You also want to carefully look at the HISA terms and conditions. Some may require you to keep a minimum balance, charge fees on transactions, limit withdrawals, or enforce lock-in periods.
Look to take advantage of cash signing bonuses or higher promotional rates, but also keep in mind that the long-term interest rate is more important than a short-term introductory rate.
Savings account vs. chequing account
Chequing and savings accounts are two of the many products offered by financial institutions. While they share some similarities, there are a few differences. Generally speaking, chequing accounts are used for everyday banking transactions while savings accounts are designed to help you reach longer-term goals by offering interest on your deposits without monthly fees. As a third option, hybrid accounts are an increasingly popular choice for those seeking the perks and features of chequing and savings accounts in a single package. Let’s take a closer look.
What is a savings account?
There are different types of savings accounts, each with their own specific terms. But in general, these accounts are where you put money while working towards a financial goal. Savings accounts do not typically have monthly fees, and you are paid interest on your deposits. Depending on the type of savings account you have, you may be able to use the money in it to make everyday purchases but usually you will have to transfer the money into your chequing account first. You cannot write a cheque from a savings account.
What is a chequing account?
As the name suggests, you can write cheques against a chequing account, and you might receive your paycheque into this account as a direct deposit. While writing a physical cheque isn’t as popular as it once was, “chequing” accounts are still around. As they are used for everyday transactions, these accounts are accessible from ATMs, at tellers, online and apps. This type of account is where you store money you intend to spend on routine transactions, including Interac e-Transfer, bill payments, withdrawals, deposits, pre-authorized payments and point-of-purchase payments, like using your debit card at a store.
The best of both worlds—the hybrid account
Hybrid bank accounts combine the interest of a savings account with the flexibility of a chequing account—all for low or no fees. Money in this kind of account earns interest but it can also be accessed for purchases, pay bills, buy money transfers, make Interac e-Transfer transactions and so on. For those who want to simplify how they bank, a hybrid account could be the solution. Note that not all banks offer hybrid accounts, so you may have to shop around.
What kind of account is my money in?
After reading the above options, you might be wondering what kind of account you have already. The easiest way to find out is to call or visit your bank. Speaking with a banking teller can clarify your current structure and give you the opportunity for help should you want to make a change or move your money.
Other types of savings accounts
A standard HISA is a very safe and secure way to squirrel away some money and earn a small amount of interest in the meantime. For medium or long-term savings, Canadians should consider holding their HISA in one of two types of registered plans that will help mitigate the amount of tax you will owe on your interest earnings.
GICs are guaranteed, which is one of the reasons why they are such a popular investment. These protections are many-fold, starting with the guarantee of the financial institution they are purchased from. They are legally obligated to return to you your initial investment plus interest (depending on the product you choose).
But what happens if the financial institution goes belly-up? Then the next level of protection kicks in: Many GICs are protected by the Canada Deposit Insurance Corporation (CDIC) but some—particularly those purchased through credit unions—carry coverage through provincial organizations. The CDIC covers typically up to $100,000 on deposits with terms of less than five years, and does not cover foreign currency GICs.
Provincial insurers vary by province. Insurers in Alberta, British Columbia, Manitoba and Saskatchewan cover all deposits accepted by the institution with no maximum. In Quebec, savings and GICs of up to $100,000 are covered, plus RRSPs with a $100,000 limit in Quebec. In Ontario, savings of up to $250,000 are covered, while registered accounts (including RRSPs, TFSAs and RESPs) are fully covered. In New Brunswick, Nova Scotia and Newfoundland and Labrador, savings, GICs, and RRSPs of up to $250,000 are covered and in Prince Edward Island the insurer protects savings and GICs of up to $125,000 and unlimited RRSPs.
How can I purchase a GIC?
GICs are available from banks and other providers. But before you contact a GIC issuer, it’s important to decide how much you’d like to invest. Minimum investments can range from $100 to $5,000, depending on the institution. So the amount you’d like to invest will narrow down your options. Then, shop around for a variable or fixed rate and decide on the accessibility and flexibility you wish for the funds. Finally, once have your requirements of a GIC noted, contact the financial institution and provider of your choosing to start the process of purchasing.
Online/by phone
You will either have an existing account setup with the financial institution or will have to submit an application and pieces of identification to verify your identity, including your Social Insurance Number (SIN). Once the account is created and linked to your primary funding source (like a chequing account), the principal investment is withdrawn and the GIC is issued. The rate table above can connect you to some of the top options in Canada right now.
In-person
You can also go into a branch to purchase a GIC. Once again, the process is easier if you already have a profile set up with the financial institution; but if not, you’ll need to make an appointment with pieces of ID, including your SIN, complete an application and follow the institution’s process to fund and issue your GIC.
Deposit brokerage
Deposit brokerages help you do the research and are tuned into the best options on the market today. They are also aware of insurance protections to ensure your investment is covered if the issuer goes bankrupt. They work with multiple banks, so you can dig through an assortment of rates and terms to find the option that works best for your needs. The broker is paid by the financial institution. Consumers should always pay the financial institution directly—not the broker. As brokers often bring multiple consumers’ investments to banks, those consumers are sometimes able to benefit from better rates—similar to the benefits of shopping in bulk.
Are GICs the right investment for me?
GICs never give you the highest investment return compared to something riskier, like exchange-traded funds (ETF) or individual stocks, but they are a safe way to ensure your principal and interest are protected. Depending on the GIC purchased, it can also lock away money you may need for some time, so it’s important to pick the correct term to ensure you can access your money when you need it; and shop around for a competitive interest rate. Keep in mind that if a GIC’s return is lower than the rate of inflation, your money could end up having less purchasing power at the end of your term than at the beginning.
The Supreme Court said Monday it will hear two cases seeking to hold social media companies financially responsible for terrorist attacks. Relatives of people killed in terror attacks in France and Turkey had sued Google, Twitter and Facebook, accusing the companies of helping terrorists spread their message and radicalize new recruits.
The court will hear the cases this term, which began Monday, with a decision expected before the court recesses for the summer, usually in late June. The court did not say when it would hear arguments, but the court has already filled its argument calendar for October and November.
One of the cases the justices will hear involves Nohemi Gonzalez, a 23-year-old U.S. citizen studying in Paris. The Cal State Long Beach student was one of 130 people killed in ISIS attacks in November 2015. The attackers struck cafes, outside the French national stadium and inside the Bataclan theater. Gonzalez died in an attack at La Belle Equipe bistro.
Her friend, Cal State student Niran Jayasiri, may have been the last to see Gonzalez alive, standing next to her at the café as a terrorist opened fire.
Nohemi Gonzalez
“First I thought it was firecrackers because it sounded like firecrackers,” Jayasiri told CBS News in 2015. “When I looked into the direction where the noise was coming, I saw a gunman just walking on the sidewalk, just shooting everybody.”
Gonzalez’s relatives sued Google, which owns YouTube, saying the platform had helped the Islamic State of Iraq and Syria, or ISIS, by allowing it to post hundreds of videos that helped incite violence and recruit potential supporters. Gonzalez’s relatives said that the company’s computer algorithms recommended those videos to viewers most likely to be interested in them.
But a judge dismissed the case and a federal appeals court upheld the ruling. Under U.S. law — specifically Section 230 of the Communications Decency Act — internet companies are generally exempt from liability for the material users post on their networks.
The other case the court agreed to hear involves Jordanian citizen Nawras Alassaf. He died in the 2017 attack on the Reina nightclub in Istanbul where a gunman affiliated with ISIS killed 39 people.
Alassaf’s relatives sued Twitter, Google and Facebook for aiding terrorism, arguing that the platforms helped ISIS grow and did not go far enough in trying to curb terrorist activity on their platforms. A lower court let the case proceed.
Cruising is back, but many travelers are still reluctant to board ships alongside thousands of other travelers. Cruise insurance has you covered if:
You need to be reimbursed for canceling your trip.
Your flight to the port gets delayed.
You need to pay for medical care if you get sick on board.
You need to fly home in case of an emergency.
Of course, there’s much more than just this list that cruise insurance can cover.
No matter the reason you might be looking for coverage, here are some of the best cruise insurance companies available to help bring you peace of mind on your next experience at sea.
What to look for in cruise insurance
When shopping for cruise insurance, make sure to look for coverage that offers the following:
Trip delay and cancellation.
Medical expenses, including emergency evacuation.
The option to cancel for any reason (including COVID-19).
Adventure activities if you’re planning certain onshore excursions.
Cruise insurance isn’t much different than traditional travel insurance. Any good travel insurance should cover cruises in addition to travel by air or car.
After our analysis, we’ve determined these are some of the best cruise insurance options available:
Travelex Insurance Services.
Factors we considered when picking the best cruise insurance companies
We used the following factors to choose top insurance providers to highlight:
Specifics of coverage: Including what coverage plans include and whether they offer useful coverage and benefits for cruises specifically.
Amount of coverage: Including the maximum payouts for trip cancellation and trip interruption claims.
Cost: We compared prices to determine average costs across basic plans.
Customizability: We checked to see if policies allow users to customize options to suit their specific needs.
An overview of the best cruise insurance
We searched for quotes from several companies for a seven-day trip in February 2023 from the U.S. to Mexico. The traveler was 35 years old, from Georgia, and planned to spend $2,500 total on the whole trip, including airfare.
Adventure activities and budget-friendly coverage.
Cruise-specific emergency medical care and evacuation.
Travelex Insurance Services
High daily limit for trip delays.
Cancel For Any Reason and pre-existing conditions waivers available.
Top cruise insurance options
Here’s a closer look at our five recommendations for cruise insurance and what makes them unique.
Allianz Global Assistance
What makes Allianz Global Assistance a top choice for cruise insurance:
Multiple policies are available for international and domestic travel.
Plans offer trip cancellation and interruption coverage for COVID-19.
Offers emergency medical and transportation.
For our test trip, Allianz Global Assistance’s basic plan cost $106, slightly below average.
World Nomads
What makes World Nomads a top choice for cruise insurance:
Adventure activities like mountain biking and scuba diving are covered, perfect for land-based experienced (though which sports are covered varies from plan to plan).
Offers comprehensive travel insurance plans for domestic and international travel.
Larger-than-average coverage for baggage loss and delays.
For our test trip, World Nomad’s basic plan cost $63, well below average. But the actual trip cost isn’t taken into consideration for trip cancellation and interruption coverage.
Berkshire Hathaway Travel Protection
What makes Berkshire Hathaway Travel Protection a top choice for cruise insurance:
A wide range of comprehensive plans cover cancellation, emergency medical and transportation coverage, and emergency travel assistance.
A cruise-specific plan includes some compensation for cruise disablement and the most emergency medical and evacuation coverage of any of these plans.
There are many plans available, including plans that cover adventure activities.
A Berkshire Hathaway WaveCare cruise-specific plan was $202, quite a bit more than average, but with the most medical evacuation coverage.
Travelex Insurance Services
What makes Travelex Insurance Services a top choice for cruise insurance:
Two comprehensive plans are available.
Kids-included pricing is available with the Travel Select plan.
There’s an option to add accidental death and dismemberment coverage to the basic plan.
The Travel Basic plan from Travelex Insurance Services cost $116 for our sample trip; just below the average for plans listed here.
Travel Guard by AIG
What makes Travel Guard by AIG a top choice for cruise insurance:
Three comprehensive plans are available.
Cancel For Any Reason coverage is available as an optional upgrade on two plans.
A pre-existing condition waiver is also available as an add-on.
Travel Guard by AIG offers a basic Essential plan for $133, just a little higher than average, but adding coverage may raise that price.
More resources for cruise travel insurance shoppers
Bookmark these resources to help you make smart money moves as you shop for cruise travel insurance.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2022, including those best for:
It’s easier than ever to get free shipping on online purchases these days, and you can thank Amazon Prime for that.
Amazon’s uber-popular loyalty program made two-day free shipping a thing back when other big retailers were still finding their feet online. Today, it’s good for much more than fast, free delivery.
There’s far too much to name in a short intro, but some of my favorites include tons of free TV and audio content, exclusive access to Amazon’s annual Prime Day shopping bonanza, and solid discounts on prescriptions and groceries.
But is Amazon Prime worth it for the average consumer? More to the point, how much stuff do you have to buy on Amazon to justify Prime’s price tag? See what you get from Amazon Prime and whether it makes sense for you.
What Is Amazon Prime?
Amazon Prime is the retail loyalty program for Amazon, the biggest online retailer in the United States. Prime members get free shipping on Amazon purchases, 10% off most Whole Foods Market purchases, thousands of free movies and TV shows with Prime Video, and exclusive access to Amazon’s famous Prime Day deals, among other benefits.
Amazon Prime membership costs about $140 per year for regular users. Current students and government assistance recipients may qualify for discounted memberships.
I’ve been an Amazon Prime member for about 10 years. I’ve kept my membership going because my family buys a lot of stuff on Amazon and takes full advantage of the Prime Video benefit. We rarely shop at Whole Foods, and it’s still worth it for us.
But while the value is clear for us, Amazon Prime isn’t worth it for infrequent Amazon shoppers, people who don’t watch much TV or movies, and people who don’t need the many other benefits of Prime membership.
What Sets Amazon Prime Apart?
Amazon Prime stands out from other retail loyalty programs for three reasons that, believe it or not, have nothing to do with free shipping.
Incredible Array of Free TV and Movies. Amazon Prime comes with a free subscription to Prime Video, a Netflix-level video streaming service that boasts thousands of titles.
10% Off Purchases at Whole Foods Market. Whole Foods is still pricey next to true discount grocery stores, but it’s a lot cheaper than before Amazon bought it in 2017. And Prime members’ across-the-board 10% discount makes it even more competitive on cost.
Exclusive Access to Prime Day Deals. There’s nothing quite like Prime Day in U.S. retail. It’s like Black Friday on steroids — but only for Amazon Prime members.
How Much Is Amazon Prime?
Regular Amazon Prime members pay $139 per year when billed annually or $14.99 per month (about $179.88 per year) for the more flexible monthly plan. That’s a lot more expensive than Waltmart+, but there’s a 30-day free trial you can use to see if it would be worth it to you.
It’s true most other retail loyalty programs, such as those run by supermarket and department store chains, cost nothing to join. But tens of millions of consumers happily pay comparable annual fees for warehouse store memberships.
You can’t get Amazon Prime for free, but there are two primary ways to get it for less than full price: be an eligible college student or government assistance recipient.
Prime Student
Prime Student members pay $69 per year when billed annually and $7.49 per month (about $89.88 per year) when billed monthly. To qualify, you must have valid dot-edu email addresses and be able to prove you’re actively enrolled in at least one college course in the United States (including Puerto Rico).
Prime for Government Assistance Recipients
If you receive government assistance, you may qualify for an even cheaper Prime membership: $6.99 per month after your trial. Qualifying programs include food stamps, Medicaid, the Temporary Assistance for Needy Families program, and Supplemental Security Income. You must recertify your eligibility every 12 months.
Does Amazon Prime Lower Prices?
Yes and no. Most items sold on Amazon aren’t cheaper for Prime members. However, some are cheaper with Prime, and it’s much easier to get free shipping with Amazon Prime.
That’s not to say your Amazon Prime membership won’t save you money. Prime members can take advantage of special savings opportunities like:
Exclusive deals on thousands of products, which sounds like a lot until you realize that Amazon sells tens of millions of products
Exclusive access to Prime Day, a two-day event featuring deeper discounts on a wider array of Amazon products
Another 10% off sale prices at Whole Foods Market plus Prime-exclusive discounts on Whole Foods goods
Free games, in-game content, and Twitch channel access through Prime Gaming
Discounted prescriptions at more than 60,000 participating pharmacy locations, including Walgreens, CVS, and Amazon Pharmacy
Unlimited high-quality photo storage with Amazon Photos
Free try-before-you-buy with Amazon Fashion clothing — you only pay for the garments and accessories you keep
Your Amazon Prime membership also includes ad-free music streaming and thousands of movies and shows through Prime Video. The entertainment benefits alone are worth more than your monthly Prime membership when you consider how much you probably pay for Netflix, Spotify Premium, and other popular streaming entertainment services.
Key Features of Amazon Prime
It seems remarkable that so many people willingly pay over $100 per year for Amazon Prime membership — until you realize how much you get for your money if you can take full advantage of the benefits.
Every Amazon Prime membership comes with these perks. The more you use and the more often you use them, the more value you get.
30-Day Free Trial
All new Prime members are eligible for a 30-day free trial to test-drive the service. During the free trial, you have access to all Prime-exclusive perks and benefits.
My advice: Get your shopping list in order before activating your Prime membership. Don’t buy anything you weren’t planning to, but do buy as much of your list as you can during those first 30 days. Also make a list of the other benefits you want to try, such as Prime Video, Music, or Gaming, then spend a few days using each, if possible.
That gives you a good idea if Prime is really worth it and lets you test-drive all the features. If you decide Prime isn’t for you, you at least get a month’s worth of Prime Delivery out of it. That’s worth anywhere from $3 to $10-plus per order, depending on your order size and preferred shipping speed. And having a list of the service you want to try ensures you don’t miss anything or have to reup for another month just to try it out.
You must enter a valid credit card to secure your free trial. Your membership automatically rolls over to paid status at the end of the trial period unless you cancel.
Prime Delivery
While some benefits may be limited to members in the continental U.S., Amazon Prime’s most valuable benefit is Prime Delivery, a collection of Prime-exclusive free and discounted delivery options that include:
Free 2-Day Delivery
Prime’s signature benefit is available on more than 100 million eligible Amazon products with no order minimum. You don’t have to worry about a minimum order size or limits on delivery frequency. Otherwise, free shipping takes anywhere from five to eight business days. Look for the Prime Free Delivery logo. (Continental U.S. only.)
Free Next-Day Delivery
Free next-day delivery is available on more than 15 million Amazon products with no order minimum. Just look for the Prime Free One-Day logo to get your order by 9pm local time the day after you order. (Continental U.S. only.)
Free Same-Day Delivery
Free same-day delivery means if you order an eligible product in the morning or early afternoon, it’ll arrive by 9pm local time the same day. If you order later in the afternoon or evening, it’ll arrive the next business day. It’s available on several million Amazon products, but your total order size must be at least $25.
Free Ultrafast Grocery Delivery
In select U.S. cities, Amazon offers free same-day grocery delivery through Amazon Fresh and Whole Foods Market. In some markets, it may be through a participating third-party retailer. Look for the Available Today icon in the upper right corner of the product page.
Secure In-Home Delivery
In select U.S. cities, Amazon offers secure in-home delivery through the Key by Amazon app. You must install a special lock and camera and register any frequent guests to limit Amazon’s liability for damage or theft before accepting your first in-home delivery. But you can use the app to watch deliveries in real time.
Amazon Day Delivery
If you typically place multiple orders per week, you can set a standing Amazon Day to receive everything you ordered during the preceding week. It’s a nice perk for Prime members who are frequently absent during the workweek since setting it for a day you’re home reduces package theft. Since I work at home, I don’t have that problem, but I still like Amazon Day because it means fewer interruptions when I’m working.
Release-Date Delivery
As an Amazon Prime member, you can preorder products at least two days before their scheduled release dates, then receive free guaranteed delivery by 7pm the day they’re available to the general public. In other words, you get sought-after stuff before most other people.
Other Amazon Delivery Perks
Amazon’s regular shipping benefits get all the glory. But they’re not the only delivery-related perks for Amazon Prime members.
Additional perks include:
Shopping rewards when you select the no-rush delivery option, often points to use as a credit toward future purchases or instant discounts, which can really trim your net Amazon costs if you don’t care about getting stuff as soon as possible
Free delivery on special merchandise that doesn’t typically qualify for free delivery, such as bulky, heavy, or fragile goods
Discounts on faster delivery for products that don’t qualify for free one- or same-day shipping, including used and refurbished products sold by independent sellers on Amazon
Prime Day Benefits
Amazon Prime Day is a signature benefit of Prime membership. It only comes around once per year, but it’s well worth the wait — and well worth planning (and saving) for.
Prime Day usually happens in the summer; Prime Day 2022 fell on July 12 and 13, kicking off the back-to-school shopping season. It’s Amazon’s biggest sale of the year by far, featuring millions of deeply discounted goods.
Many are actually worth buying. Some examples from Prime Day 2022:
25% off a Hoover carpet cleaner ($89.99 on sale, regular price $119.99)
20% off a portable Lasko oscillating tower fan ($59.99 on sale, regular price $74.99)
60% off a Melissa & Doug double-sided tabletop easel ($20.99 on sale, regular price $52.99)
For me, part of the fun of Prime Day is the surprise factor. Plus, it’s an excellent opportunity to get a (big) head start on your holiday shopping.
Amazon Prime Video
Amazon Prime Video is Amazon’s Prime-exclusive library of free on-demand TV and movie content.
Amazon Studios’ top original series and movies (known as Amazon Originals) are available through Prime Video at no additional charge. So are hundreds of popular non-Amazon shows, movies, and live out-of-market sporting events. As an avid user — my family watches more Prime Video content than any other streaming service with the exception of Disney+ — I can attest to the value here.
Be aware that Amazon doesn’t make its entire universe of video content available to Prime members for free. Premium TV series and films may carry one-time rental fees. But I don’t think I’ve ever paid for premium content on Prime Video, and I watch a lot — so don’t expect this to bite into your budget too much.
You can stream Prime Video to your TV with a compatible smart TV or external device, such as an Amazon Fire Stick or Apple TV. On the go, you can access content through the Amazon Prime Video app, which is compatible with Android and iOS operating systems.
Premium Prime Video Channels (Additional Fee)
Not getting everything you need with free Prime Video?
Enter Prime Video Channels, a premium content lineup that includes:
Subscription movie and TV channels like HBO and Starz
Live sports channels and memberships, including NBA League Pass, MLB.TV, and Prime-exclusive NFL games
Premium fitness content, including yoga and workout videos
Premium streaming packages like Paramount+ and Discovery+ featuring shows not available anywhere else
There are no big channel packages full of content you don’t really watch. You pay only for the channels you want, which helps control your total entertainment costs — but if you plan carefully, you can replace your pricey cable subscription, especially if you mostly care about live sports. Expect to pay $5 to $15 per month, depending on your selections.
Music Streaming
Prime subscribers can use Prime Music to stream over 2 million songs free, including new hits and old favorites. Of course, that’s a fraction of what’s available from leading streaming services like Spotify and Apple Music, which have more like 40 million songs in their respective libraries.
So if you’re a music buff, this may not be the service for you. But if you just want something to listen to while you clean, Amazon Music gets the job done.
Amazon Music Unlimited Subscription (Additional Fee)
If you have more robust music-listening needs, you might have to pay extra for Amazon Music Unlimited. It’s an expanded ad-free song library with over 90 million songs, which is on par with top subscription streaming services. It costs $8.99 per month, but that’s similar to Spotify Premium and the like, so it’s a good value if you’re not feeling your current music streaming service.
Up to 80% off Eligible Prescriptions
Prime members can save up to 80% off eligible prescriptions through participating pharmacies, including Walgreens, CVS, and Amazon Pharmacy. Savings kick in if any of these conditions apply:
You don’t have insurance
Your medication isn’t covered by insurance
Your copay or deductible is higher than your Prime member price
Amazon Photos
As an Amazon Prime member, you get unlimited digital photo storage and up to 5GB of digital video storage. If you have a ton of stored photos and not too many videos, it’s a better deal than paying out of pocket for extra storage with Google or Dropbox.
Prime Gaming
Prime members get a slew of popular and up-and-coming games free with membership, and many games come with Prime-exclusive perks and power-ups you’d normally have to pay for. Whether you’re a serious gamer or just like to kill time playing on your phone, this is a potentially valuable benefit.
Prime Reading
Prime Reading gives you unlimited access to thousands of e-books, audiobooks, and magazines delivered straight to your Kindle or non-Amazon e-reader. It comes with unlimited access to Amazon Originals too — titles you can’t find anywhere else. Like Prime Gaming, Prime Reading can more than justify the cost of a Prime membership if you’re an avid reader.
Prime Try Before You Buy
Amazon has finally given into competition from digital fast-fashion outlets and enabled try-before-you-buy apparel and accessory purchases for Prime members. I don’t personally buy clothing for myself or my kids on Amazon, but it’s not difficult to see the appeal for Prime members who do. You can get up to six items at a time, try them at home, pay only for what you keep, and return the unwanted stuff for free.
40% Discount on Amazon Kids+
Amazon Kids+ is a paid content subscription for kids under 12. It costs $7.99 per month for nonmembers and $4.99 per month for Prime members. Benefits include:
Ad-free, age-appropriate shows like “Sesame Street” and “Daniel Tiger’s Neighborhood”
Educational games and apps
Kid-friendly e-books
Parental controls to limit screen time and ensure age-appropriateness
I’m not sold on Amazon Kids+ as a stand-alone product. It’s easy enough to find educational games, shows, and books elsewhere, and it doesn’t include discounted toys, crafts, or school materials. But the discount is certainly helpful for parents seeking a not-quite all-in-one source for at-home and on-the-go learning and entertainment for younger kids.
Household Prime Membership
Amazon allows multi-person Prime memberships covering the same household, from two-person domestic partnerships to long-term roommate situations to multigenerational families.
Case in point: My wife and I pay a single annual fee for our joint Prime membership. Like merging finances in joint accounts, joint Prime memberships are common practice for spouses and committed domestic partners.
And we get even more value out of Prime now that we have kids — both for free shipping on the endless amount of kid stuff we buy on Amazon and for tons of kid-friendly Prime Video content we don’t have to pay extra for.
It’s a more powerful version of the regular Amazon Rewards Visa. The Prime Visa earns 5% cash back on Amazon and Whole Foods purchases and unlimited 2% cash back on purchases at eligible restaurants, gas stations, and drugstores. And cardholders occasionally qualify for cash-back bonuses as high as 10% on select products.
I almost never shop at Whole Foods, but my household spends enough elsewhere in the Amazon ecosystem to justify our Prime Rewards Visa Signature Card. In the past few years, our cash-back earnings have easily offset our Prime membership fee — you need to spend about $2,800 per year with Amazon or Whole Foods to break even.
Prime Store Card
If you don’t qualify for the Amazon Prime Rewards card, you might still be able to get the Prime Store Card. You can only use it on Amazon, but the Prime Store Card is more generous than the average retail credit card.
Notable benefits include:
5% back on Amazon purchases with an eligible Prime membership
Up to 15% back on select rotating items throughout the year (a better deal in some cases than the Prime Rewards card)
0% annual percentage rate financing on larger purchases — six months without interest for purchases between $150 and $599 and 12 months without interest for purchases above $600
No annual fee
My take? If you’re not allergic to credit cards and you regularly shop at Amazon, the Prime Store Card is a no-brainer. Just remember to pay off your balance in full each month if you don’t qualify for 0% APR financing.
Advantages of Amazon Prime
I’ve come to the conclusion that Amazon Prime is the best general retail loyalty program because it offers more perks and ways to save than the rest. These are its top advantages.
Prime Video Is a Great Deal. Prime Video has thousands of TV shows and movies, many unique to Amazon. My family uses it more than our Netflix subscription and doesn’t pay a dime extra for it.
Prime Video Channels May Be Cheaper Than Cable or Other Live TV Streaming Subscriptions. Amazon Prime Video Channels costs about $5 to $15 extra per month for Prime subscribers, depending on the package. I’m not a big fan of stacking rarely-used streaming subscriptions, but there’s a decent chance the right Prime Video Channels package could replace your cable or existing live TV streaming subscription.
Many Free Shipping Options. Depending on what you’re ordering, you can get your stuff as soon as today with Prime — without paying for shipping. And tens of millions of products come with two-day shipping.
One Membership Covers the Entire Household. You can share a single Prime membership within a big household without paying anything extra. That’s especially clutch for roommates who might technically be separate households for tax purposes but share expenses among themselves.
30-Day Free Trial for All New Members. Your new Prime membership is free to try for an entire month. That should be long enough to decide if it’s worth keeping.
Membership Discounts for Students and Government Assistance Recipients. Students and qualifying government assistance recipients get Prime for about 50% less than everyone else.
Across-the-Board Whole Foods Market Discounts. Your Prime membership comes with an across-the-board 10% discount on Whole Foods purchases, including prepared foods purchases — in other words, high-quality groceries at mid-market prices.
Earn and Save More With an Amazon Payment Card. Amazon Prime payment cards come with solid discounts or cash back on eligible Amazon purchases, which gives you even more ways to save if you qualify.
Disadvantages of Amazon Prime
Amazon Prime has some downsides too. Even if it seems like a good value, consider these drawbacks before ponying up over $100 per year.
May Not Be Worth It for Some Shoppers. Your Amazon Prime membership pays for itself if you regularly buy stuff on Amazon and take advantage of the entertainment features and built-in discounts. But if you do most of your shopping and viewing elsewhere, it’s not worth it.
Annual Subscription Pricing Isn’t Prorated. Once you pay for a year of Amazon Prime, there’s no point in canceling until right before your subscription is up for renewal. You won’t get any money back.
The Free Music Library Is Relatively Small. Amazon’s free music library has about 2 million songs, which sounds like a lot. But major competitors like Apple Music and Spotify have many times that number, so it’s probably not worth switching if you’re happy with one of those.
Few Prime-Exclusive Amazon Deals Outside Prime Day. Most Prime-exclusive deals happen on Prime Day, which is actually two days. Still — just two days out of the year.
How Amazon Prime Stacks Up
As a retail loyalty program, Amazon Prime is in a class by itself thanks to its wealth of features and potential value.
The competitor that comes closest is Walmart+, which claims its members can save $1,300 per year. That claim uses very generous assumptions about how much they buy from Walmart and its partners, but it’s true that Walmart+ is legit for frequent Walmart shoppers. Whether it stacks up to Amazon depends on which features are important to you.
Amazon Prime
Walmart+
Membership Cost
$139 (annually) or $14.99 (monthly)
$98 (annually) or $12.95 (monthly)
Free Shipping Benefits
Same-day or two-day with no minimum order
Usually two-day with no minimum order
Entertainment Benefits
Prime Video and Music
Paramount+ Essentials and Spotify Premium
Rewards Program
No
Yes
Fuel Savings
No
Yes
Other Benefits
Discounts on Whole Foods and eligible prescriptions; exclusive Prime Day deals
Member-only deals
Is Amazon Prime Any Good?
Yes — in my opinion, Amazon Prime is worth the cost.
I’ve been a Prime member for going on a decade now, which means I’ve spent at least $1,000 on membership fees alone.
But I’ve saved thousands more through free shipping, Prime Day discounts, free entertainment, credit card rewards, and other Prime benefits. And though it should be clear by now that my household spends a lot on Amazon, it’s not like it’s the only place we shop. We get excellent value out of Amazon Prime without trying too hard.
Alternatives to Consider
As retail loyalty programs go, Amazon Prime is in a class by itself, which is part of the reason it’s so valuable. Still, other big-name retailers have loyalty programs that offer real value, and most don’t charge three-figure membership fees.
Product Service
Best For
Target Circle
Exclusive deals and cash back
Walmart+
Free shipping, fuel savings, and entertainment benefits
Final Word
Amazon Prime has a lot to offer, but it isn’t for everyone.
My wife and I get our money’s worth and feel it’s a fair value. But we know plenty of occasional Amazon shoppers who can’t justify spending $139 per year for Prime benefits. Other shoppers take issue with Amazon’s growing retail dominance and prefer to support independently owned retailers instead.
Whether Amazon Prime makes sense for you depends on how much value you can extract from it. If you’re already selecting one- or two-day shipping on frequent Amazon purchases, shopping at Whole Foods, and regularly streaming Amazon content, it makes sense to join Prime.
If you shop Amazon infrequently or not at all, don’t watch much Prime TV, and don’t live near a Whole Foods, Prime likely isn’t worth it for you. If your experience is somewhere in between, your choice might be tougher, but if you fully leverage the free trial, it’s an easy enough choice.
The service sector is a massive and growing part of the U.S. economy. A 2016 Forbes article cheekily called the service sector “the only important part of the U.S. economy” and suggested it should take center stage when gauging the financial strength of the country.
There are plenty of publicly traded companies making tremendous amounts of revenue in the space. This opens the door to investment opportunities that are hard to ignore. However, not all consumer services stocks are created equal. Some investments in the space have the potential to generate compelling gains, but others will result in significant declines.
So, as is the case when investing in any sector, it’s important that you choose which service sector stocks to buy wisely. But how do you go about finding the best stocks in such a vast sector?
5 Best Consumer Services Stocks to Buy
Between shipping services, communication services, financial services, health care services, and a wide range of other service companies listed on U.S. stock exchanges, options in the sector are plentiful. However, this can also make drilling down to where you should invest your money difficult.
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The five stocks mentioned below are some of the top stocks to watch in the services space:
1. Amazon.com (NASDAQ: AMZN)
Market Cap. ~$1.325 trillion
Dividend Yield. 0%
Performance. AMZN stock is down about 23% both year-to-date (YTD) and year-over-year (YoY).
Analyst Opinions. According to TipRanks, 38 analysts rate the stock a Buy, one rates it a Hold, and there are no Sell ratings to speak of. The consensus price target is $176.94 per share, representing the potential for more than 35% growth in the next year.
With a market cap of more than $1.325 trillion, Amazon.com is one of the largest companies in the world. The online retail giant has become a household name in the United States by providing a simple yet intuitive e-commerce website that features hard-to-beat deals and industry-leading shipping times.
From an investor’s perspective, Amazon.com is a company that’s known for generating strong revenue growth and complete dominance in the e-commerce space. According to Statista, in 2022, the company’s market share of the United States online shopping market is 37.8%. To put that into perspective, its closest competitor is Walmart with just 6.3% of the online shopping market.
That’s right, Amazon.com controls more than one-third of the e-retail market in the largest economy in the world, offering both consumer staples and consumer discretionary products. That’s an incredible statement to make.
Moreover, while the COVID-19 pandemic proved to be a significant hindrance to revenue and net income growth among many publicly traded companies, Amazon.com didn’t skip a beat. Prior to, throughout, and after the global health crisis, the company has consistently generated strong net income and revenue growth.
The reason is simple.
Prior to the pandemic, experts were already noticing a pretty strong shift toward online shopping and away from the brick-and-mortar experience, but the coronavirus has sped up this trend.
Before the crisis, there were quite a few consumers who simply wouldn’t give online shopping a chance. They preferred to see and feel the products they were purchasing before they pulled out their wallets. Many of the consumers who were married to the traditional shopping experience are older and also happen to be at the highest risk for severe COVID-19 symptoms.
The virus and fear of its ability to spread led many of these consumers to shop online and, with Amazon.com being the leader in the space, the company became a clear beneficiary of the trend. As a result, the stock saw tremendous gains.
Unfortunately, the company gave up much of its gains in the recent tech sell-off. It’s down over 20% YTD, but many investors see the declines as a buying opportunity.
Beyond the pandemic, there’s a good reason for Amazon.com’s leadership in online retail services. The company spent billions of dollars early on, expanding its infrastructure and focusing on delivering products to consumers as quickly as possible. These investments have paid off, with Amazon.com offering a best-in-class user experience and ultimately resulting in its leadership within its category.
With a strong history of leadership in its space, best-in-class infrastructure, and a history of dramatic net income and revenue growth, Amazon.com is already a stock that’s hard to ignore. Add in the fact that the company has proven to be resilient during the coronavirus and the resulting economic hardship, and the stock is clearly one of the best plays on the stock market today.
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2. McDonald’s (NYSE: MCD)
Market Cap. ~$188.4 billion
Dividend Yield. 2.15%
Performance. MCD stock is down about 5% YTD and up more than 8% over the past year.
Analyst Opinions. 20 analysts rate the stock a Buy, three rate it a Hold, and none rate it a Sell. The average price target is $283.55, representing the potential for more than 10% gains over the next year.
McDonald’s is the leading fast-food chain in the United States and around the world. With the company operating within the food service industry, the COVID-19 pandemic sent the stock to multiyear lows early on.
However, that has already changed in a big way, with the stock trading well above pre-pandemic highs today.
While the shutting down of the economy in the U.S led to dramatic reductions in sales for the fast food chain, that trend proved to be short-term. As the economy reopened, same-store sales began to skyrocket, starting the stock’s recovery. Now, growth seems to have normalized and the stock is acting as though COVID-19 never happened.
Beyond the strong COVID-19 recovery, McDonald’s is a long-term play with incredible potential. There are perks to being the largest fast-food chain in the world. As a result of its longstanding leadership in fast food, the company has brand equity and an economic moat that are impossible to discount.
As consumers continue to venture back out into the world, they are likely to find solace in what they know, and with McDonald’s strong history in the food service space, it will continue to be a go-to option, leading to continued sales growth and positive movement in the price of the stock.
Moreover, McDonald’s isn’t just a services stock; it also fits perfectly within the dividend stocks category. The company has consistently shown its appreciation for its investors through the payment of dividends every quarter for quite some time now. The company has increased its dividend annually for the past 43 years, even managing to maintain this record throughout the coronavirus. Although it doesn’t have the highest dividend yield on the market, the figure comes in at 2.15%, which is nothing to sneeze at.
McDonald’s has built a company that has made it through some of the toughest economic times in history. Consistent smart moves by management and its standing as a household name in the U.S. have given McDonald’s a level of resilience that’s not often seen in the food service industry.
All in all, when talking about McDonald’s, you’re talking about one of the largest and most iconic companies in the world that has become the top consumer choice for warm food that’s served up quickly. With the strong recent revenue growth, a history of investor appreciation, and a leadership role within the hospitality and services industry, MCD stock is one to pay close attention to.
3. Costco (NASDAQ: COST)
Market Cap. ~$237.1 billion
Dividend Yield. 0.67%
Performance. COST stock is down about 6% YTD and up more than 17% over the past year.
Analyst Opinions. There are 13 Buy and 4 Hold ratings on the stock, with zero Sell ratings. The average price target sits at $563.06, representing the potential for more than 5% growth over the next year.
Costco is one of the largest chains of warehouse stores in the world and has become an important part of the shopping experience for consumers across the United States. Offering steep discounts on bulk purchases from groceries to clothes, electronics, home goods, consumer staples, and more, the company has the equivalent of a real-life paywall. In order to access the discounts offered by Costco, consumers pay between $60 and $120 per year for a membership.
The membership plan has worked well for Costco. In 2021, the company had generated about $3.9 billion in paid membership fees.
Moreover, when you pay for a membership, you want to use it. After all, nobody likes to spend hard-earned money and get nothing in return. As a result, the company benefits from shoppers that are loyal to the club, leading to revenue of well over $160 billion per year as consumers shop in their stores.
At the same time, that revenue is growing rapidly. In the most recent quarter, net sales were up more than 16% year over year.
While the coronavirus has been a painful reality for retail services as a whole, Costco has had an incredibly strong performance. As an essential business, the company was able to keep its stores open through the pandemic. So, same-store sales continued to grow as if nothing ever happened.
Moreover, now seems to be the perfect time to jump in. The stock followed the overall market earlier in the year, resulting in declines. That may be a turnoff to some, but there’s a strong argument that the stock is still trading much lower than it should be, suggesting that buying at these low levels offers a steep discount and making the stock a perfect play for value investors.
All in all, when you buy Costco stock, you’re buying shares in a company that has become a staple in United States retail services. The company has a massive audience of paying members and continues to see growth in not only memberships but also revenue and earnings, which remained true even in the midst of a global health crisis. That type of strength makes Costco a stock that should not be ignored.
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4. Walmart (NYSE: WMT)
Market Cap. ~$364.92 billion
Dividend Yield. 1.68%
Performance. WMT is down about 8% so far this year and about 10% on a YoY basis.
Analyst Opinions. 21 analysts rate the stock a Buy and seven rate it a Hold. There are no Sell ratings. The average price target is $151.61 representing the potential for nearly 14% gains over the next year.
Sticking to the topic of retail services, Walmart is a natural leader. Before the Internet changed the way consumers shopped, Walmart was there, amassing thousands of locations across the United States.
As Amazon.com carved out the online retail niche, brick-and-mortar retailers struggled. That is, with the exception of Walmart. The company has two important advantages going for it that create the economic moat that famed investor Warren Buffet often talks about:
Early Infrastructure Investments. Early on, Walmart built the ultimate retail infrastructure. As the company continued to generate impressive profits, it also invested massive amounts of money into new stores and distribution centers to keep those stores full of products. As a result, shopping at Walmart became the norm for many people. Human beings are habitual creatures, and breaking the habit of looking to Walmart as the go-to store for everything from home goods to groceries, electronics, movies, and more is a tall order.
Online Transition. When Walmart noticed that the online shopping trend had the potential to cut into its growth, it acted quickly. While Amazon.com is still the top dog in e-commerce, Walmart.com is a clear second after surpassing eBay and taking more than 6% of the total e-commerce market share, according to eMarketer. With continued investments in e-commerce, Walmart continues to gain market share year after year.
Walmart did well throughout the COVID-19 pandemic as an essential business. Because of the company’s leadership in the grocery category, stores needed to stay open to supply food to the masses throughout the coronavirus crisis. As a result, the company was able to maintain growth in same-store sales, revenue, and earnings, beating both top-line and bottom-line analyst expectations throughout the crisis.
Not only has the company maintained strength throughout the COVID-19 pandemic, it has also continued to show investor appreciation through the payment of dividends. According to Nasdaq, the company has consistently increased its dividend payments year over year since 2013.
Walmart has become a household name as a result of massive investments in infrastructure that have given consumers across the country access to their stores, and the company has such a strong presence in retail that it’s able to offer lower prices than most other retailers. This strength is nothing to sneeze at, and, combined with a proven resilience through the course of the COVID-19 pandemic, it makes WMT stock one for the books.
5. Walt Disney (NYSE: DIS)
Market Cap. ~$208.1 billion
Dividend Yield. 0%
Performance. Disney stock is down more than 27% YTD and up more than 36% over the past year.
Analyst Opinions. 16 analysts rate the stock a Buy and three rate it a Hold. There are no Sell ratings to speak of. The average price target sits at $139.28, representing the potential for more than 20% growth ahead.
Walt Disney is a household name in the U.S. and around the world. The iconic entertainment company is responsible for Mickey Mouse and a slew of other well-known brands in entertainment, both cartoon and in living flesh.
Due to the COVID-19 pandemic, the company took a powerful hit. Forced to shut down its theme parks and retail stores, revenue slumped dramatically in 2020. Unfortunately, so did the value of the stock.
However, Walt Disney has made a tremendous comeback. The stock climbed to well above pre-pandemic highs before the bear market of 2021 and 2022 began to set in.
Over the last year, the stock has given up more than 36% of its value, but many investors and most analysts see this as an opportunity.
The company’s theme parks are serving customers at full capacity, alleviating the pain it felt throughout the pandemic, and business seems to be back to normal.
Moreover, Walt Disney made a splash when it jumped into the streaming entertainment space with Disney+ and ESPN+, taking its share of the market from the likes of Netflix. These streaming ventures were a nearly instant success as COVID-19 led more people to look for in-home entertainment options while reducing costs by cutting the cable cord. Not to mention, the company also owns Hulu, one of the largest streaming video players on the field.
So, Walt Disney’s theme park revenue is back on the rise and the company is further cementing itself an entertainment powerhouse with plenty of ways to make money. This, combined with a strong history of leadership in entertainment, a strong balance sheet, and expanding leadership in the streaming video space, suggests that Disney stock has the potential for continued gains ahead.
Pro tip: Before you add any stocks to your portfolio, make sure you’re choosing the best possible companies. Stock screeners like Stock Rover can help you narrow down the choices to companies that meet your individual requirements. Learn more about our favorite stock screeners.
Invest in Consumer Service ETFs
Investing in individual stocks can be a daunting process for the newcomer investor. If you’re not well-versed in stock market research or simply don’t have the time it takes to do your due diligence, there’s another option.
There are several exchange-traded funds (ETFs) on the market today that pool funds from a large group of investors to make investments according to the ETFs investing strategy. These funds address various investing styles, sectors, and risk appetites.
So naturally, there are plenty of ETFs that were designed specifically to provide investors with diversified exposure to consumer service stocks. By investing in these funds, you’ll be investing in a diversified portfolio chosen by some of the most highly respected professionals on Wall Street.
Nonetheless, if you go this route, it’s important to keep in mind that you’ll still need to do some research. Prior to investing in any ETF, take a moment to look into the fund’s historic performance, expense ratio, and investing strategy to get a good understanding of exactly what you’ll be investing in.
Final Word
COVID-19 has changed the shape of the service industry as we know it. Some of these changes — like a shift to online shopping and work-from-home opportunities — are proving to be here for the long haul, creating compelling investment opportunities in companies that serve these markets.
At the same time, recent market activity has driven valuations down, creating several buying opportunities.
No matter which direction you go, you have the opportunity to find success. However, there is also always the risk of loss. Always take the time to research investments before making them and keep in mind that educated investment decisions generally relate to profits.
Disclaimer: The author currently has no positions in any stock mentioned herein nor any intention to hold any positions within the next 72 hours. The views expressed are those of the author of the article and not necessarily those of other members of the Money Crashers team or Money Crashers as a whole. This article was written by Joshua Rodriguez, who shared his honest opinion of the companies mentioned. However, this article should not be viewed as a solicitation to purchase shares in any security and should only be used for entertainment and informational purposes. Investors should consult a financial advisor or do their own due diligence before making any investment decision.
Twitter wants a Delaware court to order Elon Musk to buy the social media service for $44 billion, as he promised back in April. But what if a judge makes that ruling and Musk balks?
The Tesla billionaire’s reputation for dismissing government pronouncements has some worried that he might flout an unfavorable ruling of the Delaware Court of Chancery, known for its handling of high-profile business disputes.
Musk hopes to win the case that’s headed for an October trial. He’s scheduled to be deposed by Twitter attorneys starting Thursday.
But the consequences of him losing badly — either by an order of “specific performance” that forces him to complete the deal, or by walking away from Twitter but still coughing up a billion dollars or more for breach of contract — has raised concerns about how the Delaware court would enforce its final ruling.
“The problem with specific performance, especially with Elon Musk, is that it’s unclear whether the order of the court would be obeyed,” retired Delaware Supreme Court Justice Carolyn Berger told CNBC in July. “And the courts in Delaware — courts all over — are very concerned about issuing a decision or issuing an order that then is ignored, flouted.”
Berger, who was also a vice chancellor of the Chancery Court in the 1980s and 1990s, stood by those concerns in an interview with The Associated Press but said she doubted the Delaware institution would go so far as to make him complete the deal.
“The court can impose sanctions and the court can kind of coerce Musk into taking over the company,” she said. “But why would the court do that when what really is at stake is money?”
Berger said she expects Twitter to prevail, but said a less tumultuous remedy for the company and its shareholders would make Musk pay monetary damages. “The court doesn’t want to be in a position to step in and essentially run this company,” she said.
Musk and his lawyers didn’t respond to requests for comment.
Other legal observers say such defiance is almost impossible to imagine, even from a famously combative personality such as Musk. He acknowledged he might lose in August in explaining why he suddenly sold nearly $7 billion worth of Tesla shares.
“I take him at his word,” said Ann Lipton, an associate law professor at Tulane University. “He wants to win. Maybe he’s got his own judgment as to what the odds are. But he’s also being sort of practical about this. He’s getting some cash ready so he doesn’t have to dump his Tesla shares if it turns out he is ordered to buy the company.”
A ruling of specific performance could force Musk to pay up his $33.5 billion personal stake in the deal; the price increases to $44 billion with promised financing from backers such as Morgan Stanley.
The Delaware court has powers to enforce its orders, and could appoint a receivership to seize some of Musk’s assets, namely Tesla stock, if he doesn’t comply, according to Tom Lin, a law professor at Temple University.
The court has made such moves before, such as in 2013 when it held Chinese company ZTS Digital Networks in contempt and appointed a receiver with power to seize its assets. But after coercive sanctions didn’t work, the receiver asked the court five years later to issue bench warrants calling for the arrest of two senior executives the next time they visited the U.S.
Speculation that Musk could be threatened with jail time for failing to comply with a ruling is unrealistic, said Berger. “At least, not for the Court of Chancery,” said the former judge. “That’s not the way the court operates.”
But more important, Lin said Musk’s legal advisers will strongly urge him to comply with the rulings of a court that routinely takes cases involving Tesla and other firms incorporated in the state of Delaware.
“If you are an executive at a major American corporation incorporated in Delaware, it’s very hard for you to do business and defy the chancery court’s orders,” Lin said.
Concerns about Musk’s compliance derive from his past behavior dealing with various arms of the government. In a long-running dispute with the U.S. Securities and Exchange Commission, he was accused of defying a securities fraud settlement that required that his tweets be approved by a Tesla attorney before being published. He publicly feuded with California officials over whether Tesla’s electric car factory should remain shut down during the early stages of the COVID-19 pandemic.
He’s also taken a combative approach in Delaware Chancery Court, calling an opposing attorney a “bad human being” while defending Tesla’s 2016 acquisition of SolarCity against a lawsuit that blamed Musk for a deal rife with conflicts of interest and broken promises. He and his lawyers have other Delaware cases still pending, including one involving his compensation package at Tesla.
“I think we’ve got a whole lot of players who, as loose a cannon as Elon Musk is, rely on the goodwill of the Delaware courts on an ongoing basis for their businesses,” Lipton said.
Musk’s argument for winning his latest Delaware case largely rests on his allegation that Twitter misrepresented how it measures the magnitude of “spam bot” accounts that are useless to advertisers. But most legal experts believe he faces an uphill battle in convincing Chancellor Kathaleen St. Jude McCormick, the court’s head judge who is presiding over the case, that something changed since the April merger agreement that justifies terminating the deal.
The trial begins Oct. 17 and whichever side loses can appeal to the Delaware Supreme Court, which is expected to act swiftly. Musk and Twitter could also settle the case before, during or after the trial, lawyers said.
Delaware’s courts are well-respected in the business world and any move to flout them would be “shocking and unexpected,” said Paul Regan, associate professor of Widener University’s Delaware Law School who has practiced in Delaware courts since the 1980s. “If there was some kind of crisis like that, I think the reputational harm would be all on Musk, not the court.”
TOKYO — Business sentiment among large manufacturers worsened for the third straight quarter, a Bank of Japan survey showed Monday, as the nation grappled with rising costs, the dropping value of the yen and restrictions on economic activity over the coronavirus pandemic.
The headline measure for the “tankan,” measuring sentiment among large manufacturers, was plus 8, down from plus 9 the previous quarter.
The tankan measures corporate sentiment by subtracting the number of companies saying business conditions are negative from those responding they are positive.
Worries are growing about how the Bank of Japan hasn’t gone along with other central banks in tightening interest rates to curb growing inflation. Japan has been trying to fight deflation in recent years and has kept interest rates at near zero.
The nose-diving yen is also a concern, although a cheap yen has in the past been lauded as helping the nation’s big exporters like Toyota Motor Corp., by raising the value of overseas earnings.
The rising costs of imports, including energy as well as food, is hurting Japan, when the U.S. dollar is now trading at nearly 145 yen, when it used to be at 130-yen levels just a few months ago. A year ago, the dollar cost 111 yen.
Sentiment among large nonmanufacturers improved to 14 from 13, according to the latest tankan.
The world’s third-largest economy has struggled for decades to keep growth going. But the stagnation has worsened the last two years because of reduced travel and supply shortages caused by the pandemic.
The war in Ukraine has added to the problems for a resource-poor nation that imports almost all its oil.
The return of individual visa-free travel later this month is certain to work to boost incoming tourists.
The pandemic had squelched overseas tourism, which had sustained economic activity in recent years.
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Yuri Kageyama is on Twitter https://twitter.com/yurikageyama
PARIS — Valentino’s Paris fashion show on Sunday saw black cars snared for blocks dropping off battalions of celebrities who, amid the commotion, just couldn’t find the entrance.
Seated VIP guests were sweatily crammed in together inside the Le Marais’ Carreau du Temple venue, waiting as the show started an hour late. Outside, screaming members of the public braved the rain for hours just for a glimpse of their favorite stars.
Fever pitch like this at Paris ready-to-wear fashion shows is reminiscent of the French capital’s pre-pandemic fashion scene — and one more visible sign the industry is buoyant again after the devastation caused by the coronavirus pandemic.
Here are some highlights of Sunday’s spring-summer 2023 collections in Paris:
VALENTINO’S REVEAL
“Cuts and transparencies reveal the persona,” the brand said of designer Pierpaolo Piccioli’s glitzy spring collection that mixed gimmicks with moments of thoughtful fashion skill.
Models with faces and necks completely covered in disturbing interlocking “V” make-up began the show, introducing the theme of the reveal.
The exploration of inside-out or back-to-front continued in a beautiful nude skin-like top with matching nude pants speckled sparingly with diaphanous plumes on model Anna Cleveland.
A coat had ostrich feathers peaking out from inside through the hems. The sides of some dresses were scooped out, while a dazzling purple sequined floor-length gown revealed the model’s flesh only at the back.
Yet at times it felt as if the lauded Italian designer may have tried to fit too much in. By outfit number 91, it also felt exhausting — with fashion insiders fidgeting for the show to wrap up.
The Valentino finale was the true reveal of the show, which was livestreamed: The models did not even walk past seated guests as usual, but straight outside to the cheering general public, making some inside feel superfluous.
RAIN ON GIVENCHY’S PARADE
Rain would normally be a good thing in the green thickets of the Jardin des Plantes, the gardens in central Paris.
For Givenchy’s outside runway, it was another story.
VIP guests including Olivia Rodrigo survived torrential downpours only thanks to helpers clutching transparent umbrellas. But the show had to go on. For Matthew M. Williams, a designer who has garnered lukewarm reviews of late, this collection was a little like crunch time.
For spring, the U.S. designer moved his street aesthetic in a dressier direction — likely trying to bring him to the safer ground of the age-old house’s traditional aesthetic. He had some success.
An oversized tweed black bolero cut a creatively surreal silhouette atop a pencil-thin mini dress, twinned with Matrix-style shades. Elsewhere, features such as ruching on a silken top, or draping on a fluid skirt, resembled thick organic sinews or ribs.
This felt like a good, gently transgressive direction for the house immortalized by Audrey Hepburn’s LBD.
However, many of Williams’ design elements still felt out of place on the haute Paris runway, such as 90s lowslung cargo shorts that seemed off-kilter. Furthermore, they clashed with the black silken ruffled cuffs that dangled down.
THE ART OF THE INVITATION
The art of the chic invite is still very much a staple of the Paris luxury industry.
The little works of art sometimes provide a hint as to what the collection has in store; other times, they are just plain wacky.
Balenciaga’s spring invite was — unfathomably — a real used leather wallet containing real French franc notes, a health security card, a photo of a pet cat, and credit cards as well as other things spilling out. Countless videos appeared on social media of surprised guests opening their “invite.”
One fashion inside exclaimed: “But how do you know how to get to the show?”
Valentino’s invitation was a smooth black cube that opened to have nothing inside but a QR code. Chanel’s was a card of Kristen Stewart’s face that was so big it could not fit into letter boxes.
BARBARA BUI IS SMART
Low-key French designer Barbara Bui is a good example of how the pandemic affected the fashion industry — for better and for worse.
Many houses went digital during the lockdowns, opting to show a fashion film instead of staging a show, which was for many months prohibited. In this spring Paris season — like in Milan’s — the industry seems to be very much back to pre-pandemic runways, yet Bui’s was one of a spattering of collections that continued with the fashion film format.
It’s a smart move: Smaller houses like Bui’s have benefited from the new flexibility as runway collections are clearly much more expensive to produce.
The collection’s spring video featured a couple of lovers in a French country house seeking each other out and seemingly wearing each other’s clothes — a good theme for a co-ed fashion show.
The film’s use of light sat well with the fluidity of a loose white tuxedo suit on a bare chest, or a giant multicolored foulard thrown nonchalantly over the male model’s naked shoulder. A cobalt blue one-shoulder piece was set off by the male model’s long bright red and androgynous nail polish.
My husband and I purchased several timeshares over the years. (Apparently, I can’t say no.) My husband has now died, and I am 72.
Supposedly, one of the benefits of a timeshare is that your children can inherit it. However, our adult son has no interest in inheriting these “vacation opportunities,” nor in being obligated to pay the ongoing maintenance fees. How can I protect him from inheriting the timeshares, which include the burden of paying the annual fees or risking damage to his credit rating for not paying?
-J.
Dear J.,
Timeshares are often sold on the promise of idyllic family memories that can continue for generations to come. Instead, they turn out to be a financial albatross for countless buyers. That’s why eBay is filled with listings from desperate owners seeking to unload their “vacation investments” for as little as $1.
But I have good news: Saying no to buying a timeshare can be tough after a high-pressure sales pitch that stretches on for hours. But it’s fairly easy to say no to inheriting a timeshare in most situations.
In most cases, a timeshare will become part of your estate when you die. If you included it in your will, it would go through probate and pass to the beneficiary of your choosing. You could also transfer it directly to a beneficiary through a trust or joint tenancy titling should you know someone who actually wants a timeshare. If you die without a will or the timeshare for some reason isn’t included, your state’s intestacy laws would determine who inherits it. That would probably be your son, assuming he’s your only child.
When you die, your son could file what’s called a disclaimer of interest with the probate court and send a copy of each disclaimer to your estate’s executor, along with the timeshare companies. Basically, he’d be rejecting the inheritance.
Your son wouldn’t need to reject his entire inheritance if you have other assets that you plan to leave to him. The disclaimer would apply specifically to the timeshares. As always, it’s important to consult with an attorney whenever you’re drafting a legal document.
Generally, he’ll have nine months from the time of your death to do this, though the laws vary somewhat by state. Once your son rejects the timeshares, they would likely go to the next person in line according to your state laws. That means that each person who stands to inherit your timeshares would need to file their own disclaimers of interest.
If all your potential heirs reject the timeshare, the timeshare company will probably foreclose on it. Your estate may be responsible for fees, which could eat into any other inheritance your son would receive. But your son wouldn’t personally be on the hook for any timeshare-related costs.
Your son and any other heirs should avoid using these timeshares after you die. Whenever you reject an inheritance, you can’t derive any benefit from the property you’re disclaiming. By staying for even one night at one of your timeshares, he’d risk violating this rule.
The advice I’ve given up to this point has been for your son. One thing you can do to make things easier is to make sure his name isn’t on any of the deeds. Timeshare companies frequently push buyers to put their children’s names on the deed, saying it’s more convenient. But this will make disclaiming the inheritance more complicated for your son. If your son’s name is on any of the deeds, contact the timeshare companies about removing it. They’ll often agree if there’s no loan attached.
If you don’t use these timeshares much, look into your options for getting out now to make things easier for your son later. Unfortunately, this is much easier said than done — hence all those $1 timeshare listings. Some companies may agree to take back the timeshare if you don’t have a loan.
It may also be possible to sell some units if they’re located in a popular market, albeit for a small fraction of what you originally paid. Just be aware of the many unscrupulous players involved. Don’t pay any upfront fees to a company that promises to sell your timeshare or get you out of the agreement. Use the Licensed Timeshare Resale Brokers Association website to find a broker who will charge a commission if they sell your timeshare instead of demanding an upfront payment.
You’ve probably learned the hard way that timeshares are typically a terrible deal. Otherwise, the salespeople wouldn’t have to lure you into presentations with free hotel stays and theme park tickets. They’d have a willing pool of buyers.
Fortunately, though, it’s a lot easier to say no to inheriting a timeshare. You may be stuck with your timeshares for now, but your son doesn’t need to take on the burden of these money pits.
Robin Hartill is a certified financial planner and a senior writer at The Penny Hoarder. Send your tricky money questions to [email protected].
KYIV, Ukraine — Russia attacked the Ukrainian president’s hometown and other targets Sunday with suicide drones, and Ukraine took back full control of a strategic eastern city in a counteroffensive that has reshaped the war.
Russia’s loss of the eastern city of Lyman, which it had been using as a transport and logistics hub, is a new blow to the Kremlin as it seeks to escalate the war by illegally annexing four regions of Ukraine and heightening threats to use nuclear force.
Russian President Vladimir Putin’s land grab has threatened to push the conflict to a dangerous new level. It also prompted Ukraine to formally apply for NATO membership, a bid that won backing Sunday from nine central and eastern European NATO members fearful that Russia’s aggression could eventually target them, too.
Ukrainian President Volodymyr Zelenskyy announced Sunday that his forces now control Lyman: “As of 12:30 p.m. (0930 GMT) Lyman is cleared fully. Thank you to our militaries, our warriors,” he said in a video address.
Russia’s military didn’t comment on the situation in Lyman on Sunday, after announcing Saturday that it was withdrawing its forces there to more favorable positions.
The British military described the recapture of Lyman as a “significant political setback” for Moscow. Taking the city paves the way for Ukrainian troops to potentially push farther into Russian-occupied territory.
In southern Ukraine, Zelenskyy’s hometown of Krivyi Rih came under Russian attack by a suicide drone that destroyed two stories of a school early Sunday, said Valentyn Reznichenko, governor of Ukraine’s Dnipropetrovsk region.
Russia in recent weeks has begun using Iranian-made suicide drones to attack targets in Ukraine. In southern Ukraine, the Ukrainian air force said Sunday it shot down five Iranian-made drones overnight, while two others made it through air defenses.
A car carrying four men who wanted to forage for mushrooms in a forest in Ukraine’s Chernihiv region struck a mine, exploding the vehicle and killing all those inside, local authorities said Sunday.
Russian attacks also targeted the city of Zaporizhzhia, Ukrainian authorities said Sunday. And Ukraine’s military said Sunday it carried out strikes on multiple Russian command posts, ammunition depots and two S-300 anti-aircraft batteries.
The reports of military activity couldn’t be immediately verified.
Ukrainian forces have retaken swaths of territory, notably in the northeast around Kharkiv, in a counteroffensive in recent weeks that has embarrassed the Kremlin and prompted rare domestic criticism of Putin’s war.
Lyman, which Ukraine recaptured by encircling Russian troops, is in the Donetsk region near the border with Luhansk, two of the four regions that Russia illegally annexed Friday after forcing what was left of the population to vote in referendums at gunpoint.
In his nightly address Saturday, Zelenskyy said: “Over the past week, there have been more Ukrainian flags in the Donbas. In a week there will be even more.”
In a daily intelligence briefing, the British Defense Ministry called Lyman crucial because it has “a key road crossing over the Siversky Donets River, behind which Russia has been attempting to consolidate its defenses.”
The Russian retreat from northeast Ukraine in recent weeks has revealed evidence of widespread, routine torture of both civilians and soldiers, notably in the strategic city of Izium, an Associated Press investigation has found.
AP journalists located 10 torture sites in the town, including a deep pit in a residential compound, a clammy underground jail that reeked of urine, a medical clinic and a kindergarten.
Russian officials release limited information about military activity in what the Kremlin still refuses to call a war. They routinely claim that Russia exclusively targets Ukrainian military forces, the foreigners supporting them or Western-supplied weaponry.
Putin frames the Ukrainian gains as a U.S.-orchestrated effort to destroy Russia, and last week he heightened threats of nuclear force in some of his toughest, most anti-Western rhetoric to date.
Recent developments have raised fears of all-out conflict between Russia and the West.
The leaders of Czechia, Estonia, Latvia, Lithuania, North Macedonia, Montenegro, Poland, Romania and Slovakia issued a joint statement backing a path to NATO membership for Ukraine, and calling on all 30 members of the U.S.-led security bloc to ramp up military aid for Kyiv.
German Defense Minister Christine Lambrecht, meanwhile, on Sunday announced the delivery of 16 wheeled armored howitzers produced in Slovakia to Ukraine next year. The weapons will be financed jointly with Denmark, Norway and Germany,
Russia on Sunday moved ahead with steps meant to make its land grab look like a legal process aimed at helping people persecuted by Ukraine, with rubber-stamp approval by the Constitutional Court and draft laws being pushed through the Kremlin-friendly parliament. Outside Russia, the annexation has been widely denounced as violating international law.
Meanwhile, international concerns are mounting about the fate of Europe’s largest nuclear plant after Russian forces detained its director for alleged questioning.
The International Atomic Energy Agency announced Sunday that its director-general, Rafael Grossi would visit Kyiv and Moscow in the coming days to discuss the situation around the Zaporizhzhia nuclear power plant. Grossi is continuing to push for “a nuclear safety and security zone” around the site.
The Zaporizhzhia plant is in one of the four regions that Moscow illegally annexed on Friday, and repeatedly has been caught in the crossfire of the war. Ukrainian technicians have continued running the power station after Russian troops seized it, and its last reactor was shut down in September as a precautionary measure.
Pope Francis on Sunday decried Russia’s nuclear threats and appealed to Putin to stop “this spiral of violence and death.”
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Follow AP’s coverage of the war in Ukraine at https://apnews.com/hub/russia-ukraine
MINNEAPOLIS — Chinese billionaire and JD.com founder Richard Liu agreed to settle a lawsuit filed by a former University of Minnesota student who alleged he raped her in her Minneapolis apartment after a night of dinner and drinks with wealthy Chinese executives in 2018, attorneys for both sides announced Saturday.
Richard Liu, who stepped down as the CEO of Beijing-based e-commerce company JD.com this year amid increased government scrutiny of China’s technology industry, has denied raping the woman, Jingyao Liu.
In a joint statement released Saturday night, attorneys for both sides said: “The incident between Ms. Jingyao Liu and Mr. Richard Liu in Minnesota in 2018 resulted in a misunderstanding that has consumed substantial public attention and brought profound suffering to the parties and their families. Today, the parties agreed to set aside their differences, and settle their legal dispute in order to avoid further pain and suffering caused by the lawsuit.”
A settlement amount was not disclosed. The settlement was announced just two days before a trial was set to begin in a Minneapolis courtroom.
Richard Liu was arrested on suspicion of felony rape in August 2018, but prosecutors said the case had “profound evidentiary problems” and declined to file criminal charges.
Jingyao Liu sued Richard Liu in 2019, saying he and the other businessmen coerced her to drink alcohol at a group dinner, and that he forced himself on her in his vehicle and later raped her in her apartment.
PARIS — A giant, glowing crystal rock upon a sand-colored carpet evoked a glamorous alien planet for Hermes’ champagne-sipping VIP guests.
Earthen hues like browns, reds and yellows — colors long-associated with the heritage brand — were used at Saturday’s show to create Nadège Vanhee-Cybulski’s utilitarian, low-key yet luxuriant universe for spring.
Elsewhere, Ukraine’s top fashion designers used the platform of Paris Fashion Week to promote their war-battered industry.
Here are some highlights of the day’s spring-summer 2023 collections in Paris:
HERMES’ SUBTLE STRINGS
It was a Vanhee-Cybulski minimalist take on the 80s.
The lone pulsating crystal that glowed color from the center of the runway established the collection’s key idea: Simplicity is powerful.
As the show took off, the odd utilitarian features — such as toggles and the strange, perplexing box platform shoes that stomped throughout — were used with subtlety but aplomb.
It gave a sporty and outer-space feel to the collection’s stylish, almost empty, restraint — a mood that now defines the talented 44-year-old French designer’s repertoire.
Tan suede tunic minidresses sported beautiful, braided leather hems — showcased without jewelry on a makeup-less model. While, exposed midriffs latticed with cords and toggles came on otherwise unfussy slim silhouettes.
UKRAINE’S “GOOD SIX” DESIGNERS SHOW UNITED FRONT
Last season in Paris, the Ukrainian designers trade fair event took place just two days before Russia’s invasion amid stories of some artists fleeing the country so rapidly they had only their children and their collection in hand.
This season sees no improvement back home for the industry: It’s been battered by increased financial strains as designers try hard to maintain employed staff despite little money, a decrease in demand and ravished supply chains.
A collective of these designer-survivors is showing in Paris beginning Saturday until Oct.6.
Jen Sidary, the collective’s head, said “in my 30 years of working in the fashion industry, I have never witnessed the resilience of a country and its people as they began to focus on keeping their businesses alive, days into the war, from bomb shelters to designing new collections amidst constant air raid sirens.”
The six making up the Paris Fashion Week event — Frolov, Kachorovska, Chereshnivska, Litkovska, My Sleeping Gypsy and Oliz — are showcasing unisex apparel, footwear and scarves. It’s a bid to keep their ravaged industry alive, and form of resistance against the Russian bombs decimating their homeland.
Many of their colleagues back home in Ukraine have had to repurpose their operations to help the war effort, relocating within the country, according to Sidary.
The courage of the Ukraine fashion industry has drawn international attention.
USAID Project Manager Natalia Petrova spoke of the “remarkable resilience, commitment and awareness” of Ukrainian businesses since Russia’s invasion of Ukraine.
“Disruptions on the domestic market caused by decrease in demand by population and broken supply chains, are pushing companies to explore export opportunities to diversify their sales,” she added.
ANDREAS KRONTHALER FOR VIVIENNE WESTWOOD
Kink mated with art in the typically quirky fare from Kronthaler — a staple show where a fashion surprise is all but expected.
With his usual encyclopedic flair, Kronthaler wove an aesthetic from yesteryear — medieval and renaissance nobles and peasants — into his drape-heavy silhouettes. Guests almost felt like they were at the theater.
Juliette sleeves mixed with black Renaissance tarbuds, decorated collars and even one wacky but stylish blue loose tuxedo look that could have been worn by the Bard himself. Of course, Kronthaler accessorized it anachronistically with pale blue striped rugby socks. Added to the creative cauldron were chunky Glam Rock boots and a Highlands kilt style with white trimming at the male model’s nether regions, making it look like they might have gotten a front bite.
The opening image of Irina Shayk, often voted among the most beautiful models in the world, in a shiny black bustier and silver-ring earrings riffing off S&M will surely be one picture few quickly forget.
ELIE SAAB REVISITS THE 60s
The late 1960s got a facelift on Saturday in a collection that featured babydoll dresses, miniskirts, psychedelia, crop-tops and jabot collars — but never lost that floaty, contemporary Saab touch.
The first look from Saab at his Paris fashion show fused a 1960s angelic-white crop top and a maxi skirt with an ethnic look, thanks to a construction of interlocking motifs. This fusion of different eras continued throughout the show, which sent out 68 items.
Lace detailing was a big theme and became the front of a baggy pale tracksuit top. In an anachronism that defined this Saab spring aesthetic, it was worn alongside a sheer 1990s’ tulle skirt. It had a great swag and could have very well been seen at a music festival in that decade.
Flashes of Barbie pink and citrus contrasted with psychedelic stripes on column silhouettes, sometimes making it feel like Saab was trying to put too much in the mix. The collection was ultimately hard to pin down.
NEW DELHI — Prime Minister Narendra Modi launched 5G services in India on Saturday, calling it a “step towards the new era.”
The launch in select cities will cover the entire country over the next couple of years, a government statement said.
Modi launched the much-awaited services that aim to provide seamless coverage, high data rate, less delay in internet connectivity and highly reliable communications in presence of India’s telecom leaders in New Delhi.
“This event will be etched in history,” Modi said at the launch. He said it was a “step towards the new era in the country” and “the beginning of infinite opportunities.”
Bharti Airtel is rolling out its 5G services in eight cities on Saturday and has set March 2024 as the deadline for countrywide coverage for as many as 5,000 towns.
Reliance Jio telecom company plans to start from four metropolitan areas in October and hopes to reach most cities and towns in 18 months.
The government said that the cumulative economic impact of 5G on India is expected to reach $450 billion by 2035.
Research agency OMDIA projects that with 369 million 5G subscriptions — over half the total global 5G subscriptions currently — India will be just behind China and the U.S. in world rankings by 2026. India would have ousted Japan from the third spot with 147 million customers, according to Business Standard newspaper.
Your Medicare card is a very important piece of identification. It’s proof of your health insurance benefits.
You’re often required to present your Medicare card when seeking care. Without it, you could end up paying a lot more out of pocket.
You’ll receive your card in the mail along with your “Welcome to Medicare” packet when you first enroll in the federal Medicare program.
Medicare enrollment happens automatically if you already receive Social Security benefits when you turn 65. Otherwise, you need to sign up for Medicare on your own.
But how do you get a replacement if your Medicare card is lost, stolen or damaged?
The process is easy, so there’s no reason to put off getting your card replaced.
Here’s how it works.
Need a refresher on Medicare? Check out these seven frequently asked questions on how Medicare works.
3 Ways to Get a Medicare Card Replacement
There are three main ways to replace your Medicare card if your original is lost, stolen or damaged.
Log in to your MyMedicare account
Call 800-MEDICARE (800-633-4227)
Log in to your My Social Security Account
1. Log in to Your MyMedicare Account
This is the fastest way to order a replacement card. Simply login to your Medicare online account, then click Print my Medicare Card on the main page.
You’ll get a temporary replacement Medicare card online to print, and you can also request a new card be mailed to you.
If you don’t already have an online Medicare account, it’s easy to set one up. You’ll need your Medicare number, coverage start date, last name, zip code, birthday and email address.
2. Call 800-MEDICARE (800-633-4227)
Wait times may be long, but a customer service representative can order you a new card.
3. Log in to Your My Social Security Account
Once you’re logged in to your My Social Security account, go to the Medicare Enrollment Detail section and click on Replace Your Medicare Card. Then select Mail My Replacement Medicare Card.
This is a good option if you don’t already have an online Medicare account and can’t remember your Medicare card number.
If you receive Railroad Retirement Board benefits, you can call 877-722-5772 to get a replacement card.
Once you receive your card in the mail, you can start using it right away — no activation required.
Also, your Medicare card does not expire and you don’t need to “renew” it each year.
How to Get Other Health Insurance Cards Replaced
The methods above only apply to your red, white and blue Medicare card.
To get a replacement card for your Part D, Medicare Advantage or Medicaid plans, you’ll need to contact those providers directly.
You can find the contact information for your Medicare Advantage plan or Part D plan by logging into your online Medicare account.
It’s smart to keep a copy of these other health insurance cards in a safe place at home alongside other important documents — like your Social Security card. This way you have a backup in case your wallet is lost or stolen.
Make Sure Your Address Is Up to Date
Your new Medicare card will be mailed to the address on file with the Social Security Administration.
If you’ve moved recently, make sure you have accurate information on file with SSA. Otherwise, your new card will go to the wrong address.
You’ll also miss other important documents from Medicare, like your summary notices, which details the doctor visits, services and supplies billed to Medicare in your name every three months.
You can update your address in just a couple minutes through your My Social Security account.
Don’t have an online Social Security account? You can also call SSA’s national customer service line at 800-772-1213 to update your mailing address.
You’ll also need to update your address with the private insurance companies that administer other Medicare benefits:
Medicare supplement insurance policy, also known as Medigap
Part D prescription drug plan
Private insurance for specific areas such as dental, hearing and vision
How Long Does it Take to Get a Medicare Card Replacement?
It usually takes a month for your card to arrive in the mail at your address on file with the Social Security Administration.
If you need your card sooner, you can always print it from your Medicare account in a just a few minutes.
Pro Tip
Write down your Medicare number in a safe place for future reference. You don’t always need the physical card to get care and benefits.
Why Your Medicare Card Is Important
Your Medicare card is your key to health insurance coverage. It verifies your benefits and also allows providers to submit claims for your treatment.
You’ll need to present your card whenever you visit a health care provider, like your doctor or the ER.
You’ll also need the information on your card to join a Medicare health plan or prescription drug plan, or to buy a Medigap policy.
If you want to make changes to your coverage during Medicare open enrollment, you should have your Medicare card on hand.
Your Medicare card displays the following information:
Your name.
Your Medicare ID number, also known as your Medicare beneficiary identifier (MBI).
Start dates of your Part A and Part B coverage.
It’s important to keep your Medicare card safe. While Medicare cards no longer display your Social Security number, bad actors can still use your card number to commit Medicare identity theft.
Pro Tip
You can report Medicare identity theft and suspected fraud by calling the U.S. Health and Human Services hotline at 800-447-8477.
Rachel Christian is a Certified Educator in Personal Finance and a senior writer for The Penny Hoarder.
Federal safety regulators have recalled a slew of residential elevators over the years because of potentially deadly risks to children, and September is proving to be a case in point, with three such recalls issued this month alone.
All three recalls involve a problem that is relatively inexpensive to fix with space guards or electronic monitoring devices that deactivate the elevators after a child is detected in a gap between the inner and outer doors, according to the U.S. Consumer Product Safety Commission.
One of the recalls involves some of 15,200 residential elevators made by Custom Elevator, more than a year after a child was crushed to death after being trapped in one of the products, according to the agency and the company.
The 7-year-old died in an elevator at a beach rental home in North Carolina’s Outer Banks in July 2021. Found between the bottom of the elevator car and the home’s upper door frame, the boy’s neck was crushed after he apparently became trapped between the moving elevator’s inner accordion door and outer door. The death prompted the CPSC to urge Airbnb and other vacation rental platforms to take steps to protect young children from certain residential elevators.
The Custom Elevator recall, announced Thursday, is specific to elevators used in people’s homes and made by the Plumsteadville, Pennsylvania, company with either hydraulic drives or winding drum drives. The products were sold to contractors nationwide from 2003 through August 2022 for between $10,000 and $25,000, excluding installation costs.
Residential elevator with space between the exterior landing door and interior elevator car. A young child can become entrapped if there is a gap between the doors.
U.S. Consumer Product Safety Commission
People with the elevators should keep young children away from them and contact the company for free space guards to eliminate any dangerous gaps. Custom Elevator can be reached toll-free at (888) 443-2800 from 8 a.m. to 5 p.m. Eastern time Monday through Friday.
Another recall, also announced Friday, involves about 1,700 residential elevators made in Canada by Cambridge Elevating and sold nationwide from 1991 through August 2022 for between $12,000 and $60,000, including installation.
Space guards will be provided free of charge by the company, which can be reached at (866) 207-6551 from 8 a.m. to 5 p.m. Eastern time Monday through Friday. No injuries related to the Cambridge products have been reported, according to the recall notice.
Coastal Carolina Elevators in 2015 recalled about 240 residential elevators made by Cambridge Elevating after three reported incidents, including one that resulted in a catastrophic brain injury to a 10-year-old boy from Baltimore, Maryland.
Scenario depicting a child trapped between an exterior landing door and an interior elevator car door due to a dangerous gap. The exterior door locks the young child in the hazard space between the doors when the elevator is called to another floor, putting the child at risk of being crushed or pinned and suffering serious injuries or death.
U.S. Consumer Product Safety Commission
Earlier this month, on September 14, the CPSC said it had settled a claim against thyssenkrupp Access Corp., now known as TK Access Solutions, involving three incidents its elevators, including the 2017 death of a 2-year-old and a 2010 case that permanently disabled a 3-year-old.
As part of the settlement, the Grandview, Missouri-based company is recalling about 16,800 residential elevators to inspect them and install space guards, if needed. The recalled products sold for between $15,000 and $25,000 through 2012. Homeowners can call (800) 285-9862 from 9 a.m. to 5 p.m. Eastern Monday through Friday.
The hazard includes elevators made by other companies, with the Washington Post in July 2019 reporting that residential elevators at large had resulted in at least eight children dying and two seriously hurt since 1981.
After decades of lawsuits, the nation’s elevator safety code shrank the door gap in 2017, but the new rules only impacted new installations, leaving hundreds of thousands of existing elevators posing a deadly hazard for small bodies.
According to the CPSC, residential elevators are commonly found in multi-level homes, townhomes, vacation homes and rentals, as well as in large homes that were converted to inns or bed-and-breakfast hotels. But the elevators have proved heart-wrenching for some vacationing families.
Safety advocates have for years warned about catastrophes involving children and home elevators, including the parents of then-10-year-old Jordan Nelson, paralyzed in 2013 in an elevator accident at a beach house rented by his family in South Carolina. “He has these huge dimples, this bright smile and he just knew how to work it,” his mother told CBS News in 2014.
SACRAMENTO, Calif. — California Gov. Gavin Newsom on Friday announced that oil refineries could start selling more polluting winter-blend gasoline ahead of schedule to ease soaring fuel prices, directly contradicting his own goals for reducing climate pollutants.
The average cost of a gallon of gas was $6.30 in California on Friday, far above the national average of $3.80, according to AAA. Newsom administration officials said the difference between state prices and the national average has never been larger.
The Democratic governor also called on state lawmakers to pass a new tax on oil company profits and return the money to California taxpayers. Lawmakers don’t return to the Capitol until January, Newsom’s office provided few details on the proposal.
“They’re ripping you off,” he said of the oil industry in a video posted to Twitter.
Oil industry representatives said it is state regulations that cause higher prices in California than the rest of the country. The summer blend of gasoline that refineries are required by law to produce in the hotter months costs more money to make but is designed to limit pollutants like smog. Most refineries can’t switch to the winter blend until November.
Switching from the summer to winter blend would likely save consumers 15 to 20 cents per gallon, said Doug Shupe, a spokesman for the Southern California Automobile Club, an affiliate of AAA. Gas prices in Los Angeles are close to breaking a record of $6.46 set in June, he said.
“If these prices go up to $7 a gallon, a 15-cent drop is not really going to mean much to drivers,” Shupe said.
Prices are spiking in part due to limited supply because some oil refineries are offline due to routine maintenance or other problems, he said. The California Air Resources Board, which regulates refineries, said high prices could also be due to part to a refinery fire and Hurricane Ian.
It’s the latest spat between Newsom and the oil industry, which holds political and economic sway in California despite the state’s aggressive climate policies. But Newsom’s dual actions Friday also illustrate the complicated reality Newsom faces as he tries to wean the state off oil and gas while responding to economic reality.
Earlier this year, for example, Newsom’s administration turned to generators and power plants that run on fossil fuels to help avoid rolling power blackouts during a heat wave.
By urging air regulators to let oil companies switch to a winter blend earlier, Newsom is acknowledging that state rules play a role in prices, said Kara Greene, a spokeswoman for the Western States Petroleum Association.
Refineries typically perform maintenance in the spring or fall as they prepare to switch fuel blends, she said. It will take time for refineries to prepare the winter blend, and Newsom’s order may have little immediate effect, she said. If Newsom truly wanted to lower prices, he could suspend the state’s gas tax or relax other regulations, she said.
“It’s a conscious decision to try and put the responsibility back on the oil industry,” she said.
Newsom said he expected the relaxation of refinery rules to increase supplies by 5% to 10% because refiners have already started to produce and store the gas.
“Any impacts on air quality caused by this action are expected to be minimal and outweighed by the public interest in temporarily relaxing” the limits, the air board said in a statement.
Starting in January, oil companies will be required to disclose their monthly profits to the state under legislation Newsom recently signed. Consumer Watchdog called on Newsom earlier this week to call a special legislative session to approve a tax on those profits.
Jamie Court, the group’s president, said he applauded Newsom’s efforts to deal with “an industry that’s out of control.”
Democratic leaders in the state Legislature said a windfall tax on oil profits deserves “strong consideration,” while Republicans said Newsom should immediately suspend the state gas tax to provide relief.
Major oil companies saw record profits this summer, and the price of crude oil has dropped since the end of the summer.
The California Energy Commission on Friday wrote a letter to executives of five major oil companies asking why prices rose so dramatically, what actions the state could take to lower prices and why refinery inventory levels have dropped.
Greene, of the petroleum association, said California regulations raise the price of oil by just under $1 in California, but other observers say its lower. Court, of Consumer Watchdog, says its around 60 cents, while Severin Borenstein, an energy economist with the University of California, Berkeley, says its closer to 70 cents.
Borenstein has also identified an unexplained surcharge that he says has caused Californians billions of dollars since 2015.
Newsom in 2019 directed the state attorney general to look into whether oil companies were overcharging Californians. Attorney General Rob Bonta has said his office is still investigating.
When it comes to the cost of car batteries, electric vehicles take the trophy for the most expensive type. Depending on the make and model of your vehicle, a battery can run you between $4,000 and $20,000. If you own your electric vehicle long enough to need to replace the battery, this maintenance will be a major portion of the the total cost of owning a car.
Here’s a rundown on the average costs of electric car batteries.
Cost to replace electric car batteries
Electric car batteries are a cake of a different flavor altogether. Unlike traditional batteries and those used with hybrids, all-electric car batteries must be charged regularly. And similar to how our electronics start to lose their charge sooner over time, electric vehicle batteries also slowly degrade and lose their efficiency despite regular charging.
The good news here is that quality electric batteries can last a long time, with most electric car batteries driving 200,000-300,000 miles before needing to be replaced. The bad news is that when you do need to replace them, electric batteries can run you between $4,000 and $20,000.
The total cost for an electric battery depends on the car’s make and model and is likely to be related to the original cost of the car: The more expensive the electric vehicle, the more expensive the battery.
Discounted electric battery options
Remanufactured electric battery: Remanufactured batteries for electric cars offer cheaper alternatives for car owners. However, there aren’t a lot of options available for electric car owners who want to buy a cheaper battery outside of a dealership or mechanic shop. Even with a remanufactured battery, a Tesla battery replacement could run around $14,000.
Used electric battery: There are some used batteries out there for electric cars, but they come with the caveat that a battery’s charging history can affect its condition. If the previous owner didn’t follow best practices for charging the battery, it could have fewer miles left in it than you expect. But buying a used electric battery does save you money upfront, usually several thousand dollars, depending on the model.
Installation
As with other battery installations, you’ll need to account for labor charges as well, which can range from a few hours to several hours. And electric batteries sometimes require additional parts like connectors to install, which can add anywhere from $20-$200 on to your bill.
Brie and Camembert cheeses sold at retailers nationwide and in Mexico are being recalled due to a multistate listeria outbreak that has sickened six people, hospitalizing five of them, federal officials say.
Friday’s recall by Benton Harbor, Michigan-based Old Europe Cheese involves all of its Brie and Camembert products with “best by” dates through December 14, 2022, the company stated in a notice posted by the U.S. Food and Drug Administration. (See here for a detailed list of the recalled products, which involve more than 20 brands.)
The recalled cheeses were sold at supermarkets from August 1, 2022, through September 28, 2022. Those retailers likely included Albertsons, Athenian Foods, Fresh Thyme, Giant Foods, Harding’s, Lidl, Market Basket, Meijer, Price Chopper, Raley’s, Safeway, Save Mart, Sprouts, Stop & Shop and Whole Foods, the company said.
Image of one cheese product recalled on Friday by Old Europe Cheese of Benton Harbor, Michigan.
U.S. Food and Drug Administration
The FDA cautioned against eating any of the recalled cheeses in light of an outbreak of listeria infections in California, Georgia, Massachusetts, Michigan, New Jersey and Texas. Of the five people who provided information to the FDA, four reported eating Brie or Camembert cheese before becoming ill, said the agency, which is investigating the outbreak along with the Centers for Disease Control and Prevention.
Listeria infections can cause serious and sometimes fatal illness in young children, frail or elderly people, or others with weakened immune systems, according to the CDC. Healthy people may experience symptoms like high fever, severe headache and stomach pain. The organism can also cause miscarriages and stillbirths.
An estimated 1,600 Americans get listeriosis each year, and about 260 die, according to the CDC.
