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Boeing Strike: Missouri Workers Reject Contract Deal

by Priya Shah – Business Editor September 15, 2025
written by Priya Shah – Business Editor

Boeing Defense Workers Remain on Strike ​after Rejecting Contract Offer

Striking Boeing​ defense workers in Missouri voted Friday to reject the company’s latest contract offer, ‌according to the International Association of ​Machinists and Aerospace Workers (IAM). This decision means more than 3,000 workers in the St. Louis area will continue their strike – the ‌first‍ walkout⁢ in nearly three decades.

The union stated that Boeing’s modified offer fell short in two key areas: a sufficient signing bonus compared to other Boeing⁤ workers,and an increase in 401(k) benefits. “the ⁤democratic vote underscores the determination of approximately 3,200 ‌IAM Union members to‌ continue their stand⁤ together until their voices are heard,” the IAM said in a statement.

A tentative five-year agreement had ‌been reached with Boeing on Wednesday, featuring improved ‍wages ⁤and ‍a signing bonus, ​and was put to a vote​ on friday.The‌ rejected deal included an ​average wage growth of 45%,with IAM 837 ​noting it would raise the average wage from​ $75,000 to $109,000.

IAM International ⁣President Brian Bryant emphasized the workers’ resolve,⁣ stating, “Our members in St.⁤ Louis ‌have ⁣once again ​shown that they​ will not settle for Boeing’s half-measures.Boeing must start listening to its employees and ⁣come back to the table with a meaningful‌ offer that respects the sacrifices and skill ‍of these workers.”

Boeing has responded by announcing it is hiring permanent‌ replacement ​workers to address rising demand. Dan Gillian, Boeing Air Dominance Vice President, stated the company is “disappointed” and that no further talks are currently scheduled.

“We’ve made clear the overall economic framework of ⁣our offer will not ⁤change, but we have consistently ⁤adjusted the ⁣offer based on⁣ employee and union feedback to better address their concerns,” Gillian said. “We will continue to execute our contingency plan, including ​hiring permanent⁣ replacement ‍workers, as we maintain⁤ support for our customers.”

The striking⁢ workers primarily assemble and maintain F-15 fighter jets ⁤and missile systems. They initially went on strike in early August and​ previously ‌rejected an offer ⁢that included ​20% general wage increases and a $5,000 signing bonus.

September 15, 2025 0 comments
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World

Pending Home Sales Decline: Contracts Canceled at Record High

by Priya Shah – Business Editor September 14, 2025
written by Priya Shah – Business Editor

Housing Market‌ Cools: Pending Sales Dip‍ and Cancellations Surge in July

Washington D.C. – August 28,2024 ‍- The U.S. housing ​market showed further signs of⁤ cooling in July, as pending home sales declined and contract cancellations reached levels not seen​ since​ 2017, according to data released today. the slowdown underscores ongoing‌ affordability challenges and buyer hesitancy amidst ​economic uncertainty.

The National Association of Realtors (NAR) reported a 0.4% decrease in its⁢ monthly pending home sales index for July, compared to June.while sales remained 0.7% above ‌ levels ‍seen in July 2023, ‌the month-over-month dip signals a weakening trend.

A key factor contributing to the slowdown appears to be fluctuating mortgage ⁢rates. July saw rates ‌creep upwards, starting at 6.67% for a 30-year fixed⁣ mortgage,⁣ peaking at 6.85% mid-month, and settling at 6.75% by month’s end (data via Mortgage News Daily). Fortunately, rates have since eased, currently sitting at 6.51%‌ in August, but the July volatility likely impacted buyer confidence.

“even with⁢ modest improvements in mortgage rates, housing affordability, and inventory,‌ buyers still ⁢remain hesitant,” explained Lawrence Yun, NAR’s chief economist.”Buying a home is often the most expensive purchase people will make in their lives. This means that going under contract is not a decision homebuyers​ make quickly.”

Cancellations Spike, Reflecting Buyer Uncertainty

Beyond declining sales, a concerning trend emerged: a notable increase⁢ in contract cancellations. Real ​estate brokerage‍ Redfin ⁤reported that ‍15% of pending sales were canceled in July – the highest rate recorded​ as the company began tracking this metric in 2017. ​

The areas ​experiencing⁢ the highest cancellation rates were concentrated in the Sun Belt, ‌with San Antonio (22.7%), Fort Lauderdale⁤ (21.3%), and tampa (19.5%) leading the way. ⁤Redfin agents attributed the cancellations primarily to⁤ buyers experiencing “cold feet,” a sentiment likely tied to broader economic anxieties.

Further reinforcing this​ picture, a recent NAR survey revealed that only 16% of Realtors anticipate an increase in buyer traffic over the next three months.

Regional Variations and a ‘Cruel summer’ for the Market

The July slowdown wasn’t uniform across the country. Sales declined month-over-month in the Northeast and Midwest, remained flat in the South, and saw a modest increase in the West.

“It’s

September 14, 2025 0 comments
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World

Mortgage Rates Fall, Homebuyer Demand Drops – September 2025

by Priya Shah – Business Editor September 14, 2025
written by Priya Shah – Business Editor

Mortgage Demand Dips Despite Falling Rates

Mortgage request volume experienced a slight decline last week,‌ despite a drop in ⁤interest rates, continuing a recent trend of sluggish demand. According to the Mortgage Bankers Association (MBA), ⁢total mortgage application volume fell 1.2% for the week ending September 3, 2025, compared to the previous week.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances (loans of $806,500 or less) decreased to⁢ 6.64% from ⁤6.69%. Points also ​decreased slightly, moving ⁤to 0.59 from ‍0.60, including⁢ origination fees, ⁤for loans with a 20% down‍ payment.‍ This represents the lowest rate seen since April 2025.

While refinance​ applications saw a ‍modest 1% increase for the week -‌ and are 20% higher ‍than the same ⁣week in ​2024‍ – purchase applications decreased by 3%. Purchase applications ⁢remain 17% higher than the same week last year, indicating continued, though now slowing, buyer⁢ interest.

The MBA notes that potential homebuyers now have a greater selection of properties available compared to this ⁣time last year, but are facing higher⁢ prices nationally, creating an affordability challenge.

Joel Kan, deputy chief economist ⁤at the MBA, explained that the refinance increase was largely driven by activity in FHA and VA loans. “The ‌FHA rate is averaging about 30 basis points lower​ than the conventional rate in 2025, wich has made⁣ those loans relatively ‍more appealing to​ eligible borrowers,” he stated. He also noted ⁣that purchase activity “pulled back…as slower homebuying activity led to declines in applications across the various loan types.”

Mortgage rates began the current⁤ week slightly higher following ⁢activity in the European bond market. Key economic reports scheduled for release this week, including the monthly employment report on Friday, are expected to potentially influence mortgage rate movement.

September 14, 2025 0 comments
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World

Ram 1500 Electric Pickup: Stellantis Cancels Development

by Priya Shah – Business Editor September 14, 2025
written by Priya Shah – Business Editor

Ram Cancels All-Electric ⁣1500⁣ Pickup Truck Amid Softening EV Demand

DETROIT – Ram has ⁤canceled its advancement of a fully electric⁢ 1500 pickup truck,⁢ citing slowing⁣ demand for‌ electric vehicles in North America, Stellantis announced Friday. The decision marks the latest shift in strategy for the⁤ automaker as it navigates a changing EV landscape.

The ⁢company spokesperson stated, “As demand for full-size battery electric⁤ trucks slows in North America, ‌Stellantis is reassessing its product strategy and will ⁢discontinue development of a full-size BEV ‌pickup.”‌

This cancellation ⁣follows two previous delays ⁣for ⁣the truck, originally slated for release by⁣ the end of⁣ 2024. Ram ⁢will, however, proceed⁢ with ⁢the launch of an extended-range electric truck,​ now rebranded as the⁢ “ram‍ 1500 REV,”‌ equipped with both an electric generator and ⁢a ​gas engine. The REV is still expected to debut next year. It​ was previously ⁢named “Ramcharger.”

The move comes​ as ⁣Ram CEO Tim Kuniskis ⁤spearheads⁤ a turnaround effort for the brand after returning to stellantis late last year. New Stellantis CEO Antonio Filosa has also signaled ‍a shift in⁣ direction, pledging to prioritize ⁣”profitable growth” and make “tough decisions.”

The broader automotive industry has experienced slower-than-anticipated EV adoption. Contributing factors include the potential‍ rollback of EV incentives by the Trump administration, including the cancellation of tax ​credits for EV purchases, and a shift in consumer ‌preferences.

September 14, 2025 0 comments
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World

Fast-Food Breakfasts Losing Ground to Convenience Stores

by Priya Shah – Business Editor September 13, 2025
written by Priya Shah – Business Editor

Convenience Stores‍ Steal Breakfast Share From Fast-Food Giants

September 13, 2024 – Convenience stores are increasingly becoming⁤ a go-to destination for breakfast, siphoning customers away from traditional fast-food ‍chains like McDonald’s and Dunkin’, according to ‌recent data ⁤and industry analysis. While ‍making breakfast at home remains​ teh most economical option, ​c-stores are winning⁢ over consumers with convenience, variety, and increasingly, food quality.

Data from Indagari, a transaction data analytics firm, reveals that McDonald’s and Dunkin’ have experienced a combined 3.5% decline in their customer base over⁢ the past year. This shift coincides with⁢ a growing trend of consumers opting for made-to-order breakfast options at ​convenience ⁢stores.

A ⁢recent InTouch Insight survey for CNBC found that 1,170 respondents indicated they had purchased made-to-order breakfast from a c-store ​within the last three months. Notably, 48% of those respondents stated they were choosing‌ the c-store option instead of a visit to a fast-food restaurant.

“Buying coffee and breakfast from a c-store likely won’t be cheaper than making it at home. But consumers perceive it as ‘good bang for their buck,'” explained Sarah Beckett, vice ‌president of sales and marketing for InTouch Insight.⁤

Beyond price ⁣perception, c-stores offer⁢ a broader range ​of choices than many fast-food competitors. In addition to coffee,they ⁣typically stock energy drinks,protein shakes,yogurt‌ smoothies,granola bars,and fruit -⁤ providing options to complement breakfast sandwiches.

However, experts emphasize that food quality ‍is⁣ the ultimate deciding factor. “While [a] convenience store broadly does have some tailwind from being a ‌lower price point, the ultimate differentiator, ⁢and what’s really going to set apart the winners from losers, is that quality aspect of it,” said Circana’s Portalatin.

Casey’s General ‌Stores, the ⁤third-largest c-store chain in the U.S., exemplifies this trend. The ⁣Iowa-based chain, which also claims to be the fifth-largest pizza concept by location count, ⁢reported same-store sales growth of 5.6% for prepared food and dispensed beverages for the three ‌months ended July 31.

Its⁣ breakfast pizza, a staple since 2001 featuring cheese, scrambled eggs, ​and a choice of bacon,⁣ sausage, or vegetables, has cultivated a dedicated following.

“I think Casey’s is kind ​of a unique ​thing,”⁢ said Brady Caviness, a 33-year-old account executive from Minneapolis, who favors Casey’s breakfast pizza when⁤ traveling.‍ “My ⁢whole life, I’ve had the Egg McMuffins.”

The rise of convenience store breakfast highlights a‍ changing ‌landscape in the fast-service restaurant industry, where convenience and variety​ are increasingly valued alongside price and⁢ tradition.

September 13, 2025 0 comments
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World

How Multifamily Offices Are Investing in Commercial Real Estate

by Priya Shah – Business Editor September 12, 2025
written by Priya Shah – Business Editor

Realm CEO on Navigating the CRE Landscape with a Family Office Approach

Travis King, CEO of Realm, ⁢a firm‍ working ⁢with ultra-high-net-worth families, shared insights into the current commercial real estate⁣ (CRE)​ market and Realm’s investment strategy in a recent interview. King emphasized‍ the ⁣unique position family ⁤offices hold in⁣ navigating the complexities ‌of the market, leveraging ‍scale and a long-term investment horizon.

A unique‍ Perspective Through Scale and Diversification

King ‌highlighted the​ advantage Realm possesses ⁣due to its⁤ broad ‍reach. “Continues to⁤ be a very true adage,” he stated, referring to the⁣ importance of‌ diverse perspectives.⁣ “What we ‌find is that we’re unique in that ⁣we move across property type and across geography.” Realm manages collectively north of $12 ⁢billion in investable⁣ assets for ⁢the families it serves, granting access to a notable volume of deal flow across various sectors.

He ⁤stressed ⁣the⁢ importance of understanding both macro‌ and micro-cycles within real estate. “You don’t want ​to swim against​ the tide. You also ‍don’t want to, ⁣you know, try to fight the cycle. But there’s ⁤micro-cycles ‌that happen in different geographies ⁢and ⁤within ⁢different property types, so that’s a key thing to⁢ consider.”

Office as an Chance

When asked⁤ about his⁢ favorite CRE sector, King‌ pointed to office properties. He believes pricing in‍ many areas has begun to bottom‍ out.”If you⁢ look at this point in time, what we think is engaging, you’ll start with office,” he explained. ⁢He described ​a ⁢shift ⁣in investment evaluation, moving beyond‍ simply seeking lower prices to recognizing intrinsic value. “It really gets down to saying, ‘we know ​it’s cheap. It’s ​intrinsically cheap.’ In some cases, we’re buying things at 15% of replacement cost.” He ⁣cited a current ‌investment opportunity in⁢ northern California as an example.

Avoiding Broad Categorizations & Focusing on the Lower Middle Market

King outlined a strategy of avoiding broad sector bets, recognizing cyclicality.‌ “What I try to stay away from are broad categories,right?‍ Say,for example,like,well R&D or ⁢industrial⁤ is going to be‌ over. These things cycle, ‍and there’s going to be‍ different points ⁤in time.”

He acknowledged the current sentiment⁢ surrounding data centers, noting concerns about over-investment. Though, Realm’s focus on the​ “lower ⁤middle market” – deals of $50 million and below – keeps them somewhat distanced from this⁤ sector. “We especially ⁣were, we’re not really‍ in data centers in a large way,⁤ as we focus on that lower⁤ middle market,” King⁤ said. “If ​you look‌ at the big boys that have got tens of billions of dollars in their fund⁤ to be⁢ able to ‍invest,⁤ there’s a lot of dollars required to do the infrastructure in the data center. We really focus on,kind ‌of $50 million deals and below,as we feel like we’ve got an edge there.” He ‍conceded that many⁤ investors are pursuing data centers, but⁣ it’s outside Realm’s current ⁢investment scope, and he agrees with⁢ the assessment that the sector may be late in⁤ its cycle.

impact of Potential Interest Rate Cuts

King anticipates⁤ that decreasing interest rates would broadly benefit the real estate market. “I would​ say reducing interest rates helps real estate⁣ in most every‌ regard,” he stated. ⁤”I ‍think first and foremost, it’s going to help transaction volume. I think​ it just provides a wind to the sails⁣ of transactions, and it raises the value of all real⁢ estate.”

September 12, 2025 0 comments
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