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Share to Twitter Share to Linkedin Topline Despite falling mortgage rates providing some relief to potential home buyers, mortgage applications fell to the lowest level since the turn of the century last week—providing fresh evidence that the housing market downturn may have room to run as some experts worry about how the collapse will damage the broader economy. Key Facts Mortgage applications fell 2.3% from one week earlier, according to the latest data from the Mortgage Bankers Association, pushing overall applications to the lowest level since 2000 even as rates on the popular 30-year fixed mortgage slipped to a two-month low of less than 5.5%. In a statement, MBA’s Joel Kan said home buying applications continue to suffer from “rapidly drying up” demand as mortgage rates remain about two percentage points higher than one year ago—driving up the cost of monthly mortgage payments and making homes the least affordable they’ve been in 33 … [Read more...] about Mortgage Demand Falls To New 22-Year Low As Housing Market Fuels Recession Fears

The last two years have changed how young investors look at real estate. The far-reaching effects of pandemic on their personal and professional lives was the game-changer. They realized the value of owning living spaces that are not only conducive for their ideal lifestyle, but also infallible when it comes to financial gain and stability. Let’s take a look at the reasons why property investments capture this segment’s interest, and why Angeles City, Pampanga is a hotbed one should definitely consider. Property as the wisest investment Now Residences, a mid-rise garden community in Angeles City, Pampanga presents both end-users and investors a sure and wise choice when it comes to investing outside of Metro Manila. Financial gurus agree that r eal estate is emerging as a strong hedge against the roaring inflation, and young investors are at the forefront of it. Industry leader SM Development Corporation (SMDC) realized this with 54% of their increase in revenue … [Read more...] about A new SMDC community in Angeles City, Pampanga built for the new breed of investors

In Dobbs v. Jackson, the U.S. Supreme Court overturned Roe v. Wade, the half-century-old precedent that guaranteed federal abortion protections. After the controversial June decision, the matter was kicked back to the states, leading to a tangle of laws. It’s an ever-evolving landscape. Cost varies. Abortions are less expensive in the first trimester than later in the pregnancy. According to Planned Parenthood, the procedure can cost up to $750 in the first trimester, though it’s often less, and that amount climbs up to $1,500 later in the pregnancy. According to the latest available data from the Centers for Disease Control and Prevention’s Abortion Surveillance System, the vast majority of abortions happen in the first trimester, with 92.7% occurring at or before 13 weeks of gestation, which is the beginning of the second trimester. However, as discussed below, advocates say that sending the matter to the states has increased costs in some circumstances, potentially putting … [Read more...] about How To Pay for and Access a Legal Abortion

- A + A (Aug 18): Chinese carmaker Geely Automobile Holdings Ltd plans to double down on its efforts to boost the sale of electric vehicles (EVs) as well as bolster exports as it seeks to recover from disappointing first-half earnings that were pummelled by Covid-19 lockdowns and supply chain snarls. The shipments of new-energy vehicles will account for more than 30% of the overall sales by the end of this year and continue the upward trend in 2023, company's group chief executive Gan Jiayue said in a media briefing on Thursday. The Hangzhou-based automaker will also focus on stepping up its exports, especially in Europe, Middle East, Asia Pacific, and Latin America, Gan said. Geely saw its exports surge by 64% in the latest half-yearly earnings reported earlier in the day, well above the industry average of 50%, he said. The renewed thrust toward what Geely deems its growth engines comes after the company posted a disappointing first-half profit. Net income … [Read more...] about Geely doubles down on EVs, exports after disappointing earnings

This article first appeared in The Edge Malaysia Weekly, on August 1, 2022 - August 07, 2022. Ong has been active in the local corporate scene over the past few years. (Photo by Mohd Izwan Mohd Nazam/The Edge) - A + A CHEMICAL products distributor Hextar Global Bhd, the flagship company of Datuk Eddie Ong Choo Meng, is selling its manufacturing plant and the land on which it sits to KIP Real Estate Investment Trust (KIP REIT), in which Ong has a stake as well. Hextar Global, which bought the land in Klang in October 2005 for RM12.58 million, will lease back the assets after the sale. The company explains that the RM27 million sale is to unlock asset value and reduce its funding requirements. Nonetheless, Hextar Global’s asset sale is not that big a deal compared with that of its controlling shareholder Ong. The 44-year-old businessman is selling two industrial properties, namely warehouses and a factory, to KIP REIT for RM51.7 million cash. His original … [Read more...] about Hextar group boss continues acquisition spree

Make that four weeks in a row of gains for the U.S. stock market, as the rally has become undeniable. The S&P 500 and the Nasdaq both climbed more than 3% last week, with the the Dow up 2.9%. The S&P 500 has now climbed 15% from its lows in mid-June, while the Nasdaq has clawed back 20% since then. That could technically be described as a new bull market for the index. A 20% retracement from a recent low fits the bill—or the bull—but there are a lot of opinions about that. But we can't deny the strength of the rally, especially when we dig into the charts. The average stock in the Nasdaq Composite index is up 34% from its lows. Remember, just a few months ago, we were talking about the average Nasdaq stock being down 50% from its highs. The pendulum has swung back in a big way. Across the market, the breadth thrust has been pretty impressive. And no, that's not a swimming stroke. The breath trust indicator is a technical indicator used to ascertain market momentum … [Read more...] about Going Back to School with Stock Market Fundamentals

- A + A (Aug 18): Apple Inc is aiming to hold a launch event on Sept 7 to unveil the iPhone 14 line, according to people with knowledge of the matter, rolling out the latest version of a product that generates more than half its sales. The new iPhones will kick off a busy fall product season, which will also include multiple new Macs, low-end and high-end iPads, and three Apple Watch models. Apple is updating its flagship product at a precarious time for the industry. Smartphone sales have begun to flag as consumers cope with inflation and a shaky economy. But Apple appears to be faring better than its peers: The iPhone sold well last quarter, and the company has signaled to suppliers that it doesn’t foresee a dropoff in demand. The Cupertino, California-based tech giant typically announces other products alongside the iPhone, including the latest Apple Watches. The company usually releases the new iPhone in stores about a week and a half after it’s unveiled, and … [Read more...] about Apple targets Sept 7 for iPhone 14 launch in flurry of new devices

Traders work under signage for GameStop Corp. (NYSE: GME) on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., Aug. 8, 2022. REUTERS/Andrew Kelly NEW YORK – Speculative options trading is on the rise again among individual investors alongside a rally in so-called meme stocks, reviving a trend that swept Wall Street last year but faded as markets turned volatile in 2022. Trading in single stock options – a popular vehicle for retail investors looking to place leveraged bets in hopes of outsized gains – has shot higher in recent weeks, with 10-day average daily trading volume at a more-than six-month high of nearly 25 million contracts, Trade Alert data showed. The rise in options trading comes amid wild rallies in the shares of companies popular with retail investors, led by Bed, Bath & Beyond, whose stock is up about 360 percent this month. More seasoned meme-stock names such as GameStop and AMC Entertainment have surged as well, … [Read more...] about U.S. retail traders pile back into options as meme-stock mania flares

Kapil Dev lifting the World Cup trophy in 1983. (Photo: BCCI via Twitter) India celebrates 75 years of Independence today. On this milestone, we look back on 75 historic moments in Indian history. 1) First prime minister: Jawaharlal Nehru 2) First president: Dr Rajendra Prasad 3) First Indian to go to space: Rakesh Sharma 4) First feature film: Raja Harishchandra Close 5) First Indian to win Olympic medal: Khashaba Dadasaheb Jadhav (Bronze in wrestling in the 1952 Summer Olympics in Helsinki) 6) First Indian to win a Nobel: Rabindranath Tagore 7) India's first general election: Between between October 25, 1951 and February 21, 1952. 8) India's first chief justice: Justice Harilal Jekisundas Kania 9) First Indian to win an Oscar: Bhanu Athaiya 10) First Miss World: Reita Faria 11) First Miss Universe: Sushmita Sen 12) First Muslim president of India: Zakir Husain 13) First woman judge of the Supreme Court: Meera … [Read more...] about Independence Day 2022: 75 ‘firsts’ in Indian history

- A + A (Aug 18): PT Telkom Indonesia is planning to combine its broadband and wireless businesses as part of an overhaul of the sprawling state-owned telecommunications company, a senior executive said on Thursday. The mobile business, known as Telkomsel and owned 35% by Singtel, counted 176 million subscribers in 2021, making it the largest cell provider in Indonesia, according to its latest annual report. The fixed broadband service had 8.6 million subscribers through its IndiHome brand and held a market share of around 80%. The Jakarta-based group is speaking with financial advisers about the deal, which could value the combined businesses at several billion dollars, people familiar with the matter said earlier. Telkom hopes to eventually separate its consumer-facing business from one focused more on corporate customers, the people said, asking not to be identified as the matter was private. Telkom President Director Ririek Adriansyah confirmed via text message … [Read more...] about Indonesia’s biggest telco to combine mobile, broadband business