A letter of credit is a payment method that smoothes the way for international trade and a variety of other transactions. With a letter of credit, buyers and sellers can reduce their risk, ensure timely payment, and be more confident about reliable delivery of goods or services. Learning about different types of letters of credit can help you choose which one to use and understand what you’re working with....
Learn more about the work of this federal agency. What Is the Equal Employment Opportunity Commission (EEOC)? The Equal Employment Opportunity Commission (EEOC) enforces federal laws that prohibit discrimination. It also provides oversight and coordination of all federal equal employment opportunity regulations, practices, and policies. Legislation enforced by the EEOC includes laws that prohibit discrimination, provide for equal pay, and mandate equal access to employment for qualified individuals with disabilities....
If you’re starting to build your credit from scratch, expect to wait six months before you have a credit score. The credit-scoring algorithm needs you to have at least one account active for three to six months before it can generate a credit score for you. Become an Authorized User Being an authorized user means you can use another person’s credit card, but don’t have the responsibility of making payments....
How the Historical Cost Principle Works A business asset is something of value that you buy for your business, like a computer or desk, and has two values: the cost (what you paid for it when you bought it) and its value or fair market value (what you could get for it if you sold it). The historical cost principle (also called the cost principle) states that virtually all business assets must be recorded as the value on the date the asset was bought or assumed ownership....
What Is a Credit Union? A credit union is a not-for-profit financial institution owned by members with common economic interests. For example, teachers may decide to form a credit union full of teacher-friendly investments, or people from a common location may decide to form their own credit union to borrow and lend money locally. Credit unions are set up as nonprofit entities, meant to provide affordable financial services to their members....
Even in the states with no car insurance requirement, it’s not good to forgo car insurance coverage, because those states don’t allow car owners to escape the costs of an accident. You might not get fined for driving without insurance, but you will be held liable for the costs if you are found to have been at fault. Pros and Cons of Not Having Car Insurance States With No Car Insurance Requirement There are just two states that don’t require car insurance: New Hampshire and Virginia....
Do an Interview Assessment Immediately after completing an interview, write up a summary of the questions you were asked along with your answers. This will preserve a record of your responses for future reference if you secure a follow-up interview. Also, note anything you wish you had said to your interviewer but didn’t get the opportunity to tell them. That way, if you get a second interview, you can make a note to mention these items....
If there is a quick correction, here are two useful statistics to note, according to Ryan Detrick, chief market strategist at LPL Research. First, the S&P 500 has only fallen into correction territory in less than a month (defined as 21 trading days) six times in its history, according to LPL’s analysis. (Had it not rallied at the end of the day, Monday would have been the seventh). Second, for each of those six times, it was up three months later, and on average, up 14....
The average rate offered to homebuyers using a conventional 30-year fixed mortgage edged up to 4.35% from 4.34% the previous business day, reaching a new high point since 2020. (Our daily mortgage rate data only goes back to April 2021, but our data on yearly highs and lows dates back to 2020, when it was as high as 4.71% in March and as low as 2.89% in December.) The average for a 15-year fixed mortgage rose to 3....
The average rate offered to homebuyers using a conventional 30-year fixed mortgage surged to 4.77% from 4.67% the previous business day, surpassing its 2020 high of 4.71%. The average for a 15-year fixed mortgage jumped to 3.93% from 3.82% the previous business day, closing in on its 2020 high of 3.99%. Both have rocketed up over half a percentage point in just the past week and a half. (Our daily mortgage rate data only goes back to April 2021, but our data on yearly highs and lows dates back to 2020, so we know the 30-year has surpassed the 2020 high, but just barely....
Pool / Pool/Getty Images “I am asking Congress to amend this bill and increase the ridiculously low $600 to $2,000—or $4,000 for a couple,” Trump said in a video released on his Twitter account. “I am also asking Congress to immediately get rid of the wasteful and unnecessary items from this legislation and to send me a suitable bill, or else the next administration will have to deliver a COVID relief package....
What Does the Department of Labor Do? The Department’s goal is to provide a productive workforce for the U.S. economy. It works to create attractive work environments by enforcing labor and pension laws. This keeps the U.S. competitive by strengthening one of the most important components of supply. By protecting the rights of workers, it attempted to replace the role of labor unions. One of the department’s most visible agencies, the Bureau of Labor Statistics (BLS), measures the performance of the labor force by providing important statistics, including the monthly jobs report....
The United States seems to have an economic crisis every 10 years or so. They are difficult to eradicate because their causes are different. But the results are always the same. They include high unemployment, near-bank collapse, and an economic contraction. These are all symptoms of a recession. But a financial crisis doesn’t have to lead to a recession if it’s addressed in time. Economic Crisis History These six crises help you recognize the warning signs of the next one....
America has the potential to export much more. Only 1% of U.S. businesses export. Top U.S. Exports The United States exports $1.65 trillion in goods, or two-thirds of all exports. Like most countries, the United States exports more goods than services. People can look, feel, and easily compare the value of both local and foreign goods. They are more careful when it comes to services. They prefer relying on local people they know and trust....
Renko charts are also easier to read, because the markers on them (called “bricks,” “boxes,” or “blocks”) are more uniform, compared with candlestick charts, which other traders prefer for following price movements. This simplification comes at a cost, though, as some price information is lost. Renko Bricks The most important step in creating Renko charts is setting the size of the brick. You may set it to $0.10 in the stock market or 10 pips in the foreign exchange (forex) market....
The P/E ratio can also help tell you whether the price is high or low, compared to other companies in the same sector. About the P/E Ratio The P/E ratio was used by the late Benjamin Graham. Not only was he Warren Buffett’s mentor, but he is also credited with coming up with “value investing.“ Graham preached the virtues of this ratio as one of the best ways to know whether a stock is trading on an investment basis or speculative basis....
Gas prices that were already on the rise jumped dramatically after Russia—the world’s third-largest petroleum producer—invaded Ukraine, prompting the U.S. to stop importing oil (which is used to make gasoline) from Russia. Households are reeling from sticker shock in all corners of their budget, with the overall inflation rate in February reaching 7.9%, the highest since 1982. “At a time when consumers are feeling the effects of the hottest inflation in four decades, the Russia-Ukraine war has added more fuel to the fire,” Lydia Boussour, lead U....
How a Bank Levy Works A bank levy is a legal action that allows creditors to take funds from your bank account. Your bank freezes funds in your account, and the bank is required to send that money to creditors to satisfy your debt. For a creditor to demand funds from your bank account, the creditor must provide a request to your bank showing proof of a legal judgment against you....
Conflict resolution skills are abilities that enable you to mediate disputes and achieve consensus. How Do Conflict Resolution Skills Work? Conflict resolution skills are required for a wide range of positions across many job sectors. This requirement is based on the fact that conflict tends to reduce productivity and create a difficult work environment, leading to unwanted turnover in staff and reduced morale. Individuals who can resolve conflicts are often excellent mediators, rational, and able to manage difficult personalities from a place of empathy....
The government that imposes each tax has a particular set of laws governing the amount and collection of that tax. Those laws and the type of tax determine how different tax systems work. That said, some key concepts generally apply across tax systems, such as: Tax base: The items or activities subject to a tax Tax rate: The percentage of a taxpayer’s tax base that is used to calculate the taxpayer’s tax liability Tax return: A form or series of forms filed by taxpayers with the government imposing the tax on which a taxpayer’s tax liability is calculated and tax payments are reconciled....
