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New York CNN —The good news is your child got into college and is preparing to enroll this fall. The bad news is that you’ve just learned the aid package your child’s school is offering is much smaller than you’d hoped. Over four years of college, students can take out a total of up to $27,000. “That’s cash-flow friendly while your child is in college,” Walker said. Also, Bogardus suggests checking to see if your state offers a tuition aid plan or subsidized loan rates for educational expenses.
Persons: you’ve, sobering, , Beth Walker, , ” Walker, they’ve, Joseph Bogardus, it’s, Bogardus, Skip, Walker, you’ll Organizations: New, New York CNN, College Board, Center for College Planning Solutions, College, , Stafford, PLUS Locations: New York, New England, Stafford
New York CNN —If you use a points-and-rewards credit card offered by an airline in partnership with a big bank, how much are the points you’ve accrued worth in dollars? The terms and conditions of such card programs can be confusing and in some instances they can be changed at any time. “For many families looking to finance a trip or a vacation, those [credit card] benefits are really valuable. “[But] our review of all the fine print suggests that credit card companies and airlines have the power to quickly and dramatically devalue those points by making it more challenging to redeem them. Such a drop in revenue, banks argue, could jeopardize the availability of rewards programs.
Persons: you’re, It’s, , Rohit Chopra, Chopra, Transportation Peter Buttigieg, Rob Nichols, ” Nichols, Nichols, Jaret, Seiberg, Biden, Trump Organizations: New, New York CNN, Department of Transportation, Consumer Financial Protection Bureau, Transportation, American Bankers Association, Cowen Washington Research Group Locations: New York, CFPB, U.S
How US presidential election years affect the market
  + stars: | 2024-05-07 | by ( Jeanne Sahadi | ) edition.cnn.com   time to read: +5 min
But if the past century is any guide, the long-term consequences of US presidential election years on investor portfolios, including 401(k)s, is minimal at best. Unsurprisingly, those four presidential election years occurred at times of seismic events: The Great Depression. The S&P 500 alone has generated an average return of 7% during presidential election years since 1952, according to LPL Financial. If you limit that to presidential election years in which the incumbent president is running for reelection, the average jumps to 12.2%. “If you’re not going to make a change in a nonelection year, you shouldn’t do so in a presidential election year,” Mukherjee said.
Persons: TIAA, , Niladri Mukherjee, Jeff Buchbinder, Joe Biden, Donald Trump, ” Mukherjee, Mukherjee, What’s, — Mukherjee, you’re, Daniel Crosby, Crosby Organizations: New, New York CNN, US Bank, , Senate Locations: New York, United States
High-yield savings accountsThe average interest rate on regular bank savings accounts is roughly 0.5% but can run as low as 0.01% at the biggest banks. By contrast, the average on high-yield savings accounts is well over 4%, according to DepositAccounts.com. If you leave it parked in a regular savings account at 0.5%, you’ll get $50 in interest for a year. As with any savings account, banks can lower the rate they offer — also known as the APY — at any time. Money market accounts and money market fundsAlthough money market deposit accounts and money market mutual funds are both generating yields competitive with the best high-yield savings accounts, there are important differences.
Persons: , It’s, , Greg McBride, you’ll, McBride, , ” McBride, Ben Bakkum, Collin Martin, Martin Organizations: New, New York CNN, Federal Reserve, Federal Deposit Insurance Corporation, FDIC, National Credit Union Share Insurance, Securities Investor Protection Corporation, Treasury, Fed, Schwab Center, Financial Research Locations: New York, Schwab.com, United States
Another lawsuit was filed in federal court in the Northern District of Texas by business tax services firm Ryan. “The FTC contends that by using regulation they can simply declare common business practices to be ‘unfair methods of competition’ and thus illegal. “If the FTC can regulate noncompete agreements, then they can decide to regulate or even ban any other business practice. Long delays may be on tap before the rule takes effectThe FTC rule isn’t set to go into effect until 120 days from the day it is published in the Federal Register. In the near term, “I’m generally telling clients to take a wait-and-see approach with respect to the FTC rule while court challenges play out in the next few weeks,” Turinsky said.
Persons: Ryan, , Daniel Turinsky, DLA Piper, Lina Khan, Jake Tapper ”, isn’t, , ” Turinsky, James Witz, ” Witz Organizations: New, New York CNN, Federal Trade Commission, US Chamber of Commerce, Business, Eastern District of Texas, Northern District of, US Chamber, FTC, Chamber, Longview Chamber, Commerce, Federal Locations: New York, United States, Eastern District, Northern District, Northern District of Texas, Longview, Longview , Texas, Texas, Littler
New York CNN —JPMorgan Chase CEO Jamie Dimon is worried about the future of the free world. “The geopolitical situation is probably the most complicated and dangerous since World War II,” Dimon said during a talk at the Economic Club of New York on Tuesday. “The world order that formed after WWII, Bretton Woods, WTO [the World Trade Organization], and the UN is kind of being challenged,” he said. This is not the first time Dimon has warned that the world is on the brink of a massive realignment. The country’s national debt is now over $34.5 trillion, or about $103,000 for every American.
Persons: Jamie Dimon, ” Dimon, Dimon, Bretton, , That’s, , Jerome Powell, Niall Ferguson, Chris Isidore, Tesla, Elon Musk, Jeanne Sahadi, Joe Biden, “ won’t Organizations: CNN Business, Bell, New York CNN, JPMorgan, Economic, of New, World Trade Organization, UN, AAA, NATO, Atlantic Treaty Organization, Federal, Federal Trade Commission, FTC, of Commerce Locations: New York, of New York, Ukraine, NATO, Israel, US, China, Bretton Woods, WTO, Russia
FTC bans employers from using noncompete clauses
  + stars: | 2024-04-23 | by ( Jeanne Sahadi | ) edition.cnn.com   time to read: +5 min
New York CNN —The Federal Trade Commission on Tuesday voted to ban for-profit US employers from making employees sign agreements with noncompete clauses. And – with one exception – it makes currently existing noncompete agreements unenforceable after the rule’s effective date, which is set at 120 days from the rule’s publication in the Federal Register. The rule, however, does allow currently existing noncompete agreements for senior executives to remain in force. The ban would apply nationwide, overriding state laws regarding noncompete agreements. In December of last year, New York State Governor Kathleen Hochul vetoed a bill passed by the state legislature to completely ban noncompete agreements in that state.
Persons: Joe Biden, “ won’t, , Stefanie Camfield, Daryl Joseffer, , ” Joseffer, Neil Bradley, Kathleen Hochul, Anne Clark, Vladeck, Raskin, Clark P.C, Amanda Wait, DLA Piper, Clark Organizations: New, New York CNN, Federal Trade Commission, FTC, of Commerce, Federal Register, Washington , D.C, Engage, Chamber’s Litigation, New York Locations: New York, California, North Dakota, Oklahoma, Washington ,, Colorado , Maryland , Oregon, Rhode
The obligations of a buyer’s agent to youLegally and ethically, buyer’s agents have six key obligations to you. Obedience: While they can make recommendations, a buyer’s agent must follow your instructions, assuming you’re not asking them to do anything illegal. Such a body may be known as the real estate commission, the board of real estate or department of real estate. Find out, too, if the agent has availability that will work with your schedule, said David Kent, founder of The Real Buyer’s Agent in Charleston, South Carolina. It also may include what commission you will pay the agent if the seller of a home you buy hasn’t agreed to pay both the listing agent and the buyer’s agent, which is traditionally how it’s been done.
Persons: , , Amy Lessinger, That’s, ” Lessing, Lessinger, else’s, you’re, RESPA, they’re, Jason Abrams, David Kent, Kent, ” Abrams, Abrams Organizations: New, New York CNN, National Association of Realtors, NAR, National Association of Real, Keller Williams Realty Inc Locations: New York, Charleston , South Carolina
New York CNN —Some H&R Block customers who waited until the last day to file their taxes faced frustrating outages that began Sunday night, according to the company and Downdetector. The IRS had expected “tens of millions” more returns to be filed in the last few days, and many tax filers rely on online services such as H&R Block. The bad gateway error prevented some desktop software users from filing their returns, H&R Block said on X. H&R Block advised customers to either file again or print, file and mail the form to the IRS. “We have notified our clients via an in-product message and as they reach out to customer service that they can now efile their return,” H&R Block said in a statement to CNN.
Persons: Block, X, , CNN’s Jeanne Sahadi Organizations: New, New York CNN, IRS, Block, CNN, Taxpayers, “ Taxpayers, Patriots, District of Columbia Locations: New York, Maine, Massachusetts, District
New York CNN —It’s Tax Day in the United States for most Americans, and there are still plenty of people racing to file their 2023 income tax returns up until the clock strikes midnight. “With the April deadline upon us, we’re seeing a flurry of tax returns coming in during the final hours. So if you’re a last-minute filer, you’re in good company — and even more so if you expect a refund. However, they must pay whatever they still owe the IRS for tax year 2023 by April 15. Do all this even if you relied on a tax program or tax professional to prepare your return.
Persons: We’ve, Danny Werfel, Werfel, don’t, you’re, haven’t, ” Werfel Organizations: New, New York CNN, Patriots, IRS, Locations: New York, United States, Israel, Massachusetts, Maine, Washington, DC
New York CNN —If you haven’t filed your 2023 tax return with the IRS yet and you still owe income tax for last year, the good news is you still have time to rectify those situations before you’re penalized for failing to do so. Some, however, get an extra day or two if they live in Maine, Massachusetts or Washington, DC, due to observed holidays. The IRS has also given an extension to individuals and businesses affected by the October 7 terrorist attacks in Israel. Keep in mind that this is only an extension to file your return and avoid a failure-to-file penalty. If you don’t pay what you owe by your tax-filing deadline you will also be hit with a failure-to-pay penalty.
Persons: Tom O’Saben, O’Saben, you’ve, , you’d, ” O’Saben Organizations: New, New York CNN, IRS, National Association of Tax Locations: New York, Maine , Massachusetts, Washington, DC, Israel
That’s one reason why it’s notable that a new study finds a full 40% of Hispanic and Latino/a professionals in corporate America say they feel it is necessary to change aspects of themselves to succeed at work. “Our findings illuminate hurdles Hispanic and Latino professionals face, including the undue pressure to mask their authentic selves and heritage in pursuit of success,” said Coqual CEO Lanaya Irvin. They were also based on virtual focus groups and interviews with 100 Hispanic and Latino/a professionals and experts. When Hispanic professionals get their foot in the door, or even get promoted, many still find they are stereotyped, overlooked or underappreciated. In addition, the think tank encourages companies to focus more on increasing diversity, strengthening sponsorships of Hispanic professionals and endorsing and funding affinity groups.
Persons: , Lanaya Irvin, “ I’ve, haven’t, , , aren’t Organizations: New, New York CNN, Professionals Locations: New York, America, Spanish, Dominican
New York CNN —If you won big on bets you made for the March Madness men’s and women’s NCAA tournaments, enjoy the money. So if you made bets last year, here’s what you need to do on your 2023 tax return, which is due for most people on April 15. Your winnings also may be subject to state tax, unless you live in the dozen or so states that exempt gambling winnings. It will then be up to you on your tax return to square whether you owe more or less on your winnings. So say you won $1,000 in 2023 at the tables in Vegas, but you lost $1,500 betting on last year’s March Madness tournament.
Persons: , Mark Luscombe, Luscombe, ” Luscombe, Daniel Rahill Organizations: New, New York CNN, NCAA, American Gaming Association, IRS, Wolters Kluwer, Accounting, Wintrust Wealth Management, Illinois CPA Society Locations: New York, Vegas
Ramakrishnan shares his perspectives on the realities of aging, death and immortality. Nobel Prize-winning molecular biologist Venki Ramakrishnan offers his perspective on aging, death and immortality. But biologists don’t believe that aging and death are programmed in the sense that a fertilized egg is programmed to develop into a human being. Larger animals tend to live longer. CNN: What are the societal costs of the quest to cheat aging and death, particularly inequities?
Persons: Harper Collins, Nobel, Venki Ramakrishnan, Venki, they’ve, Jeanne Calment, Dolly, I’m, it’s, Don’t, Steven Johnson, we’re, we’d, It’s, Jessica DuLong, Organizations: CNN, Aging Locations: French, Brooklyn , New York
And — no surprise — you’re also obligated to pay tax on any income or gains you received from your crypto assets last year. If you sold crypto in 2023: You need to calculate whether you had a capital gain or loss. If, instead, you made money on the sale or exchange of your crypto last year, you realized a capital gain. And you may need to report a capital gain or loss on the transaction. You will have to report a $10,000 capital gain too ($20,000-$10,000).
Persons: you’re, Miles Fuller, Fuller, ” Fuller, it’s, bitcoin, That’s, cryptocurrency, , What’s Organizations: New, New York CNN, IRS, Securities and Exchange Commission, SEC Locations: New York, bitcoin
And growth in the percentage of women in senior corporate leadership roles overall barely budged from 2022 to 2023. In 2023, women held just 11.8% of the roughly 15,000 C-suite roles assessed, down from 12.2% the year before, the study found. Gender parity goal imperiledNone of this is to say that there hasn’t been real progress in narrowing the gender gap since 2005. “Across all [senior] roles, women held less than 8% of seats as recently as 2005; versus 22.3% in 2023. If the growth rate remains below average going forward, the goal of reaching gender parity will be much farther out of reach.
Persons: , hasn’t, Organizations: New, New York CNN, P Global Market Intelligence Locations: New York
Work is part of our identity here in a way that people from other countries find at turns fascinating and pathological. The bill would aim to ensure that people aren’t pinged with work emails, texts or calls outside their established work hours, with notable exceptions for emergencies or scheduling issues. If the boss intrudes on your non-work window three times, you can report them and the state could impose fines starting at $100. No one likes pausing Succession to respond to a 9pm request, but the guilt of ignoring it and wondering whether your boss will be mad at you is also, like, not fun. A historically tight labor market has given workers more leverage to negotiate their pay, hours and working conditions.
Persons: CNN Business ’, they’re, , Matt Haney, “ Workers shouldn’t, intrudes, Mike Solana, Ashley Herd, Herd, Haney, FDR, , there’s, she’s, ” Herd, , Jeanne Sahadi Organizations: CNN Business, New York CNN, Lawmakers, State Assembly, “ Workers, Nanny, Fund, Pew, Fair Labor, Act Locations: New York, France, California, Australia, Italy, Portugal, Belgium, “ california
She found her neighbors describing the same rattling, realizing they had experienced an earthquake in a suburb about 20 miles east of New York City. New York City Mayor Eric Adams urged New Yorkers to "go about their normal day.” Brittainy Newman/APUSGS said the earthquake occurred at 10:23 a.m. Three neighboring homes in Newark, New Jersey, were evacuated after residents reported structural damage, according to the city’s public safety director. Good quality New York moment.”In Jersey City, New Jersey, Kristina Fiore was sitting at her desk in her apartment when her building shook for a few seconds. The epicenter was just northeast of Lebanon, New Jersey, less than 50 miles west of New York City, according to the USGS.
Persons: , , Jeanne Evola, Eric Adams, ” Brittainy Newman, David Rodriguez, ” Long, Kathy Hochul, James Oddo, Fritz Fragé, , Fragé, Kevin J, Bethel, ” Bethel, Spencer Platt, Reed Whitmont, Kristina Fiore, Fiore, panicking, Betancur, New York Kennedy, ” Nobody’s Organizations: New, New York CNN, Geological Survey, The New York Police Department, ” New York, New York City, New York City Fire Department, Empire, ” New York Gov, NYC Department of, Newark Public, Emergency Management, Philadelphia Police Department, Getty, Boonton Coffee Co, Earthquakes, Federal Aviation Administration, Newark Liberty, FAA, Amtrak Locations: New York, Washington, New York City, Maine, New Jersey, Square, Long, New, Hoboken , New Jersey, , New Jersey’s Hunterdon County, Lebanon, Newark , New Jersey, Newark, New Jersey’s Essex County, Montclair . In Pennsylvania, Lebanon , New Jersey, Manhattan, Park Slope , Brooklyn, York, Jersey City , New Jersey, Boonton , New Jersey, Philadelphia, AFP, Baltimore
Mortgage lenders will consider lots of different metrics and circumstances when assessing your creditworthiness. Check your credit reports and credit scoresTwo other factors lenders will consider are your credit history and credit score. Kill the credit card debtA key way to improve your credit score is to reduce your credit card debt. “The minute they pull your credit score, it is going to [reflect] what is on my credit card that day,” MBA’s Seiler said. “Because there are many variables that affect an individual consumer’s credit score, we can’t say a specific number of months,” FICO’s Zeibert said.
Persons: , Avi Adler, Sara Zuckerman, Margaret Poe, Poe, you’ll, Eddie Seiler, Joe Zeibert, You’re, ” Adler, MBA’s Seiler, ” FICO’s Zeibert, , ” Seiler, Zuckerman, Adler, ” Zuckerman Organizations: New, New York CNN, Long & Foster, Consumer Financial, Bureau, Mortgage, Association Locations: New York, annualcreditreport.com, TransUnion
I don’t think that’s sunk in,” Jean-Martin Bauer, the World Food Programme’s country director for Haiti, told CNN last week. A server ladles soup into a container as children line up to receive food at a shelter for families displaced by gang violence, in Port-au-Prince, Haiti, Thursday, March 14, 2024. “We’re completely cut off from all supplies, food, medical supplies, you name it,” he said. “Conflict and hunger are closely linked,” Laure Boudinaud, Vulnerability Analysis and Mapping Officer for WFP in Haiti said. Haitian citizens try to get goods at Liceo Marie Jeanne shelter in Port-au-Prince, Haiti, 21 March 2024.
Persons: CNN —, Prince, Ariel Henry, ” Jean, Martin Bauer, Odelyn Joseph, , , Catherine Russell, Dr, Ralph Ternier, Zanmi Lasante, he’s, Ternier, ” Ternier, Hopital Albert Schweitzer, Jean Marc deMatteis, , ” Laure Boudinaud, Liceo Marie Jeanne, Mentor David Lorens, Bauer, we’ve, that’s, ” Bauer, you’re Organizations: CNN, American, UNICEF, United Nations, Roads, Hopital, World Food Programme, Liceo Marie, WFP, Locations: Haiti, Caribbean, Port, Prince, Mirebalais, Artibonite Valley, Artibonite
(The median is the price at which half of homes for sale in an area are more expensive and half are less expensive.) Back in January 2020, a six-figure income was needed in only six states and the District of Columbia. Assuming you make a 20% down payment and get a 30-year fixed-rate mortgage at the average 52-week rate, this map shows you how much household income Bankrate’s analysis found you’ll need to afford the median-priced home in your state. “Manageable” means it won’t exceed 28% of your gross household income. It’s worth noting, too, that the median price of a home in a given state won’t necessarily reflect the median price in the part of the state you’re seeking to buy.
Persons: Bankrate.com Organizations: New, New York CNN, District of Columbia Locations: New York
New York CNN —If you haven’t sent in your 2023 income tax return yet, you have until April 15 to do so. But keep in mind, that extension only gives you more time to file your federal income tax return. The IRS has already received more than 80 million income tax returns for 2023, according to its most recent figures released Friday. Besides a refund, the IRS further notes low- and moderate-income earners also may be eligible to receive the Earned Income Tax Credit. And if you do file and are owed a refund, it may be withheld if you have yet to file your 2021 or 2022 returns.
Persons: haven’t, you’re, David Hubber, ” Hubber Organizations: New, New York CNN, Taxpayers, Patriots, Washington , D.C, IRS, “ Taxpayers, Department, DOJ, DOJ’s Locations: New York, Maine and Massachusetts, Washington ,, Idaho, Pennsylvania
New York CNN —Buying an affordable home in the United States has gotten a lot harder for many people since 2020. A new analysis from Bankrate.com finds that in 22 states and Washington, DC, buyers need a six-figure household income to comfortably afford a typical median-priced home. That’s a lot more than in January 2020, when Bankrate found buyers needed a six-figure income in just six states and the District of Columbia. For instance, Bankrate found that the income needed to buy a median-priced home rose the least in North Dakota (up 9.2%); Illinois (up 27.2%); and Kansas (up 29.3%). The complete Bankrate analysis can be found here.
Persons: Bankrate, , Jeff Ostrowski, , Redfin –, homebuyers, ” Ostrowski Organizations: New, New York CNN, District of Columbia, , United States –, of Columbia, Washington State Locations: New York, United States, Washington, DC, West, California, Hawaii, Massachusetts, Arizona, Colorado, Connecticut, Florida, Idaho, Maine, Maryland, Montana, Nevada, New Hampshire, New Jersey, Oregon, Rhode, Texas, Utah, Vermont, Virginia, South, Midwest, Mississippi, Ohio, Arkansas, Indiana, Kentucky, Tennessee, South Carolina, North Dakota, Illinois, Kansas
London CNN —Six journalists working for independent media outlets in Russia were arrested in a span of just a few hours this week on the eve of the anniversary of American reporter Evan Gershkovich’s detention in the city of Yekaterinburg. The journalists include Antonina Favorskaya, who covered the late Russian opposition leader Alexey Navalny, Reporters Without Borders (RSF) said Thursday. On Friday, Gershkovich marked the grim milestone of one year in Russian detention. Shortly after his arrest, the Wall Street Journal reporter was charged with espionage — an accusation vehemently denied by Gershkovich, his employer and the US government. APThe six journalists, including Favorskaya, were arrested on Wednesday and Thursday, RSF said.
Persons: Evan Gershkovich’s, Antonina Favorskaya, Alexey Navalny, Favorskaya, Gershkovich, Navalny, Alexey Navalny's, RSF, , , Jeanne Cavelier, “ RSF, ” Cavelier, ” RSF, Alexandra Astakhova, Anastasia Musayeva Organizations: London CNN —, Wall Street, US Federal Bureau of, TASS Locations: Russia, Yekaterinburg, Russian, Moscow, Eastern Europe, Central Asia
Harold Terens, 100, and Jeanne Swerlin, 96, met nearly three years ago and are getting married in June. Falling in love is a timeless act, and for Harold Terens, 100, and Jeanne Swerlin, 96, who are smitten with each other, love is an elixir of youth that keeps them both going. Terens and Swerlin love to travel together, but their favorite pastime is simply spending time together in their homes. Courtesy of Harold Terens and Jeanne Swerlin. Harold Terens, 100
Persons: Harold Terens, Jeanne Swerlin, it's, Romeo, Juliet, Jeannie, Terens, Caroline, Whitney, Swerlin, Sol Katz, Harold, Thelma Organizations: CNBC Locations: France, Paris
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