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The United Auto Workers union is launching an unprecedented campaign to organize 13 non-union automakers in the U.S. after securing record contracts with the Detroit automakers. As part of the campaign workers are signing electronic cards in support of union efforts to potentially organize U.S. plants from those automakers. It is not guaranteed that the union would push to organize every plant or automaker that participates in the campaign. UAW President Shawn Fain has said the union's next mission after ratifying record contracts with General Motors, Ford Motor and Stellantis was to expand its ranks. Still, the UAW has a poor track record with trying to organize non-Detroit automakers.
Persons: Shawn Fain, Fain, , Stellantis Organizations: United Auto Workers, Detroit automakers, BMW, Honda, Hyundai, Mazda, Benz, Nissan, Subaru, Toyota, Volkswagen, Volvo, UAW, General Motors, Ford Motor, Detroit, Ford, GM, Lexus, " Workers Locations: U.S, Fremont, California, Georgetown , Kentucky
UAW aims to organize 13 nonunion automakers
  + stars: | 2023-11-29 | by ( Chris Isidore | ) edition.cnn.com   time to read: +4 min
New York CNN —The United Auto Workers union says it has started an effort to organize workers at 13 non-union automakers with US factories. The union said there are about 150,000 employees at 36 nonunion auto plants operated by the companies it is targeting in this campaign. That is slightly more than the union’s representation at the three unionized automakers, which have about 145,000 UAW members between them. But if a union organizing campaign is successful, the union will be made up of workers from the company. The union has filed complaints accusing many of the automakers of unfair labor practices during those earlier organizing efforts.
Persons: Jeff Allen, “ We’ve, , Allen, we’ve, , Shawn Fain, ” Fain Organizations: New, New York CNN, United Auto Workers, General Motors, Ford, US, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volkswagen, Volvo, Toyota Camry, Lexus, UAW, Workers, Tesla Locations: New York, Georgetown , Kentucky, America, Volkswagen’s, Chattanooga , Tennessee, Canton , Mississippi, Smyrna , Tennessee
Nearly 14 million people were under various winter weather alerts on Sunday as a post-Thanksgiving snowstorm moved over the Rockies and Central Plains and travelers trekked home after the holiday, forecasters said. Winter storm warnings were in effect on Sunday for parts of the upper peninsula of Michigan, while weather advisories were in effect for parts of the Midwest and Great Lakes region, the Weather Service Prediction Center said on Sunday. Moderate to heavy snowfall was expected to affect portions of the Southern Rockies and Central Plains, including much of Kansas, where as much as a foot of snow had fallen in some places as of Sunday. “Gusty winds and heavy snow will increase hazardous travel conditions,” the National Weather Service said.
Organizations: Rockies, Midwest, Weather, Southern Rockies, National Weather Service Locations: Central Plains, Michigan, Great Lakes, Kansas
Top Public and Private Colleges in the Midwest
  + stars: | 2023-11-20 | by ( ) www.wsj.com   time to read: 1 min
The University of Michigan is ranked No. 28 among all colleges nationwide in the WSJ/College Pulse ranking. Photo: Dominick Sokotoff/Zuma PressThe University of Michigan is the highest-ranked public school in the Midwest and the Rose-Hulman Institute of Technology is the region’s top private school in the WSJ/College Pulse 2024 Best Colleges in the U.S. ranking. Among public colleges, Michigan is followed by the University of Illinois Urbana-Champaign and the University of Illinois-Chicago. For private schools, the Illinois Institute of Technology and Northwestern University follow Rose-Hulman.
Persons: Dominick Sokotoff, Hulman Organizations: University of Michigan, WSJ, Zuma, Rose - Hulman Institute of Technology, University of Illinois, Illinois Institute of Technology, Northwestern University, Rose Locations: Midwest, U.S, Michigan, University of Illinois Urbana, Champaign, Chicago
New Construction Surprises to the Upside in October
  + stars: | 2023-11-17 | by ( Tim Smart | Nov. | At A.M. | ) www.usnews.com   time to read: +2 min
The pace of new construction quickened in October as both building permits and housing starts rose despite elevated mortgage rates, the government reported on Friday. New housing starts were 1.372 million compared to 1.346 million a month earlier. “A good inflation report and steadily declining mortgage rates provide some relief to the market. Also on a positive note, mortgage rates fell this week following the CPI and the resultant drop in bond yields from their recent highs. The 30-year fixed-rate mortgage fell to an average of 7.44% in the week ending Nov. 16, a drop from 7.5% a week earlier, Freddie Mac said on Thursday.
Persons: Wells, , Lisa Sturtevant, homebuyers, Freddie Mac, Odeta Kushi Organizations: Census Bureau, Department of Housing, Urban, National Association of Home Builders, MLS, homebuilders, , CPI, “ Builders, First Locations: Midwest, West
He ordered up an economic analysis and spoke to company officials about the plant, according to White House officials. On Thursday, Biden will visit Belvidere to showcase that same auto plant, which has reopened as part of the settlement of a targeted strike by the United Auto Workers union. O'Malley Dillon said the UAW contracts and the auto plant reopening reflect a larger focus on workers by the president. The contracts, if approved by 146,000 union members in the coming weeks, would dramatically raise pay for auto workers. Top assembly plant workers would earn roughly $42 per hour.
Persons: Joe Biden, Biden, he's, , Jen O’Malley Dillon, White, O'Malley Dillon, Donald Trump, Gene Sperling, Trump, Shawn Fain, J.B . Pritzker, Stellantis Organizations: WASHINGTON, Biden, White, United Auto Workers, Dodge, UAW, Labor, White House, Illinois Gov, Motors, Ford, Republican Locations: Chicago, Belvidere, China, United States
NOAA Climate.govThe map above depicts how much snow differs from average across all El Niño winters, regardless of El Niño’s strength. Snowfall during all stronger El Niño winters (January-March) compared to the 1991-2020 average (after the long-term trend has been removed). The number of years with below-average snowfall during the 13 moderate-to-strong El Niño winters (January-March average) since 1959. Red shows locations where more than half the years had below-average snowfall; gray shows locations where below-average snowfall happened in less than half the years studied. On the map above, darker reds indicate areas that have experienced more years of below-average snowfall during moderate-to-strong El Niño winters.
Persons: Niño, There’s, “ El Niño, ” Michelle L’Heureux, Jon Gottschalck, Snow, El Niño Organizations: CNN, National Oceanic, Atmospheric Administration, NOAA, El, Northeast Locations: El, California, Texas, Southwest, Washington, Baltimore, Northwest, Midwest, Northeast
For decades, cities have duked it out for titles like "best city for business" or "healthiest city in America," but now they're starting to compete for a new title: best place to ride out dystopia. While Sun Belt cities are working to mitigate these challenges, the increased risks also create an opportunity for once forgotten cities. The declaration has been followed up with investments in key areas — climate resilience was one of the four pillars that made up the city's four-year strategic plan released at the start of 2023. And the cities that could become climate havens have their weather downsides — Buffalo will still have some harsh winters, too. If Buffalo, Detroit, Pittsburgh, and other cities succeed in their climate-resilience agendas, they will grow, attracting residents from more at-risk areas of the country.
Persons: Tesla, Byron Brown, Redfin, Matthew E, Kahn Organizations: Los Angeles, Fortune, Sun, National Oceanic, Atmospheric Administration, Association of Environmental, Federal Emergency Management Agency, FBI, Street Foundation, Pittsburgh, The New York Times, University of Southern, Hoover Institution Locations: America, West, Midwest, Dallas, Houston, Atlanta, Buffalo , New York, Detroit, USA, Florida, California, South, Baltimore, Cincinnati, Phoenix, Angeles County, Miami, Dade County, Lake Erie, Buffalo, Duluth , Minnesota, Grand Rapids , Michigan, Chicago, Northern, Pittsburgh, Rust, Los Angeles, University of Southern California
Home values have held up this year despite historically high mortgage rates, but a new report from Realtor.com suggests that property prices could fall under pressure in the coming months. The firm said that price growth was flat — even as mortgage rates rose to a 23-year-high. Higher borrowing costs dampened demand, though it's possible homebuyers were worried that mortgage rates would soar even higher and wanted to buy before that could happen. Limited supply kept property prices afloat, as Realtor.com found that inventory fell 2% from October 2022. 13 cities where sellers are cutting pricesWhile listing prices are falling across the nation, the trend is especially noticeable in the South and Midwest.
Persons: Danielle Hale, Realtor.com, Hale, it's Locations: West, Midwest, Antonio , Texas, San Jose , California, Memphis , Tennessee, Dallas , Texas, Miami , Florida, South
Washington, DC CNN —US pending home sales ticked up in September despite mortgage rates surging over 7%. Pending sales were down 11% from a year ago. Pending sales had seen slight increases in June and July, despite elevated prices and higher mortgage rates. But mortgage rates topping 7% in August snapped that streak, and pending sales dropped 7% from July to August. “Because of home builders’ ability to create more inventory, new-home sales could be higher this year despite increasing mortgage rates,” said Yun.
Persons: , , Lawrence Yun, Yun, They’re Organizations: DC CNN, National Association of Realtors, South, West, , Midwest, Housing Locations: Washington, Northeast, Midwest
As Abortion Access Shrinks, Hospitals Fill in the Gaps
  + stars: | 2023-10-23 | by ( Allison Mccann | ) www.nytimes.com   time to read: +16 min
As Abortion Access Shrinks, Hospitals Fill in the Gaps For this article, Allison McCann and Jamie Kelter Davis spent time with a patient from Indiana as she underwent an abortion at a Chicago hospital. Alaska Fla. Hawaii 16% 18% 20%+ Total or six-week abortion ban Wash. Maine Mont. Dr. Jonah Fleisher is a co-director of the Complex Abortion Regional Line for Access, or CARLA, which helps abortion patients find appointments at four Chicago-area hospitals. Chronic Conditions and Abortion Bans These health conditions, especially when left untreated, can add risks for abortion patients. Alaska Fla. Hawaii Diabetes among women High blood pressure among women Cardiovascular disease among women 9% 11% 13%+ 28% 30% 32%+ 5% 6% 7%+ Total or 6-week abortion ban Total or 6-week abortion ban Total or 6-week abortion ban Wash. Wash. Wash. Maine Mont.
Persons: Allison McCann, Jamie Kelter Davis, , , Roe, Wade, Conn ., Dobbs, Jenni Villavicencio, Jonah Fleisher, CARLA, Laura Laursen, Laursen, Dr, Conn . Conn ., Kan ., Nev, PolicyMap, “ It’s, Allison Cowett, Erica Hinz, couldn’t, Caroline Nyheim, Qudsiyyah Shariyf, Megan Jeyifo, J.B . Pritzker, CARLA —, — you’re, Mr, Pritzker Organizations: ” RUSH University Medical Center, Health, Ore, Conn . Pa . Iowa Neb, N.J . Ohio Nev, Ill . Utah Md, ., . Ill . Utah Md, OB, Society for Family Planning, Midwest, RUSH University Medical Center, Diabetes, Conn . Pa . Iowa Neb . Ohio Nev, N.J ., N.M, Hawaii Diabetes, N.D ., Vt, Wis ., Pa . Conn . Iowa Neb, Pa . Iowa Iowa Nev, Nev . N.J ., Ariz . D.C, Black, S.C . Iowa Miss, Nev . D.C, White, Family Planning, Chicago Abortion Fund, South, Nurses, Chicago Abortion, Illinois, Gov Locations: Indiana, Chicago, Indianapolis, . Maine, N.D, Vt, Minn, N.H . Wis, Idaho, S.D, Mich, Conn, Conn . Pa . Iowa, N.J . Ohio, Ind, Ill . Utah, W.Va, Colo . Va, Kan, Calif, Mo, Ky, R.I, N.C, Tenn, Del, ., S.C ., Ga, Ala . Miss . Texas La, Alaska Fla, Hawaii, N.J, Nev . Ohio, . Ill . Utah, R.I . Tenn, Okla, Illinois, N.H . Wis . Idaho, Wyo, Conn . Pa . Iowa Neb . Ohio, N.J . Ind, Ariz ., Pa . Conn . Iowa, . Ind, . Ark, N.H, Wis . Idaho S.D, N.Y, Wash . Maine, N.D . Maine Maine Mont, Mont, Minn . Vt, Ore, Mass, Wis, Wis . Idaho Idaho, Conn . Conn, Conn . Conn . Pa, Pa . Iowa, Pa . Iowa Iowa Nev . Ohio, Neb . Ohio, Nev . N.J, Nev . N.J . Ohio, W.Va . Ind, Ill, Colo . Utah Utah Md, Md, W.Va . Va . Colo, Colo, Ky . Va . Va, Kan . Kan, R.I . Ky, Okla . Tenn, Ariz . Ark, Ala . Miss ., Ala . Ala . Miss, . Texas La . Texas Texas, La . Alaska Alaska Alaska Fla, Fla, Hawaii Hawaii Hawaii, Ohio, Pa . Minn, Neb, Mo . Md, Ala, Wash, Ky . N.J, Conn . Va . Ind, S.C . Iowa, Ariz, Tex, Nev ., Fla ., Massachusetts
Today, she has 300 pairs and "I tell my story about shoes because shoes keep me grounded," she told Insider. AdvertisementAdvertisementDoria told me, "this was a proud moment for me because I broke the bamboo ceiling. I call it the bamboo ceiling because the glass ceiling is easier to break," she said. The bamboo ceiling, you throw a stone it's gonna go back to you because the pliability of that how it's made up." But in the McDonald's culture, they told me that I didn't speak up enough in meetings, I didn't challenge others.
Persons: Myra Doria, Doria, , it's, I've, McDonald's, We've, They've, we've, people's Organizations: USA, Service, Field Locations: Philippines, McDonald's, San Antonio, Texas
NEW YORK (AP) — From auto production lines to Hollywood, the power of labor unions is back in the national spotlight. The tightest U.S. labor market in decades is adding to leverage workers feel they have to challenge their employers. UNION RATES HAVE BEEN FALLING FOR DECADES. That came around the same era that states also began to pass labor laws for their own public workers. Generally, states in the Northeast, upper Midwest and West Coast adopted more expansive collective bargaining laws — reaching all different categories of public employees, Vachon explains.
Persons: ” Alexander Colvin, Johnnie Kallas, , Eunice Han, Todd Vachon, Taft, Hartley, Vachon, Ronald Reagan, , John F, Kennedy, ” Vachon, Han, Colvin, ” Colvin Organizations: Cornell University's School of Industrial and Labor Relations, Associated Press, Cornell University’s Labor, P Global Market Intelligence, Labor, University of Utah, U.S . Federal Reserve, Rutgers School of Management, Labor Relations, Bureau of Labor Statistics, National Labor Relations, West Coast, Starbucks, Gallup Locations: Hollywood, Union, U.S, United States, Midwest, West
The drop in gasoline prices could benefit consumers and cool inflation. Before this week's drop, gasoline prices had posted a 7.4% jump in the third quarter, riding increases in crude oil futures after production cuts from Saudi Arabia, Russia and other OPEC+ members. U.S. wholesale gasoline prices are tumbling, with percentage drops per gallon on Wednesday between 6.9% and 10.8%. A flurry of weak economic data took more wind out of the market. Crude futures settled an eye-popping $5 a barrel lower on Wednesday, and fell another $1.66 on Thursday.
Persons: Bing Guan, JP Morgan, Tom Kloza, Kloza, Laura Sanicola, David Gregorio Our Organizations: Mobil, REUTERS, U.S . Energy, Administration, U.S ., Midwest, Oil Price Information Service, ADP, Oil, Thomson Locations: Beverly Boulevard, West Hollywood , California, U.S, Saudi Arabia, Russia, U.S . East Coast, East
The 20 best small cities in the US
  + stars: | 2023-10-04 | by ( Alcynna Lloyd | ) www.businessinsider.com   time to read: +1 min
Personal-finance company Wallethub has identified the best small cities in America. It compared 1,321 cities across five key metrics, including affordability and quality of life. Wallethub has released an annual report that ranks the best small cities in America. The personal-finance company compared 1,321 small US cities — those with population sizes between 25,000 and 100,000 — across five key metrics: affordability, economic health, education and health, quality of life, and safety. These are the 20 best small cities in the US, according to Wallethub.
Persons: Wallethub, Organizations: Service Locations: America, Midwest, Massachusetts, Indiana, Redfin
LOS ANGELES (AP) — In the first few minutes on the phone with The Associated Press, Chappell Roan shared a revealing fact about herself. Born and raised in Missouri, Roan left the state for Hollywood not long after being discovered on YouTube by Atlantic Records. Roan, like Rodrigo, has a knack for candor in theatrical, cheeky pop songwriting — even when the truth is embarrassing — emphasized by her vocal range. ROAN: It's evolving constantly, but more recently it’s been more of a drag project, especially now that I’m (on) tour. I'm really uncomfortable by sex scenes in movies, or when people flirt with me.
Persons: Chappell Roan, , Roan's, , Roan, Olivia Rodrigo's, Dan Nigro, Rodrigo's, Rodrigo, Rose Amstutz, it's, ROAN, I'm, Chappell, , It's, Karen Carpenter, Stevie Nicks, don’t, I’ve Organizations: ANGELES, , Associated Press, Hollywood, YouTube, Atlantic Records, Island Records, Spotify, AP Locations: Missouri, LA, Midwest, Manhattan, “ California, ROAN
WASHINGTON (AP) — President Joe Biden has vetoed Republican-sponsored bills intended to undo federal protections for two endangered species that have seen their populations plummet over the years: the lesser prairie chicken and northern long-eared bat. The two GOP measures would overturn “science-based rulemaking" that offers important protections for the once-abundant species and would undermine the Endangered Species Act, Biden said. Environmentalists have long sought stronger federal protections for the prairie bird, which they consider severely at risk due to oil and gas development, livestock grazing and farming, along with roads and power lines. Veto of the lesser-prairie chicken measure puts the bird "on a more certain path to recovery,” said Michael Parr, president of American Bird Conservancy. The American public, regardless of party affiliation, overwhelmingly supports the Endangered Species Act and believes it should be fully funded to protect species from extinction.
Persons: Joe Biden, Biden, Bruce Westerman of, , , Michael Parr, ” Jamie Rappaport Clark Organizations: WASHINGTON, Republican, GOP, Congress, U.S . Fish, Wildlife Service, National Marine Fisheries Service, Natural Resources, Republicans, Washington , D.C, Council, Fish and Wildlife Service, Environmental, American Bird Conservancy, of Wildlife, American Locations: Midwest, New Mexico, Texas, Colorado , Oklahoma, Kansas, United States, Bruce Westerman of Arkansas, America, East, South America, Washington ,, Canada, U.S
US new home sales tumble in August
  + stars: | 2023-09-26 | by ( ) www.reuters.com   time to read: +3 min
New home sales plunged 8.7% to a seasonally adjusted annual rate of 675,000 units last month, the Commerce Department said on Tuesday. July's sales pace was revised higher to 739,000 units from the previously reported 714,000 units. Economists polled by Reuters had forecast new home sales, which account for a small share of U.S. home sales, falling to a rate of 700,000 units. New home sales are counted at the signing of a contract, making them a leading indicator of the housing market. At August's sales pace it would take 7.8 months to clear the supply of houses on the market, up from 7.0 months in July.
Persons: Octavio Jones, Freddie Mac, Lucia Mutikani, Andrea Ricci Organizations: REUTERS, Rights, U.S, Commerce Department, Reuters, Treasury, Federal Reserve, Data, National Association of Home Builders, Thomson Locations: Tampa , Florida, U.S, Wells Fargo, West, Midwest, Northeast
5 Places to Bask in Spectacular Foliage This Fall
  + stars: | 2023-09-25 | by ( Steven Moity | ) www.nytimes.com   time to read: +1 min
Heat domes, droughts, smoky skies, tropical deluges: After a record-breaking summer of extreme weather events, dare we dream of crisp nights, cozy sweaters and the colors of fall? “This summer really was a chaotic mix of record wettest and record driest, and fall colors will reflect that,” said Austin Rempel, director of forest restoration at American Forests, a nonprofit forestry organization. The Northeast and parts of the northern Rockies and Southern California had extremely wet summers, while the Southwest had one of its driest on record, he said. That stress can make trees lose their leaves earlier, but it can also make the leaf color “really pop,” said Tara L. Bal, a forestry professor at Michigan Tech. When leaves and trees are stressed, she explained, “the bright reds and oranges and yellows actually are stronger.”Just how vivid those leaves are depends on the right combination of cool and dry fall weather starting in mid-September, when colors start to change in the West and Northeast, and through late October, when they are at their prime in the Midwest and the Southeast.
Persons: , Austin Rempel, Tara L Organizations: Forests, Rockies, Michigan Tech Locations: Southern California, Southwest, West, Midwest
The 10 most affordable US cities for renters
  + stars: | 2023-09-25 | by ( Noah Sheidlower | ) www.businessinsider.com   time to read: +3 min
Jefferson City, MO, ranks as the most affordable metro area in the US for renters. Jefferson City, MO, ranked as the most affordable metro area for US renters, according to data from the US Census Bureau. For the top cities, Insider analyzed the share of residents with affordable rent, meaning the percent of residents who pay less than 30% of their income on rent. Around two-thirds of renters in Sheboygan and Appleton had affordable rent, while 63% in Racine had affordable rent. The data supports recent findings that wealthier Americans are moving to Montana and Idaho for more affordable rent.
Persons: Lucie, Louis Organizations: Metro, Service, Census Locations: Jefferson City ,, Ohio , Wisconsin, Wyoming, Wall, Silicon, Missouri , Wisconsin, Jefferson City, Missouri, Lima, Ohio, Wisconsin, Sheboygan, Appleton, Racine, Wyoming , South Dakota , Montana , North Carolina, Washington, Montana and Idaho, Florida, Homosassa Springs, Naples, Port St, Miami, Fort Lauderdale, York, Newark, Jersey City, Midwest, Northeast, Lincoln , Fresno, St, Tampa
CNN —Obesity is becoming more common in a growing number of states, according to new data from the US Centers for Disease Control and Prevention. In 2022, 22 states had at least 35% of adults with obesity, up from 19 states in 2021. Ten years ago, CDC said, no state had an adult obesity prevalence at or above 35%. The data is from the Behavioral Risk Factor Surveillance System, a survey conducted by the CDC and state health departments. Obesity rates were lowest among young adults, with about 1 in 5 people ages 18 to 24 considered to have obesity.
Persons: Dr, Sanjay Gupta, Karen Hacker, Organizations: CNN, US Centers for Disease Control, CDC, Get CNN, CNN Health, CDC’s National, Health Locations: Louisiana , Oklahoma, West Virginia, Midwest, West
Auto jobs are booming in the union-hostile South
  + stars: | 2023-09-20 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +8 min
New York CNN —Looming over the United Auto Workers strike: Automakers’ continued migration to the anti-union South. Jobs at nonunion EV battery facilities pay less than the roughly $32 an hour that veteran UAW workers make. Since 1990, the South’s share of auto jobs has doubled from around 15% to 30% today, according to S&P Global Market Intelligence. Mostly nonunion EV jobs and manufacturing investments are surging in Southern states led by Republicans. The South has picked up 66% of planned EV jobs, while projects in Midwestern states such as Michigan, Indiana, Kansas and Ohio have combined for 26% of planned jobs, according to S&P Global.
Persons: , Ford, nonunion autoworkers, , Stephen Silvia, Southern, Mason, Honda, Deni McIntyre, unionize, “ It’s, Nelson Lichtenstein, Jeffrey Greenberg, Lichtenstein, Bill Lee, Nikki Haley, Houston Cofield, Biden, Biden’s, Shawn Fain Organizations: New, New York CNN, United Auto Workers, General Motors, Volvo, Benz, BMW, Toyota, Hyundai, American University, Southern Gamble, Workers, Foreign, Ford, GM, Dixon, Midwest, UAW, EV, P Global Market Intelligence, Nissan, Mercedes, Volkswagen, Kia, CNN, University of California, Clinton Presidency, Universal, Southern Republican, South . Tennessee Gov, Former South Carolina Gov, Republicans, North Carolina –, Environmental Defense Fund, P Global, Ford Motor Co, SK Innovation Co, Bloomberg, Getty, Big Three Locations: New York, Detroit, Smyrna , Tennessee, Spartanburg , South Carolina, Vance , Alabama, Lincoln , Alabama, Germany, Santa Barbara, Clinton, Korean, United States, Tennessee, Kentucky, Alabama, South, Chattanooga, Southern, – Georgia, South Carolina , Kentucky, North Carolina, Midwest . Georgia, Michigan, Indiana , Kansas, Ohio, Stanton , Tennessee, BlueOval
The decline in housing starts reported by the Commerce Department on Tuesday was the largest in a year and occurred across the board. Housing starts tumbled 11.3% to a seasonally adjusted annual rate of 1.283 million units last month, the lowest level since June 2020. Data for July was revised lower to show starts accelerating to a rate of 1.447 million units instead of the previously reported 1.452 million units. Single-family housing starts, which account for the bulk of homebuilding, dropped 4.3% to a rate of 941,000 units last month. They were boosted by a 14.8% surge in multi-family housing permits to a rate of 535,000 units.
Persons: Mike Blake, homebuilding, Daniel Vielhaber, Hilary, Freddie Mac, Goldman Sachs, Nancy Vanden Houten, Jeffrey Roach, Lucia Mutikani, Chizu Nomiyama, Paul Simao, Andrea Ricci Organizations: REUTERS, Commerce Department, Federal, Nationwide, Reuters, U.S, Treasury, National Association of Home Builders, Oxford Economics, Realtors, LPL Financial, Thomson Locations: Rancho, San Diego , California, U.S, WASHINGTON, Columbus , Ohio, homebuilding, Northeast, Midwest, Wells Fargo, New York, Charlotte , North Carolina
Its startup could add as much as $2 per barrel to prices paid by U.S. Midwest oil refineries that sit along Canada's existing main oil-export route. "They will be competing for barrels that no longer transit through their region," said a Calgary-based oil trader. That has left Canadian oil producers vulnerable to deep price discounts or "blowouts" whenever pipelines become congested or rupture. The start-up of TMX could add a "buck or two" to the cost of a barrel for Midwest refiners, he estimates. So far this year, over 200,000 bpd of Canadian crude has been re-exported from the U.S. Gulf Coast, up from about 73,000 bpd in 2019, Kpler data showed.
Persons: Rory Johnston, Matt Smith, Smith, Stephanie Kelly, Nia Williams, Laura Sanicola, Marguerita Choy Organizations: U.S ., U.S, BP, Citgo Petroleum, Exxon Mobil, Koch Industries, Flint Hills Resources, Canadian, Energy, Administration, TC, Keystone, refiners, Americas, Thomson Locations: CALGARY, Alberta, Coast, U.S, U.S . Midwest, Gulf Coast, Midwest, Flint, Calgary, Canada, Pacific, U.S . West Coast, Asia, Gulf, China, Kpler
The 2022 law, which passed with only Democratic support, aided factory investment in conservative bastions like Tennessee and the swing states of Michigan and Nevada. The law also helped underwrite a spending spree on electric cars and home solar panels in California, Arizona and Florida. The law so far has failed to supercharge a key industry in the transition from fossil fuels that Mr. Biden is trying to accelerate: wind power. Domestic investment in wind production declined over the past year, despite the climate law’s hefty incentives for producers. And so far the law has not changed the trajectory of consumer spending on some energy-saving technologies like highly efficient heat pumps.
Persons: Biden Organizations: Democratic Locations: United States, American, Midwest, Tennessee, Michigan, Nevada, California , Arizona, Florida
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