Monthly Archives: September 2022

Saudi Arabia is lowering oil prices for Asia and Europe but is hiking them for most US buyers

The logo of Aramco is seen as security personnel stand before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. Hamad I Mohammed/Reuters Saudi Arabia is lowering the price of its premier crude for buyers in Asia and Europe but hiking US prices.  Saudi…

Biden is making it clear that his broad student-loan forgiveness plan is a ‘one-time’ action

President Joe Biden. Tom Williams/CQ-Roll Call, Inc via Getty Images Biden announced the cancellation of up to $20,000 in student loan debt for some federal borrowers. His administration is framing it as “one-time” broad relief. Future relief will likely be targeted at certain borrower groups through existing programs. Amid celebrations of Biden’s announcement to forgive…

China’s top energy firms are sending natural gas to European nations struggling with Russia’s supply cuts

Chinese President Xi Jinping sits down during a visit to Renmin University of China in Beijing, capital of China, April 25, 2022. Ju Peng/Xinhua via Getty Images Traders told Bloomberg that Chinese energy groups are sending liquefied natural gas to European nations.  Major firms including Sinopec have send natural gas shipments to Europe throughout the…

Scotland is barring landlords from raising rent amid a cost-of-living crisis sweeping Europe and the UK

Rents in Scotland will be capped as the country faces an energy crisis. Nicola Sturgeon/Associated Press Like much of the UK, Scotland is experiencing a cost-of-living crisis. First Minister Nicola Sturgeon just announced a freeze on rent payments and train fares. Rents will be capped at £2,500 a month, about $2,900 US dollars.  Scotland’s cost-of-living…

Sony’s PlayStation 5 is still hard to find nearly 2 years after launch — here are the latest details on where to buy a PS5

When you buy through our links, Insider may earn an affiliate commission. Learn more. BI Photo Isabel Fernandez Pujol Sony’s PlayStation 5 comes in two models — a $500 standard edition and a $400 digital edition. The PS5 is still difficult to find, but retailers like Walmart, Best Buy and GameStop restock regularly. Sony says…

Safe harbor 401(k) plans provide tax advantages to employees and employers alike

Safe harbor 401(k)s help employers avoid expensive and burdensome IRS testing requirements. Tom Werner/Getty A safe harbor 401(k) plan is a simpler version of a traditional 401(k) retirement plan. Employers with safe harbor 401(k)s must contribute to employee accounts through matching or non-elective contributions. In return, employers are able to avoid burdensome IRS testing requirements….

Why Obama is just now getting his portrait officially unveiled in the White House, two presidents later

Former First Lady Michelle Obama and former President Barack Obama at the Smithsonian National Portrait Gallery on February 12, 2018 in Washington, DC. Matt McClain/The Washington Post via Getty Images Barack and Michelle Obama will return to the White House Wednesday to finally reveal their portraits. The ceremony was delayed for two years after Trump…

Why the Fed won’t be able to avoid a recession or bring inflation down to its 2% target, according to BlackRock

Fed Chairman Jerome Powell. Reuters/Joshua Roberts The Fed may not be able to avoid a recession – and may not be able to bring inflation down to its 2% target either, according to BlackRock. “The Fed will be surprised by the growth damage caused by its tightening,” analysts said in a note on Tuesday. The…