On 17 July, the U.S. House of Representatives passed the first federal legislation governing stablecoins, legitimizing their broad use in finance and commerce. The 308-to-122 vote was broadly bipartisan.
Author: admin (Kendrick Williams)
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TOP TREND 2023: OFFICE BUILDING BUST
An expected recovery in Europe’s commercial real estate market has failed to materialize, leaving property prices close to their lowest in almost a decade, Reuters reported.
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EU IMPOSES NEW SANCTIONS TO PUNISH RUSSIA AS PEACE EFFORT CRUMBLES
The European Union (EU) announced its most significant sanctions yet against Russia and countries that do business with Moscow in an effort to hurt the country’s economy over its ongoing war with Ukraine.
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JAPAN’S EXPORTS DECLINE FOR A SECOND MONTH IN JUNE
After dropping by 1.7 percent in May, Japan’s exports shrank another 0.5 percent in June, year on year.
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U.S. ECONOMIC BRIEFS
U.S. retail sales rose 0.6 percent in June from May, while inflation ticked up only 0.3 percent over the same period.
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SPOTLIGHT: THE U.S. HOUSING MARKET SLUMP
During the first week of July, mortgage applications to purchase a home or refinance a loan were 10 percent fewer than in the week before as the interest rate on a 30-year, fixed-rate loan rose from 6.77 percent to 6.82 percent, the Mortgage Bankers Association (MBA) reported.
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MOST FORTUNE 100’S NOW MANDATE FULL-TIME OFFICE ATTENDANCE
For the first time since the COVID War began, more than half of Fortune 100 companies have brought their workers back to central offices full-time, according to a study by real estate firm Jones Lang LaSalle (JLL).
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that will profoundly affect the business community this year.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
The U.S. Department of Labor announced this month that “native-born workers” have accounted for all job gains since January amid historic immigration crackdowns.
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PENTAGON AWARDS CONTRACT TO MUSK’S “MECHAHITLER” AI
The U.S. defense department has awarded contracts to AI developers Anthropic, Google, OpenAI, and Elon Musk’s xAI. Each company signed deals worth up to $200 million each.