MoneyWatch

Sacramento, Calif. — State Farm will discontinue coverage for 72,000 houses and apartments in California starting this summer, the insurance giant said this week, nine months after announcing it wouldn’t issue new home policies in the state. The Illinois-based company, California’s largest insurer, cited soaring costs, the increasing risk of catastrophes like wildfires and outdated regulations as reasons it won’t …

Three antitrust lawsuits filed by food businesses in federal court in Minnesota this week accuse some of the largest U.S. sugar-producing companies of conspiring to fix prices. The lawsuits name United Sugars, which includes American Crystal Sugar and the Minn-Dak Farmers Cooperative; Domino Sugar; Cargill; other producers, and a commodity data company. The plaintiffs in the class-action lawsuits include Great …

The rate environment of recent years has not been favorable for borrowers but it has been a boost for savers. Thanks to decades-high inflation and a rapid rise in interest rates meant to tame it, savers have seen their returns increase exponentially. It’s not difficult to find a high-yield savings account over 5% right now while select savers can secure …

Former President Donald Trump will soon be at the helm of a publicly traded company that will trade under the ticker “DJT,” after his initials, and boast a potential valuation of more than $5 billion — a lofty amount for a business that’s losing money and has scant revenue. Trump’s next career move as head of a publicly traded company …

Your burger and fries could soon cost $12 in the morning and $20 just a few hours later — at the same restaurant. That’s because more eateries are experimenting with so-called dynamic pricing by lowering and raising menu prices based on demand. People who use ride sharing services like Uber or Lyft are accustomed to the companies boosting prices when …

If you own a home, you may have a significant amount ofhome equity. One common way to tap into it is by using a home equity line of credit (HELOC), which can be a smart option forseveral reasons. For starters, HELOCs typically have competitive interest rates because they’re backed by collateral: your home. And, as lines of credit, a HELOC …

Investing your money can be difficult or it can be easy. It depends on what you’re investing in — and when you’re doing the investing. You’ll want to invest in stocks and bonds, for example, at different times than you would alternative assets like gold and silver. But while the stock market has surged recently, gold and silver have increased …

Saving for retirement is one of the most important money moves you can make. After all, it can be tough to live off of Social Security payments alone. For example, the average Social Security retirement benefit for January 2024 is estimated to be $1,907, according to the Social Security Administration, which may not be enough to cover all your expenses …

Borrowers hoping for some quick relief were left disappointed this week after the Federal Reserve elected to keep interest rates paused. While the benchmark interest rate range will stay the same between 5.25% and 5.50% —a 23-year high— there were indications that rate cuts could come later this year and into 2025. Against this backdrop, borrowers should remain judicious about …

Former President Donald Trump could soon receive a windfall valued as much as $3.5 billion, with shareholders of a publicly traded funding partner on Friday approving a merger with his Trump Media & Technology Group. The approval occurred Friday morning, according to a livestream of the shareholder vote. Shares of Digital World Acquisition Corp., a so-called “blank check” company that …