The National Association of Realtors said Friday it will make changes to its commission rules to settle national claims that the requirements stifle competition, a move that could reduce costs for consumers.The settlement, which still needs court approval, could represent a major change in the housing market. Today, sellers typically pay a 5% to 6% commission when selling their home, half of which goes to the listing agent and half to the buyer's agent. Under the current broker rule, listing agents must offer compensation to buyer agents in order to list homes on the Multiple Listing Services, or MLS. This…
Author: ricardofrancois
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Older investors are investing more of their savings in growth and technology investments, challenging conventional wisdom that people over 65 should avoid riskier assets. According to data from investment platform Hargreaves Lansdown, funds such as Fundsmith Equity, Lindsell Train Global Equity and Rathbone Global Opportunities – actively managed, growth-focused funds – feature in the top 10 funds for Isas to buy for over-65s in the 2023-24 tax year. . , ranked first, second and seventh.These funds did not feature at all in…
Stay informed with free updatesSimply sign up for the myFT Digest of US interest rates – delivered straight to your inbox.Investors agreed with the Federal Reserve's expectations that it would cut interest rates only three times this year, after a months-long standoff between markets and the central bank.After a string of economic data suggesting U.S. inflation is stubbornly high, traders on Friday were pricing in just three quarter-point interest rate cuts by the end of the year, according to data compiled by LSEG. Before the unexpected spike in US inflation on Tuesday, investors were expecting cuts of a full percentage…
Stay informed with free updatesSimply subscribe to myFT Digest US Stocks – delivered straight to your inbox.Investors pumped a record amount into US equity funds last week, snapping up technology stocks and ignoring concerns about persistent inflation.U.S. equity funds attracted $56 billion in funds in the week ending March 13 – more than the previous peak of $53 billion set in March 2021, Barclays said on Friday, citing data from fund tracker EPFR Global. .The totals included a record $22 billion in technology funds, which have led much of Wall Street's rise so far in 2024. The S&P 500 has…
The family of a producer killed while covering the Russian invasion of Ukraine has filed a lawsuit against Fox News, saying the network's negligence led to her death.The wrongful death lawsuit filed by Sasha Kuvshinova's parents in a New York court on Thursday alleged that Fox News ignored warnings from local officials and security experts not to travel to the dangerous area near Kiev where another journalist was killed the day before.Shortly after the conflict began, Kuvshinova, 24, was hired as a local travel coordinator with Fox News correspondent Ben Hall and photojournalist Pierre Zakrowski. On March 14, 2022, a…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, selects her favorite stories in this weekly newsletter.The US arm of accounting firm Grant Thornton has agreed to sell a majority stake to investment group New Mountain Capital, in the biggest wave of private equity deals reshaping the sector.The deal, which will be New Mountain's second investment in a U.S. accounting firm, was announced to Grant Thornton's nearly 10,000 employees on Friday, according to people familiar with the matter.It comes weeks after smaller rival Baker Tilly agreed to a $1 billion cash infusion from private equity group Hellman &…
Good morning. It's Friday, March 15th. I'm Rachel Uranga and I'm reporting from the passenger seat of a self-driving car. Here's what you need to start your day: the news Start your day right Sign up for Essential California to get news, features and recommendations from the LA Times and beyond in your inbox six days a week. Enter your email address Involve me You may occasionally receive promotional content from the Los Angeles Times. From the passenger seat I saw a taxi that could be embarrassing and devoid of manners Robotaxis doesn't listen to drivers in the back seat.…
Stay informed with free updatesSimply subscribe to our UK myFT Digest – delivered straight to your inbox.Evidence that a recovery is underway in the UK housing market has been reinforced by data suggesting that the number of agreed sales jumped in the first two months of the year. The number of “contract sales” – those agreed between buyer and seller but not yet completed – rose in February by 23 per cent compared to the same month last year. Agreed sales were 9 per cent higher than in February 2019, the last year in which the housing market was not…
India's antitrust watchdog has ordered an investigation into Google subsidiary Alphabet, alleging that the US tech giant abused its dominant position in the country's internet market by imposing unfair terms and discriminatory practices in its popular app store. The Competition Commission of India said in an order on Friday that Google appears to have violated several provisions of the country's antitrust law and has asked its investigation arm to complete the investigation within 60 days. The order came in response to a complaint filed by several Indian app developers and industry groups, many of whom have also publicly raised concerns…
Check out the companies making the biggest moves in pre-market trading: Rivian Automotive – The electric vehicle stock rose nearly 4% after an upgrade by Piper Sandler to overweight. The company also raised its price target to $21 from $15, suggesting an upside of 96% from Thursday's close. Analyst Alexander Potter cited Rivian's new product launch and decision to delay capital spending on the call. Micron Technology – Semiconductor stock added 2.5%. On Friday, Citi picked Micron as one of its top picks and increased its price target to $150 from $95, suggesting an upside of 64%. The bank believes…