Consumers in the market for a home have been patiently waiting for the Federal Reserve to cut interest rates — a move it seems poised to make in September. But without action from Congress, there could be another change …
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Business
Microsoft plans September cybersecurity event to discuss changes after CrowdStrike outage
by adminMicrosoft said Friday it will hold a conference in September for cybersecurity firms to discuss ways the industry can evolve following a faulty CrowdStrike software update that caused millions of Windows computers to crash in July. The incident …
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Business
Why Ford believes its $1.9 billion shift in EV strategy is the right choice for the company
by adminDETROIT — Ford Motor’s profit engine for decades has been large trucks and SUVs in the U.S. So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first …
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Business
DOJ sues software firm RealPage for allegedly helping landlords collude to keep rents high
by adminThe Department of Justice and eight states on Friday accused software company RealPage of unlawfully scheming to undermine competition among landlords and create a monopoly that harms millions of renters. RealPage “allows landlords to manipulate, distort, and …
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Business
How investors can prepare for lower interest rates: It’s ‘like getting a haircut,’ advisor says
by adminFederal Reserve chair Jerome Powell on Friday gave the clearest indication yet that the central bank is likely to start cutting interest rates, which are currently at their highest level in two decades. If a rate cut comes in September, …
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Federal Reserve Chair Jay Powell said Friday he expects the central bank will cut its key interest rate in the near future in response to slower economic growth and cooling inflation. At a speech during …
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Peloton on Thursday said it will start charging new subscribers a one-time $95 activation fee if they bought their hardware on the secondary market as more consumers snag lightly used equipment for a fraction of the typical retail …
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Business
Philadelphia Fed President Patrick Harker advocates for interest rate cut in September
by adminPhiladelphia Federal Reserve President Patrick Harker on Thursday provided a strong endorsement to an interest rate cut on the way September. Speaking to CNBC from the Fed’s annual retreat in Jackson Hole, Wyoming, Harker gave …
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Business
July home sales break a four-month losing streak as supply rises nearly 20% over last year
by adminClosed sales of previously owned homes rose 1.3% in July compared with June to a seasonally adjusted, annualized rate of 3.95 million units, according to the National Association of Realtors. That was the first gain …
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Business
Walz’s family relied on Social Security when his father died. Many don’t know kids are eligible for benefits.
by adminMinnesota Gov. Tim Walz accepted the Democratic vice presidential nomination at the Democratic National Convention on Wednesday night. In his speech, Walz credited a particular source of support for helping to get his family to where they …