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Introduction to the federal funds rateDefinition and purpose of the federal fund rateThe federal funds rate, or fed funds rate, is the interest rate set by the Federal Open Markets Committee. The Federal Reserve lowered the federal fund rate on September 19, 2024, to stop aggressive inflation and prevent a recession. Today, the federal fund rate is 5.00%, with the federal fund target rate being 4.75% to 5.00%. How the federal funds rate worksThe federal funds rate, or the overnight rate, is the interest commercial banks charge when they lend money to one another for extremely short-term periods — literally, overnight. Federal funds rate FAQsWhat happens when the federal funds rate is high?

Persons: Karen Fernandez Tessa Campbell, Tessa Campbell, Tessa, she’s Organizations: Federal Reserve, Federal, Federal Open Markets, Fed, Market, Fed's, Governors, Federal Reserve Bank, Susquehanna University

☆ Feds trying to build an attempted assassination case against man accused in Trump incident
▼ + stars: | 2024-09-19 | by ( Zachary Cohen | Evan Perez | ) edition.cnn.com time to read: +7 min

So far, there is no evidence indicating the suspect was motivated or instructed by foreign elements to target Trump. But prosecutors and investigators have made clear that they view the incident as an apparent plot to kill the former president and are working to build a case with those additional charges. He had not made any threats, for instance, against the president or former president Trump,” Berger said. “You are free to assassinate Trump,” Routh also wrote of Iran in the apparently self-published book. Those posts, on their own, would likely not be enough to charge Routh with attempting to assassinate Trump, according to Aronberg.

Persons: Donald Trump, Ryan Wesley Routh’s, Routh, Routh didn’t, Ryan Routh, David Aronberg, ” Aronberg, ”, Chelsea Walsh, Walsh, Katrina Berger, Berger, Trump, ” Berger, HSI, Butler, “, ” Routh Organizations: CNN, Federal, Trump, FBI, Service, . NY, Beach, Customs, Border Patrol, Security Investigations, HSI, Capitol, Global Citizen Locations: Florida, Trump, West Palm Beach , Florida, North Carolina, Hawaii, Ukraine, Kyiv, Butler , Pennsylvania, Iran, Taiwan, North Korea, Afghanistan, Tehran, Moscow, “

☆ How Elon Musk amplified content from a suspected Russian election interference plot
▼ + stars: | 2024-09-18 | by ( David Ingram | David Ingram Is A Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +9 min

Musk did not respond to an email Tuesday asking about the Radio Free Europe/Radio Liberty report and about his sharing of Tenet Media content. Representatives for X also did not respond to a request for comment about Musk or about X’s handling of Tenet content. In posts on X, Musk has appeared unconcerned about Russia’s influence operations. The day after the indictment dropped, Musk accused The Associated Press of pushing anti-Trump “propaganda” in its coverage of Tenet Media. Southern and other commentators formerly employed by Tenet Media have said that they did nothing wrong.

Persons: Elon Musk, Tenet’s, Donald Trump, Trump, Musk’s reshare, Tenet, Dave Rubin, Benny Johnson, Christopher Wray, ” Tenet, Volodymyr Zelenskyy, Musk, X, Ben Shapiro, Josephine Lukito, ” Lukito, ”, Tim Pool, Rubin’s, Sen, Mark R, Martin Riedl, Lauren Southern, “, ” Musk, ” Southern Organizations: Elon, Tenet Media, NBC, Republican, White, Tenet, Radio Free, Radio Liberty, Social Design Agency, Associated Press, Trump, University of Texas, “, Tech, Senate Intelligence, Meta, Microsoft, Warner, Democratic, CNBC, School of Journalism, Media, University of Tennessee, NASA Locations: Russian, Russia, Radio Free Europe, Moscow, Knoxville, Europe

☆ Home Depot to pay nearly $2 million to settle suit alleging it overcharged shoppers
▼ + stars: | 2024-09-18 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Dennis-Romero-Circle-Byline-Template.Jpg | Dennis Romero | ) www.nbcnews.com time to read: +2 min

SAN DIEGO — The Home Depot agreed to a nearly $2 million settlement in a case that alleged it overcharged customers, charging more for items at checkout than the items' advertised prices. In an emailed statement responding to a request for comment about the settlement, Home Depot said, “To ensure consistency for our customers, we’ve updated the timing of our price changes." The settlement includes $1.7 million to be divided among the district attorneys' offices of Los Angeles, San Diego, Orange, Alameda, San Bernardino and Sonoma counties for consumer law enforcement. "This settlement is a clear message that such behavior will not be tolerated and underscores our commitment to safeguarding the rights of consumers in our community," Gascón said. Home Depot, based in Atlanta, reported in a proxy statement in May that it earned nearly $22 billion in operating profit for the 2023 fiscal year.

Persons: “, Judge Richard S, George Gascón, Gascón Organizations: DIEGO, Superior Court, Depot, Whitney Locations: California, San Diego, Angeles County, Los Angeles, San Diego , Orange, Alameda, San Bernardino, Sonoma, Sacramento County, Atlanta

☆ The Fed rate cut will boost these kinds of stocks the most, according to UBS
▼ + stars: | 2024-09-18 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

The Federal Reserve's interest rate cut will give a boost to these stocks, according to UBS. UBS strategist Patrick Palfrey identified stocks that have historically outperformed when the Fed lowers interest rates, a move that he expects will especially benefit smaller, more volatile and less-efficient companies. He expects this is true across the large-cap and small-cap universes represented by the S & P 500 and Russell 2000. Here are five S & P 500 stocks UBS expects can benefit most. By comparison, the SPDR S & P Regional Banking ETF (KRE) is up more than 8% year to date.

Persons: Patrick Palfrey, Russell, Palfrey Organizations: UBS, Regional Banking, CNBC, Moderna, Resources, National Bank Financial, Perpetua Resources Locations: ROE, Cleveland , Ohio, Idaho

☆ GM's EV drivers are finally getting access to the Tesla Supercharger network
▼ + stars: | 2024-09-18 | by ( Nora Naughton | ) www.businessinsider.com time to read: +1 min

GM is the latest company to get access to Tesla's Superchargers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGeneral Motors is the latest car company to grant its drivers access to Tesla's vast Supercharger network. This is the latest move by GM to improve charging access for its EV customers. With the addition of the Supercharger network, GM drivers can now charge at more than 231,800 Level 2 and DC fast chargers across North America, according to the Detroit-based automaker.

Persons: Superchargers, Tesla's, — Organizations: Service, GM, Chevrolet, Cadillac, EV, Business Locations: North America, Detroit

☆ Georgia is rich in EV money and jobs
▼ + stars: | 2024-09-18 | by ( John Towfighi | ) www.businessinsider.com time to read: +6 min

Since 2022, the Peach State has added over 30,000 clean energy jobs, more than any other state, according to a June study by Climate Power, a strategic communications firm. The Bipartisan Infrastructure Law allocated over $175 million toward the EV battery supply chain in Georgia and $135 million over five years toward infrastructure for EV charging stations in Georgia. Investments in EV and battery manufacturing will boost job growth and output in both of these sectors, Benson said. Strong population growth remains a tailwind for Georgia's economic growth and EV industry, Benson said. Between 2021 and 2022, there were 327,795 people who moved into Georgia, according to data from the Census Bureau.

Persons: —, Wells, Jackie Benson, Brian Kemp, It's, Biden, Benson Organizations: Service, Business, Peach State, Climate Power, Investments, Atlanta -, EV, Atlas Public, Environmental Defense Fund, Biden Administration, Law, Infrastructure Law, Hyundai, Kia, The Peach State Locations: Georgia, Wells, Atlanta, Georgia , Alabama, North Carolina, South Carolina, Tennessee, Michigan, West Point , Georgia, Wells Fargo, Florida , Texas , California, California, Texas

☆ The iPhone 16 Pro Max has better battery life and great cameras, but Apple Intelligence hasn't arrived
▼ + stars: | 2024-09-18 | by ( Todd Haselton | ) www.cnbc.com time to read: +9 min

In this article AAPL Follow your favorite stocks CREATE FREE ACCOUNTiPhone 16 Pro Apple Inc.Apple's iPhone 16 family of phones will hit shelves on Friday. Ahead of their launch, I've spent the past five days been testing the high-end iPhone 16 Pro Max. Here's what you need to know about the new iPhone 16 Pro Max, as of now. The iPhone 16 Pro Max has the best battery life of any iPhone yet. Apple Intelligence photos Apple Inc.Another Apple Intelligence feature can help you create movie memories, which are little snippets of photos and videos set to music.

Persons: I've, Max, It's, it's, Siri, Ming, Chi Kuo, I'm, MagSafe, They're, Tim Cook, what's, Jiang Jiaqiang, There's, Siri doesn't, Steve Jobs, Manuel Orbegozo Organizations: Apple Inc, Apple, Apple Intelligence, TF Securities, Barclays, Apple Intelligence Apple Intelligence, Steve, Reuters Locations: Apple's Mail, Boston, Cupertino , California

☆ So we’re expecting a rate cut. When will we start to see a difference in the economy?
▼ + stars: | 2024-09-17 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

How rate cuts workCentral banks cut interest rates for two main reasons: financial conditions are expected to worsen drastically, or inflation has cooled so much that leaving interest rates at high levels will be overly restrictive and put a drag on the economy. The Fed lowers its target rate by buying more securities, namely Treasury notes and mortgage-backed securities. When they have more money to lend out, they don’t need to charge such high interest rates on mortgages and other types of loans they offer. Business' hiring decisions can be influenced by the Federal Reserve's interest rate decisions. When the Fed lowers or raises rates, it takes a while for the full effect of those moves to be felt across the economy.

Persons: you’ve, Jerome Powell, it’ll, Don’t, don’t, Banks, it’s, Thomas Drechsel, Lynne Sladky, ”, “ they’re, ” Said, Milton Friedman, ” Drechsel, “, they’re, Drechsel Organizations: New, New York CNN, Federal Reserve, University of Maryland, Business, Netflix, CNN, Fed Locations: New York

☆ The Apple Watch Series 10 offers mostly minor upgrades, but faster charging is a big plus
▼ + stars: | 2024-09-17 | by ( Todd Haselton | ) www.cnbc.com time to read: +3 min

Loren Elliott | ReutersThe new Apple Watch Series 10 hits stores on Friday. The Apple Watch Series 10, as its name implies, marks the tenth year of the Apple Watch. It's already available for the Apple Watch Series 9. The Apple Watch Ultra and Ultra 2 are compelling in part because they offer up to 36 hours of battery life. Apple is reportedly working on blood glucose monitoring or blood pressure monitoring for the Apple Watch.

Persons: Loren Elliott, I've, there's, Tim Cook, Apple, It's Organizations: Reuters, Apple, Apple Watch, Drug Locations: Cupertino , California

☆ Inside the fateful 12 hours of an apparent assassination attempt outside the Trump International Golf Club
▼ + stars: | 2024-09-17 | by ( Jeremy Herb | ) edition.cnn.com time to read: +8 min

Trump was whisked away to safety, unharmed, while the gunman, who officials believe remained near the tree-line perimeter of the golf course for 12 hours, fled the scene by car. Phone records from T-Mobile that indicated Routh’s phone was “in the vicinity of the golf course” for roughly 12 hours before he was first spotted by US Secret Service, according to charging documents. It’s still not clear why Routh went to the golf course that day. But Secret Service knew immediately it was bullets, and they grabbed me, and I think probably the other one, Steve is one of the people. One patrol deputy saw the suspect vehicle at about mile marker 110 and alerted others, following it but not trying to immediately stop the vehicle, Snyder said.

Persons: Donald Trump, Trump, –, Ryan Wesley Routh, Jeffrey Veltri, Routh, It’s, Ronald Rowe, teed, Steve Witkoff, – Trump, Sean Hannity, CNN Trump, ” Trump, Hannity, ” Rowe, Ric Bradshaw, Rowe, Steve, ”, “, let’s, ‘, Veltri, Martin County Sheriff William Snyder, Snyder, ” Snyder, ” Routh, CNN’s Erin Burnett, CNN’s Kristen Holmes, Evan Perez, Holmes Lybrand, Michael Williams, Devan Cole, Eric Levinson, Andy Rose Organizations: CNN, Trump International Golf Club, Trump, Service, US Secret, FBI Miami Field Office, Secret, ” Authorities, West Palm Beach, Fox News, Secret Service, Nissan, Sheriff’s, Martin County Sheriff, Ford, Palm, FBI Locations: West Palm Beach , Florida, “, West Palm, Mar, Beach, ’, Martin County, Martin, Palm Beach

“It was all smoke and mirrors,” he said of the way the company operated. Former employees painted a picture of a company that cut corners in its haste to embark on missions with a poorly designed submersible. “They wanted to be able to qualify a pilot in a day, someone who had never sat in a submersible. The submersible lost contact with its mother ship during its dive to the Titanic on June 18, 2023. When the investigation is complete, the US Coast Guard and the National Transportation Safety Board will each conduct an independent analysis and complete reports, said Jason Neubauer, the chair of the Marine Board of Investigation.

Persons: David Lochridge, OceanGate, ”, Lochridge, – that’s, “, Shahzada Dawood, Suleman Dawood, Hamish Harding, Paul, Henri Nargeolet, Jason Neubauer, CNN’s Dakin Andone, Cindy Von Quednow Organizations: CNN, US Coast Guard, Marine Board of, OceanGate, Marine Board of Investigation, Coast Guard, Stockton Rush, National Transportation Locations: Everett , Washington, Newfoundland, Canada

“The Secret Service needs more help,” Biden told reporters while leaving the White House on Monday. Chip Somodevilla/Getty ImagesActing US Secret Service Director Ronald Rowe met with Trump and local law enforcement on Monday in Florida. Secret Service Director Kimberly Cheatle resigned in the fallout from the assassination attempt, leading to Rowe’s appointment as acting director. Those concerns were underscored by details revealed Monday about the suspected shooter’s whereabouts before he was ultimately spotted by Secret Service agents. Moskowitz said Sunday that the Secret Service needed to consider taking more drastic measures, such as shutting down a significantly wider perimeter.

Persons: Donald Trump, he’s, He’s, Jared Moskowitz, CNN’s Anderson Cooper, Joe Biden, ” Biden, Chip Somodevilla, Ronald Rowe, Rowe, ” Rowe, “ there’s, Trump, “, there’s, ”, Trump’s Butler, Kimberly Cheatle, Ryan Wesley Routh, Jonathan Wackrow, Ric Bradshaw, ” Bradshaw, Joe Raedle, Obama, Bush, Clinton, ” Wackrow, Butler, Cheryl Tyler, CNN’s Wolf Blitzer, ” Tyler, protectee, Robyn Beck, Moskowitz, ” Moskowitz, Biden, Ro Khanna, CNN’s Holmes Lybrand, Kristen Holmes, Whitney Wild Organizations: CNN, Republican, Secret, Trump, Florida Democrat, Service, White, House, Trump’s, Trump International Golf, Nissan, Secret Service, Martin County Sheriff’s, Martin County Sheriff's, Facebook, United Nations General Assembly, White House Communications Agency, Department of Defense, Trump National Golf Club Los, Getty, ” Agency, ”, California Democrat, Congress Locations: Palm, Butler , Pennsylvania, Florida, Congress, Washington ,, Lago, Trump, Martin County, Iran, New York City, Mar, Palm Beach, Beach, West Palm Beach , Florida, Butler, Rancho Palos Verdes , California, AFP, California

☆ Titan submersible implosion: US Coast Guard hearings begin
▼ + stars: | 2024-09-16 | by ( Dakin Andone | ) edition.cnn.com time to read: +4 min

CNN —The US Coast Guard on Monday will begin a multi-day hearing to examine the loss of the Titan – the ill-fated submersible authorities said imploded in the North Atlantic Ocean in June 2023, killing all five people aboard during a dive to the wreckage of the Titanic. The public hearing will be conducted by the Marine Board of Investigation that was convened within days of the submersible’s disappearance. The MBI – the highest level of inquiry by the Coast Guard – was tasked with reviewing the cause of the tragedy and offering recommendations, including about potential civil penalties and criminal prosecution. The MBI is made up of numerous Coast Guard officials and at least two from the National Transportation Safety Board, according to a list provided by the Coast Guard. When the investigation is complete, the US Coast Guard and the National Transportation Safety Board will each conduct an independent analysis and complete reports, Neubauer said Sunday.

Persons: Coast Guard –, ” Jason Neubauer, “, ”, Neubauer, Shahzada Dawood, Suleman Dawood, Hamish Harding, Paul, Henri Nargeolet, ” Neubauer Organizations: CNN, US Coast Guard, Marine Board of, MBI, Coast Guard, Stockton Rush, OceanGate Expeditions, OceanGate, National Transportation Safety, NASA, Boeing, Department of Justice, Marine Board, Investigation, National Transportation Locations: Newfoundland, Canada, Everett, Washington, North Charleston , South Carolina

☆ Podcast about Missouri father’s killing helps lead to an arrest 35 years later
▼ + stars: | 2024-09-15 | by ( Faith Karimi | ) edition.cnn.com time to read: +11 min

A man was arrested in connection with Martin’s death but later freed when the charges were dropped days before his trial, the twins said. A few months later, in early 2021, the St. Francois County Prosecuting Attorney’s office announced it was reopening the case. The suspect, Wesley Paul Marler, 69, has been charged with assault in the first degree and has pleaded not guilty. Their father’s killing changed how his daughters think about Friday the 13thBonne Terre is a small city about 60 miles south of St. Louis. But that belief started unraveling after they talked to residents and learned about their father’s tense history with Marler, they said.

Persons: Jimmie Wade Martin, Martin’s, He’d, Angela Williams, Andrea Lynn, ” Lynn, ” Angela Williams, ”, Will, ’ ” Williams, —, Shawn Lee Martin, Chris Hulsey, Wesley Paul Marler, Louis, ” Williams, “, ” Marler, Christopher G, Hartmann, Marler, ” Wesley Paul Marler, Lynn, ” Hartmann, Martin, towner, he’d, ’ ” Lynn, they’d, Melissa Gilliam, ” Gilliam Organizations: CNN, Terre, Facebook, Authorities Locations: Bonne Terre , Missouri, Francois County, St, Francois County , Missouri, Bonne Terre, Farmington, “, ” “

☆ Why Trump’s trade hero turned against tariffs
▼ + stars: | 2024-09-14 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +15 min

Vice President Kamala Harris has lambasted Trump’s tariff plan as a tax, but President Joe Biden has maintained tariffs Trump put in place during his presidency. We used trade policy, or tariffs, as a form of reciprocity, where we said, OK, our tariffs are pretty high. So that’s what led to all these trade agreements, the General Agreement on Tariffs and Trade, GATT, which became the WTO (World Trade Organization), NAFTA (North American Free Trade Agreement) and other free trade agreements that we’ve reached. He began to entertain this idea of reciprocity, of trying to reduce foreign tariffs by offering cuts in our tariffs. How do those tariffs compare with the late 19th century tariffs?

Persons: CNN —, Donald Trump, Kamala Harris, Joe Biden, Biden, Read, Douglas Irwin, Irwin, William McKinley —, Trump, IRWIN, there’s, It’s, we’ve, William McKinley WOLF, William McKinley, McKinley, they’ve, Bush, H.C ., William Jennings Bryan, that’s, they’re, it’s, Britain WOLF Organizations: CNN, Republicans, Democrats, Trump, Dartmouth College, Commerce, US Trade, Trade, WTO, World Trade Organization, American Free Trade, of Congress, University, Virginia’s, Federal, WOLF, Peterson Institute for International, Republican Party Locations: China, Ohio, Pennsylvania, Homestead , Pennsylvania, H.C, Buffalo, trillions, United States, it’s China, Britain, Japan

☆ Traveler ordered to pay more than $5,000 in fuel costs after flight diverted due to bad behavior
▼ + stars: | 2024-09-13 | by ( Lilit Marcus | ) edition.cnn.com time to read: +2 min

CNN —A problematic airline passenger has been hit with an unusual form of punishment – he has to pay back the airline for the cost of fuel. According to the Australian Federal Police, a then-32-year-old man from Western Australia was disruptive on a flight headed from Perth to Sydney. Now, the passenger has been ordered to pay $8,630 AUD ($5,806 USD) back to the airline to cover the cost of the wasted fuel. While charging a disruptive traveler for the cost of fuel is not a typical penalty, other kinds of fines are more common. The single highest individual penalty, $40,823, was issued to a traveler who brought their own alcohol on board, was intoxicated, attempted to smoke marijuana in the lavatory, and sexually assaulted a flight attendant – all in a single flight.

Persons: ” Shona Davis, “, – Organizations: CNN, Australian Federal Police, US Federal Aviation Administration, Department of Justice Locations: Western Australia, Perth, Sydney, United States

☆ India’s EV conundrum: To invest in cars or charging points first
▼ + stars: | 2024-09-13 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

A little over two years after the switch, Fernandes regrets her decision: "I'll never ever buy an electric vehicle again." "A 4India’s EV conundrum: To invest in cars or charging points first0% charge should easily take me for another 40km, but it dropped to 0% within 5km," Fernandes said. In India, "Range anxiety" remains a significant hurdle preventing drivers from making the transition from internal combustion engine to EV cars, analysts said. "Charging infrastructure in India's electric vehicle market is still not fully developed, but companies want more vehicles on the road before they invest more. As of August 2023, Tata Motors dominated 72% of India's EV market, followed by MG Motors with with a 10.8% share.

Persons: Carmelita Fernandes, Fernandes, Brajesh Chhibber, Chhibber Organizations: Tata Nixon, CNBC, Bain & Company, McKinsey India, Tata Motors, MG Motors, Mahindra & Mahindra, Citroen, Hyundai, Kia Locations: Indian, Pune, India, Bombay, Maharashtra, Mumbai, Goa, Canalys

Patrick T. Fallon | AFP | Getty ImagesUber announced Friday it is expanding its partnership with Alphabet's Waymo to offer robotaxi rides in Austin, Texas, and Atlanta beginning in early 2025. Uber riders in those cities can be matched with a driverless Waymo car for some trips, according to the companies. A Waymo spokesperson said it had no plans to partner with Uber in San Francisco and Los Angeles. The expansion into Austin and Atlanta won't include Uber Eats at first, according to the Waymo spokesperson, but they're exploring that possibility for the future. Some analysts were more hopeful for a potential Uber and Waymo expansion into San Francisco.

Persons: Patrick T, Fallon, Alphabet's Waymo, Uber, Tesla, Bernstein, Waymo, We're, Dara Khosrowshahi, Tekedra Mawakana, We've, Cruise, Wells, Ken Gawrelski, — CNBC's Laura Batchelor, Lora Kolodny Organizations: AFP, Getty, Uber, Waymo, Atlanta, Google Locations: Los Angeles , California, Austin , Texas, Atlanta, San Francisco, Los Angeles, Phoenix, Austin, San Francisco , Los Angeles

☆ Attorney General Merrick Garland to denounce 'dangerous' and 'outrageous' attacks on DOJ prosecutors and personnel
▼ + stars: | 2024-09-12 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | Rebecca Shabad | ) www.nbcnews.com time to read: +4 min

WASHINGTON — Attorney General Merrick Garland is set to denounce "dangerous" and "outrageous" attacks on Justice Department prosecutors and personnel Thursday and will seek to reassure them that he has their backs. "It is dangerous to target and intimidate individual employees of this department simply for doing their jobs." "And it is outrageous that you have to face these unfounded attacks because you are doing what is right and upholding the rule of law." He'll say of the attacks on prosecutors: "You deserve better. The former president has called DOJ employees derogatory names, describing, for example, special counsel Jack Smith, who has charged Trump in separate cases, as "deranged."

Persons: General Merrick Garland, Garland, Donald Trump, Trump, Jack Smith, Smith, Attorney Alvin Bragg, he's, ” Organizations: Department, Justice, DOJ, White, Department of Justice, NBC News, Trump, Biden's Justice, Manhattan, Attorney, WIN, Political, Illegal Voters Locations: WASHINGTON, York

☆ Retail credit card interest rates reach record high
▼ + stars: | 2024-09-12 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +4 min

Here’s one way to think about these kinds of high-rate burdens:Say you sign up for a retailer’s card the day you make a $1,000 purchase. Or, consider that the interest you’ll pay in that same scenario will wipe out the $200 you “saved” after just nine months of making minimum required payments. The lowest rate on a retail card that the study found was 10%, on the Amazon Secured Card. “There are narrow circumstances in which retail cards can work for you. For a loyal shopper who pays in full and avoids interest, that’s a compelling value proposition,” he said.

Persons: Bankrate, Sam, Big, you’re, Ted Rossman, ”, you’ll, “, Rossman, That’s Organizations: CNN, Academy, Nordstrom, Navy, Walgreens, QVC, Amazon, Military Star, Costco, Citi, IKEA Projekt, IKEA Visa Locations: Petco, Burlington, Banana, JCPenney, American

☆ Wells Fargo stock drops after US regulator issues enforcement action for money laundering
▼ + stars: | 2024-09-12 | by ( ) edition.cnn.com time to read: +1 min

The Office of the Comptroller of the Currency, a top banking regulator in the United States, said Thursday it has issued an enforcement action against Wells Fargo due to deficiencies in its risk management practices. The regulator said it had identified deficiencies relating to the bank’s financial crimes risk management practices and anti-money laundering internal controls. An agreement under the enforcement action requires the lender to receive permission from the OCC before launching new business in medium- or high-risk areas for money laundering or sanctions. Since 2016, Wells Fargo has spent billions of dollars settling civil and criminal charges related to a multiyear scheme that included repeatedly misapplying loan payments, wrongfully foreclosing on homes, illegally repossessing vehicles, incorrectly assessing fees and interest and charging surprise overdraft fees. Last year, the former head of the bank’s retail operation was sentenced to three years of probation, while the bank’s former CEO was banned from the industry.

Persons: Wells, Wells Fargo Organizations: OCC Locations: United States, Wells

☆ GM's new EV charging hubs look exactly like gas stations
▼ + stars: | 2024-09-12 | by ( Nora Naughton | ) www.businessinsider.com time to read: +1 min

GM's new EV charging hubs look exactly like gas stations. The joint venture with EVgo will produce 400 new charging stalls nationwide. Improving the charging experience is key for EV adoption. Go to newsletter preferences Thanks for signing up! Several large hubs of roughly 20 fast chargers each are being installed in major metropolitan areas in Arizona, California, Florida, Georgia, Michigan, New York, and Texas, for a total of 400 new charging stalls.

Persons: —, Wade Sheffer Organizations: EVgo, EV, Service, GM Energy, Business Locations: Arizona , California, Florida, Georgia, Michigan, New York, Texas

☆ 16 best backpacks for college students in 2024
▼ + stars: | 2024-09-11 | by ( Cory Fernandez | Cory Fernandez Is A Commerce Editor For Select On Nbc News. | ) www.nbcnews.com time to read: +20 min

SKIP AHEAD How I picked the best backpacks for college students | The best backpacks for college students | How to shop for a backpack as a college student | Why trust NBC Select? How I picked the best backpacks for college studentsThere are several factors to consider when looking for a backpack if you’re a college student. Padding and ergonomics: Both of our experts, chiropractor Dr. Matt Cavanaugh and ergonomics expert Kevin Costello, said that padded wide shoulder straps are essential for college students looking to prioritize comfort. It comes with both shoulder straps and two leather loops on top that you can fasten with the metal button. It has a flexible water bottle pocket on the side, a trolley sleeve, a 17-inch laptop sleeve and breathable padding on the back to reduce sweating.

Persons: you’re, chiropractor Dr, Matt Cavanaugh, Kevin Costello, Costello, “, ”, It’s, Alo Stow, Alo, Calpak Kaya, Nikki Brown, she’s, it’s, Jordan Bowman, “ I've, Orvis, I've, Josh Rios, Rios, I’ve, Beckmann, Lauren Swanson, Herschel, ” Alan Hedge, Matthew Cavnugh, Alan Hedge, TikTok Organizations: NBC, Adidas, America, Cornell Institute for Healthy Futures, Cavanaugh Chiropractic, Cornell University’s College of Human, Facebook, Twitter Locations: Herschel, United States, Lafayette , Louisiana

☆ A debate with bad blood
▼ + stars: | 2024-09-11 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

When discussing immigration, Harris took a shot at Trump's rallies, saying that people leave them early " out of exhaustion and boredom ." Trump responded with his own attack about Harris' rallies, but his demeanor also took a noticeable turn for the remainder of the debate. And while the two candidates basically don't agree on anything, Harris took one page out of Trump's book. The vice president had some noticeable facial expressions during the debate , something the former president has been known for. The Harris campaign said following the debate the vice president would participate in another one in October .

Persons: —, we're, Saul Loeb, Kevin Dietsch, Kamala Harris, Donald Trump, Harris, Trump, Jon Stewart, Insider's Brent D, Griffiths, David Muir, Linsey Davis, Roe, Wade, Elon Musk, Taylor Swift, Walz, Alex Brandon, Rebecca Zisser, Jamie Dimon's, Goldman Sachs, greenlights, Dan Ives, Ives, Brooks Kraft, Apple, Millennials, TikTok doesn't, Antony Blinken, Volodymyr Zelenskyy, Megan Thee, Dan DeFrancesco, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, Business, Trump, White, JPMorgan, Apple, Brooks, Brooks Kraft LLC, Getty, YouTube, EV, UK Foreign, MTV, MTV . Locations: —, Ukraine, New York, London

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