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Representative Image: Reuters The House passed a wide-ranging gun control bill Wednesday in response to recent mass shootings in Buffalo, New York, and Uvalde, Texas, that would raise the age limit for purchasing a semi-automatic rifle and prohibit the sale of ammunition magazines with a capacity of more than 15 rounds. The legislation passed by a mostly party-line vote of 223-204. It has almost no chance of becoming law as the Senate pursues negotiations focused on improving mental health programs, bolstering school security and enhancing background checks. But the House bill does allow Democratic lawmakers a chance to frame for voters in November where they stand on policies that polls show are widely supported. "We can't save every life, but my God, shouldn't we try? America we hear you and today in the House we are taking the action you are demanding," said Rep. Veronica Escobar, D-Texas. "Take note of who is with you and who is not." The push comes after a House … [Read more...] about US House passes gun control bill after recent mass shootings

BUKIT MERTAJAM: A total of 23 people, including six women, were arrested during an operation against an online sales scam syndicate at Batu Ferringhi. Penang police chief Comm Datuk Mohd Shuhaily Mohd Zain said the suspects, believed to be Taiwanese nationals aged between 19 and 48, were nabbed during a raid at a three-storey luxury bungalow house in Batu Ferringhi on Saturday (June 25) evening. "During the 6.30pm raid, a team from the state and George Town police headquarters Commercial Crime Investigation Department (CCID) seized several items in the house. "The item that were confiscated were 46 mobile phones, 14 units of laptops of various brands, eight Ipads, six walkie-talkies, 12 prepaid cards, two units of card readers, two thumb drives, a portable WiFi unit and a WiFi router," he said during a press conference at the Central Seberang Prai police headquarters Monday (June 27). He said investigations found that the syndicate had been operating at the premises since the … [Read more...] about Online sales scam syndicate busted, 23 Taiwan nationals arrested

Emami Realty Q4 | Loss at Rs 19.14 cr versus loss Rs 1.52 cr, revenue at Rs 109.83 cr versus Rs 56.81 cr YoY. (Image: emamirealty.com) Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Emami Realty has projected that real estate demand will remain robust despite economic headwinds, and is aiming at a 50 per cent jump in sales to Rs 750 crore in the current fiscal, a top company official said on Wednesday. The real estate arm of the diversified Emami Group has targeted retiring its long-term debt by 2023-24, which is now pegged at Rs 118 crore, he said. The developer, which has a land bank of around 2,500 acres in 7-8 cities in the country, will leverage the resource for new projects and explore monetisation of a part of it in the next few years. ''Economic headwinds, high commodity prices and other associated costs affected us … [Read more...] about Emami Realty aims at 50% sales growth in FY23

Share to Twitter Share to Linkedin Falling house prices tend to be bad for incumbent politicians during reelections. Take, for example, George H. W. Bush. Vice President George H. W. Bush was elected president in a landslide in 1988. The U.S. housing market had been booming for years before that election. The Northeast boomed from 1986 to 1988, and California was also booming in 1988. Nationally, nominal house prices increased 14% in the 20 months from January 1987 until the election in November 1988, according to the S&P CoreLogic Case-Shiller Home Price Index . Eight states voted for George Bush that haven’t voted for another Republican presidential candidate since then. Six of those states were in the Northeast, and one was California. All of those states saw big house price increases in the 1980s. By 1990, however, house prices nationally had stopped increasing. Real house prices and family home equity wealth fell with the 1990 recession. … [Read more...] about Falling House Prices And The Elections In 2022 And 2024

Representative image India’s largest software firm TCS has bagged a deal to drive business process transformation at Aadhar Housing Finance for an undisclosed sum, the companies said on Wednesday. The domestic housing financier will be deploying the Tata group company’s lending and securitisation platform for market expansion, according to a statement. The partnership with TCS is for an end-to-end business process transformation using the integrated and collaborative blockchain-based cloud platform. The Indian market constitutes around 5 per cent of the revenues for the TCS, which depends on the export markets for revenues. Globally, banking, financial services and insurance is the biggest segment for the company. ”The TCS lending and securitisation platform is helping Aadhar Housing Finance harness the power of digital technologies to enhance customer experience and improve its market position,” the software company’s country head Ujjwal Mathur said. The platform offers … [Read more...] about TCS bags deal from Aadhar Housing Finance to improve business operations

- A + A HONG KONG (June 22): A world economy already contending with raging inflation, stock-market turmoil and a grueling war is facing yet another threat: the unraveling of a massive housing boom. As central banks around the globe rapidly increase interest rates, soaring borrowing costs mean people who were already stretching to buy property are finally reaching their limits. The effects are being seen in countries such as Canada, the US and New Zealand, where once-hot residential real estate markets have suddenly turned cold. It’s a sharp reversal from years of surging prices fueled by rock-bottom mortgage rates and government stimulus, along with a pandemic that popularized remote work and sent homebuyers on the hunt for bigger spaces. An analysis by Bloomberg Economics shows that 19 OECD countries have combined price-to-rent and home price-to-income ratios that are higher today than they were ahead of the 2008 financial crisis — an indication that prices have … [Read more...] about World’s bubbliest housing markets are flashing warning signs

Share to Twitter Share to Linkedin Topline New home sales unexpectedly broke a four-month streak of losses and climbed more than economists projected in May, according to data released Friday, but experts note the reprieve may not last long, citing rising mortgage interest rates that are likely to continue curbing demand—likely pulling down record prices as soon as the end of this year. Key Facts About 696,000 new single-family houses were sold last month on a seasonally adjusted annual basis, climbing 10.7% above the April rate of 629,000 (which was revised up from 591,000) and far surpassing average analyst projections of 587,000, the Census Department reported on Friday. “Don’t be deceived,” Pantheon Macro chief economist Ian Shepherdson said in emailed comments after the report, saying the bounce doesn’t change market outlook given an “astonishing collapse ” in mortgage applications this year as rapidly climbing mortgage rates—now at the … [Read more...] about New Home Sales Unexpectedly Rise But Housing Market Still ‘Cratering’—Here’s When Experts Predict Prices Will Fall

Share to Twitter Share to Linkedin Topline JPMorgan Chase—the nation’s largest bank—laid off hundreds of home lending employees Wednesday, Bloomberg reported, as rising mortgage rates and increased inflation continue to cool a once-hot housing market. Key Facts A JPMorgan spokesperson confirmed the layoffs in a statement to Forbes , saying its “staffing decision this week was a result of cyclical changes in the mortgage market.” The company will lay off hundreds of people and reassign hundreds of others, affecting more than 1,000 of its 274,948 worldwide employees, according to Bloomberg, which cited unnamed sources. A spokesperson told Forbes the company was able to “proactively move many impacted employees to new roles within the firm” and is “working to help the remaining affected employees find new employment within Chase and externally.” The layoffs come two months after Wells Fargo reportedly announced it will lay off … [Read more...] about JPMorgan Lays Off Home Lending Employees As Housing Market Cools

Memoirs from former members of the Trump administration have had lackluster sales since former President Donald Trump left office, according to a Politico analysis. The “ Chief’s Chief ” memoir, written by former White House Chief of Staff Mark Meadows, had 21,569 copies sold, according to Bookscan numbers from NPD, a market research firm that tracks book sales. Politico reported on the data Thursday. The chronicle on Trump’s presidency from former Secretary for Housing and Urban Development Ben Carson sold 21,786 copies; former Trump adviser Scott Atlas sold 27,013 copies; former Department of Defense Secretary Mark Esper sold 20,900 copies and former White House press secretary Stephanie Grisham sold 38,249 copies, according to Politico’s reporting of the NPD Bookscan numbers. The memoir from former White House coronavirus response coordinator Deborah Birx reportedly sold less than 6,000 copies. Kellyanne Conway , former counselor to Trump, … [Read more...] about REPORT: Book Sales For Several Memoirs From Trump Officials Bomb During Post-Trump Era

The White House has significantly modified proposed Food and Drug Administration (FDA) tobacco regulations, so that the online sale of e-cigarettes is not restricted, Reuters reported Wednesday. Charged with analyzing the economic implications of policy, the White House’s Office of Management and Budget (OMB) looked in detail at the FDA draft, which had included a prohibition of non-face-to-face sales, in effect banning online sales. OMB changed the language, so that the ban applies only to vending machines. Due to lobbying from the cigar industry, OMB also addressed cigars, modifying the existing two-part rule which separates regulated from unregulated into a two-option rule, which exempts premium cigars. The cigar industry’s concerns were voiced by 24 Republican legislators in a letter to FDA Commissioner Margaret Hamburg. “As you know, premium cigars are a niche product with an adult consumer base, much like fine wines. The majority of people who enjoy a cigar do so … [Read more...] about White House Deletes FDA E-Cigarette Regulations