Michael Knighton, the British businessman reportedly planning a bid to purchase football club Manchester United, is no stranger to the spotlight.
The former Manchester United director is planning a formal bid to buy the club’s operator, Manchester United Ltd. MANU,
Sky-high housing prices still threaten to complicate the Federal Reserve’s inflation fight, even as America’s market for single-family homes shows signs of cooling in response to sharply higher interest rates.
This week, Redfin reported the number of “stale” home listings climbed above 60% in July, reflecting the year’s surge in mortgage rates and concerns about the economy as homes linger on the market for longer.
Walt Disney Co. is launching an advertising-supported version of its flagship Disney+ streaming service later this year, and plans to raise prices on many of its streaming services in conjunction with the move.
Executives at the media giant announced Wednesday that they plan to raise the price of ad-free Disney+ to $10.99 a month starting Dec. 8. An annual subscription to the service will cost $109.99, up from $79.99 previously.
Sky-high housing prices still threaten to complicate the Federal Reserve’s inflation fight, even as America’s market for single-family homes shows signs of cooling in response to sharply higher interest rates.
This week, Redfin reported the number of “stale” home listings climbed above 60% in July, reflecting the year’s surge in mortgage rates and concerns about the economy as homes linger on the market for longer.
With...
SAN FRANCISCO — A federal judge ruled Wednesday that Walgreens can be held responsible for contributing to San Francisco’s opioid crisis for over-dispensing highly addictive drugs for years without proper oversight and failing to identify and report suspicious orders as required by law.
San Francisco City Attorney David Chiu said the pharmacy chain “continually violated what they were required to do under the federal Controlled Substances Act,” failing to track opioid prescriptions, preventing pharmacists from vetting prescriptions...
Coinbase Global Inc. COIN said it has received investigative subpoenas and requests from the U.S. Securities and Exchange Commission, pointing to potential further pressure facing the crypto exchange, after it posted wider-than-expected losses in the second quarter.
The crypto exchange said Tuesday it has received investigative subpoenas and requests from the SEC “about certain customer programs, operations, and existing and intended future products”, including its processes for listing assets, the classification of certain...
With rental prices rising nationwide, there has never been a better time to examine how high housing costs impact everyday Americans. The Rental Trap is a new MarketWatch column profiling tenants’ issues, including renters who spend a high portion of their income on housing.
In late July, with consumer prices soaring nationwide, tenants from across the country descended on Washington, D.C., to meet with some of the Biden administration’s top housing officials — and make them contend with the real-world impact of a painful cost-of-living crisis.
Faced with the nation’s worst inflation in four decades, Black, Latino and Native American families are already having more issues affording food, housing and healthcare compared to their white counterparts, a new poll shows.
The findings, released Monday from NPR, the Robert Wood Johnson Foundation and the Harvard T.H. Chan School of Public Health, mirror prior research detailing the ways in which some people of color are worse off as the cost of living soars.
Amid the euphoria following what appeared to be the first sign of slowing inflation, stocks staged a broad rally on Aug. 10, with dozens of large-cap stocks rising 5% or more.
Those included several tech names that investors loved during the early stages of the coronvirus pandemic, along with cruise lines, credit-card lenders and chip-related companies.
Investors might want to keep their guard up as the stock market continues its rally.
“The market has kind of gone back to sleep” in appearing to think, “all right, mission accomplished, inflation’s in the bag, the Fed can back off,” said Sameer Samana, a senior global market strategist at Wells Fargo Investment Institute, in a phone interview Wednesday. “We think it’s much too premature.”
Samana...
Amid the euphoria following what appeared to be the first sign of slowing inflation, stocks staged a broad rally on Aug. 10, with dozens of large-cap stocks rising 5% or more.
Those included several tech names that investors loved during the early stages of the coronvirus pandemic, along with cruise lines, credit-card lenders and chip-related companies.
A...
Billionaire entrepreneur Mark Cuban loves cryptocurrency and Web3 technology, but thinks buying digital real estate in the metaverse is not a good idea.
“The worst part is that people are buying real estate in these places,” Cuban told YouTube channel Altcoin Daily this week. “That’s just the dumbest shit ever.”
Walt Disney Co. added more streaming subscribers than expected and topped Netflix Inc.’s total in the second quarter, and plans to launch an ad-supported tier while increasing prices on its current offerings before the end of the year.
Disney DIS,
Walt Disney Co. added more streaming subscribers than expected and topped Netflix Inc.’s total in the second quarter, and plans to launch an ad-supported tier while increasing prices on its current offerings before the end of the year.
Disney DIS,
After four days in the red, U.S. stocks closed on Wednesday at their highest levels since early May following a July inflation report that came in slightly cooler than expected, sparking a sharp rally in both stocks and bonds. The S&P 500 SPX,
The July consumer price data released Wednesday is the “first hint” that U.S. inflation might be slowing but doesn’t obviate the need for higher interest rates, said Minneapolis Fed President Neel Kashkari on Wednesday.
“I was certainly happier to see a surprise to the downside,” Kashkari said, during a panel discussion at the Aspen Economic Strategy Group’s annual meeting.
But...
The bipartisan duo of Sens. Kyrsten Sinema and John Thune helped private equity firms escape tens of billions of dollars in potential tax increases and instead walk away with relief from the new 15% corporate minimum tax in the Inflation Reduction Act.
The House of Representatives is expected to vote on the bill Friday after the Senate OK’d the measure on Sunday. The wide-ranging legislation addresses healthcare, climate and taxes, and comes after President Joe Biden’s more expensive Build Back Better proposal stalled on Capitol Hill.
Defaulting on your student loans could lead to the federal government withholding your wages, your tax refunds and possibly your Social Security income — a process that’s both blunt and punitive, one government official says.
“Even if you were a hard-nosed accountant who only cared about collecting money for taxpayers, it makes no sense to try and collect a loan by driving borrowers into poverty and preventing them from getting back on their feet,” Education Department Undersecretary James Kvaal said in his opening remarks during a virtual panel held by the Student Borrower Protection Center.
While American tourists have been filling all corners of Europe this summer, happily snapping away and occasionally complaining about the heat, the region’s energy and climate crisis continues to deepen.
In the latest piece of bad news to hit the headlines, Bloomberg reported Tuesday that officials in the U.K. had a “reasonable worst-case scenario” over potential gas shortages and a cold winter that could force organized blackouts.
The numbers: The U.S. federal budget deficit has narrowed by a record amount in the fiscal-year-to-date measurement, the U.S. Treasury Department said Wednesday.
For the first ten months of the fiscal year, which ends Sept. 30, the deficit was $726 billion, down sharply from $2.5 trillion in the same period last year. That’s a record $1.8 trillion narrowing.
In...
Wednesday’s release of the consumer-price index report for July contained enough downside surprises to give stock investors hope the worst of inflation may be behind. Yet an undercurrent of worry remained at big-name firms like Pimco and BlackRock Inc., the world’s largest asset manager.According to Pimco economists Tiffany Wilding and Allison Boxer, the details of the report were “firmer” than what was implied by the annual headline CPI rate — which fell to 8.5% for July from 9.1% in June and came in below the expectations of economists and inflation-derivatives traders. If food and energy prices continue to ease, June will likely prove to be the peak in year-over-year headline inflation, Wilding and Boxer wrote in a note. But the annual core measure, which strips out food and energy, “will likely reaccelerate in August, and isn’t likely to peak until September.” The so-called core reading, which excludes volatile items, matters to many in financial...
The rise in the cost of living cooled in July, but not for grocery prices.
The price of food at home rose 1.3% from June to July, marking a 13.1% increase compared to last year. It was the largest price increase for groceries since 1979, according to the U.S. Bureau of Labor Statistics.
The price of consumer goods and services was steady...
The U.S. July consumer inflation data was “positive” but the pace of price increases remains “much too high,” Chicago Fed President Charles Evans said Wednesday.
The 8.5% annual inflation rate over the past 12 months “is just huge,” Evans said, during a conversation about the economy and monetary policy at Drake University.
There was no inflation in July, the government said Wednesday. That’s great news.
But let’s not get too far ahead of ourselves. It’s not time to break out the champagne. Inflation isn’t whipped yet. Indeed, it’s likely to bedevil us for at least another year or two because rents show little sign of moderating.
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