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Mortgage rates tick up

BOTTOM LINE: Assuming a borrower gets the average 30-year conforming fixed rate on a $417,000 loan, last year's rate of 3.94 percent and payment of $1,976 was $115 more than this week's payment of $1,861. Long-term USA mortgage rates edged higher this week, marking a fourth straight week of increases though rates remain at historically low levels. This week the 15-year FRM increased to 2.76%, up from last week's 2.74% and from last year's 3.17%.

Business

Weekly Comic: Glut of crude sends oil back below the $40-level

WTI crude futures for September delivery rose 36 cents to $39.87 a barrel, at 11:06 a.m., a 0.9 percent gain. Market intelligence firm Genscape reported stockpiles at the Cushing, Oklahoma delivery hub for USA crude futures fell 89,071 barrels during the week to August 2, traders who saw the data said, after government data showed a 1.1 million-barrel drop to the week to July 29 .

Business

Yelp Inc Surges, The Walt Disney Co Falls On Earnings

Morgan Stanley restated a "hold" rating on shares of The Walt Disney in a research note on Sunday, July 17th. He also upgraded the stock rating to Outperform while raising his price target from $95 to $110 following the investment news. In the year-ago quarter, the company reported earnings of $1.45 per share on $13.1 billion in revenue. Media networks - its largest of four segments accounting for 45% of the revenue and 54% of the operating profit through the first nine months of this fiscal ...

Business

Ichiro joins 3000 hit club

His streak of 10 consecutive 200-hit seasons is the most by any player in Major League Baseball history. "I don't have words for how wonderful that is for them to show that and support me", said Suzuki, who collected at least 200 hits in each of his first 10 seasons with the Mariners.

Business

Sen. Burr 'surprised' by Trump's Second Amendment remark

Retired General Michael Hayden, who headed the NSA under Presidents George W. Bush and Barack Obama, denounced the remark on CNN, saying it was unsafe no matter the intent. Instead, DeHart said she and her colleagues are focused on U.S. Sen. Powerful outside groups, the report notes, have already shifted funds and staff away from the presidential race and toward House and Senate races and one source told Time that the RNC might have to consider doing that still.

Business

Cartoon Network, Adult Swim and more coming to Hulu's new livestreaming service

Time Warner separately reported net income for the second quarter of United States dollars 952 million on revenues of USD 6.95 billion. The move could boost the viability of an online television service that Hulu is expected to launch next year as an alternative to cable TV.

Business

Wall Street jumps to record highs on oil, consumers

Separately, the International Energy Agency said growth in worldwide oil demand is expected to contract from 1.4 million barrels per day in 2016 to 1.2 million in 2017. J.C. Penney rose 76 cents, or 8.3 percent, to $9.91. Not all companies had favorable quarterly results. The company also said it will return more cash to shareholders by taking on new debt to buy back stock.

Business

Clinton, Kaines to release tax returns amid Trump's refusal

Clinton has hit Republican nominee Donald Trump for not releasing his returns. She said that according to independent analysis "under my plans, we'll create about 10.4 million new jobs". A source close to the Democratic presidential nominee says she will release them in "the coming days". "There's a myth out there that he'll stick it to the rich and powerful because, somehow, he's really on the side of the little guy", Clinton said, speaking on the floor of Futuramic Tool & Engineering, a ...

Business

Macy's to close 100 stores nationwide, but locations not released

However, Manning said he wouldn't be surprised if the local Macy's closed its doors, just like the local Best Buy and Sears did earlier this year. But Macy's CFO Karen Hoguet still believes there's one major advantage its retail stores have over its e-commerce competitors: physical space.

Business

Rio 2016: First the water turned green, now it's burning athletes' eyes

Tests carried out showed no health risks to athletes however, and officials say the water should change back to blue today or tomorrow once the chemical balance have been restored. As competition began Wednesday, the water polo pool, which is located directly next to the diving pool, was turning a light shade of green. So he immediately spotted that the water quality in the pool where Tom Daley won bronze with Dan Goodfellow in the 10m synchro wasn't right and diagnosed the cause - algae.

Business

GST Bill passed in Rajya Sabha: Who said what

The Bill, which was passed by a consensus vote in the Rajya Sabha on Wednesday, would be again taken up by the Lok Sabha for passage on Monday to incorporate the amendments made to it in the Upper House. Absence of multiple taxation and emergence of a uniform market through implementation of the GST Bill will have its positive impact across the sectors, said he.

Business

Oil prices bounce on USA gasoline stock draw, dollar's decline

The New York futures contract for September delivery settled at $39.51 U.S. a barrel, down 55 cents from close on August 1. Still, the retreat is driven by a seasonal slowdown in USA fuel demand and prices will rebound above US$50 a barrel by year-end as American shale production drops, according to Bank of America Merrill Lynch.

Business

USA election: Hillary Clinton blasts Donald Trump for 'casual inciting of violence'

Suppose the phrase Second Amendment people had been replaced with any other special-interest group. One common thread to many of Trump's more controversial moments is how many people hear or see something that he denies having said or done.

Business

Macy's is closing 100 stores, but doesn't say which ones

It wasn't immediately clear how many jobs might be cut as Macy's has not finalized the list of locations that will close, said spokeswoman Andrea Schwartz. "We are now in the process of analyzing the situation of each store so we can make these important decisions as intelligently as possible", said Andrea Schwartz in an email to USA TODAY NETWORK-Wisconsin on Thursday morning.

Business

Shah Rukh Khan detained at Los Angeles airport

Last time, the 50-year-old was detained for two hours at the NY airport. "The brighter side is while waiting caught some really nice Pokemons", he tweeted. One has to see it in a larger context, it's a sign of the times. Shahrukh Khan reach Los Angeles from Dubai on an Emirates flight. "I even told them I had an invitation from the South Asian community and was there to attend an event".

Business

Stock In Limelight: Coca-Cola Enterprises, Inc. (NYSE:CCE)

Consolidated had its "neutral" rating reiterated by analysts at Citigroup. Enstar, a Bermuda-based holding company focussed on acquiring re/insurance companies in run-off, experienced substantial growth in the second quarter of 2016, largely attributed to acquisitions and reinsurance transactions it has made in the past year.

Business

Trump Admits He Never Saw Video of US Payment to Iran

US Republican presidential candidate Donald Trump has backtracked on an earlier claim that he had seen "top secret" video footage that showed the US giving $ 400 million in cash to Iran. "And I asked one of the police that was with us, that, why are you not letting us to go to the plane?" Now Mr Trump has backtracked on his claim by posting a message on twitter .

Business

Nickelodeon reviving 'Rocko's Modern Life' for TV special

It's easy to forget how vast Nickelodeon's catalog is, and how much they dominated in years past when it came to unique and lovable characters. Murray will return as executive producer and co-director of the TV movie. Do you remember that impossible to play Rocko's Modern Life video game for SNES? Like Hey Arnold!: The Jungle Movie, this will also be revived as a made for TV movie and it looks like they'll be making films for a lot of other classic cartoons according to a report from ...

Business

Huffington Post founder steps down as editor-in-chief

But rumors swirled about her role after the site was again sold to Verizon past year for $4.4 billion. Arianna Huffington is stepping down as editor-in-chief of the Huffington Post and turning her attention to her startup, Thrive Global , after attracting investors and hiring staff.

Business

Arianna Huffington to leave Huffington Post for startup Thrive

Huffington said on Twitter that she thought the Huffington Post , which made its debut in 2005, would be "my last act" but now wanted to concentrate on the new venture. It is unclear how the Yahoo, AOL and Huffington Post brands will be integrated once the sale is complete. AOL's takeover of the Huffington Post had its rocky moments, in part because of tensions between AOL Chief Executive Tim Armstrong and Huffington over issues such as allocation of resources, Reuters has reported.

Business

Adilson da Silva to tee off first at Rio 2016 Olympic golf

International Olympic Committee president Jacques Rogge told the Associated Press at the time, adding that he was "absolutely" certain the best golfers would compete, just as stars in other pro sports do. "All of a sudden, golf is just back in". But for those who did make the trip to Rio, who embraced the Games and all of the experiences that come with being an Olympic athlete, however quirky that may sometimes be, that choice has already been validated.

Business

Had talks with govt over 2nd term: Rajan

Some of the (recent) attacks were ad hominem, that is imputing sort of motives and alleging things completely without any basis; those I just put aside. "These are perfectly legitimate speeches". He said, "It is important to convince the public of reasons behind policy moves and we need institutional reforms which can build a platform for strong and sustainable growth".

Business

As Irom Sharmila ends fast, Amnesty wants AFSPA to go

The Iron Lady of Manipur , as she has been known, now wants to contest elections as an independent candidate. AFSPA is usually applied to militancy-affected regions and gives Indian armed forces sweeping powers of search and seizure without warrants, allowing them to shoot to kill in some situations.

Business

Clinton slams Trump's plans, claims billionaire will only help the rich

Trump said Clinton has failed on the economy for years, pointing to her unfulfilled Senate promise to upstate NY to create 200,000 jobs . The Democratic nominee positioned herself as the child of a small-business owner who printed designs on draperies and struggled to provide a better life for his family.

Business

Russia is holding its own Olympics for its banned athletes

Speaking to CNN for the first time since their evidence came to light in 2014, Vitaly Stepanov, a former employee at the Russian anti-doping agency RUSADA, and his wife, 800 meter runner Yulia Stepanova, said the International Olympic Committee missed a crucial opportunity to dismantle Russia's doping culture.

Business

Aditya Birla Nuvo to merge into Grasim

Under the swap ratio, each shareholder of Aditya Birla Nuvo will get 3 new shares of Grasim for every 10 shares of Nuvo that they hold. The first step involves merging AB Nuvo with Grasim following which the financial services business of AB Nuvo will come into Aditya Birla Financial Services (ABFSL).

Business

Hillary Clinton trebles lead over Donald Trump in Wisconsin, says report

The poll, which was conducted between August 5-8, came after Trump's comments about the Muslim American parents of a slain US soldier. More Democrats say they will vote for Clinton than Republicans for Trump as well: 87 percent of Democrats plan to vote for Clinton, with only about 75 percent of Republicans for Trump.

Business

Boring Bill Miller Amicably Ends 35-Year Run At Legg Mason

Bill Miller , the Legg Mason (LM) manager whose now-$2.4 billion Value Trust (LMVTX) beat the S&P 500 for 15 straight years from 1991 through 2005, is leaving the Baltimore-based money manager after 35 years. ClearBridge is part of the former asset management division of Citigroup Inc., which Legg Mason acquired in 2005. As Miller's luster dimmed, Legg Mason began diversifying through a series of acquisitions under Joseph Sullivan, now the firm's chief executive officer.

Business

Clinton: Trump hasn't offered any 'credible' economic solutions

Hillary Clinton is set to go after Donald Trump's economic agenda - aiming to portray her rival's approach as offering handouts for the rich. Trump's advisers are considering tweaks to his proposal aimed at ensuring that the 15 percent rate "is for legitimate businesses, " said Stephen Moore, an economist who is advising Trump on tax policy.

Business

Clinton to release 2015 tax returns soon

That will only kill more jobs . She concurred that some trade pacts had resulted in lost U.S. jobs . Clinton's grandfather was a factory worker and her father was a small businessmen, she said. Clinton maintained that she would appoint a chief trade prosecutor and triple the number of enforcement officers. Speaking to a crowd at a rally at Futuramic Tool & Engineering in Warren, Mich., Clinton advocated for raising the minimum wage.

Business

Markets Right Now: Stocks trading higher on Wall Street

Consumer-focused stocks were moving higher, while health care, banks and energy companies lagged the most. THE QUOTE: "There are just not a lot of people around, and the moves are pretty small in the scheme of things", said David Lefkowitz, senior equity strategist at UBS Wealth Management Americas.

Business

Global stocks wobble before expected United Kingdom rate cut

The BoE slashed interest rates to a record low 0.25 per cent, cutting borrowing costs for the first time in more than seven years, and hinted at more easing to come. Facebook rose 1.85 dollars (£1.41), or 1.5%, to 124.36 dollars (£94.89), and Broadcom gained 2.88 dollars (£2.19), or 1.8%, to 166.99 dollars (£127.42).

Business

Macy's will close stores

Macy's Inc. on Thursday posted second quarter results that topped analysts' expectations. The company's stock was up 16.1 percent on the news of the closures to $39.47 a share in early morning trading. Officials did not say which locations would be affected. Macy's has been under pressure from investors to sell some of its valuable real estate. Macy's , under pressure from activist investor Starboard Value LP, is working on partnerships to monetize its huge real estate portfolio, ...

Business

Markets Right Now: Stocks trading lower on Wall Street

Nordtsrom gained $3.75, or 8.5 percent, to $47.98, while Gap added 98 cents, or 4.1 percent, to $25.01. Eastern time. The Standard & Poor's 500 index shed four points, or 0.2 percent, to 2,177. Investors are awaiting a raft of other results from retailers , before the earnings season comes to an end. The so-called kiwi dollar jumped by more than 1 percent after the announcement before easing a little to trade at $0.73.

Business

Macy's plans to close 100 stores nationally, locations not announced yet

Macy's now has 728 stores, 675 of which are full-line stores. The stores Macy's will close will be announced at a later date, but could include many that act as mall anchors. The retail chain now has 728 stores. However, the results beat Wall Street estimates, and shares rose $4.95, or more than 14 percent, to $38.95, in early trading.


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