The average rate on the popular 30-year fixed mortgage crossed over 7% on April 1, according to Mortgage News Daily, and it just kept going. It now sits right around 7.5%, the highest level since mid-November…
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Business
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Tesla said Wednesday it will ask shareholders to reinstate CEO Elon Musk’s $56 billion pay package, which a Delaware judge voided earlier this year after ruling that the record-setting compensation deal was “deeply flawed.” Tesla also said it…
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Business
FAA lifts temporary groundstop of Alaska Airlines flights after technical issue is resolved
The Federal Aviation Administration lifted a ground stop for all Alaska Airlines flights Wednesday after grounding the planes earlier as a result of a computer problem at the carrier. The Seattle-based airline said in a…
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Companies often see their stock price jump after announcing job cuts, as Wall Street rallies around the prospects for improved efficiency and profits. But that’s not how investors treated the latest news out of Tesla. Shares…
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Business
How In-N-Out Burger’s president runs her fast-food empire: Keep it simple, affordable and close
In-N-Out isn’t your typical burger joint, and it insists expanding its footprint won’t change that. For nearly eight decades, the West Coast restaurant chain has remained a private, family-owned company that has cultivated fiercely loyal…
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Stocks sold off Friday as inflation and geopolitical worries once again dented investor sentiment on Wall Street. A broad decline in major bank shares also weighed on the market. The Dow Jones Industrial Average slid 475.84 points,…
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Federal Reserve Chair Jerome Powell said Tuesday that the U.S. economy, while otherwise strong, has not seen inflation come back to the central bank’s goal, pointing to the further unlikelihood that interest rate cuts are in the…
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Tesla will lay off more than 10% of its global workforce, according to a memo sent to employees by CEO Elon Musk. The company’s shares were down 3% on Monday morning. “As we prepare the company for…
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Apple’s smartphone shipments dropped about 10% in the first quarter of 2024, hurt by intensifying competition by Android smartphone makers aiming for the top spot, data from research firm IDC showed on Sunday. Global smartphone shipments…
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Consumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans’ outlook largely unchanged this year. The University of Michigan’s consumer sentiment index, released Friday in a preliminary version, slipped…