Mortgage rates have confounded house hunters this year by steadily ticking higher. That trend is likely to continue, according to economists, with some predicting rates will climb back above 7%. “We’re effectively there,” Mark Zandi, chief economist at Moody’s Analytics, told CBS News. “And rates could easily go over.” The average rate for a 30-year…
5m ago Diesel hits an all-time high as U.S. gas prices surge ahead of Labor Day weekend U.S. gas prices surged ahead of Labor Day weekend, with diesel hitting a record of $5.85 a gallon Friday, eclipsing its prior mark of $5.81, set in June 2022. The AAA has predicted that travelers will face…
A trade group representing American automakers is urging Congress to permanently bar the sale of Chinese vehicles in the U.S. In a letter to senior lawmakers, the Alliance for Automotive Innovation on Thursday called on them to “enact a permanent ban on the sale, import and manufacture of Chinese connected vehicles, hardware and software” in…
With the burgeoning El Niño now forecast to intensify significantly in the coming months, the “supersized” climate event will likely have an outsized impact on severe weather around the world, fueling heat, drought and flooding, among other extremes, the United Nations warned Thursday. “El Niño is being supersized before our eyes,” U.N. Secretary-General António Guterres said…
Leon Black, an investor and former close associate of Jeffrey Epstein who was subpoenaed to appear before Congress on Thursday instead filed a lawsuit to contest the subpoenas compelling him to testify and provide documents to the House committee investigating the notorious sex abuser. Black was subpoenaed in June after he abruptly left a voluntary…
Gloria Steinem, a co-founder of Ms. Magazine and a trailblazing figure of the women’s liberation movement in the latter half of the 20th century, has died. She was 92. The Gloria Steinem Foundation said in a social media post Thursday that she “passed away peacefully at her home in New York City, surrounded by some…
Beijing — On the outskirts of the Chinese port city of Ningbo, surrounded by lush green hills topped with giant wind turbines to harness the power of the gales off the East China Sea, is a factory where bosses believe they’re making the cars of the future. It’s where the Geely Auto Group, one of China’s…
Uber is laying off 10% of its global workforce as part of a move to streamline and simplify the ride-sharing company, CEO Dara Khosrowshahi said in an open message to employees published Wednesday on the company’s website. The cuts amount to roughly 3,400 jobs based on Uber’s headcount at the end of last year. The company said…
President Trump has framed last week’s deal for the U.S. government to take a stake in Venezuela’s oil reserves as a boon not just for gas prices, but also for the Strategic Petroleum Reserve, which has dropped to historically low levels. “One of the things I am going to do with the Venezuelan Oil is…
Treasury yields edged higher on Tuesday, extending a global bond sell-off and threatening to raise borrowing costs for millions of Americans. The yield on the 10-year Treasury, which influences mortgage rates, rose to 4.78%, up from 4.75% late Monday and the highest level since January 2025. The yield on the 2-year Treasury, which closely tracks…
