A picture shows the British coat of arms on the outside the Supreme Court in central London on August 1, 2025. Niklas Halle’n | Afp | Getty ImagesBritain’s highest court Friday largely overturned a lower court’s ruling that certain car finance agreements were unlawful, a decision likely to bring a sigh of relief among lenders and limit the scale of compensation payments.A Supreme Court panel of five judges sided with lenders on two of the three issues at hand, finding that they are effectively not liable for hidden commission payments to dealers. It said there was no bribery involved in the…
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Today, after a year-long pause, interest resumed on student loans enrolled in the Saving on a Valuable Education (SAVE) plan.Launched by the Biden administration in 2023, SAVE was intended to give borrowers an affordable path to repaying student loans. But it’s been in limbo since last summer, when federal courts blocked it in response to a lawsuit from GOP state attorneys general. Since then, the loans have remained in forbearance. SAVE will officially end in July 2028, as part of a larger overhaul of the government’s student loan program that includes ending new applications for the Income-Contingent Repayment (ICR) Plan and…
Sam Altman, CEO of OpenAI attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, U.S., on July 8, 2025. David A. Grogan | CNBCOpenAI has secured $8.3 billion in new capital as part of its $40 billion fundraise, according to a person familiar with the transaction. The fresh capital comes as the artificial intelligence company’s business accelerates. Annual recurring revenue jumped to $13 billion, up from $10 billion in June, said the person, who spoke on condition of anonymity to discuss confidential financial information, and is projected to…
A surprisingly lackluster jobs report Friday morning left CNBC’s Jim Cramer with one key takeaway: The Federal Reserve needs to cut interest rates. “We have very little job growth, and we have wages that are not going up,” Cramer said during “Squawk on the Street.” “That is when you cut.” Before the open, the government reported nonfarm payroll growth of 73,000 in July — much weaker than the 100,000 economists had expected. May and June were revised down a combined 258,000. The nation’s unemployment rate ticked up, as expected, to 4.2% last month. Wages, as measured by average hourly earnings,…
President Trump’s trade war has already loomed large over the back-to-school and holiday season ordering of retailers. Spring season is next, and it is occurring just as Trump’s latest sweeping global tariffs take effect.While Spring 2026 may seem relatively far off into the future, for retailers, now is the time of year when they plan spring orders, and both retailing and manufacturing experts say the tariffs will influence the level of activity.The retail industry warned on Friday that the latest tariffs may lead to higher prices, fewer products on the shelves, and job losses.”Continued high tariffs from key sourcing countries,…
The ‘Fast Money’ traders talk stocks sinking on tariff worries and weak jobs data. Source link
UNITED STATES – JULY 29: From left, Chairman Tim Scott, R-S.C., Sen. Tina Smith, D-Minn., and ranking member Sen. Elizabeth Warren, D-Mass., attend the Senate Banking, Housing and Urban Affairs Committee markup of the ROAD to Housing Act, in Dirksen building on Tuesday, July 29, 2025. (Tom Williams/CQ-Roll Call, Inc via Getty Images)Tom Williams | Cq-roll Call, Inc. | Getty ImagesA Senate committee approved a major housing bill this week, with a range of provisions that could make it easier for people to buy a home.On Tuesday, the Senate Committee on Banking, Housing, and Urban Affairs unanimously voted to advance…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailFast MoneyDavid Zervos, Jefferies, joins ‘Fast Money’ to talk why he thinks there are still reasons to be bullish in this market.05:185 hours ago Source link
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market moves : The S & P 500 was dropping almost 2% on Friday as weak jobs and new tariff levels unsettled the market. Investors also were digesting President Donald Trump’s decision to order the firing of the labor statistics commissioner , alleging political manipulation of jobs data. After closing at a record high on Monday, the index was set to finish the week on a four-session losing streak. While some…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailFast MoneyDavid Zervos, Jefferies, joins ‘Fast Money’ to talk why he thinks there are still reasons to be bullish in this market.10:104 hours ago Source link
