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Here at Jalopnik, we know there’s nothing wrong with keeping a beloved old beater running for mile after mile, and we regularly celebrate high mileage heroes. Now, it turns out the rest of America is catching onto this way of thinking as the savings of holding onto an old car for longer begin mounting up. Drivers across the country are increasingly holding onto their cars for longer than ever, with an increasing number hitting more than 100,000 miles in their cars, according to a new report from the Wall Street Journal. The trend comes as drivers realize the savings to...

mid rising tensions and a backdrop of Russian aggression in Ukraine, Poland has issued a stark admonition regarding the potential repercussions of a direct military conflict between Russia and NATO. Polish Foreign Minister Radosław Sikorski, addressing the Sejm, Poland’s lower house of parliament, underscored that an attack by Russia on any NATO member would not only be a strategic blunder but would result in Russia’s “inevitable defeat.”

epublic First Bank, a Pennsylvania-based financial institution, has collapsed, with the FDIC covering customers’ deposits by transferring them to Fulton Bank after an agreement was reached with the federal agency. This is the first major bank collapse this year, following five that occurred in 2023, as the high-interest rate environment destabilized the balance sheets of major financial players. When Silicon Valley Bank (SVB)collapsed in spring 2023, many economists warned that more could follow—and they did. Signature Bank, First Republic Bank, Heartland Tri-State Bank, and Citizens Bank collapsed in the succeeding months, a sign of instability as the Federal Reserve’s monetary...

Fidelity’s 2024 State of Retirement Planning shows that TikToker @my_secrets_untold is part of the “new retirement,” wherein 57% of Americans plan to keep working after retirement — at least part-time. Of those planning to delay retirement, two-thirds are in the same boat as @my_secrets_untold: they’re doing it out of financial necessity. Working past 65 will give you a greater safety net because you’ll still have income coming in. You can’t just rely on Social Security, which currently doesn’t offer most retirees enough money to live on — particularly when paying for health care (a major concern for many Fidelity respondents)....

Slower growth and rising inflation has brought back distant cries that stagflation is coming. This would force interest rates to stay higher for longer, putting pressure on US businesses and consumers. One investor says anyone looking to hedge this risk should focus on fixed income. A pair of economic reports has brought back a word no central banker ever wants to hear: stagflation. The difficult scenario occurs when inflation rises and growth stalls, a dangerous combination just experienced by the US economy. Worries emerged when Thursday's first-quarter GDP reading slumped against expectations, growing at an annualized 1.6% rate. That's a...

UBS Group Chairman Colm Kelleher on Wednesday said that the Swiss bank is "not too big to fail," as he criticized Swiss government proposals to strengthen its capital requirements. "UBS is not too big to fail. UBS is one of the best capitalized banks in Europe, with a sustainable business model and a corresponding low-risk balance sheet," Kelleher said. The Swiss government earlier this month made a range of recommendations aimed at protecting the wider economy from potential instability at UBS and three other major banks.

-A year after Silicon Valley Bank's failure, less than half of U.S. banks have established borrowing capacity by pledging collateral at the Federal Reserve's emergency lending facility, according to Fed data released on Friday. That's despite a crescendo of calls from financial regulators for banks to make sure they can access the Fed's discount window quickly if trouble arises. But the data also showed some real progress, with an increase in the number of banks signing up and a jump in the amount of total collateral pledged. SVB's inability to access the window in March of last year in the...

Between earthquakes popping up in unusual places, murder hornets making a brief debut a couple years ago (remember those?) and the price of a Trader Joe’s banana rising for the first time in decades, the world seems to be increasingly unpredictable. Much like a Mentos mint popped into a Coke bottle, the pressure is bubbling and potentially set to burst. But the prime fear among doomsday preppers is less out-of-this-world, like an alien invasion or zombie apocalypse; rather, it takes place on Wall Street’s doorstep. A third (33%) of Americans fear the end of the U.S. will be the result...

The U.S. and China are deepening co-operation on financial stability issues, Treasury Secretary Janet Yellen said on Monday, with more simulations of financial shocks due after a recent exercise on tackling the failure of a large bank. Wrapping up four days of meetings in China, Yellen issued a stern warning to Chinese banks that facilitating transactions providing material support or dual-use goods to Russia for its Ukraine war effort would lead to "significant consequences."

"I didn't buy groceries last pay period" "You know why?" "I currently am being charged over $200 a month, for a CARBON TAX" "There's an extra $40 on my gas bill and $187 extra on my hydro bill" "Canadians are suffering" "I fill my SUV to go to work and it used to cost me $71. Now it costs me $98" "It shouldn't have to be this way" "It's sad" "I work full time" https://media2.giphy.com/media/3oEjI8Kq5HhZLCrqBW/giphy.gif

Zimbabwe has 2.5 tonnes of gold reserves and $300mn in cash, according to senior government officials, speaking on the eve of the anticipated rollout of a new gold-backed currency. Incoming Reserve Bank of Zimbabwe (RBZ) governor, John Mushayavanhu told President Emmerson Mnangagwa during a tour of the bank's vaults on April 5 that 1.5t of the gold is being kept locally while a tonne is being held offshore. The gold and other precious minerals such as diamonds that are in reserve are worth $175mn.

Zimbabwe has introduced a new currency, the ZiG, as announced by the new Reserve Bank of Zimbabwe (RBZ) Governor, John Mushayavanhu, in his long-awaited 2024 Monetary Policy Statement. The introduction of the ZiG, which stands for “Zimbabwe Gold,” marks a significant shift in the nation’s financial landscape.

Buckle up, because Zimbabwe’s going for a wild ride down Gold Lane, ditching the US dollar like it’s out of fashion. Under President Emmerson Mnangagwa’s regime, this southern African gem is shaking up its monetary system yet again. This time, they’re pulling a bold move by introducing a new gold-backed currency.

EVs are really heavy compared to their gas-powered brethren. The heavy battery packs that power the electric motors in electric cars and enable their long trips between charging sessions tend to be the culprit of bloated EVs, which concerns Stellantis (STLA) CEO Carlos Tavares.

Men are turning away from college and the shift could have profound implications for the economy, their health and the American family. Today, only 39% of young men who have completed high school are enrolled in college, down from 47% in 2011, according to a recent analysis by Pew Research. That works out to about 1 million fewer young men in college compared to just over a decade ago. The trend isn’t new but as scholars like Richard Reeves have pointed out, the gradual retreat from higher education signals a larger crisis facing boys and men.

China issued a travel advisory for citizens visiting the United States, asking them to take safety precautions and be prepared for "various unexpected situations", such as being searched. Several Chinese students and company employees have recently been subjected to "unwarranted interrogations and harassment" by US airport law enforcement officers, the Ministry of Foreign Affairs said on its WeChat account on Friday. Their phones, computers and other luggage items were searched piece by piece, and several people were banned from entering the country, it said. Do you have questions about the biggest topics and trends from around the world? Get the...

Larry Fink, CEO of BlackRock, the world’s largest asset manager, has issued a stark warning about America’s escalating debt, which currently stands at a staggering $34 trillion and continues to grow. Fink cautioned that the nation’s trajectory could lead to a crisis reminiscent of Japan’s lost decade. He emphasized that Washington should not assume that investors will indefinitely fund the country’s fiscal deficit. In his annual letter to investors, Fink highlighted the recent three-percentage-point increase in U.S. Treasury yields to 4%, which reflects longer-term inflation expectations and the Federal Reserve’s aggressive interest rate hikes. He described this development as highly...

In his annual letter to shareholders, Fink called the decreasing ability to retire in a financially sound way one of the biggest economic challenges of the mid-21st century. "Today in America, the retirement message that the government and companies tell their workers is effectively: 'You're on your own,'" Fink wrote. A federal law that will require employers with 401(k) plans to auto enroll new workers provides a bright spot, he said.

<p>That's according to the 2024 USA Wealth Report put out by investment migration consultancy Henley & Partners and New World Wealth, which finds there are now more Americans applying for residence and citizenship-by-investment programs than citizens of any other country. Over the past five years, inquiries from the U.S. about these programs have increased by 500%.</p>

ccording to the local news, there's a new crime trend here in California, which is almost certain to make its way across the country and around the world, if it hasn’t already. RELATED: ‘Bump and Rob’ is an Old Scheme But a New Trend – Here’s What You Need to Know to Stay Safe