>>Kashkari: Bank Stress Brings U.S. Closer To Recession
(Minneapolis, MN) -- A top Federal Reserve official says recent stress in the banking sector is bringing the U.S. closer to recession. Appearing on CBS' Face the Nation, Minneapolis Federal Reserve President Neil Kashkari noted the trend, but said it's unclear if that stress is leading to what he described as "a widespread credit crunch." He explained that would slow down the economy. Still, Kashkari maintained the U.S. banking system remains fundamentally sound. His comments come after the collapse of the Silicon Valley Bank and New York-based Signature Bank.
>>Tax Expert Highlights Changes For Filing This Year
(Undated) -- Time is running out to file your taxes this year, and there are some changes to be aware of. Mark Steber [[ STEEB-urr ]], a tax expert with Jackson Hewitt, says tax payers need to pay attention. Pandemic-era tax breaks like an expanded child tax credit and earned income credit expired last year. Steber says that could mean a lower refund than before - or refund shock come tax time.
>>FTC Eyes Easier Cancelations For Free Trials, Subscriptions
(Washington, DC) -- The Federal Trade Commission is proposing new regulations to make it easier for consumers to cancel free trials and subscriptions. The FTC said on Thursday that its click-to-cancel proposal would require sellers to make canceling an enrollment more straightforward. The agency said the proposal would help consumers with what it called "seemingly never-ending struggles" in ending subscriptions. It would impose penalties on companies that use so-called "tricks and traps" to gain subscribers.
>>Ford Losing Money On EVs, But Has Plans For Profitability
(Dearborn, MI) -- Officials with Ford Motor Company say they've lost approximately four-billion dollars in their electrical vehicle business. The division known as Ford Model E also lost money in the previous year, but the company is outlining a plan to make EV's profitable. Market analysts say electric vehicle production will continue to be costly, noting that it took Tesla more than a decade to become profitable. Ford officials plan to detail their profitability plan to investors in May. Ford says their gas and hybrid vehicles are expected to reach profits of nine to eleven-billion dollars this year.