Financial
Average US mortgage rates dip slightly PDF  | Print |  E-mail
Written by David Dupont   
Thursday, 17 July 2014 11:50
WASHINGTON (AP) — Average U.S. mortgage rates declined slightly this week with rates remaining near historic lows.
Mortgage company Freddie Mac reported Thursday that the nationwide average for a 30-year loan dipped to 4.13 percent, down from 4.15 percent last week. The average for the 15-year mortgage, a popular choice for people who are refinancing, edged down to 3.23 percent, compared with 3.24 percent last week.
Mortgage rates are below the levels of a year ago, having fallen in recent weeks after climbing last summer when the Federal Reserve began talking about reducing the monthly bond purchases it was making to keep long-term rates low.
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Rejected Fox bid for Time Warner shows growth mood PDF  | Print |  E-mail
Written by By MAE ANDERSON AP Business Writer   
Wednesday, 16 July 2014 13:11
NEW YORK (AP) — Though rejected, a surprise bid by Rupert Murdoch’s Fox for entertainment rival Time Warner underscores that large media companies are in the mood for major consolidation.
Time Warner Inc., which owns the Warner Bros. movie studio and TV channels such as TNT, TBS and HBO, said Wednesday that it rejected the deal and had no interest in further discussions. Twenty-First Century Fox Inc., known for movies hits such as the “X-Men” franchise and “Dawn of the Planet of the Apes,” confirmed last month’s takeover bid and said the two companies aren’t currently in talks.
The cash-and-stock offer, worth about $76 billion, comes on the heels of cable giant Comcast Corp.’s proposed $45 billion takeover of Time Warner Cable Inc., which was made in February and is undergoing regulatory review.
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Pets’ amenities rising trend for homebuilders PDF  | Print |  E-mail
Written by By SUE MANNING Associated Press   
Wednesday, 16 July 2014 13:23
LOS ANGELES (AP) — These homes are set apart by their amenities — for dogs.
Standard Pacific Homes is building and selling homes in 27 developments from Florida to California and is believed to be the first to offer a pet suite as an option in every one.
The suite is a 170-square-foot pet paradise with a step-in wash station, handheld sprayer and leash lead; tile walls and floors; a designated drying area with a commercial sized pet dryer; a water station; automated feeders; a large bunk-style bed; cabinets for toys, treats and food; a stackable washer and dryer; a French door that opens to a puppy run; and a flat-screen television set.
Standard Pacific, based in Irvine, decided to offer pet suites after conducting livability studies with homeowners. Pets were a constant theme, said Jeffrey Lake, vice president and national director of architecture for Standard Pacific.
Last Updated on Wednesday, 16 July 2014 13:24
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CSX optimistic long-term but predicts flat 3Q PDF  | Print |  E-mail
Written by By JOSH FUNK AP Business Writer   
Wednesday, 16 July 2014 13:07
OMAHA, Neb. (AP) — CSX is optimistic about its long-term performance, but the railroad’s profit during this quarter will likely be relatively flat.
The company discussed its second-quarter results Wednesday after edging out Wall Street profit expectations.
CSX saw a surge in demand, particularly for hauling coal and crude oil, at the same time that it was attempting to clear a backlog of shipments delayed by severe winter weather.
Those frigid temperatures led to a 6 percent increase in coal shipments because utilities in the Northeast had a smaller window in which to ship coal over the Great Lakes. That’s encouraging for the railroad because it signals fewer utilities are switching power plants from coal to natural gas, which can be shipped through pipelines.
“These results are evidence of both broad-based economic momentum across most markets, and a transition in the energy markets that is largely behind us,” said CEO and Chairman Michael Ward.
Last Updated on Thursday, 17 July 2014 11:51
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