The recent announcement by the U.S. Department of Education regarding interest rates on federal student loans has left parents grappling with some unpleasant news. In the upcoming 2024-2025 academic year, parents looking to avail Direct PLUS loans will be facing a hefty 9.08% interest rate. This rate marks the highest percentage in over three decades,
Friday’s session in the U.S. stock market saw little movement, with the Dow surpassing the 40,000 mark for the first time. Although the Nasdaq Composite and S & P 500 reached intraday records on Thursday, they closed slightly lower. Jim Cramer described the market as “muted,” lacking significant activity in any particular sector. One standout
Chinese authorities have recently announced new support for state-owned enterprises (SOEs) to stimulate the purchase of unsold apartments in an effort to address issues in the real estate sector. The People’s Bank of China has pledged to provide 300 billion yuan ($42.25 billion) to financial institutions to lend to local SOEs for the acquisition of
Richemont, the Swiss luxury group behind renowned brands like Cartier, has seen a significant boost in its shares following the announcement of record full-year sales. Despite a 1% decline in fiscal fourth-quarter sales driven by a slowdown in Asia-Pacific, the company managed to achieve an all-time high of 20.6 billion euros in group sales for
China released economic data indicating a slowdown in consumer growth, alongside robust industrial activity in April. Retail sales only rose by 2.3% from a year ago, falling short of the 3.8% increase forecasted by a Reuters poll. On the other hand, industrial production saw a significant rise of 6.7% year-on-year, surpassing the expected 5.5% growth
The Dow Jones Industrial Average has made history by surpassing the 40,000-point mark, a feat that was unforeseeable just a year ago. This new high has been attributed to a number of factors, including the promise of artificial intelligence enhancing corporate profits and the Federal Reserve potentially lowering interest rates as inflation decreases from its
Amidst the higher inflation rates seen across the US economy, there are certain sectors experiencing a different trend – deflation. This means that prices for certain goods and services are actually declining for consumers. Physical goods such as cars, furniture, and appliances have seen a reduction in prices, along with some groceries and travel expenses,
Walmart’s recent quarterly earnings report surpassed expectations, showcasing the discounter’s ability to navigate challenging economic conditions. The retailer reported impressive gains in e-commerce, driven profits through new ventures such as advertising, and managed to attract a larger share of high-income shoppers. These factors have enabled Walmart to outperform its previous guidance for the full year,
German technology giant Siemens recently disclosed a decrease in profit at its industrial business during the fiscal second quarter. The company reported that its industrial profit amounted to 2.51 billion euro ($2.73 billion) in the three months ending in March, representing a 2% decline from the same period last year. This figure fell short of
Shenzhen, a city in China known for its technological advancements and business-friendly environment, has experienced a significant surge in millionaires over the past decade. According to a recent report by New World Wealth and Henley & Partners, Shenzhen recorded a staggering 140% growth in its millionaire count, outperforming other first-tier cities in China such as