Author: admin

CNN  —  A long-held stake by a handful of hedge funds may finally yield returns under the Trump administration, but it risks sending shockwaves through America’s $12 trillion mortgage market. Last month, President Donald Trump said he had plans to take mortgage financing giants Fannie Mae and Freddie Mac public. Such a move would end 17 years of federal government conservatorship over the two companies, which have played a central role in America’s housing finance system by providing liquidity to the mortgage market. Some experts warn that severing Fannie and Freddie from government control could raise mortgage rates and restrict…

Carlos Alcaraz saved three championship points as he produced an astonishing fightback from two sets down to beat Jannik Sinner in a French Open final for the ages on Sunday. Reigning champion Alcaraz rallied from the brink of defeat to overcome world number one Sinner 4-6, 6-7 (4/7), 6-4, 7-6 (7/3), 7-6 (10/2) to clinch his fifth Grand Slam title after five hours and 29 minutes. The 22-year-old Spaniard is now unbeaten in five Grand Slam finals after snapping Sinner’s 20-match winning run at the majors. Alcaraz pulled off his first-ever comeback from two sets down to stun Sinner in…

Carol Yepes | Moment | Getty ImagesFor many students and their families, federal student aid is key for college access.And yet, the Trump administration’s budget proposal for fiscal year 2026 calls for significant cuts to higher education funding, including reducing the maximum federal Pell Grant award to $5,710 a year from $7,395, as well as scaling back the federal work-study program. The proposed cuts would help pay for the landmark tax and spending bill Republicans in the U.S. Congress hope to enact.Roughly 40% of undergraduate students rely on Pell Grants, a type of federal aid available to low-income families who demonstrate financial need…

WASHINGTON DC, UNITED STATES – MAY 30: United States President Donald Trump departs at the White House to U.S. Steel’s Irvin Works in West Mifflin, Pennsylvania in Washington D.C May 30, 2025. Celal Gunes | Anadolu | Getty ImagesAs the Senate weighs President Donald Trump’s multi-trillion-dollar spending package, a lesser-known provision tucked into the House-approved bill has pushback from Wall Street.The House measure, known as Section 899, would allow the U.S. to add a new tax of up to 20% on foreigners with U.S. investments, including multinational companies operating in the U.S.Some analysts call the provision a “revenge tax” due…

ROME: Gian Piero Gasperini was unveiled as new coach of Italian side AS Roma on Friday after nine hugely successful years at the helm of Atalanta. Gasperini, 67, joins Roma on a three-year-deal after turning Atalanta into one of Italy’s best teams, winning the Europa League last year. Departing coach Claudio Ranieri stepped down after Roma finished fifth in Serie A, but was on hand to welcome Gasperini, and stood beside the new man as Roma presented him. “Gasperini’s career is defined by its creative tactics, dedication to hard work, and exceptional player development,” Roma said on their website. “Both…

STUTTGART: Spain starlets Lamine Yamal and Nico Williams dazzled as La Roja beat France 5-4 in a thriller in Stuttgart on Thursday, to set up a Nations League final with Portugal. Yamal — who was named La Liga Best Under-23 player — bagged a brace while Williams scored and provided an assist as the two wingers cut France’s makeshift defence to ribbons. Mikel Merino and Pedri were also on the scoresheet for the Euro 2024 champions. Kylian Mbappe netted a second-half penalty, but Spain were 5-1 up and cruising, before Les Bleus suddenly woke up as their opponents took their…

With more Americans job hopping in the wake of the Great Resignation, the risk of “forgetting” a 401(k) plan with a previous employer has jumped, recent studies show. As of 2023, there were 29.2 million left-behind 401(k) accounts holding roughly $1.65 trillion in assets, up 20% from two years earlier, according to the latest data by Capitalize, a fintech firm.Nearly half of employees leave money in their old plans during work transitions, according to a 2024 report from Vanguard.However, that can come at a cost.More from Personal Finance:Average 401(k) balances drop 3% amid market swingsThe average 401(k) savings rate hit a…

Xavier Lorenzo | Moment | Getty ImagesGen Z seems to have a case of economic malaise.Nearly half (49%) of its adult members — the oldest of whom are in their late 20s — say planning for the future feels “pointless,” according to a recent Credit Karma poll.A freewheeling attitude toward summer spending has taken root among young adults who feel financial “despair” and “hopelessness,” said Courtney Alev, a consumer financial advocate at Credit Karma.They think, “What’s the point when it comes to saving for the future?” Alev said.That “YOLO mindset” among Generation Z — the cohort born from roughly 1997…

CHICAGO: Gretchen Walsh clocked a stunning 54.76sec to win the 100m butterfly at the US Swimming Championships on Thursday, coming up just shy of her own world record in a comfortable victory over Olympic champion Torri Huske. Walsh, who settled for silver behind Huske at the Paris Games last year, had lowered her own world record twice at the Fort Lauderdale Pro Swim last month, becoming the first woman to dip below 55 seconds with a world mark of 54.60sec in the finals there. She was well under world-record pace when she turned in 25.19sec, and even though she couldn’t…

SYDNEY: Filling the giant shoes of David Warner continues to be a headache for Australia 17 months after the bombastic Test opener retired, with Marnus Labuschagne shaping as the latest contender in the World Test Championship final against South Africa. Warner pulled stumps on the red-ball game in January last year after 112 Tests and 8,786 runs, long accompanied at the top of the order by Usman Khawaja. Khawaja will open again in the blockbuster clash at Lord’s starting on June 11, potentially with a fifth different partner since Warner called it quits. Steve Smith initially plugged the hole, but…