New home sales plummet 17% to 2-year low amid high mortgage rates
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New home sales plummet 17% to 2-year low amid high mortgage rates

ByNews Polite

Sales of new US single-family homes dropped to the lowest level in nearly two years in October, likely as a rise in mortgage rates drove buyers to the sidelines and hurricanes disrupted activity. New home sales plunged 17.3% to a seasonally adjusted annual rate of 610,000 units last month, the lowest level since December 2022,…

Donald Trump to tap Scott Bessent for Treasury secretary, ending fierce battle for key job: sources
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Donald Trump to tap Scott Bessent for Treasury secretary, ending fierce battle for key job: sources

ByNews Polite

President-elect Donald Trump will name hedge fund mogul Scott Bessent as the next treasury secretary, four sources tell The Post, ending a rough-and-tumble race that saw fierce jockeying among power players across Wall Street. Bessent “got the thumbs up” late Thursday during a meeting with Trump at his Mar-a-Lago resort…

Ground beef recalled over possible E. coli contamination
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Ground beef recalled over possible E. coli contamination

ByNews Polite

More than 167,000 pounds of ground beef shipped to restaurants nationwide are being recalled by a Michigan meatpacking company over concerns of possible E. coli contamination, federal officials said Wednesday. At least 15 cases of the bacteria have been reported in Minnesota this month that link back to Wolverine Packing…

Clonazepam being recalled for ‘possibly life-threatening’ error
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Clonazepam being recalled for ‘possibly life-threatening’ error

ByNews Polite

A popular prescription anxiety drug is being recalled nationwide for a “possibly life-threatening” mistake on the carton. The Pennsylvania-based drug maker Endo announced this week that it is expanding its recall of clonazepam tablets because some cartons bear the incorrect drug strength and wrong drug code. Clonazepam is a benzodiazepine…

Spirit Airlines files for bankruptcy as financial losses pile up and debt payments loom
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Spirit Airlines files for bankruptcy as financial losses pile up and debt payments loom

ByNews Polite

Spirit Airlines said Monday that it has filed for bankruptcy protection and will attempt to reboot as it struggles to recover from the pandemic-caused swoon in travel and a failed attempt to sell the airline to JetBlue. Spirit, the biggest US budget airline, has lost more than $2.5 billion since…

Developer gives first look at planned skyscraper near Grand Central Terminal — but lacks key piece to make it a reality
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Developer gives first look at planned skyscraper near Grand Central Terminal — but lacks key piece to make it a reality

ByNews Polite

It’s build-or-bolt time for BXP on Madison Avenue. The developer is itching to build a skyscraper at 343 Madison between East 44th and 45th streets, which is currently a block-long, empty lot owned by the MTA. But it needs an anchor tenant before the striking, 46-story, 950,000 square-foot tower —…

US single-family homes need over hundred thousand dollars a year
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US single-family homes need over hundred thousand dollars a year

ByNews Polite

Americans need to earn nearly $108,000 a year to afford a single-family home in most cities now, according to a new economics report. Oxford Economics revealed this week that a household in 2024 needs an average annual income of $107,700 to afford a new single-family home, including property taxes and…

Takata files bankruptcy in light of explosive airbags recall
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Takata files bankruptcy in light of explosive airbags recall

ByNews Polite

Takata filed for bankruptcy amid “the largest and most complex safety recall in U.S. history,” according to the National Highway Traffic Safety Administration (NHTSA). Not only did the recall cost the Japanese automotive parts company billions of dollars, but the duration of this recall added to its complexity. The recall…