Money
Why are car prices so high?
Why are new cars getting expensive in the U.S.? And what is this leading to? The higher prices of cars means more Americans are getting themselves into more debt
A new report by Experian says new vehicle loans have reached a new high, standing at $40,290 dollars.
That means on average- payment to that loan would be more than $650 dollars a month.
That is 15% higher from the same period last year.
Another indication of these high loans is that- it now takes an average of almost 70 months to pay off the entirety of these loans.
But it’s not only new car buyers who are in debt.
Used car buyers are also taking out loans, and the average loan for them increased by nearly 19% to $28,534 dollars.
That means paying around $515 dollars a month.
The federal Reserve has been raising interest rates to lower inflation- but according to Reuters “prices of new vehicles in the United States have been rising faster than the overall inflation rate.
Further adding, that Automakers say they still cannot keep pace with demand because of shortages of semiconductors and other supply chain problems.
A separate report from J.D. Power observes that the average price of a new car hit a record high of $46,259.
And more data from Experian demonstrates an increased number of Americans are looking to buy second hand vehicles due to the high prices, with more than 60 percent of buyers getting a loan for a used car.
With supply chain problems and a post-pandemic recovery period, there are others too around the world complaining of high car prices.
But only time will show whether getting a new car will become harder or easier.
Money
U.S. and China approve TikTok sale to American investors
US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.
US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.
The United States and China have officially approved a deal for TikTok’s US operations to be sold to American investors, led by Oracle and Silver Lake.
This marks a major shift in the social media landscape as the platform navigates increasing regulatory scrutiny.
Under the new agreement, ByteDance will retain just under 20% of TikTok US, while Oracle and Silver Lake will each take 15% stakes. Other investors will also participate, forming a structure designed to satisfy both commercial and regulatory demands.
The new US-based entity will have a majority American board tasked with overseeing data protection and content moderation. Despite these safeguards, concerns remain about ByteDance’s influence and whether the deal fully complies with recent legislation.
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Money
Markets tumble as Trump tariffs, Greenland rhetoric and Europe backlash collide
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. equities took a sharp hit as markets reacted to renewed tariff threats and heightened political rhetoric from President Donald Trump. The Dow plunged more than 800 points, with the S&P 500 and Nasdaq also sliding as investor nerves rattled risk assets.
The sell-off highlights growing concern around global trade tensions and geopolitical uncertainty, with markets struggling to price in what comes next for U.S. economic leadership and policy direction.
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Money
Gold hits record highs as investors flee risk
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold is shining brighter than ever as investors flock to safe-haven assets amid global uncertainty. U.S. gold futures for February delivery jumped 1.71% to $4,674.20 per ounce, while spot gold rose 1.6% to $4,668.14.
The surge comes as geopolitical tensions continue to worry traders, prompting a rush into metals perceived as stable and secure. Analysts say gold is proving its status as the ultimate hedge during turbulent times.
Investors are closely watching markets as gold sets new benchmarks, signalling growing caution across the financial landscape.
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