Young workers will be allowed to contribute up to $22,500 pretax to a 401(k) in 2023, while those 50 and older will be able to sock away $30,000. getty The Internal Revenue Service announced today that young workers will be allowed to contribute up to $22,500 pretax to a 401(k) or similar retirement savings plan… More
Topline Average U.S. gas prices continue to climb back up, increasing for the 14th-straight day Saturday as ongoing issues from the war in Ukraine and Hurricane Ian impact supply â and higher prices at the pump may dampen any optimism about inflation calming. A gas station in California displays elevated prices earlier this week.Getty Images… More
Topline MyPillow chief Mike Lindell, a staunch supporter of former president Donald Trump, has sued the FBI for seizing his cellphone at a Hardeeâs drive-through last week, alleging the agency violated his rights as he continues to peddle unsupported conspiracies about the 2020 election. MyPillow CEO Mike Lindell sued the FBI for allegedly violating his… More
Topline Ethereum, the blockchain that powers large swathes of the crypto ecosystem and underpins the worldâs second-largest cryptocurrency, completed a transformational software upgrade on Thursday, its co-founder Vitalik Buterin announced on Twitter, a landmark in digital history that could help the sector shed its environmentally unfriendly reputation and pave the way for wider mainstream adoption.… More
Topline A gallon of gas costs just above $3 in Texas, Arkansas, Louisiana and Mississippi, as the national average dropped below $3.75 amid a nationwide decrease in prices, even as inflation remains high. Gas prices dropped to just above $3 in states across the South, as the national average for a gallon … [+] of… More
Topline A water crisis that has left around 150,000 people without clean drinking water in Jackson, Mississippi, shows no signs of ending anytime soon, with officials saying a boil water notice will continue at least through the weekend despite the city claiming improvements. A sink slowly fills with water on September 1, 2022 in Jackson,… More
Topline Russian forces retreated from Kharkiv, officials confirmed Saturday morning, as the Ukrainian military reclaimed key territory in a counter-offensive in the eastern region in one of the biggest gains for Ukraine since the start of the war in February. Ukrainian forces advanced into Russian-held territory in the eastern Kharkiv region, officials … [+] stated… More
Topline The stock market surged higher on Friday, with stocks on pace to snap a three-week losing streak as investors shook off Federal Reserve Chair Jerome Powellâs recent comments about more interest rate hikes from the central bank for the foreseeable future. Stocks have moved higher this week despite rising expectations for another big rate… More
Topline The stock market moved higher on Thursday even as recession fears continued and investors assessed comments from Federal Reserve Chair Jerome Powell, who pledged that the central bank is âstrongly committedâ to bringing down inflation with rate hikes for the foreseeable future. Fed officials are warning that they wonât pause or reverse rate hikes… More
Topline Shares of struggling retailer Bed Bath & Beyond traded sharply lower on Tuesday following the death of chief financial officer Gustavo Arnal over the weekend, which was later ruled as a suicide by the New York City Medical Examinerâs Office. The company has appointed its chief accounting officer as interim CFO. Moment Editorial/Getty Images… More
Topline Bed Bath & Beyond CFO Gustavo Arnal died Friday after falling from a skyscraper in New Yorkâs Tribeca neighborhood, local police and the home goods giant confirmed Sunday, as the company grapples with store closures, layoffs and falling share prices. Customers leave a Bed Bath & Beyond store in Larkspur, California, on August 31.Getty… More
Topline âPharma Broâ Martin Shkreli, a former hedge fund manager who was convicted of securities fraud in 2017 and released from prison this past May, has made a big re-emergence on social media in recent months, giving out investment adviceâand looking for suggestions for his return to New York. The notorious investor is reemerging from… More
Topline The stock market tanked on Friday despite the August jobs report coming in slightly lower than expected and dropping significantly from last month, which did little to ease investor concerns about more aggressive interest rate hikes from the Federal Reserve plunging the economy into a recession. Stocks added to losses this week despite a… More
Topline Stocks rebounded slightly on Thursdayâreversing some of the steep declines in Augustâas investors continue to worry about a period of prolonged rate hikes from the Federal Reserve, while market experts warn of further volatility ahead and rising recession risks. A strong weekly jobs report wasnât enough to avoid another selloff to start the month.… More
Topline Stocks fell for a third day in a row on Tuesday as the recent summer market rally continues to fizzle out, with investors growing nervous about more big interest rate hikes from the Federal Reserve, which signaled last week that it would continue to tighten monetary policy for âsome timeâ in an effort to… More
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