BUSINESS - Research Editorial

Drop in US mortgage rates to below 7% provides little relief to home buyers

Mortgage rate has dropped for the second time in eleven weeks in the week ending November 3. Rates on 30-year fixed mortgages fell 13 basis points to 6.95%. In the previous week, 30-year fixed rates rose 14 basis points to 7.09%.

Following the current drop, rates are up 196 basis points from the most recent low of 4.99% on August 3. Year over year, 30-year fixed rates increased by 386 basis points.

The drop on Thursday also corresponded with the release of the Bureau of Economic Analysis’ gross domestic product data, which revealed that the US economy contracted for the second consecutive quarter. That is a generally regarded indicator of impending recession. According to the preliminary estimate, GDP declined 0.9% on an annualised basis over the period. Dow Jones polled economists, forecasted 0.3% growth.

As this news coming-out, investors rushed to the relative safety of the bond market, prompting rates to plummet. Mortgage rates are influenced by the yield on the 10-year US Treasury bond.

“This is an extremely quick drop!” exclaimed Matthew Graham, COO of Mortgage News Daily. “Perhaps even more interesting (and unexpected) is that mortgage rates have fallen faster than US Treasury yields.” It’s usually the other way around, with investors flocking first to the most basic, risk-free bonds.”

Graham stated that the recent rate move has produced a situation in which investors would choose to hold mortgage debt with lower interest rates.

In the coming week:

US consumer inflation expectations will be closely watched ahead of Tuesday’s wholesale inflation results. Retail sales, on the other hand, are expected to have the greatest impact on yields and mortgage rates.

Following last week’s US Jobs Report, the figures would have to impress in order to push mortgage rates back down to 7%. Despite Fed Chair Powell’s hawkish FOMC news speech on Wednesday, December Fed pivot bets remain.

iPhone 15 in 2023: Apple iPhone 15 Design Revealed by New Apple Leak

Elon Musk admits to a ‘massive reduction’ in revenue, prompting Twitter layoffs

Twitter temporarily closed its headquarters and restricted employees’ access to internal systems on Friday, a week after billionaire Elon Musk took over the social media network.

Musk announced the layoffs shortly after tweeting that the firm had seen “a big loss in revenue, due to activist groups pressing advertisers, even though nothing has changed with content filtering and we done everything we could to placate the activists.” Totally messed up! They are attempting to undermine free speech in America.”

According to internal sources, the “entire” curation team on Twitter had been fired, while system lockouts made confirmation difficult. Twitter’s curation staff is critical in covering “civic integrity” events like elections, breaking news, and sports, ensuring users receive validated content presented as moments, trends, and subjects items. Internally, it is seen as a critical filter against deceptive posts.

Flags from partner news organisations concerning probable misrepresentation on the platform, according to the staffer, went unanswered. “The platform is going to grow more poisonous with less healthy information to challenge the disinformation or misinformation narratives,” stated an anonymous employee.

Some employees awakened on Friday to find their laptops locked and their access to business Gmail and Slack terminated. “Well, this isn’t looking promising,” Chris Younie, who works for Twitter in entertainment partnerships in the UK, tweeted. I’m unable to access my emails. Mac will not turn on. But I’m grateful that this is happening at 3 a.m. I really appreciate your consideration on the time front, gentlemen…”

The policy on misleading content on Twitter involves labelling disputed posts and highlighting contextualising information next to such messages. The employee stated that they were notified through email that their position was being reviewed.

The layoffs were announced in an email to employees on Thursday. “We will go through the arduous process of decreasing our global workforce in order to put Twitter on a healthy path,” the email added. “We know that this will have an impact on a lot of individuals who have made significant contributions to Twitter, but this move is unfortunately required to ensure the company’s continued success.”

The abrupt manner of the layoffs may have also violated California employment law, and Musk is already facing legal action.

Employers with at least 100 employees are required to declare layoffs involving 500 or more employees under the Worker Adjustment and Retraining Notification (Warn) legislation, regardless of whether the company is publicly listed or privately held.

According to Barry White, a representative for California’s workforce development department, the government has not received any such notices from Twitter as of Thursday.

Former Twitter senior community manager Simon Balmain told the Guardian he was “shocked, but not surprised” by the company’s rapid employment layoffs. “I had finished work but still had my laptop open and we all received an email from the employer announcing a reduction in head count,” said Balmain, who had been with the company for a year. My laptop flashed and was deleted an hour later, and I lost access to my programmes.”

Twitter employees have been pushed to work 84-hour weeks and managers have slept at the office over the weekend in order to meet Elon Musk’s strict deadlines.

iPhone 15 in 2023: Apple iPhone 15 Design Revealed by New Apple Leak

After the release of Apple’s iPhone 14 and iPhone 14 Pro lines, there have been numerous reports about the following iteration: the iPhone 15. It’s still early, as these devices aren’t expected to be released until fall 2023, but the rumor mill never stops.

Remember, everything we know so far is based on rumors and other media stories – nothing has been official yet, and it probably won’t be until we get closer to the traditional new iPhone season in September. While you may be (rightly) suspicious of some rumors, they do point to the path Apple is likely to take with the next iPhone.

Though Apple introduced the iPhone small with the iPhone 12 lineup and continued to use it with the iPhone 13 series, the mini was discontinued when the iPhone 14 was released. It was superseded by the larger iPhone 14 Plus, which went from a 5.4-inch screen to a gigantic 6.7-inch display (same as the iPhone 14 Pro Max), with the original iPhone 14 and iPhone 14 Pro remaining at the previous generation’s 6.1-inch size.

*The Apple A16 Bionic is a 64-bit ARM-based system on a chip designed by Apple Inc. and manufactured by TSMC*

Apple is likely to continue this with the iPhone 15 series, which will include an iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max. Again, the basic iPhone 15 and iPhone 15 Pro are expected to have 6.1-inch displays, while the iPhone 15 Plus and iPhone 15 Pro Max will have 6.7-inch displays.

However, the name of the iPhone 15 Pro Max may alter. According to reports, the “Pro Max” designation may be replaced with “Ultra,” akin to the Apple Watch Ultra.

Those hoping for a big change in the iPhone may be disappointed, as the iPhone 15 may look identical to the iPhone 14. While the Dynamic Island pill-and-hole cutout was previously exclusive to iPhone 14 Pro models, Apple may be spreading it to all iPhone 15 models. If this is the fact, the iPhone 15 will be the first iPhone range to do away with the notch entirely.

As previously stated, four iPhone 15 versions are expected: the 6.1-inch iPhone 15, the 6.7-inch iPhone 15 Plus, the 6.1-inch iPhone 15 Pro, and the 6.7-inch iPhone 15 Pro Max (or Ultra).

*iPhone 15 Pro Max may alter. According to reports, the “Pro Max” designation may be replaced with “Ultra,” akin to the Apple Watch Ultra.*

According to a new claim, the iPhone 15 may ditch the physical buttons in favor of haptic, solid-state power and volume controls. This would function in the same way as the iPhone 7 Home button. Instead of physically depressing when pressed, it would use haptic feedback to simulate how it would feel if a button was pressed.

If the report concerning solid-state buttons is correct, the iPhone 15 would need two Taptic Engines on the left and right sides. Such a modification would also have an impact on case compatibility; even if the iPhone 15 models were the same size and thickness as the iPhone 14 (with the camera bump), you’d need a case that allows for constant access to the haptic buttons.

In fact, I wouldn’t be shocked if the rumored delay in M2 MacBook Pro shipping isn’t related to the firm rethinking how it will position M1 models in general: continue selling them at a discount like the M1 MacBook Air and risk additional cannibalization, or replace the models totally. It’s a developing issue that Apple needs to address across several product lines.

Some questions remained, such as how cases will function (cutouts may feel weird), but it appears to be a pretty positive step overall. Combine this with reports that Apple will release an iPhone 15 Ultra with a super strong titanium chassis, dual-facing front cameras, a Thunderbolt 4-powered USB-C port, and a new design for standard iPhone 15 models in 2023 — and it appears that the excitement surrounding iPhones will return in 2023.

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Nikon’s Z9 Firmware 3.0 Update Available with Nearly 20 New Features

Coca-Cola Announces a Holiday Promotion offers and Adds NaviLens Codes to Multi-Packs

Coca-Cola Europacific Partners (CCEP) is kicking off its annual Coca-Cola Christmas countdown this month with the introduction of a new on-pack promotion to assist with the cost of memorable festive moments.

Prizes for Coca-Cola Zero Sugar and Coca-Cola Original Taste include £200 coupons for Christmas feasts as well as thousands of seasonal gifts. Coca-annual Cola’s classic Christmas marketing campaign lends support.

From mid-November, festive-themed sharing packs of Coca-Cola Original Taste, Coca-Cola Zero Sugar, and, for the first time, Coca-Cola Zero Sugar Cherry will be available, featuring the renowned Sundblom Santa Claus.

From the 21st of November, shoppers may scan QR codes on-pack for a chance to win pre-loaded £200 ‘Festive Feast’ gift cards from Love2Shop, which are accepted by supermarkets, food aggregators, restaurant chains, and other retailers.

The sale will be available on big PET bottles (1.25lt, 1.75lt, and 2lt) as well as multi-packs of cans.

In the meanwhile, Coca-Cola’s Christmas can multi-packs (24 & 30) will contain NaviLens codes on the cardboard outters for the first time, allowing partially sighted customers who have difficulties navigating traditional signage to find their desired products. Shoppers who are partially sighted will be able to scan the codes with their phone camera, and the information they require will be contextualized in the NaviLens app. They do not need to know the exact location of the codes because they can be detected at wide angles, from distances of up to four meters, and when unfocused.

“Coca-Cola has been bringing people together at Christmas for more than 130 years, and this year is no different,” said Martin Attock, vice president of commercial development at CCEP GB. We want to help buyers focus on having beautiful moments with friends and family this Christmas by giving them a little something to invest towards a special meal.”

Catch the latest news on business trends: Dabur, an FMCG giant, plans to spice up the market by acquiring major stakes in Badshah Masala for Rs. 588 Crore

Elon Musk is considering making verification a Twitter Blue perk.

According to Platformer Casey Newton and The Verge, with Elon Musk in control, Twitter plans to raise the price of its Blue subscription plan from $5 to $20 per month and make it mandatory for verified users. If the plan is launched, verified users (celebrities, politicians, journalists, etc.) must sign up for the service within 90 days or lose the blue check mark. Employees working on the project have reportedly been told they will be fired if the improvements are not implemented by November 7th.

Twitter introduced Blue in the United States late last year for $3 a month but raised the price to $5 in July. It provides subscribers with benefits such as top articles, unique icons, and, most recently, the ability to modify tweets. The firm has not disclosed membership counts, revenue, or other statistics regarding Twitter Blue, but according to Investopedia, the great majority of its revenue (89 percent) comes from advertising.

Musk indicated the change in a tweet yesterday, saying that “the entire verification procedure is being rebuilt right now.” As Newton pointed out, Twitter’s @verified now follows approximately 428,000 accounts that have the blue check, representing a small percentage of the site’s 206 million daily active users.

Many of them have tweeted about the change, and many would not pay $20 to maintain their verified status. At the same time, users have expressed concern that the new approach may exacerbate Twitter’s bot and spam concerns, which Musk appears to despise. “The objective of Twitter verification is… to be able to verify their assertions are coming from them,” cosmologist and writer Katie Mack tweeted.” It’s meant to combat misinformation, not to be a status symbol.”

Musk has been very busy in his short days as “chief twit.” According to The New York Times, he has ordered company-wide layoffs. On Saturday, the SpaceX and Tesla CEO reportedly instructed managers to begin compiling lists of staff to lay off.

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Big names are leaving Twitter under a week after Elon Musk took over, and rising hate and strict regulations are said to be the reason

Elon Musk closes a $44 billion Twitter deal, bringing an end to a months-long saga.

US Speaker Nancy Pelosi’s husband, Paul Pelosi, was attacked by suspect David Depape, who yelled “Where is Nancy?” according to a source.

Early morning Friday, an intruder broke into House Speaker Nancy Pelosi’s San Francisco home and “violently assaulted” her husband, Paul Pelosi, who is being treated at a local hospital.

According to San Francisco Police Chief Bill Scott. The suspect in the attack on Paul Pelosi will face charges including attempted homicide and assault with a deadly weapon, he also told reporters that officers responded to the Pelosi residence at 2:27 a.m. and found an adult male and Mr. Pelosi “both carrying a hammer. The suspect, 42-year-old David Depape, “pulled the hammer away from Mr. Pelosi and violently attacked him with it.” Scott said that the Our officers immediately tackled the suspect, disarmed him, arrested him, called the emergency backup, and rendered medical help,”

According to a News source reporter, the intruder addressed the Speaker’s husband, shouting, “Where is Nancy, where is Nancy?”

President Biden “is praying for Paul Pelosi and for Speaker Pelosi’s whole family” following the “horrible attack.”

US Speaker Nancy Pelosi’s husband, Paul Pelosi, was attacked, according to San Francisco Police Chief Bill Scott. The suspect in the attack on Paul Pelosi will face charges including attempted homicide and assault with a deadly weapon

According to two sources familiar with the investigation, Paul Pelosi was specifically targeted, violently assaulted with a hammer, and suffered blunt force injuries to his head and torso. According to the sources, Pelosi is being treated for injuries like bruises and significant swelling.

On Friday, San Francisco Mayor London Breed sent a statement to Fox News Digital in response to the attack.

“This was a horrifying and terrifying incident. I’ve reached out to Speaker Pelosi to express my solidarity with her and her family. I’d want to express my gratitude to the 911 dispatcher, the San Francisco Police Department, and the San Francisco Fire Department for their prompt reaction to this situation. The suspect is in police custody, and we will disclose further information as it becomes available “Breed stated.

Lawmakers respond to the attack:

Lawmakers from both parties quickly condemned the incident and expressed their support for the Pelosi family.

Mitch McConnell, R-Ky., said he was “horrified and appalled” by the attack and is “grateful to hear that Paul is on course to make a full recovery.”

Lawmakers respond to the attack on Twitter

Senate Majority Leader Chuck Schumer, D-NY, issued a statement calling the attack a “dastardly act” and expressing his “deepest sorrow and sincere wishes” to Speaker Nancy Pelosi.

Texas GOP Sen. Ted Cruz called the attack “horrific”, adding “We can have our political views, but violence is always wrong and unacceptable.”

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Today’s Headline: Elon Musk closes a $44 billion Twitter deal, bringing an end to a months-long saga.

Elon Musk closes a $44 billion Twitter deal, bringing an end to a months-long saga.

Elon Musk finally completed his $44 billion acquisition of Twitter Inc., according to people who are familiar with this matter, the world’s richest man takes charge after long time of 6 months struggle with public and legal wrangling over the deal for the social network

Now Twitter will operate as a private company and the shareholders will be paid $54.20 per share.

The conclusion brings to an end a complicated process that commenced in January with the billionaire quietly accumulating a sizable investment in the company, his developing expression of how the way it’s handled and run, and an eventual merger agreement that he later spent months trying to unravel.

Musk agreed to proceed on his originally proposed terms On Oct. 4, and a Delaware Chancery Court judge gave the two sides until Oct. 28 to close the deal. That deadline was met, and now the CEO of both Tesla Inc. and SpaceX Elon Musk, also takes control of Twitter, a service he uses frequently but openly criticizes, and he has promised to modify dramatically. Stocks of the company’s shares are no longer expected to trade on the New York Stock Exchange.

As the deadline is close, Musk began to stamp his mark on the company, posting a video of himself entering the headquarters and changing his profile descriptor on the platform he now owns to “Chief Twit.” He planned to address the staff on Friday and arranged the meetings in between Tesla Engineers and product leadership at Twitter. According to the people, Twitter’s developers could no longer make modifications to code as of noon Thursday in San Francisco, as part of an effort to guarantee that nothing about the product changes until the deal closes.

***Now Twitter will operates as private company and the shareholders will be paid $54.20 per share.***

Since the merger was revealed in April, Twitter staff have been bracing for layoffs, and Musk mentioned the concept of cost cutbacks to banking partners when he was initially fundraising for the deal. A person familiar with the subject earlier this month told some possible investors that Musk aims to reduce 75% of Twitter’s employees, which now numbers around 7,500, and expects revenue to double within three years.

According to people familiar with the matter said, while visiting the headquarters on Wednesday, Musk told all employees of Twitter that he does not intend to lay off 75% of the company’s employees when he takes over.

During an all-hands meeting in June following his acquisition deal, Musk stated that Twitter “needs to get healthy,” a reference to cost-cutting. He has also stated that only “extraordinary” employees will be permitted to work from home, with everyone else required to come to the office. Twitter, situated in San Francisco, was one of the first significant corporations to guarantee all employees the ability to work from anywhere “forever.”

Twitter has assisted him in some of his efforts. In May, the company declared a hiring freeze, shuttered or downsized many locations worldwide, and canceled a companywide trip to Disneyland in 2023.

It was long assumed that Agrawal would step down once Musk took over. Text conversations revealed during the case suggest that the two men had a contentious discussion early in the process, and Musk later criticized Agrawal for being on vacation in Hawaii during some of the early negotiations. Former Twitter CEO Jack Dorsey’s efforts to get them back together after the merger was announced ended poorly.

The last six months have been difficult for Twitter employees, who have mostly followed the ups and downs of the roller-coaster agreement via news headlines.

Catch all the breaking news, and headlines on Business, Social Media, World, Research Editorial, Healthcare News

The central bank of Egypt has declared a 2% increase in interest rates.

Announced by Egypt’s central bank on Thursday that it raised the key interest rates by 2% and switched to a more flexible exchange rate system in a bid to combat the country’s mounting economic issues.

Egypt is trying to secure a new loan from the International Monetary Fund after its economic woes deepened due to the war in Ukraine. The fund has long been urging Egypt to allow greater exchange rate flexibility.

The bank’s Monetary Policy Committee said in a statement that it had raised the new lending rate to 14.25% and the deposit rate to 13.25%. The discount rate was also raised to 13.75%, it said.

Also, the bank announced, it had moved to “a durably flexible exchange rate” system, a change that would allow the international markets to “determine the value of the Egyptian pound against other foreign currencies.”

***The central bank of Egypt has declared a 2% increase in interest rates.***

The actions are intended to lessen the financial strain on lower- and middle-income households and counteract rising inflation, which reached 15% in September. The adjustments come as the Egyptian government continues its months-long discussions with the International Monetary Fund for a new loan to fund a reform plan that would assist in addressing the nation’s struggling economy.

The coronavirus pandemic and the war in Ukraine, which have disrupted international markets and raised oil and food prices globally, have had a significant negative impact on the Egyptian economy. The majority of the wheat Egypt imports comes from Russia and Ukraine, making it the largest importer in the world. The nation’s supply is susceptible to shifts in price on the global market.

The National Bank of Egypt supplied data showing that after the bank’s announcement, the value of the Egyptian Pound decreased from roughly 19.75 Pounds to a Dollar to at least 22.50 Pounds to a Dollar.

The bank stated, “Egypt is committed to stepping up its reform agenda to ensure macroeconomic stability and promote strong, sustainable, and inclusive growth.”

Also, check Dabur, an FMCG giant, plans to spice up the market by acquiring major stakes in Badshah Masala for Rs. 588 Crore

Dabur, an FMCG giant, plans to spice up the market by acquiring major stakes in Badshah Masala for Rs. 588 Crore

Indian FMCG company Dabur announced on Wednesday that it will acquire 51% shareholding of Badshah Masala Pvt Ltd, in a Rs 587.52-crore deal, marking its entry into the fast-growing spices and seasoning category, which is in the business of manufacturing, marketing, and export of ground and blended spices and seasonings.

“This acquisition is in line with the Dabur’s strategic intention to enter an adjacent new category in the food sector to Rs. 500 Core in three years, ” Dabur India said in a regulatory filing. It also marks his entry into the over 25,000 crore ground and blended spices and seasonings market in India.

The acquisition had announced by the Chairman of Dabur India Ltd, Mohit Burman: “Our investment in Badshah Masala will help us to grow in this business and continue to deliver unmatched quality products. This acquisition will gear up the growth strategy as we continue to grow in our food business sector, Our intention is to leverage our international business in the food sector and market presence to expand business across the globe.

**Indian FMCG company Dabur announced on Wednesday that it will acquire 51% shareholding of Badshah Masala Pvt Ltd**

According to a report by Avendus Capital, The blended spices and seasonings market in India is valued at Rs 70,000 crore, in which 35 percent share is for branded spices market and it’s set to double the size by 2025 to Rs. 50,000 crores. Avendus Capital, estimated that in FY30, 15 spices companies are estimated to exceed the revenue by Rs. 1,000 crores, and four will achieve an annual turnover of Rs. 5,000 crores.

According to Trendlyne statistics, In May 2001, Dabur declared 47 dividends. It declared a total dividend of 520.00%, or Rs 5.2 per share, in the most recent fiscal year. This results in a dividend yield of 0.98% at the current share price of Rs 532.15. Looking to buy the majority of stakes in Badshah Masala. It intends to acquire 51% of Badshah Masala’s equity share capital right away and the remaining 49% after five years. According to the company’s filing with the exchanges, the purchase is subject to the fulfillment of a number of terms and conditions outlined in the SPA and the SHA.

Currently, Dabur’s includes the following products in his FMCG portfolio: Dabur Amla, Vatika, and Dabur Red Paste also in the Personal Care category; Dabur Honitus, Dabur Honey, Dabur PudinHara, Dabur Chyawanprash, and in the Food & Beverage category products are Dabur Lal Tail.

In FY22, Dabur reported combined operating revenue of Rs 10,889 crore and a combined profit after tax of Rs 1,742 crore.

“Badshah’s potential for future growth will be put on a greater trajectory thanks to Dabur. Our businesses are a perfect fit. The addition of our products to Dabur’s extensive product line would allow us to accelerate our expansion and better serve consumers worldwide “Hemant Jhaveri, managing director of Badshah Masala Private Limited, stated.

In the coming week:

Twitter employees have been working far longer hours than usual since Elon Musk came on board, according to Research Editorial. This comes as employees face the prospect of layoffs as part of the internet mogul’s planned makeover of the company.

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Lawmakers respond to the attack: