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Foreigners Are Buying Fewer US Homes
"Sharply lower housing inventory in the US and higher borrowing costs across the world have dented international buyers for two straight years," NAR Chief Economist Lawrence Yun said in the report. Overall, US existing-home sales totaled 5.03 million in 2022, down 17.8% from 2021, NAR said.
Credit Card Industry Gears Up for Battle Against CFPB's Proposed Late Fee Cut
Credit card companies are bracing for a confrontation with the Consumer Financial Protection Bureau (CFPB) over the agency's proposal to slash credit card late fees from the existing range of $31 to $40 to a flat rate of $8.
Dimon Weighs In On Fitch Downgrade
Dimon emphasized that the credit of the US is "sound" and "should be the highest-rated credit in the world." It is "ridiculous" that countries such as Canada have higher credit ratings, he added. "This is the most prosperous nation on the planet. It's still the most prosperous nation on the planet."
Spotify, A Compelling Moat At An Attractive Price
Spotify is the global leader in music and podcast streaming. With 551 million monthly users and 220 million paid subscribers, Spotify has a large and growing market share lead. Monthly Active Users surged 27% to 551 million last quarter. Net additions of 36 million were 21 million ahead of guidance and represent an all-time high for the company.