MoneyWatch

Presidents Day is celebrated in the U.S. on the third Monday of February, a day set aside to commemorate the birthdays of both President George Washington and President Abraham Lincoln. Over the years, the federal holiday has shifted into a commercial event, with many retailers offering sales on Presidents Day to tempt shoppers to open their wallets after the Christmas …

The Biden administration said Monday the government is providing $1.5 billion to the computer chip company GlobalFoundries to expand its domestic production in New York and Vermont. The announcement is the third award of direct financial support for a semiconductor company under the 2022 CHIPS and Science Act.The law enables the government to invest more than $52 billion to revitalize …

Another groundbreaking generative artificial intelligence tool from the company behind ChatGPT unveiled Thursday is expected to accelerate the proliferation of deepfake videos and have implications for virtually every industry. Sora, an AI application that takes written prompts and turns them into original videos, is already so powerful that one AI expert says it has him “terrified.” “Generative AI tools are …

When it comes to credit cards and the banks that issue them, bigger is most definitely not better — at least for customers. That’s because small banks and credit unions typically offer far better credit card terms and interest rates than the largest issuers, the Consumer Financial Protection Bureau said in a new report. In fact, the 25 largest card …

A little-heard-of pesticide linked to infertility in animals is showing up in the overwhelming majority of samples of oat-based foods sold in the United States, including popular cereal brands Quaker Oats and Cheerios. The chemical, chlormequat, was detected in 77 of 96 urine samples taken from 2017 and 2023, with levels increasing in the most recent years, a new study …

Gold has been used as an investmentand a form of currency for hundreds of years — and it offers a number of other unique benefits, too. So, it’s hardly surprising that many investors choose toadd gold to their investment portfolios. However, it’s typically best to purchase assets when prices are low and sell them when prices are high. And, it …

When it comes to preparing for retirement, it makes sense to focus on the basics, like maxing out your contributions to your 401(k) or ensuring that your savings are on track with your milestones. But what does not always come to mind is the need to diversify what you’re holding in your retirement portfolio — and overlooking that crucial element …

There’s no question that inflation has had a big impact on many people’s finances over the last few years. Higher inflation means your money can’t stretch as far due to higher prices at the pump, in the grocery store and just about anywhere else you shop. And, when you add in the other economic issues, like elevated borrowing costs, today’s …

Homebuyers waiting for mortgage rates to be reduced may have to wait a few more months. That seemed to be the message this week after the latest inflation reportfrom the Bureau of Labor Statistics showed inflation higher in January than expected. Although that 3.1% rate was lower than December’s 3.4%, it was still more than a full percentage point above …

Tesla’s Cybertruck hasn’t been on the road for long, but the stainless steel vehicles are already showing signs of rust, some owners are complaining. The sport utility vehicles, which start at $57,390 and cost up to $96,390, were first delivered to customers in December. Just two months later, buyers are posting images on social media showing orange rust spots appearing …