Business news

• New home construction is up in 6 largest cities, but supply gap persists

  26-09-2024 21:33 via cbc.ca
  
  The Canada Mortgage and Housing Corp. says construction of new homes in Canada's six largest cities rose four per cent year-over-year during the first half of 2024, but housing starts were still not enough to meet growing demand.
  
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• Car dealerships expected to feel effects of port strike: Have repairs done now, expert says

  26-09-2024 19:43 via foxbusiness.com
  
  The looming work stoppage by dockworkers at ports throughout the East and Gulf coasts could severely disrupt car dealerships around the country. An extended port strike would delay the arrival of new car inventory, which would drive up costs for potential buyers. Not only would it be harder and more expensive to buy a car, but the lack of essential parts and materials would hinder maintenance repairs on existing vehicles as well. The International Longshoremen's Association is negotiat
  
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• Stuart Varney: Democrat policies are destroying America's biggest cities

  26-09-2024 18:40 via foxbusiness.com
  
  During his "My Take" on Thursday, "Varney & Co." host Stuart Varney discussed the plight of Democrat-run big cities after New York City Mayor Eric Adams was indicted on criminal charges following a federal corruption investigation.STUART VARNEY: Eric Adams became the first mayor of New York City to be indicted on criminal charges while in office.Federal investigators have focused on whether the mayor and his campaign took money, illegally, from the Turkish government. NEW YORK CITY MAYO
  
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• Long-term mortgage rates drop to 2-year low

  26-09-2024 18:03 via foxbusiness.com
  
  Mortgage rates barely moved this week, but long-term notes declined to the lowest levels Americans have seen since 2022.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage ticked down to 6.08% from last week's reading of 6.09%. The average rate on a 30-year loan was 7.31% a year ago."Although this week’s decline was slight, the 30-year fixed-rate mortgage trended down to its lowest level in two ye
  
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• A stadium-sized outdoor concert venue is coming to North Toronto

  26-09-2024 17:57 via cbc.ca
  
  Entertainment giant Live Nation says it will build a temporary, open-air music venue with a capacity for some 50,000 people on the grounds of the former Downsview airport in north Toronto.
  
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• Postal Service eyes 5 stamp price changes by end of 2027

  26-09-2024 17:53 via foxbusiness.com
  
  The U.S. Postal Service (USPS) is looking to change stamp prices five times over the next few years.The agency said in a filing to the Postal Regulatory Commission that the first adjustment Americans could expect to see was an increase in July 2025 that will apply to "all Market Dominant classes."Market-dominant products include First-Class mail, marketing mail, periodicals and certain other services.USPS INCREASING STAMP PRICES FOR SECOND TIME IN 2024, BY RECORD-EQUALING AMOUNTSUSPS said it als
  
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• Southwest to end open seating for 2026 flights, offer more legroom and red-eye bookings

  26-09-2024 16:45 via foxbusiness.com
  
  Southwest Airlines on Thursday announced changes to its longtime business model in the hopes of reversing turbulence from declining profits and a sinking stock price.The Dallas-based carrier is pivoting from the so-called open seating model, charging a premium for the best seats, and offering red-eye flights, the airline said in a press release."We're now ushering in a new era at Southwest, moving swiftly and deliberately to transform the Company by elevating the Customer Experience, improving f
  
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• Another death linked to Boar's Head deli meat recall

  26-09-2024 16:38 via foxbusiness.com
  
  Another person has died and two more have fallen ill from the listeria outbreak tied to Boar's Head deli meat. As of Monday, 59 people across 19 states have become infected with the outbreak strain and have been hospitalized, according to the most recent data from the Centers for Disease Control and Prevention (CDC). The CDC said 10 deaths have been reported — one in Illinois, one in New Jersey, two in New York, one in Virginia, one in Florida, one in Tennessee, one in New Mexico
  
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• Dangerous reasons a product may recall; steps to take as a consumer

  26-09-2024 15:45 via foxbusiness.com
  
  Recalls are issued when manufacturers discover a safety concern associated with the product. When recalls go out to the public, consumers can often return the product for a refund, or they are advised to safely dispose of it. There are a slew of reasons why a product could be recalled. When it comes to food recalls, those are issued by either the U.S. Food and Drug Administration (FDA) or the U.S. Department of Agriculture (USDA). All food recalls are issued by the FDA, except for meat
  
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• 5 reasons why gold is a hot commodity

  26-09-2024 15:40 via foxbusiness.com
  
  Talk about a golden opportunity.It's no secret gold has been a coveted asset for centuries. Now, in a world of economic uncertainty and financial volatility, investors are sticking with the timeless allure of the precious metal as a safe-haven for their wealth. As traditional investment options face increasing risks, this tangible asset, backed by a track record of stability, remains a reliable investment choice for those seeking to safeguard their financial future.Even with all gold has to offe
  
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• Homeowners will no longer need to do stress test when switching mortgage providers

  26-09-2024 15:31 via cbc.ca
  
  The national banking regulator says it will no longer require borrowers with uninsured mortgages to undergo a stress test when switching providers.
  
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• US economy grew 3% in the second quarter, in line with expectations

  26-09-2024 14:44 via foxbusiness.com
  
  The U.S. economy grew at a 3% annual rate in the second quarter, in line with economists' expectations, according to new data from the Commerce Department's Bureau of Economic Analysis.Economists polled by LSEG projected an annual growth rate of 3% in the second quarter, after the second advance read came in at 2.8% in July.The report also revised first-quarter GDP growth to 1.6%, up from 1.4% in the prior reading. That comes after the economy grew 3.4% in the fourth quarter of 2023.Stronger gro
  
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• United Airlines flight maneuver to avoid another plane injures 2

  26-09-2024 14:34 via foxbusiness.com
  
  Two United Airlines passengers were hospitalized last week after their plane had to suddenly slow its descent to San Francisco International Airport to avoid another aircraft, the airline said.The incident aboard United flight 2428 occurred on Sept. 19 as the flight was traveling from Newark, New Jersey, the airline told Fox News Digital in a statement on Thursday morning. The aircraft began its descent with the seatbelt sign on when the pilots made the maneuver "to account for another airc
  
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• The Taft-Hartley Act: why Biden could use this labor law to preempt a port strike

  26-09-2024 12:00 via foxbusiness.com
  
  A potential dockworkers strike is looming over seaports on the East and Gulf Coasts as a labor stoppage could begin Tuesday, although federal law gives the president the authority to intervene in such a labor dispute when it creates a national emergency.The possible port strike could start after the expiration of the International Longshoremen's Association (ILA) contract with the U.S. Maritime Alliance (USMX), which elapses at midnight Monday. If it occurs, a strike could disrupt operation
  
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• Shoppers should brace for rising prices if port workers strike, expert says

  26-09-2024 12:00 via foxbusiness.com
  
  Dockworkers along the East and Gulf coasts have pledged to strike unless a new contract is reached by October, leaving officials with less than a week to devise a plan to prevent disruptions. Industry experts warn that a strike will significantly impact the U.S. economy and lead to higher prices for consumers. In fact, some experts say prices could rise before year's end, impacting goods during the critical holiday season.The dire situation arose just as consumers were beginning to experien
  
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• Liberal Gun Owners wants to change how the US addresses gun-related issues

  26-09-2024 12:00 via foxbusiness.com
  
  Gun ownership among American voters is the highest on record, and not just on the right.Multiple studies show there has been a sharp rise in the percentage of Democrats who report having firearms in their homes in recent years – and some of them feel their views on the issue are not being heard by either major party in today's polarized political climate.Randy Miyan is the co-founder and executive director of Liberal Gun Owners (LGO), a non-profit that began as a Facebook group in 2007 for
  
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• Bill Gates is talking about his new Netflix show and enjoying NYC hot dogs

  26-09-2024 11:59 via foxbusiness.com
  
  Bill Gates, who spent most of his life in Washington state while running Microsoft, and who now lives in Del Mar, California, has been busy attending events in New York City.The billionaire Microsoft co-founder has made multiple appearances this week, such as at the United Nations General Assembly meeting, and the Bill & Melinda Gates Foundation’s Goalkeepers event. He is also promoting his Netflix show "What’s Next? The Future with Bill Gates."Some social media users were abuzz
  
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• Businesses face new limits on temporary foreign worker program

  26-09-2024 10:00 via cbc.ca
  
  Changes to the program, in effect as of Sept. 26, are aimed at shrinking the program and pushing employers to invest more in local employees.
  
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• National Debt Tracker: American taxpayers (you) are now on the hook for $35,324,325,476,368.35 as of 9/25/24

  26-09-2024 00:08 via foxbusiness.com
  
  The U.S. national debt is climbing at a rapid pace and has shown no signs of slowing down, despite the growing criticism of massive levels of government spending.The national debt — which measures what the U.S. owes its creditors — fell to $35,324,325,476,368.35 as of September 24th, according to the latest numbers published by the Treasury Department. That is down about $310 million from the figure reported the previous day.By comparison, just four decades ago, the national debt hov
  
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