Mary Barra, CEO, GM at the NYSE, November 17, 2022. Source: NYSE DETROIT – General Motors is cutting hundreds of salaried positions as it follows other major companies, including competitors, in downsizing headcounts to preserve cash and boost profits. The cuts affect about 500 positions, according to a person familiar …

A Jan. 2, 2023 protest in favor of federal student loan relief outside the U.S. Supreme Court in Washington, D.C. Larry French | Getty Images Entertainment | Getty Images A shifting financial burden These days, tuition accounts for about half of public college revenue, while state and local governments provide …

Maskot | Maskot | Getty Images The income and wealth gaps between people of color and white households are wide, but state-run retirement programs are attempting to help workers find parity. As many as 67% of private-industry workers had access to retirement plans in 2020, according to the U.S. Bureau …

Shoppers crowd a supermarket to buy food in Chicago, Illinois, November 22, 2022. Jim Vondruska | Reuters Growing up in Florida, I saw my share of hurricanes. The approach of those storms seems an appropriate analogy to the U.S. economic outlook today. Storm tracks were highly uncertain, the result of …

Jtsorrell | Istock | Getty Images Bitcoin and ether are on pace for a modest February win, even after suffering a big drop earlier in the month. Bitcoin is set to post a roughly 1% gain for the month, according to Coin Metrics. In January bitcoin posted a 38% rise …

Black Americans represent less than 5% of residential real estate developers, largely because they can’t get equal access to capital, according to a recent report by the Urban Land Institute. Institutional capital – real estate investment trusts and private equity in particular – are the dominant players. Black developers often …

Sam Bankman-Fried, co-founder of FTX Cryptocurrency Derivatives Exchange, arrives at court in New York, US, on Thursday, Feb. 16, 2023. Yuki Iwamura | Bloomberg | Getty Images FTX ex-engineering head Nishad Singh pleaded guilty to criminal charges in New York on Tuesday, becoming the latest member of Sam Bankman-Fried’s former …

Despite higher prices, consumers are still spending, although not as much as they were a year ago, which is giving their budgets some breathing room. As of January, 60% of all U.S. adults, including 45% of high-income earners, were living paycheck to paycheck, according to a new LendingClub report. That’s down …

A Chinese state-run newspaper issued a warning to Tesla CEO Elon Musk after he shared reporting on the U.S. Department of Energy’s “low confidence” assessment that the global Covid pandemic originated in a Wuhan laboratory. CNBC’s Eunice Yoon reported Tuesday morning on the warning from the social media pages of …

Morsa Images | E+ | Getty Images If you’re on track to max out your 401(k) plan for 2023 and want to save more, your plan may have another option: after-tax contributions. For 2023, you can defer up to $22,500 into your 401(k), and savers age 50 and older can …