WASHINGTON (Reuters) – U.S. existing home sales tumbled to a two-year low in May as prices jumped to a record high – topping the $400,000 mark for the first time – and as mortgage interest rates increased further, sidelining first-time buyers from the market. Existing home sales fell 3.4% to a seasonally adjusted annual rate…
Sales of previously occupied U.S. homes slowed for the fourth consecutive month as climbing mortgage rates and record high prices discouraged house hunters. Existing home sales fell 3.4% last month from April to a seasonally adjusted annual rate of 5.41 million, the National Association of Realtors said Tuesday. That annual sales pace was higher than…
Market Recap Markets endured its worst week since March of 2020. The move comes as we exit the artificial world of predictable massive liquidity injections. The S&P tumbled -5.8%, while the Dow and Nasdaq both declined -4.8%. The Dow fell below the 30,000-psyche level for the first time since January of 2021. Small caps were…
WASHINGTON (Reuters) – The U.S. Supreme Court on Tuesday rejected Bayer AG’s bid to dismiss legal claims by customers who contend its Roundup weedkiller causes cancer as the German company seeks to avoid potentially billions of dollars in damages. The justices turned away a Bayer appeal and left in place a lower court decision that…
Charitable giving in the United States reached a record $485 billion in 2021, though the increase did not keep pace with inflation, according to a report Tuesday offering a comprehensive look at American philanthropy. The Giving USA report says donations in 2021 were 4% higher than the record-setting $466 billion contributed in 2020. But they…
BERLIN (Reuters) – Germany’s government will not agree to European Union plans to effectively ban the sale of new cars with combustion engines from 2035, Finance Minister Christian Lindner said on Tuesday. In its bid to cut planet-warming emissions by 55% by 2030 from 1990 levels, the European Commission has proposed a 100% reduction in…
By Devik Jain and Anisha Sircar (Reuters) -U.S. stock indexes were set to open higher on Tuesday as investors returned from a long weekend to scoop up shares of megacap growth companies and banks that were hammered in a rout last week on worries over a global economic downturn. Each of the three major Wall…
By Huw Jones LONDON (Reuters) -Britain’s payment systems regulator (PSR) will conduct two market reviews of card fees charged by Visa and Mastercard, the U.S. companies that account for 99% of debit and credit card payments in the UK. The PSR’s announcement on Tuesday follows heavy pressure from lawmakers to launch full market reviews to…
PARIS (AP) — President Emmanuel Macron held talks Tuesday with France’s main party leaders in a bid to show he is open to dialogue after his centrist alliance failed to win an absolute majority in parliamentary elections. The meetings at the Elysee presidential palace come after Prime Minister Elisabeth Borne formally offered her resignation Tuesday,…
(Reuters) -Kellogg said on Tuesday it was splitting into three independent companies by spinning off its North American cereal and plant-based foods businesses, becoming the latest big U.S. firm to break itself up. Shares of the company, which began life in 1894 when W.K Kellogg created Corn Flakes and became known around the world for…
