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☆ Americans are expected to splurge on travel this summer — again
▼ + stars: | 2024-05-26 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Analysts are expecting the Memorial Day weekend to usher in yet another summer of strong consumer spending on travel and other leisure activities. “We haven’t seen Memorial Day weekend travel numbers like these in almost 20 years,” Paula Twidale, senior vice president at AAA Travel, said in a release. Spending this summer will likely be a little softer than last year’s, they said, but still strong. The bank’s consumer travel survey showed that 72% of people said they’re planning to travel, with 36% saying they’ve already planned their trip. Even among respondents making less than $75,000 a year, more than 60% said they’re planning to travel this summer.

Persons: ” Paula Twidale, Royal Caribbean’s, ” David Tinsley, they’ve, Joelle, aren’t, Dogecoin, Shiba Inu “, Atsuko Sato, ”, Sato, ” Kabosu, Kabosu, Shiba, Loretta Mester, Neel Kashkari, Lisa Cook, Robin, John Williams, Raphael Bostic, Lorie Logan Organizations: CNN Business, Bell, Washington CNN —, Transportation Security Administration, AAA, AAA Travel, Bank of America Institute, Bank of America, Japan, Europe, New York Fed, Public Policy Research, Mizuho Financial, Federal, Global, Index, Board, HP, Dick’s Sporting Goods, Abercrombie, Fitch, Eagle Outfitters, Costco, Dell, Dollar, Hormel, US Commerce Department, US Labor Department, National Association of Realtors, China’s National Bureau of Statistics, Atlanta Fed Locations: Washington, Caribbean, South Korea, Switzerland, Colombia, Costa Rica, Canada, Mexico, Domestically , California, Florida, California, “, Sakura, CAVA, Chewy, Burlington, Birkenstock, Nordstrom, Kohl’s

☆ The pandemic has changed when Americans expect to retire
▼ + stars: | 2024-05-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Most non-retired adults have some type of retirement savings, but only 36% think their savings are on track. New research from economists at the Federal Reserve Bank of New York finds that this retirement savings deficit hasn’t made a dent in when Americans plan to exit, or partially exit, the workforce. “The pandemic-induced change in retirement expectations may continue to affect the labor market in years to come,” they wrote. Yes, but: This is a survey of expectations, researchers at the New York Fed are quick to point out. Just because Americans say they plan to shift to part-time work or retire early, it doesn’t mean that they’ll be able to.

Persons: Felix Aidala, Gizem Kosar, Wilbert van der, ”, They’re, Alicia Wallace, delinquencies, Joelle, CNN’s Parija, Donna Morris, Morris, ” Morris Organizations: CNN Business, Bell, New York CNN, Census, Federal Reserve Bank of New York, Social Security, New, Survey, SCE, triannual, Social, Social Security Agency, Lawmakers, New York Fed, Federal Reserve Bank of New, “, Public Policy Research, Credit, Walmart, CNN, San Francisco Bay Area Locations: New York, United States, York, Federal Reserve Bank of New York, Bentonville , Arkansas, Walmart’s Dallas, Atlanta, Toronto, Bentonville, San Francisco Bay, Hoboken , New Jersey

☆ Debt — and delinquencies — are on the rise for Americans
▼ + stars: | 2024-05-14 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

New data released Tuesday by the Federal Reserve Bank of New York showed that as household debt balances grew during the first quarter, delinquencies also marched higher. Notably, the percentage of credit card balances in serious delinquency (90 days or more late) climbed to its highest level since 2012. The transitions into delinquency — especially serious delinquency — increased across all debt types, according to the report. Overall household debt grew by 1.1% during the first quarter to $17.69 trillion, according to data that is not adjusted for inflation. Credit card balances dipped (as they typically do post-holidays) by $14 billion to $1.12 trillion.

Persons: delinquencies, Joelle, Delinquencies Organizations: CNN, Federal Reserve Bank of New, “, Public Policy Research, New York Fed, Credit Locations: Federal Reserve Bank of New York, York, New

NEW YORK (AP) — When families thank Marlo Thomas for the medical treatment they received at St. Jude Children’s Research Hospital, she kindly corrects them. “And we’ve kept it.”Political Cartoons View All 1260 ImagesAccording to Fidelity Charitable’s annual ranking of the most popular nonprofits supported by its donor-advised funds, St. Jude Children’s Research Hospital ranks No. Nonprofit ratings organization Charity Navigator says St. Jude ranks third among its most-followed charities, behind Doctors Without Borders and the American Red Cross. In the U.S., the survival rate for childhood cancer is now 80%, up from 20% when St. Jude first opened its doors. Russian bombings during the war made it impossible for the children to continue their cancer treatment at hospitals in Ukraine.

Persons: Marlo Thomas, Jude Children’s, “, I’m, ”, Thomas, Danny Thomas, St, Jude, ” Marlo Thomas, Kevin Scally, Charity, ” Scally, that’s, Tony –, ’ ” Thomas, it’s, Frank Sinatra, Nat King Cole, George Burns, Robin Williams –, –, Jennifer Aniston, Luis Fonzi, Michael Strahan, Jon Hamm, who’ve, ” Thomas, Jude Global, ’ Organizations: St, Jude Children’s Research Hospital, Fidelity, Jude Children’s Research, USA, Nonprofit, Cross, Williams, Jude Global, World Health Organization, Lilly Endowment Inc, AP Locations: “, Memphis, Terre, Sonoma, America, St, United States, U.S, Ukraine, Russian, Switzerland, Egypt

☆ Consumer credit card debt tops $1 trillion for the first time ever
▼ + stars: | 2023-08-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Consumer credit card debt just topped $1 trillion for the first time ever, according to the Federal Reserve. A recent survey from BankRate found 47% of consumers are carrying credit card debt from month to month. Consumer credit card debt increased 4.6% in the second-quarter to a record $1.03 trillion, compared to $986 billion in the first quarter. Lower-income households were more likely to carry credit card debt from month to month, according to the survey, with 53% of cardholders with annual incomes below $50,000 carrying debt. "Yes, that's a lot of credit card debt, but most people are worth a lot more."

Persons: Joelle Scally, BankRate, Bankrate, they're, Scally, Carson, Ryan Detrick Organizations: Federal Reserve, Federal Reserve Bank of New, New York Fed, Fed Locations: York, Federal Reserve Bank of New York, CreditCards.com

☆ Credit card balances jumped in the second quarter and are above $1 trillion for the first time
▼ + stars: | 2023-08-08 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Total credit card indebtedness increased by $45 billion in the April-through-June period, an increase of more than 4%. The Fed's measure of credit card debt 30 or more days late rose to 7.2% in the second quarter, up from 6.5% in Q1 and the highest rate since the first quarter of 2012 though close to the long-run normal, central bank officials said. Total debt delinquency edged higher to 3.18% from 3%. "Credit card balances saw brisk growth in the second quarter," said Joelle Scally, regional economic principal within the Household and Public Policy Research Division at the New York Fed. Newly originated mortgages rose by $393 billion though total mortgage debt nudged lower to just over $12 trillion.

Persons: Joelle Organizations: New York Federal Reserve, Public Policy Research, New York Fed, Auto

☆ As credit card debt tops $1 trillion for the first time, 'a huge test' for cardholders is coming
▼ + stars: | 2023-08-08 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

watch nowCollectively, Americans now owe more than $1 trillion on credit cards. Total credit card debt rose nearly 5%, or roughly $45 billion, in the second quarter to a new high of $1.03 trillion, according to a new report on household debt from the Federal Reserve Bank of New York. "One trillion dollars in credit card debt is staggering," Schulz added. "Credit card balances saw brisk growth in the second quarter," Joelle Scally, regional economic principal in the New York Fed's research and statistics group, said in a statement. On the heels of another rate hike last month by the Federal Reserve, the average credit card rate is also more than 20% on average, another all-time high.

Persons: Matt Schulz, LendingTree's, Schulz Organizations: Federal Reserve Bank of New, New York Fed, Federal Reserve Locations: Federal Reserve Bank of New York, York

☆ PREVIEW-Soccer-Bayern's bogeyman Gladbach ready for another upset
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Feb 16 (Reuters) - There is no team in the Bundesliga that can boast of having a better record against the mighty Bayern Munich than Borussia Moenchengladbach. Gladbach, in 10th place, are unbeaten against Bayern in their last four encounters across all competitions and another match without defeat would set a new unbeaten club record against the Bavarians. "We will have to see for both of them how it develops over the next few days," said Farke. While Bayern started the year with three straight draws, Julian Nagelmann's team has since bounced back and won their last two league games. "Bayern are in good form and will be highly motivated to deliver against us," said Farke.

☆ Herschel Walker had ties to two charities that appear to have engaged in little, if any charity
▼ + stars: | 2022-12-05 | by ( Hanna Kang | ) www.businessinsider.com time to read: +11 min

He was also featured in marketing material for the Livio Cares Foundation and was listed as a Livio Cares Partner. However, there is no evidence Livio Cares engaged in philanthropic activities. According to ProPublica's Nonprofit Explorer, Walker was listed as the director of VMP Nutrition Foundation in Fort Worth, Texas. According to the Texas Comptroller of Public Accounts website, the right to transact business in Texas for VMP Nutrition as well as VMP Nutrition Foundation is listed as "forfeited." In 2017, VMP Nutrition and its founder Rodriguez settled a lawsuit filed by Southside Bank for an alleged failure to repay a $2,795,534 lien.

☆ Every World Cup 2022 squad announced: USMNT, Germany, Belgium and more
▼ + stars: | 2022-11-10 | by ( Ben Morse | ) edition.cnn.com time to read: +13 min

CNN —‘Tis the season for wall charts and fans gathering around to pick their starting teams for the 2022 Qatar World Cup. “It’s always difficult when a guy helps you get to the World Cup, he scores three goals in World Cup qualifying and isn’t going to be a part of the program. Again, it’s more about who we did add that we felt good about.”All but one of the 26 will be making their World Cup debut at this year’s tournament and, according to the USMNT, it will be the youngest team to qualify for the World Cup. Octavio Passos/Getty Images Europe/Getty ImagesGhanaManager: Otto AddoThe final squad has not been announced yet. READ: Meet Otto Addo, the coach responsible for guiding some of Europe’s brightest young talents (2021)—–PortugalManager: Fernando SantosThe final squad has not been announced yet.

☆ Be careful before 'quick quitting' and joining the Great Resignation. Your employer may hand you a bill for your job training.
▼ + stars: | 2022-10-19 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Workers quit in high numbers over the past few years — sometimes after being at the job under a year. Some employers are demanding that quitting workers reimburse them for their training costs. Most prevalent in the healthcare, trucking, and retail industries, these agreements can cost quitting workers thousands of dollars. England of charging quitters $6,000 for reimbursed training costs if they leave before a certain period of time. Regardless, many companies say they are well within their rights to demand compensation for training costs when employees part ways.

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