Millions of Americans are struggling with mounting credit card debt, and these surging credit card balances increased by $61 billion in the fourth quarter of 2022 to $986 billion. These staggering figures are already higher than pre-pandemic levels of $927 billion, according to a report from the Federal Reserve Bank…

Berkshire Hathaway Vice-Chair Charlie Munger said Monday that a storm is brewing in the U.S. commercial property market. As property prices fall, Munger said American banks are “full of bad loans.””It’s not nearly as bad as it was in 2008,” he told the Financial Times. “But trouble happens to banking…

The Department of Education has issued guidance to student loan companies about collecting federal student loan payments after a three-year pause, according to documents obtained by Politico through a federal records request.  The documents, which were filed in November, indicated that the Education Department expected the first monthly payments to…

The Securities and Exchange Commission (SEC) is suing U.S. cryptocurrency exchange Coinbase Inc., accusing it of operating as an unregistered broker. Shares tumbled on the development along with Bitcoin which is trading down around the $25,000 level. Ticker Security Last Change Change % COIN COINBASE GLOBAL INC. 48.86 -9.85 -16.77% In…

Global drugmaker Merck on Tuesday sued the Biden administration over Medicare’s new powers to substantially reduce drug prices for seniors under the Inflation Reduction Act, the opening salvo in the pharmaceutical industry’s efforts to weaken the program.In a scathing complaint filed in federal district court, Merck excoriated the negotiation process…

Apple let some people try out its new Vision Pro mixed-reality headset. People seem genuinely impressed by Apple’s technology, but the device is notably heavy for long wear, and some users were left with questions about what the headsets will ultimately be used for.If you missed it, Apple announced its headset on…

Microsoft will pay $20 million to settle US government allegations that the tech giant violated children’s privacy by illegally collecting their personal information through its Xbox Live gaming service. According to the Federal Trade Commission, Microsoft broke the law by failing to tell parents about the full breadth of information…

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