A man enters a Bank of America branch in New York. Scott Mlyn | CNBC As if higher mortgage rates weren’t enough, it was harder even to qualify for a mortgage in July than it has been in a decade, according to the Mortgage Bankers Association. Its monthly index measuring credit availability dropped in July
admin
Private phone booth at One Wall Street Courtesy: One Wall Street The latest must-have amenity in luxury New York City apartment buildings: a designated coworking space for remote workers. Apartment developers are building out private offices, conference rooms and even podcasting booths to capitalize on a lingering work-from-home trend. Even as workplaces reopen, 59% of
A “substantial number” of Puerto Rico Electric Power Authority bondholders agreed in principle to a settlement, the Puerto Rico Oversight Board announced Thursday afternoon. As a result, the board sought and received an extension to Aug. 18 for the deadline to submit a proposed plan of adjustment. Board Spokesman Matthias Rieker said the board wouldn’t
The White House’s supplemental funding request, sent to Congress yesterday, aims to pass $40 billion in additional funding measures and includes a $12 billion injection for the Federal Emergency Management Agency’s dwindling Disaster Relief Fund, but some are pushing for it to be considered as a standalone bill over fears that it could be held
Amtrak and Texas railroad company Texas Central announced Wednesday they’re eying a partnership to breathe life into a long-stalled and controversial bullet train between Houston and Dallas. “If we are going to add more high-speed rail to this country, the Dallas to Houston corridor is a compelling proposition and offers great potential,” Amtrak Senior Vice
Connecticut officials say a debt service reserve fund insurance policy allowed them to fund the state’s new baby bond trust without resorting to borrowing. Since July 1 newborns birthed under Connecticut’s Medicaid program, Husky, have been automatically enrolled in CT Baby Bonds and credited with $3,200 deposit that will be invested on their behalf. Between
Lithium-ion batteries have already changed the world, putting smartphones, laptops and wireless headphones in the hands of billions of people. Now they are triggering another revolution. The technology of choice both in electric cars and the nascent electricity storage industry, the cells will be a vital pillar in the global transition to a carbon-free economy.
Finland is unconcerned by Russia’s threat to bolster troop numbers along the border, the Nordic country’s foreign minister has said, adding that Moscow had left the frontier almost undefended following its full-scale invasion of Ukraine. Elina Valtonen told the Financial Times that the pledge made by Russian defence minister Sergei Shoigu to increase soldiers was
Inflated shipping costs are enabling Russian companies to earn far more from crude oil sales to India than previously recognised, according to a Financial Times analysis which suggests that the charges may have raised more than $1bn in a single quarter. Russia has, until recently, appeared to comply on this route with western measures designed
The rouble has fallen to a 16-month low against the dollar as a surge in Russian military spending and a collapse in export revenues add pressure to a currency suffering under western sanctions and an escalation of capital outflows. Russia’s currency has lost about 25 per cent of its value this year and traded below
Municipals were little changed Friday, once again ignoring losses in the U.S. Treasury and equity markets that were digesting higher-than-expected inflation data and macroeconomic concerns. While the consumer price index came in nearly as expected on Thursday, Friday’s producer price index came in higher than expected, leaving some analysts to fear more Federal Reserve rate
Hawaii Gov. Josh Green called the fires that have devastated Maui and resulted in 55 confirmed deaths, “likely the largest natural disaster in Hawaii state history.” The wildfires that started Tuesday on Maui have burned at least 20 square miles, 13,000 acres, including the coastal town of Lahaina, according to a live map created by
Saudi Arabia is pushing the UK, Japan and Italy to allow it to become a full partner in the landmark next-generation fighter jet project that the three countries signed in December. The request, confirmed by five senior officials in London, Tokyo and Rome, has already created strains within the tri-national alliance. While the UK and
Bitcoin miner Bitdeer Technologies, a firm spun-off from prominent Bitcoin Application-Specific Integrated Circuit (ASIC) manufacturer Bitmain, recorded a net loss of $40.4 million in Q2 2023, up from a net loss of $15.6 million in Q2 2022. The company disclosed in its earnings report published on Aug. 11 that the losses were largely attributed to
A Six Flags Great Adventure “Clean Team” crew member disinfects the Wonder Woman: Lasso of Truth ride every 30 minutes. Kenneth Kiesnoski/CNBC Check out the companies making headlines in premarket trading. UBS — Stock in the Swiss bank ticked up 4.6% before the opening bell following news that UBS ended a $10 billion loss protection
Those who have savored Cabo San Lucas and San Jose del Cabo, collectively known as Los Cabos, understand the appeal of this Mexican vacation wonderland at the tip of the Baja Peninsula. The destination enjoys 350 days of sunshine yearly, is within a three-hour drive of 24 U.S. cities and has seen tourism boom by
Country Garden Holdings Co.’s Fengming Haishang residential development in Shanghai, China, on Tuesday, July 12, 2022. Qilai Shen | Bloomberg | Getty Images Shares of beleaguered Chinese real estate company Country Garden Holdings slumped to an all-time low on Friday as the company issued a profit warning a day earlier. The stock fell to an
Municipals were slightly firmer Thursday, outperforming U.S. Treasuries, as the last large new-issues of the week priced and mutual fund inflows returned. U.S. Treasuries saw losses across the curve following the July inflation read while equities closed out the session in the black. While the consumer price index came in mostly as expected, analysts remain
Binance Labs, the venture arm of cryptocurrency exchange Binance, has invested $5 million in Curve (CRV), the namesake token of the decentralized stablecoin trading platform. “Curve is the largest stableswap and second-largest DEX [decentralized exchange], with approximately $2.4B in total value locked and $215M in daily volume at the time of writing,” Binance Labs said
Binance’s proprietary BNB Smart Chain (BSC) is set to undergo two hard forks through August 2023 that are aimed at reducing the possibility of a malicious blockchain reorganization and increasing the compatibility with other EVM blockchain networks. The Plato and Hertz upgrades are scheduled for Aug. 10 and Aug. 30 respectively, following extensive testing. The