>>More Americans Dip Into 401(K) Accounts Over Financial Stress
(Minneapolis, MN) -- More Americans are dipping into their 401(k) accounts because of financial distress. That's according to Bank of America data. The number of those who did so during the second quarter spiked from the same time last year by 36-percent. Most cite inflation as the main reason. Bank of America's data also shows overall employee contributions remained consistent over the first half of the year.
>>Two Groups Sue Biden Administration Over New Student Loan Forgiveness Plan
(Washington, DC) -- Two groups are suing the Biden administration over its latest plan to cancel student loan debt. The groups argue the White House doesn't have the authority to forgive the 39-billion-dollars its promising. The lawsuit says after the Supreme court struck down its first try to cancel 400-billion, Biden is now trying to push this new plan through using new arguments. The Supreme Court earlier ruled Congress must approve any student loan forgiveness
>>More Than Half Of Gen Z Says Renting A Home Is A Better Option Than Buying
(Washington, DC) -- High home prices have more than half of Gen z saying renting is a better option for them than buying a home. Overall, 44-percent of renters surveyed by RealPage said renting is the way to go, citing affordability the most. RealPage asked two-thousand multi-family renters under 55 with income up to 200-thousand dollars. Nearly two-thirds replied that they're satisfied with their rental situation because it gives them more flexibility financially and freedom to move. Nearly three in four said renting is the reason they live in neighborhoods they would otherwise not be able to afford.
>>NJ Transit Officials: Potential Strike Will Not Interrupt Service
(Trenton, NJ) -- Officials with New Jersey Transit are reassuring travelers that the trains will keep rolling even if engineers go on strike. The locomotive engineers are voting this month on whether to go on strike because they've received no pay raises since 2019. New Jersey Transit and the locomotive engineers union have been in mediation with the National Mediation Board. NJ Transit President Kevin Corbett has said that a federal court order would prevent any strike -- though union officials deny this, calling such comments confusing disinformation.
>>Virgin Galactic Tourist Launch Thursday
(Truth or Consequences, NM) -- Virgin Galactic is set to launch its second commercial spaceflight on Thursday. The flight is scheduled to take off from the company's Spaceport America in New Mexico with passengers on the VSS Unity, carried to 50-thousand feet by another aircraft before decoupling and blasting off about 53 miles up. One passenger is an 80-year-old former Olympic canoeist who bought his ticket for a quarter-million-dollars. The two others will be the first mother-daughter duo to make the voyage to the edge of space after winning their seats in a Virgin Galactic competition aimed at sending "more diverse humans to space."
>>ESPN Launches Betting Platform
(New York, NY) -- ESPN is launching ESPN BET with PENN Entertainment. It'll be a branded sportsbook for U.S. fans. PENN Entertainment is rebranding its current sportsbook and relaunch this fall in the 16 states where it's legalized. The rebrand will cover its mobile app and website. An ESPN statement says it aims to give fans the ability to place bets "with less friction."
>>WeWork Says Its Future Is Uncertain
(New York, NY) -- WeWork says the future of the company is uncertain. The coworking company released its second-quarter earnings on Tuesday and said due to its losses, projected cash needs and member turnover, "substantial doubt exists" about its ability to stay in business. The company's management outlined a plan to improve WeWork's financial health, and said its ability to stay in business is "contingent upon successful execution" over the next year.
