The Commerce Department has revised down its growth rate in the fourth quarter of 2022 to 2.7 percent. Its previous estimate was 2.9 percent, which was still down from the 3.2 percent growth rate from July through September, suggesting that economic growth is slowing but remains steady.
FED MINUTES UPDATE
The minutes from the latest Federal Reserve FOMC meeting shows officials acknowledging that inflation is coming down but not enough to reverse course on more interest rate hikes.
SHRINKING MORTGAGE FEES
The Biden administration is lowering insurance premiums for borrowers who take out loans insured by the Federal Housing Administration. The move will save an estimated 850,000 homeowners an average of $800 on home financing costs. The annual premium will drop from 0.85 percent to 0.55 percent.
BILL GATES BUYS HEINEKEN STAKE
Bill Gates has purchased a $902 million stake in Heineken, according to the Netherlands Financial Markets Authority. He bought the shares, which represent 3.8 percent share of the company's value, from Mexico's FEMSA. Gates bought 6.65 million shares in an individual capacity, and Bill & Melinda Gates Foundation Trust bought 4.18 million shares.
TESLA STAYING IN CALIFORNIA
Elon Musk says Tesla is staying in California for the foreseeable future. The electric vehicle maker will make the Golden State its global engineering home, while its corporate headquarters will remain in Texas. Tesla's plant in Fremont, California, will increase production this year to more than 600,000 vehicles.
MERCEDES BENZ-GOOGLE PARTNERSHIP
Mercedes-Benz and Google have announced a long-term partnership to bring supercomputers into automobiles. The automaker will use Google technology to develop a branded navigation experience based on in-car data and Google's Maps platform. The deal essentially gives Mercedes-Benz access to the latest Google geospatial technology.
Not only is April Financial Literacy Month, it’s also the kickoff of the spring homebuying season. So now is the time to make sure you have a financial plan in place – and why it might not be wise for that to include buying your first home.
While the U.S. may slowly be on the path to lowering inflation (and therefore interest rates), Europe has thoroughly trounced America, putting it on the path to lower rates by this summer.
April's release of the monthly Housing Starts and Building Permits reports by the Census Bureau provides crucial insights into the construction activity in the housing market. These reports are an economic indicator, shedding light on the current state of the housing market and its broader economic impact.
Caitlin Clark is heading to the Indiana Fever, the number one draft pick and the highest-scoring college basketball player of all time. And while she may not be getting millions from the WNBA, there's a few ways she'll net compensation for her generational talents.
Author of 'Clean Meat,' Paul Shapiro joins Cheddar to discuss how the cellular agricultural revolution helps lower rates of foodborne illness and greatly improves environmental sustainability. Plus, how his company The Better Meat Co. is bringing healthier food options to the table.
Recent headlines might make it sound like World War III is imminent, but when it comes to your finances, it's not the time to panic. The market is coming off its longest winning streak since 2011.
You may have noticed fewer new venture capital-backed startups (like Airbnb or Uber) lately. The market slowed to a crawl after 2021, but things are expected to take off again in 2025.
Corporate earnings season is underway, that time when companies share their billions in sales or double-digit profits. But the data shows even companies are struggling with high inflation and interest rates.
Boeing continues their terrifying trend of having their planes fall apart mid-flight, inflation — checks notes — is still up and the future of AI looks terrifying. Cheery!
Food waste – uneaten scraps or leftovers sent to landfills – is responsible for 10% of global emissions. Mill, a new product from the co-founder of Nest, thinks technology can play a role in eliminating it.
