Stay updated on financial news, market trends, and economic changes that affect your money. From interest rate hikes to government policy shifts, we break down what’s happening now—and what it means for your finances.
The median household income fell in 2010, resulting in an increase in the percentage of people living in poverty for the third year in a row, the government reported on Tuesday. The U.S. Census Bureau said that last year’s median household income of $49,445 was 2.3 percent lower than it was in 2009, and 6.4 … Read more
A solar panel manufacturing plant that received a $535 million loan backed by the Department of Energy announced on Wednesday that they were filing bankruptcy and cutting 1,100 jobs. Solyndra, LLC based in Fremont, CA opened in 2005 and in the spring of 2009 was the first company to be funded with DOE money as … Read more
The U.S. has been hit hard by natural disasters this year. The Groundhog Day blizzard in the Northeast, tornadoes across several regions, drought and wildfires in the Southern Plains and Southwest, and flooding along the Mississippi River and in the Upper Midwest have resulted in an estimated $35 billion in economic damages and the loss … Read more
As Hurricane Irene slams into the East Coast and leaves damage and destruction in its wake, the government warns consumers to be alert for potential scams. Crooks often take advantage of natural disasters to prey upon people who need repairs done to their homes – during a time when the demand for qualified home repair … Read more
Some small business owners in the second quarter of 2011 are feeling better about the economy and expect a gradual but continued improvement, according to a survey released by Capital One Bank on Thursday. “Our second quarter survey results suggest that many small businesses are seeing sustained improvement in business performance. This is a trend … Read more
The housing market is showing no signs of improvement as high unemployment and tough lending standards prevent many from buying a home. Mortgage applications fell 2.4% last week, according to a report released by the Mortgage Bankers Association on Wednesday. Very few applications were for the purchase of a new home – 79.8% of all … Read more
Though getting a summer job has been a student tradition for generations, the tough jobs market has particularly affected young people looking for employment. Youth job participation in July – normally the peak employment month for people ages 16 to 24 – was the worst since the government began keeping track in 1948. Among the … Read more
An operation that allegedly claimed it could help struggling borrowers eliminate debt and clean up their credit histories has been halted by the Federal Trade Commission, the agency reported on Tuesday. The FTC has been working hard at putting a stop to crooks who take advantage of consumers in financial distress – “companies” that lure … Read more
Before swiping their card at any credit or debit card terminal, such as an ATM, DVD rental kiosk, or gas station, consumers should take a moment to inspect the machine to check if it’s been tampered with. Card skimming is becoming more common, the Better Business Bureau warned on Friday. Skimming is a criminal practice … Read more
New home permits and starts dipped slightly in July after showing some signs of strength the month before, according to a government report released on Tuesday. Permits for new homes – an indicator for future building activity – fell 3.2% after a small increase in June. Housing starts – which represents current building activity – … Read more
