The average rate on a 30-year mortgage in the U.S. moved higher for the third week in a row and reached the highest level since late August. The rate rose to 6.44% from 6.32% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.63%. Mortgage rates are influenced by several…… MORE
US Shoppers Spent More at Retailers Last Month in Latest Sign Consumers Are Driving Growth
WASHINGTON (AP) — Americans stepped up their purchases at retailers last month as low unemployment, steady pay gains and rising stock and home values helped sustain their willingness to spend despite higher prices. Retail sales rose 0.4% from August to September, up from 0.1% the previous month and the third straight increase. Online retailers, restaurants,…… MORE
Big Tech’s Energy Needs Mean Nuclear Power is Getting a Fresh Look From Electricity Providers
NEW YORK (AP) — Nuclear power is garnering renewed attention amid growing demand for power and cleaner energy. The power source has seen a resurgence as nations focus on reducing emissions in an effort to combat climate change. At the same time, the technology sector’s energy needs are growing in the form of data centers…… MORE
Netflix’s Subscriber Growth is Slowing, but Its Profit and Stock Price Are Still Surging
Netflix says its subscriber growth slowed dramatically during the summer, a sign that the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off. The 5.1 million subscribers that Netflix added during the July-September period represented a 42% decline from the total gained during the same time last year. Even so, the…… MORE
Supreme Court Allows Rule Limiting Pollution From Coal-Fired Power Plants to Remain in Effect
WASHINGTON (AP) — The Supreme Court has allowed a Biden administration rule aimed at limiting planet-warming pollution from coal-fired power plants to remain in place as legal challenges play out. The court on Wednesday rejected a push from Republican-led states and industry groups to block the Environmental Protection Agency rule. One conservative justice publicly dissented…… MORE