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As of November 2024, U.S. renters are grappling with significant rent increases, with the median rent now at $1,634, a 20% rise since pre-pandemic levels. Economic factors, including inflation and high interest rates, are causing consumers to hesitate on major purchases, leading to a notable 'election shopping slump.'
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Chancellor Rachel Reeves is expected to propose unprecedented tax increases in the upcoming Budget, aiming to address a £22 billion fiscal shortfall. Critics warn that these measures could lead to lower growth and job losses, marking a significant shift in Labour's fiscal policy since taking office.
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Gold prices have reached record highs, driven by inflation concerns, geopolitical tensions, and rising US national debt. Analysts predict prices could hit $3,000 per ounce by the end of 2025, as demand from central banks and safe-haven investors continues to grow.
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As the election nears, contrasting tax proposals from Trump and Harris are raising concerns among business leaders. Trump's plan includes extending tax cuts and eliminating income taxes, while Harris aims to increase corporate taxes and expand credits for low-income earners. The implications for American taxpayers are significant.
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Recent earnings reports from major companies reveal a mixed outlook, with some exceeding expectations while others fall short. Notable performances include ASML's bullish long-term revenue forecast and Deutsche Telekom's profitability growth, while Instacart and Pinterest face challenges in meeting earnings expectations.
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As the year-end approaches, institutional investors are ramping up selling activities, primarily for tax-loss harvesting. This strategy allows investors to offset capital gains taxes by selling underperforming assets. Experts also highlight the growing use of ING trusts for tax savings, particularly among business owners.
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The UK government's decision to freeze Local Housing Allowance (LHA) rates until 2026 has raised alarms among experts and charities. With rising rental costs, low-income renters are expected to face significant financial shortfalls, potentially leading to increased poverty and homelessness.
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Following Donald Trump's election victory, U.S. markets have surged, with the S&P 500 and Dow Jones reaching record highs. Investors are optimistic about potential tax cuts and deregulation, while Bitcoin also hit a new peak. The Federal Reserve's recent interest rate cut further fueled market enthusiasm, marking a significant week for financial assets.
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As financial struggles mount, individuals are increasingly considering bankruptcy as a viable option. This article explores personal experiences with debt, the stigma surrounding bankruptcy, and the potential benefits of filing under Chapter 7 or Chapter 13 of the federal bankruptcy code.