Author: News Room

It’s a bit early in 2023 to talk about record real estate prices, yet here we are. A 10-acre estate in Southern California’s prestigious Rolling Hills Estates recently sold for $12.5 million, the highest home price on the Palos Verdes Peninsula so far in 2023. The home on Georgeff Road was snapped up in one day. “The first person who saw it bought it — full price,” says selling agent Suzanne Dyer of Strand Hill Properties. The ranch-style home behind gates in Rolling Hills Estates is a sprawling hilltop property in the middle of horse country. Residents have access to…

A Westport home located between the beach and downtown was reimagined by a design and build team. They transformed the turn-of-the-last-century Dutch Colonial into a modern farmhouse with luxurious updates while retaining the original charm. The team of designer Bob Costanza, architect Doug Cutler and builder Oscar Leal of Beachwalk Homes worked together to keep the original foundation and curved roofline, and added modern wings to the footprint, expanding the home to 5,400 square feet. An oversized porch wraps around the main level, with a foyer that leads to a large great room with a gas fireplace and 20-foot cathedral…

According to the Census Bureau’s 2021 American Community Survey 5-Year Estimates, Denver is now the 19th biggest city in the United States, with a population of 711,463, as of 2021. Denver has witnessed dramatic growth in recent decades. From 1990 to 2021, Denver’s population increased by 52.1%, from 467,610 to 711,463. As with cities of the Pacific Northwest and West Coast in general, much of Denver’s growth over the course of the 2000s and 2010s was due to a large influx of Millennials. Given this substantial growth, the Denver housing market experienced a striking rise in home prices and demand.…

Independent furniture designers face many challenges today. Between the creative process, physically producing their work, and the entrepreneurial aspects of marketing and selling, an artist needs to be a “jack of all trades.” However, Jean Lin, founder of Colony has found a way to mentor emerging talent and help them cultivate their careers. With a gallery located in downtown Manhattan Lin’s unique co-op model truly makes it possible for artisans to thrive. Products feature a mix of unique furniture, lighting, textiles, and decor, Colony is the ideal place to source unique items for the home. In April 2023, the company…

Treasury Secretary Janet L. Yellen recently tied the failure to raise the debt limit in time to the prospect of more bank failures. The Secretary is absolutely right that if Congress wants to prevent more government bailouts of banks in the short-term, it can ill afford to wait to enact a clean debt limit increase. But in order to help bring down the inflationary pressures that helped undermine Silicon Valley Bank (SVB), President Biden and Democrats must find common ground with Republicans to stabilize the national debt. While liberal Democrats point to the 2018 banking regulatory relief law and MAGA…

By Chuck Mikolajczak NEW YORK (Reuters) – U.S. Treasury yields and the dollar climbed in an abbreviated session on Friday after employment data for March indicated the labor market remained tight last month, raising the odds that the Federal Reserve has at least one more rate hike in store. Wall Street exchanges were closed until Monday due to the Good Friday holiday. European markets are closed on both Friday and Monday. Nonfarm payrolls increased by 236,000 jobs last month, the Labor Department said, very close to the 239,000 expectated by economists surveyed by Reuters. Data for February was revised higher…

(This April 6 story has been corrected to reflect an IRS clarification that full-time-equivalent hiring figures for FY 2024 are cumulative with FY 2023 figures, not in addition to FY 2023 figures) By David Lawder WASHINGTON (Reuters) – The U.S. Internal Revenue Service plans to hire nearly 20,000 new employees and deploy new technology over the next two years as it ramps up an $80 billion investment plan to improve tax enforcement and customer service, it said on Thursday . The tax agency, in its long-awaited Strategic Operating Plan, said it will obligate about $8.64 billion of the new funding…

By Stephen Nellis (Reuters) – (This April 5 story has been corrected to clarify that Neuchips did not beat Qualcomm (NASDAQ:) and Nvidia (NASDAQ:) in one category of testing as it didn’t compete in the categories previously described, and Qualcomm’s results and rankings have been rectified in paragraphs 6-8) Artificial intelligence chips from Qualcomm Inc beat Nvidia Corp in two out of three measures of power efficiency in a new set of test data published on Wednesday. Nvidia dominates the market for training AI models with huge amounts of data. But after those AI models are trained, they are put…

By Dan Burns (Reuters) – Deposits at U.S. commercial banks rose near the end of March for the first time in about a month, showing signs of stabilizing after the two largest bank failures since the financial crisis rocked the banking system and rattled depositors. Federal Reserve data released on Friday showed deposits at all commercial banks rose to $17.35 trillion in the week ended March 29, on a nonseasonally adjusted basis, from a downwardly revised $17.31 trillion a week earlier. It was the first increase since the start of March and marked an end, for the moment, to a…

By Lewis Krauskopf NEW YORK (Reuters) – A closely watched U.S. inflation report next week could help settle one of Wall Street’s most pressing questions: whether the market has correctly pegged the near-term trajectory for interest rates. Following last month’s banking crisis, investors have become more convinced the Federal Reserve will cut rates in the second half to ward off an economic downturn. Such bets have pushed bond yields lower, supporting the giant tech and growth stocks that hold sway over broad equity indexes. The has gained 6.9% so far in 2023. But the central bank’s more restrictive rate outlook…