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U.S. consumers have begun to feel reverberations from the Federal Reserve’s interest rate hike earlier this month in some areas of their lives, but not in others. Unfortunately for those consumers, it’s all the wrong places — their savings accounts haven’t budged. Mortgage rates jumped immediately from 4.16% to around 4.5%, and are now ticking up close to 5%. This sent the number of applications down 8.1% the following week, according to the Mortgage Bankers Association. The average… Source link

Droplets Inc. is owed $15 million because Yahoo! Inc.’s Search Suggest feature infringes one of the company’s patents, a California federal jury found. Search Suggest offers suggestions when people type words into the Yahoo search bar. The jury decided Tuesday other Yahoo products, including Yahoo’s Search History feature, Yahoo Mail, and Yahoo Maps didn’t infringe Droplet’s U.S. Patent No. 6,687,745, covering a system for delivering interactive links. Texas-based Droplets filed the… Source link

U.S. private sector employers brought back slightly more jobs than expected in March as the economy faced ongoing labor shortages and widespread vacancies. Private sector payrolls rose by 455,000 in this past month, ADP said in its latest report Wednesday. Consensus economists were looking for 450,000 jobs to return, according to Bloomberg data. In February, employers brought back 486,000 payrolls, based on ADP’s upwardly revised monthly print. The private services sector saw jobs return… Source link

Bruising levels of inflation from rent to gas to food continues to hit many American households hard, so hard it may be pushing a new group of the population into food stamps, hints new data. Google search volumes for “food stamps” are still running 100% higher than pre-pandemic levels (see chart below), according to DataTrek. Search volumes have trended higher since the start of 2022 as inflation has accelerated, notably at the gas pump. Volumes peaked in April 2020 as millions of people lost… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Wednesday, March 30, 2022 There have been a lot of news headlines weighing on markets over the last month. But the two biggest ones are: As we prepare to flip the calendar into April, markets remain fixated on both stories. But which one remains the bigger risk? That depends on who you ask. The common talking point at the beginning of the war in… Source link

Utah Jazz guard Trent Forrest left their game against the Los Angeles Clippers early on Tuesday night after teammate Rudy Gobert accidentally smacked him in the face. Forrest was ruled out of the game quickly, and was taken to a local hospital to be evaluated for a concussion. Forest was under the rim in the opening minutes of the second quarter at Crypto.com Arena and behind Gobert, who was fighting for position with Clippers big man Isaiah Hartenstein. Gobert stumbled back after a shove from… Source link

Former UFC fighter and ESPN analyst Chael Sonnen told police that he doesn’t remember the incident in a Las Vegas hotel last year that , . , including one felony battery by strangulation, last week after he allegedly punched or kicked five different men in Las Vegas on Dec. 18. Sonnen told police that both he and his wife had taken Ambien and “did not have memory of anything,” . He also apparently asked police if everyone was OK multiple times. His wife, Brittany, told police she was… Source link

PALM BEACH, Fla. — Deshaun Watson won’t be going on the NFL commissioner’s exempt list while the league investigates 22 civil lawsuits pending against the Cleveland Browns quarterback. Instead, any suspension or fine for Watson — if the NFL believes punishment is warranted — will be settled at the conclusion of the league’s ongoing probe. But there’s a sizable change awaiting Watson that stems from the collective bargaining agreement renewed in 2020: Commissioner Roger Goodell… Source link

In the state of New York, if you want to receive public assistance — you know, money from state or local authorities to help keep a roof over heads or food in refrigerators — there are conditions that recipients must meet. And not just you, but any adult who lives with you. Can’t have poor people getting a free ride, you see, no matter how the system is set up to make sure the poor stay poor. When wealthy people want public assistance, well, that’s a different story. On Monday, New York… Source link

“The 360” shows you diverse perspectives on the day’s top stories and debates. What’s happening Earlier this month, Prince William and Kate embarked on a three-country tour of the Caribbean as part of an extended royal celebration of Queen Elizabeth II’s platinum jubilee commemorating her 70th year on the throne. The trip to Belize, Jamaica and the Bahamas — three of the 14 former colonies that officially still count the queen as their head of state — was marred by controversy… Source link