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Tuesday 30 April 2024

All eyes are on the Fed

Also: Annuities, reconsidered ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Tue Apr 30 2024

 

Daniel de Visé Personal Finance Reporter

Good morning! It's Daniel de Visé with your Daily Money.

The Federal Reserve meets this week for the first time since recent high inflation readings dampened hopes that the central bank will lower interest rates three times this year, Paul Davidson reports.

The prospect of three rate cuts had juiced the stock market and led analysts to boost their 2024 economic growth forecasts.

Why don't more people buy annuities?

Annuities are an essential component of the American retirement system, starting with Social Security. Why, then, do so few Americans understand them?

Most of us, it seems, are pretty much clueless about annuities. In one recent study, the American College of Financial Services gave older Americans a score of 12% out of a possible 100% for their knowledge, based on their performance on a short quiz.

Only about 10% of Americans own commercial annuities. It would be great, many retirement scholars say, if a lot more of us bought them.

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Williams-Sonoma fined for false "made in USA" claims
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🍔 Today's Menu 🍔

Panera has made its signature bread bowl into a fashion statement. And not a quiet one.

The bakery company launched a limited-edition "Bread Head" hat on Monday, Anthony Robledo reports. The cap combines a 3D-printed bread bowl replica with vibrant ostrich feathers and a gold spoon.

As one commenter observed, the hat "kind of looks like a bird tried to make a nest out of stale leftovers."

The hats, priced at $21 apiece, sold out in a single day.

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Daniel de Visé covers personal finance for USA Today.

Federal Reserve Chairman Jerome Powell speaks during a press conference regarding the Federal Reserve's decision to not change interest rates on Jan. 31, 2024.

The Federal Reserve meets for the first time since recent high inflation reports dampened hopes it would cut interest rates three times this year.

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BlackRock     • Action:  Curtailing Russian access to capital markets     • Industry:  Financials     • Market cap, May 13:  $93.36 billion
 

Only 10% of Americans buy annuities. Experts say that's way too low

Annuities are an essential component of the American retirement system. But few of us even understand them, let alone buy them.

Panera launched its limited-edition "Bread Head" hat, which features a 3D-printed bread bowl replica and vibrant ostrich feathers, on Monday April 29, 2024.
 

Panera's $21 bread bowl hat sells out day of launch

Panera launched a limited-edition "Bread Head" hat for $21 that came with a $100 gift card before it sold out on Monday.

Under an settlement agreement with the FDA and Justice Department, Philips will not be able to sell its breathing devices and ventilators used to treat sleep apnea until it meets a number of safety regulations.
 

Philips agrees to $1.1 billion settlement over recalled sleep apnea machines

The settlement comes after a yearslong legal battle concerning 15 million recalled DreamStation CPAP and other respiration machines.

Ford's electric Mustang Mach-E was the best-selling vehicle in Norway in May. The Tesla Model 3 was sixth.
 

Feds open investigation into Ford's hands-free driving tech BlueCruise

Ford's BlueCruise hands-free technology is under investigation following fatal crashes, the NHTSA announced.

A view of a Williams-Sonoma store in 2022 in Corte Madera, California. The San Francisco-based home furnishing retailer is facing a $3.18 million fine for falsely labeling some goods as "Made in America," according to the Federal Trade Commission.
 

Williams-Sonoma fined $3.2 million for false 'Made in USA' claims

Williams-Sonoma is facing a costly penalty for falsely claiming that some mattress pads and other products were "Made in the USA," the FTC announced.

Signage is seen in August 2020 at the headquarters of the Federal Communications Commission in Washington, D.C.
 

Verizon, AT&T among wireless carriers fined nearly $200 million by FCC

Verizon, AT&T, T-Mobile and Sprint have been fined a collective $200 million for sharing customers' location data without their consent.

Over 80,000 pounds of ready-to-eat sliced prosciutto ham product made by a German manufacturer has been recalled by a New Jersey-based firm for not being checked properly.
 

Nearly 100,000 pounds of deli meet recalled, multiple states impacted

Over 80,000 pounds of Stockmeyer Prosciutto has been recalled because it was exported from Germany without a proper inspection, according to the USDA.

A Delta Air Lines Boeing 767 arrives from Dublin at JFK International Airport in New York on Feb. 7, 2024.
 

What happened when an emergency slide 'separated' from a Delta plane

A Delta Air Lines flight from New York to Los Angeles returns to JFK when the emergency slide "separated" from the aircraft shortly after takeoff.

A sign advertises an apartment for rent along a row of brownstone townhouses in the Fort Greene neighborhood on June 24, 2016 in the Brooklyn borough of New York City.
 

Buy or rent? If you want to live in big US metros, the answer's clear

If you can't afford to buy a home right now, let it go. Renting is more cost-effective now in all 50 of the largest U.S. metro areas, data shows.

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Monday 29 April 2024

Google axes Gaza protesters

Also: Rent or buy? ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Mon Apr 29 2024

 

Daniel de Visé Personal Finance Reporter

Good morning! It's Daniel de Visé with your Daily Money.

For years, as part of a progressive work culture that prized free expression and open debate, Google encouraged employees to bring their whole selves to work. 

And Google employees did. On internal message boards and on the streets, Jessica Guynn reports, they agitated for change around the globe and inside their own company.

But when employees held sit-ins at the company's offices in New York and Sunnyvale, California, earlier this month to protest a $1.2 billion contract to provide the Israeli government with cloud computing and artificial intelligence services, the company called the police. Then it fired them. 

3224248F-AF7D-474D-9A0F-FD3681A93716.jpeg

Employees at Google held in-office protests on April 16, 2024 including at the New York offices, shown here, over the company's cloud computing deals with Israel.

No Tech for Apartheid

Rent or buy?

If you're a big city dweller, it's officially better to rent than buy a home pretty much anywhere, Medora Lee reports.

The monthly cost of renting across all 50 of the largest metro statistical areas is 37% cheaper than buying a typical home, Bankrate said. As of February, the typical monthly mortgage payment of a median-priced U.S. home was $2,703, while the typical monthly rent was $1,979.

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Should I wait till age 70 to claim Social Security?
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🍔 Today's Menu 🍔

A disconcerting question has been burning up the internet: Why, in the name of all that's holy, does the Nestle Drumstick refuse to melt?

Social media users, particularly on TikTok, have been conducting science experiments with the frozen dairy dessert in recent weeks to prove that it doesn't melt, Amaris Encinas reports. 

Most of the melt tests came in response to a video posted by the brand in February that showed a young woman who was "studying" until her drumstick melted.  She held a hand-held blowtorch to the cone, which left the cone seemingly unaffected. The video left many confused and concerned.

What is the science behind this alarming development

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Daniel de Visé covers personal finance for USA Today.

Alphabet and Google CEO Sundar Pichai

Google fired 50 protesting workers in the latest example of employers drawing a hard line on office activism over the Gaza conflict.

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A sign advertises an apartment for rent along a row of brownstone townhouses in the Fort Greene neighborhood on June 24, 2016 in the Brooklyn borough of New York City.
 

Buy or rent? If you want to live in big US metros, the answer's clear

If you can't afford to buy a home right now, let it go. Renting's more cost-effective now anyway in all 50 of the largest U.S. metro areas, data show.

The AMC movie theater at Monmouth Mall in Eatontown. Sept. 11, 2023
 

See what movie theaters are offering senior discounts

Prices have gone up at the movies but here are where seniors can take advantage of discounts.

Someone is looking out from behind some fanned bills.
 

Tips to help you retire as a millionaire

Acting on these secrets can vastly improve your financial health and can help you build a comfortable retirement.

My rendering of a Boeing 737 Max.
 

Not all problems on a Boeing are Boeing Issues | Cruising Altitude

Boeing has gotten a lot of attention recently. Here's why it's warranted, but not worth panicking over.

Person with hand on their chin and looking upward as if deep in thought.
 

What to know about waiting until you're 70 to claim Social Security

Most personal finance experts recommend waiting until 70 to claim Social Security, but there are some downsides to consider.

If an inflation adjustment ends up at 3% for Social Security benefits, some payments could go up in 2024 by about $55 a month. The average monthly benefit for all retired workers is $1,827 after the cost-of-living adjustment this year, according to the Social Security Administration.
 

Here's what happens to your credit score when your spouse dies

One of the worst things that can happen to your credit score, research shows, is the death of your spouse.

Nestle's Drumstick ice cream product is going viral for all the wrong reasons, facing accusations about its contents because it doesn't melt easily.
 

Nestle's Drumstick didn't melt. Then the at-home experiments began.

Nestle's Drumstick ice cream apparently doesn't melt, making social people suspicious of the product.

Autism-friendly vacations take a bit more planning but have big rewards
 

Expert tips for autism-friendly vacations: What to know before you go

With careful planning, autism-friendly vacations are fun and rewarding for everyone. A mom shares how to make your next family trip memorable.

The downtown skyline is viewed during a clearing storm on January 22, 2024 in Los Angeles, California.
 

See why a Los Angeles restaurant is facing backlash from vegans

Sage Vegan Bisto, a Los Angeles vegan restaurant, announced a "transformation" to begin serving regeneratively farmed meat dishes.

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