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The November 20 bombshell indictment in New York accused the industrialist and multiple subordinates of deliberately misleading international investors as part of a multi-million-dollar bribery scheme. Addressing the allegations for the first time, the 62-year-old tycoon said his conglomerate was committed to "world-class regulatory compliance". "What I can tell you is that every attack makes us stronger and every obstacle becomes a stepping stone for a more resilient Adani Group," he said at an awards ceremony in the northern Indian city of Jaipur. Adani is suspected of having participated in a $250 million scheme to bribe Indian officials for lucrative solar energy supply contracts. The billionaire, however, said nobody from his company had been charged with any violation of corruption laws or "any conspiracy to obstruct justice". The US Justice Department said Adani, his nephew Sagar Adani, and one other official were charged "with conspiracies to commit securities and wire fraud and substantive securities fraud". Five others were charged "with conspiracy to violate the Foreign Corrupt Practices Act," the department said. On Thursday, Adani's company said it had suffered a loss of nearly $55 billion in market capitalisation across its 11 listed companies since the US indictment was filed. With a business empire spanning coal, airports, cement and media, Adani Group has weathered previous corporate fraud allegations, suffering a similar stock rout last year. The conglomerate saw $150 billion wiped from its market value in 2023 after a report by short-seller Hindenburg Research accused it of "brazen" corporate fraud. Adani is a close ally of Hindu nationalist Prime Minister Narendra Modi and was at one point the world's second-richest man, and critics have long accused him of improperly benefitting from their relationship. ash/aha
TikTok files legal challenge of federal government's shutdown orderJimmy Carter, 39th U.S. president, Nobel winner, dies at 100
NEW YORK (AP) — Top-ranked chess player Magnus Carlsen is headed back to the World Blitz Championship on Monday after its governing body agreed to loosen a dress code that got him fined and denied a late-round game in another tournament for refusing to change out of jeans . Lamenting the contretemps, International Chess Federation President Arkady Dvorkovich said in a statement Sunday that he'd let World Blitz Championship tournament officials consider allowing “appropriate jeans” with a jacket, and other “elegant minor deviations” from the dress code. He said Carlsen's stand — which culminated in his quitting the tournament Friday — highlighted a need for more discussion “to ensure that our rules and their application reflect the evolving nature of chess as a global and accessible sport.” Carlsen, meanwhile, said in a video posted Sunday on social media that he would play — and wear jeans — in the World Blitz Championship when it begins Monday. “I think the situation was badly mishandled on their side,” the 34-year-old Norwegian grandmaster said. But he added that he loves playing blitz — a fast-paced form of chess — and wanted fans to be able to watch, and that he was encouraged by his discussions with the federation after Friday's showdown. “I think we sort of all want the same thing,” he suggested in the video on his Take Take Take chess app’s YouTube channel. “We want the players to be comfortable, sure, but also relatively presentable.” The events began when Carlsen wore jeans and a sportcoat Friday to the Rapid World Championship, which is separate from but held in conjunction with the blitz event. The chess federation said Friday that longstanding rules prohibit jeans at those tournaments, and players are lodged nearby to make sartorial switch-ups easy if needed. An official fined Carlsen $200 and asked him to change pants, but he refused and wasn't paired for a ninth-round game, the federation said at the time. The organization noted that another grandmaster, Ian Nepomniachtchi, was fined earlier in the day for wearing sports shoes, changed and continued to play. Carlsen has said that he offered to wear something else the next day, but officials were unyielding. He said “it became a bit of a matter of principle,” so he quit the rapid and blitz championships. In the video posted Sunday, he questioned whether he had indeed broken a rule and said changing clothes would have needlessly interrupted his concentration between games. He called the punishment “unbelievably harsh.” “Of course, I could have changed. Obviously, I didn’t want to,” he said, and “I stand by that.”
Yankees Agree to Terms With Max Fried on $218 Million Contract: Reports
Thai institutional investors see the domestic and global economies on a promising recovery path next year, on the back of anticipated interest rate cuts, as they express growing interest in sustainable investment, a recent survey by the Association of Investment Management (AIMC) has found. AIMC chairwoman Chavinda Hanratanakool said fund managers have a positive view of the Thai economy in 2025, supported by their expectations that GDP will tend to grow continuously, and that the domestic policy interest rate may be adjusted down to 1.75% by the end of the year to stimulate the economy. However, fund managers have concerns about political instability, which may be a factor affecting confidence, she added. With regard to equity investments, they will focus on medium to large cap stocks that have environmental, social and governance (ESG) policies, which are expected to generate better returns than general stocks. Prominent industries include commerce, tourism-recreation, technology, and finance. In terms of domestic bond investment, the focus is on medium and long-term government bonds and private debt instruments. Real estate investment trusts (REITs) and infrastructure funds are recommended as alternative assets while gold would account for a small proportion in their portfolio. In terms of the global economic outlook, institutional investors believe that the global economy will recover gradually, with positive factors including GDP growth in major economies and a downward trend of interest rates. The US policy interest rate is expected to be adjusted down to 3.5-3.75% by the end of 2025. When it comes to the global investment portfolio, they would focus on large and medium-sized stocks in developed markets such as the US, Europe (the UK, Germany) and India. Prominent industries include technology, finance, communications, luxury goods and utilities. In terms of global debt instruments, institutional investors believe they should invest in medium-term debt instruments in developed markets such as the US and Europe. With regard to alternative assets, investment should focus on REITs and infrastructure funds, which still yield satisfactory returns. "The survey revealed that asset management firms are focusing on ESG investment, with plans to launch new funds such as an ESG mixed fund, which caters to investors seeking tax benefits, and an ESG Foreign Investment Fund or Feeder Fund, which invests abroad to expand opportunities in sustainability," said Mrs Chavinda. AIMC believes economic recovery and the increasing interest in sustainable investment would support investment to show better prospects in 2025, she added.• Fair Value Estimate: $210.00 (£167.20) • Morningstar Rating: 1 star • Economic Moat: Narrow • Morningstar Uncertainty Rating: Very High Tesla TSLA stock has made a sharp U-turn in 2024, rallying to record highs, with the company seen as benefiting from chief executive Elon Musk's new prominence in Washington. The stock began 2024 mired in a multi-year slump, as investors grew increasingly concerned about the company's ability to maintain a fast pace of growth. As recently as late May, Tesla was changing hands at around $182 per share, down some 55% from a November 2021 peak of $409.97. Sentiment became more positive thanks to a strong third quarter, notes Morningstar strategist Seth Goldstein. Following Election Day, the stock rocketed higher. On Nov. 5, Tesla closed at $251.44. Since then, it's risen more than 73%, hitting a new all-time high of $436.23 per share. "The election of Donald Trump has been viewed extremely positively for Tesla, as CEO Elon Musk will be an adviser to Trump. Musk could help shape policies, such as autonomous driving regulations, that could remove regulatory hurdles for Tesla's Robotaxi business," Goldstein says. Tesla's Strong Q3 Earnings Tesla's most recent results offered an improved picture from earlier in the year, when profit margins fell to multi-year lows and investors increasingly questioned its growth trajectory. Goldstein notes that in the third quarter, Tesla posted solid growth in deliveries and, critically, an expansion in profit margins within the automotive segment. "Management also guided to 20%-30% deliveries growth in 2025, which implies Tesla's deliveries will continue to see strong growth in the coming years," he says. Additionally, Tesla announced it plans to begin testing its full self-driving mode unsupervised in Texas and California in 2025. "This is a key step toward making Robotaxis a reality, which is driving enthusiasm for the stock," Goldstein says. Tesla's Growth Outlook Despite the optimism... Meicheng LuS&P/TSX composite down more than 100 points Tuesday, U.S. stock markets also lower
NEW YORK (AP) — Top-ranked chess player Magnus Carlsen is headed back to the World Blitz Championship on Monday after its governing body agreed to loosen a dress code that got him fined and denied a late-round game in another tournament for refusing to change out of jeans . Lamenting the contretemps, International Chess Federation President Arkady Dvorkovich said in a statement Sunday that he'd let World Blitz Championship tournament officials consider allowing “appropriate jeans” with a jacket, and other “elegant minor deviations” from the dress code. He said Carlsen's stand — which culminated in his quitting the tournament Friday — highlighted a need for more discussion “to ensure that our rules and their application reflect the evolving nature of chess as a global and accessible sport.” Carlsen, meanwhile, said in a video posted Sunday on social media that he would play — and wear jeans — in the World Blitz Championship when it begins Monday. “I think the situation was badly mishandled on their side,” the 34-year-old Norwegian grandmaster said. But he added that he loves playing blitz — a fast-paced form of chess — and wanted fans to be able to watch, and that he was encouraged by his discussions with the federation after Friday's showdown. “I think we sort of all want the same thing,” he suggested in the video on his Take Take Take chess app’s YouTube channel. “We want the players to be comfortable, sure, but also relatively presentable.” The events began when Carlsen wore jeans and a sportcoat Friday to the Rapid World Championship, which is separate from but held in conjunction with the blitz event. The chess federation said Friday that longstanding rules prohibit jeans at those tournaments, and players are lodged nearby to make sartorial switch-ups easy if needed. An official fined Carlsen $200 and asked him to change pants, but he refused and wasn't paired for a ninth-round game, the federation said at the time. The organization noted that another grandmaster, Ian Nepomniachtchi, was fined earlier in the day for wearing sports shoes, changed and continued to play. Carlsen has said that he offered to wear something else the next day, but officials were unyielding. He said “it became a bit of a matter of principle,” so he quit the rapid and blitz championships. In the video posted Sunday, he questioned whether he had indeed broken a rule and said changing clothes would have needlessly interrupted his concentration between games. He called the punishment “unbelievably harsh.” “Of course, I could have changed. Obviously, I didn’t want to,” he said, and “I stand by that.”Defiant Adani says committed to compliance after US indictment
Is Bank of America Stock a Buy Before Jan. 16?76ers' star Paul George sidelined the next 2 games with bone bruise in left kneeU.S. leaders from across the political spectrum began honoring former President Jimmy Carter just minutes after the Carter Center confirmed that the 39th president of the United States had died Sunday. The top Democrat and Republican in the Senate each released statements honoring Carter’s life and impact. “President Carter’s faith in the American people and his belief in the power of kindness and humility leave a strong legacy,” said Senate Majority Leader Chuck Schumer, D-N.Y. “He taught us that the strength of a leader lies not in rhetoric but in action, not in personal gain but in service to others.” Outgoing Senate Minority Leader Mitch McConnell, R-Ky., said that “Carter’s character and commitment, just like his crops, were fruits of all-American soil.” “After every season when life led him to lofty service far from home, he came back home again, determined to plow his unique experiences and influence into helping others; into building and teaching and volunteering; into further enriching the same rich soil that had made his own life possible,” McConnell said. "Like much of the Greatest Generation, President Carter will be remembered by what he built and left behind for us — a model of service late into life, a tireless devotion to family and philanthropy, and a more peaceful world to call home," said Sen. Mark Warner, D-Va., in a statement. Sen. Andy Kim, D-N.J., said in a post on X that Carter "gave us a pure and lasting example of a public servant." "I’m sending love to the Carter family today as we honor his life and untiring, humble mission to help others," he added. The condolences rolled in from both sides of the aisle, with Republicans also honoring Carter, a Democrat. Sen. Rick Scott, R-Fla., said that Carter "devoted his entire life to serving others." "Please join Ann & me in praying for the Carter family, their friends & all who worked alongside the former president," he said. Carter was widely recognized for his work on human rights and social justice following his presidency. He established the Carter Center, a nonprofit that was founded "on a fundamental commitment to human rights and the alleviation of human suffering," according to the group's website. Carter also worked with Habitat for Humanity, a nonprofit, to help build homes for people in need. "Even more historic than his time in the White House was Carter’s post-presidency, which he dedicated to serving his fellow man," said Sen. Mike Lee, R-Utah, in a post on X . "From providing housing for thousands of families to Sunday school for the children of his community, he will remain distinguished among America’s leaders for his great humanitarian accomplishments and deep commitment to his Christian faith."Several politicians also pointed to Carter’s faith when reacting to his death. Carter taught Sunday school in his hometown of Plains, Georgia, up until the pandemic. “We were bit by different political bug but hv much in common incl love of the Lord,” said Sen. Chuck Grassley, R-Iowa, in a typical short-hand post to X.
Jimmy Carter, the peanut farmer who tried to restore virtue to the White House after the Watergate scandal and Vietnam War, then rebounded from a landslide defeat to become a global advocate of human rights and democracy, has died. He was 100 years old . The Carter Center said the 39th president died Sunday, more than a year after entering hospice care , at his home in Plains, Georgia, where he and his wife, Rosalynn, who died in November 2023, lived most of their lives. A moderate Democrat, Carter ran for president in 1976 as a little-known Georgia governor with a broad grin, effusive Baptist faith and technocratic plans for efficient government. His promise to never deceive the American people resonated after Richard Nixon’s disgrace and U.S. defeat in southeast Asia. “If I ever lie to you, if I ever make a misleading statement, don’t vote for me. I would not deserve to be your president,” Carter said. Carter’s victory over Republican Gerald Ford, whose fortunes fell after pardoning Nixon, came amid Cold War pressures, turbulent oil markets and social upheaval over race, women’s rights and America’s role in the world. His achievements included brokering Mideast peace by keeping Egyptian President Anwar Sadat and Israeli Prime Minister Menachem Begin at Camp David for 13 days in 1978. But his coalition splintered under double-digit inflation and the 444-day hostage crisis in Iran. His negotiations ultimately brought all the hostages home alive, but in a final insult, Iran didn’t release them until the inauguration of Ronald Reagan, who had trounced him in the 1980 election. Humbled and back home in Georgia, Carter said his faith demanded that he keep doing whatever he could, for as long as he could, to try to make a difference. He and Rosalynn co-founded The Carter Center in 1982 and spent the next 40 years traveling the world as peacemakers, human rights advocates and champions of democracy and public health. Our founder, former U.S. President Jimmy Carter, passed away this afternoon in Plains, Georgia. pic.twitter.com/aqYmcE9tXi Awarded the Nobel Peace Prize in 2002, Carter helped ease nuclear tensions in North and South Korea, avert a U.S. invasion of Haiti and negotiate cease-fires in Bosnia and Sudan. By 2022, the center had monitored at least 113 elections around the world. Carter was determined to eradicate guinea worm infections as one of many health initiatives. Swinging hammers into their 90s, the Carters built homes with Habitat for Humanity. The common observation that he was better as an ex-president rankled Carter. His allies were pleased that he lived long enough to see biographers and historians revisit his presidency and declare it more impactful than many understood at the time. Propelled in 1976 by voters in Iowa and then across the South, Carter ran a no-frills campaign. Americans were captivated by the earnest engineer, and while an election-year Playboy interview drew snickers when he said he “had looked on many women with lust. I’ve committed adultery in my heart many times,” voters tired of political cynicism found it endearing. The first family set an informal tone in the White House, carrying their own luggage, trying to silence the Marine Band’s traditional “Hail to the Chief” and enrolling daughter, Amy, in public schools. Carter was lampooned for wearing a cardigan and urging Americans to turn down their thermostats. But Carter set the stage for an economic revival and sharply reduced America’s dependence on foreign oil by deregulating the energy industry along with airlines, trains and trucking. He established the departments of Energy and Education, appointed record numbers of women and nonwhites to federal posts, preserved millions of acres of Alaskan wilderness and pardoned most Vietnam draft evaders. Emphasizing human rights , he ended most support for military dictators and took on bribery by multinational corporations by signing the Foreign Corrupt Practices Act. He persuaded the Senate to ratify the Panama Canal treaties and normalized relations with China, an outgrowth of Nixon’s outreach to Beijing. But crippling turns in foreign affairs took their toll. When OPEC hiked crude prices, making drivers line up for gasoline as inflation spiked to 11%, Carter tried to encourage Americans to overcome “a crisis of confidence.” Many voters lost confidence in Carter instead after the infamous address that media dubbed his “malaise” speech, even though he never used that word. READ MORE: Rosalynn Carter, outspoken former first lady, dies at 96 After Carter reluctantly agreed to admit the exiled Shah of Iran to the U.S. for medical treatment, the American Embassy in Tehran was overrun in 1979. Negotiations to quickly free the hostages broke down, and then eight Americans died when a top-secret military rescue attempt failed. Carter also had to reverse course on the SALT II nuclear arms treaty after the Soviets invaded Afghanistan in 1979. Though historians would later credit Carter’s diplomatic efforts for hastening the end of the Cold war, Republicans labeled his soft power weak. Reagan’s “make America great again” appeals resonated, and he beat Carter in all but six states. Born Oct. 1, 1924, James Earl Carter Jr. married fellow Plains native Rosalynn Smith in 1946, the year he graduated from the Naval Academy. He brought his young family back to Plains after his father died, abandoning his Navy career, and they soon turned their ambitions to politics . Carter reached the state Senate in 1962. After rural white and Black voters elected him governor in 1970, he drew national attention by declaring that “the time for racial discrimination is over.” Carter published more than 30 books and remained influential as his center turned its democracy advocacy onto U.S. politics, monitoring an audit of Georgia’s 2020 presidential election results. After a 2015 cancer diagnosis, Carter said he felt “perfectly at ease with whatever comes.” “I’ve had a wonderful life,” he said. “I’ve had thousands of friends, I’ve had an exciting, adventurous and gratifying existence.” ___ Contributors include former AP staffer Alex Sanz in Atlanta. Bill Barrow, The Associated PressAMGEN ANNOUNCES 2025 FIRST QUARTER DIVIDEND
NEW YORK, Dec. 22, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Marqeta, Inc. MQ and certain of the Company's senior executives for potential violations of the federal securities laws. If you invested in Marqeta, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/marqeta-inc . Investors have until February 7, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Marqeta securities. The first-filed case is pending in the U.S. District Court for the Northern District of California and is captioned Wai v. Marqeta, Inc., et al. , No. 24-cv-8874. Why was Marqeta Sued for Securities Fraud? Marqeta is a financial technology company that provides a card issuing platform, enabling businesses to create and manage customized payment cards. During the relevant period, Marqeta discussed its ability to attract and retain customers while continuing to achieve operational efficiencies given the purported investments it already made into its compliance infrastructure. In truth, it is alleged that at the time the statements were made, Marqeta experienced longer customer onboarding timelines caused by heightened regulatory scrutiny and insufficient investments into the Company's compliance apparatus. The Stock Declines as the Truth is Revealed On November 4, 2024, the Company reported its third quarter 2024 financial results and cut its full year 2025 growth outlook, due to "heightened scrutiny of the banking environment and specific customer program changes." On the earnings call the same day, the Company revealed that "the regulatory scrutiny" had "clearly ratcheted up" in the "first few months of 2024." Marqeta also admitted that the impact the increased scrutiny had on the Company's business "became apparent over the last few months." This news caused the price of the Company's stock to fall over 42%, from a closing price of $5.95 per share on November 4, 2024, to $3.42 per share on November 5, 2024. Click here if you suffered losses: https://www.bfalaw.com/cases-investigations/marqeta-inc . What Can You Do? If you invested in Marqeta you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses. Submit your information by visiting: https://www.bfalaw.com/cases-investigations/marqeta-inc Or contact: Ross Shikowitz ross@bfalaw.com 212-789-3619 Why Bleichmar Fonti & Auld LLP? Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs' Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd. For more information about BFA and its attorneys, please visit https://www.bfalaw.com . https://www.bfalaw.com/cases-investigations/marqeta-inc Attorney advertising. Past results do not guarantee future outcomes. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Kathmandu, Dec 22: Minister for Communications and Information Technology, Prithvi Subba Gurung, has said the rumour spread from the undisclosed source about government's stability was worthless. He made it clear while speaking before media on Sunday. Minister Gurung, who is also the Spokesperson of government, claimed the big parties in country- Nepali Congress and CPN UML- had built the present coalition and it would remain intact till the next general election, 2084. "There are 167 seats of NC and UML combined in the parliament. No other parties were sought cooperation for majority," he said, adding that as long as these two large parties harbour the common value of alliance as imperative to resolve the national crisis, no other factors can change it. According to him, the present government rescued the country from being a failure. Even the intolerance in social sectors was wiped out by this government, he added. "The NC-UML consensus reflects the unity like that of 2048, 2056 and 2064 for the alliance and go to the next election with healthy competition," Gurung reiterated. He informed that the national pride projects could not conclude in time because of policy confusion, low revenue collection and slack enforcement of budget resulted after the political instability. The government was formed against this backdrop which had also witnessed a rise on trade loss. Now, the government is working in a way to prove its mettle. Political stability and good governance are the top priorities of the government, while the remaining tasks of peace process will also be concluded soon. Minister admitted that although there is a rare case in the world that two large parties- first and second- form government in the parliamentary system, the government is made with the resolution of development, prosperity and stability. Gurung further reminded that when the national politics sees difficulty, the major parties have stood together. Present government is also made upon this scenario, and it meets is objective at any rate.(RSS)
By Anna Helhoski, NerdWallet The battle to get here was certainly an uphill one, but people are generally feeling better about the economy and their finances than they once did. On top of that, the economy has been easing into an ideal, Goldilocks-like position — not running too hot or cooling too quickly. Throughout 2024, consumer sentiment data showed people were fairly positive about the economy and their own finances, even if there’s remaining frustration over elevated prices compared to four years ago. Looking ahead, households are feeling more optimistic about their personal finances in the next year, as the share of those expecting to be in a better financial situation a year from now hit its highest level since February 2020. Combine positive personal vibes with a strong economic picture and it looks like 2024 wasn’t so bad for consumers, after all. But that doesn’t mean there weren’t bumps in the road or potential roadblocks ahead. To cap off the year, NerdWallet writers reflect on the top trends in personal finance and the economy this year — and what they think might be ahead in 2025. Elizabeth Renter, NerdWallet’s economist What happened: In 2024, U.S. consumers have proven resilient following a period of high inflation and ongoing high interest rates. Wage growth has been strong, owing in part to rising productivity. This has driven robust spending throughout the year, which has kept the economy growing at a healthy pace. The labor market has remained steady, though cooler than 2023, and price growth continues to moderate towards the Federal Reserve’s 2% inflation goal. Related Articles What’s ahead: Barring significant changes to economic policy and significant shocks, the U.S. economy is expected to grow at a moderate rate in the coming year. Inflation will continue to moderate and the labor market will remain relatively healthy, all due in part to continued slow and deliberate rate cuts from the Fed. However, there are risks to this path. Higher tariffs and tighter immigration policies are likely, but the extent of these changes are yet unclear. The potential policy scenarios are many, and the economic outcomes complex. Increased tariffs are generally inflationary, and stricter immigration policies could impact the labor supply and economic growth. Consumers and small business owners with their eyes to the new year should focus on the things within their control. Margarette Burnette, consumer banking and savings writer What happened: High-yield savings accounts and certificates of deposit offered elevated rates in 2024, rewarding savers with strong returns. Following the Federal Reserve rate cuts in the second half of the year, high-yield accounts had modest rate decreases, but they continued to outperform traditional savings accounts and CDs. What’s ahead: We’re watching for further Federal Reserve rate cuts, which could lead to more decreases in savings rates. Sara Rathner, credit cards writer What happened: Credit card debt levels hit record highs, with consumers turning to credit cards to pay for necessities. While the economy is doing well, many individuals have struggled to make ends meet, as incomes haven’t kept up with certain costs. What’s ahead: We may see some policy and regulation changes with the incoming administration that could affect folks when it comes to credit cards, debt and consumer protections. Ryan Brady, small business writer What happened : New businesses continued to blossom in 2024 as business applications remained well above pre-pandemic levels. Confidence in the future state of the U.S. economy also spiked after the presidential election, but that optimism was tempered by concerns over rising costs and labor quality. What’s ahead: All eyes are on the incoming administration as small-business owners brace for turbulence resulting from potential tariffs, tax policy changes and dismantled government regulations. We’re also watching the possibility of interest rate cuts in 2025 and small-business owners’ growing reliance on new technologies, such as AI. Holden Lewis, mortgages writer What happened: Home buyers struggled with elevated mortgage rates, rising house prices and a shortage of homes for sale. On top of that, a new rule required buyers to negotiate their agents’ commissions. What’s ahead: The Federal Reserve is expected to cut short-term interest rates, but mortgage rates might not necessarily fall by a similar amount. Buyers will probably have more properties to choose from, and the greater supply should keep prices from rising a lot. Interest rates on home equity loans and lines of credit should fall, making it less expensive to borrow to fix up homes — either to sell, or to make the home more comfortable and efficient. Sam Taube, investing writer What happened: The stock market had a great year. The S&P 500 is up more than 25% due to falling interest rates, fading recession fears, AI hype, and the possibility of lighter taxes and regulations under the new administration. Cryptocurrency also saw big gains in 2024; the price of Bitcoin crossed the $100,000 mark for the first time in December. What’s ahead: A lot depends on how fast the Fed reduces rates in 2025. Another key unknown is Trump’s second term. Regulatory rollbacks, such as those he has proposed for the banking industry, could juice stock prices — but they also could create systemic risks in the economy. His proposed tariffs could also hurt economic growth (and therefore stock prices). Finally, it remains to be seen whether trendy AI stocks, such as NVIDIA, can continue their momentum into next year. It’s the same story with crypto: How long will this bull market last? Caitlin Constantine, assistant assigning editor, insurance What happened: Many people saw their home and auto insurance premiums skyrocket in 2024. In some states, homeowners are finding it harder to even find policies in the first place. Meanwhile, life insurance rates have started to decrease post-pandemic. We also saw more insurers offering online-only policies that don’t require a medical exam. What’s ahead: Auto and home insurance costs will likely continue to rise, although auto premiums may not rise as dramatically as they have over the past few years. And if you’re in the market for life insurance, expect to see competitive life insurance quotes and more customizable policies. Eliza Haverstock, student loans writer What happened: Borrowers received historic student loan relief, but lawsuits derailed an income-driven repayment plan used by 8 million whose payments are indefinitely paused. Uncertainty will carry into 2025 as a result of the presidential administration change. What’s ahead: Trump has pledged to overhaul higher education and rein in student loan relief. The fate of the SAVE repayment plan, student loan forgiveness options, FAFSA processing and more remain in the balance. Meghan Coyle, assistant assigning editor, travel What happened: People are willing to pay more for big and small luxuries while traveling, and airlines and hotels are taking note. Many airlines raised checked bag fees early in 2024, credit card issuers and airlines invested in renovated airport lounges, and major hotel companies continued to add luxury properties and brands to their loyalty programs. What’s ahead: Southwest will say goodbye to its open seating policy and introduce new extra-legroom seats, a major departure for the airline. Alaska Airlines and Hawaiian Airlines will unveil a unified loyalty program in 2025. Spirit Airlines may attempt to merge with another airline again after its 2024 bankruptcy filing and two failed mergers under President Biden’s administration. Travelers will find that they’ll have to pay a premium to enjoy most of the upgrades airlines and hotels are making. Laura McMullen, assistant assigning editor, personal finance What happened: This year, dynamic pricing expanded beyond concerts and travel to online retailers and even fast-food restaurants. This practice of prices changing based on real-time supply and demand received plenty of backlash from consumers and prompted the Federal Trade Commission to investigate how companies use consumers’ data to set prices. What’s ahead: Beyond an expansion of dynamic pricing — perhaps with added oversight — expect subscription models to become more prevalent and demand for sustainable products to grow. Shannon Bradley, autos writer What happened: New-car prices held steady in 2024 but remained high after a few years of sharp increases — the average new car now sells for about $48,000, and for the first time ever the price gap between new and used cars surpassed $20,000 (average used-car prices are now slightly more than $25,000). Overall, the car market returned to being in the buyer’s favor, as new-car inventories reached pre-pandemic levels, manufacturer incentives began making a comeback and auto loan interest rates started to decline. What’s ahead: The future of the car market is uncertain and depends on policies implemented by the incoming administration. Questions surround the impact of possible tariffs on car prices, whether auto loan rates will continue to drop, and if federal tax credits will still be available for electric vehicle buyers. Jackie Veling, personal loans writer What happened: Buy now, pay later continued to be a popular payment choice for U.S. shoppers, even while facing headwinds, like an interpretive ruling from the CFPB (which determined BNPL should be regulated the same as credit cards) and Apple’s discontinuation of its popular Apple Pay Later product. Large players like Affirm, Klarna and Afterpay continued to offer interest-free, pay-in-four plans at most major retailers, along with long-term plans for larger purchases. What’s ahead: Though more regulation had been widely anticipated in 2025, the change in administration suggests the CFPB will play a less active role in regulating BNPL products. For this reason, and its continued strength in the market, BNPL will likely keep growing. Taryn Phaneuf, news writer What happened: Easing inflation was a bright spot in 2024. In June, the consumer price index fell below 3% for the first time in three years. Consumers saw prices level off or decline for many goods, including for groceries, gas and new and used vehicles. But prices haven’t fallen far enough or broadly enough to relieve the pinch many households feel. What’s ahead: The new and higher tariffs proposed by the Trump administration could reignite inflation on a wide range of goods. Taryn Phaneuf, news writer What happened: Rent prices remain high, but annual rent inflation slowed significantly compared to recent years, staying around 3.5% for much of 2024, according to Zillow, a real estate website that tracks rents. A wave of newly constructed rental units on the market seems to be helping ease competition among renters and forcing landlords to offer better incentives for signing a lease. What’s ahead: If it continues, a softening rental market could work in renters’ favor. But construction is one of several industries that could see a shortage of workers if the Trump administration follows through on its promise to deport undocumented immigrants. A shortage of workers would mean fewer houses and apartments could be built. Anna Helhoski, news writer What happened: After a contentious presidential campaign, former President Donald Trump declared victory over Vice President Kamala Harris. While on the campaign trail, Trump promised to lower inflation, cut taxes, enact tariffs, weaken the power of the Federal Reserve, deport undocumented immigrants and more. Many economists have said Trump’s proposals, if enacted, would likely be inflationary. In Congress, Republicans earned enough seats to control both houses. What’s ahead: It’s unclear which campaign promises Trump will fulfill on his own and with the support of the new Congress. He has promised a slew of “day one” actions that could lead to higher prices, including across-the-board tariffs and mass deportations. Most recently, Trump pledged to enact 20% tariffs on Canada and Mexico, as well as an additional 10% tariff on China. He has also promised to extend or make permanent the 2017 Tax Cuts and Jobs Act; many of its provisions expire by the end of 2025. Anna Helhoski, news writer What happened: Fiscal year 2023-2024’s funding saga finally came to an end in March, then six months later, the battle to fund the fiscal year 2024-2025 began. The Biden Administration waged its own war against junk fees . Antitrust enforcers pushed back against tech giants like Amazon, Apple, Google, and Meta; prevented the Kroger-Albertsons merger; nixed the Jet Blue-Spirit Airlines merger; and moved to ban noncompete agreements. The Supreme Court rejected a challenge to the constitutionality of the Consumer Financial Protection Bureau, as well as a challenge to abortion pill access. SCOTUS also overruled its landmark Chevron case, which means every federal regulatory agency’s power to set and enforce its own rules are now weaker. What’s ahead: The election’s red sweep means the GOP will control the executive and legislative branches of government. They’ll face the threat of at least one more potential government shutdown; a debt ceiling drama comeback; and the beginning of the debate over extending or making permanent provisions of the expiring 2017 Tax Cuts and Jobs Act. More From NerdWallet Anna Helhoski writes for NerdWallet. Email: anna@nerdwallet.com. Twitter: @AnnaHelhoski. The article What Trended in Personal Finance in 2024? originally appeared on NerdWallet .
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