Author: News Room

Mortgage rates fell sharply this week to the lowest level in more than a year, igniting a boost in demand in the housing market. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage dropped to 6.47% this week from 6.73% last week. The average rate on a 30-year loan was 6.96% a year ago.”Mortgage rates plunged this week to their lowest level in over a year following the likely overreaction to a less than favorable employment report and financial market turbulence for an economy that remains on solid footing,” said…

Democratic presidential nominee Kamala Harris is working hard to win the support of older voters, but what would she do to address their many concerns if she is elected president? In a campaign that has not yet shown many of its policy cards, Harris has offered only the roughest sketch of a governing agenda. But her time as vice president and senator provides some important clues. Among the issues she has addressed in some fashion: Paid family leave, more aggressively lowering the cost of Medicare drugs, unspecified Social Security reforms, tougher nursing home regulation, more funding for Medicaid home and…

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Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseThe US has issued a blunt rebuke of a judicial overhaul proposed by Mexico’s president on Thursday, threatening to deepen a diplomatic rift with its top partner on migration and trade. Ken Salazar, the US ambassador to Mexico, said a plan by President Andrés Manuel López Obrador to replace judges via elections posed a risk democracy and bilateral trade between the neighbours.“I believe popular direct election of judges is a major risk to the functioning of Mexico’s democracy,” Salazar told…

Rockwool A/S (OTCPK:RKWBF) Q2 2024 Earnings Conference Call August 22, 2024 8:00 AM ET Company Participants Kim Andersen – Chief Financial OfficerJens Birgersson – President & Chief Executive Officer Conference Call Participants Claus Almer – NordeaArnaud Lehmann – Bank of AmericaYassine Touahri – On Field Investment ResearchBrijesh Siya – HSBCHarry Goad – BerenbergZaim Beekawa – JPMorganMarcus Cole – UBSAxel Stasse – MS Operator Ladies and gentlemen, welcome to the ROCKWOOL Report on the First half year of 2024. Today, I’m pleased to present CEO, Jens Birgersson; and CFO, Tim Anderson, for the first part of this call. All participants will…

Canadian Labor Minister Steve MacKinnon took action Thursday to end the shutdown of the nation’s two major freight railroads less than one day after it started, referring the labor dispute that had closed the railroads to binding arbitration. “I’ve directed the Canada Industrial Relations Board to assist the parties in settling the outstanding terms of their collective agreements by imposing final binding arbitration,” MacKinnon said in press conference Thursday. The government also ordered a resumption of activities and extending the term of the current collective agreements until new agreements have been signed. The move is a victory for Canadian National…

Uber Technologies and General Motors’ Cruise have agreed to a multi-year partnership, under which the embattled autonomous vehicle company plans to offer driverless rides to Uber users as soon as next year.The Thursday announcement comes as Cruise attempts to revive its robotaxi business after the company ceased operations following an October 2023 incident in which a pedestrian in San Francisco was dragged 20 feet by a driverless Cruise vehicle after she was first struck by a human driver in another car.State and federal regulators have investigated the incident, which led to an exodus of Cruise leaders including CEO and co-founder…

Check out the companies making headlines after the bell: Cava Group — The fast-casual restaurant brand saw shares climb nearly 6% in after-hours trading following a better-than-expected earnings report. Cava posted a profit of 17 cents per share, or 4 cents above the LSEG estimate. Its revenue also came in above expectations.Uber — Shares of the ride-sharing platform fell about 3% after the company and General Motors’ Cruise announced a multiyear partnership. The embattled autonomous vehicle company plans to offer driverless rides to Uber users as soon as next year. GM shares rose more than 1% after hours.Ross Stores — The off-price…

A surprising jobs report released last week paired with a volatile Japanese market led to a massive selloff during Monday’s trading day, with both the Dow Jones and the S&P seeing their worst sessions since 2022. In the Bureau of Labor Statistics’ most recent employment report, only 114,000 jobs were added, down substantially from the previous month when 206,000 jobs were added. This sudden slowdown in employment has led to mounting concerns about an economic recession. The selloff, largely set off by the report, has some uncomfortable similarities to market crashes like the 1987 Black Monday stock market crash and…

A smart use of any retirement savings you’ve set aside in Roth IRAs and/or Roth 401k accounts can help you reduce the income taxes you’ll pay during retirement and also boost your wealth for future needs and goals. This post looks at three possible ways to strategically use your Roth accounts during your retirement to make the most of your retirement savings. First, let’s learn some basic rules you need to know to understand these strategies. Basic Rules About Roth Accounts Anyone can contribute to a Roth IRA, provided you meet the eligibility rules summarized later in this post. You…