The National Association of Realtors (NAR) reported that pending home sales in the U.S. dropped to a record low in April. The index of pending home sales decreased by 20.8% from March to a seasonally adjusted reading of 68.9, worse than even the depths of the financial crisis, when it registered at 71.3 in February 2008. The report noted that the decrease was due to financial hardships many Americans face due to the coronavirus pandemic, especially the loss of jobs and income, resulting in a decreased ability and willingness to purchase a home. The index was also 19.8% lower than its reading in April of last year.
The parent company of Anheuser-Busch, AB InBev, has announced that its top U.S. marketing executive, Jorn Socquet, will be departing the company after its March-quarter sales report showed a double-digit decline in Bud Light sales. Socquet, who joined the company in 2011, had overseen the global Budweiser and Bud Light brands as well as AB […]
Americans are unusually down on a solid economy. So far, they aren’t spending — or voting — like it.
Americans generally view the US economy as strong. Unemployment is at a 50-year low and the stock market is at record levels. Consumers have more money in their pockets due to increased paychecks and bonuses from the Tax Cuts and Jobs Act of 2017, and they are enjoying some of the lowest gas prices in […]
CNN has announced that former New York Times CEO Mark Thompson will serve as its new President and Chief Executive Officer, effective February 21. Thompson brings three decades of high-level media experience to CNN, having served as chief executive of the BBC and latterly the New York Times. He has a proven track record of […]