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Monday, 4 March 2024

Trump takes aim at DEI

Also: What happened to pensions? ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Mon Mar 4 2024

 

Daniel de Visé Personal Finance Reporter

Happy Monday! It's Daniel de Visé with your Daily Money.

One cold January night before the New Hampshire primary, Donald Trump traveled to Rochester, a city of blue-collar, culturally conservative voters. 

"We will terminate every diversity, equity, and inclusion program across the entire federal government," the former president declared to a packed auditorium. 

It was more than just a popular applause line at Trump rallies. Behind the scenes, Jessica Guynn reports, a coalition of dozens of right-wing groups is preparing to make Trump's words a reality. 

What happened to pensions?

Inflation continues to ravage Americans' savings, making them nostalgic for a retirement benefit of yesteryear: the pension. 

Ninety percent of Americans saving in a company retirement plan worry it doesn't provide a reliable stream of income that can withstand the financial strains posed by inflation, which hit a 40-year high in 2022, according to a survey last fall by Greenwald Research.

Until about the 1980s, the pension, or defined benefit plan, "was a very, very successful program for people," said Phil Maffei, head of corporate retirement solutions at insurance company TIAA. "You would get a portion of your income delivered as income for life when you retired." 

What, then, happened to pensions?

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Rise of the robo-taxis
Which cities have the most people in financial distress?
Best stocks under $10

🍔 Today's Menu 🍔

Do you struggle in choosing between Applebee's and IHOP?

Good news! Dine Brands Global is looking into launching dual-branded Applebee's-IHOP restaurants, Bailey Schulz reports.

CEO John Peyton said the company is considering bringing the joint restaurants to the U.S. after launching successful prototypes in international markets. Dine Brands has so far opened eight dual-branded restaurants, the most recent opening in January in Leon, Mexico.

Now, we can start lobbying for a devastating combo of Dunkin' Donuts and Baskin-Robbins. Oh, wait. . . .

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.

Then-President Donald Trump listens while acting Office of Management and Budget director Russell Vought speaks during an executive order signing regarding federal regulations at the White House on October 9, 2019.

Project 2025, a Republican blueprint for a second Trump administration, contains plans to stamp out the "DEI revolution" in "woke" corporate America.

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People enter and depart a career fair where job seekers can meet with prospective employers during a City of Los Angeles career fair offering to fill vacancies in more than 30 classifications of jobs on November 2, 2023 in Los Angeles, California. The US Bureau of Labour Statistics will release on November 3 the October jobs report amid expectations employment remains quite healthy. (Photo by Frederic J. BROWN / AFP) (Photo by FREDERIC J. BROWN/AFP via Getty Images)
 

Is hiring strong? What you need to know about the economy this week.

Fed chair Powell may give Congress a clearer signal on the timing of interest rates cuts. And the jobs report could show 193,000 gains in February.

Townhomes are under construction on July 19, 2023 in Mundelein, Illinois. With homeowners reluctant to sell their homes and give up their existing low mortgage rates the demand for new homes has spiked.
 

How much are homes worth in your county? See map

California has the top four counties with the highest median home values, nationwide. Explore housing market prices across the US with these maps.

16. How to make money off annuities     Annuities are considered a useful strategy to help you fund your retirement, especially if you are concerned you might outlive your savings. Annuities come in two categories: fixed and variable.    ALSO READ: 19 Things to Do If You Want to Retire Early
 

Want income for life? There may be an option in your retirement plan soon

Inflation has made Americans wistful for pensions, which guarantee income for life in retirement. Companies may fulfill that need with annuities.

A Waymo self-driving car parked on a street in San Francisco on April 29, 2023. After several minutes in a parking space, the car backed up, pulled out into the street and drove off. There was no one in the car during the entire process.
 

Waymo gets OK to expand robotaxis to LA, Mateo counties

The California Public Utility Commission gave Waymo the green light to expand its robotaxi service to Los Angeles and San Mateo counties on Friday.

A stack of New York cheesecake pancakes at the IHOP inside Holliday Square. The four pancakes are filled with cheesecake bites and topped with glazed strawberries.
 

An Applebee's-IHOP combo? Dual-brand locations may be coming to the US

Dine Brands CEO says the company is considering launching dual-brand IHOP/Applebee's restaurants in the U.S.

A job seeker fills out an application during a job fair at Navy Pier on April 11, 2023 in Chicago, Illinois.
 

Here are the cities with the most people in financial distress

Chicago and Houston rank as the cities with the most people in financial distress, according to a new report from the personal finance site WalletHub.

"Saturday Night Live" spoofs a meeting of TikTok creators with President Joe Biden in 2022.
 

Joe Biden is trying out TikTok. It's kind of cringe.

The Biden campaign made its debut on the video-sharing app on Feb. 11. The videos they've posted since are not helpful to potential voters.

Cincinnati, Ohio, is a major destination for street art in 2024
 

Best places for art in the United States, from museums to city streets

From art museums to arts districts, here are the best places to enjoy art across the United States, according to USA TODAY 10Best readers.

View from the hall of the Garden Lodge looking towards the famous 'Green Door,' the portal to Freddie Mercury's home in Kensington. In a 2023 auction for the Queen singer's belongings, the door adorned with graffitied notes of admiration sold for $521,000.
 

Freddie Mercury's London home for sale. See inside

The Garden Lodge, formerly belonging to Queen's Freddie Mercury, is for sale. It has been under the care of his friend Mary Austin since his death.

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Friday, 1 March 2024

When consumers stop spending

Also: Teen buys Tesla ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Fri Mar 1 2024

 

Daniel de Visé Personal Finance Reporter

Good morning! It's Daniel de Visé with your Daily Money, Friday consumer edition.

Americans are socking away less of their paychecks each month so they have more cash to spend, Paul Davidson reports.

The strategy has supported their purchases, and the economy, in recent months, but it's bound to run out of steam. And weaker consumer spending could lead to bad things.

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Sophia Castiblanco, a social media influencer from Bloomington, IL, shares investing tips for teens.

Sophia Castiblanco

Teen says shrewd investments got her a Tesla

A teen from Illinois is speaking out on the importance of early investing after she said smart financial choices allowed her to purchase her first car, a Tesla, at just 17 years old, Emilee Coblentz reports.

Sophia Castiblanco, now a junior in high school, started making money as a social media influencer at age 14, mostly producing lifestyle content like self-care tutorials showcasing her favorite products and purchases.

Upon witnessing her success, Castiblanco's parents encouraged her to invest in Vanguard and Berkshire Hathaway index funds to start building long-term wealth. The teen also chose a couple of her favorite companies to purchase stock in, starting with Tesla and Apple. Long story short: It paid off.

📰 More stories you shouldn't miss 📰

Uber teen accounts will have spending limits
Mouthwash. . . or poison?
A loophole for parent PLUS borrowers
New manatee stamp
The most overpriced Airbnb markets

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.

Customers visit the American Mall dream mall during Black Friday in East Rutherford, New Jersey, on Nov. 25, 2022. Black Friday, the day after Thanksgiving is traditionally regarded as the start of the holiday shopping season, with shoppers flocking to stores and online for bargains.

Americans are spending more and saving less. Forecasters worry that could tip the economy into recession.

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Sophia Castiblanco, a social media influencer from Bloomington, IL, shares investing tips for teens.
 

Illinois teen's investment strategy credited for Tesla purchase

A teen from Illinois is speaking out on the importance of early investing after she said smart investments helped her buy a Tesla.

Heritage Store Hydrogen Peroxide Mouthwash in Wintermint.
 

More than 100,000 mouthwash bottles recalled for poisoning risk

More than 100,000 bottles of Heritage Store Hydrogen Peroxide Mouthwash in the flavors Wintermint and Eucalyptus Mint were recalled over poison risks.

The "Save Manatees" postage stamp by the United States Postal Service will be available for purchase on Tuesday, March 27 in honor of Manatee Appreciation Day.
 

US Postal Service unveils new manatee stamp; release date coming soon

The U.S. Postal Service's newest stamp design features a manatee. The "Save Manatees" stamp will be available for purchase on Manatee Appreciation Day.

Uber adds new spending limits feature to teen accounts
 

Uber's teen accounts will now have spending limits: What to know

With spending limits, parents sharing an account with their child can set a monthly budget for their teens for both food and rides.

Rows of new Kias sit on a lot at the Georgia Ports Authority Colonel's Island terminal in Brunswick.
 

Relief for car theft victims

Some will claim a $145m settlement

Rows of new Kias sit on a lot at the Georgia Ports Authority Colonel's Island terminal in Brunswick.
 

Notices for $145M settlement in Kia, Hyundai suit to go out next week

Hagen Berman announced that eligible Kia and Hyundai owners will be able to submit a claim next week to receive a piece of a $145 million settlement.

Burger King: Members of Burger King's loyalty service, 'Royal Perks', can get a side of cryptocurrency with their order of $5 or more. Online or in store, using a personalized code requested at the register, users will be rewarded with cryptocurrency.
 

Burger King offers free Whopper in response to Wendy's 'dynamic pricing' move

Hoping to capitalize on backlash dealt to rival food chain Wendy's, Burger King is offering customers a free Whopper with a purchase of $3 or more.

A Panera Bread location is photographed in November in the northern California city of Redding.
 

$2 million Panera settlement: Here's how to see if you're owed money

Panera Bread has agreed to pay $2 million to settle a class action lawsuit accusing it of charging hidden fees for delivery orders.

President Joe Biden listens as Sen. Bob Casey, D-Pa., speaks during a visit to Allentown Fire Training Academy in Allentown, Pennsylvania on January 12, 2024.
 

Shrinkflation? Sen. Casey warns that shoppers are paying more for less

Sen. Bob Casey, D-Pa., introduced a bill to fight shrinkflation of household consumer goods that American families routinely purchase.

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