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20

Richard Cordray to step down from job overseeing $1.6 trillion in federal student loans

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The former CFPB director will end his tenure as head of the Office of Federal Student Aid in June.

Hertz’s stock is having an awful week, and BofA adds to investors’ misery

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Hertz’s stock continued its dive Friday toward yet another record low, after BofA Securities added to the rental-car company’s woes by recommending investors sell.

19

Is your financial adviser on your side? There are new rules for managing retirement savings — why investors should care.

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There may now be a distinction between fiduciary responsibilities and your “best interest.”

Intel’s bad year worsens, with analyst decrying company as ‘profoundly broken’

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Intel’s bad year is getting worse as the chip stock experiences another sharp slide in the wake of earnings.

Chevron’s stock pulls back as profit drops amid plunge in natural-gas prices

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Shares of Chevron Corp. pulled back Friday, putting them on track for their first loss in eight sessions, after the oil giant reported first-quarter profit and revenue that fell amid a sharp drop in natural-gas prices, but still managed to…

Biden’s new overtime rule could help millions of ‘stuck’ salaried workers. But there are hurdles ahead.

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The new rule expands the number of employees eligible for extra pay after working more than 40 hours. Legal challenges have derailed previous changes.

Cannabis banking measure to be left out of FAA bill, industry exec says

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Dutchie’s Bryan Barash said he’s disappointed that the SAFER Banking Act won’t be included in FAA funding bill.

18

Exxon Mobil’s stock falls after profit and production drop below forecasts

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Shares of Exxon Mobil Corp. dropped more than 3% Friday after the oil and gas giant reported first-quarter profit and production that fell below forecasts, even as revenue beat expectations by a wide margin.

What Trump Media gets wrong when blaming short sellers for DJT stock volatility

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Also, the Moneyist helps with a tricky estate plan, and good news in the housing market.

Need to start saving for retirement? Here are 5 easy ways to get going.

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One of the most important aspects of financial fitness is planning for retirement, and a crucial fact about retirement planning is that the earlier you start doing it, the easier it is to reach your goals.

Centene’s earnings crush estimates and company raises guidance

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Centene Corp.’s stock rose 3.4% early Friday, after the managed healthcare provider blew past earnings estimates for the first quarter and raised its full-year guidance.

Economists react to Trump possibly curbing Fed’s independence: ‘Bad idea of all bad ideas’

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Economists and other analysts are sounding off after a Wall Street Journal report said some allies of presumptive Republican presidential nominee Donald Trump have proposals to erode the Federal Reserve’s independence.

Realtors spend record $14.7 million on first-quarter lobbying as shakeup hits the real-estate industry

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The National Association of Realtors scaled up its Washington lobbying effort in this year’s first quarter, according to disclosures.

College financial aid: How to navigate offers in one of the most challenging seasons yet

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The botched rollout of a revamped federal financial aid form has made this year’s college acceptance season particularly vexing.

17

Nio’s stock jumps after report of China’s plan to boost EV sales

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Shares of Nio Inc., and those of other China-based electric-vehicle makers, powered higher Friday, after a report that China reportedly plans to provide car owners with an incentive to buy EVs.

Colgate-Palmolive’s first-quarter earnings beat estimates and company raises guidance

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Colgate-Palmolive Co.’s stock rose 2.9% early Friday, after the consumer goods giant beat first-quarter earnings estimates and raised its guidance.

Oil prices set for weekly gains, despite easing back from highs after U.S. inflation data

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Oil futures climbed on Friday, with both U.S. and global benchmark crude prices headed for their first weekly gains in three weeks.

Here’s how much money No. 1 pick Caleb Williams and other 2024 NFL draft picks will earn on their rookie contracts

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Dropping a few spots can cost players millions. In 2023, Kentucky quarterback prospect Will Levis was selected much later than expected, and lost out on tens of millions of dollars.

Alphabet joins the $2 trillion market-cap club — and could vault above Nvidia

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The Google parent put “doomsday AI search share-loss fears” to bed with its latest earnings report.

Consumer sentiment weakens in late April, University of Michigan survey says

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Consumer sentiment deteriorated near the end of April, according to the latest reading from the University of Michigan.

16

Why Trump really could push the U.S. to default on its debt

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If Trump is elected president in November, he will face the U.S. government’s growing debt burden. He might try to resolve the issue by defaulting.

Treasury yields slip from 2024 highs even after Fed’s favored inflation report signals stalled progress

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Treasury yields eased from their highest levels of the year Friday morning, even after the Federal Reserve’s preferred inflation gauge showed prices jumped again in March.

15

Tesla’s December recall of 2 million vehicles over Autopilot now subject of regulatory probe

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The U.S. National Highway Traffic Safety Administration said Friday it has launched an investigation of Tesla Inc.’s December recall of 2 million vehicles that were equipped with its Autopilot system.

Newell’s stock rallies on revenue beat as it boosts margins and carries out restructuring plan

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The parent company of Rubbermaid, Sharpie, Mr. Coffee, Elmer’s glue and more said it lost $9 million, or 2 cents a share in the first quarter, compared to a loss of $102 million, or 25 cents a share, in the year-ago period.

14

Charter continues to shed internet subscribers, reflecting cable’s growth woes

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Charter lost more internet subscribers than expected in the first quarter as the cable industry’s broadband growth challenges continued.

Main Street isn’t saving and Wall Street isn’t shorting in an ‘Anything But Bonds’ bull market, says Bank of America

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The U.S. government has spent $6.2 trillion over the last 12 months, and investors seemed to have noticed.

AbbVie’s first-quarter results top expectations as arthritis drugs fuel growth

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AbbVie on Friday reported first-quarter results that beat expectations even as sales of its blockbuster autoimmune drug Humira continued to fall.

I’m going to inherit $6 million in property along with my two siblings — is there a ‘clever’ way to avoid capital-gains tax?

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“There are three siblings who are heirs, including me. What happens with the eventual distribution upon my surviving parent’s death?”

Can I contribute to a Roth 401(k) if I earn a high salary?

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The rules are different for Roth IRA and Roth 401(k) accounts