Homebuyers with good credit scores will soon be facing higher mortgage fees as the Biden administration seeks to close the racial homeownership gap and get more first-time and low-income buyers through the door. Starting in May, a new federal rule will upend the current structure of the Loan-Level Price Adjustment (LLPA) matrix. Homebuyers with a […]
Category: Business
1 in 5 Use Buy Now, Pay Later to Afford Groceries
Faith Smith was already stretching her $500 monthly grocery budget as far as it could go. Then her phone lit up with an imperfect solution. She got a notification that Target Corp. would allow her to use “buy now, pay later” apps, which let consumers pay for goods in chunks over the course of several […]
Huge Spacex Rocket ‘Starship’ To Launch Soon
In South Texas, the commercial spaceflight company SpaceX is preparing to test a huge, stainless-steel rocket. The machine could one day carry humans to the moon, Mars and beyond. But first, it has to fly. “It’s a very complex machine; it has so many different components,” says Paulo Lozano, director of MIT’s space propulsion laboratory. […]
New Car loans are getting impossible to pay
You’ve managed to buy the car, but can you afford to keep paying for it? Along with soaring car prices, loan rates are the most expensive they’ve been in more than 15 years, with the average monthly payment on a new car at an all-time high, new data from auto website Edmunds shows. The result […]
Who will pay the $22 BN it took to rescue 2 banks?
Freedom Bank was founded two decades ago in Montana’s Flathead Valley, an area well known for fly fishing and whitewater rafting that is a world away from Silicon Valley. The community lender has built its business by catering to locals, offering a mix of mortgages, car loans and commercial loans from its home base in […]
Anheuser-Busch loses $6BN in six days
The ill-fated marketing partnership between beer giant Bud Light and trans influencer Dylan Mulvaney was launched without approval from senior executives of parent company Anheuser Busch (AB), according to a new report. The partnership unveiled on April 2 drew intense backlash from some quarters, with musician Kid Rock posting a video of himself shooting at […]
Biden’s new auto emission rules force U.S. into EV
The Biden administration unveiled the most aggressive tailpipe emissions ever crafted as part of its sweeping climate agenda and efforts to push Americans to buy electric vehicles (EV). The vehicle pollution standards, proposed Wednesday by the Environmental Protection Agency (EPA) and announced by the White House, will impact car model years 2027 through 2032. The […]
Customers need restroom after Starbucks’ new olive infused drink
Starbucks is betting big on olive oil infused coffee, hoping customers will be enticed by the anomaly and the health benefits of extra virgin olive oil. “It is one of the biggest launches we’ve had in decades,” Brady Brewer, Starbucks’ chief marketing officer, told CNN. Former CEO Howard Schultz added in an interview with Poppy […]
Apple & Disney merger would create behemoth
Business titans Apple and Disney could be merging into one gargantuan company, which experts believe will benefit both companies. Apple, Inc. and The Walt Disney Co. have a longstanding relationship, personified by the fact that returning Disney CEO Bob Iger was friends with the late Apple founder Steve Jobs. While Apple and Disney are perceived […]
U.S. job market is cooling
The U.S. job market is showing signs of softening as rising interest rates and slowing economic growth begin to take their toll on hiring. Employers added 236,000 jobs in March, according to a report from the Labor Department Friday. That’s down from 326,000 jobs that were added the month before. The unemployment rate dipped to […]
US economy is unwell, April could be a horror
After months of a remarkably strong US labor market and economy, everything seems to be slowing down. The latest high-frequency data shows that the consumer could be running out of steam, hiring activity is moderating, business activity is softening, interest-rate sensitive sectors are pulling back and housing is suffering. The question is whether Friday’s monthly […]
Is the end in sight for full time remote work?
Amid countless layoffs, calls from corporate chieftains to return to the office and the pendulum of power swinging back to employers, it may feel like the work-from-home era is coming to an end. But while the practice is shrinking, it’s also showing resilience, with about a third of workers in jobs that can be done […]