LVMH has suggested luxury spending is suddenly slowing in the US

LVMH has suggested luxury spending is suddenly slowing in the U.S, per CNBC. In the second quarter, LVMH observed a 1% decline in its U.S. sales compared to the same period the previous year. This underwhelming performance in the U.S. market followed a recent announcement from Richemont,

Ukraine has received a $1 billion aid package from the US

Ukraine has received a $1 billion aid package from the US. The impending aid package, which encompasses $175 million allocated for weaponry, brings the total U.S. security support to more than $43.2 billion since the initiation of Russia's extensive invasion of its former Soviet neighbor. According

Americans are defaulting on their credit cards and auto loans at levels not seen since the financial crisis

Americans are defaulting on their credit cards and auto loans at levels not seen since the financial crisis. Increasing numbers of Americans are encountering difficulties in meeting their credit card and auto loan payments, which serves as another indicator of growing financial strain on consumers. According to a report by

The housing market is stuck, per BI: Americans can't afford homes, investors aren't buying property, and economists see little relief ahead

The housing market is stuck, per BI: Americans can't afford homes, investors aren't buying property, and economists see little relief ahead. The average American buyer faces one of the most unaffordable housing markets, where first-time buyers would need to earn as much as $90,000 in

Every single jobs report in 2023 has been revised down

Every single jobs report in 2023 has been revised down, per Peter Tarr. Unemployment rate unexpectedly rose to 3.8% in August as payrolls increased by 187,000 Health care showed the biggest gain by sector, adding 71,000. Other leaders were leisure and hospitality, social assistance, and construction. Average

New York City has begun enforcing a 2022 law that restricts short-term rentals like Airbnb, $ABNB

New York City has begun enforcing a 2022 law that restricts short-term rentals like Airbnb, $ABNB. This action is anticipated to result in the removal of numerous listings from these platforms. It marks the latest and potentially the most significant development in the ongoing dispute between major cities and home-sharing

70% of college seniors with student debt say looming repayments will impact their career plans

70% of college seniors with student debt say looming repayments will impact their career plans, per CNBC. Meanwhile, Federal student loan bills return in October. But a growing chorus of borrowers say they simply can’t, or won't pay, per Bloomberg. In July, U.S. President Joe Biden

Two-thirds of 50 major private builders in China are defaulters

Two-thirds of 50 major private builders in China are defaulters, per Bloomberg. Per Bloomberg: Out of the nation’s top 50 private-sector developers by dollar bond issuance, 34 have already suffered delinquencies on offshore debt, according to Bloomberg-compiled data as of Sept. 1. Chinese junk dollar bonds, dominated by developers,

The average cost of a home in Canada is $754,700 CAD

The average cost of a home in Canada is $754,700 CAD, per DollarWise. Meanwhile, Canada's housing starting constructions are not keeping pace with record immigration, per Bloomberg. Canada's housing supply is failing to keep up with the rapid growth of its population. Multiple sources, including

Senator McConnell’s brain scans found no stroke, seizures after second freeze

Senator McConnell’s brain scans found no stroke, seizures after second freeze, per CNBC. He was cleared by his physician to continue his work. In July, during a weekly Republican leadership news conference, Senate Minority Leader Mitch McConnell experienced a sudden pause in his speech, freezing momentarily before falling silent

United Airlines, $UAL, has issued a nationwide ground stop for all flights due to a computer issue

United Airlines, $UAL, has issued a nationwide ground stop for all flights due to a computer issue, according to the FAA. "We have identified a fix for the technology issue and flights have resumed. We’re working with impacted customers to help them reach their destinations as soon as

Most of OnlyFans' profits has ended up in the owner's, Leonid Radvinsky's, pocket

Most of OnlyFans' profits has ended up in the owner's, Leonid Radvinsky's, pocket, per Bloomberg. In May, The CEO of OnlyFans has described how the platform grew to over 3 million content creators after a huge 40% surge in 2022 alone. Ami Gan, who joined

Poland cuts tax for first-time homebuyers and raises it for those buying multiple properties

Poland cuts tax for first-time homebuyers and raises it for those buying multiple properties The tax relief, which went into force at the end of August, applies to all first-time buyers on the secondary market – meaning properties that are being resold, rather than newly built ones – and not only those

Americans are hitting the casinos at an all time record level

Americans are hitting the casinos at an all time record level. Per BI: "The Nevada Gaming Control Board said the state's casino industry generated a record $1.4 billion in revenue in July, representing a year-over-year increase of about 7%. The return of international travel is also

Florida is the number 1 state bringing in and keeping the young and rich, per SmartAsset

Florida is the number 1 state bringing in and keeping the young and rich, per SmartAsset. Meanwhile, North Carolina ranked number 1 in America's top state for business for 2023, per CNBC. North Carolina also boasts the third best Economy with solid growth, stable state finances and a

62% of adults under age 35 say they drink alcohol, per Gallup

62% of adults under age 35 say they drink alcohol, per Gallup. This is down from 72% two decades ago. Meanwhile, The U.S. Health and Human Services Department has suggested a reclassification of marijuana to a lower-risk drug category, a move that could potentially ease restrictions on the cannabis

US existing home sales fell 17% over the last year, the 23rd consecutive year-over-year decline

US existing home sales fell 17% over the last year, the 23rd consecutive year-over-year decline, per Charlie Bilello. That's the longest down streak since 2007-2009. The median sales price of a home in the US is now 560% of the median household income, per Gangespost. Meanwhile, A recent

Every developer in Montreal, Canada opted to pay a fine instead of building affordable housing, totalling $24.5 million

Every developer in Montreal, Canada opted to pay a fine instead of building affordable housing, totalling $24.5 million. Canadian real estate prices vs income have hit an all time high difference. See more: https://twitter.com/unusual_whales/status/1667955102743957505 Meanwhile, the Bank of Canada shared its findings regarding

Elon Musk has said that video and voice calls are coming to X, with no phone number necessary

Elon Musk has said that video and voice calls are coming to X, with no phone number necessary. The company also updated its privacy policies that will allow for the collection of biometric data and employment history, among other information. Musk posted on the former Twitter that the site'

The Fed may have destroyed the housing market by crushing both supply and demand, Mohamed El-Erian has said

The Fed may have destroyed the housing market by crushing both supply and demand, Mohamed El-Erian has said. Meanwhile, a recent report from the National Association of Realtors and Realtor.com highlights the alarming state of the US housing market, where more than 75% of homes available are beyond the

Around 50% of major global companies will need less real estate in the next three years

Around 50% of major global companies will need less real estate in the next three years, with American cities — led by San Francisco — most exposed to empty offices, per CNN. According to a report by the McKinsey Global Institute, there is a forecast that office property values in nine major

The number of real estate agents in the US is near an all time high

The number of real estate agents in the US is near an all time high. But More than 60,000 have exited the sector over the last six months, according to data from the National Association of Realtors, analyzed by Reventure Consulting. There were about 1.537 million in April,

The SEC is giving itself at least another 45 days to rule on bitcoin ETF proposals by BlackRock, Fidelity, VanEck and Bitwise

The list of bitcoin ETF applications awaiting a ruling from the US Securities and Exchange Commission (SEC) is expanding, as BlackRock, Fidelity, Bitwise, and VanEck faced delays on Thursday. The SEC's inclination for additional time has become a pattern, with these extensions following postponed decisions on analogous proposals

Applications for home purchase mortgages have dropped to their lowest level since April 1995

Mortgage applications in the United States have taken a sharp plunge, reaching their lowest point in 28 years, primarily due to a surge in mortgage rates. The latest data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 18, 2023, reveals a significant

Nordstrom has closed the doors of its five-story department store in San Francisco, ending a 35-year run.

Nordstrom bid farewell to its longstanding five-story department store in San Francisco, marking the end of a 35-year era. The closure comes amidst a broader retail exodus that has gripped the city, reflecting shifting dynamics in the urban retail landscape. The closure of the 312,000-square-foot Nordstrom was announced in