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☆ China's economic challenges gather steam as new loans plunge, property fears loom
▼ + stars: | 2023-08-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Real estate problems persist with once-healthy developer Country Garden now on the brink of default. Real estate dragChina's massive real estate sector, where the majority of household wealth is parked, has reemerged as an area of concern that it could drag down the broader economy. Developer Country Garden announced over the weekend it was suspending trading in at least 10 of its mainland-China traded yuan bonds. The more the government tries to help the real estate industry, the longer it takes for the industry to find a reasonable bottom. State-owned developers have also fared better in terms of recent sales than non-state-owned developers, data show.

Persons: Aly Song, Lu Ting, corporates, Xiangrong Yu, Goldman Sachs, Louis Lau Brandes, Louis Lau Organizations: Bund, Reuters, Nomura, Citi New, Citi, Garden, ., Country Garden's U.S, China U.S, Goldman, Louis Lau Brandes Investment Partners, Brandes Investment Partners Locations: Pudong, Shanghai, China, Reuters BEIJING, Japan, today's China, corporates, State, South Korea

☆ Bonds bruised, China stocks and rouble sink
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +4 min

With seasonal trading volumes so thin and the events and data diary bare today at least, there's a danger of over-interpreting recent market developments. But the backup in long-term U.S. bond yields over the past couple of weeks despite relatively unchanged expectations for Federal Reserve policy moves has clearly unsettled investors. Although 2-year Treasury yields remain below 5% and are lower than they were at midyear, 10-year Treasury yields continue to probe 9-month highs around 4.20% and the yield curve has disinverted by some 20 basis points this month as a result. China's yuan hit its lowest since June as traders look to a possible easing of 1-year interest rates on Tuesday. Events to watch for on Monday:* U.S. Treasury auctions 3-, 6-month billsReuters GraphicsReuters Graphics Reuters GraphicsReuters GraphicsReuters GraphicsBy Mike Dolan, editing by XXXX <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>.

Persons: Brendan McDermid, Mike Dolan, Fitch, Goldman Sachs, Russia's Organizations: New York Stock Exchange, REUTERS, Micron Technology, Federal Reserve, United States, AAA, Treasury, . Treasury, Kremlin, Shanghai, Reuters, Thomson Locations: New York, U.S, United, midyear, China, Japan, Ukraine, Hong Kong, Asia

☆ When student loan payments resume, 56% of borrowers say they'll have to choose between their debt and buying groceries
▼ + stars: | 2023-08-13 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

Federal student loan payments are coming back, and they're going to wreak havoc on borrowers' budgets. Cutting back on nonessential spending will be the most typical way borrowers will adjust to make their student loan payments, according to Credit Karma. Even higher earners will struggle when payments resumeUnsurprisingly, 68% of borrowers with household incomes under $50,000 say they'll have to choose between keeping up with their loan payments and buying necessities, Credit Karma finds. Still, only 34% of borrowers say they'll apply for an IDR plan to lower their monthly payments, according to Credit Karma. 3 tips to manage student loan repayment and other bills

Persons: Biden, Karma Organizations: Karma

☆ The death toll rises to 80 in Maui wildfires as survivors begin returning to communities in ruins
▼ + stars: | 2023-08-12 | by ( ) www.cnbc.com time to read: +7 min

Maui residents John Rey Serrano and Lexie Lara look from a road above Lahaina Town in the aftermath of a wildfire in Lahaina, western Maui, Hawaii on August 11, 2023. Maui County raised the number of confirmed deaths to 80 in a 9 p.m. statement Friday. Cadaver-sniffing dogs were deployed to search for the dead, Maui County Mayor Richard Bissen Jr. said. Maui County's hazard mitigation plan updated in 2020 identified Lahaina and other West Maui communities as having frequent wildfires and several buildings at risk. The report also noted West Maui had the island's second-highest rate of households without a vehicle and the highest rate of non-English speakers.

Persons: John Rey Serrano, Lexie Lara, Anthony Garcia, Garcia, I'm, Josh Green, Green, Richard Bissen Jr, Anne Lopez, Lopez, Lynn Robinson, Kyle Scharnhorst, Gilles Gerling, Karen Clark, Bobby Lee, Andrew Whelton, Lana Vierra, Riley Curran, Curran, I've Organizations: roosters, Gov, Hawaii News, Associated Press, Iniki, Karen Clark & Company, Hawaii Firefighters Association, Purdue University Locations: Maui, Lahaina, Hawaii, Maui County, Kaanapali, West Maui, U.S, California, Paradise, Molokai, Kula

☆ Alexandria Ocasio-Cortez and House Democrats push Attorney General Merrick Garland to investigate Clarence Thomas' lavish gifts from billionaires
▼ + stars: | 2023-08-12 | by ( Azmi Haroun | ) www.businessinsider.com time to read: +3 min

A group of House Democrats has asked the DOJ to investigate Supreme Court Justice Clarence Thomas. The letter stated that Thomas should be investigated because of the dozens of gifts he failed to disclose. On Thursday, after ProPublica published its latest report, a chorus of Democrats called on Thomas to resign, according to Politico. In April, Crow and Thomas first faced scrutiny related to the 20 years worth of undisclosed trips Crow is accused of gifting to Thomas, per ProPublica. The outlet later reported that Crow purchased Thomas' mother's house and allowed her to live there without paying rent.

Persons: Clarence Thomas, Thomas, Alexandria Ocasio, Cortez, Garland, Harlan Crow, ProPublica, Crow, unearthing, SCOTUS, Jamie Raskin, Hank Johnson, Ted Lieu, Jerry Nadler, Thomas's, gifting, Thomas —, —, Michaela Rose, John Roberts Organizations: House Democrats, DOJ, Service, Supreme, of Justice, GOP, Democrats, Politico, Reps, Dallas Morning News, ProPublica, SCOTUS Locations: Wall, Silicon, Alexandria, Rochelle

☆ A Democratic House candidate said he was dropping out of the race because of a 'lack of joy.' Eight hours later, he said it was a mistake and is still in the race
▼ + stars: | 2023-08-11 | by ( Madison Hall | ) www.businessinsider.com time to read: +2 min

The campaign of House candidate Aditya Pai sent out an email Thursday morning dropping out of the race. Eight hours later, the campaign reversed course in a follow-up email. Eight hours later, it sent a follow-up message saying he was "not going anywhere." Eight hours later, Pai's campaign sent out an email with a completely different message: "I am not going anywhere." Pai's campaign is currently sitting on just over $81,000, about $26,000 more than fellow Democratic candidate Kim Nguyen.

Persons: Aditya Pai, candidate's, Michelle Steel, baring, Pai, Cheyenne Hunt, Kim Nguyen, Steel Organizations: Service, Democratic, Congressional, Republican, Orange County Register, FEC Locations: Wall, Silicon, California's, Orange, Cheyenne

☆ U.K. Economy Grows Weakly
▼ + stars: | 2023-08-11 | by ( Kevin Granville | ) www.nytimes.com time to read: +4 min

The data beat the Bank of England’s forecast last week for 0.1 percent growth, and some economists had predicted a quarter of no growth. For over a year, beginning with the second quarter of 2022, Britain’s economy expanded each quarter by 0.1 percent — except for the July-September period last year, when it contracted by the same amount. Comparisons: Growth in Europe and United StatesIn Europe, the 20 countries that use the euro currency haven’t faired much better in terms of economic growth. The eurozone expanded 0.3 percent in the second quarter, after stalling earlier in the year and shrinking 0.1 percent late last year. “Low economic growth and stagnant productivity is increasing the financial vulnerability of households in the bottom half of the income distribution and the incidence of destitution at the poorest end,” the report said.

Persons: King Charles, Andrew Bailey, “ Organizations: Office, National Statistics, Bank of England’s, Bank of England, Bank, National Institute of Economic, Social Research Locations: Britain, Europe, United States, London

☆ The new twist in Hunter Biden’s case is a huge political headache for his father
▼ + stars: | 2023-08-11 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

CNN —A sudden new twist in the investigation into Hunter Biden means his legal tribulations will likely stretch on for months, creating an unwelcome new drag on his father’s White House and reelection bid. Just weeks ago, the shadow of criminal suspicion over Hunter Biden seemed about to lift. The change of status followed the collapse of a deal last month that likely would have seen Hunter Biden get sentenced to probation after pleading guilty to two misdemeanor tax charges. But the symbolic weight of an appointment of a special counsel stiffens the perception of scandal and potential wrongdoing even if the legal realities of the case haven’t shifted. Important differences between Hunter Biden and Trump casesThere are two important distinctions between Biden and Trump that the Republicans are trying to blur.

Persons: Hunter Biden, David Weiss, Joe Biden’s, Weiss, Joe Biden, Alberto Gonzales, Jake Tapper ”, it’s, …, ”, Gonzales, George W, Bush, Merrick Garland, Hunter Biden’s, Abbe Lowell, CNN’s Kaitlan Collins, Lowell, Trump, Garland, Clinton, Biden, Donald Trump, It’s, Tanya Chutkan, David Axelrod, Barack Obama, Biden’s, Hunter, Tapper, James Comer –, –, “, Joe Biden hasn’t, ” Comer, Comer, he’s, General Garland, Kevin McCarthy, couldn’t, Carolina Sen, Lindsey Graham, General Garland’s, Hunter Biden – Organizations: CNN, House, Justice Department, White, House Republicans, Trump, Republican, GOP Locations: Delaware, Weiss, Florida, Ukraine, China, Kentucky, California, Carolina

☆ Reactions to appointment of a special counsel in Hunter Biden case
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +6 min

Weiss said Hunter Biden may be headed for trial on criminal charges after talks on a potential plea deal reached an impasse. If Weiss negotiated the sweetheart deal that couldn’t get approved, how can he be trusted as a Special Counsel? Garland appointing Weiss as a sham special counsel on Hunter is a way to block info from Congress while claiming they're investigating. The Biden Justice Department is trying to stonewall congressional oversight as we have presented evidence to the American people about the Biden family's corruption." REPUBLICAN REPRESENTATIVE LAUREN BOEBERT ON X:"Merrick Garland just announced that he will appoint US Attorney Weiss as Special Counsel to look into Hunter Biden's matters.

Persons: Hunter Biden, Joe Biden, Jonathan Ernst, General Merrick Garland's, David Weiss, Joe Biden's, Weiss, KEVIN MCCARTHY, Biden, couldn’t, DICK DURBIN, Garland, Biden’s, Trump, Trump’s, STEVE SCALISE, Hunter, STEVEN CHEUNG, DONALD TRUMP, RUSSELL, JIM JORDAN, David Weiss can’t, JAMES COMER, General Garland, Biden's, LINDSEY GRAHAM, you've, BYRON DONALDS, LAUREN BOEBERT, Merrick Garland, I'm, NIKKI HALEY, Moira Warburton, David Morgan, Josephine Walker, Jasper Ward, Howard Goller Organizations: REUTERS, TWITTER, DOJ, Republicans, DEMOCRATIC, Justice Department, U.S, Justice Department’s, Biden, REPUBLICAN, Biden Justice Department, FOX, Biden Fam, US, Department of Justice, Thomson Locations: Wilmington , Delaware, U.S, Delaware, Washington

☆ Reactions to appointment of a US special counsel in Hunter Biden case
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +6 min

☆ Amazon Cuts Dozens of House Brands as It Battles Costs, Regulators
▼ + stars: | 2023-08-10 | by ( Dana Mattioli | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/amazon-cuts-dozens-of-house-brands-as-it-battles-costs-regulators-3f6ad56d

Persons: Dow Jones

People wearing face masks are seen on an overpass in front of a residential building in Beijing, China August 11, 2020. Investors may get their first read on the market reaction when official property investment and price data for August is released next month. It was not the curbs that were holding the market down, they said, but Chinese doubts about better days ahead. While not bullish on real estate, she thinks of big-city properties as a "slightly bruised apple amidst a bunch of rotten ones." "I'm concerned about the change," said a 26-year-old pharmaceuticals worker surnamed Song, who had considered buying a property in Beijing before realising he needed his parents' support.

Persons: Tingshu Wang, Kate Ren, hasn't, Ren, Ting Lu, Sophia Chen, Chen, Zhuran Zhang, Zhang, Song, Liangping Gao, Ella Cao, Shuyan Wang, Marius Zaharia, Sam Holmes Organizations: REUTERS, Nomura, Investors, July's Communist Party, Reuters, Thomson Locations: Beijing, China, BEIJING, HONG KONG, Shanghai, China's, Zhengzhou, Hangzhou

☆ American price elasticity stretched to the limit
▼ + stars: | 2023-08-10 | by ( Ben Winck | ) www.reuters.com time to read: +3 min

WASHINGTON, Aug 10 (Reuters Breakingviews) - The United States may be over the hump on inflation, but consumers aren’t acting like it. Lingering restraint will stretch the power of price elasticity to its limits. Similarly, PepsiCo’s (PEP.O) 14% increase in North American prices of Mountain Dew, Tropicana orange juice and other beverages cost it 4% in quarterly sales. Strong appetites for Oreos and Wheat Thins lifted Mondelez International’s (MDLZ.O) sales 2% in the United States, Canada and Mexico, even as prices climbed 10%. They have climbed 3.5% from a year earlier, surpassing the 3.2% annual increase in the Consumer Price Index.

Persons: Mondelez, Darden, Ricardo Cardenas, Laxman Narasimhan, Marriott, Jeffrey Goldfarb, Aditya Sriwatsav Organizations: Reuters, of Michigan, U.S . Bureau of Labor Statistics, Capital, Procter & Gamble, Delta Air Lines, United Airlines, Reuters Graphics Reuters, U.S, of Labor Statistics, Thomson Locations: States, Dew, United States, Canada, Mexico, American

☆ Massive home-price appreciation might be the secret to keeping consumers afloat as savings dry up
▼ + stars: | 2023-08-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Homeowners' equity is the highest it's been in 25 years, which could provide a cushion as consumer savings dwindle. That trend could be set to continue as the massive accumulation of home equity provides a lifeline that consumers can tap into if things get tough. Bankrate data shows that home equity lines of credit, or HELOCs, are currently carrying an average rate close to 7%. Home equity revolving credit balances climbed for the fourth straight quarter leading up to March 2023, which presents another factor that could help sustain consumer spending. Now, real estate accounts for about 25% of total household assets, and despite deteriorating savings, still-rising equity presents a potential path forward for consumers to keep spending, Quinlan and Seery said.

Persons: Tim Quinlan, Shannon Seery, that's, Quinlan, Seery Organizations: Soaring, Service, Homeowners, Federal Reserve Board, Wells Locations: Wells, Wall, Silicon, Wells Fargo

☆ Inflation ticked up in July, pausing a year of slowing price growth
▼ + stars: | 2023-08-10 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

Inflation as measured by the CPI was expected to accelerate, with a year-over-year CPI forecast of 3.3% for July after June's 12-month change of 3.0%. Inflation had been cooling for 12 straight months before the latest CPI release. That increase is around the forecast, a year-over-year increase of 4.8%. The food index surged 4.9% year over year in July. "Despite elevated inflation, longer-term inflation expectations appear to remain well anchored, as reflected in a broad range of surveys of households, businesses, and forecasters, as well as measures from financial markets."

Persons: That's, Tom Garretson, Garretson, Greg McBride, Jerome Powell Organizations: Service, Index, Bureau of Labor Statistics, CPI, RBC Wealth Management, Federal Locations: Wall, Silicon

☆ Here's the inflation breakdown for July, in one chart
▼ + stars: | 2023-08-10 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

July's CPI report was "better than we were expecting," said Eugenio Aleman, chief economist at Raymond James. Nearly all of the monthly inflation increase came from shelter costs, which increased by 0.4% and were up 7.7% compared with one year ago. Despite rising oil costs, energy prices increased just 0.1% in July and food increased 0.2%, according to the bureau. However, there was relief for used vehicle prices, which dropped by 1.3%, and medical care services, which were down 0.4%. 'Jumping oil prices' is a threat to inflation targetwatch nowMillions of households are 'stretched financially'Despite falling inflation, many Americans are still feeling the pinch of higher prices.

Persons: July's, Eugenio Aleman, Raymond James, it's, Aleman, Greg McBride, It's Organizations: U.S . Bureau of Labor Statistics, July's CPI Locations: U.S

In this article SBGINXSTGTNSSP Follow your favorite stocks CREATE FREE ACCOUNTChristian Petersen | Getty Images Sport | Getty ImagesTensions are building among broadcast station owners and pay TV providers as the local rights to air NBA, NHL and MLB games go up for grabs. Pay-TV providers are also exploring alternatives to keep local games in the bundle. The NBA's Phoenix Suns and Utah Jazz recently reached deals to be be aired on local broadcast networks run by Gray and Sinclair, respectively. "The reality is that the issue people keep talking about is the rights fees. But the rights fees aren't necessarily the question," said Berke.

Persons: Christian Petersen, Sinclair, Diamond, Bill Morrow, RSNs, George Kubas, Lee Berke, There's, Gray, Brian Lawlor, Lawlor, Jeff Speer, —, Ion, Berke, David Peralta, Kole Calhoun, Starling Marte Organizations: Getty, NBA, NHL, MLB, Scripps Co, Gray Television, Nexstar Media Group, Diamond Sports Group, Warner Bros, Broadcasters, Comcast, Charter, DirecTV, Gray, Nexstar, Communications, Ohio, Bally Sports, Cincinnati Reds, Cleveland Guardians, Progressive, Diamond Sports, Diamond, Phoenix Suns, Utah Jazz, Clipper, Las Vegas Golden Knights, NHL Stanley, Scripps, Scripps Sports, Knights, Warnes Bros, Vegas Golden Knights, Florida Panthers, Mobile, — ABC, NBC, CBS, Fox, CW Network, Nexstar's CW Network, ACC, Nascar, Suns, Arizona Diamondbacks, Oakland Athletics, Chase Field, The Diamondbacks Locations: Cleveland, Los Angeles, Las Vegas, Las Vegas , Nevada, Phoenix , Arizona

☆ How a safari led me to discover the ancient history of house cats
▼ + stars: | 2023-08-10 | by ( Jonathan Losos | The Conversation | ) www.businessinsider.com time to read: +9 min

But further scrutiny revealed distinctive features: legs slightly longer than those of most domestic cats, and a striking black-tipped tail. I explored this question in my book "The Cat's Meow: How Cats Evolved from the Savanna to Your Sofa." But tomb paintings and sculptures show that by 3,500 years ago, domestic cats lived in Egypt. Or you can measure the length of its intestines – longer in domestic cats to digest vegetable-based food provided by or scavenged from humans. The common view that domestic cats are aloof loners couldn't be further from the truth.

Persons: Jonathan Losos, I've, felines, –, Sophie Kleeman, loners couldn't, Thomas Winz, who's, William H, Danforth, St . Louis Organizations: North African Wildcat, Service, wildcats, African wildcats, pumas –, Vikings, Arts & Sciences, Washington University Locations: Wall, Silicon, Africa, New Jersey, South Africa, Egypt, Turkey, Syria, Iran, Europe, North America, Asia, St .

☆ Fast, cheap and deadly
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +18 min

Fast, cheap and deadly How fentanyl replaced heroin and hooked AmericaLeer en EspañolReuters obtained and analyzed ten year’s worth of data on drugs seized by U.S. Customs and Border Protection (CBP) agents at ports of entry along the southern border. It shows: Fentanyl seizures by weight more than tripled in the last quarter of 2022 compared to a year earlier. Pills were mentioned in nearly half of fentanyl border seizure incidents in 2022, up from just 6% five years earlier. A fifth of fentanyl seizures take place on pedestrians, the Reuters analysis shows. Over the same period, heroin seizures fell more than 80% from over 2,000 kg, according to the Reuters analysis.

Persons: Bryce Pardo, Troy Miller, Joe Biden, Andres Manuel Lopez Obrador, ”, Chris Urben, Urben, Joaquin ‘ El Chapo ’ Guzman, “, CBP’s Miller, Jonathan Caulkins, James Mandryck, Oxycontin, Lopez Obrador, narcotrafficking, Lopez, Rosa Rodriguez, Cecilia Farfan, Mendez, Freed, Pardo, Romain Le Cour, Cour, Carlos Perez, Perez Organizations: Reuters, U.S . Customs, Border Protection, U.S . Centers for Disease Control, United Nations Office, Drugs, DEA, CBP, U.S, Nardello, Carnegie Mellon University, U.S . Postal Service, Chinese Foreign Ministry, Mexico's, North, Forensic Laboratory, University of California, Global, Transnational, U.S . Congress ’ Commission, New Generation, Center for Research Locations: Mexican, U.S, Mexico, Sinaloa, El Paso, Arizona’s Nogales, United States, offscreen, sierra, China, Beijing, Washington, University of California San Diego ., ”, New, New Generation Jalisco, Mexico City

☆ China’s Economy Faces Yet Another Threat: Falling Prices
▼ + stars: | 2023-08-09 | by ( Keith Bradsher | More About Keith Bradsher | ) www.nytimes.com time to read: +1 min

The United States has spent much of the past 18 months struggling to control inflation. China is experiencing the opposite problem: People and businesses are not spending, pushing the economy to the verge of a pernicious condition called deflation. For 10 straight months, the wholesale prices generally paid by businesses to factories and other producers have been down from a year earlier. Deflation is particularly serious in a country with very high debt, like China. Overall debt is now larger in China, compared with national economic output, than in the United States.

Organizations: National Bureau of Statistics Locations: States, China, Japan, United States

☆ Consumer credit card debt tops $1 trillion for the first time ever
▼ + stars: | 2023-08-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Consumer credit card debt just topped $1 trillion for the first time ever, according to the Federal Reserve. A recent survey from BankRate found 47% of consumers are carrying credit card debt from month to month. Consumer credit card debt increased 4.6% in the second-quarter to a record $1.03 trillion, compared to $986 billion in the first quarter. Lower-income households were more likely to carry credit card debt from month to month, according to the survey, with 53% of cardholders with annual incomes below $50,000 carrying debt. "Yes, that's a lot of credit card debt, but most people are worth a lot more."

Persons: Joelle Scally, BankRate, Bankrate, they're, Scally, Carson, Ryan Detrick Organizations: Federal Reserve, Federal Reserve Bank of New, New York Fed, Fed Locations: York, Federal Reserve Bank of New York, CreditCards.com

☆ O'Shae Sibley's killing unites New York's Black LGBTQ community in grief, defiance
▼ + stars: | 2023-08-08 | by ( Chandelis Duster | ) edition.cnn.com time to read: +5 min

CNN —O’Shae Sibley’s passion for dance was transcendent. Sibley’s death has renewed fears for their safety, several members of New York’s LGTBQ+ community told CNN. “I’m just trying to keep going.”Kemar Jewel, left, and O'Shae Sibley are seen together in this image provided by Jewel. After news of his death broke, Beyoncé honored Sibley, posting, “REST IN POWER O’SHAE SIBLEY” on her website Wednesday. He even volunteered to teach others how to do the dance, Jewel told CNN.

Persons: O’Shae, ”, Kayden Coleman, Sibley, they’ve, Jewel, ” “, “ I’m, O'Shae Sibley, voguing, Beyoncé, Big, DJ, Honey Dijon, SIBLEY ”, ” Jewel, Coleman, Shneaqua Purvis, ” Purvis, “, … Organizations: CNN, Sibley ., New York City Police Department, New York Division, Criminal, Services, Human Rights, Madison, National Museum of, House Old Navy, House, Violence Inc Locations: Brooklyn, Philadelphia, New York, Versailles

☆ Bank of America breaks down the 4 cities facing the biggest housing shortages right now — and the 3 where there's still plenty of room
▼ + stars: | 2023-08-08 | by ( Mark Reeth | ) www.businessinsider.com time to read: +7 min

A recent report by the Bank of America Institute compared population with housing supply. San Antonio, Dallas, Orlando, and Houston have high population growth and low housing supply. Anna Zhou, an economist at the Bank of America Institute, said in a recent report that housing supply is unusually constrained right now, as measured by months' supply. Finally, cities in the upper-left quadrant identified in red have high housing supply but a declining population, putting them in the "cold" group. Zhou highlighted San Antonio, Dallas, Orlando, and Houston as among the "hot" cities experiencing high population growth coupled with low housing supply.

Persons: Anna Zhou, Zhou, That's, US . Bank of America Zhou Organizations: Bank of America Institute, Houston, Bank of America, National Association of Realtors, US . Bank of America, BofA Global Research, Jacksonville, Las Vegas, Portland , Oregon ., Portland , Oregon . Los Angeles Locations: San Antonio, Dallas, Orlando, Cities, Tampa, Jacksonville, Antonio, Houston, 2Q24, St, Louis, Detroit, Miami, droves, Jacksonville , Florida, Columbus , Ohio, Charlotte, Nashville, San Francisco , New York, Boston, Portland , Oregon, Portland , Oregon . Los

☆ UK house prices fall for 4th month but market shows resilience - Halifax
▼ + stars: | 2023-08-07 | by ( William Schomberg | ) www.reuters.com time to read: +3 min

But the decline in house prices has so far been small compared with the surge in valuations during the COVID pandemic. Kim Kinnaird, director of Halifax Mortgages, said house prices were likely to continue falling into next year, echoing previous comments by the lender. A Reuters poll of analysts published in early June pointed to a 3% fall in house prices in 2023 before flat-lining in 2024. This should leave house prices 10.5% below their peak on the Nationwide measure." Nationwide, another mortgage lender, said last week its index of house prices fell by the most since 2009 in the 12 months to July.

Persons: Susannah Ireland, Kim Kinnaird, Kinnaird, Imogen Pattison, William Schomberg, Kate Holton, Bernadette Baum Organizations: City of, REUTERS, Halifax, Bank of England, Capital Economics, Nationwide, Thomson Locations: City, City of London, South London, Britain, Halifax

☆ Campbell Soup CEO talks merger with Rao's sauce maker: 'This is a juggernaut'
▼ + stars: | 2023-08-07 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Campbell Soup CEO Mark Clouse told CNBC's Jim Cramer on Monday that his company's acquisition of Rao's sauce maker Sovos Brands is one of the best growth stories in the food business. Along with Rao's, Sovos also owns yogurt brand Noosa and frozen food brand Michael Angelo's. However, the premium Italian sauce brand is Sovos' money maker, representing 69% of its adjusted net sales in 2022, the company said. Clouse said the acquisition was an opportunity to drive Sovos' household penetration, or the portion of households reached by the products. He said the business is currently at 14% household penetration, while the benchmark for a premium brand is around 20%.

Persons: Campbell, Mark Clouse, CNBC's Jim Cramer, Rao's, Sovos, Michael Angelo's, Clouse, Monday's Organizations: Sovos, Pepperidge Locations: Noosa

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