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[ad_1] Workers at Atlanta Apple store file to hold first U.S. union election [ad_2] Source link

[ad_1] Delhi Violence News, Jahangirpuri Demolition Drive: The Supreme Court on Thursday extended the status quo on the NDMC’s demolition drive in Delhi’s Jahangirpuri area by two weeks. It said that it “will take a serious view of the demolitions carried out after information was given to Mayor”. The court also issued notices to NDMC and others on plea filed by Jamiat Ulama-i-Hind. It had stalled the NDMC’s demolition drive on Wednesday just hours after it started after taking note of a plea of Jamiat Ulama-i-Hind that buildings of Muslim riots accused are being razed.  A bench headed by Chief Justice N V Ramana, which ordered maintaining of status quo concerning the demolition of buildings in the forenoon, intervened again during the day after it was apprised that the authorities were not stopping on the ground that no official communication has been received by them. [ad_2] Source link

[ad_1] This is a great deal on these EVA Shoes! Zulily has these Kid’s EVA Shoes for as low as $8.99 today! Choose from clogs, slides, sandals, and more. Great for summer shopping! Shipping starts at $6.99. But if you place one order today, the rest of your orders will ship for FREE through 11:59 p.m. PT tonight! [ad_2] Source link

[ad_1] Asia shares fall on China slowdown fears, but lower yields limit losses [ad_2] Source link

[ad_1] Nearly three months after buying Netflix stocks worth $1.1 billion, Bill Ackman has sold his stake in the online streaming service with a loss of more than $430 million. Bill Ackman had purchased around 3.1 million shares of Netflix for his Pershing Square Capital fund in January, making the fund a top-20 shareholder in the company. Netflix’s share price has tanked drastically in the last few days after the company reported its first-ever loss of subscribers in a decade. The streaming company’s market value has tanked by $60 billion in 2 days (equivalent of SBI’s entire market capitalisation in Indian rupees) as the stock plummeted by more than 35%. No Netflix and Chill for Ackman “Today, we sold our investment in Netflix, which we purchased earlier this year,” Bill Ackman wrote in a letter to investors yesterday. He added that the loss on their investment in Netflix reduced the Pershing Square Funds’ year-to-date returns by four percentage points. Bill Ackman had purchased Netflix shares when the stock fell during the last few days of January and was trading around $359 per share. At the time of his investment in stock, Ackman had said that he greatly admired Netflix both as a consumer and as an investor. “Many of our best investments have emerged when other investors whose time horizons are short term, discard great companies at prices that look extraordinarily attractive when one has a long-term horizon,” Bill Ackman had written in a letter to investors while acquiring Netflix shares. He had further praised Netflix’s highly recurring revenues, pricing power, and improving free cash flow among other things. Pershing Square Capital manages roughly around $21 billion in funds.  Announcing his departure from Netflix Bill Ackman said, “While Netflix’s business is fundamentally simple to understand, in light of recent events, we have lost confidence in our ability to predict the company’s future prospects with a sufficient degree of certainty. Netflix has announced a would modify its subscription-only model to be more aggressive in going after non-paying customers, and to incorporate advertising. JP Morgan downgrades Netflix Further, to augment the pain of Netflix stock, JP Morgan analysts downgraded the stock from overweight to neutral. “Following a sea change quarter for Netflix in which the company essentially conceded to every key point of the bear thesis, we’re downgrading our recommendation to Neutral & lowering our price target to $300,” analysts wrote in a note. JP Morgan earlier had a December 2022 target of $605 on Netflix. JP Morgan added that there’s not much to get excited about over the next few months.  Netflix has been bearing the brunt of account sharing among users, limiting its monetisation power. Although the company is attempting to monetise account sharing JP Morgan has not built that into its model. “We’re moving to the sidelines as we look for greater confidence in restoring subscriber growth & reaccelerating revenue, while also increasing development velocity in account sharing & advertising,” JP Morgan wrote in the note. [ad_2] Source link

[ad_1] The best mortgage lenders offer a variety of benefits that help them stand out, from low-interest rates to reasonable closing costs. Most of the top lenders also make it easy to shop around and compare mortgage rates online and from the comfort of your home, and many specialize in mortgage loan products that help first-time buyers ease their way into homeownership.  If you’re shopping for a new home or you need to refinance the mortgage for a property you already own, you should find out which mortgage lenders offer the best loans and terms. 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[ad_1] Gujarat Congress leader and Vadgam MLA Jignesh Mevani was arrested late on Wednesday night by Assam Police. He was arrested from Palanpur Circuit House at around 11:30 pm. He was taken to Ahmedabad last night and shall be taken to Assam today. While the reason behind arrest of Mevani, a Dalit leader and convenor of political party Rashtriya Dalit Adhikar Manch, is not clear yet, it is said that he has been arrested in connection with some of his tweets. His Twitter account shows that some recent tweets by him have been withheld due to a request by authorities. “Police yet to share FIR copy with us. Prima facie, we have been informed about some cases filed against him in Assam,” said Mevani’s team. Gujarat | Congress Vadgam MLA Jignesh Mevani arrested by Assam Police from Palanpur Circuit House around 11:30 pm last night, as per Mevani's team. "Police yet to share FIR copy with us. Prima facie, we have been informed about some cases filed against him in Assam," they added pic.twitter.com/lYkKzCwOpu — ANI (@ANI) April 20, 2022 Jignesh Mevani is the MLA from Gujarat’s Vadgam. He is an independent MLA, but has extended support to the Congress. He along with political activist and JNU’s former students’ union leader Kanhaiya Kumar had held a press conference with Congress’s Rahul Gandhi where Kumar had joined the Congress party and Mevani extended his support to Gandhi. [ad_2] Source link

[ad_1] The National Association of Realtors reported that existing home sales for March came in as a miss of estimate at 5.77 million. However, the real story of 2022 is that the savagely unhealthy housing market continues as inventory is still lower than last year, sending home prices growth into double digits again. However, hope for a balanced market is real this year because, with higher rates, we should see more days on the market coming up and growth in the inventory data. The 5.77 million sales print on Wednesday is in line with my 2022 forecast sales range between 5.74 million and 6.16 million. Last year I discussed sales levels coming back down to 5.84 million, and I am looking for more of the same in 2022, at the 5.74 million level. Like last year, I was anticipating a few prints under 5.84 million. We only got one, and the same with this year under 5.74 million.  However, unlike the previous year, we have a material change in the U.S. housing market; the 10-year is above 1.94%, something that didn’t happen in 2020 or 2021. This means higher mortgage rates, so we need to talk about the housing market in a rising-rate environment without going into housing crash mode like the professional grifters do for clicks. From NAR: Total existing-home sales dipped 2.7% from February to a seasonally adjusted annual rate of 5.77 million in March. Housing demand has been stable for the past few years; we have never had a credit boom in demand since 2002-2005. So, we never had a credit bust as we saw from 2005 to 2008. However, post-2010, we have had times when housing demand has gotten softer with higher mortgage rates. In 2013-2014, rates rose, and you see the lower trend in sales back then. Demographics and employment levels were much different at that time, so it isn’t the best comp to use compared to 2020-2024, which has the most significant housing demographic (ages 28-34) running at 32.5 million. In 2018 when mortgage rates rose, we saw existing home sales trend lower from 5.72 million to 4.98 million in January 2019. Even though total existing-home sales didn’t do much in 2018 and 2019, we see how higher rates impacted the demand curve. The housing data we got yesterday with housing starts are backward-looking. The same should be thought about today and going out in the future. How does application data look? Due to COVID-19, I needed to make severe adjustments because the year-over-year data has been out of whack. This data line has been negative since June of 2021. With proper adjustments, you can tell what is going on. 2022 is looking to be the first actual negative year-over-year purchase application year since 2014. However, the decline is mild so far.—Week to week: -3%—Year over year: -14%—4 week moving average YoY: -975% The week-to-week action has produced two mild positive and two mild negative prints for four weeks. I believe the COVID-19 comps ran out by mid-February this year. So the year-over-year data is good to go. We are between what we saw in 2018 — with a mild response to higher rates — and 2014, where the reaction was much more severe. When it moves, this data line moves up and down 20%-30%. So the four-week moving average, while a noticeable weakness, isn’t anything too big yet.  As you can see, the 2018 purchase application data didn’t show much of a reaction; it only had three very mild negative year-over-year prints and stayed true to the seasonal volumes declines we typically see after May. When rates rose in the middle of 2013, we saw a clear downtrend in purchase application data, and in 2014 we saw a 20% year-over-year decline trend. 2014 was the last year total inventory grew. Sales went down that year, and the growth rate in pricing cooled off. Let’s hope for a similar response in 2022. NAR:  Total housing inventory at the end of March totaled 950,000 units, up 11.8% from February and 9.5% from one year ago (1.05 million). Unsold inventory sits at a 2.0-month supply at the present sales pace, up from 1.7 months in February and down from 2.1 months in March 2021. Inventory levels are always seasonal; rising in the spring and summer and fading in the fall and winter. The goal is to get higher inventory data on a year-over-year basis in 2022, and higher rates should do it. Even if we get some positive year-over-year prints, the housing market is still working from all-time lows. However, we have to start somewhere. My goal has always been the same; we want inventory to get back into a range of 1.52 – 1.93 million. We have a lot of work to do to get back to those levels. This year, I am “team higher mortgage rates” because the writing was on the wall for another year of unhealthy home prices. We are showing negative year-over-year data in inventory even this week. Since we blew past my 23% home-price growth model for five years in just two years, I need to adjust how I looked at the housing market once rates rose.  For example, if home prices grew 3% a year in 2020, 2021, and 2022, mortgage rates rising wouldn’t be a big deal. However, in 2020 alone we had 10% home-price growth. I create models to keep us in line with the data and not run into hypothetical situations. As long as home prices grew at 23% cumulative for five years of total home sales, both new and existing homes should be 6.2 million or higher. However, since we broke that in two years and are still showing 15% home-price growth in 2022, we risk demand being hit harder than usual when rates rise. Well, this is what is happening in 2022. NAR: The median existing-home price for all housing types in March was $375,300, up 15.0% from March 2021 ($326,300), as prices rose