Author: Money Mechanics

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. October 09, 2025 Welcoming Remarks Chair Jerome H. Powell At the Community Bank Conference, Federal Reserve Board, Washington, D.C. (via pre-recorded video) Accessible Keys for Video [Space Bar] toggles play/pause; [Right/Left Arrows] seeks the video forwards and back (5 sec ); [Up/Down Arrows] increase/decrease volume; [M] toggles mute on/off; [F] toggles fullscreen on/off (Except IE 11); The [Tab] key may be used in combination with the [Enter/Return] key to navigate and activate control buttons, such…

Would-be condo buyers are spooked by high costs, including rising HOA dues and insurance fees–but the silver lining is bargaining power. The gap between sellers and buyers has shrunk since springtime, though, when there were 81% more sellers.  There were an estimated 72.3% more condo sellers than buyers (108,945 more) nationwide in August. That marks the fifth straight month in which there have been at least 70% more condo sellers than buyers in the U.S. housing market.  That makes spring and summer 2025 the strongest buyer’s market for condo buyers in records dating back to 2013, with the exception of…

Maria Diaz/ZDNETFollow ZDNET: Add us as a preferred source on Google.ZDNET’s key takeawaysOnly 23% of shoppers bought gifts during October Prime Day.Meanwhile, 28% of shoppers said they purchased everyday items.The most popular products purchased by ZDNET readers were inexpensive tech devices. Shoppers used this week’s Prime Big Deal Days sale, which ran from Oct. 7-8, to stock up on sale items and purchase everyday goods instead of big holiday gift purchases, according to a new tracking survey of over 5,000 October Prime Day shoppers conducted by data company Numerator.Also: The best October Prime Day deals still liveIn September, Amazon said the Prime Big…

(Oil Price)– China has formalized a barter-style framework with Iran in which crude oil is exchanged for infrastructure projects (from rail lines and ports to industrial works) rather than cash. The volumes involved are substantial: Beijing already imports an estimated 1.4 to 1.6 million barrels per day of Iranian crude, much of it under disguised labels. The new structure secures long-term supply while insulating both sides from dollar clearing and direct sanctions exposure. This arrangement does not fall outside U.S. sanctions law. It remains a purchase of Iranian crude under Executive Order 13846, regardless of how payment is made. Whether…

By Prakhar Srivastava (Reuters) -Corporate travel and expense company Navan said on Friday it is targeting a valuation of up to $6.45 billion in its U.S. initial public offering, below the level it reached in a 2022 funding round, as it pushes ahead with listing plans despite the U.S. government shutdown. The Palo Alto, California-based firm plans to raise about $960 million by offering 36.92 million shares priced between $24 and $26 apiece. Its shares are expected to begin trading on the Nasdaq under the “NAVN” ticker symbol. The offering comes amid a rebound in U.S. IPO activity, driven by…

Donald Trump said yesterday that gasoline prices will be “below two dollars at some point in the pretty near future” and has a ceasefire between Israel and Hamas to back it up. While President Trump did not win the Nobel Peace prize because he only resolved 6 or 7 conflicts and hopefully secured the release of maybe 20 Israeli hostages, his actions have helped with his goal to lower oil prices. Fox News said the ceasefire agreement between Israel and Hamas went into effect at 12:00 PM Eastern Time marking the end of a brutal war that has gone on…

At the Hannover Re investor day this week Executive Board Member Silke Sehm explained that the establishment of Hannover Re Capital Partners unit is seen as a new sidecar business opportunity, that will help the reinsurance firm write more property catastrophe risk and earn additional fee income.We reported on the coming launch of Hannover Re Capital Partners (HCP) back in August, explaining that it marks the reinsurance firms first venture into the ILS investment management arena. At the Monte Carlo Rendez-Vous in September, Sehm had also explained that the reinsurer was already having positive conversations with investors about the new…

Thomas Barwick | Digitalvision | Getty ImagesIt’s no secret that many young adults are having a hard time financially, especially when it comes to affording a home purchase. Weddings may be exacerbating the problem for some.The typical monthly rent, which captures rent prices for multi- and single-family rentals, was $2,007 in August, up 2.4% from a year prior, according to Zillow. A separate recent report by the housing site found that attending just one wedding and a bachelor or bachelorette weekend can cost $2,010.”It really is eye-opening when you put it right next to rent,” said Amanda Pendleton, the home trends…

Thinking Machines Lab, the AI startup led by former OpenAI CTO Mira Murati, has lost one of its co-founders to Meta. The Wall Street Journal reports that AI researcher Andrew Tulloch announced his departure to employees in a message on Friday. A Thinking Machine Labs spokesperson confirmed Tulloch’s departure to the WSJ, saying he “has decided to pursue a different path for personal reasons.” Back in August, the WSJ reported that Mark Zuckerberg’s aggressive AI recruiting blitz included an offer to acquire Thinking Machines Lab — and when that failed, Zuckerberg reportedly tried to lure Tulloch with a compensation package…

Mortgage execs advise lenders to embrace technology or risk falling behind Lenders were urged to embrace technology and adapt to a changing mortgage market at HousingWire‘s 2025 Mortgage Banking Summit. Experts warn that failing to evolve could mean being left behind as new technologies like AI and blockchain drive industry transformation.  Zillow, ChatGPT launch app integration Consumers can now search for properties on Zillow via ChatGPT. Access to Zillow’s app is available in ChatGPT — making Zillow the only real estate app available directly through the ChatGPT platform. Douglas Elliman launches AI assistant app Douglas Elliman introduced Elli AI, an…