Business Update – August 23, 2022
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
Stock futures fall ahead of economic symposium
Fears of aggressive interest rate hikes returned to Wall Street this week as stock futures fell. Investors are anticipating a volatile week as the Fed holds its annual Jackson Hole economic symposium.
Home showings and deals are down as mortgage rates lower
As inflation rates seem to stabilize, mortgage rates have started going back down. Many potential buyers are holding out on their big purchase as they try to find their footing in the volatile market.
Power shortage further disrupts factories in China
The Chinese province of Sichuan extended industrial power cuts to deal with “extremely outstanding” electricity supply deficiencies. A heat wave and lack of rainfall is to blame. The cuts added to manufacturers’ woes in the region as factories shut down.
Some argue against turning to technology to revive the rental housing market
Last week, Adam Neumann’s new company Flow was in the headlines for trying to address the problems in the rental market. Some aren’t so convinced that technology is the answer.
Back to school costs more this year
The cost of everything is going up, and that includes back to school supplies. The Wall Street Journal provides a breakdown of just how much more those supplies cost this year.
Target is not looking good but is optimistic anyway
Target just posted a 90% plunge in profits compared to last year, following a quarter that already saw a 40% drop. However, analysts think that things are looking up as the retail giant makes moves to shift out of its pandemic strategy.
The best states to start your own business
Branding and design website Looka has released their breakdown of the five best states to quit your job and launch your own business, based on the success rates of each state’s startups after one year.
It now costs over $300,000 to raise one child
New figures from the Brookings Institute found that the average amount a married, middle-income couple with two children would spend to raise a child born in 2015 through high school is now estimated to be $310,605, or $18,270 a year.
The most expensive grocery store picks heading into fall
With the cost of living rising, Eat This Not That has compiled a list of five grocery products that have become so much more expensive that they’re worth skipping if you can help it.
Yes we still want fries with that
With volatile markets, higher prices for almost everything, and rising inflation rates, a peculiar anecdote known as the “fry attachment rate” seems to be holding steady.
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