(Reuters) – U.S. households expect home prices and rents to rise sharply this year, and while growth in both are then seen slowing, renters see their chances of ever owning a home fading fast, according to a new survey by the Federal Reserve Bank of New York. Home prices are expected to increase 7% in…
By Dietrich Knauth (Reuters) -Johnson & Johnson said on Monday it agreed to pay $99 million to settle claims by West Virginia that it helped fuel an opioid addiction crisis in the state, removing the company from an ongoing trial that began earlier this month. West Virginia is still pursuing claims against Teva Pharmaceuticals Industries…
BERLIN (AP) — Germany’s employers and unions have joined together in opposing an immediate European Union ban on natural gas imports from Russia over its invasion of Ukraine, saying such a move would lead to factory shutdowns and the loss of jobs in the bloc’s largest economy. “A rapid gas embargo would lead to loss…
By David Lawder and Andrea Shalal WASHINGTON (Reuters) -The World Bank is reducing its global growth forecast for 2022 by nearly a full percentage point, to 3.2% from 4.1%, due to the impacts from Russia’s invasion of Ukraine, World Bank President David Malpass said on Monday. Malpass told reporters on a conference call that the…
By Michelle Price and Elizabeth Dilts Marshall WASHINGTON (Reuters) – With soaring interest rates scaring off would-be mortgage borrowers, the outlook for banks’ home lending portfolios is gloomy, according to first quarter filings and analysts. The average interest rate on a 30-year fixed-rate mortgage, the most popular home loan, rose to 5.13% in the week…
WASHINGTON (AP) — The Supreme Court on Monday rejected a challenge from New York, New Jersey, Connecticut and Maryland to the 2017 tax law that capped federal tax deductions for state and local taxes. The lawsuit had previously been dismissed by lower courts. It argued that the Republican-led tax law, signed by then-President Donald Trump,…
(Reuters) – U.S. wireless carrier Verizon Communications Inc said on Monday it would raise the minimum wage of its new and existing customer service, retail and inside sales employees to $20 an hour amid a tight labor market and rising inflation. In recent months, U.S. retailer Walmart, drugstore chain Walgreen Boots Alliance Inc and restaurant…
I thought I knew all about the information that consumer reporting agencies were collecting on me. Then I discovered The Work Number — a database that reports every paycheck I’ve received from my company, with net and gross amounts, going back to my hire date six years ago. Another consumer reporting agency shows the results…
By Dietrich Knauth (Reuters) -Johnson & Johnson said on Monday it had agreed to pay $99 million to settle opioid-related claims by the state of West Virginia and its subdivisions. The settlement removes the company from an ongoing trial that began earlier this month in Kanawha County Circuit Court. West Virginia is still pursuing claims…
NEW YORK (AP) — Bank of America posted a 12% decline in first-quarter profits from a year earlier, a decline that was much less than the ones its rivals had reported the previous week. The nation’s second-largest bank was helped by higher net interest income and very modest exposure to Russian assets. The Charlotte, North…
