The federal debt surpassed $40 trillion for the first time this week. Investors buying government bonds are demanding higher interest rates to finance the growing debt load. Mandel Ngan/AFP hide title toggle title Mandel Ngan/AFP Subscribe to the Planet Money newsletter. The world is confusing. The economy can help. The Treasury Department reported this week … Read more
Westend61 | Westend61 | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide for high-net-worth investors and consumers. Sign up to receive future issues directly to your inbox. Battles over aging parents and their fortunes are becoming increasingly common in wealthy families, and some … Read more
St. George is a city and the county seat of Washington County, Utah, United States. Located in southwestern Utah, on the border with Arizona, Denistangneyjr | Stock | Getty Images A version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the … Read more
HONG KONG (AP) — Chinese real estate developer Hui Ka Yan, founder of real estate group Evergrande, was sentenced to life in prison and the companies were fined a total of more than $2 billion, a court in the southern city of Shenzhen said Thursday. The decision marks a milestone in Evergrande’s saga after it … Read more
Genesis is going big. The luxury carmaker has officially unveiled the new GV90, its first full-size SUV with three rows of seats and the largest model in the brand’s range. Based on the Neolun concept that debuted in 2024, the GV90 puts much of that concept’s spectacular design and lounge-like interior into production. The GV90 … Read more
photo | Future publications | Getty Images SK Hynix shares rose more than 12% in Seoul on Thursday after the company announced a massive share buyback. The company said it is accelerating its 40 trillion won ($28.7 billion) share buyback and write-off program as it seeks an expansion of shareholder returns to more than 50% … Read more
WASHINGTON (7News) — The U.S. national debt surpassed a record $40 trillion this week, a figure that economists and lawmakers expect to continue rising. Data from the Joint Economic Committee of the US Congress reveals that debt grew at a staggering rate of $90,000 per second over the past year. 19-year-old illegal immigrant arrested after … Read more
Treasury Secretary Scott Bessent acted Wednesday to prevent a potentially destabilizing rise in the government’s borrowing costs, doubling the size of a planned public debt buyback to $4 billion. The move caused the yield on the 30-year Treasury bond, which influences lending rates to businesses and consumers, to fall a day after reaching its highest … Read more
President Donald Trump spoke Wednesday at a White House meeting of top financial and cryptocurrency industry executives ahead of the Commodity Future Trading Commission’s Innovation Advisory Committee meeting on Thursday. The Clarity Act will finally get its vote in the Senate in September, Sen. Cynthia Lummis confirmed Tuesday. But regulators are getting the upper hand … Read more
Federal Reserve officials indicated at their last meeting that they would need to raise interest rates soon unless there was more progress in reducing inflation, minutes released Wednesday showed. “Many participants assessed that tightening policy would probably be necessary if inflation did not decline,” said the summary of the meeting, held on July 28 and … Read more