U.S. airlines spent $6.66 billion on jet fuel in May, the second straight month that fuel costs topped $6 billion, according to government data released Tuesday. The May figure was 84% higher than a year earlier. Airlines spent $6.47 billion on fuel in April, the Bureau of Transportation Statistics said. The higher year-over-year spending has … Read more
NEW YORK — A handful of countries in the OPEC+ oil-producing alliance plan to increase their outputs modestly next month, which would bring more oil online after fuel prices have fallen to levels not seen since before the U.S. and Israel’s war with Iran. The Organization of the Petroleum Exporting Countries and its allies — … Read more
The average homeowner is sitting on hundreds of thousands of dollars worth of home equity now. Thana Prasongsin/Getty Images In today’s economic climate, where inflation is surging and interest rates are elevated and likely to remain so for the foreseeable future, millions of Americans are focused on two questions: How to save money and how … Read more
Meta is rolling out an Instagram subscription service for $3.99 a month, called Instagram Plus, which adds features such as “stories” that last for 48 hours, double the amount of time for nonpaying users. The new service is aimed at helping Meta diversify its revenue base, which is heavily dependent on advertising. The photo-sharing app … Read more
Savers anticipating a Social Security cut should start exploring ways to boost their savings accounts now. DNY59/Getty Images Social Security recipients may have to make up a shortfall of as much as $500 each month. That’s according to a new report released this week that outlined a scenario in which the program’s retirement trust fund … Read more
As May’s final day of oil trading is underway, the price of crude is set for its biggest one-month decline in six years, delivering some relief to consumers at the pump and some optimism to investors hoping for an end to sky-high energy prices. Subscribe to read this story ad-free Get unlimited access to ad-free … Read more
The idea of debt consolidation sounds straightforward, but the actual cost can vary more than you might expect. Muhammad Aqib/Getty Images There’s no question that today’s economic landscape is making it tough for borrowers to keep up with, much less get ahead of, their debt. Not only are credit card balances climbing, but credit card … Read more
Knowing that annuities exist and understanding what they’ll actually deliver in retirement are two different things. Nanci Santos/Getty Images Retirement doesn’t look the way it used to. More Americans are heading into retirement without a pension, and are instead leaning on savings accounts and investment portfolios that have become increasingly subject to market swings and … Read more
Debt relief companies don’t simply pass your monthly payment along to creditors — at least not initially, anyway. Skaman306/Getty Images Household and credit card debt levels are higher than ever right now, and, in turn, millions of Americans are carrying credit card balances they can’t pay down. And, the burden is only growing as the … Read more
KYIV, Ukraine — Ukraine used interceptor systems to shoot down more than 33,000 Russian drones of various types in March, a record monthly figure since Moscow launched its all-out invasion more than four years ago, Ukraine’s defense minister claimed. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content. Meanwhile, … Read more