Real estate stocks have faced an uphill battle ever since the Federal Reserve began raising interest rates in 2022. Increased interest rates have affected borrowing costs and the overall demand for real estate, leading to a challenging environment for real estate investors and homebuyers.Redfin (NASDAQ: RDFN) is one company that has faced significant challenges due to the sharp decline in housing activity. The real estate company has reduced expenses and discontinued unprofitable ventures to adapt to the tough environment. It has also implemented changes to attract more agents to its platform as it anticipates a pickup in housing activity.The good…
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Was North Wilkesboro Speedway home base for some moonshine runners after all?Speedway Motorsports Inc. officials have unearthed the possibility.During last week’s grandstand cleaning and inspection process of North Wilkesboro Speedway — the long-abandoned racetrack in the foothills of North Carolina that was resurrected for last year’s NASCAR All-Star Race — SMI operations staff discovered cracks in the original concrete, according to a press release. Crews then began removing seats to evaluate the extent of the damage and came upon an open area of approximately 700-square-feet underneath the concrete — a cave, if you will.No moonshine still has been found, officials…
HONG KONG (AP) — Global stocks were mixed Friday after stocks in the United States pulled closer to their record… HONG KONG (AP) — Global stocks were mixed Friday after stocks in the United States pulled closer to their record highs following economic reports that came in close to expectations. European markets were mostly higher in early trading Friday after the European Central Bank reduced interest rates again on Thursday to support sluggish growth as inflation continues to subside. France’s CAC 40 rose 0.3% to 7,454.10, and Germany’s DAX added 0.4% to 18,595.43. Britain’s FTSE 100 edged down 0.1% to…
Short Term Elliott Wave view on DAX suggests that the Index is correcting cycle from 8.5.2024 low in 3, 7, or 11 swing before it resumes higher. The pullback on 8.5.2024 towards 17024.6 ended wave ((4)). The Index has turned higher in wave ((5)) with internal subdivision as an impulse Elliott Wave structure. Up from wave ((4)), wave ((i)) ended at 17505.23 and wave ((ii)) pullback ended at 17233.07. Wave ((iii)) higher ended at 17666.82 and pullback in wave ((iv)) ended at 17439.87. Wave ((v)) higher ended at 18920.1 which completed wave 1 in higher degree. Dips in wave 2…
Four-member K-pop band Blackpink, which debuted in 2016, is now planning a new album and world tour with YG Entertainment. Photo: Image Press Agency/Alamy Live News (Image Press Agency, Image Press Agency)YG Entertainment (122870.KQ)YG Entertainment Inc. has confirmed that all four members of K-Pop group Blackpink have renewed their contracts with the agency amid concerns about the band’s split.The new contract is believed to be among the most lucrative signed by any music group this year.Shares surged almost 26% on the back of the news, the biggest daily jump since it went public in 2011.It comes as Blackpink, a four-member…
Analysis by Chris Isidore, CNN New York (CNN) — The Dow Jones Industrial Average is supposed to represent the 30 companies that are cornerstones of the US economy, those whose success makes them stand out from their peers on the New York Stock Exchange and Nasdaq. For most of the last five years, that has not described Boeing (BA). And so it’s a legitimate question if the aircraft maker still belongs in the blue-chip index. And it’s a question with only one correct answer: No. “If you want bellwether, strong balance sheet companies, they don’t check those boxes any longer,”…
The European Central Bank (ECB) yesterday lowered its deposit facility rate by 25bp for the second time this year (and its other two rates by 60bp, but that was just a technical twist that meant to narrow the spread between the deposit facility and the main refinancing rate from 50 to 15bp, so don’t be confused: it was not an additional easing and didn’t see any sharp reaction from the market). But ECB Chief Christine Lagarde kept a poker face for what’s next and said that there is no commitment to a particular rate path. And the updated forecasts didn’t…
(Bloomberg) — China suspended the operations of PricewaterhouseCoopers LLP for six months and imposed a record fine over lapses in its auditing of China Evergrande Group.Most Read from BloombergThe accounting firm was fined a total of 441 million yuan ($62 million), according to statements by the Ministry of Finance and the China Securities Regulatory Commission released Friday. The regulator also revoked the license of its Guangzhou branch, the main auditor of Evergrande’s inflated financial reports from 2018 to 2020.PwC has been under the spotlight after China launched one of the biggest investigations of financial fraud in history. Authorities said developer…
(Bloomberg) — India’s government is ready to offer the Maldives emergency financial support to help ease the island nation’s financial woes as risks of the first sukuk default loom, people familiar with the matter said.Most Read from BloombergThe Maldives can immediately tap $400 million available under the Reserve Bank of India’s currency swap program that’s open to regional countries, Indian officials said, asking not to be identified before a final decision is made. The country can also seek long-term loans under a $800 million line of credit extended to the government in 2019, the people said.It’s unclear if the Maldives…
As usual, the existential issue of climate change got short shrift during Tuesday’s presidential debate. Kamala Harris retreated to the middle, bragging about record oil production under the Biden administration, while Donald Trump offered his usual word salad. (Slate) A New York Times reporter who’s been covering self-driving cars for a decade explains firsthand why they still need human help. Global banks have helped fossil fuel companies hide almost $7 billion in tax havens, according to a new study. (Reuters) For families that live in urban areas, biking and walking around the city instead of driving is good for your…