Berkshire Adds Google, Delta, Trims BofA, Kroger As Abel Taps Into Record Cash Hoard

Jobs 'AI'pocalypse No! Initial Jobless Claims Hover Near Record Lows The number of Americans filing for unemployment benefits for the first time dropped to 203k last week The first time initial jobless claims hit this level was in May 2022. New York and Illinois saw the largest rise in initial claims while California and New Jersey saw the biggest declines... Continuing jobless claims also dropped, holding below the 1.8 million Americans Maginot Line... Another week, another confirmation that the 'low hire, no fire' economy remains the driving force and the Jobs AIpocalypse remains absent...

On Sunday, British Royal Marines boarded and seized an oil tanker in the English Channel that the UK says is part of Russia’s “shadow fleet,” a term Western countries use to describe vessels that ship Russian oil despite US and European sanctions. According to ship-tracking data, the tanker Smyrtos was sailing under the Cameroonian flag, […]

One Forgotten Housing Supply-Side Lever Could Unfreeze Affordability Rental affordability remains far superior to mortgage affordability, with the U.S. 30-year fixed mortgage rate trending around 6.5% in early June. With home prices still at record highs, last week's housing report showing sellers pulling listings at a near-record pace as buyers balk at prices is yet another warning sign that the frozen housing market remains well intact. The Trump administration's affordable housing strategy focuses on market deregulation, expanded homeownership, stricter citizenship requirements for federal housing assistance, and Fannie Mae and Freddie Mac...