The U.S. housing market has shifted to favor buyers as there are now significantly more sellers than buyers, making it a "buyer's market" according to Redfin. Despite more homes available for sale, high prices and interest rates limit the benefits for many potential buyers.
Key Facts
The gap between sellers and buyers in the U.S. housing market reached 44 percent in January, the largest since 2013.
Redfin considers a market with over 10 percent more sellers than buyers as a "buyer's market."
The U.S. has been a buyer's market since May 2024, but high costs continue to affect affordability.
The median sale price of a U.S. home was $423,261 in January, up 1.1 percent from the previous year.
The national average for a 30-year fixed mortgage rate is 6.1 percent, considered historically high.
Home sales in January were down 9.03 percent from a year earlier, with homes taking longer to sell.
The number of homebuyers fell to 1.36 million in January, the lowest on record.
Some sellers are removing their homes from the market or choosing not to list them to avoid lowering prices.
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FedEx is taking legal action against the U.S. government to get back money it spent on tariffs imposed by President Donald Trump. These tariffs were recently declared illegal by the Supreme Court.
Key Facts
FedEx is suing the U.S. government for a refund on tariffs it paid.
The tariffs were introduced by President Donald Trump last year.
The Supreme Court has ruled that these tariffs are illegal.
FedEx claims it has suffered financial harm due to the tariffs.
The company filed the lawsuit with the U.S. Court of International Trade.
FedEx is seeking relief from the court to recover financial losses.
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Dunkin' is testing a new 48-ounce "coffee bucket" in certain stores in Massachusetts and New Hampshire. The bucket is meant for cold drinks and is twice the size of Dunkin's largest nationwide drink size.
Key Facts
Dunkin' is testing a 48-ounce coffee bucket, which is shaped like a plastic bucket with a handle, lid, and extra-long straw.
The coffee bucket is available for iced coffees, iced lattes, and refreshers.
The starting price for the coffee buckets is $8.89.
Stores in Massachusetts and New Hampshire are currently part of the test.
Dunkin' has not announced if or when the buckets will be available in more locations.
The largest existing Dunkin' drink size is 24 ounces, making the new bucket double that size.
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Circle K filed a legal request to determine who owns a $12.8-million lottery ticket, after a store manager bought leftover tickets that were initially unpaid by a customer. The situation arose when a customer did not pay for all ordered tickets, and one of the unpaid ones later won the jackpot. The court will decide the rightful owner of the winning ticket, which could affect how lottery retailers handle similar situations.
Key Facts
Circle K filed a lawsuit over a $12.8-million winning lottery ticket that was initially unpaid.
A customer ordered 85 tickets from a Circle K store but only paid for 60.
The store set aside the unpaid 25 tickets, one of which later won the jackpot.
Store manager Robert Gawlitza purchased the unsold tickets, including the winner, for $10 after the draw.
Circle K took the ticket and filed a lawsuit to clarify ownership.
The case could impact how retailers deal with unsold lottery tickets across the country.
Under Arizona rules, unsold tickets are usually considered to belong to the retailer if not resold.
The court will decide who is legally entitled to the lottery prize.
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The Trump Organization plans to build the tallest building in Australia, called Trump International Hotel & Tower, on the Gold Coast. The new development, a luxury hotel and residential tower, will be about 1,099 feet tall, surpassing the current tallest building in Australia. The project does not yet have a specified construction start or completion date.
Key Facts
The Trump Organization announced plans to build a new tower on Queensland’s Gold Coast, Australia.
The building will be about 1,099 feet tall, making it the tallest in Australia.
It will include 91 floors, a luxury hotel, residential apartments, and commercial spaces.
An exclusive beach club is part of the development plans.
The tower is being developed with the Australian company Altus Property Group.
There is currently no timeline for when construction will start or finish.
The current tallest building in Australia is the Q1 Tower, at 1,058 feet.
President Trump’s name will be on the luxury hotel within the tower.
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Millions of Americans may get payments from a settlement involving Blue Cross Blue Shield, a health insurance company. This settlement comes from claims that the company violated antitrust laws by not competing in certain areas. People who had insurance with them between 2008 and 2020 could be eligible for payouts.
Key Facts
The settlement involves $2.67 billion to resolve antitrust claims against Blue Cross Blue Shield.
6 million claims have been filed related to this case.
The case alleged that the company limited competition by dividing markets among themselves.
Blue Cross Blue Shield denies any wrongdoing but agreed to the settlement in 2020.
The settlement class includes people with insurance from February 2008 to October 2020.
Eligible claims had to be filed by November 5, 2021, to receive payment.
The actual payout fund is about $1.9 billion after fees and costs are deducted.
The amount of money each claimant receives depends on various factors, such as premiums paid.
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Colorado plans to allow the purchase of lottery tickets online and with credit cards by 2027. State lawmakers are pushing back against this change, hoping to keep ticket sales limited to cash transactions at physical locations. A bill aiming to block these changes will be discussed in a committee hearing on March 3.
Key Facts
Colorado Lottery Commission approved online and credit card sales of lottery tickets to start by 2027.
The goal is to modernize the lottery system and increase funding for projects like parks and wildlife.
Governor Jared Polis supports the rule change for modernization.
Some lawmakers want a legislative review or public vote before the changes are applied.
Senate Bill 117 (SB26‑117) was introduced to block these changes.
Lawmakers are concerned about potential increases in gambling addiction and consumer debt.
A committee will review the bill on March 3 for further discussion.
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President Donald Trump's new global tariff of 10% is now in effect after a Supreme Court decision blocked his earlier tariff plans. The tariff is part of an effort to adjust trade relationships and address international payment issues. President Trump has considered increasing the tariff to 15% but has not yet made an official decision.
Key Facts
President Trump signed an executive order to impose a new global tariff of 10% starting on February 24.
The Supreme Court had previously blocked broader tariff measures, prompting this new tariff through an executive order.
The tariff is authorized under Section 122 of the 1974 Trade Act, allowing a temporary tariff for 150 days without needing Congress's approval.
The tariff aims to reduce the U.S. trade deficit by adjusting trade relationships.
The U.S. trade deficit increased to about $1.2 trillion, a 2.1% rise from 2024 levels.
Since using the 1977 International Emergency Economic Powers Act, the U.S. has collected at least $130 billion in tariffs.
President Trump criticized the Supreme Court's ruling as "ridiculous" and "anti-American."
Countries like the UK, EU, and India are reconsidering trade deals and responses in light of the U.S. tariff changes.
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Wellness-focused travel is changing the approach of luxury hotels and resorts. Instead of being an optional extra, wellness treatments and activities are now integrated into the main offerings of these accommodations. The Dylan Amsterdam showcases these trends by providing a tranquil and personalized guest experience centered on wellness.
Key Facts
Luxury hotels are incorporating wellness activities directly into their main services for guests.
Max Dijkema of The Dylan Amsterdam states that travelers want balance, flexibility, and privacy in their stays.
Nearly 22 million travelers visited Amsterdam in 2024, with 9.4 million from other countries.
The Dylan Amsterdam offers a boutique setting with only 41 rooms to provide tranquility and personal attention.
Dining menus at The Dylan include balanced options with seasonal, high-quality ingredients.
The hotel integrates a wellness focus in its services, offering personal touches like private massages and curated dining experiences.
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President Donald Trump introduced new tariffs on most imports, while the Supreme Court blocked some previous tariffs. The court ruled that the president's powers under the International Emergency Economic Powers Act do not allow him to impose tariffs, which means some duties are illegal. It's unclear if importers will get refunds on these tariffs.
Key Facts
President Trump introduced a 10% tariff on most imports.
The Supreme Court ruled against some of Trump's earlier tariffs, saying they were not authorized by law.
U.S. Customs and Border Protection will stop collecting the tariffs deemed unlawful by the court.
The court did not decide if importers will get refunds on the tariffs ruled unlawful.
Consumers will not receive refunds since they do not pay tariffs directly; importers do.
Importers may need to file requests to get refunds or challenge tariff collections in court.
Businesses will have to navigate complex procedures to seek tariff refunds.
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The mansion featured in "The Fresh Prince of Bel-Air" is on sale for $29.5 million in Los Angeles, California. The sales approach embraces the property's fame from the TV show, which aired in the 1990s. The home includes six bedrooms, eight bathrooms, and is recognized as a piece of television history.
Key Facts
The "Fresh Prince of Bel-Air" mansion is listed for $29.5 million.
It is located in Los Angeles, California.
The home includes six bedrooms and eight bathrooms.
The property covers about 10,000 square feet and sits on a 38,510-square-foot lot.
Built in 1937, the house is known for its connection to the famous TV show.
The sales strategy highlights its pop culture significance, including staging a yellow taxi reminiscent of the show's intro.
The mansion's architecture retains vintage elements that are unusual today.
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The number of people on zero-hours contracts in the UK has reached a record 1.23 million. The UK Labour Party plans to introduce new rules to limit these types of contracts, ensuring that workers receive guaranteed hours. The government is working on legislation to provide job security and reasonable notice for work schedules.
Key Facts
Zero-hours contracts allow employers to hire workers without a guaranteed number of work hours.
The number of people on such contracts rose by 91,000 compared to the previous year.
Young workers aged 16 to 24 are a big part of the increase in zero-hours contracts.
The UK Labour Party plans to ban exploitative zero-hours contracts as part of its policy framework.
A new law is expected next year to give workers the right to guaranteed hours and notice for work schedules.
Women make up 54% of the workforce on zero-hours contracts in the UK.
Critics say these contracts cause unpredictable work hours and income, while supporters claim they provide flexibility.
The Department for Business and Trade aims to improve job security and productivity by addressing zero-hours contracts.
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The average 30-year fixed mortgage rate recently dropped to 5.99%, marking the lowest level in over two years. This decrease in mortgage rates follows a decline in the 10-year Treasury yield and offers some buying power back to homebuyers, although high home prices still pose challenges.
Key Facts
The average 30-year fixed mortgage rate is now 5.99%, the lowest since September 2022.
The rate drop follows a decrease in the 10-year Treasury yield.
Factors like a softer-than-expected Consumer Price Index and optimistic jobs report contributed to the Treasury yield decline.
Current mortgage rates increase homebuyer purchasing power by $8,000 since the start of the year.
A buyer with a $3,000 monthly budget can afford a $479,750 home at the current rate.
Homebuyers' monthly payments have decreased compared to when rates were higher.
Buyers still face high home prices and need an estimated $111,000 annual income to afford a typical home.
Despite the rate drop, the housing market remains challenging due to high prices and limited inventory.
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FedEx is suing the U.S. government to get back money it paid in tariffs. The Supreme Court recently ruled that President Trump did not have the authority to impose these tariffs, meaning only Congress can do that during peacetime. FedEx and other companies are now looking for refunds, but there is no clear process in place yet.
Key Facts
FedEx filed a lawsuit against the U.S. government for tariff refunds after a Supreme Court ruling.
The Supreme Court said President Trump overstepped his power by imposing tariffs using the International Emergency Powers Act (IEEPA).
FedEx wants a full refund of the tariffs, which it claims caused the company financial harm.
The tariffs affected goods, including small packages valued under $800.
Experts say it might take a long time to sort out the refund process.
President Trump plans to introduce a new 15 percent “global tariff.”
The U.S. collected an estimated $142 billion to $175 billion in tariffs under IEEPA.
The Supreme Court ruling did not specify how and when refunds should be given.
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The Trump Organization, led by President Donald Trump, plans to build Australia's tallest building, a 335-meter skyscraper, on the Gold Coast. The project, featuring luxury hotel rooms and apartments, is set to begin construction in August and will compete with another proposed tall building in the same area. The Trump Organization has faced scrutiny regarding potential conflicts of interest due to Trump's role as president.
Key Facts
The Trump Organization announced plans for a skyscraper on the Gold Coast, Australia.
The building will be 335 meters tall, taller than the Shard in London.
The project will include 285 hotel rooms and 272 luxury apartments.
Construction is set to begin in August and will cost over $1 billion.
Competing projects in the area include a twin-tower plan expected to reach 50 meters taller.
The Trump Organization has faced allegations of potential conflicts of interest due to President Trump's involvement.
The company has done projects worldwide, and its brand is used in over 20 locations.
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FedEx has filed a lawsuit to get back money it paid in extra import taxes due to tariffs introduced by President Trump. The U.S. Supreme Court ruled that the law used to impose these tariffs did not permit the president to impose such taxes. As a result, companies like FedEx are seeking refunds for the duties they have paid.
Key Facts
FedEx is suing for a refund of import duties paid under President Trump's tariffs.
President Trump imposed higher tariffs under the International Emergency Economic Powers Act (IEEPA).
The U.S. Supreme Court ruled that this law does not allow the president to impose these tariffs.
FedEx's lawsuit seeks a refund from U.S. Customs and Border Protection (CBP) and its commissioner.
The company did not specify the refund amount it seeks.
FedEx filed the lawsuit with the U.S. Court of International Trade.
The tariffs have reportedly brought in an additional $130 billion.
President Trump and Treasury Secretary Scott Bessent said resolving the refund issue might take years in court.
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Some UK shops are putting chocolate in anti-theft boxes due to increasing thefts. Retailers and police note that chocolate is frequently targeted and stolen to order. This issue is part of a larger trend in shoplifting and retail crime.
Key Facts
Some UK stores are locking up chocolate bars in plastic boxes to prevent theft.
Retailers report that chocolate is now often stolen to order and sold by criminals.
Videos from police show instances of chocolate theft.
The British Retail Consortium reports 5.5 million shoplifting incidents last year.
Chocolate theft cost one retail group £250,000 last year.
Retailers are increasing security measures, including CCTV cameras and anti-theft boxes.
Theft not only impacts business finances but also adversely affects staff through related abuse and intimidation.
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Reform plans to change pension schemes for new local government workers in the UK by stopping the more generous defined benefit pensions and creating a British Sovereign Wealth Fund worth £500 billion. The plan aims to boost investment in UK companies and infrastructure, but it has been criticized for potentially harming workers' rights and worsening staff recruitment in public services.
Key Facts
Reform wants to stop defined benefit pension schemes for new local government employees.
These changes will create a £500 billion British Sovereign Wealth Fund.
The fund aims to invest an extra £100 billion in UK businesses and infrastructure.
There are currently nearly 100 separate local government pension schemes in the UK.
Reform plans to merge these into larger funds.
Critics, including unions, say this move could harm workers and make it harder to hire public service staff.
Reform proposes switching new workers to defined contribution schemes, where pensions aren't guaranteed.
Reform has also suggested scrapping some new employment and environmental rules.
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President Donald Trump has increased tariff threats after a Supreme Court decision ruled his previous global tariffs were unlawful. He announced new temporary tariffs on countries that he believes are taking advantage of the U.S. The uncertainty surrounding these tariffs is affecting U.S. markets and stalling international trade deals.
Key Facts
President Trump is imposing new temporary tariffs following a Supreme Court decision against his previous tariffs.
Trump stated on social media that he doesn't need Congress's approval for these tariffs, citing existing laws.
The new tariffs can reach up to 15% under a section of the 1974 Trade Act, lasting for 150 days unless Congress extends them.
A poll indicates that 64% of Americans disapprove of Trump's handling of tariffs.
The announcement led to market instability, with major stock indices like the Nasdaq, S&P 500, and Dow Jones falling.
European Parliament postponed a trade deal vote with the U.S., partly due to concerns over the new tariffs and past tensions.
Gold prices rose due to increased economic uncertainty fueled by the tariff announcements.
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United Airlines has changed its MileagePlus loyalty program. These updates make it easier to earn miles with a United credit or debit card. The changes also provide better access to certain ticket discounts.
Key Facts
United Airlines changed its MileagePlus program to include more benefits for cardholders.
Starting April 2, MileagePlus cardholders earn up to twice as many miles per dollar on United flights compared to non-cardholders.
Cardholders now have better access to Saver Award fares in United Polaris Business Class.
United's chief commercial officer said these changes allow members to earn miles faster and use them more efficiently.
The changes have faced criticism for favoring credit card spending over frequent flights.
United Airlines also updated its app to improve the customer experience with features like real-time boarding updates.
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