Dow drops nearly 650 points on worries that Trump’s latest tariffs will slow the economy more
By STAN CHOE, AP Business Writer
NEW YORK (AP) — U.S. stocks tumbled Monday and wiped out even more of their gains since President Donald Trump ’s election in November, after he said that tariffs announced earlier on Canada and Mexico would take effect within hours.
Trump says 25% tariffs on Mexican and Canadian imports will start Tuesday, with ‘no room’ for delay
By ZEKE MILLER, JOSH BOAK and ROB GILLIES, Associated Press
WASHINGTON (AP) — President Donald Trump said Monday that 25% taxes on imports from Mexico and Canada would start Tuesday, sparking renewed fears of a North American trade war that already showed signs of pushing up inflation and hindering growth.
Check your home insurance now, avoid regret later
I’ll never forget the water-filled light bulbs.
Weeks after Hurricane Floyd flooded the North Carolina towns of Princeville and Tarboro in 1999, I made a reporting trip there to find out how residents were coping. A man escorted me inside his single-story house, which had been submerged for days under water the height of a basketball hoop. As we stood under the kitchen chandelier (his table had floated into the living room), he reached up to tap the light fixture’s flame-shaped bulbs. Water had displaced the gas inside.
The man was happy to salvage his framed, water-stained army discharge certificate. But as for the ruined house, he doubted his insurance would pay the full cost of rebuilding.
Being underinsured still happens more often than you think. In fact, there’s a good chance you have insufficient homeowners insurance coverage. You can fix that, and protect yourself financially, by shopping for home insurance carefully and making a few phone calls. Here’s how.
Beware undercoverage
The core of your home insurance policy is dwelling coverage: the part of the policy that will pay to repair or rebuild your home. The policy specifies the maximum amount it will pay. Watch out, because your dwelling coverage limit could be too low.
FPL asks state regulators for nearly $9 billion rate hike over 4 years
Florida Power & Light, the state’s largest utility, is seeking a nearly $9 billion hike to customers’ base rates over four years, a sum that affordability advocates said represents the largest rate hike request in U.S. history.
Base rates are a major component of electricity bills that also include other charges for things like hurricane repairs and fuel. Above that $9 billion, the company would also be able to add more hikes for solar and battery facilities it constructs during the period.
As part of the request, which was filed to state regulators Friday, the company is seeking a rate of shareholder profit with a midpoint of 11.9% — well above the national average. It’s also higher than the profit rate sought by Tampa Electric last year, which the Legislature-appointed public advocate called “egregious” and “crushing” to customers.
“Rather than finding a fair balance between the needs of customers and their own operations, FPL has chosen to prioritize profit margins,” said Zayne Smith, senior director of advocacy at AARP Florida, which represents residents over 50. “This decision threatens to place undue financial strain on households already grappling with rising living costs.”
Guide to no-down-payment mortgages: Am I eligible?
By Andrew Dehan, Bankrate.com
If you qualify for a no-down-payment mortgage, you could get a loan for the full purchase price of a home. Here’s what you need to know.
A no-down-payment mortgage doesn’t require you to make a down payment at closing. With rising home prices, it’s more and more difficult for many buyers to save up for the upfront costs of homeownership. No-down-payment loans eliminate one of the biggest upfront costs.
One-fifth (20%) of aspiring homeowners believe they won’t ever be able to save enough to buy a home, according to Bankrate’s 2025 Down Payment Survey.
The two most prominent no-down-payment mortgages are VA and USDA loans.
VA loans
If you’re a military service member, veteran or surviving spouse, you might qualify for a VA loan guaranteed by the U.S. Department of Veterans Affairs (VA). Unlike a conventional loan, VA loans don’t typically require a down payment, and they don’t charge mortgage insurance. However, you will pay a funding fee, either at closing or by financing it into your mortgage. This fee ranges from 1.25% to 3.3% of the loan amount, and it varies depending on the down payment amount and whether you’ve used a VA loan before. Those who don’t make a down payment, as well as repeat VA loan applicants, pay higher funding fees.