US Mortgage Rate Climbs to Fresh Multi-Decade High of 7.67%
US mortgage rates advanced last week to the highest level since 2000, keeping a lid on home-buying activity.
Bloomberg Business
Longtime Deputy to Ken Moelis to Exit Investment Bank
Moelis & Co. co-founder and former chief operating officer Elizabeth Crain is leaving the firm at the end of the first quarter of 2024, Ken Moelis said in a memo to employees on Wednesday.
Texas Power Grid Boss Sees Tight Winter Supply as Demand Grows
Pablo Vegas, the chief executive officer of the Electric Reliability Council of Texas, said he’s doing everything possible to ward off the threat of blackouts this winter as power consumption grows faster in Texas than anywhere else in the US.
Disneyland Lifts Prices Up to 9%; Florida Annual Passes Rise Too
Walt Disney Co. is raising ticket prices at its Disneyland resort by up to 9% and lifting annual pass prices at Walt Disney World by as much as 10%.
Hezbollah, Israel Trade Fire on Lebanon’s Volatile Border
The Iran-backed Hezbollah group exchanged fire with Israel’s military on the border with Lebanon, raising tension in the region as the Jewish state builds troops near Gaza in preparation for a possible ground operation.
Citigroup’s Dugan Says US Capital Plan Threatens Bank Lending
Citigroup Inc. Chairman John C. Dugan said US plans to hike capital buffers for the biggest Wall Street banks are unwarranted and will push lending and intermediation away from the banking sector.
Governments Send Planes to Israel to Repatriate Citizens
A growing number of governments are sending aircraft to Israel to airlift their citizens out of the country, after many commercial airlines suspended operations following the surprise attack by Hamas militants over the weekend.
India Mulls Extension of Parboiled Rice Curbs Ahead of Key Polls
India, the world’s top rice exporter, may extend an export levy on parboiled rice to control local prices ahead of key polls, keeping the market tight and raising the risk of higher global food inflation.
After Dutch Elections, Mark Rutte’s Nemesis Wants an End to Joint EU Debt
From the tiny office he shares with five staff, Dutch lawmaker Pieter Omtzigt is planning to transform the Netherlands’s economic relationship with Europe.
Japan Urges Banks to Fix Glitch Preventing Cash Transfers
Japan’s government urged the operator of the domestic interbank fund transfer system to fix a problem that has disrupted millions of transactions for the past two days.
