Finance

At 75 the IRS Sets Withdrawals on a $900,000 401(k): The Strategy to Empty It First
A 24/7 Wall St. example describes a 62-year-old with $900,000 in a traditional 401(k). If the account is left untouched, the IRS begins setting required minimum distributions at 75, the age that applies to those born in 1960 or later. With 5% annual returns and 13 years to go, emptying it would require withdrawing about $91,250 a year, which would cost roughly 7% in federal tax today. Left intact, the account would grow to about $1.7 million by 75.
FinanceInternational24/7 Wall St.Nov 1AI
October deliveries by Chinese automakers: Xpeng tops 50,000 for the first time as Nio and Li Auto decline
Deliveries by China's major automakers and EV startups diverged in October. Xpeng delivered 50,237 vehicles, a monthly record, including 13,326 overseas. Nio delivered 34,246 units, its first year-on-year decline since February 2024, and Li Auto 29,025, its lowest since February. Leapmotor topped 100,000 for a fourth straight month and Xiaomi Auto delivered more than 50,000. BYD sold 490,168 new energy vehicles.
FinanceInternationalCnEVPostNov 1AI
BYD, Xiaomi and XPeng report strong October sales as year-end push begins
Tesla's Chinese rivals —BYD, Xiaomi and XPeng— reported strong October sales, according to Investor's Business Daily, as the traditional year-end sales push gets underway in China's auto market.
FinanceInternationalInvestor's Business DailyNov 1AI
De la Espriella government unveils "economic rescue law" with spending cuts and higher VAT
The government of Abelardo de la Espriella presented the "economic rescue law" to Congress, aimed at closing the fiscal gap through spending cuts and tax changes. According to Vice President José Manuel Restrepo, 70% of the adjustment will come from public spending and the state is promised to shrink by 15%. The law would improve public finances by COP 51 billion in 2027 and COP 122 billion in 2030. It includes eliminating VAT exclusions and exemptions, with a 19% rate for goods and services currently at 0% or 5%.
FinanceColombiaEl EspectadorNov 1AI
Morningstar: stocks rise more in November of election years than in non-election years
A Morningstar analysis of 100 years of U.S. stock returns found that stocks tend to rise more in Novembers of election years: 2.4% on average, versus 0.9% in non-election years. Strategist Dan Lefkovitz attributes the effect to elections ending uncertainty. BlackRock notes that annual returns tend to be weaker in midterm years, while Fidelity says the S&P 500 gains more in the 12 months after midterms.
FinanceInternationalUSA TodayNov 1AI
Winners and losers of the GLP-1 weight-loss drug boom in the global economy
The boom in GLP-1 weight-loss drugs is reshaping consumer habits and the corporate agenda. According to Gallup, about 38 million people in the United States were taking them in June, and PwC estimates around 5% of adults in the UK use them. Gyms, supplements and airlines see opportunities, while packaged food, fast food and fashion face falling spending. More than 200 listed companies outside healthcare mentioned these drugs in their quarterly earnings presentations.
FinanceInternationalLa RepúblicaNov 1AI
LATAM carried 759,659 passengers to and from Barranquilla between January and September 2026
LATAM Airlines Colombia said it carried 759,659 passengers to and from Barranquilla between January and September 2026, compared with 657,046 in the same period of 2025, an increase of close to 16%. Operations grew 21%, from 112 to 136 weekly round-trip flights, and the load factor rose from about 76% to 81%. The Bogotá route went from 48 to 51 weekly frequencies and Medellín from eight to 14. The airline flagged infrastructure priorities at Ernesto Cortissoz airport.
FinanceColombiaELHERALDO.COOct 31AI
Minagricultura outlines roadmap to rebuild Quibdó after the earthquake
The reconstruction of Quibdó after the August 10 earthquake is moving forward with four lines of support between the National Government and the Mayor's Office: demolitions, housing improvement, loans for small businesses and new housing. The update was presented by the special manager for Chocó's reconstruction, José Leonidas Tobón Torreglosa, and Mayor Rafael Antonio Bolaños Pino, 83 days after the quake. Fifty-seven demolition assessments have been issued and 908 homes are still awaiting evaluation.
FinanceColombiaELHERALDO.COOct 31AI
Tech stock meltdown could get much worse if history is any guide
The S&P 500 tech sector has seen six pullbacks of 10% or more since 2023, including the current one, and four of those plunges ranged from 14% to 27%, according to Truist's chief markets strategist. On Friday, the Nasdaq 100 fell 3.4%, the S&P 500 dropped 1.8% and its tech sector tumbled more than 4.2%, with more than $1 trillion in market value wiped out on concerns about the cash flow of Big Tech companies investing in AI.
FinanceInternationalYahoo FinanceOct 31AI
Only 19% of California households can afford a median-priced home
According to California Association of Realtors figures, only 19% of California households could afford a median-priced existing single-family home in the third quarter, unchanged from the previous quarter and a year earlier. Buying requires a minimum annual income of $228,000 and a monthly payment of $5,700, more than double the national average of $2,760. In Orange County, a typical home costs $1.47 million and requires an income of $374,400.
FinanceInternationalNew York PostOct 31AI
A 75-year-old Florida woman lost over $25,000 in a fake sweepstakes; a New York flight attendant was arrested
A 75-year-old Florida woman lost more than $25,000 after a call in which someone posing as a Publishers Clearing House representative told her she had won a prize. According to the Flagler County Sheriff's Office, Destiny Blake, 24, a New York-based flight attendant, was arrested on Oct. 23 at Miami International Airport and faces several felony charges, including defrauding a person over 65. She was released on a $30,000 bond.
FinanceInternationalAOL.comOct 31AI
Trump promised to slash energy costs, but gasoline, diesel and jet fuel rose instead
Donald Trump promised during his 2024 campaign to cut gasoline prices below $2 a gallon in his first year in office. According to GasBuddy, gasoline and diesel prices are forecast to be the highest ever on an election day: gasoline averaged $4.20 a gallon and diesel $6.32, up nearly 40% and 70% in a year. Prices spiked after the joint attack with Israel on Iran on Feb. 28 and the retaliation in the Strait of Hormuz.
FinanceInternationalCNBCOct 31AI
Colombia's central bank to buy US$2 billion from the government for international reserves
The board of Banco de la República authorized the direct purchase of 2 billion dollars from the Colombian government as a complement to its international reserves accumulation program. The operation will be executed before the end of 2026, through the Finance Ministry's Directorate General of Public Credit and National Treasury, at the exchange rate in force on the day of each operation. Governor Leonardo Villar said the decision comes amid high international uncertainty and that the country will be able to position itself at the midpoint of the IMF's recommended range.
FinanceColombiaLa PatriaOct 31AI
Colombia's central bank holds rate at 12.25% in split vote
The board of Banco de la República kept its interest rate at 12.25%, the highest level since March 2024. Four board members voted for stability and three for a 25-basis-point hike. Annual inflation rose to 6.29% in September from 6.24% in August, while core inflation eased to 6.07%. The board also cited weak economic activity and risks from the El Niño phenomenon and public finances.
FinanceColombiaEl ColombianoOct 31AI
Wealthy US investors say they need $2.6 million to retire
An online HSBC survey of 9,993 affluent and high-net-worth investors aged 21 to 69 shows they believe they need $2.6 million to retire comfortably, 26% more than a year ago and about double the $1.2 million that, according to Schroders, average Americans estimate. Yet they have saved on average only 52% of that goal: baby boomers 74%, Gen X 55%, Gen Z 45% and millennials 42%.
FinanceInternationalUSA TodayOct 31AI
The 2026 Economics Nobel recognizes a study on expectations and inflation
The Royal Swedish Academy of Sciences recognized the work of U.S. economists Robert Hall and Michael Woodford for a study titled "Microeconomic Foundations of Macroeconomic Stabilization." According to the piece, their work examines how the expectations of consumers, families and businesses regarding prices, income and savings help determine inflation in the medium and long term. The text links this approach to Colombia and to the independence of the Banco de la República's board since the 1991 Constitution.
FinanceInternationalEl PilónOct 31AI
Fenalcarbón warns of blackout risk in Colombia during its summit in Bogotá
The possibility of a blackout in Colombia was raised again with concern during the Colombian Coal Summit 2026, organized by Fenalcarbón in Bogotá on October 28 and 29. The event, focused on coal, devoted much of its agenda to the country's energy security. The concern is greater in the Caribbean region, especially in Cesar, where guaranteeing continuity of electricity service has become a problem with no apparent short-term solution.
FinanceColombiaEl PilónOct 31AI
El Cercado: from impounded water to a new economy for La Guajira
The El Cercado multipurpose project in La Guajira aims to supply aqueducts, develop irrigation districts and generate electricity. President De La Espriella instructed Agriculture Minister Indalecio Dangond to structure, with international cooperation, a financial mechanism to put it into operation. The connection to the Corral de Piedra plant was enabled, opening an alternative supply for more than 45,000 residents of San Juan del Cesar. Completing the Ranchería and San Juan del Cesar irrigation districts remains pending.
FinanceColombiaEl InformadorOct 31AI
Nariño launches formalization and training program for microentrepreneurs
Guild and government entities in Nariño announced a comprehensive support program for microentrepreneurs aimed at boosting economic growth and giving greater stability to the region's commercial sector. The initiative offers advisory services in financial management, digital innovation and business formalization processes, as well as fair spaces and business roundtables to connect regional producers with wholesale buyers. Beneficiary merchants highlighted the technical support to consolidate their productive units and generate formal employment.
FinanceColombiaDiario del SurOct 30AI
Federal judge lets McDonald's McRib lawsuit move forward
A federal judge in Chicago, April Perry, rejected McDonald's request to fully dismiss a proposed class action accusing the chain of misleading customers about the meat in its McRib. The ruling allows consumer deception, fraud and unjust enrichment claims to proceed and dismisses five other claims without prejudice. The plaintiffs, four consumers, allege the sandwich was designed to resemble a rack of pork ribs despite containing no rib meat. McDonald's denies the allegations.
FinanceInternationalFox BusinessOct 30AI