A glut of legal marijuana has driven Oregon pot prices to rock-bottom levels, prompting some nervous growers to start pivoting to another type of cannabis to make ends meet — one that doesn’t come with a high. Applications for state ...
Read More »Rising rates: Savers sigh in relief, borrowers beware
Interest rates are charging higher, and that can be a good or bad thing depending on whether you’re saving or borrowing. For savers, it’s a long-awaited win. After years of making virtually nothing on their money-market accounts and certificates of ...
Read More »US average mortgage rates at 7-year highs; 30-year 4.61 pct.
Long-term U.S. mortgage rates jumped this week, marking their highest levels in seven years amid the peak home buying season. The benchmark 30-year rate pushed toward the significant 5 percent level. Mortgage buyer Freddie Mac says the average rate on ...
Read More »US factory production rose a healthy 0.5 percent in April
U.S. factories cranked out more appliances, computers and aircraft last month, lifting manufacturing production for only the second time in five months. The Federal Reserve said Wednesday that factory output rose 0.5 percent in April after a flat reading in ...
Read More »US homebuilding slides 3.7 percent in April
U.S. builders broke ground on fewer apartment buildings last month, pushing overall home construction down 3.7 percent from March. The Commerce Department said Wednesday that housing starts fell to a seasonally adjusted annual rate of 1.29 million in April, lowest ...
Read More »Who will referee billion-dollar sports-betting industry?
Now that the U.S. Supreme Court has cleared the way for states to legalize sports betting, the race is on to see who will referee the multibillion-dollar business of gambling on pro and college games. The NFL, NBA and others ...
Read More »Builder optimism bounces in May after 4 month slide
U.S. homebuilders are feeling more confident about their sales prospects, reflecting strong demand for newly built homes with existing homes in short supply. The National Association of Home Builders/Wells Fargo builder-sentiment index released Tuesday rose two points to 70 this ...
Read More »US retail sales rose a solid 0.3 percent in April
U.S. retail sales rose at a solid pace last month, a sign that consumers may be rebounding from weak spending in the first three months of the year and driving better economic growth. Retail sales increased 0.3 percent in April, ...
Read More »Uber shifts policy for alleged sexual misconduct on service
Uber’s ride-hailing service will give its U.S. passengers and drivers more leeway to pursue claims of sexual misconduct, its latest attempt to shed its reputation for brushing aside bad behavior. The shift announced Tuesday will allow riders and drivers to ...
Read More »Postal Service: More financial loss as mail delivery slumps
The U.S. Postal Service reported another quarterly loss on Friday after an unrelenting drop in mail volume and costs of its health care and pension obligations outweighed strong gains in package deliveries. Amid sharp criticism from President Donald Trump that ...
Read More »Applebee’s sues over closure of restaurant in profiling case
Applebee’s is suing a Kansas City-area franchise owner over the closure of a restaurant where two black women said they were falsely accused of not paying for meals in an earlier visit. The chain claimed “significant brand and reputational damage” ...
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