the House this week — investors may quickly spot some related outcomes. Look at the pop for solar power companies, electric vehicle makers and fuel cell companies on Monday, a day after Senate Democrats eked the bill through on a 51-50 vote.

    Other results may be tougher to see, like the potential bottom line drag for a minimum 15% corporate tax.

    The corporate tax floor and the 1% stock buyback would have a “minimal impact” on earnings expectations, a Citi C,

  • "Based on the latest numbers, analysts at the Senior Citizens’ League calculate that the next COLA for Social Security is likely to come in at 9.6%, equal to an extra $159 a month for a beneficiary on an average benefit of $1,656 per month." Link
    MarketWatch Thu 11 Aug 2022 01:45

    It says something that we are now celebrating an annual inflation figure of “only” 8.5%. The latest rise in the official consumer-price index, off the charts compared to what was normal just a few years ago, is nonetheless well below Wall Street forecasts. Stocks and bonds have both jumped as a result.

    But what does this mean for senior citizens living on Social Security?

  • Cisco Systems disclosed Wednesday that it had been breached by a cyberattack from a hacker associated with a number of well-known cybercrime organizations, but that no critical systems or customer data were affected. Link
    MarketWatch Thu 11 Aug 2022 01:15

    Cisco Systems Inc. disclosed Wednesday that it had been breached by a cyberattack from a hacker associated with a number of well-known cybercrime organizations.

    In a blog post, Cisco Talos — the company’s threat-intelligence business — said it became aware of the attack May 24. It said a hacker used a Cisco employee’s credentials and “conducted a series of sophisticated voice phishing attacks,” ultimately gaining access to its corporate network.

  • Inflation hits each of us differently. Your age, budget and spending priorities affect how you handle rising prices. Link
    MarketWatch Thu 11 Aug 2022 01:05

    It’s easy to think of inflation as an equal-opportunity scourge. But its impact varies by individual. Your age, budget and spending priorities affect how you experience inflation. While rising prices create across-the-board hardship, each of us spends money in our own way, and some types of products and services are rising faster than others.

    When clients fret about inflation, investment advisers respond with the same handholding they provide in market downturns. They assure clients that their long-term financial plan assumes...

  • The Inflation Reduction Act contains a 1% tax on stock buybacks and a 15% minimum tax for large companies. It would also invest $300 billion in deficit reduction and $369 billion in energy security and climate-change programs over the next 10 years. Link
    MarketWatch Thu 11 Aug 2022 00:40
    and more.

    The Inflation Reduction Act will invest $300 billion in deficit reduction and $369 billion in energy security and climate-change programs over the next 10 years, and reduce carbon emissions by approximately 40% by 2030.

    If the bill becomes law —  the legislation is expected to be passed by the House this week — investors may quickly spot some related outcomes. Look at the pop for solar power companies, electric vehicle makers and fuel cell companies on Monday, a day after Senate Democrats eked the bill through on a 51-50 vote.

    Other results may be tougher to see, like the potential bottom line drag for a minimum 15% corporate tax.

    The corporate tax floor and the 1% stock buyback would have a “minimal impact” on earnings expectations, a Citi C,

  • Taxpayers are owed more than $1 billion related to the student loan program — but not from borrowers Link
    MarketWatch Thu 11 Aug 2022 00:10

    After a hiatus for parental leave, I’m back and digging into who pays for schools’ alleged misconduct.

    The debate over expanding the benefits of the student loan program, including canceling loans, is often framed as a battle between taxpayers and borrowers. Provide help to borrowers, critics allege, and other Americans, who didn’t go to...

  • The rise in the cost of living cooled in July, but not for groceries. The price of food at home rose 1.3% from June to July, marking a 13.1% increase compared to last year. It was the largest price increase for groceries since 1979. Link
    MarketWatch Wed 10 Aug 2022 23:45

    The rise in the cost of living cooled in July, but not for grocery prices. 

    The price of food at home rose 1.3% from June to July, marking a 13.1% increase compared to last year. It was the largest price increase for groceries since 1979, according to the U.S. Bureau of Labor Statistics. 

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