Author: Arabian Media staff
Key Takeaways Under the One Big Beautiful Bill Act (OBBBA, 2025), child tax credits increase to $2,200, and there are new $1,000 “Trump accounts” for babies, but families relying on safety net programs face significant cuts. Wealthy families gain about $12,000 annually while the poorest lose $1,600 per year, according to a Congressional Budget Office analysis. The massive tax and spending legislation President Donald Trump dubbed the “Big Beautiful Bill” is set to reshape your family’s finances in ways you might not expect. White House Press Secretary Karoline Leavitt hailed the bill’s passage, saying in a statement that it “delivers on…
Key Takeaways Car insurance costs are expected to continue rising in 2025.Factors such as climate disasters, rising repair costs, and changes to your personal situation can drive up the cost of premiums.You may be able to save hundreds by dropping comprehensive or collision coverage, or more than $1,100 by cutting both. Comprehensive and collision insurance aren’t required if you’ve paid off your vehicle, but some personal circumstances can make it wise to carry them. If you have a car, you’ve probably noticed your insurance rates have been going up in recent years. Costs rose 15% in 2024, according to Insurify…
Key Takeaways According to Guinness World Records, between 2021 and 2023 Elon Musk suffered the greatest loss of a personal fortune in history. His loss, which was on paper and due primarily to a drop in Tesla’s share price, amounted to nearly $200 billion. Since that time Musk has recouped his losses and is believed to be the world’s richest man by a considerable margin. Elon Musk is referred to as “the world’s richest man” so frequently that you might think he trademarked the phrase. But the South Africa-born billionaire also holds another distinction: the largest loss ever of a…
Key Takeaways If you have a joint checking account, the joint account holder typically takes over the account and has immediate access to the funds after providing proof of your death to the bank. If you have an individual account, the funds may go to your beneficiary or the executor of your estate to distribute the funds. Without a joint account holder, beneficiary, or executor named in your will, the account goes to probate court, where the court may handle the distribution of the funds. After you pass away, the ownership of your checking account may pass to the joint…
Countries use various measures to gauge their wealth. Below we outline the 10 countries with the highest incomes, based on disposable income per capita. Disposable income is the amount of money a person has available after paying their taxes. Key Takeaways Disposable income per capita is one way to measure a country’s wealth. Disposable income is income available for spending and saving after taxes have been paid. The United States had $62,722 in disposable income per capita in 2023 (latest information), the most of any nation. Other countries with high disposable income per capita include Luxembourg, Switzerland, Germany, and Australia.…
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldThe writer is a distinguished fellow in residence at the Brookings Institution, former chair of the Federal Reserve and former secretary of the TreasuryUS President Donald Trump’s claim that he has “fired” Federal Reserve governor Lisa Cook “for cause” is not only unlawful. It is profoundly dangerous. It represents a direct attempt to politicise the Fed, intimidate its leadership and bend monetary policy to the president’s will. This action threatens to end the independence of the Federal Reserve — and with it,…
Key Takeaways A $12,000 increase in salary can be substantial enough to accept a job offer, but do the math to consider any potential loss in benefits.You might consider accepting the offer if it advances your career or if it’s a better professional fit for you.Avoid accepting the offer based on salary alone, especially if you have to move for the job or give up seniority and professional perks. Getting a job offer is always thrilling, especially if it comes with the opportunity to earn $12,000 more than your current role. As inflation tends to push the cost of living…
Key Takeaways Unemployment rates for computer science and computer engineering majors are among the highest for all college majors. Between recent grads and experienced software engineers who have been laid off, the market has been flooded with job candidates. Recent grads should explore opportunities beyond big tech, stay up-to-date on new technologies, and use multiple channels to find jobs. In the past, having a computer science degree seemed like a ticket to a six-figure salary after graduating from college. Recently, however, many new grads in these majors are finding it difficult to secure employment. Unemployment rates for computer science and…
More than a century after its first punch‐card tabulators helped the U.S. Census count a growing nation, International Business Machines Corp. (IBM) is again surprising skeptics. Once written off as a lumbering mainframe relic, “Big Blue” has again captured Wall Street’s attention with a fresh strategy that combines hybrid cloud, artificial intelligence, and an ambitious, long-term play in quantum computing, which has given it a head start in one of the most significant mid-2020s tech trends. Revenues are growing again, its stock reached an all-time high in February 2025, and CEO Arvind Krishna is credibly pitching IBM as the platform…
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