A “For Sale” sign stands at a house in Miami, Florida, U.S. April 16, 2025. Marco Bello | ReutersHigher interest rates, as well as concern over where the broader economy is headed, is causing mortgage demand to drop sharply. Last week, total mortgage application volume fell 12.7% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $806,500 or less, increased to 6.90% from 6.81%, with points rising to 0.66 from 0.62, including the origination fee, for loans with a 20% down payment. That…
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A Boeing 737 aircraft fuselage is pictured at the company’s Renton factory in Renton, Washington, on April 15, 2025. Jason Redmond | AFP | Getty ImagesBoeing is set to report results before the market opens on Wednesday, when Wall Street expects to see some improvements despite a trade war and other supply chain problems.Boeing CEO Kelly Ortberg, who was hired last year and tasked with getting the manufacturer past a series of safety and manufacturing crises, will likely outline progress, including production rates of its best-selling 737 Max, but investors will be focused on his outlook for the year.Executives will…
Apple iPhone 16s lined upAn advertising watchdog said Tuesday that Apple went too far with marketing that touted the availability of Apple Intelligence features that weren’t released when the ads were broadcast.The National Advertising Division, a non-profit focused on “truth in advertising,” said that following an inquiry from the organization about Siri improvements, Apple told it that it would permanently discontinue a TV ad called “More Personal Siri” that focused on a big AI improvement to Siri. That ad premiered in September and promoted the iPhone 16 with unreleased features. In March, Apple said it would delay the release of those…
After Tesla’s first-quarter earnings miss, Wall Street analysts are wondering what’s next for the electric vehicle giant. Tesla earned an adjusted 27 cents per share on $19.34 billion in the first quarter, while analysts polled by LSEG forecasted 39 cents earned and $21.11 billion in revenue. The company said it would “revisit” its guidance in the second quarter update. The report comes as Tesla faces protests across the world following CEO Elon Musk’s foray into conservative politics. Musk began his Tesla’s earnings call on Tuesday afternoon by saying he would cut down his time spent on U.S. President Donald Trump’s…
Since launching the quadplex earlier this month, listing agent Nikki Field with Sotheby’s said interest has been encouraging: “Several highly qualified individuals have already inquired and toured the residence. There’s real momentum.”Rendering provided by Sotheby’s International RealtyAs the Dow Jones Industrial Average plunged and tariff headlines rippled through global markets, a different number was turning heads in Manhattan: A newly listed $110 million penthouse, now the most expensive home for sale in New York City.The listing debuted April 3 during one of Wall Street’s most turbulent weeks on record. That day, the Dow fell 1,679 points, shedding 4%. The day…
Facebook and Instagram icons are seen displayed on an iPhone.Jakub Porzycki | Nurphoto | Getty ImagesThe European Union on Wednesday fined Apple and Meta hundreds of millions of euros each for breaching the bloc’s digital competition laws.The European Commission, which is the executive body of the EU, said it was fining Apple 500 million euros ($571 million) and Meta 200 million euros ($228.4 million) for breaches of the Digital Markets Act (DMA).This is a breaking news story. Please check back for updates. Source link
The Apple Fifth Avenue store in New York, U.S., on Monday, Feb. 24, 2025.Michael Nagle | Bloomberg | Getty ImagesEven as a pause on reciprocal tariffs has been put into effect, consumers are already anticipating the pressures of higher prices.A majority of Americans — 85% — have concerns about the tariffs, according to a new NerdWallet survey of more than 2,000 individuals conducted this month.Among top concerns of consumers is that the new policies will impact their ability to afford necessities and that the U.S. economy will fall into a recession.Meanwhile, cracks in consumer confidence are showing elsewhere.The University of…
The BP logo is displayed outside a petrol station that also offers electric vehicle recharging, on Feb. 27, 2025, in Somerset, England.Anna Barclay | Getty Images News | Getty ImagesBP shares jumped on Wednesday after activist investor Elliott went public with a stake of more than 5% in the struggling British oil major, which has pivoted back to oil in a bid to restore investor confidence.BP shares were last seen up 4.75% at 9:44 a.m. London time. The London-listed stock price is down around 5% year-to-date.Hedge fund Elliott Management has built its holding in the British oil major to 5.006%,…
New data shows that American consumers are prepared to remain loyal to the iPhone even as Apple’s future remains uncertain due to President Donald Trump’s tariffs. The news In a Tuesday research note, Morgan Stanley said the results of its March U.S. iPhone survey of 3,300 people were “surprisingly positive” despite the escalating trade feud between the United States and China. Among the key takeaways, analysts saw all-time high iPhone upgrade intention rates and stronger-than-expected adoption of Apple Intelligence, the company’s generative artificial intelligence system. This is particularly good news because Apple Intelligence was not ready when the iPhone 16…
The headquarters of SAP AG, Germany’s largest software company, on Jan. 8, 2013, in Walldorf, Germany.Thomas Lohnes | Getty Images News | Getty ImagesSAP on Wednesday posted a 58% year-on-year jump in first-quarter operating profit in constant currency, also confirming its outlook for full-year cloud revenues.SAP’s operating profit hit 2.5 billion euros ($2.9 billion) in the first quarter, compared with analysts expectations near 2.2 billion euros, according to LSEG data.Shares of the company popped 8.8% by 8:43 a.m. in London on Wednesday.The German software giant, which last month overtook Novo Nordisk to become Europe’s most valuable public company, said revenue…
