Rise in US home prices cooling as interest rates ratchet up - August 2, 2022

The rising costs of homes cooled in June due largely to rising interest rates, according to real estate analytics company Black Knight. The variance between supply and demand left price gains in a favorable position, although overall home prices are not expected to fall nationally. The firm noted that demand has dropped due to economic circumstances on many buyers’ minds. Renters are likely to experience persistently high rents as landlords kept prices up overall, with many tenants left unsure whether braving the prices or trying to purchase a home is the better financial choice. More than 50 beverage products were recalled over fears of bacterial contamination, according to manufacturer Lyon Magnus. Products including Oatly, Stumptown Coffee and Premier Protein were listed among the beverages that may have been contaminated, but no reports of illnesses or complaints have surfaced yet. The announcement closely followed the recall of Banana Boat sunscreen products by Edgewell Personal Care due to traces of a carcinogenic substance. Recalls can damage company reputations and lead to lawsuits, with Neutrogena and Revive Superfoods targeted by legal action recently. Despite the threat posed by legal repercussions, large companies tend to easily weather recall challenges compared to small businesses. Starbucks Workers United requested the coffee company extend wage hikes and expanded benefits originally announced for nonunionized stores to unionized workers without engaging in the usual bargaining process. The company responded to the union’s request by stating that the law prohibits it from expanding benefits or wages without engaging in bargaining. Labor lawyers said the disagreement may have to be arbitrated by the National Labor Relations Board with the dispute framed by a significant increase in union activity within the last year, according to the agency. A number of workers involved with the cryptocurrency platform Forsage were charged by the U.S. Securities and Exchange Commission for attempting to defraud