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Uber to Acquire Postmates for $2.65 Billion

After the chance to purchase one popular delivery service fell through for the company, Uber is on to the next. This week the ride-sharing company announced that it intends to acquire Postmates to further grow its own delivery offerings, including Uber Eats. The all-stock transaction is valued at approximately $2.65...

U.S. Unemployment Rate Retreats to 11.1% in June

Last month saw more Americans returning to work, even as the COVID-19 pandemic rolls on. According to the latest Bureau of Labor Statistics report, the United States economy reclaimed 4.8 million jobs in June. That's a notable increase from the 2.7 million added in May (adjusted from the original 2.5...

U.S. Consumer Spending Increased in May, Income Fell

With the United States still navigating unprecedented times due to the COVID-19 pandemic, a new report brings both good and bad news on the economic front. According to the latest figures from the Bureau of Economic Analysis, personal consumption expenditures (PCE) grew 8.2% in May to reach $994.5 billion.

Average Mortgage Rate Falls Below 3%

Those looking to buy a home or to refinance may encounter lower interest rates than they have before. According to Mortgage News Daily, the average rate for a 30-year fixed mortgage fell to just 2.97% last week. That marks a new record low as the economy continues to experience impacts...

U.S. Economy Regains 2.5 Million Jobs in May

Ever since the start of lockdown amid the coronavirus crisis in the United States, it was clear that the nation would be in for some rough jobs reports. Sure enough, the country has seen multiple record-breaking weeks of new jobless claims as well as a major spike to the unemployment...

Sales of Existing Homes Fall to Near 10-Year Low

During these interesting times, are you in the market for a house? If not, you certainly aren't alone. As CNN Business reports (and according to data from the National Association of Realtors), sales of existing homes dropped by 17.8% in April compared to the previous month. Similarly sales were down...

More Than 8% of U.S. Mortgages Now in Forbearance

With the United States economy still being pummeled by closures associated with the spread of COVID-19, many Americans are seeking financial relief. One potential option for homeowners who may be struggling is forbearance, which allows them to pause mortgage payments for up to 12 months. Now new data shows that...

Uber Reportedly Looking to Acquire Grubhub

During the current crisis, many businesses and verticals have seen their operations and sales directly impacted. The food delivery business has been no different, initially seeing a dip as shoppers stocked up on groceries but rebounding some as consumers looked to support their local eateries. All the while, companies like...