Homebuilder confidence plummets to the lowest level in more than two years as ‘demand stalls’

Rising mortgage rates and continued home price growth are hurting affordability and fast becoming a toxic cocktail for the nation’s homebuilders. Sentiment among homebuilders dropped 8 points in November to 60 in the National Association of Home Builders/Wells Fargo Housing Market Index. That is the lowest reading since August 2016, but anything above 50 is …

Founder’s Big Idea to Revive BuzzFeed’s Fortunes? A Merger With Rivals

BuzzFeed has long positioned itself as the future of publishing — it practices the mysterious arts of digital media better than anyone. From the beginning, its ability to know, before anyone else, what sort of content would go viral delivered it a large audience and helped the company attract half a billion dollars in venture …

Goldman Sachs believes the US economy will slow to a crawl next year

Goldman Sachs believes the U.S. economy will slow significantly in the second half of next year as the Federal Reserve continues to raise interest rates and the effects of the tax cut fade. “Growth is likely to slow significantly next year, from a recent pace of 3.5 percent-plus to roughly our 1.75 percent estimate of …

The Guardian view on poverty in Britain: not just shocking but shameful | Editorial

Truth alone is not enough. It has been only too easy for campaigners and experts to amass abundant evidence of the damage wrought by austerity. The government has changed only its rhetoric. Put aside what the prime minister and chancellor say, and look at last month’s budget. Most government departments face drops in their real-terms …

Shares hit on claim Nissan Renault chairman Carlos Ghosn faces arrest

Nissan is on the verge of sacking its chairman Carlos Ghosn after he was arrested amid a series of allegations including that he under-reported his income “over many years”. The Japanese carmaker, which owns the UK’s largest car factory, in Sunderland, said its board would vote to remove him at a meeting scheduled for Thursday. …

Nissan Plans to Oust Carlos Ghosn as Chairman Over Financial Misconduct

TOKYO — Nissan recommended the immediate removal of its chairman, Carlos Ghosn, on Monday, saying an internal investigation found that he had underreported his compensation to the financial authorities for several years. The company said in a statement that it was cooperating with Japanese prosecutors. It also said that it had opened its inquiry after …

Better Local Journalism, by Local Reporters, Is the Goal of a New Database

In recent years, as local news organizations have been decimated by layoffs and industry consolidation, communities across the country have complained that journalists who come into their towns and cities too often produce shallow or misrepresentative reporting. Local journalists who know their hometowns could report the same stories more accurately and with more depth, they …

Jo Johnson backs bid to force Treasury to reveal no-Brexit forecasts

Jo Johnson, the Conservative MP who resigned as a minister to back a second Brexit referendum, will on Monday throw his weight behind a bid to force the government to publish economic forecasts that compare its deal with remaining in the European Union. The Orpington MP is expected to make his first speech from the …

Full stream ahead! Russia & Turkey officially complete construction of joint gas pipeline

Russian President Vladimir Putin and his Turkish counterpart Recep Tayyip Erdogan will participate in an official ceremony on Monday marking the completion of the offshore section of the Turkish Stream natural gas pipeline. The offshore section of the pipeline, which is 930km (578 miles) and runs along the bottom of the Black Sea, is designed …

Moscow makes top 10 list of the world’s best cities

The Russian capital has been recognized as the world’s sixth-best metropolis in a ranking of 100 big cities, compiled by a North American consulting company Resonance. The study rated cities in accordance with the six key “pillars of place equity,” such as infrastructure, economy, education and online rankings, including data from social networking services TripAdvisor …

Gov’t confirms Mislatel as third telco

The National Telecommunications Commission (NTC) has opened the bid documents for the third telco company on formal bidding programs at the NTC headquarters. November 07, 2018. Mislatel is the sole bidder to submit complete selection documents. Jonathan Cellona, ABS-CBN News MANILA — The National Telecommunications Commission on Monday confirmed as the new major telecommunications player, …

UberEats, Deliveroo under scrutiny as Foodora worker wins landmark case

“It’s a landmark decision that will fundamentally reshape work in the gig economy and will reshape the rights of workers in that economy,” he said. “Companies like Uber Eats and Deliveroo should be very worried by this decision.” Senator Watt said the impact of the decision had far-reaching implications. “It’s a great decision for Foodora …

Ni hao! Philippines dials China for trade, infra, telco

China’s President Xi Jinping arrives at APEC Haus, during the APEC Summit in Port Moresby, Papua New Guinea Nov. 18, 2018. Xi is expected in Manila on Nov. 20 to 21. David Gray/Reuters MANILA – Chinese President Xi Jinping arrives in the Philippines this week with Beijing’s footprint in trade, infrastructure, tourism and telecommunications, a …

NETS payment now available for Singapore shoppers in Malaysia

SINGAPORE: The next time you are headed for Malaysia, be sure to bring your NETS ATM card with you. There are now 4,500 NETS acceptance points across Malaysia, according to a spokesperson for NETS in response to queries from Channel NewsAsia on Monday (Nov 19). Advertisement In Johor Bahru, NETS-enabled cards issued by Singapore banks can be used at popular shopping …

China’s ‘One Belt, One Road’ global investment plan mapped out

This year marks the fifth anniversary of the Belt and Road initiative, proposed by Chinese authorities in the autumn of 2013. The ambitious project is aimed at creating infrastructure networks linking Europe, Asia and Africa. So far, the challenging project has attracted around 100 countries across three continents. The new infrastructure project links Asia, Europe, …

George Soros places £20m bet against Aston Martin

Billionaire financier George Soros has placed a £20m bet that the share price of Aston Martin will struggle to recover following its atrocious stock market debut.  Mr Soros, the legendary Hungarian-American investor who “broke the Bank of England”, has shorted the James Bond carmaker’s shares after they shed a quarter of their value.  Short-sellers have …

Bloomberg donates ‘unprecedented’ US$1.8B to Johns Hopkins

BALTIMORE — Former New York City Mayor Michael Bloomberg announced Sunday he’s donating US$1.8 billion to his alma mater, Johns Hopkins University, to boost financial aid for low- and middle-income students. The Baltimore university said the contribution — the largest ever to any education institution in the U.S. — will allow Johns Hopkins to eliminate …

Netflix and Amazon spark animation revival, spending heavily in quest for binge-worthy shows

Streaming companies, led by Netflix and Amazon, are rapidly increasing their spending on animation content, according to estimates from venture capital firm Loup Ventures. This year, Netflix is expected to spend $1.1 billion, 11% of its overall original content budget, on animation. Amazon is projected to spend $300 million this year, representing 10% of its …

Marijuana is getting cheaper. For some states, that’s a problem.

Wholesale marijuana prices in Colorado have fallen by a third in just the past 12 months, continuing a price crash that began soon after the drug was legalized. Although this implies that some marijuana entrepreneurs are going to go bankrupt, the bigger financial hit will be felt by states that tax marijuana based on its …