US Home Purchase Applications Hit Lowest Since 1995 on Rate Rise
US mortgage applications for home purchases dropped last week to an almost three-decade low, indicating residential real estate is reeling from the recent spike in borrowing costs.
Bloomberg Business
US New-Home Sales Rise to Highest Level in Over a Year
US new-home sales rose in July to the highest level in over a year as homebuilders continue to benefit from limited supply in the resale market.
Inflation-Linked Treasuries Face Key Test After Bruising Month
The market for Treasury Inflation-Protected Securities is teaching investors a harsh lesson about interest-rate risk, ramping up the focus on this week’s auction of the debt.
Teenagers Convicted of Grand Theft Auto, Nvidia Lapsus$ Hacks in the UK
Two UK teenagers accused of being key members of the notorious hacking group Lapsus$, behind attacks on companies including Nvidia Corp., Rockstar Games Inc., and Uber Technologies Inc., were convicted of their crimes by a London jury Wednesday.
‘Everybody Else Left or They Died:’ California Bank Grows Simply by Surviving
From his office just outside Los Angeles, Dominic Ng watched as California banks fell like dominoes — first crypto-friendly Silvergate Capital Corp. down near San Diego in early March, then Silicon Valley Bank up north days later, followed by San Francisco’s First Republic Bank at the beginning of May.
Abercrombie Shares Soar After Boosting Full-Year Outlook
Abercrombie & Fitch Co. soared after hiking its full-year guidance, a sign that some teens and young millennials are still eager to spend if the styles and price are right.
Kohl’s Beats Expectations as Inventory Levels Improve
Kohl’s Corp. profit topped estimates as inventory levels fell, suggesting the retailer’s efforts to clear excess merchandise are working.
Bank of America Trading Desks Gain Ground With More Capital, Headcount
Fixed-income traders in particular have nabbed market share, helping narrow gap with rival JPMorgan
‘Diverse’ Germany to Make It Easier to Legally Change Gender
Germany is taking steps to smooth the process for transgender, intersex and non-binary people to legally change their names and gender, as Chancellor Olaf Scholz’s ruling coalition attempts to deliver on a pledge to make society more inclusive.
Advance Auto Names New CEO, Starts Review as Earnings Shrink
Advance Auto Parts Inc. named a new chief executive officer and started a strategic review of the business as it struggles to keep up with inflation. The shares rose as much as 6.2%.
