Business

As the US housing market continues to suffer from high mortgage rates, both buyers and sellers are increasingly turning to mortgage rate buybacks. Mortgage rate buybacks can vary, but in a 2-1 rate buyback, a seller essentially pays an amount of money to lower the buyer’s rate by 2 percentage points in the first year and 1 percentage point in…

A top railroad CEO plans to tell Congress that he is “deeply sorry” for last month’s flaming train derailment on the Ohio-Pennsylvania border, during what is likely the first of a series of Senate hearings on railroad safety and the response of the Biden government is leading to catastrophe. The accident in Norfolk Southern didn’t hurt anyone, but state and…

A drug commonly used to treat asthma attacks is in short supply, increasing anxiety among patients who use it and the pharmacies and healthcare facilities that offer it. According to the US Food and Drug Administration, albuterol sulfate inhalant solution has been in short supply since last fall. A major manufacturer, Akorn, shut down in February, throwing a big wrench…

The maker of an unproven drug meant to prevent premature births says it will voluntarily remove the product from the US after regulators signaled plans to continue a long-delayed attempt to ban it from the market. The drug Makena is a synthetic version of the hormone progesterone, which is needed to maintain pregnancy. It is the only drug FDA approved…

OpenAI’s Sam Altman rose to fame after releasing ChatGPT late last year, but another area of ​​technology has also piqued his interest. The tech entrepreneur has invested $180 million in a company that aims to defy age and extend human lifespans. MIT Technology Review reported Wednesday. Retro Biosciences, a San Francisco-based biotech company, announced in April 2022 that it had…

The holding company of California-based Silvergate Bank announced on Wednesday that it would begin the process of going out of business and voluntarily liquidating the bank, ending a long descent for the crypto-focused company and weeks of speculation about its viability. With the rise of crypto and traditional banks’ reluctance to partner with the volatile sector, Silvergate had established itself…

Lynyrd Skynyrd guitarist Gary Rossington, who passed away on Sunday, made it big when rock ‘n’ roll was still a defining cultural force on par with today’s TikTok trends and superhero movies. The last surviving co-founder of the legendary band may also have been the last flagpole in what was once a powerful part of American music: southern rock. Or…

An $81 million yacht that authorities believe belongs to a Russian oligarch is about to be put up for bid. According to Antigua and Barbuda, the ship, named Alfa Nero, was abandoned in an Antigua port last February and belongs to sanctioned Russian oligarch Andrey Guryev. He denies he owns the boat, so authorities have issued a public notice giving…

A dream came true when Misa Chen was accepted into a leadership program at Harvard Business School after a lifelong battle with dyslexia. But her youngest son was only a year old and her daughter just four. Leaving her alone for more than a week to attend the sessions in person didn’t seem feasible, says Chen, CEO and co-founder of…

As more millennials become parents, they want to raise their kids with what they never had: financial security. These children are part of Gen Alpha, the post-Gen Z generation, which a new Morning Consult report defines as children aged nine or younger. The majority of the 2,000 Alpha Parents surveyed (70%) are Millennials. Morning Consult used cluster analysis to identify…