The average interest rate for a 30-year mortgage has now topped 5%, the highest point in more than a decade. The sudden rise has cooled interest in home loans, and some experts are predicting home sales could slow this year as some buyers get priced out of the market. Interest …
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Young women are earning as much as or more than their male counterparts in 22 U.S. cities, Pew Research found in a new research report. That could be a sign that educational gains by women and laws about pay transparency are helping to narrow the earnings gap between men and …
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Estée Lauder on Monday said it had fired John Demsey after the senior executive had posted material on Instagram that “caused widespread offense.” Demsey has taken down the post that led to his firing, which the Daily Beast reported was a meme that included a racial slur. In a recent post …
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The NBA’s Golden State Warriors have distanced themselves from executive board member and minority owner Chamath Palihapitiya after he repeatedly said he didn’t care “about what’s happening to the Uyghurs” on a podcast. “As a limited investor who has no day-to-day operating functions with the Warriors, Mr. Palihapitiya does not …
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Corporate layoffs are falling to their lowest level in nearly 30 years as the U.S. job market bounces back from the coronavirus pandemic. The number of announced job cuts in November fell to 14,875, according to outplacement firm Challenger, Gray & Christmas. That’s the lowest figure since May 1993. “[I]t’s …
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Peter Buck, a nuclear physicist whose $1,000 investment in the first Subway sandwich shop more than 50 years ago eventually turned him into a billionaire, has died at age 90. It was Buck who inspired Fred DeLuca, then a 17-year-old college freshman, to start a submarine sandwich chain to help …
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The U.S. Food and Drug Administration announced the recall of 2.2 million home COVID-19 tests made by Ellume, the first company to get FDA approval for over-the-counter COVID tests, due to “higher-than-acceptable false positive test results.” The recall is an expansion of last month’s recall of 200,000 kits for the same …
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Coca-Cola’s cash deal to buy sports drink BodyArmor has netted millions of dollars in profit for the beverage’s early investors, including basketball legend Kobe Bryant. Coke said Monday it paid $5.6 billion for the outstanding 85% stake in BodyArmor. Coke originally bought a 15% stake in the line of beverages …
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