Money
Associated Press/Photo by Rich Pedroncelli

Winning lottery ticket worth $1.537 billion

by Rachel Lynn Aldrich
Posted 10/24/18, 11:12 am

A ticket bought in South Carolina won the Mega Millions lottery on Tuesday with a final prize of $1.537 billion, lottery officials said. The total is lower than the original estimate of $1.6 billion and comes in just shy of the all-time record from 2016. The winning ticket is worth about $877.8 million in a lump-sum cash payment, which most winners take instead of collecting the full amount in annual payments over three decades. South Carolina is one of the eight states where winners can remain anonymous. Whoever bought the ticket hasn’t claimed the prize yet.

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Associated Press/Photo by Richard Drew

Stocks close lower as Fed raises interest rates

by Rachel Lynn Aldrich
Posted 9/27/18, 11:23 am

U.S. stocks briefly dipped Wednesday after the Federal Reserve raised short-term interest rates by a quarter point, but the markets made new gains Thursday shortly after opening. Fed policymakers said they expect to raise the interest rate a fourth time later this year and three times next year to keep a check on inflation in the strengthening U.S. economy.

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Ricardo Arduengo/AFP/Getty Images

Island in crisis

Puerto Rico | After a hurricane and years of overspending, budget-strapped politicians in Puerto Rico are sparring with feds for a big-time bailout
by Marvin Olasky
Posted 4/12/18, 11:17 am

Strike one: Puerto Rico last May, $123 billion in debt, became the first U.S. state or territory to admit it is essentially bankrupt. Strike two: Hurricane Maria last September ravaged the island. Strike three: Early this month Puerto Rico Gov. Ricardo Rosselló rejected the plan of a federal oversight board appointed to rein in the free-spending tendencies of territorial politicians.

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