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☆ Commercial real estate has taken a beating. But recovery may be slow for one big reason.
▼ + stars: | 2023-06-05 | by ( Al Yoon | ) www.businessinsider.com time to read: +4 min

Investment volume in commercial real estate fell off a cliff last quarter. But with few transactions on which to peg market values, is the market truly down? Last week, Alfred Brooks, the head of JPMorgan's commercial real estate group, said he's seen distressed buyers already raising money to pick up the pieces, once prices get low enough. Indeed, commercial real estate values are down, by other measures. April was the first month since 2010 that prices of all types of commercial property fell on an annual basis, according to MSCI.

Persons: haven't, —, dealmaking, It's, Alfred Brooks, he's, Richard Rubin, Insider's Alex Nicoll, Rubin, Blackstone, MSCI Organizations: Bank of America, Service, BofA Global Research, RCA, BofA Global

Our experts answer readers' student loan questions and write unbiased product reviews (here's how we assess student loans). See Insider's picks for the best lenders to refinance student loans >>If you have federal student loans, you have options for debt forgiveness, including Public Service Loan Forgiveness and Income-Driven Repayment Plans. Insider's Featured Student Loan Refinance Companies SoFi Student Loan RefinancingSplash Financial Student Loan RefinancingEarnest Student Loan Refinancing Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Show more Variable: 5.32 % - 8.94%, Fixed: 4.96% - 8.99% (with AutoPay discount) Editor's Rating 3.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Apply now Apply now Apply now2. While private student loans aren't eligible for forbearance in the same way federal student loans are, you still have options if you're struggling to keep up with your payments.

Persons: —, Pell Grant, Autopay, forbearance Organizations: Service, Public, Biden, Loan, SoFi, AutoPay, Federal Reserve Bank of New, AK, IL, forbearance Locations: Federal Reserve Bank of New York, MN, NH, OH, TN, TX, California, Florida, Texas, In Texas

☆ You’ve Never Heard of Him, but He’s Remaking the Pollution Fight
▼ + stars: | 2023-05-28 | by ( Coral Davenport | ) www.nytimes.com time to read: +1 min

This spring the Biden administration proposed or implemented eight major environmental regulations, including the nation’s toughest climate rule, rolling out what experts say are the most ambitious limits on polluting industries by the government in a single season. Piloting all of that is a man most Americans have never heard of, running an agency that is even less well known. But Richard Revesz has begun to change the fundamental math that underpins federal regulations designed to protect human health and the environment. Mr. Revesz, 65, heads the obscure but powerful White House Office of Information and Regulatory Affairs, which is effectively the gatekeeper and final word on all new federal regulations. It has been known as the place where new rules proposed by government agencies, particularly environmental standards, go to die — or at least to be weakened or delayed.

While buying a house can set you up for financial success, renting comes with its own benefits, like flexibility. If you can't afford a down payment or monthly payments, you may want to continue renting for now. Homeownership also costs more than just the monthly mortgage payment. This includes your mortgage, property taxes, mortgage insurance, homeowners insurance, and HOA fees, but not costs like utility bills. If monthly mortgage payments would be a financial strain, it could be better to keep renting for now.

☆ The Pandemic-Era Tax Break Keeping the IRS Up at Night
▼ + stars: | 2023-05-20 | by ( Richard Rubin | Ruth Simon | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/the-pandemic-era-tax-break-keeping-the-irs-up-at-night-f139e439

☆ Cisco's orders hit by sluggish demand, shares fall
▼ + stars: | 2023-05-17 | by ( Richardrohan Francis | ) www.reuters.com time to read: +1 min

May 17 (Reuters) - Cisco Systems Inc (CSCO.O) said on Wednesday a large backlog of products due to supply chain constraints has hit demand for new orders from customers, sending the company's shares down 4% in extended trading. Cisco's product orders fell 23% in the third quarter, even as the maker of routers, security services and software products reported a quarterly profit that beat estimates, helped by its aggressive steps to resolve supply chain bottlenecks. But the backlog, combined with "macroeconomic conditions", hit demand for new products, company executives said on a post-earnings conference call. "Increase in product shipments is often leading customers and partners to absorb these shipments prior to placing new orders," Cisco CEO Chuck Robbins said. Cisco also forecast full-year revenue to rise between 10.0% and 10.5% and now expects annual adjusted earnings per share between $3.80 and $3.82.

☆ Cisco raises full-year profit forecast
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +1 min

May 17 (Reuters) - Cisco Systems Inc (CSCO.O) on Wednesday raised its full-year profit forecast, betting that demand will stay strong for its networking infrastructure even in a slowing economy. Cisco also forecast fiscal 2023 revenue to rise between 10.0% and 10.5%, compared with its previous outlook of an increase of 9.0% to 10.5%. The maker of routers, security services and software products has also benefited from resilience in cloud spending, which has been a bright spot in the wider tech slowdown. Cisco posted revenue of $14.57 billion in the third quarter, compared with analysts' estimates of $14.39 billion, according to Refinitiv. Reporting by Richard Rohan Francis in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ IRS Will Offer Free Online Tax Prep for Some Taxpayers in 2024
▼ + stars: | 2023-05-16 | by ( Richard Rubin | ) www.wsj.com time to read: 1 min

Tax lingo isn’t always intuitive. To help explain your tax return, WSJ breaks down some key terminology—from gross income to above the line deductions—and explains how each connects to one important number: your adjusted gross income. Illustration: MacKenzie CoffmanWASHINGTON—The Internal Revenue Service will begin a pilot program next year to help some taxpayers fill out and file their income tax returns for free online, taking the first step toward building a government-run competitor to TurboTax and H&R Block . The trial run will be welcomed by Democrats and consumer advocates who have been urging the government to give Americans a public tax-prep option. Republicans, meanwhile, have questioned whether the IRS should develop a new tax-filing system.

☆ IRS Weighs Creating a Government-Run Tax-Prep Option
▼ + stars: | 2023-05-15 | by ( Richard Rubin | ) www.wsj.com time to read: 1 min

Companies worry about a scenario in which the IRS creates first drafts of taxpayers’ returns. Photo: stefani reynolds/Agence France-Presse/Getty ImagesWASHINGTON—The Biden administration is considering creating a government-run alternative to TurboTax and H&R Block , drawing resistance from Republicans and companies fearing a loss of business. Democrats and consumer advocates have been pushing for the Internal Revenue Service to offer free online tax filing on its website, particularly for people with straightforward returns. Their core argument: Tax-preparation companies charge middle-income Americans for what advocates think should be a free public service.

PenFed Auto Loans Frequently Asked QuestionsIs PenFed good for auto loans? What credit score is needed for a PenFed auto loan? PenFed Auto Loans CompetitorsHow PenFed compares PenFed Auto LoanNavy Federal Auto LoansPNC Auto Loans Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. How we rate auto loansWe rate all auto loan products in our reviews and guides on a 1-5 scale. See our ratings methodology for auto loans »Ryan Wangman, CEPF Loans Reporter Ryan Wangman is a reporter at Personal Finance Insider reporting on personal loans, student loans, student loan refinancing, debt consolidation, auto loans, RV loans, and boat loans.

☆ Plunging Tax Revenue Accelerates Debt-Ceiling Deadline
▼ + stars: | 2023-05-13 | by ( Richard Rubin | ) www.wsj.com time to read: 1 min

As Democrats and Republicans debate raising the debt ceiling, they both agree that a default would be disastrous for the economy. WSJ explains why U.S. debt has become the center of the economy. That crunch came months sooner than expected, raising the specter of a default on federal obligations unless Congress increases the debt ceiling. The reason: the expected annual gusher of tax-season payments didn’t flood into the Treasury. When the Congressional Budget Office analyzed tax collections for the current fiscal year through April, the tally fell about $250 billion short of predictions from just a few months ago.

Debate over the US debt ceiling puts the potential of a US Treasury default in focus. Failing to do so could lead to a US Treasury default if the government becomes unable to make payments on all of its outstanding debts. "This type of default — one that occurs due to not being able to raise the debt ceiling — would be unprecedented," Steeno says. 6 ways a US Treasury default could hurt your financesHere are some of the biggest financial impacts Americans would feel in the event of a US Treasury default:1. But a Treasury default could undo any progress they've been made.

☆ Chinese postpartum confinement, called ‘zuo yue zi,’ is gaining Western appeal
▼ + stars: | 2023-05-07 | by ( Mayumi Maruyama | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —You cannot carry heavy things. Chan is a “pui yuet,” also called a confinement nanny, who lives with families after a baby is born. Richard, a content creator from Canada, traveled to Hong Kong to become a model and fell in love with her husband, Tom, there. During that time, the pui yuet makes dishes catering to the mother’s physical needs and helps her with milk production and other concerns. Few entities track the pricing of nannies in Hong Kong on a consistent basis because most negotiations are directly between clients and the nannies.

☆ More layoffs hit Tom Brady's NFT startup Autograph, which just cut nearly a third of its workforce
▼ + stars: | 2023-05-04 | by ( Ben Bergman | ) www.businessinsider.com time to read: +2 min

Autograph is a star studded NFT platform cofounded by retired NFL quarterback Tom Brady. This new round of layoffs occurs months after the company laid off dozens of staffers in December. The NFT market has has cooled, with sales expected to plunge 72% this year, according to one estimate. Autograph, the star studded NFT platform cofounded by retired NFL quarterback Tom Brady, has laid off about a third of its workforce, Insider has learned. The NFT market has has cooled considerably, with sales expected to plunge 72% this year, according to one industry estimate.

Pros Check mark icon A check mark. Pros Check mark icon A check mark. Geoff Cudd, Owner of FindTheBestCarPrice.comKareem Saleh, founder and CEO of FairPlay AIRyan Wangman, loans reporter at Personal Finance InsiderHow to Choose the Best Auto Loan for Bad CreditTo pick the best auto loan, take stock of the factors that are most important to you. See our full ratings methodology for auto loans »Auto Loans for Bad Credit Frequently Asked QuestionsCan I get auto financing with a 500 credit score? Our Experts' Advice for Choosing the Best Auto Loan for Bad CreditCan you get an auto loan with bad credit?

Our experts answer readers' personal loan questions and write unbiased product reviews (here's how we assess personal loans). Our Experts for the Best Personal Loans With No Origination FeesWe consulted personal loan and financial experts to give their insights into finding the best personal loans with no origination fees. Personal Loan With No Origination Fees Frequently Asked QuestionsCan you get a personal loan without an origination fee? How to Choose the Best Personal Loan With No Origination FeesTo select the best personal loan for you, look at the factors that are most important to you. Methodology: How we chose the best personal loans without origination feesWe rate all personal loan products in our reviews and guides on a 1-5 scale.

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). People with high credit scores are generally granted lower interest rates on credit cards, personal loans, and other types of debt. Generally, companies offer low-interest credit cards and better perks to people with excellent (800 or greater) or good (670 to 799) credit. Another strategy that experts recommend is to open new credit cards to increase your overall credit limit. Dispute items on your credit reportA credit report includes full documentation of your credit history, which then gets turned into your credit score.

☆ Republicans Effectively Voted to Raise Taxes. They’re Fine With That.
▼ + stars: | 2023-04-29 | by ( Richard Rubin | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/republicans-effectively-voted-to-raise-taxes-theyre-fine-with-that-fb392995

☆ CME profit rises as volatility spurred risk hedging
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

April 26 (Reuters) - CME Group Inc (CME.O) on Wednesday posted first-quarter profits that beat Wall Street expectations, as traders turned to the exchange operator's hedging products to navigate market volatility related to worries about the banking sector and slowing macroeconomic growth. Overall average daily volumes were up 4% at 26.9 million contracts. The beat was driven in part by higher-than-anticipated revenue per contract, which benefited clearing and transaction fees, Piper Sandler analyst Richard Repetto said in a client note. Clearing and transaction revenues in the quarter were up 5.5% at $1.2 billion. Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

CNN —Haiti’s crime rate has more than doubled since last year, as the Caribbean island nation faces widespread insecurity and gang violence, new data has revealed. More than a dozen people were lynched by a crowd in Haitian capital Port-au-Prince on Monday, on suspicion of being gang members, according to authorities. Residents who spoke to Reuters and AFP on camera said they believed the victims were gang members. Before the killing, Haitian National Police had stopped and searched the victims in a minibus in the neighborhood of Canape-Vert, seizing weapons and other equipment, according to a statement from the Haitian National Police. Gangs control wide swathes of Port-Au-Prince, plaguing residents with extreme violence as Haitians also grapple with extreme poverty and a humanitarian crisis.

Ramit Sethi, star of Netflix's "How to Get Rich," still rents an apartment. Even if your potential mortgage is the same cost as your rent, Sethi recommends budgeting for "phantom expenses." Calculate the 'phantom costs' of owning a homeFirst, Sethi says it's important to understand what percentage of your income should go towards housing. Sethi recommends factoring in "35% to 50% of your mortgage to factor in all the phantom costs of homeownership, like maintenance, taxes, interest, and closing costs. Start saving for big-ticket home repairsOnce you buy a home, Sethi recommends immediately starting an emergency savings fund specifically for home repairs.

Instead of waiting until you're debt-free to start investing, start the habit of investing small amounts now. The key mistake most young people make, Sethi told Insider in fall 2022: Waiting too long to start investing. Sethi advises young people to use compound interest to their advantage and start investing as soon as possible. When you're young, it feels like $100 a month wouldn't add up to that much. Waiting until your 40s to start investingInstead: Start investing small amounts on a regular basis"The No.

Netflix star Ramit Sethi says most people work towards generational wealth without knowing what it means. Here are three steps Sethi recommends taking if you want to pass down generational wealth to your children. Set concrete goals"You'll notice that, in our culture, we conflate generational wealth with passing down a house. Sethi encourages people who want to build generational wealth to make concrete goals around what that wealth will look like. Start investingSethi's advice to anyone looking to build generational wealth is to start investing, even in small amounts.

☆ Opinion: What happens when you knock on a door
▼ + stars: | 2023-04-23 | by ( Richard Galant | ) edition.cnn.com time to read: +18 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. In Kansas City, Andrew Lester, an 84-year-old White homeowner shot Ralph Yarl, a Black teenager who rang his doorbell. And, “with Trump as the front-runner for the 2024 Republican nomination, Fox has resumed coverage of him which often veers into the free-advertisement category. Neither Robert F. Kennedy Jr., who announced his candidacy last week, nor Marianne Williamson represents a serious threat, Axelrod noted. “The calendar reads 2023,” wrote the Republican former lieutenant governor of Georgia, Geoff Duncan, “but it feels like 2016 all over again.

☆ Roll the Dice, Save Gotham From Climate Catastrophe!
▼ + stars: | 2023-04-21 | by ( Alyson Krueger | ) www.nytimes.com time to read: +1 min

A race against time — or, rather, global warming wrought by fossil fuels — the game invites four players to work together to decarbonize New York City by 2035. The challenge is rooted in reality, said Stephen Wemple, general manager of the Utility of the Future team at Con Ed, the city’s largest utility company. Kathy Hochul has mandated that 70 percent of New York State’s energy must be renewable by 2030, and 100 percent by 2040. Currently, renewable energy percentages are in the “high 20s,” he said. Energetic is the brainchild of Richard Reiss, a fellow at the Institute for Sustainable Cities at Hunter College and the founder of City Atlas, an online resource about New York City’s transition to green energy.

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