Foreclosures | Mortgages | Financing
While the real estate landscape has changed in many ways over the years, Stuart Thomas, broker/owner of RE/MAX Select One in Huntington Beach, Calif., hasn’t wavered for the past 13 years when it comes to offering each and every client that comes through the door the option to purchase a high-quality home warranty. After meeting […] …read more
From:: Finance and Economy
WASHINGTON (MarketWatch) — The security lockdown at the White House was caused by an unattended package found across the street in Lafayette Park, according to news reports. President Barack Obama is not at home, having left earlier to meet with wounded veterans at the Walter Reed National Military Medical Center in Bethesda.
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From:: Stock Market News
Toys R Us announced it will hire 40,000 seasonal workers for the holiday shopping season, fewer than the 45,000 the company hired last year. A company spokeswoman says an increase in the number of hours seasonal hires can work was the main reason for the change. Seasonal staff will work an average of 18 to 20 hours per week. During peak season, workers will be given 30 hours, depending on availability. There will also be additional hours available for existing workers. Last year, seasonal workers were given an average of seven hours per week and up to 20 hours during peak season. Interviews for this year’s open positions will begin this month with new hires starting in October. Staffing will continue through December and will cover everything from sales staff to omnichannel fulfillment employees. Hiring at distribution centers will continue through November. Seasonal workers may be asked to stay on permanent basis. Last year, the company says it retained 20% of its holiday workers.
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From:: Stock Market News
Shares of Hewlett-Packard Co. rallied on Wednesday after the company announced job cuts of up to 30,000 to reduce expenses. The latest layoffs are a part of the company’s plan to split into two entities–one for printer and personal computers and one for enterprise. They are in addition to 55,000 workers it has laid off as part of a restructuring that began in 2012. H-P shares rose 3.8% to $28.15. The stock is down 30% year to date.
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From:: Stock Market News
A merger of Anheuser-Busch InBev N.V. and SABMiller Plc makes sound strategic sense and is possible from a financial viewpoint, Sterne Agee CRT analysts said Wednesday. The brokerage was responding to the news that Anheuser-Busch has approached SABMiller about a possible takeover, in a deal that would value the company at more than $75 billion. “Since beer growth has been weak, market views acquisition as a need-to-have for BUD,” analysts wrote in a note. As few targets remain, the market has been counting on SABMiller to be Anheuser’s next target, they wrote. The combination of two such powerful players is likely to lead to forced asset sales, but there should be willing buyers, said the note. Molson Coors Brewing Co. is likely to be willing to buy the stake in the Miller Coors joint venture it does not already own. Kirin Holdings Co. Ltd. and/or Asahi Group Holdings Ltd. may be ready to buy the Asia-related assets if China/Snow has to be divested. “BUD can also further JV-out Eastern Europe/Russia to Efes to reduce exposure to this market,” said Sterne Agee. “And Altria /Santo Domingo have recently seemed more willing to participate.” Anheuser-Busch shares were last up 8%, while SABMiller shares closed up about 20% in London.
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From:: Stock Market News
Emerging-markets currencies strengthened against the dollar Wednesday as investors closed out short positions ahead of a decision from Federal Reserve policy makers on whether or not to raise interest rates. The Fed’s rate-setting committee began its two-day policy meeting on Wednesday, and will announce its decision at 2 p.m. Eastern when it releases its policy statement. The statement will be followed by a press conference with Fed Chairwoman Janet Yellen. The Russian ruble was the day’s best performer, rising 2.4% to trade at 65.25 rubles to the dollar, its highest level in two weeks, as crude oil prices rose. The Malaysian ringgit was up 1.4% to 4.22 ringgit to the dollar, its highest level in nearly two weeks. The South African rand also rose to a two-week high of 13.28 to the dollar. It was up 1.4% on the day. The jump in emerging-markets currencies may reflect growing expectations that the Fed will leave rates unchanged. These currencies have been battered by U.S. rate-hike expectations, as higher interest rates in the U.S. would make assets denominated in emerging-markets currencies less attractive by comparison.
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From:: Stock Market News
President Barack Obama said a possible government shutdown in two weeks would be a self-inflicted wound and urged Congress to pass a budget. Speaking to the Business Roundtable, Obama said the last shutdown, in 2013, cost the economy billions of dollars. Federal government funding expires on Sept. 30, and if lawmakers do not pass spending bills before then, a partial shutdown would begin Oct. 1.
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From:: Stock Market News
Oil prices pared some gains on Wednesday after the U.S. Energy Information Administration reported a fall of 2.1 million barrels in crude supplies for the week ended Sept. 11. Analysts polled by Platts forecast a crude-stock fall of 200,000 barrels, while the American Petroleum Institute Tuesday said supplies declined by 3.1 million barrels, according to sources. Gasoline supplies rose 2.8 million barrels while distillate stockpiles climbed by 3.1 barrels last week, according to the EIA. October crude was at $45.70 a barrel, up $1.11, or 2.5%, on the New York Mercantile Exchange. Prices traded at $45.80 before the report.
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From:: Stock Market News
WASHINGTON (MarketWatch) — Builder confidence in the market for newly constructed single-family homes rose a point to 62, the highest level since Nov. 2005, according to the National Association of Home Builders/Wells Fargo housing market index released Wednesday. Economists polled by MarketWatch expected a 61 reading. Any reading above 50 indicates good conditions.
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From:: Stock Market News
WASHINGTON (MarketWatch) — The median household income was $53,657 last year, down from $54,462 in 2013 but not statistically different, the Census Bureau said Wednesday. The poverty rate was 14.8%, which means 46.7 million people were impoverished — the fourth straight year in which the number of people in poverty was not statistically different. The percentage of people without health insurance coverage for the entire 2014 calendar year was 10.4%, down from 13.3% in 2013.
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From:: Stock Market News