The average rate on a 30-year mortgage in the U.S. slipped to its lowest level in two years, boosting home shoppers’ purchasing power as they navigate a housing market with prices near all-time highs. The rate dipped to 6.08% from to 6.09% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate … Read more
MILWAUKEE — Junior Bridgeman played for the Milwaukee Bucks long enough to retire as the team leader in games played and performed well enough that his jersey hangs from the Fiserv Forum rafters. Now the basketball player-turned-entrepreneur has purchased a stake in the team. The Bucks announced Bridgeman’s purchase in a news conference that included … Read more
Attorneys for former President Donald Trump want a New York State appeals court to throw out the $454 million verdict that was handed down after a judge found him liable for business fraud. Trump’s lawyers will appear in a Manhattan court on Thursday for an appellate hearing seeking to overturn the civil fraud judgment of … Read more
Disney is reportedly eliminating 300 corporate jobs this week — the latest round in a broad cost-cutting initiative by Chief Executive Bob Iger. The job cuts — which began Wednesday and will continue Thursday and possibly Friday, according to a Deadline report — affect positions in the US and impact the Mouse House’s corporate operations, … Read more
Southwest Airlines raised its third-quarter revenue forecast, authorized $2.5 billion in share buybacks and announced a slew of changes to its business as it continues to face pressure from activist hedge fund Elliott Investment Management. The company says its business plan will rake in an additional $4 billion in earnings before interest and taxes by … Read more
China is redoubling its first-aid for its economy, targeting banks, workers and poor families as the ruling Communist Party prepares to mark the 75th anniversary of the founding of the People’s Republic. Unconfirmed reports Thursday by the South China Morning Post and Bloomberg said the government plans to spend about 1 trillion yuan ($142 billion) … Read more
LONDON — The managing director of Harrods said Thursday that the London department store is “deeply sorry” for failing employees who say they were sexually assaulted by late owner Mohamed Al Fayed. Michael Ward said it is clear Al Fayed “presided over a toxic culture of secrecy, intimidation, fear of repercussion and sexual misconduct.” Five … Read more
Bobbi Brown has launched not one but two groundbreaking cosmetics companies and written nine bestselling books on beauty, but she’s not a fan of traditional makeup. “I don’t like makeup that looks like makeup. When you’re done, I just want you to look better. I want you to look not tired. I want you to … Read more
Dozens of Salt Life retail stores across the country are closing following the company’s recent purchase. Hilco Consumer-Retail Group, one of the new owners of the brand, announced Tuesday that it will be closing all 28 retail locations. Liquidation is underway as new ownership plans to restructure the fashion company and lay out a plan for the future of … Read more
SEOUL, South Korea — South Korea announced plans Thursday to compensate famers and others in the country’s dwindling dog meat industry before a formal ban goes effect in 2027, a move that is drawing opposition from both farmers and animal rights activists. South Korea’s parliament passed a landmark bill in January that will ban slaughtering, … Read more