Author: Money Mechanics

(BOE Report)– The Trump administration’s plans to cancel nearly $8 billion in Energy Department grants are illegal because contracts had already been signed and will cause consumer energy prices to skyrocket, the top Democrat on the U.S. Senate energy committee said. Earlier this month, the Energy Department canceled $7.56 billion in funding for clean energy projects that it claimed would not provide sufficient returns to taxpayers. “These are projects that would have added energy to the grid and added flexibility,” Senator Martin Heinrich of New Mexico said. “The administration is constraining the energy that we can put on the grid,…

Key Takeaways Apple just announced several new products, including laptops and iPads, based on a new chip. That could help fire up buying during the holiday season. But investors may be looking for more signals from the company that they should start buying into the company’s stock again. People counting how many devices Apple is likely to sell this year are likely focused on the latest iPhones. But the company has plenty of other new devices to sell you—and investors may be looking past the latest unboxings. Apple (AAPL) this week announced its latest stuff: an updated Vision Pro headset,…

Key Takeaways American Express CDs are convenient if you already have an account there—but that ease can cost you since other institutions pay more. Smaller banks and credit unions offer higher CD rates than Amex, and they’re just as safe thanks to the same federal deposit insurance. It’s smart to act soon so you can lock in one of today’s best CD rates before the Fed’s next cut pushes yields lower. The full article continues below these offers from our partners. What American Express CDs Pay vs. Today’s Top Rates If you have an American Express bank or credit card…

Key Takeaways President Trump said he would lower the prices of popular weight-loss drugs, pressuring shares of drugmakers Novo Nordisk and Eli Lilly Friday.Centers for Medicare & Medicaid Services head Dr. Mehmet Oz said price negotiations have not finished yet. Novo Nordisk (NVO) and Eli Lilly (LLY) shares slumped in early trading Friday after President Trump promised to lower the prices of popular weight-loss drugs, such as Novo Nordisk’s Ozempic and Eli Lilly’s Zepbound. In comments to reporters during a White House event Thursday, Trump said prices could drop to $150 a month from $1,300. When asked which treatment he…

AI models and the data centers filled with chips to power them require an enormous amount of power. And the industry is scrambling to keep pace. After a decade of largely flat electricity needs, somewhere around 50 gigawatts of new power capacity — or enough to run roughly 40 million homes — will be required in the US to sustain the AI boom, according to Goldman Sachs. But should some of the marquee deals Big Tech giants are signing not materialize, utility companies and their customers could be stuck footing the bill. “Many of the [grid connection requests] appear to…

Are MLS policies built for the ChatGPT era? Zillow‘s integration with ChatGPT has ignited a debate over MLS compliance, with industry leaders examining the implications for data privacy and policy. While some view it as a technological advancement, others question its adherence to existing rules. Longbridge highlights wholesale reverse tech at NRMLA meeting Longbridge Financial discussed its newest technology tools and lending products at the National Association of Reverse Mortgage Lenders‘ Annual Meeting to support business partners and senior homeowners. Highlights include the AI-powered Bridget underwriting assistant and the Equity Engine tool for mortgage comparisons.  AI in title and escrow…

Meta-owned chat app WhatsApp changed its business API policy this week to ban general-purpose chatbots from its platform. The move will likely affect WhatsApp-based assistants of companies like OpenAI, Perplexity, Khosla Ventures-backed Luzia, and General Catalyst-backed Poke. The company has added a new section to address “AI providers” in its business API terms, focusing on general-purpose chatbots. The terms, which will go into effect on January 15, 2026, say that Meta won’t allow AI model providers to distribute their AI assistants on WhatsApp. Providers and developers of artificial intelligence or machine learning technologies, including but not limited to large language…

(Investing.com)– Oil prices edged lower on Friday, heading for a weekly loss of nearly 3% after the IEA forecast a growing glut and U.S. President Donald Trump and Russian President Vladimir Putin agreed to meet again to discuss Ukraine.  were down 9 cents, or 0.15%, at $60.97 a barrel at 1311 GMT, while  were 4 cents lower, down 0.07%, at $57.42. Trump and Putin agreed on Thursday to another summit on the war in Ukraine, to be held in the next two weeks in Hungary. The surprise development came as Ukrainian President Volodymyr Zelenskiy was headed to the White House on…

Key Takeaways Attending college a half century ago was expensive, but it was affordable compared to the cost of tuition in 2024-2025. Between the 1974-1975 and 2024-2025 school years, the cost of tuition at public colleges rose by over 355%. Economic conditions, rising operating costs, higher fees, and increased housing costs are pushing the cost of college even higher. Many are questioning whether a college degree is worth the price. Others are attending college but delaying other milestones, like getting married and buying a house. With the cost of the average four-year public college exceeding tens of thousands of dollars…

Key Takeaways For those keen on retiring in the Midwest, cities in South Dakota, Ohio, Missouri, Iowa, Indiana, and Michigan are included in our list of top picks. The biggest draw of retiring in the Midwest is definitely affordability; it’s possible to get a spacious three-bedroom house for what you’d pay for a tiny apartment in a coastal city. Daily expenses, from groceries to utilities, typically cost less, too.  This isn’t just about saving money though; it’s about having the freedom to actually enjoy retirement.  The Midwest offers a pretty neat retirement package when it comes to stretching your dollars.…