The recent drop in mortgage interest rates to the lowest level since May 2023 has caused a significant surge in mortgage demand from both homebuyers and current homeowners. According to the Mortgage Bankers Association, total mortgage application volume rose 6.9% last week compared to the previous week. This increase in volume was the highest level
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Sony’s finance chief recently announced that the company will not be pursuing a fresh bid for film and TV production group Paramount Global. Despite previous interest, Sony’s Chief Financial Officer, Hiroki Totoki, stated that acquiring Paramount does not align with the company’s current strategy. The decision comes after independent film studio Skydance Media finalized a
The recent weaker-than-expected economic data has sparked discussions about whether the U.S. Federal Reserve should consider making an emergency rate cut. Claudia Sahm, chief economist at New Century Advisors, believes that while there is no immediate need for an emergency cut, there is a strong case for a 50-basis-point reduction in interest rates. Sahm argues
In today’s volatile market, investors are looking for ways to navigate the uncertainties and risks. One strategy that is gaining traction is the use of bonds. Joanna Gallegos, the co-founder, and CEO of BondBloxx, emphasizes the importance of prioritizing income and high-yield bonds. She suggests that investors start looking at fixed income as a way
Recently, Disney announced that it will be increasing the prices of its streaming platforms such as Disney+, Hulu, and ESPN+. The price increments are set to take effect in mid-October and will range from $1 to $6 per month, depending on the specific plan. This decision comes as Disney aims to maximize revenue and profitability
The recent data from the Bureau of Labor Statistics has revealed a concerning trend in the labor market – the rise in marginally attached workers. These individuals, who are willing to work but have not actively searched for a job in the past four weeks, are at risk of becoming disconnected from the workforce altogether.
Yum Brands, the parent company of Pizza Hut and KFC, recently reported a mixed quarter as both of these brands experienced declining same-store sales. The CEO, David Gibbs, attributed these challenges to the impacts of the Middle East conflict and a more cost-conscious consumer base. This has created headwinds for same-store sales at both Pizza
Uber recently released its second-quarter earnings report, surpassing Wall Street estimates and causing a 4% increase in its stock price during premarket trading. Earnings per share came in at 47 cents, beating the expected 31 cents, while the revenue reached $10.7 billion, slightly higher than the anticipated $10.57 billion. This represented a 16% growth from