Economy

16 May 2024, 17:04

India to surpass Japan, become world's fourth largest economy worth USD 4 trillion, in FY25: EAC-PM member

India will be a USD 4 trillion economy in 2024-25 and surpass Japan by early next fiscal to become the world's fourth largest economy, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal said on Thursday. Sanyal further said that a 7 per cent economic growth rate will be a 'very good' growth rate for India, given various constraints, including the country's weak exports.

16 May 2024, 00:32

Student-loan borrowers just got 2 extra months to benefit from a temporary debt relief reform

Student-loan borrowers now have until June 30 to consolidate their loans and get the one-time account adjustments, moving closer to forgiveness.

15 May 2024, 22:51

Jamie Dimon says China's relationship with Russia will make it difficult for the US to fully engage with it

"We should count our blessings, be strategic, be very thoughtful, fully engage with China. They're not an enemy — but they're competing."

15 May 2024, 22:22

A 63-year-old working 2 jobs is worried about retirement. She says she's been overeducated and underpaid her entire career.

Cathy, a 63-year-old clerical worker in Minnesota, fears she may never be able to fully retire, even though she's worked her entire life.

15 May 2024, 19:49

Inflation slightly cooled off in April as expected

The Consumer Price Index increased by 3.4% in April from a year ago, matching the forecast.

15 May 2024, 19:03

Welcome to the red-hot blue-collar job boom

Walmart and UPS offer six-figure salaries and lucrative benefits. White-collar workers, meanwhile, are facing layoffs and AI overlords.

15 May 2024, 18:19

People are raiding their savings and racking up debt, paving the way for economic pain, expert warns

Soaring prices and borrowing costs mean people are spending nearly every dollar they have just to stay afloat, top economist Stephanie Pomboy said.

15 May 2024, 16:29

Over half of Gen Z and millennials are living paycheck to paycheck — and college is one of the first things they're cutting from their budgets

A new Deloitte report found that the cost of living is a key reason millennials and Gen Z are choosing to forego higher education.

15 May 2024, 04:27

'The economy and stock market have never seen anything like this': There's an unprecedented number of recession signs flashing, veteran strategist says

The next recession has likely been postponed by the trillions of dollars of stimulus spent during the pandemic, one Wall Street vet says.

15 May 2024, 02:28

Russia's economy can't avoid a crisis forever and it's becoming more vulnerable to shocks, think tank researcher says

A researcher at the think tank CEPA wrote that the war is sapping Russia's economy, leaving economic policymakers with little room to maneuver.

15 May 2024, 00:43

Hackers really, really like trying to take over your food delivery apps

One-fifth of food delivery accounts from services like DoorDash and Uber Eats have been targeted by hackers, Sift said — more than other industries.

14 May 2024, 20:32

Don't call them DINKs. Many childfree adults are ALICEs.

Half of Americans living in deep poverty are childfree adults because it's harder to access certain tax and government assistance without kids.

14 May 2024, 17:22

Americans with a college degree say they'd need at least a $100K salary to change jobs. But roles that pay in that range are getting harder to find.

It'll take at least a $100,000 salary to convince Americans with a degree to change jobs, New York Fed survey finds.

14 May 2024, 16:40

Austin offers the jobs and city life of San Francisco but with Atlanta's cost of living. Here's how.

Even as housing costs have risen over the last several years, Austin has managed to maintain a relatively affordable cost of living.

14 May 2024, 16:40

10 cities where Social Security and retirement incomes are the highest

Arlington, Virginia ranked highest in retirement account and Social Security income, followed by Cambridge, Massachusetts.

14 May 2024, 14:57

The US dollar has become so weaponized that central banks are snapping up politically-neutral gold

Gold is seen as a politically neutral, safe asset, insulated from sanctions. China has doubled down on the metal in the last eight years.

14 May 2024, 12:12

I live on a boat to help me pay off my $80,000 student-loan debt. Living this way has expenses, but I think there's a financial upside.

Cody Plante regrets his graduate school loans and said now he may die with some debt if he doesn't lower his expenses and increase his income.

14 May 2024, 08:38

An ancient coin collection worth $72 million is headed to auction after 100 years of secrecy

A Danish butter tycoon's $72 million coin collection is headed to auction 100 years after his death.

14 May 2024, 00:38

Why a debt-fueled US economy is facing a hard landing in 2025, chief economist says

"Once people do begin to lose their jobs, once the economy does begin to slow down, you already have a lot of distress," Torsten Slok told Bloomberg.

13 May 2024, 23:28

Meet the millennials who made all the right money moves in the pandemic economy — and are suddenly wealthy

Millennials' average wealth doubled in the last four years, leaving some surprised to realize that they're suddenly doing very well.

13 May 2024, 21:18

Putin's latest political move shows Russia's wartime economy is here to stay

Putin's appointment of a civilian economist as defense minister signals Russia's military-industrial complex is now key to its wartime economy.

13 May 2024, 20:38

We've entered a world of zombie inflation. Wall Street is scared witless.

The sudden resurgence of inflation has caused some more alarmist analysts to suggest that the US economy is in deep trouble.

13 May 2024, 16:18

Arizona is a cautionary tale for school vouchers as a wave of states are giving parents cash to send their kids to private school

A new Brookings report found Arizona's universal education savings accounts are primarily going to wealthy families. It's a red flag for other states.