[Fox Business] Kia recalls over 427K vehicles that could roll away while in park

Kia is recalling more than 427,000 vehicles in the U.S. that have the potential to move while they are in park. 

The warning, posted by the National Highway Traffic Safety Administration, covers all Telluride vehicles manufactured between 2020 and 2023 as well as some 2024 models. 

NHTSA warned that the intermediate shaft and right front driveshaft on the vehicles “may not be fully engaged due to suspected improper assembly by the supplier.” 

MORE THAN 3.7M CARS ON THE ROAD HAVE ‘PARK OUTSIDE’ RECALLS, CARFAX SAYS

Over time, the “partial engagement can cause damage to the intermediate shaft splines” which could “result in unintended vehicle movement while in park if the parking brake is not engaged,” according to NHTSA.  

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The recall was initiated following a “review of vehicle and supplier production records,” according to regulators. 

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Customers who are looking for information about their specific vehicle will be referred to Kia’s Customer Care Center or a Kia dealer. 

This marks the latest in a growing list of recalls across the auto industry. It comes shortly after Kia America recalled 48,232 vehicles, alongside Hyundai, for damaged charging units.  

FOX Business reached out to Kia for comment on the latest recall.

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[Fox Business] Read these 3 books about the stock market to get started on your investing journey

The stock market can be a very difficult place for beginners to navigate. Before you start investing your money, you should have a fairly good understanding of how the stock market works. 

Investing can be a way for your money to make money for you. That said, you work hard for the money you earn, and investing in the stock market without proper knowledge can cost you. 

There are many resources out there to give you the knowledge you need to be confident in the investments you make. Books are one of many resources to explore.

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Over the years, there have been numerous books written about the ins and outs of the stock market, and they all take different approaches. Some take a very data-driven approach, while others are more psychology and behavior-based. Certain books cover short-term investing, while others are more focused on the long-term growth of your money. 

If you have never invested a dime before, or have just begun investing and want to know more, these are three books that will help you get a better understanding of how the stock market works. 

If you have no idea how the stock market works or what the first steps you should take are, this book is for you. 

Think of “A Beginner’s Guide to the Stock Market” by Matthew R. Kratter as a “how-to” guide to investing. This book will answer all the questions you have and provide you with clear instructions on how to get started in the stock market.

Throughout this book, you’ll learn how to open a brokerage account, how to purchase your first stock, how to earn a passive income in the stock market, how to choose stocks and more.

“The Intelligent Investor” was written by Benjamin Graham in 1949 but remains one of the most popular stock market books to date.

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This book covers value investing, which is an approach that targets undervalued stocks that could perform well in the long term. This is not a short-term strategy, but instead teaches investors how their money can grow over a long period of time. 

Even though this book was written in 1949, a lot of the concepts put forth by Graham can still be applied today. That said, there was a revision published in 2006 so the book better reflects a modern market. 

The revised edition of the classic business book offers commentary by financial journalist Jason Zweig. 

“The Psychology of Money” is slightly different from the others on this list. This book was published in 2020 by Morgan Housel.

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This book is more of a lighter read than many other money-based books. It focuses more on individuals’ behaviors and financial decisions, rather than math and data.

As a stock market novice, it’s easy to get tangled up in the math and data. The style of this book is easy to digest, while still teaching about investing and money management in general. 

Through the 19 different stories presented in the 19 chapters of this book, Housel is able to teach readers how to have a better relationship with money and finances.

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[Fox Business] 136-year-old kosher food brand Manischewitz debuts ‘eye-catching’ makeover ahead of Passover

An iconic food brand at the center of many Jewish families’ Passover celebrations just got a new makeover.

Manischewitz, the 136-year-old leading kosher company, has unveiled a new logo, packaging, and some new products.

Reportedly aiming to appeal to a young audience while maintaining its commitment to a family and friends mentality, the rebrand features modern typography while using bright oranges, yellows and reds to pop out on store shelves.

“People have been purchasing the Manischewitz food products for generations,” Shani Seidman, CMO of Kayco, parent company of Manischewitz, told the Jewish Journal on Wednesday. “We wanted [Manischewitz] to still look and feel familiar, and it does, but the colors and graphics are now as warm and delicious as the food we make.”

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“We hope the update will expand the reach to a younger Jewish audience, as well as everyone who is curious about Jewish food,” Seidman also said. “We want to invite Jews young and old and non-Jews to take a walk down the kosher aisle.”

Another noticeable change within the refreshed look includes joyful caricatures that give a unique personality to each product’s packaging.

The new branding is set to be featured on their mainstay products including matzah, matzah meal, matzah ball soup, gefilte fish, chicken broth, macaroons, egg noodles and more. Manischewitz’ new products include a grapeseed oil, gluten-free options and freezer section items.

“We are very excited about our debut into the frozen category, and this year, people can find kosher for Passover and gluten-free frozen matzah balls and frozen knishes,” Seidman told the Journal.

TikTok creator and consumer brand analyst Nate Rosen took to the platform to voice his first impressions.

“Who wouldn’t stop and look at this in a grocery store? This is so eye-catching,” Rosen said in his review video. “Even though it feels new and fresh, it also feels really familiar. I, for one, am very excited to see other consumers find and discover this brand.”

“It’s a brand that I grew up with and have a lot of nostalgia for,” he added, “and I’m really excited to see it get this revitalization and a second life.”

The minds behind the design overhaul come from agency Jones Knowles Ritchie (JKR), which has worked with other food and beverage brands like Stella Artois, Budweiser, Fanta, Hippeas, Burger King and Dunkin’ Donuts.

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“Manischewitz holds a special place not only in Jewish culture, but American culture. Simply mentioning the brand immediately evokes thoughts of Jewish cuisine, although people may not have had a clear visual of what it looked like,” JKR global executive creative director Lisa Smith was quoted in the Jewish Journal.

“This presented an opportunity to establish a distinct brand identity that not only extends the understanding of Jewish culture through food but also beckons the mass-market consumer base to embrace a new category that goes beyond the confines of the Jewish-food section.”

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[Fox Business] Today’s 30-year mortgage rates hold steady | March 29, 2024

The interest rate on a 30-year fixed-rate mortgage is 7.000% as of March 29, which is unchanged from yesterday. Also, the interest rate on a 15-year fixed-rate mortgage is 6.000%.

With mortgage rates changing daily, it’s a good idea to check today’s rate before applying for a loan. It’s also important to compare different lenders’ current interest rates, terms, and fees to ensure you get the best deal. 

Rates last updated on March 29, 2024. Rates are based on the assumptions shown here. Actual rates may vary. Credible, a personal finance marketplace, has 5,000 Trustpilot reviews with an average star rating of 4.7 (out of a possible 5.0).

When you take out a mortgage loan to purchase a home, you’re borrowing money from a lender. In order for that lender to make a profit and reduce risk to itself, it will charge interest on the principal — that is, the amount you borrowed.

Expressed as a percentage, a mortgage interest rate is essentially the cost of borrowing money. It can vary based on several factors, such as your credit score, debt-to-income ratio (DTI), down payment, loan amount, and repayment term.

After getting a mortgage, you’ll typically receive an amortization schedule, which shows your payment schedule over the life of the loan. It also indicates how much of each payment goes toward the principal balance versus the interest.

Near the beginning of the loan term, you’ll spend more money on interest and less on the principal balance. As you approach the end of the repayment term, you’ll pay more toward the principal and less toward interest.

Your mortgage interest rate can be either fixed or adjustable. With a fixed-rate mortgage, the rate will be consistent for the duration of the loan. With an adjustable-rate mortgage (ARM), the interest rate can fluctuate with the market.

Keep in mind that a mortgage’s interest rate is not the same as its annual percentage rate (APR). This is because an APR includes both the interest rate and any other lender fees or charges.

Mortgage rates change frequently — sometimes on a daily basis. Inflation plays a significant role in these fluctuations. Interest rates tend to rise in periods of high inflation, whereas they tend to drop or remain roughly the same in times of low inflation. Other factors, like the economic climate, demand, and inventory can also impact the current average mortgage rates.

To find great mortgage rates, start by using Credible’s secured website, which can show you current mortgage rates from multiple lenders without affecting your credit score. You can also use Credible’s mortgage calculator to estimate your monthly mortgage payments.

Mortgage lenders typically determine the interest rate on a case-by-case basis. Generally, they reserve the lowest rates for low-risk borrowers — that is, those with a higher credit score, income, and down payment amount. Here are some other personal factors that may determine your mortgage rate:

Other indirect factors that may determine the mortgage rate include:

Along with certain economic and personal factors, the lender you choose can also affect your mortgage rate. Some lenders have higher average mortgage rates than others, regardless of your credit or financial situation. That’s why it’s important to compare lenders and loan offers.

Here are some of the best ways to compare mortgage rates and ensure you get the best one:

One other way to compare mortgage rates is with a mortgage calculator. Use a calculator to determine your monthly payment amount and the total cost of the loan. Just remember, certain fees like homeowners insurance or taxes might not be included in the calculations.

Here’s a simple example of what a 15-year fixed-rate mortgage might look like versus a 30-year fixed-rate mortgage:

If you’re thinking about taking out a mortgage, here are some benefits to consider:

And here are some of the biggest downsides of getting a mortgage:

Requirements vary by lender, but here are the typical steps to qualify for a mortgage:

Here are the basic steps to apply for a mortgage, and what you can typically expect during the process:

Refinancing your mortgage lets you trade your current loan for a new one. It does not mean taking out a second loan. You will also still be responsible for making payments on the refinanced loan.

You might want to refinance your mortgage if you:

The refinancing process is similar to the process you follow for the original loan. Here are the basic steps:

If you need to tap into your home’s equity to pay off debt, fund a renovation, or cover an emergency expense, there are two popular options to choose from: a home equity loan and a home equity line of credit (HELOC). Both a home equity loan and a HELOC allow you to borrow against your home’s equity but a home equity loan comes in the form of a lump sum payment and a HELOC is a revolving line of credit.

These two loan types have some other key similarities and differences in how they work:

Interest rates on mortgages fluctuate all the time, but a rate lock allows you to lock in your current rate for a set amount of time. This ensures you get the rate you want as you complete the homebuying process.

Mortgage points are a type of prepaid interest that you can pay upfront — often as part of your closing costs — for a lower overall interest rate. This can lower your APR and monthly payments. 

Closing costs are the fees you, as the buyer, need to pay before getting a loan. Common fees include attorney fees, home appraisal fees, origination fees, and application fees.

If you’re trying to find the right mortgage rate, consider using Credible. You can use Credible’s free online tool to easily compare multiple lenders and see prequalified rates in just a few minutes.

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[Fox Business] Kohl’s Rewards program: Shop and save with Kohl’s Cash

Through the retailer’s loyalty rewards program, every dollar a Kohl’s shopper spends can earn them a 5% reward toward a future purchase. More than 30 million customers are enrolled in the Kohl’s Rewards program, which offers members Kohl’s Cash® for each purchase. 

The most recent rewards program was launched in September 2020 and modified in May 2022. It is an evolution from the previous Yes2You Rewards program, which offered shoppers points on purchases. 

Kohl’s is a retailer based in Menomonee Falls, Wisconsin, known for offering affordable prices on clothing, shoes, toys, home decor and more. 

Through the Kohl’s Rewards program, in-store and online customers accumulate rewards on each purchase, including transactions at the in-store Sephora. After enrolling in the program, members earn a 5% reward on all future purchases when using any form of payment and 7.5% with a Kohl’s Card, regardless of the means of payment. Membership benefits are not contingent on paying with a Kohl’s credit card. Once their rewards are converted into Kohl’s Cash and deposited into their accounts, customers have a 30-day period to use it.

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Kohl’s Cash is the currency of Kohl’s Rewards, issued as either paper or digital coupons, depending on the customer’s shopping method. Every $50 spent in-store during designated earning periods can result in a $10 reward in Kohl’s Cash, even for non-members. Beyond these periods, rewards members continuously profit as they receive 5% back for each dollar they spend at Kohl’s, distributed in $5 increments of Kohl’s Cash coupons.

At Sephora locations within Kohl’s, rewards program members can earn Kohl’s Rewards points while simultaneously earning Sephora Beauty Insider points. To make the shopping experience easier, they can also link their Kohl’s and Sephora accounts. 

For each Sephora purchase made within a Kohl’s retail store or online, members of both rewards programs earn:

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Kohl’s loyalty program members receive an additional discount on their birthday, but the savings will vary. The discount received will be applied to the existing savings, including price matching, Kohl’s Cash and any other sale price applied to the purchased items.

Kohl’s Rewards program members can track their balance in various ways. For in-store purchases, the balance is reflected directly on the shopping receipt. Additionally, Kohl’s proactively sends email reminders for any available Kohl’s Cash. 

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The free Kohl’s app offers the shopper an account overview, including a rewards balance, and also doubles as a virtual wallet for Kohl’s Cash and any available coupons. The app includes a price scanner for in-store shopping and the ability to pay through the app with stored payment methods.

Members can spend their Kohl’s Cash when available in their account. The company will email the customer when the rewards are available. The member’s existing balance is distributed in $5 increments on the first day of the following month. Once it becomes available, the member has 30 days to spend it, or they will lose it. 

Although there are a few exceptions to what Kohl’s Cash can buy, members can redeem it for almost anything they want from the retailer. The Kohl’s Cash coupons are not redeemable on Sephora purchases. It is redeemable in-store, online or through the Kohl’s app.

The company’s former version of its rewards program, Yes2You, does not exist anymore. Kohl’s Yes2You Rewards points were automatically converted into the new rewards program, and therefore, those points no longer exist as Yes2You Rewards.

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Enrolling in the Kohl’s Rewards loyalty program is a simple process that can be done in-store or online. In-store customer service staff can assist with the signup. Alternatively, online shoppers can register at the Kohls website. After joining, members can seamlessly connect their Kohl’s Rewards account with their existing kohls.com shopping account.

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[Fox Business] Key Fed inflation gauge, consumer spending rise in February

A key inflation gauge watched closely by the Federal Reserve climbed on an annual basis in February.

The personal consumption expenditures price index (PCE) headline figure rose 2.5% last month, in line with expectations. On a monthly basis, prices rose 0.3%, slightly below the estimate of economists surveyed by LSEG.

Excluding food and energy, prices rose 2.8% annually in February and 0.3% from the prior month. Both figures were in line with expectations.

Consumer spending spiked 0.8% last month, up from the 0.2% increase in January.

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