New Drug Prices Spiked In 2023 As Biden Admin Seeks To Keep Costs Down
Pharmaceutical companies will set median starting retail prices for 2023 35% higher than a year earlier, Reuters reported on Friday, despite continued efforts by the Biden administration to curb rising costs. The median list price of drugs on the market, many for rare diseases, will be $300,000 in 2023, up from a median price of […]
Surging home insurance costs could force families to leave these 10 states
Diane Tomb, CEO of the American Land Title Association, shares her outlook on housing costs, commercial real estate concerns, and strategies for mortgage rates. Astronomical rises in mortgage rates and skyrocketing home prices over the past year have pushed key tenets of the American Dream out of reach for millions of families. Now, there is […]
HSBC pre-tax annual profit misses estimates on impairment costs; bank announces $2 billion further share buyback – CNBC
A customer uses an automated teller machine (ATM) during the night at an HSBC Holdings bank branch in Hong Kong, China, Saturday, February 16, 2019. Anthony Kwan | Bloomberg | Getty Images HSBC full year 2023 (pre-tax) profit That was lower than analysts expected on Wednesday, hit by impairment charges related to the London-based bank’s […]
Interest costs on US national debt set to exceed defense spending this year
Economist Peter Morisi breaks down what the national debt is, why it has ballooned to more than $34 trillion, and what it means for Americans. The sharp rise in interest rates over the past year may cause some collateral damage to the U.S. government’s finances. Because when interest rates rise, federal borrowing costs Debt will […]
Florida home prices fall over surging insurance costs
The insurance crisis hitting the Sunshine State has caused a surge in excess inventory and sent home prices plummeting along Florida’s southwest coast. Real estate agents said rising home insurance prices are deterring would-be snowbirds from buying property in the popular corridor between Sarasota and Naples. Prospective buyers are spooked as insurance premiums have risen […]
Mortgage rates climb again as high housing costs persist
Conference Board Chief Economist Dana Peterson says in Making Money that the LEI is great for the commodity economy. Mortgage rates rose again this week as housing inflation continues to rise, adding further illumination for weary would-be buyers and sellers. Freddie Mac’s latest primary mortgage market study, released Thursday, found that the average benchmark interest […]
Surging auto insurance costs are fueling higher inflation
Former Assistant Secretary of the Treasury Monica Crowley talks about the strain inflation is having on the middle and lower classes on “The Bottom Line.” Rising auto insurance premiums are fueling high inflation and continuing to put financial pressure on millions of households across the country. Consumer prices rose 0.3% Labor was up 3.1% in […]
Seized Russian yacht faces sale over $600K monthly costs covered by taxpayers
The US government asked a judge to allow the sale, citing the fact that maintaining a Russian superyacht worth $300 million that was seized in 2022 is costing taxpayers $600,000 a month. . The hefty monthly fee includes $360,000 in payments to the 348-foot ship’s crew, plus $75,000 in fuel costs, waste removal and food […]
GINN: Healthcare Costs Are Straining Federal And Household Budgets. Here’s How Biden Can Rein Them In
Medical costs continue to rise, and economic constraints are becoming even more severe. household and government safe. As the federal government struggles to rein in spending amid mounting debt, families are forced to make difficult choices between paying essential medical bills and meeting basic needs. These rising costs of health care must be addressed through […]
Hershey announces job cuts after high cocoa costs hurt candy sales
Hershey announced layoffs Thursday, reporting a hit to its quarterly profit as soaring cocoa prices and inflation-weary shoppers refrained from buying the company’s expensive chocolate and candy. The Pennsylvania-based company announced it will cut 5% of its workforce, resulting in up to $60 million in severance pay. It was not immediately clear how many jobs […]