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- Union plans rail strike action over three weekends
RMT says it has been in dispute with the rail operator since April, following the rollout of the 810 fleet. [TheTopNews] Read More.36 mins ago - Burnham tells cabinet to tackle living costs at first meetingThe new prime minister chaired his first cabinet after announcing a cut to VAT on household electricity. [TheTopNews] Read More.44 mins ago
- Jamie Dimon says he wouldn’t buy stocks or Treasurys at current prices
JPMorgan Chase CEO Jamie Dimon said in an interview on Monday that he wouldn't buy stocks or long-term Treasury bonds at their current prices as he thinks investors aren't accounting fully for risks that could cause turmoil in equity and debt markets.Dimon said in an interview with CNBC that he thinks geopolitical and fiscal risks are "probably bigger than other people think" amid the ongoing conflicts in Ukraine and the Middle East, as well as looming tensions between the U.S. and China.He also said that growing budget deficits by governments around the world pose a fiscal risk during a period of rising defense spending, which could lead to interest rates on government bonds remaining higher.Dimon said that he wouldn't buy long-term Treasurys given the current conditions of the bond market, saying that he thinks interest rates on U.S. bonds will likely remain elevated even if inflation subsides.DIMON URGES CALM OVER FEAR ABOUT AI'S IMPACT ON JOBS: 'STOP BEING BREATHLESS OVER IT'The JPMorgan Chase CEO said that he believes "the 10-year bond should probably be at 4% to 4.5%" even if inflation returns to the Federal Reserve's long-run target of 2%, and said that he personally wouldn't buy long-term Treasurys and sees little upside for bond prices.The 10-year Treasury yield is currently about 4.6% and has remained above 4.2% since March after they had trended closer to 4% late last year.The most recent consumer price index (CPI) data showed inflation was up 3.5% from a year ago – well above the Fed's 2% target – despite declining month-over-month as gas prices declined as the energy market stabilized during a period of reduced hostilities between the U.S. and Iran.JAMIE DIMON SAYS HE UNDERSTANDS WHY PEOPLE HAVE GROWN 'ANTI-RICH'Stubbornly high inflation prompted the Fed to leave interest rates unchanged at the central bank's June meeting and Fed Chair Kevin Warsh has signaled that policymakers won't tolerate elevated inflation.That has caused the market's view of the probability of rate cuts to plunge, as the CME FedWatch tool suggests that the federal funds rate will either remain steady or rise before the end of this year.Dimon also struck a cautious note on the stock market in the interview, saying that he wouldn't invest in the broader market at the high valuations that can currently be found at many leading companies and would instead look at individual companies to find "a great investment."JPMORGAN NAMES 2 NEW… [TheTopNews] Read More.49 mins ago - Student loan default rates surge, 1 in 5 borrowers now in defaultStudent loan defaults are up to a record high, with 9.5 million borrowers in default, meaning they are more than 270 days behind on loan payments, according to data from the Office of Federal Student Aid. The near-10 million borrowers in default represent a record-high and nearly double the number in default at the nadir of a pandemic-prompted moratorium on student loan payments enacted by former President Joe Biden. In March 2025, months after a default-halting payment pause that Biden signed at the onset of the COVID-19 pandemic ended, the U.S. had 5.3 million borrowers in default. The Biden-era moratorium technically ended in January 2024, but the former president tacked on a 9-month extension that lasted until September 2024. With borrowers having 270 days to pay before entering default, June 2025 started a skyrocketing of defaults that saw the U.S. add over 4 million defaulted borrowers. TRUMP ADMINISTRATION AGREES TO SPEED UP STUDENT LOAN FORGIVENESS UNDER NEW COURT DEALThe 9.5 million defaulted borrowers represent more than 20% of all federal student loan borrowers. Of the $1.7 trillion of federally-backed student loans in the U.S., $233.3 billion is in default, according to the Office of Federal Student Aid data. Borrowers in default are vulnerable to a number of collection methods that include loans being sent to collections agencies or having their wages garnished directly from their paychecks. The Trump administration has thus far been unwilling to take such strong measures, with the Department of Education choosing to delay a plan to resume garnishment in January.TRUMP ADMIN STARTS SENDING NOTICES TO STUDENT LOAN BORROWERS IN DEFAULT AHEAD OF WAGE GARNISHMENTBut following a Republican Attorneys General-led effort, a federal appeals court terminated the SAVE Plan, a Biden-built program that lowered repayment rates for student loan borrowers and which 7.5 million Americans had signed up for.Though the challenge was led by red state Attorneys General, the Trump Department of Justice (DOJ) backed the efforts by encouraging federal courts to vacate the plan and reaching settlements with states that were suing, such as Missouri.The U.S.'s southern states have the highest concentrations of borrowers in default, with Mississippi leading the way at over 28% of its borrowers in default, according to an analysis from the Associated Press (AP). GET FOX BUSINESS ON THE GO BY CLICKING HEREWhile Mississippi leads all U.S. states, the territory of Puerto Rico has an even higher concentration of borrowers in default at over 30%.Fox Business contacted the White House… [TheTopNews] Read More.1 hour ago
- Three reasons why UK electricity prices are so highThe government has announced it will cut VAT on domestic electricity to zero but Britons still pay more for power than many other European nations. [TheTopNews] Read More.1 hour ago
- Apple and Nvidia vie for the position as the world’s biggest company: Whic...Nvidia has held the position as the world's biggest company since about a year ago, when it became the first to reach $4 trillion in market value. It soared past former leaders Apple and Microsoft. But in recent days, Apple, which hasn't climbed as much as its peers during the artificial intelligence (AI) boom, has been making a comeback.And on July 17, Apple even slipped ahead of Nvidia to become – at least for part of the trading session – the world's biggest company. By the end of the day, though, Nvidia returned to the lead with a value of $4.9 trillion. That's compared to $4.89 trillion for Apple.As these tech giants vie for the position as the world's biggest company, which is the better buy now? Let's find out.APPLE BRIEFLY OVERTAKES NVIDIA AS WORLD'S MOST VALUABLE COMPANY AMID AI INVESTMENT DOUBTSNvidia stock has soared more than 300% over the past three years amid excitement about its position in the AI market. The company is the No. 1 designer of graphic processing units (GPUs), the chips used to power AI development and use. This strength, along with Nvidia's full portfolio of related products and services, has generated double- and triple-digit earnings growth in recent years.For example, in the recent quarter, Nvidia's revenue surged 85% to more than $81 billion, and this was at a high level of profitability on sales, as we can see through the company's gross margin – that figure has exceeded 70% quarter after quarter.JENSEN HUANG SAYS NVIDIA'S NEW RTX SPARK CHIP WILL REINVENT THE PCNvidia focuses on innovation, pledging to update its GPUs on an annual basis, and this has helped it stay ahead. The company has also steadily expanded its reach in order to make it the key place to go for anything AI. In the latest quarter, Nvidia announced the upcoming release of its first stand-alone central processing unit (CPU), a move that opens the door to a $200 billion market.Investors have piled into Nvidia's stock in recent years, understanding that an investment in this company should put them on track to benefit from the AI revolution.Apple shares have advanced – but not as much as those of Nvidia. Over the past three years, Apple has climbed about 70%. The company has been slower to invest in and apply AI than many of its peers – for example, it only began rolling out AI… [TheTopNews] Read More.1 hour ago
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