The week in housing was one of great challenges, with mortgage rates cracking the 5 percent level while homeowners faced an uptick in property taxes and state attorneys general demanded that mortgage services drop their convenience fees charged to borrowers. High-Five Freddie Mac reported the 30-year fixed-rate mortgage averaged 5 percent on April 14, up…
Housing Beat: Mortgage Rates Hit 5 Percent Level While Property Taxes Inch Higher
What Camber Energy Investors Should Watch for as Volatility Increases
April 15, 2022
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Business & EconomyCamber EnergyCompanieseconomic policieseconomyenergyEuropeInternationalMarketsOilRussiaRussia-Ukraine WarstockstocksUkraineWorld
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Camber Energy Inc. was trading slightly higher in the premarket on Thursday after soaring almost 20 percent intraday on Wednesday amid a spike in crude oil prices. The energy sector has seen increased volatility following Russia’s invasion of Ukraine, as traders and investors attempt to weigh the effect the conflict will have on global oil…
Tesla’s Musk Raised Billions Ahead of Twitter Bid
Elon Musk wants to buy Twitter Inc for $43 billion in cash, and the $16.4 billion he netted from sales of Tesla Inc shares last year could help. “Musk could look to fund the transaction, if approved, through a combination of debt financing and potentially Tesla shares,” CFRA Research analyst Angelo Zino said. “Given the…
IMF’s Georgieva Says Ukraine War Hits Growth, Threatens to Fragment Global Economy
WASHINGTON—The war in Ukraine is prompting the International Monetary Fund to cut global growth estimates for both 2022 and 2023 as higher food and energy prices pressure fragile economies, the IMF’s managing director, Kristalina Georgieva, said on Thursday. Georgieva said in a “curtain raiser” speech for next week’s IMF and World Bank spring meetings that…
TSMC Sees Q2 Sales Surge; Says Chip Capacity to Stay Tight This Year
TAIPEI—Taiwan’s TSMC forecast an up to 37 percent jump in current-quarter sales and said it expects chip capacity to remain very tight this year, amid a global crunch that has kept order books full and allowed chipmakers to charge premium prices. Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC), the world’s largest contract chipmaker and a major…
Industrializing Ancient Secret Ingredient May Bring Cheaper Better Quality Chocolate
April 15, 2022
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AustraliaBrightBusiness & EconomychocolatefermentationFoodInternationalLifestylemicrobiologyScienceScience and IndustryWorld
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Australian researchers from the University of New South Wales (UNSW) are attempting to industrialize the fermentation of cocoa beans to make the production of chocolate more controllable and less expensive. Chocolate has become a staple in the pantries of most households in which it is consumed quite regularly, particularly around, the upcoming holiday, Easter. Despite…
US Consumers, Low-Income Households Included, Still Spending, BofA Research Says
U.S. consumer credit and debit card spending so far in 2022 is up 15 percent on a year earlier, Bank of America research showed on Wednesday, a sign that Americans’ gloom about the economy owing to high inflation has yet to translate into lower demand. In fact, lower-income households—often described as the most vulnerable to…
New Zealand Food Prices Grew at Highest Annual Rate in Over a Decade
Food prices in New Zealand (NZ) over the year to March 2022 grew at the fastest rate, 7.6 percent, in over a decade, according to Stats NZ. It was the largest increase since the year to July 11, where prices increase 7.9 percent on the back of a GST increase from 12.5 to 15 percent….
Mercedes-Benz Completes 1,000 Km Electric Drive on Energy-Efficient Design
BERLIN—Mercedes-Benz aims to produce electric cars consuming as little as 10 kilowatt hours of energy per 100 km (62 miles), its chief technology officer (CTO) said on Thursday, a third more efficient than the current average for electric cars. Speaking as the carmaker celebrated the successful test drive of its EQXX prototype vehicle over more…
Low Unemployment Rate Wasn’t Due to Luck: Australian Treasurer
Australia’s unemployment rate remained unchanged in March 2022, which failed to meet economists’ expectations but still gave confidence to authorities. Earlier, economists had anticipated the unemployment rate to drop slightly to 3.9 percent in March, reaching the lowest level since the 1970s. New workforce data from the Australia Bureau of Statistics (ABS) showed that the…
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