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CNN  —  Keeping cool could cost a lot more this summer — yet another financial squeeze for many inflation-weary consumers. Americans can expect to shell out a record $784, on average, to cool their homes from June through September, according to a new analysis by the National Energy Assistance Directors Association and the Center for Energy Poverty and Climate. That’s up 4.2% from the same period last year and 14% higher than 2020, when folks only paid an estimated $688, after accounting for inflation. The tab is projected to rise both because electricity prices are increasing faster than inflation and…

Milan2099 | E+ | Getty ImagesMany homeowners have seen their property taxes increase in recent years because of rising housing prices and local tax rates. But the property tax assessment isn’t always set in stone: filing an appeal may lower the cost for years.The median property tax bill in the U.S. in 2024 was $3,500, up 2.8% from $3,349 in 2023, according to an April report by Realtor.com. How much you pay varies widely depending on where you live, and some places have seen higher bills and bigger increases.As of 2023, the median property tax for homeowners in New York City…

The U.S. Capitol is seen on Capitol Hill in Washington, D.C., U.S., May 7, 2025. Nathan Howard | ReutersHouse Republicans’ “one, big, beautiful” tax bill includes a new temporary $4,000 deduction for older adults.The change, called a “bonus” in the legislation, is aimed at helping retirees keep more money in their pockets and provides an alternative to the idea of eliminating taxes on Social Security benefits, which President Donald Trump and other lawmakers have touted.The bill provides a “historic tax break” to seniors receiving Social Security, “fulfilling President Trump’s campaign promise to deliver much-needed tax relief to our seniors,” White…

LAHORE: The long-aw­a­ited elections of the Pak­istan Football Feder­ation have been delayed by a week and will now be held on May 27, the PFF Nor­malisation Committee ann­ounced in the early hours of Thursday morning. Initially scheduled to be held on May 20 in Lahore, the NC said the elections were delayed due to the recent cross-border skirmishes between Pakistan and India. “We wish to inform you that due to ongoing tensions between Pakistan and India the scheduling of the FIFA and Asian Foo­tball Confederation dele­g­ations have been impac­ted,” it said in a statement. “These unforeseen and unfortunate circumstan­ces have…

NEW DELHI: South African Lungi Ngidi has returned for the Indian Premier League’s final phase, but the seamer and several of his compatriots are expected to exit the rescheduled tournament early to prepare for next month’s World Test Championship final. The IPL will resume on Saturday after India and Pakistan agreed to a ceasefire following days of fighting between the nuclear-armed neighbours. The South Africa squad for the June 11-15 WTC final against Australia at Lord’s includes eight players who are playing in the lucrative IPL, the final for which has been moved from May 25 to June 3. South…

LAHORE: Former Bangladesh captain Shakib Al Hasan and Sri Lankan batter Bhanuka Rajapaksa have signed up for Lahore Qalandars for the remainder of the HBL Pakistan Super League (PSL) season, the franchise announced on Thursday. Meanwhile, Karachi Kings have secured the services of Scotland opener George Munsey. The tenth edition of the PSL is set to resume from Saturday — with Kings taking on Peshawar Zalmi at the Rawalpindi Cricket Stadium — after the league was postponed as a result of cross-border tensions between Pakistan and India, which started May 7 before culminating in a ceasefire three days later. The…

USA China economic trade war market conflict concept. Two opposing hand trucks and cardboard boxes … More with USA and China flags., 3d illustrationgetty Just when the U.S.-China trade conflict seamed at an impasse, the two parties agreed to a 90-day truce this past weekend that lowered duties on Chinese and U.S. goods to 30% and 10%, respectively, from 145% and 125%. The reciprocal tariff rates that ensued after President Donald Trump’s “Liberation Day” announcement on April 2 have been suspended, while the 20% duties imposed on China tied to fentanyl and the 10% universal tariffs are left in place.…

Jacob Wackerhausen | Istock | Getty ImagesHouse Republicans’ child tax credit planThe Tax Cuts and Jobs Act, or TCJA, of 2017, temporarily boosted the maximum child tax credit to $2,000 from $1,000, an increase that will expire after 2025 without action from Congress.If enacted, the House bill would make the $2,000 credit permanent and raise the cap to $2,500 from 2025 through 2028. After 2028, the credit’s highest value would revert to $2,000, and be indexed for inflation.However, the plan does “nothing for the 17 million children that are left out of the current $2,000 credit,” said Kris Cox, director…

CNN  —  While many economists are saying the risk of an imminent recession has diminished since China and the United States agreed to lower tariffs earlier this week, JPMorgan Chase’s CEO, Jamie Dimon, is still penciling one in. “I wouldn’t take it off the table at this point,” Dimon said in a Bloomberg TV interview on Thursday at an annual conference the bank hosts in Paris. After the trade breakthrough from weekend talks in Geneva between Trump administration officials and Chinese government officials, JPMorgan economists lowered the risk of the US economy entering a recession to below 50% from 60%…

CNN  —  In a sign that consumer demand may be fraying around the edges, spending at US retailers slowed sharply in April to 0.1% after a surge of 1.7% in March as shoppers rushed to beat President Donald Trump’s stiff tariffs. The April data was worse than the 0.2% monthly rise economists polled by FactSet predicted. Among the biggest monthly declines was motor vehicle and part sales, which declined to -0.1% in April from 9.4% in March. Consumer spending is the backbone of the economy, accounting for two-thirds of gross domestic product. The steep drop in retail sales could lead…