After the economy “got off to a bumpy start,” the World Bank has cut its global growth forecast.
The United States forecast has been dropped from 2.8% to 2.1% while 2015 remains unchanged.
The World Bank does believe, however, that “growth is expected to pick up speed as the year progresses.”
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Drivers may be paying higher auto insurance premiums based on their credit scores.
A study by WalletHub.com finds that there is a 65% difference in insurance costs between those with high credit scores and those with low credit scores.
State law in California, Hawaii, and Massachusetts outlaws insurance providers from using credit score as a determinant, but it is a regular practice in the other states.
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Colorado Governor John Hickenlooper signed legislation proposing to create a financial bank for the newly legal marijuana business in the state.
Banks do not currently work with marijuana businesses, as the drug is stilled banned by federal law. The new legislation would put in place checking systems so that marijuana businesses do not have to only deal in cash.
Image by World Economic Forum via Wikimedia Commons.
Agnik is a Big Data analytics company assisting mostly in the insurance and automotive industries.
The company has recently announced that it has partnered with Liberty Mutual Insurance, giving its customers savings on Liberty Mutual home and auto insurance.
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A study by the Colorado Hospital Association shows that hospitals are saving millions in states that have expanded Medicaid coverage under the Affordable Care Act.
On average, in states that expanded coverage, there was a $0.9 million decrease in charity care cost. In states that did not expand, charity care cost increased by $0.4 million on average.
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General Motors recently recalled 2.6 million of its Chevrolet Cobalt model due to a an ignition problem.
The automobile insensitively sent recall notices to the families of victims of accidents from the model.
GM spokesman Greg Martin said that GM is “deeply sorry to those families who received a recall notice.”
Image via Twitter/GM
The minimum wage in Seattle is set to increase to $15 an hour, making it the highest in the United States.
The Seattle City Council unanimously passed legislature to raise minimum wage from the Washington state minimum of $9.32 to $15.
Federal government mandates at least $7.25 an hour.
Image via Wikimedia Commons.
Golf star Phil Mickelson is reportedly being investigated by the FBI and SEC for possible insider trading.
Investigators are looking into Mickelson and gambler William Walters and their involvement with billionaire investor Carl Icahn.
Icahn and Mickelson both deny any involvement with each other. The investigation has been ongoing for over three years.
Image via Twitter/MickelsonHat
The second-largest bank in the United States may find itself paying over $12 billion to settle government probes.
Bank of America Corp faces probes over shoddy mortgages prior to the financial crisis. It is reported that at least $5 billion of the $12 billion settlement would go toward consumer relief.
Neither Bank of America or the United States Department of Justice agreed to comment on the settlement.
Image by Brian Katt via Wikimedia Commons.
After security breaches like one of the magnitude of the Target scandal, MasterCard is making strides to make its cardholders feel safer.
The credit and debit card company is extending its zero-liability protection to all PIN-based and ATM transactions, taking effect in October. The protection currently only protects transactions made by signature, leaving a cardholder vulnerable if a thief gets a hold of his or her personal identification number.
Image via Twitter/MasterCard