Author: Money Mechanics

As one of the leaders in the reverse industry, Longbridge currently employs 477 people. The company shared internal data that it has promoted more than 40 people and made more than 90 external hires in the past year, growing its headcount by 12%. This interview has been edited for length and clarity. Neil Pierson: Can you outline the current problems around recruiting and hiring in the reverse mortgage industry? Could those problems get worse based on the expectation that consumer demand is expected to go up? And what’s the plan at Longbridge to address these issues? Melissa Macerato: Historically, it…

OpenAI today launched a new, cheaper ChatGPT paid subscription plan in India called ChatGPT GO, priced at ₹399 per month ($4.60), which is more affordable than the ₹1,999 (about $23) per month Plus Plan. The company had turned on local currency pricing for all its plans a few days ago, and with this launch, it will also allow users to pay through UPI (Unified Payment Interface), India’s payment framework. Nick Turley, VP at OpenAI and head of ChatGPT, said that this plan will increase the message, image generation, and file uploads by 10 times over the free tier. The ChatGPT…

Capital gains taxes can eat into the profits you make from selling investments, sometimes leaving you with less money than you might have expected.But one state has changed its tax policy to help its residents keep more of their hard-earned profits.On July 10, 2025, Missouri Gov. Mike Kehoe signed House Bill 594 into law. The legislation eliminates the state tax on capital gains for individuals as of January 1, 2025. Subscribe to Kiplinger’s Personal Finance Be a smarter, better informed investor. Save up to 74% Sign up for Kiplinger’s Free E-Newsletters Profit and prosper with the best of expert advice…

The broader equities market is trading lower at last check on Thursday as participants react to a hotter-than-expected reading on wholesale prices. But not all of the price action at the individual level is negative.While Deere (DE) slumps post-earnings, Bullish (BLSH) is continuing its post-IPO climb and dLocal (DLO) is soaring after its Q2 beat.Here’s a closer look at some of Thursday’s biggest market movers. Subscribe to Kiplinger’s Personal Finance Be a smarter, better informed investor. Save up to 74% Sign up for Kiplinger’s Free E-Newsletters Profit and prosper with the best of expert advice on investing, taxes, retirement, personal…

The new Ford Universal EV Platform could mark a turning point in the electric vehicle (EV) industry, making these vehicles more affordably priced and accessible to buyers.President Donald Trump’s 2025 tax reform bill will cause the federal EV tax credit to expire for vehicles purchased or leased after September 30, 2025.With fewer incentives to prompt customers to buy EVs, manufacturers will need to pivot and find new ways to stay competitive in the market. The new Ford platform and its $30K electric pickup could do just that. Subscribe to Kiplinger’s Personal Finance Be a smarter, better informed investor. Save up…

Shoppers may not be surprised to learn that sometimes retailers don’t always offer the most upfront pricing, but Walmart was recently accused of making a major mistake that could negatively affect the trust of its shoppers and how they view the overall brand.Walmart has agreed to pay $5.6 million to settle a consumer-protection lawsuit brought by four California counties, including Santa Clara, San Diego, San Bernardino and Sonoma.Allegations were made that the retailer charged more than the lowest advertised price and mislabeled product weights on certain items such as produce, bakery and prepared foods. Subscribe to Kiplinger’s Personal Finance Be…

Key Takeaways Novo Nordisk’s blockbuster weight-loss drug, Wegovy, received Food and Drug Administration approval to treat a serious disease of the liver.Wegovy can be used for patients suffering from noncirrhotic metabolic dysfunction-associated steatohepatitis, or MASH.The company said MASH affects one in three overweight or obese people, including 22 million in the U.S. U.S.-listed shares of Novo Nordisk (NVO) gained 4% in premarket trading after the Food and Drug Administration (FDA) approved the pharmaceutical firm’s popular weight-loss drug, Wegovy, to treat a serious liver disease. The Denmark-based firm reported the FDA said Wegovy could be used for adults suffering from noncirrhotic…

Social Security turns 90 years old on August 14. President Franklin Delano Roosevelt signed the program into law in 1935 during the Great Depression. Today, this federal program provides benefits to 70 million retired workers, disabled workers, and their families.At the time the program was enacted, the world was still in the throes of the Great Depression, and, in the absence of welfare programs, poverty was rampant. At the height of the Depression in 1933, 24.9% of the total workforce (12,830,000 people) was unemployed. Things were better for those still employed, but not by much. Wage income for workers fell…

Bitcoin (BTCUSD) prices fell Monday as investors continued to take profits after the token hit record highs last week. The token, which hit a record high of $124,500 early Thursday, was down around 2% at about $115,179. Ether, the second-biggest digital coin, is also down, falling 3% at around $4,335, while XRP dropped around 4%.  President Donald Trump signed an executive order earlier this month that would open the door for workers to invest in crypto and other alternative assets in their 401(k) retirement accounts, buoying prices of the asset class.  Meanwhile, crypto-tied stocks are dropping in premarket trading Monday.…

Key Takeaways Solar stocks surged Monday after the Treasury Department released new guidance on projects that could qualify for clean energy tax credits.While the latest guidelines narrow what kind of projects can apply, analysts said they are less restrictive than feared.First Solar, Sunrun, Enphase Energy, and SolarEdge shares all climbed Monday. Solar stocks are surging after the Treasury Department released guidance on the kind of projects that can qualify for clean energy tax credits that was less restrictive than investors feared. Shares of First Solar (FSLR) were up over 9% in recent trading, making it the best-performing stock in the…