Sometimes the key to building wealth is just sticking around, new Federal Reserve data suggests. The 18 million U.S. households headed by someone 75 or older have the highest median net worth of any age group, according to the Fed’s triennial Survey of Consumer Finances. Americans in that demographic had a median net worth of $504,000…
A law designed to protect patients from surprise medical bills succeeded in eliminating unexpected charges, but spawned a lucrative arbitration industry with providers and specialized middlemen extracting payments far above benchmark billing rates. The practice is ultimately driving up healthcare costs for consumers, a CBS News investigation found. The arbitration system Congress created to settle…
An attorney for Disney’s ABC asked a federal judge on Tuesday to block the Federal Communications Commission from conducting an early review of the network’s broadcast licenses, saying the regulatory proceeding was initiated to retaliate against ABC over content that offended the Trump administration. During a roughly two-hour hearing in federal court in Washington, D.C.,…
Michael Jordan is back in the spotlight for something he’s no stranger to: winning. Jordan’s NASCAR team, 23XI Racing, has been dominating this season, securing victories in four out of six races so far, including the prestigious Daytona 500. But his success isn’t just limited to the track. Before the season kicked off, Jordan and…
Defense Secretary Pete Hegseth signed a memo Tuesday directing institutions like the Military Academy at West Point and the Naval Academy in Annapolis to immediately stop granting tenure to civilian faculty, in Hegseth’s latest change to military higher education. “Tenure often leads to academic stagnation, faculty complacency, and institutional inability to adapt to emerging needs,”…
The Justice Department said Thursday it was seeking to end more than 50 long-standing consent decrees dating back decades that sought to curb unlawful racial segregation that was prevalent during the Jim Crow era. Harmeet Dhillon, the assistant attorney general for the Justice Department’s Civil Rights Division, said her office was “ending prolonged federal oversight…
The bond market is flashing red. The yield on the 30-year Treasury note reached 5.44% on Wednesday, its highest level since 2004, before slipping slightly on Thursday morning. The 10-year Treasury, which influences mortgage rates, briefly neared 5.15% on Thursday morning, a level it last reached in 2001. Yields had already risen amid concerns about inflation…
Washington — The House unanimously agreed to hold billionaire investor Leon Black in contempt of Congress for defying subpoenas as part of lawmakers’ investigation into the late Jeffrey Epstein. The measure was passed by unanimous consent a day after the House Oversight Committee voted 41-0 to recommend holding him in contempt. The matter now heads…
Washington — The House Oversight Committee voted 41-0 to recommend holding billionaire investor Leon Black in contempt of Congress for defying subpoenas as part of its investigation into the late Jeffrey Epstein. Black, a former business associate of the convicted sex offender, did not comply with subpoenas to appear before the committee on Sept. 3…
The U.S. economy has remained resilient over the past two years despite a slowing labor market, trade wars and resurgent inflation, but economists are now warning that a convergence of new and lingering threats could test its strength. The “worry list is growing more worrisome,” Ed Yardeni, president and chief investment strategist of Yardeni Research,…
