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U.S. President Joe Biden speaks as he announces a new plan for federal student loan relief during a visit to Madison Area Technical College Truax Campus, in Madison, Wisconsin, U.S, April 8, 2024.Kevin Lamarque | ReutersFederal student loan payments for some 8 million borrowers will remain on pause for six months or longer, a spokesperson for the U.S. Department of Education said. The development on Monday comes as the Biden administration has been dragged into a slew of legal battles waged by Republicans over its recent student loan relief efforts. The borrowers who are excused from their monthly payments are those enrolled in the Biden administration's new SAVE plan. SAVE enrollees will be placed in an interest-free general forbearance, the Education Department spokesperson said.A federa...

Check out the companies making headlines in midday trading: Boeing — The stock climbed 3%. The aircraft maker reached a new contract proposal with its machinists' union, which could end a strike that has been going on for more than a month. The ratification vote is set for Wednesday. Warby Parker — The eyeglass maker and retailer gained nearly 6% after Goldman Sachs upgraded shares to a buy from a neutral rating , saying its margin growth potential and solid fundamentals support its "somewhat elevated" valuation. Cigna — The insurer's stock slid more than 4% after Bloomberg reported, citing people familiar with the matter, that Cigna has reignited merger discussions with Humana. Bloomberg's sources said the talks are still in early stages. Humana shares were also marginally lower on the he...

The Nasdaq MarketSite in New York, US, on Monday, Sept. 16, 2024. Yuki Iwamura | Bloomberg | Getty ImagesKKM Financial has converted its Essential 40 mutual fund into an ETF, joining the growing shift by asset managers to a more tax-efficient fund model.ETFs make it easier for investors and financial advisors with taxable accounts to choose when to create capital gains or losses. This differs from mutual funds, which can sometimes hit their investors with an unwanted tax bill due to withdrawals or portfolio changes."When you look at the tax efficiency of an ETF compared to a mutual fund, it is much more advantageous," said Jeff Kilburg, founder and CEO of KKM and a CNBC contributor. "A lot of the wealth advisors that I work with really have issues with the capital gain distribution typical...