Amazon has signed more than a dozen leases in the Los Angeles area as part of its plan to open a chain of grocery stores, the Wall Street Journal reported Tuesday. The first few stores, which could open as early as the end of the year, will likely be located in Woodland Hills and Studio […] Read more
The Republican National Committee paid over $160,000 to a law firm that is defending former Trump campaign manager Corey Lewandowski. The payment was made a month before his testimony in front of the House Judiciary Committee. The RNC paid $166,390 to the office of Mintz Levin for “legal and compliance services,” according to the committee’s […] Read more
After rising the previous week, interest rates fell back again last week, but consumers were not enthused. Overall mortgage application volume fell 1.9% for the week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was still 34% higher than a year earlier, thanks to a stronger refinance market this year. The average contract […] Read more
China could learn a lesson for its possible digital currency issuance from the Hong Kong monetary system that allows “commercial entities” to issue banknotes backed by their own private currency assets, former central bank governor Zhou Xiaochuan said. Zhou, who served as the governor of the People’s Bank of China (PBOC) for over 15 years […] Read more
According to global real estate consultant JLL, although the US-China trade war has cast a shadow over Hong Kong’s economy, the industrial property market continues to be a bright spot. Driven by expansion requirements from logistics companies, demand for industrial property remained largely intact in May with several large transactions being recorded. In the leasing […] Read more
The net profit margin outlook for mortgage lenders moved into positive territory in the second quarter for the first time in three years, according to Fannie Mae’s quarterly Mortgage Lender Sentiment Survey. Mortgage rates are now down dramatically from the highs of November. The average rate on the 30-year fixed for conforming loan balances was […] Read more
U.S. consumer prices increased in April, which could allow the Federal Reserve to keep interest rates unchanged for a while. Personal income rose 0.5% in the month after ticking up 0.1% in March. Savings increased to $990.3 billion in April from $963.7 billion in March. Personal consumption expenditures (PCE) index increased 0.3% last month after […] Read more
J.P. Morgan Chase CEO Jamie Dimon said that the escalating U.S.-China trade dispute is a “real issue” that could damage corporate confidence. “I think trade is a real issue,” Dimon said Tuesday in a conference in New York. “Trade has gone from being a skirmish to being far more important than that. If this goes […] Read more
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California Gov. Gavin Newsom, in his revised state budget, proposes a record $213.5 billion spending plan for the next fiscal year — that’s a 2% increase over his January budget. But the Democratic governor cautions about an inevitable recession and estimates the next downturn could result in a $70 billion hit to California’s coffers. Newsom’s […] Read more
