Category Archives: Finance

Mortgage Rates Hit 7.23%

Mortgage rates pushed to a fresh two-decade high this week, making it tougher for the housing market to emerge from its stark slowdown. The average 30-year fixed mortgage came with an interest rate of 7.23%, according to data published Thursday by Freddie Mac. Some borrowers are paying even loftier rates. The rate was 7.09% a […]

Jobless Claims Drop

Jobless claims drop to 3-week low of 230,000. Still no sign of rising U.S. layoffs. The numbers: The number of Americans who applied for unemployment benefits last week fell by 10,000 to a three-week low of 230,000, offering further evidence that the labor market remains rock solid.   New jobless claims slipped from a revised […]

Farmers Insurance Pulls Out of Florida

Farmers Insurance pulls out of Florida, affecting 100,000 policyholders Farmers Insurance will stop offering its policies in Florida, including home, auto and umbrella policies, in a change that will force thousands of people to change their insurance provider. The company said in a statement that its decision to get out of Florida was a business […]

Moving From California to Texas

A move from California to Texas could save a million dollars. Many Americans are opting in. The exodus of people from California to Texas is picking up steam. In 2021, it was the most popular interstate move in the country, with 111,000 people – or 300 people a day – headed to the Lone Star […]

Bancorp Unit to Buy Signature Bank Assets

New York Community Bancorp unit to buy Signature Bank assets – FDIC A subsidiary of New York Community Bancorp has entered into an agreement with U.S. regulators to buy deposits and loans from New York-based Signature Bank, which was closed a week ago. The Federal Deposit Insurance Corporation (FDIC) said the deal would see the […]

Taliban Militants Fed Up With Office Culture

Taliban Militants Fed Up With Office Culture, Ready to Quiet Quit Almost two years after the Taliban’s takeover of Afghanistan, the jihadists who transitioned from the battlefields to paper-pushing government jobs in the city are ready to quiet quit. The Afghanistan Analysts Network, a non-profit policy research organization working to increase the understanding of life […]

Ericsson to go on Cost-Cutting With Layoffs

As part of its cost-cutting strategy, telecom equipment manufacturer Ericsson will layoff 8,500 workers globally, according to a memo written to staff members and seen by Reuters news agency. “The way headcount reductions will be managed will differ depending on the local country practice,” Chief Executive Borje Ekholm wrote in the memo. “In several countries, […]

US Has a Teacher Shortage

Surrounded by kindergarteners, Lana Scott held up a card with upper and lower case Ys, dotted with pictures of words that started with that letter: Yo-yo. Yak. Yacht. “What sound does Y make?” Scott asked a boy. Head down, he mumbled: “Yuh.” Instead of moving on, she gave him a nudge. “Say it confident, because […]

Free Subway Rides for the Elderly

In South Korea, free subway rides for the elderly become a political headache Every day, 71-year-old Park Gyung-sun delivers flowers, documents and other packages around Seoul – a job popular among senior citizens who are entitled to ride the city’s subways for free. The work, dubbed “silver delivery” in South Korea, earns Park, a former […]

Neiman Marcus to Lay Off About 5% of Workforce

Neiman Marcus Group said on Tuesday it would lay off about 5% of its workforce, or around 500 employees, as the luxury department store chain looks to cut costs in a tough economy. The Dallas-based luxury icon, which also owns Bergdorf Goodman, is preparing to distribute pink slips this week to nearly 500 of Neiman’s […]