Finance
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Trump’s student loan rate cut excludes most of the 9 million borrowers in default
The Education Department on Thursday announced a reduction in interest rates for federal student loans, describing it as part of a plan to make higher education more affordable. With growing numbers of borrowers in default, the Trump administration pitched the temporary, 1% reduction in student loan interest rates as a salve for those struggling with…
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New Fed Chair Kevin Warsh’s decision to drop forward guidance may actually empower the central bank’s other policymakers
The Federal Reserve has for decades moved steadily from a remote, opaque government agency that shared little about what it did or why to a more transparent institution willing to explain how it makes decisions and what it thinks about the economy. But in his first press conference Wednesday, new chair Kevin Warsh began to…
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Iran floats ‘insurance fees’ and asserts control over Hormuz
Iran sought to assert control over the Strait of Hormuz by saying that ships need its permission and mandatory insurance in order to cross, even as the US said that 20 ships had quietly sailed through overnight via a route along Oman’s coast. The conflicting signals come as the shipping industry tries to assess whether…
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A Saints legend is selling fans a piece of professional sports for $500
A handful of billionaires own the Knicks. A few private equity firms own slices of the rest of the league. Marques Colston thinks the fans should get a turn—and he’s selling them an in at $500 a share. Colston, the famous underdog receiver of the New Orleans Saints, and former mixed martial artist Nick Edwards…
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Gen Z grad landed a job at LinkedIn by waitressing at a conference full of recruiters and handing out her résumé during breaks—now she works at Google
Basant Shenouda spent six months after graduating from one of Germany’s top universities sliding into recruiters’ DMs on LinkedIn and applying for jobs online—and getting ghosted. So she volunteered to waitress at a conference six hours away, where she handed her résumé to 40 recruiters and landed a job at LinkedIn. Now she’s at Google.…
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Beef is becoming a luxury as prices stay at record highs. They likely won’t come down until 2028, says Farm Bureau
If you walked right past the meat aisle on your last trip to the grocery store, you’re not the only one. Beef is starting to feel like a luxury as prices stay at record highs, and there’s no end in sight for markups. Ground beef reached a record price of $6.90 per pound in April,…
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The Great Recession’s missing children are finally bringing college’s financial crisis into sight. Welcome to the ‘enrollment volatility’ era
Universities and colleges across the country have been dealing with a ticking time bomb since the Great Recession, and a growing number of them are saying that it’s about to go off, next semester. A series of announcements over the past month by the highest offices of U.S. universities read like an obituary to a…
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Miserable K-shaped economy might actually be fading, as lower-income families bounce back, says Bank of America
Green shoots are appearing in the spending patterns of lower-income earners, with their consumption tracking up in recent days on goods and services excluding gas. The trend could signal the beginning of the end of the so-called a ‘K-shaped’ economy in which the spending and fortunes of upper-income earners rise, while those of lower earners…
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Record revenues. Record profits. Record revenue per employee. The Fortune 500 is richer than ever—and employing fewer people
Up and to the right: that’s the story of nearly all the collective data from the 2026 Fortune 500, which ranks the largest U.S. companies by revenue. Together, the companies generated record revenue of $21 trillion, up 5% from a year ago. Total profits ballooned 12% to $2.1 trillion, and overall market cap surged 19%…
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Meet the 11 Black Fortune 500 CEOs leading companies with over $432 billion in combined revenues
Thasunda Brown Duckett says she learned everything she needed to know about being a CEO at a young age. The 52-year-old TIAACEO told Wharton School graduates in 2023 that from early childhood, she honed one of her most crucial skills as a leader: her character. “What I know today, as a leader, is that I…