Thursday’s business headlines
INDIANAPOLIS (WISH) — Take a look at Thursday’s business headlines with Jane King.
Federal Reserve raises interest rates by half-point
The Federal Reserve did as expected and raised interest rates by a half percent. That means higher borrowing costs for consumers, but it also means your savings may actually start earning a little money.
It pays to shop around for a higher interest rate on your savings. Just be sure the institution is federally insured.
Delinquency rates for credit cards expected to jump to 10-year high
Consumer credit reporting agency Transunion says delinquency rates for credit cards and personal loans will jump next year to highs not seen in more than a decade.
It blames surging interest rates and persistently high inflation.
Transunion says people got used to the extra money during COVID and are now having trouble reigning in spending.
Twitter to remove tweets, accounts sharing live locations
Twitter announced an update to its private information policy just hours after the social media outlet suspended multiple accounts that track private jets.
The company says it will remove any tweets or accounts that share someone’s live location going forward, pointing to “increased risk of physical harm” when such information is shared.
Travel demand, costs climbing
Anyone looking to book a trip for early next year may be disappointed in the discounts. Demand is still high and costs for travel companies have climbed. Average prices for plane tickets, hotels, and short-term rentals will remain higher than they were last winter and before the pandemic, according to travel experts. Off-peak season deals are available.
Stock Update
Stocks ended in the red Wednesday.
Taco Bell considers making nacho fries permanent
Taco bell is looking at adding fries to its permanent lunch menu. Taco bell has put nacho fries, its take on French Fries, on the menu periodically as a limited-time offering since the item launched in 2018.
The head of Taco Bell says it wants to compete more with McDonald’s, and fries is a way to do that.