Brent Jabbour
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46% of Americans still paying off last summer’s debt
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Collateral damage: Why Apple’s iPhone sales are getting crushed in China
Apple’s iPhone sales are getting crushed in China. Sales of the smartphone dropped 19% in the first three months of 2024, the worst showing since COVID-19 hit. Meanwhile, sales from the Chinese smartphone maker Huawei surged nearly 70%, according to Counterpoint research. China remains one of the biggest markets for Apple but the company has… -
The US has ‘fiscal cancer.’ The 2024 election could put off treatment.
The U.S. national debt is creeping toward $35 trillion after decades of running deficits. According to a former comptroller general who served under two U.S. presidents, the country’s biggest deficit is in leadership. “The truth is, the U.S. has fiscal cancer,” David M. Walker said. “You can beat cancer. My wife beat cancer. But first… -
‘They’re cheating’: Biden wants to triple tariffs on Chinese steel and aluminum
President Joe Biden wants to triple tariffs on Chinese steel and aluminum. He claims cheap Chinese exports are undermining American products. China is the No. 1 producer of the two metals worldwide. The White House said the nation is not only “dumping” products on the market that are “among the world’s most emissions-intensive,” but subsidizing… -
Inflation ‘out of Fed’s control,’ so what should it do with interest rates?
March’s sticky inflation report has thrown into question the timing of the Federal Reserve’s anticipated interest rate cuts. In fact, some have said Americans can’t rule out the Fed going in the opposite direction and hiking the rate instead. The Federal Reserve penciled in three quarter-percentage point rate cuts in 2024, but that was before… -
Gold isn’t the only commodity surging. It could bring bad news for inflation.
Analysts are scratching their heads trying to figure out why gold is on a tear right now. The commodity hit another record high Tuesday, April 9, ahead of Wednesday’s inflation report and the release of the Federal Reserve meeting minutes, where investors get a behind-the-scenes look at what the Fed is thinking in terms of cutting… -
Jamie Dimon warns of higher interest rates, recession and AI taking jobs
In a year where Americans are anxiously waiting for interest rates to drop, the CEO of the world’s largest bank warns rates may go even higher than they are today and don’t count out a recession. There are two CEOs in this country whose annual letters to shareholders are more widely anticipated than the rest:… -
Money Madness: 5 ways Caitlin Clark fever is paying off
Women’s March Madness is full of stars this year but one stands out above the rest. Iowa standout Caitlin Clark is the must-see attraction, pulling more eyeballs than last year’s NBA Finals average viewership, the World Series, and nearly every college football game. The sports world is in the Caitlin Clark business and it’s paying… -
‘The reason is Elon’: Tesla investor blames poor sales on Musk’s X posts
Elon Musk has been described as ingenious, unorthodox and eccentric. The bold things he has done in life have propelled him and his companies to where they are today. But are his antics now hurting his most prized accomplishment, Tesla? Tesla shares are down more than 30% this year and the company just had a very disappointing… -
Make energy policy boring again: Fmr. Trump official’s case for energy security
How Americans will power their lives for years to come is an issue that divides them. From fossil fuels to wind and solar, liquefied natural gas to nuclear power, debates over energy sources dominate politics. “I don’t say this to be funny,” said Neil Chatterjee, who served as chairman of the Federal Energy Regulatory Commission… -
Dread filing taxes? Here’s why it’s so complicated and expensive.
Every year, Americans dread the first 3.5 months of the year as they navigate the complexities of filing a tax return or opt to pay a professional to do it for them. The Internal Revenue Service expects 146 million tax filings for the 2023 earning year. With so many people affected, one would think there… -
The ‘little guy’ may have the biggest say in Disney’s $70 million proxy fight
The fierce boardroom battle over Disney’s direction heads to a vote during the week of March 31. It is expected to be the most expensive proxy fight in history, with all sides dropping a collective $70 million to influence shareholder votes. Disney’s main foe is activist investor Nelson Peltz, who wants two seats on the… -
Is higher credit card debt actually good for the economy?
Americans are facing a record amount of credit card debt in 2024 at more than $1 trillion total. Adjusted for inflation, WalletHub says credit card debt is about 10% below its peak, which Americans hit in 2008 during the Great Recession. However, WalletHub estimates growing balances this year could put the inflation-adjusted record in striking… -
US credit card debt nearing 2008 record when adjusted for inflation
Credit card debt in the U.S. hit a record at the end of 2023 while high interest rates continue to push the debt balance even higher this year. The Federal Reserve recently reported U.S. credit card debt reached $1.13 trillion in the fourth quarter of 2023, up $143 billion from the year before. According to…
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