Economy
11 states with guaranteed basic-income programs that give residents hundreds of dollars a month, no strings attached
Over 50 cities and counties have piloted basic-income programs that give residents hundreds of dollars a month for housing and groceries.
How China and Russia are reportedly using 'underground' channels to get around sanctions
Chinese firms that trade with Russia are seeking alternatives to official finance channels, as the threat of US sanctions looms, Reuters reports.
Why economists who originally expected multiple deep rate cuts in 2024 now say a hike is possible
"We expect, in any case, that the Fed's communications after the FOMC meeting this week will have a uniformly hawkish tone," Macquarie said.
The Fed is focusing on 'flawed' data and keeping rates high will result in a big policy mistake, economist says
Various indicators show the Fed may be looking at the wrong data points to inform its higher-for-longer interest rate path, David Rosenberg says.
The US economy is already in a recession, and it's following the same path as China by becoming reliant on debt, veteran forecaster says
Rising layoffs and sluggish job growth are major signs the economy is already in a hard-landing, one top forecaster warns.
3 issues that could make or break the US economy over the next year, according to top economist Mohamed El-Erian
The Fed's inflation target, low-income spending, and geopolitical fallout are the key areas to watch for, Mohamed El-Erian wrote in Project Syndicate.
A Cleveland Uber driver who made $109,000 in 2023 but took home only $17,000 shares the 3 reasons he can't quit ride-hailing: 'I continue to run into a brick wall'
A Cleveland Uber driver shares why he wants to quit ride-hailing and why he's not sure he can find a better job.
A boomer explains why he left coastal Florida for a rural Arkansas town of 900 residents
Milan Novak, 67, moved from Florida's Atlantic Coast to a city in rural Arkansas with 900 residents, noting life is cheaper but there's less to do.
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China's big factories had a terrible March, even as automakers roar to new highs
Weak domestic demand is causing Chinese companies to sell products en masse overseas, worrying US officials.
Everyone is visiting Japan. An extended currency slump means the tourists will just keep coming.
Tourists are staying longer and spending more as the yen continues its slide against the dollar.
Match Group CEO says he has empathy for victims of romance scams but 'things happen in life'
The CEO of Match Group — which is facing a lawsuit from the FTC — said the safety of users is the company's top priority,
Detroit's 'doom loop' was unlike any other American city. Its downtown is now a model for urban reinvention.
Detroit beat out Miami as the fastest-appreciating housing market in the country last November, rising by 8.7% year-over-year, per a CoreLogic report.
The Fed will only cut rates when it's panicking over a recession and a market crash, Black Swan investor says
"This economy is built on low interest rates," Mark Spitznagel said. "There are lag effects when you reset interest rates like we had."
Saudi Arabia wants big spenders for the first part of its Neom megaproject
The luxury Red Sea island resort of Sindalah is due to open this year. It's aimed at upmarket travelers to set itself apart from nearby Dubai.
Young guys literally only want one thing and it's this $7,000 chair
From tech bros to finance guys, rich young men are in love with this midcentury modern Eames lounge chair and ottoman from Herman Miller.
Why so many men in the US have stopped working
Men aren't working at the same rate they did in decades past. We asked two economists to help us figure out why.
How a stay-at-home dad turned his passion for pickleball into 'a game changer' side hustle
Antoine Echavidre's side hustle is teaching pickleball. He's a stay-at-home dad with a passion for this sport and doesn't want to be in an office job.
Take a look at the revolutionary housing developments Canada's First Nations are building on ancestral land
The massive housing and community development projects in Vancouver are designed to help solve the housing affordability crisis.
One of the world's biggest cities is sinking, so officials are spending $35 billion to build a new capital. Take a look at Nusantara.
Rising sea levels are threatening to swamp Jakarta, Indonesia's biggest city, so authorities are building a new capital called Nusantara.
2 experts outline a looming scenario where the US economy could end up caught in a dreaded period of stagflation
A first-quarter GDP slowdown, paired with hotter inflation, is a sign of trouble for the Fed. Some analysts warn of eventual stagflation.
Elon Musk just set Wall Street up for one of his classic head fakes
Tesla is in trouble: sales are falling and competition from China is ramping up. It's clear Elon Musk can't fix the company, it needs a new CEO.
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Putin is using 'nuclear blackmail' — and Russia defeating Ukraine could spark global chaos and economic disaster, Jamie Dimon warns
If Russia defeats Ukraine, other countries might rethink their reliance on the US and embrace nuclear weapons, JPMorgan CEO Jamie Dimon said.
More Gen Zers could ditch college this fall — and some schools are worried they might never fully recover
It's not just the rocky FAFSA rollout. Lower birth rates and high student debt loads could hurt the business of higher ed.
Meet the Gen Zers struggling to stay in work or school — and the parents who are at a loss for how to help
A rising number of America's young people are disconnected from work, school, and a sense of purpose.
A flurry of new rules from the Biden administration attempt to ban noncompetes, boost overtime pay, and increase refunds for delayed flights
The Biden administration introduced new rules aiming to hand some power back to workers, but business groups are gearing up to challenge them.
Millennials having fewer kids could be a drag on the economy for the next decade
The impact of millennials having fewer kids will probably be worse than the impact of aging boomers, an economist told Business Insider.
Trump's team wants to restructure the Fed and let him have a say on interest rate decisions: WSJ
The Wall Street Journal reported that Trump's advisors are making a plan that would give Trump the authority to oust Powell from the Federal Reserve.
A Gen X mom makes $25,000 at Applebee's and can only afford one meal a day. She's one of many Americans who live paycheck to paycheck but don't qualify for government help.
Cherie Tobias, 48, can't afford groceries but doesn't qualify for government assistance.
The 'peak boomer' crisis might only get worse: A fifth of Americans 50 and up have no retirement savings, and the majority are worried they won't have enough money
Many Americans headed toward retirement don't have the funds. It could contribute to the peak boomer crisis.
The more Americans who take Ozempic, the faster the US economy could grow, Goldman Sachs says
With the US obesity rate hovering at around 40%, tens of millions of Americans could take GLP-1 drugs over the next few years.
Trump allies are drawing up plans to make the Fed less independent, report says
Trump allies have drafted proposals to rein in Fed independence and align the central bank with the administration's interests, the Journal reported.
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A 63-year-old peak boomer is 'incredibly scared' Social Security won't be enough to cover her expenses in retirement: 'I'll probably need to work until I die'
After Diane Senffner, 63, lost her job during the pandemic, she depleted her savings and hasn't been able to find stable work since.
Jamie Dimon thinks he knows why people are so gloomy about the economy
The lowest earners have been left out of the economic boom, and it's no wonder they're upset, JPMorgan CEO Dimon said.
Your latte could get even more expensive, thanks to a drought in Vietnam that's strangling coffee bean production
A long drought and hoarding could cut exports by 20% this year, Vietnam's coffee association said last month.
The US economy may be barrelling towards stagflation, an outcome worse than recession
As US growth shows signs of sputtering and inflation keeps rising, a re-run of the tumultuous 1970s is looking more likely.
The US is under pressure to lead the way in reducing plastic pollution — but it keeps making more of it
World leaders are negotiating a treaty to end plastic pollution, and the US is under pressure to step up.
Baby boomers are approaching 'peak burden' on the economy
A wave of retiring baby boomers means the generation will soon reach "peak burden" on the US economy, economists say.
Russia's economy is so driven by the war in Ukraine that it cannot afford to either win or lose, economist says
"A protracted stalemate might be the only solution for Russia to avoid total economic collapse," one economist says.
Jamie Dimon says the US has less than 50% odds of nailing a soft landing: 'Don't get lulled into a false sense of security'
"It looks a little bit more like the '70s to me, and I point out to a lot of people, things looked pretty rosy in 1972 — they were not rosy in 1973."
A rate cut in June is still on tap because the job market is weakening, Citi economist says
Hiring activity could see a substantial slowdown later in the year, Citi economist Veronica Clark said.
The US economy started the year much slower than expected
The US economy began 2024 with cooler growth than the forecast. In the first quarter of this year, real GDP rose at an annualized rate of 1.6%.
A millennial couple who reached financial independence by their mid-30s but don't want to retire early share how they still save 80% of their income
Lindsey and David Barber save 80% to 85% of their income for retirement and their son's future, though neither want to retire early.
Billions of dollars of Ukraine aid are set to be spent in the US. Here are the cities that could get a boost.
The recently approved US aid to Ukraine could help create American jobs. Here are some of the cities that may benefit.
'Americans just work harder' than Europeans, said the CEO of Norway's $1.6 trillion oil fund
Nicolai Tangen said European companies aren't innovating as quickly as American ones, as he spoke of Norges Bank pushing into US equity investment.
The US is dealing with a rare bifurcation of the economy, and it's raising the odds of recession, Piper Sandler chief economist says
Big companies are weathering high interest rates. Consumers, meanwhile, are facing rising debt as inflation eats into wage gains.
The US is preparing to hit back at China's glut of cheap solar panels by targeting its allies
US solar companies accused Chinese firms in Southeast Asia of dumping cheap solar panels on the market. They want Biden to take action.
Millennial wealth is booming. It turns out avocado toast didn't tank them after all.
It turns out that, after killing off brands and choosing avocado toast over homeownership, millennials are getting wealthy.
Jamie Dimon warns the world order is being challenged — and bashes crypto once more
JPMorgan's CEO warned of sticky inflation, rising interest rates, a recession, and global turmoil, while panning crypto's lack of progress.
Meet the typical ALICE: Americans struggling to afford basic necessities but making too much to get help
The number of Americans who are ALICE — Asset Limited, Income Constrained, Employed — is increasing, particularly among Gen Z and boomers.
Meet the typical new entrepreneur: A young woman living in the South who's doing it as a side hustle
American's newest entrepreneurs are increasingly likely to be women, immigrants, living in the South, and doing their business as a side hustle.