A record number of U.S. renters spent more than 30% of their income on rent in 2021 and mortgage rates fall to lowest level since mid-September. Freddie Mac says 3 million more people now qualify for a home loan.

Hi, MarketWatchers. Don’t miss these top stories. Death and deceit in Malibu: How yogi couple befriended and stole millions from vulnerable rich doctor Anton David and Anna Moore are accused of pretending to be caretakers for Dr. Mark Sawusch while really having an eye on his $60 million fortune. Read More ‘We are not visible, … Read more

PayPal, Salesforce cut hundreds more employees as tech layoffs continue

Hundreds of PayPal Holdings Inc. employees have begun to be notified that their jobs are being cut on the same week that Chief Executive Dan Schulman announced thousands of layoffs. According to a PayPal PYPL, +4.88% filing with the state of California, the online-payments company is laying off 319 employees at its San Jose, Calif., … Read more

FedEx’s stock surges toward biggest three-day gain in over two and a half years

Shares of FedEx Corp. surged toward their best three-day performance in 19 months on Thursday after two Wall Street analysts said it’s time to buy, noting that the package delivery giant’s announcement of job cuts shows that management is serious about cutting costs. Ken Hoexter of BofA Securities raised his rating on FedEx to buy … Read more

A record number of U.S. renters spent more than 30% of their income on rent in 2021

We want to hear from readers who have stories to share about the effects of increasing costs and a changing economy. If you’d like to share your experience, write to readerstories@marketwatch.com. Please include your name and the best way to reach you. A reporter may be in touch. A record number of U.S. renter households — … Read more

Why some awards shows are scrapping ‘actor’ and ‘actress’ categories to go gender-neutral

For film, television and theater stars, there can be no greater achievement than winning an acting award — say, an Oscar, Emmy or Tony. But the matter of gender has been inextricably tied to these industry honors in the form of separate categories for best actor and best actress. Now, in an era of growing … Read more

U.S. jobless claims drop to nine-month low of 183,000 even as more firms announce layoffs

The numbers: The number of Americans who applied for unemployment benefits at the end of January fell to a nine-month low of 183,000, signaling that the U.S. labor market is still going strong despite more reports of corporate layoffs. New applications slipped from 186,000 in the previous week, the government said Thursday. Economists polled by … Read more

Why it’s so hard for Black Americans to save for retirement – and how the pandemic escalated the racial wealth gap 

Financial adviser Pamela Capalad spends a lot of her time with clients breaking down job offers and coaching them on raise negotiations – she finds the strategies especially important for people of color. Income is one of the most important elements when saving for retirement and Black workers in America earn statistically less than their … Read more

Okta CEO says layoffs were ‘the last thing I wanted to do’ as company cuts 300 jobs

The wave of software layoffs continued Thursday as Okta Inc. announced that it was cutting 300 jobs. Chief Executive Todd McKinnon disclosed the layoffs, which will affect about 5% of Okta’s OKTA, +4.87% employees, in an email to staffers Thursday that was also posted to the company’s corporate blog. “A workforce reduction like this is … Read more

‘Market volatility is to be expected’: After Fed’s latest rate hike, financial advisers tell clients where to put their cash — and earn up to 5.1%

The Federal Reserve boosted its influential interest rate yet again Wednesday, even as more signs indicate that inflation is cooling. It hiked the benchmark’s key rate by a quarter of a basis point, bringing it to the 4.5%–4.75% range. One basis point is equal to one hundredth of a percentage point. The Fed’s central bankers have said … Read more

Trump aide Hope Hicks joins Dolan team amid controversy over facial recognition at Madison Square Garden

Madison Square Garden has tapped a high-profile spin doctor to help its chairman, James Dolan, deflect criticism of his use of facial-recognition technology. Background: James Dolan defends facial-recognition policy as lawyers sue Madison Square Garden owner: ‘Please don’t come’ Dolan hired former Trump White House communications director Hope Hicks as a consultant at what’s been … Read more