(Reuters) – The average interest rate on the most popular U.S. home loan rose to its highest level since 2006 as the housing sector continued to bear the brunt of tightening financial conditions, data from the Mortgage Bankers Association (MBA) showed on Wednesday. Mortgage rates have more than doubled since the beginning of the year…
WASHINGTON (AP) — U.S. Treasury Secretary Janet Yellen sought Wednesday to project confidence in the U.S. financial outlook while pledging vigilance in responding to “risks on the horizon.” She is offering that message as global finance leaders gather in Washington to discuss the increasingly dismal view of the global economy. “Our economy remains resilient in…
WASHINGTON (AP) — Federal Reserve officials at their last meeting stressed their commitment to taming “unacceptably high’’ inflation before announcing that they were raising their benchmark interest rate by a substantial three-quarters of a point for a third straight time and signaling more large rate hikes ahead. In minutes from their Sept. 20-21 meeting released…
By Trevor Hunnicutt WASHINGTON (Reuters) -The Biden administration is weighing restricting imports of Russian aluminum as it charts possible responses to Moscow’s military escalation in Ukraine, a person briefed on the conversations told Reuters. Such a move, which has not been finalized, would likely boost global prices for the metal used in a wide range…
BRUSSELS (Reuters) – The European Commission has approved the proposed $11 billion acquisition of Dupont’s mobility and materials business by U.S. chemicals company Celanese Corp, on the condition that the latter divests a plastics-producing business. Celanese announced the deal in February but had to offer remedies to address EU antitrust concerns. The combined entity would…
A specialist in plastic waste management, artists, musicians, computer scientists, and a poet-ornithologist who advocates for Black people in nature are among this year’s 25 winners of the John D. and Catherine T. MacArthur Foundation’s prestigious fellowships known as “genius grants” that honor discipline-bending and society-changing people whose work offers inspiration and insight. The Chicago-based…
LONDON (Reuters) – Aluminium prices on the London Metal Exchange (LME) soared on Wednesday after Bloomberg reported that the United States was considering a ban on Russian aluminium in response to the conflict in Ukraine. Benchmark aluminium was up 3.3% at $2,309 a tonne at 1612 GMT after briefly spiking 7.3% to $2,400 a tonne….
WASHINGTON (Reuters) -The Biden administration is considering a complete ban on Russian aluminum in response to Russia’s military escalation in Ukraine, Bloomberg reported on Wednesday. The White House is weighing an outright ban, raising tariffs to levels so punitive they would impose an effective ban, or sanctioning United Co Rusal International PJSC, the company that…
The Bezos Family Foundation announced a $710 million gift to the Seattle-based Fred Hutchinson Cancer Center, the largest gift the center has ever received and one of the largest to go to any single cancer research organization in recent years. The donation will fund 36 new research labs, the building of a large research facility,…
LONDON (AP) — Prime Minister Liz Truss took office last month promising to reenergize the British economy and put the nation on a path to “long-term success.” Instead, her tenure so far has been marred by turmoil as mortgage rates soared, the pound fell to record lows and chaos in bond markets threatened the country’s…
