Charlotte News
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Rising bond yields are typically indicators of stronger economic growth and higher profits for banks. That might not be the case this time, as a 30-year bull market in U.S. government debt shows signs of coming to an end.
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The current-account deficit in the U.S. widened in the first quarter, aided by a jump in imports.
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National Public Finance Guarantee Corp., the bond insurer fighting the biggest U.S. pension fund in two California municipal bankruptcies, must find a new law firm to represent it in San Bernardino’s case, a judge ruled.
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Retail sales in the U.S. probably increased in May by the most in three months as Americans took advantage of cheap borrowing costs to purchase new cars, economists said before a report today.
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The $1.2 trillion of mortgage-backed securities the Federal Reserve has amassed to stoke economic growth is creating a potential firewall that dealers say is shielding the bond market from a rapid decline as policy makers debate scaling back debt purchases.
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The nominations of Penny Pritzker for Commerce secretary and Anthony Foxx as Transportation secretary advanced to the full U.S. Senate, bypassing the political fights that have stymied other high-level appointments.
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Negotiations that led to an $8.5 billion mortgage-bond settlement between Bank of America Corp. and institutional investors were tense and combative, the bank’s chief risk officer testified.
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The U.S.’s AA+ credit rating outlook was increased to stable from negative by Standard & Poor’s, based on receding fiscal risks, less than two years after the company stripped the world’s largest economy of its top ranking.
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Edison International’s decision to abandon its San Onofre nuclear plant in California is the latest blow for an industry already facing questions about its long- term survival.
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Owners of almost a third of all U.S. nuclear reactors, including Exelon Corp. and Entergy Corp., were ordered to upgrade the units in the next four years to guard against pressure-induced explosions.
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Charlotte Real Estate
In Charlotte, 42 percent of the population rents and the remaining 58 percent are homeowners. And in the past year the Charlotte real estate market has seen an 3.7 percent increase in value, with a median sales price of $202,600, according to Zillow.
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