After a major, systemically significant bank crumbled over the weekend, the banking crisis left financial institutions and regulators scrambling Monday to prevent its spread. Credit Suisse, hobbled for decades by mismanagement, scandal and bad bets, finally succumbed to the emerging global banking crisis. Its stunning and rapid takeover by rival UBS, orchestrated by Swiss authorities […]
It has been nearly three years since auto plants around the world started to shut down because of the pandemic. Yet between the pandemic, an acute shortage of semiconductors and other supply chain snarls, vehicle production has never really returned to normal. And prices? Hoo boy. Both new and used prices have stopped skyrocketing. In […]
s head of PAWS Atlanta, Joe Labriola can get a good sense of the region’s economic well-being from the day-to-day activity of the city’s oldest no-kill animal shelter. Through the course of the past year, it’s become increasingly clear to him that people in the area are struggling under the weight of inflation and economic […]
Following a year marked by record inflation, rising interest rates and a volatile stock market, many Americans found themselves in a worse financial situation at the start of 2023. In fact, 50% of Americans said they are worse off than they were a year ago, according to a Gallup poll conducted in January, only the […]
Despite rising slightly by midweek, gas prices remained cheaper than last week, but a switch to more expensive summer-blend gasoline could change that, according to the latest report from AAA. The national average cost for a gallon of gas dropped to $3.37, two cents less than last week but a penny more than the cost […]
Chris Martin knew he needed a bigger car as the birth of his fourth child approached, but he and his wife were already $14,000 underwater on their two vehicles. So the couple proposed an unusual two-for-one deal with an Atlanta-area auto dealer in 2020: trading in both of their vehicles so they could afford a […]
Something unexpected is going on in the U.S. economy. Inflation remains high, yet many Americans went on a spending spree last month, eating out at restaurants and shopping for cars. In ordinary times, that additional spending would be welcome news to an economy that’s heavily dependent on consumer dollars. But there’s a catch: All that […]
U.S. homeowners have lost a staggering $2.3 trillion in market value since June as higher interest rates drive down demand in the formerly red-hot housing market, and many economists predict the decline will continue throughout the year, as mortgage costs remain elevated and keep sidelining potential buyers. The total value of U.S. homes has fallen […]
California’s population fell by 500,000 people between April 2020 and July 2022 as residents fled the state in droves to find greener pastures. Census data showed migration out of the state surpassed those coming into the state by more than 700,000 throughout the two-year period, according to the Los Angeles Times. California’s major cities have […]
Computer manufacturer Dell is set to cut about 6,650 jobs representing 5 percent of its global workforce, according to a report from Bloomberg. Announced in a memo on Monday, Dell Co-Chief Operating Officer Jeff Clarke said that the company’s previous cost-cutting measures, such as a pause on hiring and limitations on travel, have proved insufficient, […]
In the wake of the COVID-19 pandemic, conversations around workplace burnout and mental health are coming to the forefront. One of the groups leading the charge to bring these issues to light is millennials. But are some millennials taking matters too far? Millennials, or those born between 1981 and 1996, are coming under fire after […]
Undergraduate college enrollment is continuing its years-long decline, though at a much less drastic rate than during the pandemic. According to data released Thursday, Feb. 2, U.S. colleges and universities saw a drop of just 94,000 undergraduate students, or 0.6%, between the fall of 2021 and 2022. This follows a historic decline that began in […]
