Tag Archives: largest

Mortgage rates plunged by nearly a half-percent this week, marking the largest week-over-week decline since November 1981. The rate on the average 30-year fixed mortgage fell to 6.61% from 7.08% the week prior, according to Freddie Mac, which this week changed its methodology calculating rates. The drop follows a sharp decline in the yield on the 10-year Treasury last week after a government showed inflation cooled last month. The sudden decrease gave price-strained homebuyers and sellers… Source link

The largest U.S. homebuilder offered up the latest examples of how quickly buyers are fleeing the housing market. Buyers canceled nearly a third of deals in D.R. Horton Inc.’s (DHI) fiscal fourth quarter, up from 19% a year ago, the Texas-based company said Wednesday. New orders declined 15% to 13,582 homes from a year earlier, down by 10% in value. The company is responding by walking away from land deals that don’t meet certain metrics as the market has shifted, writing off $34 million of… Source link

The global net-zero goals set out by the Paris Agreement are still within reach — but achieving them will require a $100 trillion investment, according to a new report by BNY Mellon Investment Management and Fathom Consulting. That amount equates to around 15% of all global investment or 3% of global GDP over the next 30 years in order to achieve net zero emissions by 2050 and limit warming to 2 degrees Celsius or below, per the Paris Agreement Accord established in 2015. And the more… Source link

‘The world should be worried’: Saudi Aramco — the world’s largest oil producer — just issued a dire warning over ‘extremely low’ capacity. Here are 3 stocks for protection The global oil market remains tight according to Saudi Aramco, the largest oil producer in the world. And that does not bode well for a world that still relies heavily on fossil fuels. “Today there is spare capacity that is extremely low,” Saudi Aramco CEO Amin Nasser says at a conference in London. “If China… Source link

In the eyes of the world’s top chess player, 19-year-old chess grandmaster Hans Niemann is a cheater. The world’s top chess website apparently agrees. An investigation conducted by Chess.com into the cheating allegations against Niemann found the American to have cheated in more than 100 games on the platform until he was banned in 2020, according to a report from the site published Tuesday. Niemann has been under fire since world chess champion Magnus Carlsen accused him of cheating in an… Source link

Photo: Andrey Popov/stock.adobe.com South Korea has issued its largest privacy fines ever to Google and Meta, parent company of the massively popular social apps Instagram and Facebook. Google and Meta are to pay up $50 million and $22 million, respectively. In a statement, the Personal Informational Protection Commission said that Google and Meta did not clearly inform users or obtain their consent as they collected information about their online… Source link

The number of Covid infections among Los Angeles-area Google employees nearly doubled over the weekend, according to the count on the county’s official Covid workplace outbreak site. On Friday, Deadline reported that the tech giant’s stylish Silicon Beach campus in Venice had recorded 145 infections. This morning, the L.A. County Public Health dashboard showed another 135 newly-tallied cases at the company’s massive Playa Vista complex. (There were another another 15 infections… Source link

Deshaun Watson will serve an 11-game suspension and pay a $5 million fine for multiple violations of the league’s personal conduct policy in what amounts to one of the most significant penalties in NFL history, sources have confirmed to Yahoo Sports. The Cleveland Browns quarterback and the NFL have settled his disciplinary case prior to a final ruling by arbitrator Peter C. Harvey, following an agreement between the two sides on Thursday. The fine is the steepest ever levied against an NFL… Source link

BlackRock (BLK) has downgraded its outlook for stocks amid increasing economic uncertainty and persistent inflation. Strategists at BlackRock’s Investment Institute said Monday the firm cut its exposure to developed market equities, citing aggressive intervention by central banks to tame rising prices across the global economy. “Right now, we think the Fed has boxed itself in by responding to political pressures to rein in inflation,” strategists led by Jean Boivin said in a note… Source link

The Federal Reserve on Wednesday raised short-term interest rates by 0.50%, as part of an effort to tamp down the inflationary pressures weighing on Americans. The central bank suggested that it will further raise borrowing costs throughout this year as it attempts to undo its pandemic-era, easy money policies. The policy-setting Federal Open Market Committee also detailed plans on unwinding its nearly $9 trillion balance sheet. The decision to raise rates by 0.50% marked the most aggressive… Source link