Netflix to Charge $7 for Streaming with Ads, Ways to Improve Your Credit Score, and More Business News ICYMI

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Confusion surrounds President Biden’s student loan cancellation plan as demand is expected to open any day. Cheddar News explains the changes that leave borrowers scratching their heads over the process.



Presentation Business Briefsan all-encompassing look at this week’s top business news from The Associated Press, with a particular spotlight on domestic businesses and the economy.

Small business group files lawsuit against Biden’s student loan plan

WASHINGTON (AP) — A small business advocacy group has filed a new lawsuit seeking to block the Biden administration’s efforts to forgive student loan debt for tens of millions of Americans. The lawsuit, filed Monday by the Job Creators Network Foundation, argues that the Biden administration violated federal procedures by failing to seek public input on the program. He also argues that the program is arbitrary, benefiting some borrowers but not others. It’s one of the few lawsuits filed by conservative business groups, lawyers and Republican lawmakers in recent weeks as the Biden administration tries to push forward its plan to write off billions of debts before the November midterm elections.

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Labor proposal could shake up rules for gig workers and businesses

The US Department of Labor releases a new proposal on how workers should be classified, saying thousands of people have been incorrectly labeled as contractors rather than employees, which could restrict access to benefits and to the protections they rightly deserve. The department said Tuesday that misclassifying workers as independent contractors denies these workers protection under federal labor standards, promotes wage theft, allows some employers to gain an unfair advantage over companies and harms the economy. Shares of major gig companies such as Uber and Lyft have fallen.


Labor proposal could shake up rules for gig workers and businesses

The US Department of Labor releases a new proposal on how workers should be classified, saying thousands of people have been incorrectly labeled as contractors rather than employees, which could restrict access to benefits and to the protections they rightly deserve. The department said Tuesday that misclassifying workers as independent contractors denies these workers protection under federal labor standards, promotes wage theft, allows some employers to gain an unfair advantage over companies and harms the economy. Shares of major gig companies such as Uber and Lyft have fallen.

6 tips you can use to improve your credit score

NEW YORK (AP) — Credit scores are complicated, so the process of improving can be different for everyone. The experts have some tips on how you can get started if you need to improve your credit score. The first step is to know your score and what appears in your credit report. If you have credit cards, you should use them, but don’t max them out. If you can’t pay off your card every month, even small payments will help improve your score. And if you don’t have a credit history, you can get started safely with secured cards that help you avoid overspending.


6 tips you can use to improve your credit score

What the U.S. Vet Price Spike Reveals About Inflation

WASHINGTON (AP) — Most pets hate visiting the vet. Now it also becomes much more unpleasant for their owners. The worst bout of inflation in the United States in four decades has inflated the cost of visiting your dog or cat with the animal doctor. Prices for veterinary services have jumped 10% in the past year, government data shows – the biggest such spike in two decades. Soaring costs for veterinary services illustrate how high inflation has spread far beyond physical goods, such as cars, which have become scarce as the economy accelerated after the pandemic recession, to many services of which pet care is an example.


What the U.S. Vet Price Spike Reveals About Inflation

Social Security payments are expected to increase significantly. What there is to know.

NEW YORK (AP) — Tens of millions of older Americans are about to get what could be the biggest raise of their lives. On Thursday, the US government is set to announce what is virtually certain to be the biggest increase in Social Security benefits in 40 years. The boost is intended to allow recipients to keep up with inflation, and there is much controversy over how it is generated. Critics say the data used to peg the increase doesn’t reflect what older Americans are actually spending. It’s also a one-time increase, meaning recipients get the same increase no matter where they live or how big their nest egg is.


Why Social Security Checks Are About To Get Much Bigger

Netflix sets monthly price of $7 for its ad-supported service

SAN RAMON, Calif. (AP) — Netflix will unveil the first version of its video streaming service with ads next month. The move will give cost-conscious viewers the chance to watch most Netflix shows at a great discount in exchange for incurring commercial interruptions. The ad-supported service is set to debut on November 3. It comes as Netflix attempts to reverse a drop in subscriber numbers. It will cost $7 per month in the US. That’s a 55% discount from Netflix’s most popular $15.50 per month plan, which doesn’t include ads. The advertising option will also be available in 11 other countries. Subscribers who choose the cheapest plan will not be able to download shows offline.


Netflix sets monthly price of $7 for its ad-supported service

As the causes of US inflation grow, so do the dangers

WASHINGTON (AP) — What’s keeping inflation so high? The answer, it seems, is almost everything. Supply chain grunts and parts shortages inflated the cost of factory goods when the economy surged out of the pandemic recession two years ago. Then it was an increase in consumer spending fueled by federal stimulus checks. Then, Russia’s invasion of Ukraine disrupted gas and food supplies and sent those prices skyrocketing. Since March, the Federal Reserve has been aggressively raising interest rates in an attempt to quell the price spikes. So far, there are few signs of progress. Thursday’s September consumer price report came in hotter than expected.


As the causes of US inflation grow, so do the dangers

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