Business

15

Aug

By Courtney

Investing

Stock market today: Wall Street roars closer to its records as US shoppers help drive the economy

NEW YORK (AP) — Wall Street is rallying closer to its records on Thursday following signals the U.S. economy is holding up better than expected, with particular credit going to the country’s shoppers. The S&P 500 was up 1.3% in midday trading and on track for a sixth straight gain as the U.S. stock market rights itself following a scary few weeks. It’s back to within 2.5% of its all-time high set last month after earlier falling nearly 10% below it. The Dow Jones Industrial Average was up 444 points, or 1.1%, as of 11:30 a.m. Eastern time, and the…

Read More

13

Aug

By Dorothy Brand

Business

Home Depot trims guidance with anxiety about the broader economy up among contractors and homeowners

Home Depot’s second-quarter sales rose slightly as the nation’s biggest home improvement retailer benefitted from an $18 billion acquisition this spring, but customers continued to rein in spending because of broadly higher costs and elevated interest rates. Sales edged up to $43.18 billion, from $42.92 billion, beating the $42.57 billion that Wall Street had expected, according to a poll by Zacks Investment Research. The quarterly performance was an improvement thanks in part to the acquisition of contract supplier SRS Distribution, which contributed $1.3 billion to Home Depot’s sales for the quarter. SRS provides materials for professionals like roofers, landscapers, and…

Read More

08

Aug

By Dorothy Brand

Business

Carles Puigdemont, ex-Catalan leader, returns to Spain after nearly 7 years as a fugitive

BARCELONA, Spain (AP) — Former Catalonia leader Carles Puigdemont, who fled Spain after organizing an independence referendum in the wealthy Spanish region nearly seven years ago that was declared illegal, returned to the country on Thursday despite a pending arrest warrant. Puigdemont defiantly appeared in Barcelona after traveling from Belgium and made a speech in front of a large crowd of supporters. He faces charges of embezzlement for his part in the attempt to break Catalonia away from the rest of Spain in 2017. Puigdemont appeared in a central Barcelona park where several thousand separatist supporters who had gathered in…

Read More

07

Aug

By Dorothy Brand

Business

FCC establishes new rules for broadband deployment on utility poles

Federal Communications Commission rules that went into effect in late July are intended to speed the process of attaching broadband cable to utility poles, addressing a hurdle in the push to deliver high-speed internet to rural communities. The rules, which an FCC committee adopted in December, also are meant to make that aspect of the broadband deployment process more transparent and cost-effective, according to a commission document. The FCC authorized a Rapid Broadband Assessment Team, which will work to resolve pole attachment disputes among internet providers and large utility companies such as Appalachian Power and Dominion Energy. The rules will provide…

Read More

05

Aug

By Dorothy Brand

Investing

Japan’s Nikkei 225 index plunges 12.4% as world markets tremble over risks to the US economy

BANGKOK (AP) — Japan’s benchmark Nikkei 225 stock index plunged 12.4% on Monday, resuming sell-offs that are shaking world markets as investors fret over the state of the U.S. economy. The Nikkei closed down 4,451.28 points at 31,458.42. The market’s broader TOPIX index fell 12.8% as selling picked up in the afternoon. European markets opened lower, with Germany’s DAX down 2.5% at 17,222.69. The CAC 40 in Paris lost 2.4% to 7,080.96 and the FTSE 100 in London was 2% lower at 8,011.52. Darkening the outlook for trading on Wall Street, early Monday the future for the S&P 500 was…

Read More

30

Jul

By Dorothy Brand

Business

Badcock Furniture closing all its retail locations

Badcock Furniture & More, a South Carolina-based retailer, announced this week it was closing all 300-plus locations in eight states including the store in Bristol Virginia. Badcock stores are expected to remain open for liquidation sales, according to parent firm Conn’s, which filed Chapter 11 bankruptcy last week in Texas. The Badcock business was originally established 120 years ago in 1904. The company is currently promoting “Going out of business” sales with discounts of 30% to 50%, on its website. Seven months ago, the Badcock chain was acquired by Conn’s HomePlus. More than 70 of Conn’s 170 stores will also…

Read More

26

Jul

By Dorothy Brand

Business

Virginia awards $17 million for broadband to localities in Southwest and Southside

Residents in some of Virginia’s most sparsely populated and most difficult topography are a step closer to getting high-speed broadband. Virginia is granting $41.6 million to multiple localities that applied for funds to deliver internet access, Gov. Glenn Youngkin’s office announced this week. Localities in Southwest and Southside Virginia will receive about $17 million. “Broadband is as critical today as electricity was in the last century, and the Youngkin Administration is committed to ensuring that no communities are at risk of being left behind,” said Bryan Horn, chief broadband advisor and Virginia Department of Housing and Community Development director. “Once…

Read More

24

Jul

By Dorothy Brand

Investing

Stock market today: Asian stocks fall after a torrent of profit reports leaves Wall Street mixed

Asian stocks fell on Wednesday as markets digested Japanese and Australian business data, after U.S. stocks held relatively steady as earnings reporting season ramped up for big companies. U.S. futures fell while oil prices were higher. Japan’s benchmark Nikkei 225 slipped 1.1% to 39,154.85, with the Japanese yen trading at its highest level in months ahead of a Bank of Japan policy decision next week. The U.S. dollar was trading over 162 yen earlier this month but the Japanese currency has strengthened in recent days after officials intervened to staunch the yen’s decline. Expectations that the BOJ may raise its…

Read More

23

Jul

By Dorothy Brand

Real Estate

US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices

LOS ANGELES (AP) — The nation’s housing slump deepened in June as sales of previously occupied homes slowed to their slowest pace since December, hampered by elevated mortgage rates and record-high prices. Sales of previously occupied U.S. homes fell 5.4% last month from May to a seasonally adjusted annual rate of 3.89 million, the fourth consecutive month of declines, the National Association of Realtors said Tuesday. Existing home sales were also down 5.4% compared with June of last year. The latest sales came in below the 3.99 million annual pace economists were expecting, according to FactSet. Despite the pullback in…

Read More

02

Jul

By Courtney

Real Estate

7.5± Ac. of Commercial Real Estate w/I-95 Fntg in Fredericksburg VA Set for Auction Announces Nicholls Auction Marketing

FREDERICKSBURG, VIRGINIA, UNITED STATES, July 2, 2024 /EINPresswire.com/ -- Nicholls Auction Marketing Group, Inc., (www.nichollsauction.com) announces the online auction of 7.5± acres of valuable commercial property with Interstate I-95 road frontage -- a rarely offered commercial real estate opportunity in Fredericksburg, VA’s highly sort after Southpoint Development on Wednesday, July 31 according to John Nicholls, president of the company. “Highlights of the 7.5± acres of commercial real estate include a 28,000± sq. ft. building (currently utilized as a cinema), 224 parking spaces and 900'± of Interstate I-95 road frontage centrally located in Fredericksburg, VA between the DMV Metro and Richmond,…

Read More