New home sales take a hit as builders grapple with big delays and bigger costs
A contractor frames a house under construction in Lehi, Utah, U.S., on Wednesday, Dec. 16, 2020. Private residential construction in the U.S. rose 2.7% in November. George Frey | Bloomberg | Getty Images Sales of newly built homes fell more...
Fed sets up panels to examine risks that climate change poses to the financial system
The Federal Reserve has taken another step forward in efforts to ensure that the financial system is protected against climate risks. As the central bank turns its attention increasingly toward the matter, the Fed has created a Financial Stability Climate...
Stocks making the biggest moves midday: Peloton, AstraZeneca, Boeing & more
A Peloton Interactive Inc. logo on a stationary bike at the company’s showroom in Dedham, Massachusetts, U.S., on Wednesday, Feb. 3, 2021. Adam Glanzman | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Microsoft —...
Fed’s Kaplan said he expects an interest rate hike in 2022
Dallas Federal Reserve President Robert Kaplan told CNBC on Tuesday he likely will favor an interest rate increase before the end of 2022. Though he doesn’t see inflation becoming a problem anytime soon, the central bank official said he expects...
Inflation fears are creating ‘extraordinary’ buying opportunities in tech, Invesco says
When rising Treasury yields put pressure on tech stocks, Invesco’s Kristina Hooper is looking to put money to work. Hooper, who oversees $1.3 trillion in assets, predicts the group’s growth potential will ultimately prevail over inflation fears. “Any time we...
Existing home sales fell sharply in February, as supply dropped by the largest amount on record
Single-family homes are seen in this aerial photograph taken over a Lennar Corp. development in San Diego, California. Bing Guan | Bloomberg | Getty Images Closed sales of existing homes in February dropped a larger-than-expected 6.6% compared with January, according...
Amazon-backed Deliveroo seeks valuation of up to $12 billion in its London IPO
The Deliveroo app displayed on a smartphone screen. Thiago Prudencio | SOPA Images | LightRocket via Getty Images LONDON — British food delivery firm Deliveroo is seeking a valuation of up to £8.8 billion ($12.2 billion) in its upcoming initial...
U.S. economy is ‘on the brink’ of a complete recovery, says Richmond Fed’s Barkin
Pedestrians walk outside the New York Stock Exchange in the U.S. Daniel Acker | Bloomberg | Getty Images The U.S. economy is recovering from the Covid-19 recession, but some economic “scarring” may take a long time to heal, said Richmond...
The Fed can fight inflation, but it may come at the cost of future growth
Gas prices are displayed at a Speedway gas station on March 03, 2021 in Martinez, California. Justin Sullivan | Getty Images One of the main reasons Federal Reserve officials don’t fear inflation these days is the belief that they have...
Visa says the DOJ plans to probe its debit card practices, shares fall 6%
Visa shares dropped sharply Friday after a report said the Justice Department has opened an investigation into its debit card business and possible anticompetitive practices. The company said Friday afternoon that investigators have started to collect information on Visa debit...
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