High prices and low supply are keeping potential home buyers at bay. An index measuring signed contracts to buy existing homes was flat in September, according to the National Association of Realtors, but August’s reading was revised down. That puts the index at its lowest level since January 2015. It is down 3.5 percent from […]
Read moreAs California begins cleaning up from this month’s deadly wildfires, concerns are rising that the rebuilding could take years and will be hampered by shortages of contractors and labor. The governor has ordered the suspension of tough zoning, planning and other requirements to help the fire ravaged communities in Northern California bounce back faster. California, […]
Read moreTotal billionaire wealth soared to $6 trillion in 2016, with one billionaire created every two days in Asia, UBS reported in a study published Thursday. The research said an annual increase of 17 percent among the super-rich was supported by a surge among Asia’s emerging billionaire class as well as an uptick in growth in […]
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A supersonic car aiming to do a mile in 3.6 seconds just passed its first test
A supersonic car that has been designed to reach a world land speed record of 1,000 miles per hour (mph) has undergone its first public test run in England. The Bloodhound SSC car, powered by both a Rolls-Royce Ej200 jet fighter engine and a number of rockets, is designed to cover a mile in just […]
Read moreThe race to see who will lead the Federal Reserve in 2018 and beyond is becoming a process of elimination, with two and perhaps three candidates remaining. President Donald Trump apparently has solidified his thinking and is now choosing between Fed Governor Jerome “Jay” Powell and Stanford economist John Taylor. However, several twists have been […]
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Euro sinks after ECB reveals a gentle exit from its stimulus program
The euro fell sharply percent against the dollar shortly after the European Central Bank (ECB) announced plans to trim the bank’s monthly asset purchase program from January. Crucially, the bank also noted that the program could be extended again if necessary. The ECB has been running its bond buying at a pace of 60 billion […]
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China is the largest market for robots in the world right now, ABB CEO says
China is dominating the robotics market, according to the chief executive of Swedish-Swiss automation giant ABB. Ulrich Spiesshofer said Thursday that the Asian powerhouse is “the largest robotics market of the world,” and that this would likely continue to be the case next year. “ABB is clearly the number one in China. Our long-term investment […]
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ECB unveils plan to cut, but extend, its massive bond-buying program
The European Central Bank (ECB) decided Thursday to cut the level of bonds it purchases every month, but extend the length of time that its stimulus program runs. Its purchases will fall to 30 billion euros ($35 billion) from 60 billion euros, starting in January. The central bank said it will extend its monetary stimulus […]
Read moreSen. Bob Corker told CNBC on Thursday his sharp criticism of President Donald Trump‘s fitness for office will “absolutely not” influence his vote on tax reform. The Tennessee Republican described himself as “all in” on the GOP effort to overhaul the tax system, regardless of his feelings on the president’s competence. “This tax reform is […]
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Italy's Renzi attacks Bank of Italy governor as re-appointment nears
The Bank of Italy has been the “weak point” of the system under the governorship of Ignazio Visco, former prime minister Matteo Renzi said Thursday, putting pressure on the government not to renew his mandate. Visco’s mandate expires at the end of the month and the center-left government is widely expected to recommend he serves […]
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