Monthly Archives: September 2022

Bipartisan credit card bill feeds merchant-network feud with little tangible result in sight

The news: Retail titans Walmart and Target put their clout behind a letter signed by more than 1,600 merchants urging lawmakers to pass a bipartisan bill designed to lower credit card swipe fees, per the Wall Street Journal. The letter was sent to every member of Congress. Read the original article on Business Insider Read More

People in a retaken Ukrainian town had their phones checked to see if they had collaborated with Russia, report says

A Ukrainian soldier helps another adjust a blue identification ribbon on his sleeve in the recently retaken Kupiansk in the Kharkiv region of Ukraine on Sept. 14, 2022. AP Photo/Kostiantyn Liberov Locals of a retaken Ukrainian town reportedly had their phones checked for any signs of collaboration with Russian occupiers. Residents of Shevchenkove lined up outside of…

Mortgage rates leap above 6% for the first time in 14 years, further slamming home affordability as construction slows

Newsday LLC / Contributor/Getty Images The average rate on a 30-year mortgage topped 6% for the first time since 2008, Freddie Mac said Thursday. The rate is now more than double that seen one year ago, making homes far less affordable. With home construction slowing rapidly, buyers face a market with higher monthly payments and…

Zelenskyy met with Benedict Cumberbatch about the war in Ukraine: ‘Famous people help us get through to those nations whose government does not support Ukraine’

Volodymyr Zelenskyy / Benedict Cumberbatch Getty Images President Volodymyr Zelenskyy met with Benedict Cumberbatch about the war in Ukraine “And such famous people help us get through to those nations whose government does not support Ukraine,” Zelenskyy said.  Zelenskyy had previously met with other celebrities, including Ben Stiller and Jessica Chastain.  British actor Benedict Cumberbatch…

A part of the Treasury yield curve has just seen its steepest inversion since 2000 as bond markets flash recession warnings

Getty Images The two-year Treasury yield blew past the 30-year yield Thursday as inflation data causes a further inversion.  The spread between the two bonds marks the steepest inversion in nearly 22 years.  An inverted yield curve has historically been a reliable indicator of a coming recession.  The yield on the two-year Treasury bond pushed…

Rational choice theory: A school of thought that predicts economic and social behaviors

Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page. Rational choice theory is used in a wide range of fields for…

Microsoft executive says the economic environment is ‘arguably the most uncertain we’ve seen in decades’

Attendees at the Goldman Sachs technology conference in San Francisco on Sept. 12, 2022. Alistair Barr/Insider This week Goldman Sachs’ largest ever tech conference is happening in San Francisco. Tech executives from Microsoft, Qualcomm and Western Digital among others shared dour outlooks.  Chipmakers feel the early signs of weakened consumer demand, which could last well…