Finance
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US deficit sets record with $1.1 trillion in first five months of fiscal year 2025
The new numbers, released Wednesday, showed the deficit between October 2024, and February 2025. The deficit for February alone was $307 billion.
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Bank of America hit with major leak, releasing customer Social Security numbers, other info: Report
The bank did not reveal how many customers were impacted by the latest. But names, account details, addresses, contact information, date of birth, Social Security numbers and other government IDs of customers were all exposed.
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Dow sees 1,000 point drop before closing down 889 points after Trump declines to rule out recession
The Dow Jones Industrial Average on Monday took about 1,000 point tumble after President Donald Trump on Sunday declined to rule out a possible recession but ended up closing down 889 points, or a 2.08% drop.
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Walgreens seals $10 billion deal to go private with equity firm Sycamore Partners
Walgreens said that Sycamore Partners has agreed to pay $11.45 a share in cash, a deal that could equal up to $23.7 billion after paying off debt and other potential future payouts.
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Best Buy, Target, warn of rising costs due to Trump tariffs and retaliation
Canada and Mexico on Tuesday said they plan to impose tariffs on U.S. goods in retaliation for the U.S. tariffs, with Mexican President Claudia Sheinbaum stating her tariffs will be announced on Sunday if no deal has been reached.
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Stock market closes with a stumble ahead of looming tariffs
The impending tariffs caused the Dow Jones Industrial Average to drop by 649 points, or 1.5%, and the Nasdaq composite dropped 2.6% on Monday. The S&P 500 index dipped 2%.
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Stocks decline on Asian, European markets after Trump imposes tariffs, ahead of Wall Street opening
The U.S. dollar at the same time has strengthened on the currency markets
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Trump's comments in Davos help fuel accusations that banks are closing accounts of conservatives
Confidentiality rules prohibit banks from telling customers who have been "debanked" why their accounts are closed, which critics say provides cover for banks cutting off businesses or individuals for political reasons.
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S&P warns uncertain federal policy could keep inflation above 2%
"Across U.S. public finance, most sectors will experience stable credit quality in 2025," the S&P report noted. "However, credit pressure could arise amid the new administration's federal policy decisions."
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Existing home sales slipped to lowest level since 1995 as prices climb
On a monthly basis, sales of existing homes climbed 2.2% in December to a seasonally adjusted annual rate of 4.24 million, the quickest pace since last February, according to most recent figures from the National Association of Realtors.
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Single-family rentals hit record high prices, '41% over pre-pandemic norms,' Zillow reports
Multi-family rents have gone up 26% over same time.
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Trump signs executive order promoting cryptocurrency advancements
“The digital asset industry plays a crucial role in innovation and economic development in the United States, as well as our Nation’s international leadership,” the executive order reads.
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Janet Yellen says Treasury will take 'extraordinary measures' to avoid hitting debt ceiling Jan 21
It is not clear how long Congress will have to secure a deal on funding or raising the debt ceiling again once the measures are taken, but in the past it has helped stall the default for several months