[View RSS]

Business :: Finance

USDA: Cost to Raise Child Up Slightly to $245,340

FINANCE | Wednesday Aug 20, 2014
A child born in 2013 will cost a middle-income American family an average of $245,340 until he or she reaches the age of 18, with families living in the Northeast taking on a greater burden, according to a new report.

How Much is $100 Worth in Your State?

FINANCE | Aug 19
A new report by the Commerce Department shows in which states $100 will go the farthest. Mississippi spenders get the most bang for their buck, while $100 buys the least in Washington, D.C. Norah O'Donnell reports.

NY Fed: US Auto Loans Soar to Highest in 8 Years

FINANCE | By Christopher S. Rugaber | Aug 18
U.S. auto loans jumped to the highest level in eight years this spring, fueled by a big increase in lending to risky borrowers, according to a report Thursday by the Federal Reserve Bank of New York.

5 Tips for Sensible Back-to-School Spending

FINANCE | By Alex Veiga | Aug 15
Students may not be thrilled about their summer break drawing to a close, but retailers couldn't be happier. That's because back-to-school shopping traditionally brings in a windfall that's second only to the December holiday season.

US Consumer Credit Increased at Slower Pace in June

FINANCE | By Josh Boak | Aug 13
U.S. consumers expanded their borrowing at a slower rate in June compared to the prior month. Overall credit rose by $18.3 billion in June to a total of $3.17 trillion, the Federal Reserve said.

Average US 30-Year Mortgage Rate at 4.14 Percent

FINANCE | Aug 11
Average long-term U.S. mortgage rates rose slightly last week but remained near their lows for the year. Mortgage company Freddie Mac said the nationwide average for a 30-year loan inched up to 4.14 percent from 4.12 percent last week.

 Susan McNamara returns a book to the public library in Quincy, Mass.

Not So Golden: Wealth Gap Lasting into Retirement

FINANCE | By Michael Hill | Aug 8
William Kistler views retirement like someone tied to the tracks and watching a train coming. It's a looming threat, but there's little he can do. He has saved little in a 401(k) over the past decade, spending most of his working life self-employed.

Nobody's Home: The Ghost Cities of China

FINANCE | Aug 7
Tour China's ghost cities, as we did with financial analyst Gillem Tulloch, and you'll see the spooky signs of a real estate bubble. Watch Lesley Stahl's full report on "China's Real Estate Bubble."

How to Fit a Wind Farm into Your Portfolio

FINANCE | By Jonathan Fahey | Aug 7
You can now fit a wind or solar farm into your portfolio, even if your portfolio isn't exactly vast. Energy companies are wrapping renewable energy projects and other power-related assets that generate steady cash into new companies.

GM Finance Subpoenaed Over Subprime Auto Loans

FINANCE | Aug 4
GM Finance says it has received a subpoena from the U.S. Department of Justice for documents related to subprime auto loans.

Nearly One-in-Four Americans Dogged by Debt Collectors

FINANCE | Aug 4
The recession may have slowed somewhat, but millions of Americans find themselves in hock to creditors. Many Americans who suffered economic hardships, including unemployment, are finding it hard to chip away at their debt. Anthony Mason reports.