The market for previously owned homes is facing challenges, with sales at a 30-year low and minimal movement seen in May. Existing home sales remained relatively flat, dropping by 0.7% from April to a seasonally adjusted annual rate of 4.11 million units. This trend mirrors a 2.8% decrease from the previous year. The consistency in
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The recent Supreme Court decision in Moore v. United States addressed the issue of a federal tax on certain foreign investments. In this case, a Washington state couple, the Moores, was challenged with a mandatory repatriation tax on income earned from an investment in an India-based company that did not distribute dividends. The Supreme Court
China’s investment of $230.8 billion over more than a decade to develop its electric car industry is a staggering figure. This amount of government support represents a significant 18.8% of total electric car sales between 2009 and 2023. This demonstrates a clear commitment from Beijing to push the growth of the electric vehicle (EV) sector
The landscape of the restaurant industry is witnessing a subtle yet significant change in customer preferences. Darden Restaurants CEO Rick Cardenas pointed out that casual-dining chains are attracting customers who are dissatisfied with the rising prices in the fast-food sector. While Darden itself has not experienced a surge in customers due to this shift, its
New York has recently introduced a program that provides homeowners with the opportunity to receive rebates of up to $14,000 for making energy-efficient upgrades to their properties. This initiative is part of the federal Inflation Reduction Act, which is the largest climate-focused legislation in U.S. history. The goal of these rebate programs is to help
Darden Restaurants recently released its quarterly results, which caused mixed reactions in the market. Despite an increase in net sales, the same-store sales of its flagship brand, Olive Garden, declined for the second consecutive quarter. Additionally, Darden provided a modest forecast for the coming fiscal year, predicting a mere 1% to 2% growth in same-store
As older members of Generation X approach retirement age, the pressure to save for retirement has intensified. A study conducted by a global asset management company revealed that a significant percentage of Gen Xers are worried about not having enough money to enjoy their golden years. With the dual financial responsibilities of caring for elderly
The latest drop in mortgage rates did not seem to have a significant impact on consumer behavior. Despite the decrease in the average contract interest rate for 30-year fixed-rate mortgages, the total mortgage application volume only rose by 0.9% compared with the previous week. This indicates that consumers were largely unimpressed by the rate reduction.
In recent years, the box office has been missing a crucial element – family films. However, in the last few months, there has been a resurgence of kid-friendly movies hitting the big screen. This resurgence has brought new life to the box office, giving hope to movie theater operators for a stronger second half of
Ratings agency Fitch has adjusted its expectations for China’s policy rate in light of the U.S. Federal Reserve’s decisions to keep its interest rates high. Fitch no longer anticipates a rate cut in China this year and has postponed its forecast for a potential reduction to next year. The agency now predicts that China will