U.S. GDP contracted a record 32.9% in the second quarter from a year ago, the Commerce Department said on Thursday, while a separate report showed jobless claims rising for the second consecutive week as the COVID-19 pandemic spins out of control. The economic contraction caused by the pandemic was four times worse than the […]
BRITS overspend by £2billion a year on their energy bills because they fail to change suppliers, campaigners say. Over 11 million households remain with the same supplier for over 12 months and have missed out on a potential average annual saving of £187, according research from Look After My Bills. Brits are missing out on […]
WOW AIR was still selling tickets to passengers this morning despite it cancelling flights earlier this week amid crisis talks about the business. Consumer organisation Which? says it found Wow Air flights on sale at 7am today as well as late last night. Which? found flights being sold by Wow Air just before it went […]
Former Vice President Joe Biden blasted big banks for failing to reserve enough Payroll Protection Program funds for small businesses and called corporate America “greedy as hell” after taxpayers “bailed their asses out” in 2008 when they were near insolvency. The nation’s largest banks are “only alive because of the American taxpayer,” yet they […]
U.S. employers unexpectedly put the brakes on hiring in November, according to ADP Research Institute and Moody’s Analytics. Private sector employment increased by 67,000 jobs, dropping 45% from the prior month’s pace, according to the jobs report issued on Wednesday. Economists expected an increase of 150,000 jobs in November, according to the average estimate in a […]
Just one day after unveiling sweeping reforms to the Community Reinvestment Act, Comptroller of the Currency Joseph Otting has stepped down from his role as one of the nation’s top banking regulators. On Wednesday, Otting’s OCC released its final rule on “strengthening and modernizing” the CRA, which requires banks to meet the credit needs of […]
The Impartial Bean Using the price of a coffee to estimate currency value Like any other market, there are many opinions on what a currency ought to be worth relative to others. With certain currencies, that spectrum of opinions is fairly narrow. As an example, for the world’s most traded currency – the U.S. dollar […]
PET owners have seen the price of insuring their beloved animals fall for the first time in eight years – but if you’re on certain benefits you may qualify for free help. Average policy prices fell by £2 from £281 a year in 2017 to £279 a year in 2018. Pet owners may qualify for […]
How do you spend your hard-earned money? Whether you are extremely frugal, or you’re known to indulge in the finer things in life, how you allocate your spending is partially a function of how much cash you have coming in the door. Simply put, the more income a household generates, the higher the portion that […]
The Federal Housing Finance Agency (FHFA) announced on Wednesday that its single-family and multifamily affordable housing goals for Fannie Mae and Freddie Mac will remain unchanged from those set in 2018-2020. However, unlike previous goals set for a three-year period, the FHFA announced the benchmarks for 2021 only, citing economic uncertainty from the COVID-19 pandemic. The affordable housing goals […]
