Economy
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Pride Month: These are the 5 most LGBTQ-friendly states in the U.S. — and the least
A number of states are becoming less friendly toward LGBTQ+ people — and they’re putting themselves at economic risk as a result. That’s according to the annual LGBTQ+ Business Climate Index survey from Out Leadership, an organization that connects LGBTQ+ people and their allies with companies around the world. The survey tracks all 50 states…
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Why the ‘easy money’ has been made in the stock-market rally — and what comes next
A revitalized 2023 stock-market rally finally ran out of fizz last week. And it might take some time to get back on track in the face of a dip in market liquidity and signs that a surge of buying fueled by “fear of missing out” has largely run its course. “We don’t think the rally…
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San Francisco landlords borrowed $9 billion from Wall Street. Now they want big tax relief from a struggling city.
San Francisco commercial property owners with almost $9 billion in outstanding loans from Wall Street are seeking tax relief from a city bracing for a budget shortfall that’s expected to eclipse $1.2 billion in five years, according to Barclays. The requests come from many owners of San Francisco’s best known office buildings, hotels and retail…
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What we know — and don’t know — about the Russian rebellion
What we’re seeing in Russia this weekend appears to be the most direct challenge to the near-quarter-century rule of Vladimir Putin. It is the direct result of the bungled war he launched against Ukraine 16 months ago today. That his onetime ally Yevgeny V. Prigozhin — whose quasi-private army, the Wagner Group, has turned on…
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Rebellion in Russia could trigger selloff in U.S. stocks and flight to safe assets, analysts say. Here’s what investors should know.
Watch what happens over the next 36 hours. That was the advice from one financial analyst as U.S. investors awoke on Saturday to news of an apparent armed rebellion against Moscow led by Yevgeny Prigozhin, the owner of the powerful Russian mercenary organization Wagner Group. Others speculated that the crisis in Russia could drive U.S.…
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Q2 profits are set for their biggest drop since the pandemic, but then the worst may be over for the year
Wall Street is expecting a third straight quarter of falling profits and the worst decrease since the pandemic in 2020, when second quarter earnings are reported in July, but that may be the bottom for this year. Wall Street expects per-share profit for S&P 500 index companies to fall 6.5% for the second quarter, according…
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The magic number for retirement climbs as most Americans expect to work longer — except Gen Z
Americans think they’ll need $1.27 million to retire comfortably, but they plan to work longer to amass that nest egg. The new magic number for retirement is up slightly from last year, when U.S. adults said they believed they needed $1.25 million to retire comfortably, according to new findings from Northwestern Mutual. High-net-worth individuals –…
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Nearly 22 million households spend more than they can afford on rent, Harvard report says
The number of cost-burdened renters — or people who spend more than the recommended 30% of their income on housing each month — is at a record high as affordability declines nationwide, according to a report from Harvard University’s Joint Center for Housing Studies published Wednesday. In 2021, the report said, there were a record 21.6 million…
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Credit-card debt burdens are worst in this state. Here’s why.
Credit-card customers in Mississippi are living with the highest “debt burden” nationwide, according to a new report. That’s despite the fact that Mississippi has a relatively low “debt load” when compared to other states, said Ted Rossman, a senior industry analyst at CreditCards.com, which published the report Tuesday. The average bank card balance there is…
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Kroger investors vote for report on racial and gender pay gaps
A majority of Kroger Co. investors on Thursday approved a shareholder resolution calling for the supermarket giant to produce a report on racial and gender pay equity for its hundreds of thousands of employees. In the proposal, the filers noted that women and people of color were underrepresented in leadership roles at Kroger KR, +0.15%.…