Author: Money Mechanics

The latest salvo in Trump’s tariff policy hit yesterday, apparently leaving only the reciprocal tariffs for the big April 2nd “Liberation Day” announcement. (I will remind readers that I will be away next week, and so I will probably miss writing about “Liberation Day” in a timely fashion. We will probably be on the following wave of retaliatory tariffs by the time I get back.)American economic data releases remain solid, which matches what I have been arguing — nothing much from a macro perspective has happened yet. The cuts made to government functions have destroyed state capacity without reducing spending…

Asking rents climbed 3% in August as slowing supply and robust demand gave landlords more bargaining power; the number of new apartments hitting the market has dropped 45% since the pandemic building boom. Chicago saw the biggest jump in asking rents (+11%), while only three metros saw declines, led by Austin, TX (-3%). Asking rents rose fastest for 0-1 bedroom apartments (+4%), followed by 2 bedroom and 3+ bedroom apartments. The median U.S. asking rent rose 2.6% ($45) year over year to $1,790 in August—the largest increase since December 2022. It’s now just $70 below the record high hit in…

YouTube announced on Wednesday that its multi-language audio feature has officially launched after a two-year-long pilot. Now, millions of YouTubers can add dubbing to their videos in different languages, helping them reach a wider global audience. The rollout is expected to happen over the coming weeks. The feature initially launched as a pilot in 2023, available to a limited number of creators, including MrBeast, Mark Rober, and chef Jamie Oliver. Creators had to work with third-party dubbing services until YouTube introduced an AI-powered auto-dubbing tool that leverages Google’s Gemini technology to replicate a creator’s tone and emotions. Since its launch,…

(World Oil) – The U.S. oil industry is facing significant challenges, having laid off thousands of workers and reduced billions in spending due to declining oil prices and major industry consolidation. This shift may signal the end of the rapid output growth that once positioned the U.S. as the top global producer. In response, the Organization of the Petroleum Exporting Countries and its partners in the OPEC+ group are ramping up production to reclaim market share lost to the U.S. and other producers. On Sunday, OPEC+ announced plans to increase output by 137,000 barrels per day starting in October. These…

Key Takeaways Oracle chair and co-founder Larry Ellison’s net worth jumped more than $100 billion in a single day after the company reported strong quarterly earnings, bringing his net worth to $393 billion, according to Bloomberg.That’s ahead of Elon Musk’s $385 billion, according to the Bloomberg Billionaires Index.Growth in Oracle’s AI infrastructure drove the surge as the company signed deals worth $455 billion in future revenue. Oracle’s transformation into an AI infrastructure powerhouse has catapulted Larry Ellison ahead of Musk to take the title of the world’s richest person. The 81-year-old database pioneer’s net worth surged by more than $100…

Key Takeaways Cameron and Tyler Winklevoss-founded crypto exchange Gemini Space Station boosted its IPO range after Nasdaq agreed to invest $50 million in a private placement.The company now expects to shop shares in the range of $24 to $26, up from $17 to $19 previously, the latest sign of strong demand for new crypto listings. The crypto exchange founded by twin brothers Cameron and Tyler Winklevoss looks poised to be the next hot crypto IPO. Gemini Space Station on Wednesday raised the range at which it expects its initial public offering to $24 to $26; it still plans to offer…

Key Takeaways Seven of the top 10 median highest-paying majors are in engineering, with early-career salaries starting at $70,000 to $80,000. Mid-career growth is strong for these majors as well, with most seeing a median of $120,000 or more by mid-career. Even outside the top-paying majors, college grads typically earn far more than those with only a high school diploma. Skills matter in every field for boosting your employability in any major: strategic internships, certificates, and AI literacy can help boost pay. Choosing a college major is a big decision, and while passion matters, so does having a paycheck to…

Editor’s note: This is part one of a two-part series about forced Section 721 UPREIT conversions when a Delaware statutory trust (DST) goes full-cycle and reaches the end of its hold period. Part two will discuss the flip side of these forced conversions, as well as preferred alternatives. IMPORTANT MEMORANDUMTO: All 1031 exchange, 721 exchange UPREIT and Delaware statutory trust investorsFROM: Dwight Kay, founder and CEO of Kay Properties & InvestmentsSUBJECT: Risks of forced DST-UPREIT conversions From just $107.88 $24.99 for Kiplinger Personal Finance Be a smarter, better informed investor. CLICK FOR FREE ISSUE Sign up for Kiplinger’s Free Newsletters…

You may have heard mentions of No-Spend September from friends and colleagues. The month-long spending freeze challenge has gained great popularity on social media, and the sense of community behind the challenge can help motivate a spending reset and positive personal finance decisions. Whether you’re ready to reset your spending habits after the summer or want to save money for a financial goal, the challenge could help – and there’s still time to join in.What is No-Spend September — and why is it trending?No-Spend September has been making the rounds on social media as a month-long challenge to spend only…

Key Takeaways GameStop’s second-quarter results exceeded analysts’ estimates on strong sales of hardware and collectibles.The video game retailer also announced it had purchased 4,710 bitcoin in the quarter, with a value of $528.6 million as of Aug. 2, when the quarter ended.GameStop will distribute a special dividend to shareholders next month in the form of warrants. GameStop (GME) shares rose after the video game retailer posted better-than-expected results and announced it now held more than half a billion dollars worth of bitcoin. The company late Tuesday reported second-quarter adjusted earnings per share of $0.25, which was $0.06 more than analysts…