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UPS announces it will cut 12K jobs

UPS will cut 12,000 jobs and released a revenue outlook for this year that sent its shares down sharply.

US mortgage rates reach highest level in over two decades

Freddie Mac said the average rate on a 30-year home loan reached its highest level since 2002, which could increase costs for borrowers by hundreds of dollars a month.

US credit rating downgraded for only second time in history

Fitch Ratings has downgraded the United States government’s credit rating, citing rising debt and a “steady deterioration in standards of governance” over the past two decades.

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