The Daily Money: Debt ceiling, tighter lending, inflation jitters

Debt ceiling impasse, signs loans are getting very hard to get, and inflation data due Wednesday spark market jitters.

Read in browser Read in browser The Daily Money ALL THE MONEY NEWS YOU NEED TO KNOW Tue May 9 2023 Medora Lee |  Money and Personal Finance reporter Good morning, and happy Tuesday! It's Medora, again, in Chicago where our Blackhawks team beat the odds and won the NHL's draft lottery , which means a chance to choose hockey phenom Connor Bedard No. 1 overall at the event June 28 in Nashville! Chicagoans take any good sports news whenever we can get it. There usually isn't much of it! Speaking of not having much good news, investors are jittery today ahead of inflation data on Wednesday, debt ceiling talks and a Federal Reserve report on Monday showing banks have tightened the screws on lending. Banks have raised the bar on lending for every category of borrower, which means unless you've got impeccable credit history, you're going to have a harder time accessing money. Economists expect this to squeeze consumers and businesses and put a hard brake on the economy and lead to joblessness. Drug maker Novavax and professional app LinkedIn announced layoffs on Tuesday. Stay tuned... 📰 More stories you shouldn't miss 📰 Give that woman some R-E-S-P-E-C-T: Aretha Franklin's childhood home in Detroit selling for roughly $380,000 Detoxifying quitting: How do I resign from a toxic job situation without burning bridges? Ask HR The new talk you must have: Got senior care? As elderly start to outnumber young, a talk about long-term health care is vital The best price: Dunkin's new perk: Free cup of coffee every Monday in May 🍔 Today's Menu 🍔  Tracking down trace minerals for health: What are trace minerals? And how to get them. 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. Where did home prices go up in the first quarter of the year? See list Among the major U.S. regions, the South saw the largest share of single-family existing-home sales (46%) in the first quarter. READ MORE Advertisement Banks have tightened lending criteria after Silicon Valley Bank crisis Banks have made it tougher for consumers and businesses to get loans after SVB crisis, according to Fed's Senior Loan Officer Opinion Survey. READ MORE GM hires former Apple exec to run software unit As GM looks more toward becoming a software company that makes cars, it has created a new position for an experienced tech expert from Apple. READ MORE Key to aging gracefully: a long-term care plan. Here's how to start. Families who avoid talking about the cost of long-term care are running the risk of financial distress. Here's how to prevent that. READ MORE How to gracefully leave a toxic job situation without burning bridges People managers set the tone for the work environment, and being harsh, overbearing, and punitive can quickly create a toxic workplace. READ MORE How will the Fed's rate hikes hit student loans? College debt is growing more costly in 2023 — and payments on federal student loans that had been on pause during the pandemic will likely resume. READ MORE Burger King debuts red whopper ahead of new Spider-Man film Burger King is debuting a red whopper ahead of the June 2 premiere of 'Spider-Man: Across the Spider-Verse.' READ MORE Aretha Franklin's childhood home selling for roughly $380,000 Aretha Franklin's 6,000-square-foot childhood home in Detroit's La Salle Gardens neighborhood is for sale. The home is listed at $379,900. READ MORE Ben Cohen starts cannabis nonprofit Ben & Jerry's co-founder Ben Cohen has a new nonprofit, "Ben's Best Blnz," aimed at reducing disparities in the cannabis industry and related arrests. READ MORE Carl's Jr., Hardee's to roll out AI drive-thru ordering CKE Restaurants Holdings said its partnering with AI companies to automate voice ordering at participating drive-thru locations. across the country. READ MORE Advertisement Sign up for the news you want Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. SEE ALL NEWSLETTERS ➔ SEE ALL NEWSLETTERS ➔ Newsletters   |    eNewspaper   |   Crosswords Follow Us Problem viewing email? View in browser Unsubscribe  •   Manage Newsletters  •  Terms of Service  •   Privacy Policy/Your California Privacy Rights  •  Privacy Notice  •   Do Not Sell My Info/Cookie Policy  •  Feedback

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The Daily Money: Beware of recalls

Safety Monday. Mercedes Benz recalls some cars due to battery issues and FDA recalls Pilot COVID-10 at-home tests. for bacteria.

Read in browser Read in browser The Daily Money ALL THE MONEY NEWS YOU NEED TO KNOW Mon May 8 2023 Medora Lee |  Money and Personal Finance reporter Happy Monday! It's Medora Lee, from the state the National Weather Service says has the worst weather this year - Illinois! Illinois leads every state in severe weather reports (466) this year aside from Texas. That number represents the total of confirmed tornadoes, plus hail and wind damage reports. Eighty-six tornadoes have already rolled through the Prairie State in 2023, nearly double the  state's average of 50 twisters per year. Storm chasers, we're here for you. In non-weather news, beware of more recalls. This time it's the Mercedes Benz recalling 3,800 cars due to battery issues and at-home Pilot COVID-19 tests that may have been contaminated with bacteria that could infect you. Speaking of at-home COVID-19 tests, after May 11, they aren't free anymore. So, if you want to stock up, make sure you order them by mail or visit an eligible provider before then or expect to share the cost with your insurance company. Be wary of any tests sent to your home if you haven't requested any because it's likely a scam. 📰 More stories you shouldn't miss 📰  Is the EV future dimming?: Electrifying the car market may be getting harder. Here's why Oracle of Omaha speaks: Warren Buffett, Charlie Munger discuss profits, AI and more at Berkshire Hathaway meeting AI's better at upselling than you: Carl's Jr., Hardee's partnering with AI companies to automate drive-thrus Humble abodes get pricier: Single family homes for rent are getting more expensive. Here's where prices are going up 🍔 Today's Menu 🍔  A healthy start: What is the healthiest cereal? What to know about the nutrition info on the back of the box. 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. NY bill aims to fight 'rampant fraud' in cryptocurrency New York bill targets cryptocurrency fraud that until now has faced little federal and state regulation READ MORE Advertisement Does TurboTax owe you a portion of a $141M settlement? Checks will be mailed starting next week, through the month of May. The amount paid to each eligible consumer ranges from $29 to $85. READ MORE Is now the time to collect Social Security? 3 green lights to watch for When to go ahead and collect Social Security can be a tricky question. Be on the lookout for these signs that you're ready to claim your checks. READ MORE Get a $750 sign-up bonus with our best travel credit card There's still time to snag $750 in rewards with our best travel credit card, the Chase Sapphire Preferred. READ MORE Shop today's best Walmart deals on Renpho, Cricut and AovoPro We love these Walmart deals on Renpho massagers, Cricut craft machines and AovoPro scooters—shop the discounts before they're gone. READ MORE Carl's Jr., Hardee's to roll out AI drive-thru ordering CKE Restaurants Holdings said its partnering with AI companies to automate voice ordering at participating drive-thru locations. across the country. READ MORE Mercedes-Benz recalls 3,800 vehicles due to battery issues: check here The National Highway Traffic Safety Administration has issued recalls for the week of April 29-May 6, including 3,800 sedans from Mercedes-Benz. READ MORE More Americans unlikely to consider an EV, survey says. Here's why. EV sales hit a speed bump. The share of Americans who are unlikely to consider buying an EV has grown amid stricter subsidy rules, dearth of chargers. READ MORE Higher food bills? You may soon pay more thanks to extreme weather Fruits, nuts and leafy greens will be scarcer and more expensive in the near term as farmers recover from extreme weather that affected their crops. READ MORE Advertisement Sign up for the news you want Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. SEE ALL NEWSLETTERS ➔ SEE ALL NEWSLETTERS ➔ Newsletters   |    eNewspaper   |   Crosswords Follow Us Problem viewing email? View in browser Unsubscribe  •   Manage Newsletters  •  Terms of Service  •   Privacy Policy/Your California Privacy Rights  •  Privacy Notice  •   Do Not Sell My Info/Cookie Policy  •  Feedback

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