Two of the largest banks in the US are declaring a loss on a whopping $3.5 billion in debts that customers can’t pay back. JPMorgan Chase says its net charge-offs, which are delinquent debts that banks do not expect to receive, hit $2.2 billion in the second quarter of the year.

JPMorgan Chase, Wells Fargo Suffer $3,500,000,000 in Losses As US Banks Report Major Surge in Bad Debt

Active ETFs set to quadruple in size over next six years, driven by market volatility and investor demand. BlackRock is projecting the active ETF market to reach $4 trillion by 2030, more than quadrupling in size from its current levels, according to a new report from the asset manager. The...

Active ETFs Poised for Massive Growth, BlackRock Reports

Markets Insider

The S&P 500's record-setting rally this year has sparked a wave of price target increases from Wall Street. The most bullish S&P 500 price target is 6,000 from Evercore ISI, which represents a gain of about 7%. Key bullish drivers includes AI benefits, consumer resilience, and imminent Fed rate cuts.

Wall Street is bullish on stocks for the 2nd half of the year. Here are each firm's exact forecasts.

Bank of America shares rose Tuesday after reporting better second-quarter revenue and profit than analysts had projected. Net interest income, however, was lower than the same time last year, as Bank of America joins other banks that recently reported drops to NII in the second quarter. The bank's investment banking...

Bank of America Posts Earnings Beat on Investment Banking Boost

Reality is beginning to settle in for three of the largest U.S. banks, at least according to their second-quarter results. While some of the truths reflected in earnings reports at JPMorgan Chase, Citigroup, and Wells Fargo gave the banks — and their investors — reason to rest easy, some potential storm clouds are still visible in the distance.

Wells Fargo, Citi, and JPMorgan reported earnings. Here's what to know

Lancaster County, PA

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NewsByJoshua

Fans of Frisco's Chicken were left reeling as the beloved Peruvian-style eatery announced the closure of all its locations in Lancaster County, Pennsylvania. The chain, known for its delicious food and strong community values, posted a heartfelt note on its doors, informing customers of the devastating news.

Favorite Chicken Chain Suddenly Closes All Stores, Heartfelt Message Found on Doors

New York City, NY

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Cheryl E Preston

Yesterday was the third time this year that an ad stating Chelsea Clinton lives in a beautiful Virginia home popped up on my laptop. My computer did not warn me this was a dangerous site, so this time, I clicked on the link.

Chelsea Clinton is rumored to be living in Virginia but probably still in NYC

Chicago, IL

Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

Indiana State

Franklin, IN

A wave of closures is hitting Pizza Hut, a pizza chain known for its iconic slanted-roof buildings, with 6,775 locations feeling the pinch in the tough restaurant industry landscape.

A well-known pizza chain with over 6K locations has begun closing some of its stores

The Motley Fool

The S&P 500 is near its all-time high, but not all stocks are in the same boat.

2 Magnificent Stocks to Buy That Are Near 52-Week Lows

Artificial intelligence may save the world (or destroy it, depending on who you ask), but first it’s gotta move out of its parents’ basement. Big Tech and government programs are expected to dump $1 trillion into AI infrastructure in the coming years, including big splashes for new data centers, chip factories, and the power grids needed to make it all happen. But, beyond some reports of worker efficiency and automation, the returns on those investments have been slim to none, according to new research from Goldman Sachs.

Goldman’s $1T AI Problem

Kentucky State

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Northern Kentucky Tribune

Kentucky’s Community Actions Partnerships have announced the starts date for the Low-Income Home Energy Assistance Program (LIHEAP) Summer Subsidy, aimed at helping Kentucky households offset summer cooling costs.

LIHEAP Summer Subsidy program to help with summer cooling costs to begin enrollment July 16

Pennsylvania State

Bucks County Beacon

With an assassination attempt on Donald Trump at a rally in Pennsylvania on July 13, 2024, the U.S. experienced another violent episode in its increasingly polarized politics. Former President Trump, who’s about to formally become the GOP nominee for president in the 2024 election, survived the attempted assassination when, initial reports said, a bullet grazed his ear . But one rally attendee was killed , more spectators were injured and the suspected gunman is also dead. The Conversation’s politics editor, Naomi Schalit, spoke with University of Massachusetts, Lowell, scholar Arie Perliger after the event. Perliger offered insight from his study of political violence and assassinations. Given the stark political polarization in the U.S., Perliger said, “it’s not a surprise that eventually people engage in violence.”

‘One Inch from a Potential Civil War’? Trump Shooting a Close Call for American Democracy

“Who sits there and thinks, with all the needs we have in America, of criminalizing the homeless?” wonders Pastor Robert Brown of Bristol’s Bible Evangelical Methodist Church after learning that the United States Supreme Court approved punishing those experiencing homelessness who have nowhere to sleep.

After SCOTUS OK’s Criminalization of Homelessness, Pennsylvania Democrats Plan Legislative Response to Protect Rights of the Unhoused

Sorry, private equity, this is one American legacy retailer you can’t have. On Monday, the board of directors for Macy’s unanimously voted to end negotiations with activist investors Arkhouse and Brigade — both PE firms — to take the company private for roughly $7 billion at about $25 per share. A Macy’s executive said “the proposal lacks certainty of financing and does not deliver compelling value.” There’s little time for the board to celebrate its decision, though, as the department store has now entered a make-or-break moment.

Macy’s Says No to Private Equity Buyout. Now What?

Aurora, CO

David Heitz

Aurora’s pallet shelters for people experiencing homelessness, which only allow a maximum 30-day stay, have been cycling the same individuals in and out, city staff told council members Thursday. Many return to street encampments when their time in the pallet shelter runs out, Jessica Prosser, homeless services director for the city, said. Then, the city sweeps the encampment again, and they get to come back to the shelter for another 30 days, Prosser explained. This process can repeat multiple times.

Aurora pallet shelters a revolving door for homeless

California State

The HD Post

CALIFORNIA – Starting July 1, landlords will only be allowed to collect one month’s rent for the security deposit on a rental property. Assembly Bill 12, signed into law last October, says regardless of whether the residential property is unfurnished or furnished, only one month’s rent can be charged in addition to any rent for the first month paid on or before initial occupancy.

Law limiting security deposits goes into effect July 1

Josue Torres

Governor Gavin Newsom has announced a collaborative effort with the state legislature to restrict students’ use of smartphones during school hours. This initiative follows a warning issued on Monday from Surgeon General Dr. Vivek Murthy about the detrimental effects of social media on children’s mental health.

California governor moves to ban smartphone use in schools

New Jersey State

Morristown Minute

NEW JERSEY - Attorney General Matthew J. Platkin and the Division of Consumer Affairs announced today that Walmart has agreed to pay $1.64 million to settle allegations of unlawful unit pricing practices across its 64 New Jersey retail stores. The settlement, which includes a $1.61 million civil penalty, marks the largest ever obtained by the Division’s Office of Weights and Measures (OWM).

Walmart Pays $1.64M Settlement for Unlawful Pricing in NJ

Alameda Post

California regulators just stopped AT&T from pulling the plug. California’s Public Utilities Commission on June 20 rejected AT&T’s application to stop providing landlines and other services in areas where there is no other option.

Still Need Your Landline?

NewsBreak

BlackRock Hits Record AUM as Wall Street Banks Report Solid Earnings

The world’s largest investment company just got even bigger. In the second quarter, BlackRock raked in $51 billion of new client cash, bringing its assets under...

BlackRock Hits Record AUM as Wall Street Banks Report Solid Earnings

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