General World News

The IRS’s child tax credit portal ‘looks like crap and it’s not really usable’ for low-income Americans trying to get $300 monthly federal payments

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Summary List Placement The first advance payments of the bulked-up child tax credit are poised to go out to millions of American families in just over two weeks on July 15 — a key part of President Joe Biden’s $1.9 trillion stimulus law that took effect in March. But Democratic-led efforts to reach the poorest […]

General World News

If you’re too busy to read all the books on your list, Blinkist gives you short summaries you can read in 15 minutes — here’s how it works

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  Summary List Placement Realistically, you probably won’t get to reading all of the books and podcasts on your list right now — even the ones you know will likely improve your life by enriching your career, relationships, finances, mental health, and so on. But you don’t need to dedicate hours to a single book […]

General World News

Both Biden and Republicans are saying their $1 trillion infrastructure plan is paid for – an expert says it’s more like ‘pixie dust’

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Summary List Placement President Joe Biden reached an agreement last week with a group of bipartisan senators on a $1 trillion infrastructure plan, and they claimed it was paid for. But details of the funding proposals are murky — so much so that experts are calling it completely unrealistic. Howard Gleckman, a senior fellow at […]

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Meet the Mars family, heirs to the Snickers and M&M’s candy empire, who spent years avoiding the limelight and are America’s third-wealthiest family ‘dynasty’

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Summary List Placement The Mars family sits atop a delicious empire. They’re the heirs to the candy throne that is Mars Inc., maker of Snickers, Mars Bars, Milky Way, Twix, M&M’s, and more — not to mention a wider portfolio that includes PetCare products, drinks, and gum. The century-old company has helped the Mars family […]

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Secretary Pete says infrastructure and reconciliation bills are ‘linked in people’s lives’ but not necessarily linked for passage

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Summary List Placement President Joe Biden reached an agreement last week with a bipartisan group of senators on a near $1 trillion infrastructure plan, a deal that cut over half of the president’s initial proposal on “hard infrastructure” like roads and bridges, not to mention care-economy measures from his American Families Plan. Biden said at […]

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House prices rose in April at the fastest rate on record

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Summary List Placement Another month, another acceleration in US home inflation. Home prices throughout the US surged 14.6% from year-ago levels, according to the S&P CoreLogic Case-Shiller home price index. The reading marks a pick-up from the 13.3% rate seen in March and the fastest pace of price growth since data collection began in 1987. […]

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Top Democrats unveil measure to give kids savings accounts where up to $9,000 could go toward college or starting a business

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Summary List Placement A trio of Senate Democrats unveiled a plan on Monday to provide up to $9,000 to most American children through a savings account in just the latest Democratic effort to give cash to lower-income families. The measure — known as the Young American Savers Act — would provide federal assistance to children […]

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A Subway ran out of roast beef, a Chipotle ran out of carnitas, and a Wendy’s was low on lettuce, as fast-food chains grapple with supply shortages for key ingredients

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Summary List Placement Restaurants and retailers around the US are grappling with a supply-chain crisis for some of their key ingredients.  A recent Reuters report found that at least nine restaurants and fast-food chains, including Subway and Chipotle, were out of stock in some items at certain locations. A Wendy’s franchisee in the south told […]

General World News

Servicers’ forbearance share falls to 3.91% of portfolios

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Servicers’ forbearance portfolio volume fell two basis points last week to 3.91%, according to a survey from the Mortgage Bankers Association. The MBA estimates two million homeowners are still in some form of a forbearance plan. Broken down by investor type, the share of Fannie Mae and Freddie Mac loans in forbearance decreased 3 basis points to 2.02%. Ginnie […]

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Only about 2 out of 10 people are leaving unemployment for work. It should be at least 3 out of 10, former Obama economists say.

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Summary List Placement As the economy is beginning to recover from the pandemic, there’s a record number of job openings, but that’s not the big story, former Obama economists wrote in a paper released Monday. The big news is that so many of the unemployed are exiting unemployment, but not for jobs. That isn’t normal.  […]

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Some red states saw their economies recover from pandemic lows, and it shows how complicated reopening is

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Summary List Placement Utah’s economy came roaring back and then some from pandemic devastation. Meanwhile states like New York, Hawaii, Massachusetts, and Nevada continue to lag far behind their February 2020 economies. That’s according to an index from the Federal Reserve Bank of Philadelphia, which tracks improvements and declines across four major economic measures in […]

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Biles Leads Band of Olympic Newcomers to Tokyo

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Asked to sum up her friendship with training partner and four-time Olympic gold medalist Simone Biles, Jordan Chiles doesn’t mince words: “She’s my ride-or-die.”  With the Olympic trials wrapped up on Sunday, the 20-year-old is one of five Olympic newcomers set to compete for the highly decorated U.S. gymnastics team in Tokyo this summer, with […]

General World News

If you’re making minimum wage, inflation means your dollar is the weakest it’s been in more than a decade

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Summary List Placement For Americans earning the minimum wage, surging inflation is making their dollar the weakest it’s been in more than a decade. On the surface, the labor market seems to finally be benefitting low-income workers. Wage growth surged to the fastest pace since the 1980s through April and May. Businesses are increasingly using […]

General World News

One chart shows the 10 industries poised to pay you a higher salary soon, and the 10 that probably won’t, according to Morgan Stanley

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Summary List Placement Like many aspects of the US recovery, the labor shortage is uneven. Where some industries were able to quickly shift to telework and retain most employees through the pandemic, others are struggling to rehire. Job openings sit at a record-high 9.3 million, but hiring lagged economist forecasts for two months straight while […]

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The Education Dept. insists you repay all your student loans but isn’t collecting about $1 billion owed by colleges, report finds

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Summary List Placement Once the payment pause on student loans lifts in October, the Education Department will resume efforts to collect student debt from 43 million borrowers across the country. But according to a new report, collection of debt held by higher education institutions — and owed to taxpayers — doesn’t appear to get similar […]

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Hospitality workers are returning to their jobs in Northeast states, prompting big unemployment drops – and economists say the region’s high vaccine rate is driving it

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Summary List Placement Employment is rebounding in the Northeast — and economists say the region’s high vaccination rates are a major factor. As more people get their shots, economies in the Northeast, which has some of the highest vaccination rates in the country, are reopening, prompting both customers to flock to restaurants and other businesses […]

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Education Department Provides Nearly $4 Billion in Pandemic Relief Aid and Other Grants to Puerto Rico Department of Education as Secretary Cardona Visits the Commonwealth

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U.S. Secretary of Education Miguel Cardona today informed The Honorable Pedro Pierluisi, Governor of the Commonwealth of Puerto Rico and The Honorable Eliezer Ramos, Interim Secretary of Education, that the Puerto Rico Department of Education (PRDE) now has full access to all federal education pandemic relief funds earmarked for the Commonwealth and other education program […]

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Competing Events Mark LGBTQ+ Pride Day in New York

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For the second consecutive year, the lingering pandemic consigned New York’s annual Pride march Sunday to the virtual world, even as its alter-ego, the Queer Liberation March, took its edgier message through the streets of Manhattan. The NYC Pride march, the city’s marquee LGBTQ+ event now in its 51st year, became a made-for-TV production as […]

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Unemployment declining faster in states that are cutting off $300 enhanced federal benefits, according to WSJ

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Summary List Placement The number of Americans receiving unemployment benefits is declining at a faster rate in Missouri and 21 other US states that opted out of receiving enhanced federal payments this month, according to The Wall Street Journal. Under the $1.9 trillion COVID-19 relief package that President Joe Biden signed into law in March, […]

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Joe Manchin indicated he would cut a Democratic-only infrastructure plan to $2 trillion so it doesn’t grow the national debt

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Summary List Placement Sen. Joe Manchin said Sunday that he could support a $2 trillion Democratic-only infrastructure plan. It suggests Senate Democrats may have to significantly curtail their ambitions to earn Manchin’s vote. The influential senator pushed back on the $6 trillion price tag for a potential plan drafted by Sen. Bernie Sanders and Senate […]

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Colosseum’s Newly Restored Hypogeum Opens to Public

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A large, newly restored area of the Colosseum, which used to be the underground backstage of the ancient Roman amphitheater, is now accessible to the public for the first time. Visitors can use a newly constructed wooden walkway to admire the tunnels and chambers under the arena that were used by wild animals and human […]

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For Some US Muslims, Raw Talk on Suicide, Mental Health

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Dr. Rania Awaad was attending a virtual religion program this Ramadan when discussion turned to an unexpected question: Is it religiously acceptable to say a prayer for someone who died by suicide? Suicide is a complex and delicate topic that Awaad, as director of the Muslim Mental Health & Islamic Psychology Lab at Stanford University, […]

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San Diego’s mayor joins other lawmakers in pleading to end COVID restrictions at the US-Mexico border, which they say are hurting the local economy

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Summary List Placement A group of southern California lawmakers, including San Diego’s mayor, called for an end to pandemic restrictions along the border with Mexico as part of an effort to boost the local economy. “As the rate of COVID-19 cases continue to plummet, and other restrictions have been lifted, I see no reason to […]

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The market and the Federal Reserve are telling different stories about inflation — and there’s good reason to think investors have it right

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Summary List Placement Hawkish now, dovish later? The Federal Reserve and financial markets are pulling in different directions.  On the one hand, the Fed seems to have grown a bit more worried about the possibility of inflation. At last week’s meeting, Fed members moved forward their median estimate for the next interest rate hike and […]

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AOC blasts Republicans for wasting time and ‘negotiating in bad faith’ on bipartisan infrastructure deal

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Summary List Placement On Friday, Rep. Alexandria Ocasio-Cortez slammed Republicans for walking back on a bipartisan infrastructure deal just a day after President Joe Biden said “we have a deal.” On Twitter, Ocasio-Cortez argued the senators had wasted time and negotiated “in bad faith.” “Wow, who could have possibly predicted that Senate Republicans were wasting […]

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Elizabeth Warren said a student-loan CEO gave false information to Congress. A Republican senator agreed.

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Summary List Placement As chair of the Senate subcommittee on economic policy, Elizabeth Warren in April invited the CEOs of the country’s major student-loan servicers to testify on the impact of student debt on borrowers. She, and the subcommittee’s Republican ranking member, John Kennedy, say that one of them may have given false testimony. On […]

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How to use your résumé to get into a top MBA program — with 2 examples from students at Wharton and Columbia

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Summary List Placement An MBA résumé isn’t the same thing as a traditional résumé. While a traditional résumé should be targeted at a recruiter or employer, an MBA résumé is directed at an admissions committee. “The résumé is the applicant’s key piece of marketing material,” Natalie Grinblatt Epstein, currently a senior admissions consultant for Accepted […]