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The Federal Reserve announced a long-awaited rate cut on Wednesday.The move could bring some consumer rates down, which may be good news for borrowers hoping to refinance into lower-cost loans.”While the broader impact of a rate reduction on consumers’ financial health remains to be fully seen, it could offer some relief from the persistent budgetary pressures driven by inflation,” said Michele Raneri, vice president and head of U.S. research and consulting at TransUnion.But that relief may take a while to arrive.Borrowing costs tend to rise quickly when the Fed raises its benchmark interest rate — but fall slowly when it cuts. And…

PARIS: Virgil van Dijk scored a dramatic late winner to grab Liverpool a 3-2 Champions Lea­g­ue victory over Atletico Madrid, while Paris St-Germain kicked off their title defence by thrashing Atalanta on Wednesday. Elsewhere, Harry Kane scored twice as Bayern Munich downed Club World Cup winners Chelsea 3-1 as Pafos and Bodo/Glimt marked their Champions League debuts with hard-earned draws. Liverpool, with club-record signing Alexander Isak on debut, raced into a two-goal lead inside the first six minutes as Atletico struggled to get out of their own half on Merseyside. A Mohamed Salah free-kick flew in off Andy Robertson for…

TOKYO: Sydney McLaughlin-Levrone brought the house down on Thursday by coming within a whisker of breaking the four-decade-old women’s 400 metres world record while Botswana’s Busang Collen Kebinatshipi impressively won the men’s one-lap title. McLaughlin-Levrone ran through the rain to take gold and post the second fastest time in history of 47.78sec at the Tokyo National Stadium. It will surely only be a matter of time before the 400m hurdles world record holder breaks the mark of 47.60 set by East Germany’s Marita Koch in 1985, which has long had question marks hanging over it. McLaughlin-Levrone’s decision to switch from…

ALBANY, NY – MAY 21: Gov. Kathy Hochul holds a press conference at Common Roots Outpost to announce MIG, a national consultant group, will guide public engagement process for spending $200 million in downtown Albany on Wednesday, May 21, 2025, in Albany, N.Y. (Lori Van Buren/Albany Times Union via Getty Images)Albany Times Union/hearst Newspapers | Hearst Newspapers | Getty ImagesThere’s no need to apply or sign up for the payment. The refund checks will be mailed directly to eligible New Yorkers over several weeks.You may receive your check “sooner or later than your neighbors,” as the payments are not based…

Kate_sept2004 | E+ | Getty ImagesThe IRS and U.S. Department of the Treasury this week finalized rules for certain provisions from the Secure 2.0 Act of 2022, including catch-up contributions for 401(k) and other plans, which apply to workers age 50 and older.Starting in 2027, catch-up contributions generally must be after tax (also called Roth), rather than pretax, for workers who made more than $145,000 from their current employer during the previous year. But some plans could make the change in 2026 “using a reasonable, good faith interpretation of statutory provisions,” the IRS said.In the meantime, those investors can pick…

The D-Wave Systems Advantage quantum computer was the first such system with a processor architecture of over 5,000 qubits to go into operation outside North America.Getty ImagesInvestors are not always rational. They bet on futures yet to arrive. Sometimes they’re wrong and sometimes they’re simply early. Time and again valuations seem to take a backseat to narrative.Consider the dot-com era, when fledgling internet companies with little to no revenue achieved eye-watering valuations. Much of that optimism landed badly, yet over the long arc of time, the underlying thesis that the internet would reshape the world proved remarkably prescient. Here, the…

California Attorney General Rob Bonta speaks at a press conference in February 2024.CNBCA coalition of 22 attorneys general are opposing the Trump administration’s proposed regulation that could narrow eligibility for a popular student loan forgiveness program for government and non-profit workers.The attorneys general registered their criticism in a letter to Education Department Secretary McMahon on Wednesday.”Nationwide, millions of Americans took out student loans to become public servants with the promise of debt relief down the line, and now, the Trump Administration is attempting to hold this debt relief tool hostage from employers that engage in actions the President does not…

Pakistan captain Salman Agha said his team were ready to face India in the next round of the Asia Cup on Sunday after last week’s group-stage match between the arch-rivals ended in acrimony when the Indian side refused to shake hands. Pakistan beat United Arab Emirates in their final Group A game on Wednesday to advance to the Super Fours stage, where they will also play two teams from Group B in a round robin format. Bilateral cricket between India and Pakistan has been suspended since 2013, and they play each other only in multi-team tournaments. “We are ready, we…

After a day which saw cricket take the backseat and politics deliver the drama, Pakistan advanced in a tournament they had been looking to boycott hours earlier. The United Arab Emirates became the casualty as Salman Ali Agha’s men knocked the hosts out of the men’s Asia Cup in the final Group ‘A’ match on Wednesday to book a spot in the Super Four stage. And surprise, surprise; they have been drawn against archrivals India for Sunday’s Super Four opener, which is expected to be a heated affair after the handshake controversy and Indian captain Suryakumar Yadav’s post-match comments left…

WASHINGTON, DC: The Federal Reserve logo is seen on the William McChesney Martin Jr. Building on September 16, 2025 in Washington, DC. The Federal Open Market Committee (FOMC), the policy-making arm of the Federal Reserve, started its two-day meeting Tuesday and released its interest rate decision and policy statement today. (Photo by Kevin Dietsch/Getty Images)Getty ImagesWith Wednesday’s announcement, the Federal Reserve has embarked upon a series of interest rate cuts that should continue through the balance of this year and into the third quarter of 2026—at least according to predictions from the financial markets. This journey kicked off on Wednesday,…