>>Trading Week Winding Down
(New York, NY) -- The opening bell rings this morning after stocks closed higher Thursday as traders anticipate a rate cut by the Federal Reserve next week. At the closing bell, the Dow Jones Industrial Average gained 235 points to 41-096. The S&P 500 rose 41 points to 55-95. The Nasdaq gained 174 points to 17-569.
>>Trump Proposes No Taxation On Overtime Pay
(Undated) -- Donald Trump is proposing to end taxation on overtime pay. On Thursday, the former President spoke at a rally in Arizona where he promised to "end taxes on overtime" if re-elected. He didn't offer further details on how the plan would work but the proposal would require congressional action. In recent months Trump has also proposed ending taxes on tipped wages and Social Security benefits. Vice President Harris has the same sentiments, and has called for eliminating taxes on tipped work and an increase in the minimum wage.
>>Boeing Says It's Ready To Renegotiate After Workers Vote To Strike
(Seattle, WA) -- Boeing says it's ready to renegotiate after its workers voted to go on strike. Thousands of aircraft employees at the manufacturing plants in Seattle and Portland rejected the Boeing contract offer on Thursday and voted to walk out Friday at midnight Pacific time. Union leaders gave their approval to the contract, which was rejected by 95-percent of union members. In a statement, Boeing said "The message was clear" that the tentative agreement was not acceptable to the members, and they are "ready to get back to the table" to reach a new agreement.
>>United States Bans Navient From Servicing Federal Student Loans
(Washington, DC) -- The United States is banning Navient from servicing federal student loans. The company must also pay 120-million-dollars in fines. This agreement settles a Consumer Financial Protection Bureau lawsuit from 2017 that alleged the company processed borrowers' payments incorrectly and misled them. Navient was one of the largest federal student loan companies at the time contracted by the Department of Education.
>>JPMorgan, Bank Of America To Monitor Work Hours More Closely
(New York, NY) -- JPMorgan and Bank of America are imposing new measures to help keep junior bankers from working too many hours. JP Morgan is instituting a 80-hour weekly cap and Bank of American is going to start using a new timekeeping system to better monitor hours worked. The moves come after allegations that junior bankers have been pressured to falsify their working hours, making it seem like they worked fewer hours to avoid triggering reports to HR.
>>Consumer Spending Projected To Be Down This Holiday Season
(New York, NY) -- Consumer spending for the upcoming holiday season is expected to be down from last year. Deloitte is out with its first holiday forecast and projects that retail sales will increase by as much as three-point-three-percent, but that's down from a growth of four-percent in 2023. Even with the decrease, it works out to roughly one-point-six-trillion-dollars. With only 27 days between Thanksgiving and Christmas, retailers are expected to launch holiday deals even earlier this year.
>>NE Is #1 State In Financial Literacy
(Omaha, NE) -- When it comes to finances Nebraska is the most literate state in the country. Online site Credit Secrets analyzed nine metrics including education, economic habits, average credit scores and financial stability. The average credit score in Nebraska is 731. The state earned high marks for creating a law designed to improve the personal financial skills of students. A personal finance literacy course worth a half-credit is required for high school graduation in the Cornhusker state.
