Only 1% of US Homes Have Changed Hands So Far This Year, Redfin Says
The US home turnover rate in the first half of 2023 has fallen to the lowest in at least a decade as high mortgage rates compel owners to stay put, Redfin Corp. said.
Bloomberg Business
Weight Loss Startup Noom Names New CEO as It Enters Obesity Drugs Business
Noom Inc. has tapped longtime social media executive Geoff Cook to be its new top boss as the weight loss startup transitions to prescribing obesity drugs like Wegovy.
Macron Blasts EU for Picking American for Chief Competition Economist Post
French President Emmanuel Macron slammed the European Commission’s appointment of an American former adviser to Silicon Valley giants including Apple Inc., Microsoft Corp. and Amazon.com Inc. as its chief competition economist.
Shell, Nigeria Banks Say Aiteo’s Total Oil Debt Balloons to $2.6 Billion
A debt that Shell Plc and seven Nigerian bank is owed by a domestic oil producer in the West African nation in relation to a 2015 asset sale has risen to about $2.6 billion, according to people familiar with the matter.
Meta Opens AI Chatbot Tech for Commercial Use via Microsoft
Meta Platforms Inc. is making its artificial intelligence large language model, Llama 2, available for commercial use through partnerships with major cloud providers including Microsoft Corp.
Citigroup’s Morse Expects Oil to Remain Below $90 a Barrel
Oil is unlikely to fall below $70 a barrel, but it would take a “wild card” event to push prices above $90, said Ed Morse, global head of commodity research at Citigroup Inc.
EU Salvages Latin American Summit After Tussle on Ukraine Stance
Leaders from the European Union and Latin America — except for Nicaragua — managed to agree on language critical of Russia’s invasion of Ukraine, moving past a debate that threatened to stymie efforts to rejuvenate ties at a two-day summit in Brussels.
Oklahoma Considers Natural Gas Manipulation Case Over 2021 Storm
Oklahoma Attorney General Gentner Drummond may bring a natural gas market manipulation case related to the 2021 winter storm that drove energy prices to record highs and left millions of people in the dark.
Europe Battles Wildfires as Heat Notches Up Record in Rome
Europe’s extreme heat is triggering wildfires from Greece to Switzerland, as Rome and Catalonia recorded their highest ever temperatures.
Stellantis Sees Risk of New Chip Shortage on Demand Surge
Stellantis NV expects semiconductor shortages to reemerge on growing demand for electric vehicles at a time of increased geopolitical risk, making the current respite short-lived.
