Summary List Placement The predicted baby boom is looking more like a baby bust. While many thought a year locked up would lead to some serious babymaking, Brookings Institute economists Melissa Kearney and Phillip Levine forecasted the opposite last June: The pandemic would lead to 300,000 to 500,000 fewer births in 2021, they said. So […]
Summary List Placement A congressional battle line was forming last week over former President Donald Trump’s SALT tax cap, which is threatening to derail President Joe Biden’s $2 trillion infrastructure proposal. A bipartisan group of more than two dozen lawmakers, calling itself the SALT Caucus, formed to push for Trump’s cap on tax deductions be […]
Summary List Placement A New York City investment manager was charged Friday with stealing more than $2.4 million from five lending institutions through Payment Protection Program loans, prosecutors said in a statement. Gregory Blotnick, 33, is accused of applying for five separate PPP loans between April 2020 and August 2020, and lying about the number […]
Summary List Placement With buyer demand high and inventory low, home prices in the US continue to rise. A new report by the Seattle-based real estate brokerage, Redfin, found that for the four-week period ending on April 11, the median home-sale price shot up to $341,250, a 17% year-over-year increase. Homes that were sold during […]
Amid mounting anger over allegations of bullying, Broadway and Hollywood producer Scott Rudin broke his silence Saturday, saying he was “profoundly sorry” and would step back from his theater work. “After a period of reflection, I’ve made the decision to step back from active participation on our Broadway productions, effective immediately. My roles will be […]
Summary List Placement In what’s being called West Point’s biggest cheating scandal in decades, 51 cadets will be required to repeat a year and eight have been expelled, academy officials said Friday. Last year, 73 cadets were accused of cheating on a final math exam in May, which was taken remotely because of the pandemic. […]
Summary List Placement Throughout the pandemic, Washington Post economics correspondent Heather Long has been providing indispensable context to the Department of Labor’s monthly unemployment announcements in thoughtful Twitter threads. As soon as lockdowns began last March, job losses skyrocketed to literally unprecedented levels, and Long’s analysis helped explain the reasons behind the numbers, what those […]
Summary List Placement Infrastructure talks are starting to gain momentum in Congress two weeks after President Joe Biden rolled out his sprawling $2.3 trillion infrastructure plan. A Republican-led group of 20 lawmakers is gearing up to make a counteroffer in a bid to strike a bipartisan deal on a smaller package. Sen. Shelley Moore Capito […]
Summary List Placement Hafeez Lakhani, 38, who runs elite college admissions firm Lakhani Coaching, described his clients as “the 0.1% of the 1%” — which sometimes even includes Saudi royalty. Families spend on average $35,000 with the firm, he told Insider, in the hopes of angling for a prime college perch. Each year, he said […]
Summary List Placement Fed Chair Jerome Powell said this week that while US government borrowing at current levels is “unsustainable,” the current debt level is “very sustainable” and won’t be a concern in the near-term. “The US federal budget is on an unsustainable path, meaning simply that the debt is growing meaningfully faster than the […]
A final ruling on whether to overturn Facebook’s ban on former U.S. president Donald Trump will take a bit longer than anticipated, an independent oversight board said Friday. Critics of the social media company and even strong advocates of unfettered political discourse called on Facebook’s oversight board to endorse the decision to boot Trump from […]
President Joe Biden, former President Barack Obama and a slew of celebrities including Billy Crystal, Jennifer Hudson and Lin-Manuel Miranda are part of a special aimed at boosting COVID-19 vaccination rates. “Roll Up Your Sleeves,” airing at 7 p.m. EDT Sunday on NBC, will feature Matthew McConaughey interviewing Dr. Anthony Fauci to help separate “fact […]
Blend Labs filed a confidential registration statement with the Securities and Exchange Commission on Friday, signaling its intent to enter the public markets. The dropping of the S-1 closely follows the mortgage tech firm’s big venture capital raise in January, in which it raised $300 million in a Series G round from Tiger Global Management […]
Summary List Placement In recent years, Federal Reserve economists have estimated that 600,000 US businesses have permanently closed each year. But a Fed study released on Thursday found that the pandemic has resulted in an additional 200,000 permanent closures of businesses over prepandemic levels — or about a quarter to a third above normal. Individual […]
Summary List Placement The US housing boom wasn’t built to last. What began as a hefty uptick in home purchases evolved into an all-out buying spree in a matter of months. Americans taking advantage of low borrowing costs and looking to flee cities for suburbs snapped up homes at a rate not seen since the […]
In 2020, housing was an economic bright spot for a nation shuttered inside. Globally speaking, things look much different roughly a year later – jobs are returning by the millions, a series of viable vaccines are being deployed across America, stimulus checks have hit bank accounts and mortgage rates are ascending rapidly from nearly a […]
Secretary of Education Miguel Cardona issued the following statement today on President Biden’s intent to nominate Gwen Graham for Assistant Secretary for Legislation and Congressional Affairs at the U.S. Department of Education: details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
Summary List Placement The pandemic cost millions of Americans their jobs, and while the Bureau of Labor Statistics found that 9.7 million of them are actively seeking work, businesses are reporting significant labor shortages. Weekly jobless claims are at a pandemic-era low just this past Thursday, but businesses, particularly in the restaurant and service industries, […]
Summary List Placement Everything’s coming up roses for Americans. As more vaccine shots go into arms, consumer optimism is the strongest it’s been in a year — they also have stimulus and low interest rates to thank. The University of Michigan’s consumer sentiment index rose to 86.5 in a preliminary April reading, from 84.9. That level signifies a new […]
Summary List Placement The leaders of the Republican party have argued that President Joe Biden’s $2.3 trillion infrastructure plan funds too many things that aren’t physical, or traditional, infrastructure, saying that less than 6% of its spending goes to rebuilding roads and bridges. Senate Minority Leader Mitch McConnell slammed the plan the same day Biden […]
Summary List Placement Insider has been warning of a potential inventory crisis in the housing market since last summer. It’s just gotten worse since then, with a record low number of homes for sale. Builders are racing to catch up. New residential construction surged more than anticipated in March as builders rushed to address the […]
Summary List Placement Like many people, I learned some crucial new things about myself during quarantine. As horrible as the pandemic has been, I haven’t missed sardining myself onto delayed subways or scheduling plans with friends weeks in advance because our lives are too frantic. If anything, I’ve felt more in touch with myself […]
Summary List Placement In recent years, big companies like Amazon have publicly increased the minimum wage they pay workers. And it turns out those moves can lead to nearby businesses also bumping up their pay, according to a recent working paper. “If a bunch of large employers in the labor market raise pay, other employers […]
Summary List Placement CEOs at more than 300 of the top public companies in US received median pay of $13.7 million in 2020, up 15% from $12.8 million the year before, according to an analysis by the Wall Street Journal. Executive pay rose thanks to a revived stock market and changes to compensation structures. Less […]
A handmade pictorial Cambodian silk ikat that uses all-natural silk and dyes takes nearly a year to produce and can sell for thousands of dollars. But this traditional handicraft, which is being preserved by fewer than a dozen small nonprofits in the country, is at risk of disappearing. VOA’s Bopha Phorn tells the story in […]
A photo of an 85-year-old Brazilian woman getting her first embrace in five months from a nurse through a transparent “hug curtain” was named the World Press Photo of the Year on Thursday. It was the second time the Danish photographer who shot the image has won the prestigious award. That the winning photo would […]
Advocates for children from around the world urged Facebook chief Mark Zuckerberg on Thursday to ditch plans for a version of Instagram geared toward preteens. Campaign for a Commercial-Free Childhood and the Electronic Privacy Information Center were among nearly 100 groups and individuals from North America, Europe, Africa and Australia to make the plea in […]
Summary List Placement Sen. Joe Manchin of West Virginia is open to a multitrillion-dollar infrastructure plan. He just wants to see the bill covered. That could be bad news for Republicans hoping he’ll break with his party on the next massive plan from President Joe Biden’s desk. Manchin — a moderate Democrat with incredible influence […]
Young social media activists from Israel and the United Arab Emirates met this month in Dubai in a bid to expand the Abraham Accords peace treaty signed between the two countries last year. The meeting was shared by more than 15 million followers on social media, as Linda Gradstein reports for VOA from Dubai. Camera: Ricki Rosen details ⇒ BusinessMediaguide.Com portal received this content from […]
Summary List Placement Dogecoin is the earnest cryptocurrency, born out of a meme that its creators thought was “hilarious.” Now, that random joke created to lampoon the market is becoming a valuable asset itself. Just this year, the animal-themed currency went from trading for less than a penny to hitting a price of 14 cents […]
venue Summary List Placement President Joe Biden kicked off a major debate in early April when he proposed raising the corporate tax rate from 21% to 28% to fund his $4 trillion infrastructure plan. Now JPMorgan has weighed in on the matter and it finds corporate tax revenue is lower in the US than elsewhere, even […]
HousingWire’s fourth-annual Engage Marketing event will feature experts focused on the specifics of mortgage and real estate in a purchase market. While appetite for refinance loans will plunge in the second half of the year, a huge demographic wave of first-time homebuyers is looking to join the market — assuming they can find a house […]
Summary List Placement Senate Minority Leader Mitch McConnell is reportedly pushing GOP senators to praise Sens. Joe Manchin of West Virginia and Kyrsten Sinema of Arizona as they come under pressure to support scrapping the filibuster. Politico reported that McConnell told Republicans during their Wednesday caucus lunch that the Democratic pair could “save this institution” […]
Summary List PlacementTable of Contents: Masthead Sticky While graduate degrees can provide chances to pivot to new careers, they also can take a few years to complete and charge high tuition, depending on the school and program. That’s why many people consider more affordable, flexible alternatives such as graduate certificates. Here’s everything you need […]
Summary List Placement It’s going to be twice as hard for Gen Z to build wealth as it was for millennials. At least, through stock and bond investments. The generation can expect average annual real returns of just 2% on their investment portfolios, according to Credit Suisse’s global investment returns yearbook. That’s a third less than the […]
The average U.S. mortgage rate fell for the second consecutive week, down nine basis points to 3.04%, according to Freddie Mac’s Primary Mortgage Market Survey. Despite rates mirroring mid-march levels, Sam Khater, Freddie Mac’s chief economist, doesn’t expect them to hold. “The economy is improving on the demand side and on the supply side, a variety of […]
Summary List Placement On his 20th anniversary of working at University of Tennessee Health Science Center, electrician Tony Patton was called in to a meeting. That’s when he found out that he was one of 70 frontline facilities workers being laid off. Patton had heard whispers about layoffs about a week before. Carpenter Michael Garrett […]
Summary List Placement Even millionaires have a wealth gap. One out of every 10 millionaires has a net worth between $5 to $30 million, which Wealth-X defines as “very high net worth” (VHNW) individuals in its annual report. But the wealth among this wealthy class is lopsided. Two-thirds of the VHNW class (about 1.7 million […]
Summary List Placement America’s richest keep getting richer. The six richest Americans are worth more than the GDP of 13 states combined, including Delaware, Maine, and Vermont, according to data from Forbes and the US Department of Commerce. The publication’s rich list contains six “centibillionaires” — people worth at least $100 billion each. In a […]
Summary List Placement Over the last 13 months, American billionaires added $1.62 trillion to their wealth — a 55% increase. This was a finding in the latest report from the left-leaning Institute for Policy Studies (IPS) and Americans for Tax Fairness (ATF). Both groups have tracked billionaire gains throughout the coronavirus pandemic, which has seen […]
RoundPoint Mortgage has added three new senior executives to its management team, as it prepares to ramp up its retail operations. The mortgage subservicer’s board of directors appointed Patrick McEnerney as chief executive officer. McEnerney was a managing director at Deutsche Bank for 14 years before Freedom Mortgage brought him on in August 2020 as […]
South African mobile communications company Vodacom South Africa, with British parent company Vodafone and charity Hestia, has launched a free mobile phone application to support targets of gender-based violence, which has soared during the coronavirus pandemic. The application, “Bright Sky,” provides information for people to identify gender-based violence and get counseling and emergency help. Franco Puglisi reports from Johannesburg. […]
Summary List Placement Sens. Mitt Romney and Kyrsten Sinema are working together on their own minimum wage proposal, after an increase to $15 was stricken from reconciliation for the American Rescue Plan. HuffPost first reported a plan was being drafted. “We’re negotiating a minimum wage proposal which we would ultimately take to our group of […]
Summary List Placement Republican lawmakers are responding to President Joe Biden’s $2 trillion infrastructure bill with a litany of misleading and even false statements. The GOP’s longstanding strategy of attaching the socialism label to any Democratic policy proposal is not new. It’s been the go-to move for the party ever since the rise of the […]
JPMorgan Chase increased originations by 21% over the fourth quarter of 2020, but compressed margins ate away at the bank’s mortgage profits in the first quarter of 2021. The New York-headquartered bank originated $39.3 billion in home loans during the first quarter, a big jump from the $32.5 billion originated in the prior quarter. Notably, […]