Author: Money Mechanics

At a time when college costs are spiraling out of control for many families, city, state and federal governments are offering relief. In the latest example, New York City has a proposal that would give kindergarteners $1,000 into a college savings account, with some families qualifying for up to $3,000.Who qualifies for the maximum benefit? Jack Lobel, press secretary of the New York City Council, told Kiplinger, “Any participant who is already eligible for Human Resources Administration (HRA) benefits receives an additional $2,000 on top of the $1,000.” The HRA is NYC’s social service agency serving families by providing food,…

Money is a story we agree to believe. A dollar buys a dollar’s worth because we all act as if it does, and a company is worth whatever the next buyer will pay, not a penny more. For most of the past century, the biggest stores of that belief were countries and the giant public companies their citizens could actually own a slice of. You could buy Coca-Cola, your local bank, or the carmaker down the highway, and the value sat in plain sight on a stock exchange. That arrangement is quietly breaking. Some of the most valuable enterprises on…

The US-Iran conflict has now persisted for 97 days, with a peace agreement remaining elusive. Although tensions have eased on the Israel-Lebanon front, are expected to remain elevated, sustaining inflationary pressures for an extended period. Additionally, the global economy continues to experience adverse effects from trade tariffs imposed by the Trump administration in 2025. The tussle between the US and Iran has resulted in the choking of the Strait of Hormuz since the beginning of this truce between them, causing global energy crises and elevated global stagflation fears, which might be a challenging task for global central banks.Most of the…

The California Earthquake Authority’s (CEA) reinsurance program limit continued to grow through the first four months of 2026, to end April at just over $8.2 billion, with catastrophe bonds at the time providing $2.875 billion of that.When we last reported on this significant buyer of risk transfer, the California Earthquake Authority (CEA) had grown the tower slightly to $7.912 billion as of the end of 2025, with the catastrophe bond market providing its largest share of the risk transfer limit ever, at 36% of the total. The California Earthquake Authority’s (CEA) need for risk transfer, which it procures from the…

American retirees stand to lose an average of $500 a month from their Social Security payments in the next seven years if nothing is done. For the past 16 years, the cost of the Social Security retirement program has exceeded the amount it receives from taxes collected, forcing it to dip into its trust fund reserves to cover the shortfall.It has been widely reported that by 2032, those reserves will be depleted, and if there is no intervention, seniors will have to learn to live with far less than before. How much more is the focus of the Committee for a Responsible…

Artie Beaty/ZDNETFollow ZDNET: Add us as a preferred source on Google.ZDNET’s key takeawaysSeveral mobile games are compatible with Android Auto.The games all have simple touch-screen controls.These are slow-paced, short-burst games. If you spend downtime in your car waiting for school pickup or during a lunch break, there’s a good chance you pass the time with mobile games. Here’s what you probably didn’t know: You could be playing some of those games on your car’s screen instead. A handful of popular mobile games are compatible with Android Auto, meaning you can play them in your car.  Also: 4 Android Auto developer settings…

(By Oil & Gas 360) – The global oil market remains focused on the immediate disruption caused by the Iran conflict, vessels trapped inside the Strait of Hormuz, reduced exports, tightening inventories, and volatile prices. Yet some of the industry’s largest players are increasingly warning that the bigger challenge may not be the current supply shock, but what happens after it. The emerging concern is that markets are underestimating the scale of demand that could be unleashed once the conflict eventually subsides. Today, much of the attention remains centered on the Strait of Hormuz, where shipping disruptions continue to strain global…

South Florida’s luxury real estate market thrived in 2025, posting the second-highest number of $10 million-plus home sales in the region’s history.However, mounting pressures—including underwater mortgages, foreclosures, and persistent unemployment concerns—have placed several Florida housing markets among those most vulnerable to future price declines.Of the 50 highest-risk markets, 12 were in Florida, nine in California, and five each in Illinois and New Jersey, according to the first-quarter housing risk report from real estate analytics firm ATTOM.The riskiest housing market in the nation is Florida’s Charlotte County, which includes Punta Gorda, the report found. Risk was determined by a combination of affordability relative to local incomes, the proportion…

More sellers are delisting in today’s buyer’s market as their homes sit on the market longer than they’d like and/or they’re unable to fetch the price they want.  Some sellers who delisted their homes in the last year are relisting them: 2.5% of homes are relistings that were previously pulled off the market, the highest share since 2020.  Delistings are most common in strong buyer’s markets like Atlanta and Los Angeles.  Relistings are most prevalent in the Bay Area, where many sellers are trying to take advantage of the hot local market.  Redfin Early Access, which allows homeowners to test…

In a quick-commerce market obsessed with speed, Indian startup FirstClub has convinced investors that quality may be a fresh opportunity, helping to double its valuation just nine months after its last funding round. The Bengaluru-based startup has raised $55 million in a Series B round co-led by Peak XV Partners and Sofina, valuing the company at $255 million after the investment. That’s up from $120 million when it last raised capital in September 2025. Existing investors Accel, RTP Global, and Paramark Ventures also participated. The latest financing brings FirstClub’s total funding to $86 million. As grocery shopping increasingly moves online,…