Year: 2018

The New York Daily News, the city’s scrappy, 99-year-old tabloid, is laying off half of its editorial staff, as U.S. newspapers continue to struggle with sharply declining advertising revenue and readership, it said on Monday. The cuts at the Pulitzer Prize-winning daily paper, known for eye-catching front-page headlines and taking on the city’s power players, including real estate developer Donald Trump long before he was elected president, drew criticism from both average readers and politicians who bristled at how the paper covered them. Owner Tronc Inc said the cuts are intended to make the paper a stronger competitor …read more […]

Shares of Amazon (AMZN) dipped nearly 2% shortly after the open on Monday, but the stock quickly bounced off that low as investors appeared unsure how to digest a handful of interesting headlines related to the e-commerce behemoth. …read more […]

U.S. sales of existing homes fell 0.6 percent in June, the third straight monthly decline, as higher prices and a limited supply of listings have sidelined many would-be buyers. The National Association of Realtors said Monday that homes sold last month at a seasonally adjusted annual pace of 5.38 million. Sam Khater, chief economist at mortgage buyer Freddie Mac, said the lack of meaningful pay raises could weigh on the housing market. …read more […]

Tesla has asked some suppliers to refund money paid by the electric car maker since 2016, the Wall Street Journal reported https://www.wsj.com/articles/tesla-asks-suppliers-for-cash-back-to-help-turn-a-profit-1532301091?mod=hp_lead_pos4 on Sunday citing a memo. The memo, which the paper said was sent by a global supply manager, described the request as essential to Tesla’s continued operation and characterized it as an investment in the car company to continue the long-term growth between both players. Tesla did not respond to a series of emails and phone calls seeking comment. …read more […]

Owing money in retirement isn’t ideal — but most people do. Seventy percent of U.S. households headed by people ages 65 to 74 had at least some debt in 2016, according to the Federal Reserve’s latest Survey of Consumer Finances. Mortgage debt, especially, can be a huge burden in retirement. …read more […]