U.S. mortgage interest rates reach 6.25%, highest level since October 2008

The average interest rate on the most popular U.S. home loan climbed to its highest level since October 2008, Mortgage Bankers Association (MBA) data showed on Wednesday. Rising mortgage rates are increasingly weighing on the interest-rate-sensitive housing sector as the Federal Reserve pushes on with aggressively lifting borrowing costs in order to tame high inflation. […]

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Valero, Marathon top beneficiaries of U.S. emergency oil releases

Oil refiners Valero Energy Corp (VLO.N) and Marathon Petroleum Corp (MPC.N) are the biggest beneficiaries of the U.S. government’s oil reserve releases, taking nearly half the crude offered, a Reuters analysis of Department of Energy data showed on Wednesday. The Biden administration has opened spigots at the nation’s Strategic Petroleum Reserve (SPR) to lower fuel […]

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Samsung Elec’s Lee says SoftBank’s Son expected to visit Seoul when asked about Arm-media

Samsung Electronics (005930.KS) Vice chairman Jay Y. Lee said on Wednesday that SoftBank Group Corp (9984.T) CEO Masayoshi Son is expected to visit Seoul next month when asked about British chip designer Arm Ltd, multiple South Korean media reported. Son may “make a proposal,” South Korean wire service News1 reported citing Lee, without elaborating. Lee […]

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