Recent findings reveal a troubling reality—while ordinary Americans struggle to make ends meet, the United States continues to birth multimillionaires at an alarming rate. According to Knight Frank’s latest Wealth Report, the number of individuals with assets exceeding $10 million soared by 5.2% in North America in 2024, contributing to a global increase of 4.4%.
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The recent wave of staff cuts at the Department of Education, spearheaded by the Trump administration, is sending shockwaves through the community of federal student loan borrowers. With nearly 800 complaint cases left unresolved and fewer employees available to assist, a crisis is unfolding that places the financial futures of millions in jeopardy. As 42
Macy’s recent financial report has triggered a volley of reactions among investors and analysts alike. The latest quarter yielded an overall mixed bag of results that leave much to be desired. Comparable sales during the holiday season exhibited a decline of 1.1%, a stark reminder of the challenges facing the once-beloved department store. This drop
China finds itself at a crossroads, grappling with an opportunistic fiscal policy landscape shaped by both domestic challenges and international pressures. Finance Minister Lan Fo’an recently made waves by asserting that the nation has ample maneuverability in fiscal policy despite the looming external uncertainties. This viewpoint, articulated during the “Two Sessions”—an annual gathering critical for
In July, CrowdStrike faced a debilitating IT outage that rippled through their business like a tidal wave, causing not just disruptions but a palpable loss of investor confidence. The recent 9% drop in their stock value following their lackluster earnings guidance is a stark reflection of how management has underestimated the repercussions of this debacle.
President Donald Trump’s pledge to “make America affordable again” seems more like a hollow campaign slogan than viable policy. The announcement of new tariffs on Canadian and Mexican imports, along with a renewed escalatory move against China, underlines the irony of his commitment. These tariffs, claimed to shield American jobs and industries, will inevitably lead
Last year marked a pivotal moment in the world of real estate, with the construction of nearly 600,000 multifamily rental units—the most significant leap in the last four decades. At first glance, this influx of new apartments might inspire optimism. One would think that with such unprecedented development, the dire rental market would finally find
The mortgage market is experiencing a surprising resurgence, illustrating the delicate relationship between interest rates and consumer sentiment. Recent figures show a remarkable 20.4% increase in mortgage application volume compared to the prior week, as reported by the Mortgage Bankers Association. This spike comes as a breath of fresh air after a prolonged period of
In a bold move that has resonated through the corridors of global power, China has announced a staggering 7.2% increase in its defense spending for the 2025 fiscal year, bringing the total to 1.78 trillion yuan, or approximately $244.99 billion. Significantly, this annual growth rate has remained consistent over the past several years, as China
Buying a home has always been a significant milestone for many, symbolizing stability and financial success. However, the current landscape reveals a challenging environment for aspiring homeowners, with rising home prices and increasing down payment expectations creating barriers for many would-be buyers. A recent report indicates that the median down payment for home purchases surged