In November, builders began work on new homes at a clip that translates to an annual rate of 1.6 million housing units and filed permits to construct 1.5 million more, news service Quartz reported.
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FACTORY CONSTRUCTION IS BOOMING BUT WILL FACTORY PRODUCTION FOLLOW?
The Biden administration’s Inflation Reduction Act and U.S. Chips and Science Act have dedicated funding to high-tech and clean energy investments. As a result, factories are being built in selected areas of the country at a pace not seen in decades.
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THE RENT IS STILL TOO DAMN HIGH
Twenty-four percent of U.S. adults who rent their homes say they can no longer comfortably afford to pay their rent, according to a survey of 1,249 individuals by Intuit Credit Karma.
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LAYOFFS VIRTUALLY DOUBLED IN 2023
Last year, U.S. companies planned or carried out layoffs targeting 721,677 jobs, 98 percent more than in 2022 and the most since 2020, outplacement service Challenger, Gray & Christmas (CGC) said in a report released last week.
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M&A ACTIVITY BOUNCING BACK
In 2023, mergers and acquisitions (M&As) slowed by 18 percent, year on year, to $3 trillion worth, a pace not seen since 2013, thanks to inflation, rising interest rates, and fears of a recession, data service Dealogic reported.
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U.S. VENTURE CAPITAL FUND-RAISING PLUMMETED 60 PERCENT IN 2023
Venture capitalists’ (VCs’) attempts to raise funds to invest in new and young companies brought in only $67 billion last year, the least since 2017 and 60 percent less than in 2022, which was a peak year, according to the National Venture Capital Association.
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ISRAEL KILLS SENIOR ADVISER IN IRAN’S REVOLUTIONARY GUARD OUTSIDE DAMASCUS
A top Iranian military official was killed in an Israeli Christmas strike in Syria, prompting Tehran to say the “savage Zionist regime will pay for this crime.”
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TOP TREND 2024 EV GO FU: 2023 EV SALES WERE A DEBACLE
Millions worth of subsidies—with some of that money drawn from government medicare programs—couldn’t prevent EV sales from getting stuck in a ditch in 2023.
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FIREFIGHTERS STRUGGLING TO COPE WITH HARD-TO-EXTINGUISH LITHIUM-ION BATTERY FIRES
On the last day of 2023, firefighters were finalizing a plan to extinguish a lithium-ion battery fire aboard the Genius Star XI, a 13,000-ton cargo ship en route from Vietnam to San Diego.
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DEATH OF JOURNALISM: LOCAL NEWS BLOODBATH CONTINUES AS MORE PUBLISHERS CLOSE UP SHOP
A newly released Northwestern University study found that 2023 was another tough year for journalism jobs, especially in local newspapers that closed at a rate of 2.5 a week.