Anchiy | E+ | Getty Images The age when older Americans must start making withdrawals from retirement accounts could change yet again. Under a provision in proposed retirement legislation pending in Congress, required minimum distributions, or RMDs, would start at age 75 by 2032, up from age 72 — which […]
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Biden is on track to fall short of vaccinating 70% of American adults by the Fourth of July
President Joe Biden speaks in the Eisenhower Executive Office Building in Washington, D.C., U.S., on Wednesday, June 2, 2021. Samuel Corum | Bloomberg | Getty Images With less than three weeks to go until Independence Day, President Joe Biden’s latest vaccination goals are in jeopardy. The country is not on […]
Dow falls for a second day, loses 150 points in wake of Fed policy update
The Dow Jones Industrial Average fell for a second day as investors digested the Federal Reserve’s latest policy update, where it moved up its timeline for interest rate hikes and forecast higher inflation. Materials-related stocks led the losses as the Fed’s move to eventually raise rates, along with a current […]
5 things L Brands is doing to try to accelerate Victoria’s Secret’s turnaround
Victoria’s Secret is embarking on a new path that will phase out its iconic Angels imagery. Dimitrios Kambouris | Getty Images Entertainment | Getty Images Ahead of Victoria’s Secret splitting away from Bath and Body Works later this summer, L Brands announced additional steps it’s taking to revamp its brand […]
FAA defends SpaceX in front of Congress despite unauthorized Starship launch
Starship prototype SN8 flies above Boca Chica, Texas. SpaceX The leader of the Federal Aviation Administration’s space office defended Elon Musk’s SpaceX in front of Congress, despite the company launching a Starship prototype in December without authorization. The House Transportation and Infrastructure Committee held a hearing Wednesday on the FAA’s […]
Commodities from copper to corn tumble on China crackdown, rising dollar
A worker installs a copper water line under the Eastern Market Metro plaza in Washington, DC, during a renovation project on Monday, April 5, 2021. Tom Williams | CQ-Roll Call, Inc. | Getty Images The prices of commodities were falling sharply on Thursday, cutting into months of gains and weighing […]
Tropical storm likely to hit U.S. this week as hurricane season gets off to an active start
A home is seen destroyed in the aftermath of Hurricane Delta in Creole, Louisiana, U.S., October 10, 2020. Picture taken with a drone. Adrees Latif | Reuters The first tropical system of the Atlantic hurricane season is forecast to make landfall in the U.S. by the end of the week, […]
America has spent over a trillion dollars fighting the war on drugs. 50 years later, drug use in the U.S. is climbing again.
This June marks the 50th anniversary of the war on drugs, an ongoing campaign that has to a large extent reshaped American politics, society and the economy. “[The goals of the war on drugs] were to literally eradicate all of the social, economic and health ills associated with drugs and […]
Dow falls for a second day, loses 200 points in wake of Fed policy update
The Dow Jones Industrial Average fell for a second day as investors digested the Federal Reserve’s latest policy update, where it moved up its timeline for interest rate hikes and forecast higher inflation. Materials-related stocks led the losses as the Fed’s move to eventually raise rates, along with a current […]
Mortgage rates shoot higher after Fed Chairman Powell’s comments
People look at a home for sale during an open house on April 16, 2019 in San Francisco, California. Justin Sullivan | Getty Images The average rate on the popular 30-year fixed mortgage moved decidedly higher Thursday, hitting 3.25%, according to Mortgage News Daily. That is the highest rate since […]