Monday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Monday’s business headlines with Jane King.
Social Security cost-of-living adjustment to come
The social security cost-of-living adjustment could be much smaller next year.
Social Security benefits could increase by just 3% or less in 2024 as inflation fades.
Recipients saw a 8.7% bump this year, the highest in decades.
Regional banks earning reports expected this week
Regional Banks report earnings this week and may say they are paying depositors more to keep them.
small and midsize U.S. banks lost hundreds of billions of dollars in recent weeks to their bigger peers and to money-market funds offering higher yields. Fifth Third and first financial report Thursday and Friday.
Credit rate agencies removing some debt
The three most-used credit rating agencies have removed medical debt under $500 from consumer credit reports, potentially boosting some Americans’ credit scores. Equifax, Experian and Transunion announced the move this week.
Federal government testing bird flu vaccines
The U.S. government is testing four potential bird flu vaccines for poultry, after more than 58 million chickens, turkeys and other birds have died in the nation’s worst outbreak ever.
If the trials are successful and the United States Department of Agriculture decides to continue development, it would take at least 18-to-24 months for a vaccine that matches the current virus to be commercially available.
The Dow sheds more than 100 points Friday, but notches a fourth straight positive week.
Advance retail sales in march showed consumer spending fell twice as much as expected.