Archive For The “Uncategorized” Category

Gambling industry hopes bet on Trump will pay off

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ATLANTIC CITY, N.J. — Donald Trump will be the first U.S. president to have ever owned a casino, and the gambling industry is wondering how he will handle three major issues: internet gambling, sports betting and daily fantasy sports. The industry has sent its wish list to the president-elect. The American Gaming Association told The…

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Where Washington’s opportunity is growing — and stalled

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Since 2011, Opportunity Nation, an alliance of business and nonprofit organizations, and the Social Science Research Council’s Measure of America have produced indexes on 16 measures of social, educational and economic well-being for the nation and the states. In the latest report, Washington rated an opportunity score of 55.5, above the national 54.0. The scale…

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Existing US home sales reach highest since February 2007

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WASHINGTON (AP) — Americans bought homes in November in the fastest pace in nearly a decade. But rising mortgage rates, a deepening shortage of houses and higher prices are likely to weigh on the market next year. The National Association of Realtors said Wednesday that sales of existing homes rose 0.7 percent last month to…

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Seattle shocker: Market forces can work

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Earlier this month, a report from Apartment Insights Washingtonshowed that rents have peaked and begun to come down in some of the hottest parts of the metropolitan area. For example, rents downtown are 2.8 percent lower than the previous quarter and down 3.5 percent in the University District. Don’t expect Seattle to turn into Mesa,…

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Long-term US mortgage rates hit highest levels since 2014

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WASHINGTON (AP) — Long-term US mortgage rates climbed again this week, hitting the highest levels since 2014. Mortgage giant Freddie Mac said Thursday that the rate on 30-year fixed-rate loans jumped to an average 4.30 percent from 4.16 percent last week and the highest since April 2014. The average for a 15-year mortgage rose to…

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Consumer spending growth weakened in November

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WASHINGTON (AP) — Consumers slowed the growth in their spending in November and income growth was flat, two worrisome signs at the start of the holiday shopping season. Consumer spending rose 0.2 percent in November, the weakest showing since a 0.1 percent rise in August, the Commerce Department reported Thursday. Spending had posted healthy gains…

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Deutsche Bank to settle U.S. mortgage probe for $7.2 billion

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Deutsche Bank AG said it reached a $7.2 billion agreement to resolve a years-long U.S. investigation into its dealings in mortgage-backed securities, removing a legal hurdle that fueled investor angst. Deutsche Bank will pay a $3.1 billion civil penalty and provide $4.1 billion in relief to consumers under a settlement in principle with U.S. authorities,…

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Italy rescues Monte dei Paschi after it fails to get cash

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ROME (AP) — The Italian government stepped in Friday to rescue Monte dei Paschi di Siena after Italy’s third-largest lender failed to raise the 5 billion euros ($5.2 billion) it needed to stay afloat. The government passed the decree early Friday, saying it was 100 percent guaranteeing the bank’s retail customers with part of a…

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Politics podcast: Washington eyes Trump’s China tough talk and Hamilton electors flame out, on The Overcast

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  First, President-elect Donald Trump jumped on the phone with Taiwan’s president, rattling Beijing. Then China swiped an American drone from international waters. This week, Trump named the author of the book “Death by China” his director of trade and industrial policy. What’s all that mean for Washington? We’re the country’s most trade-dependent state and…

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AI’s future a mix of opportunities, risks

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If you’ve used Google Translate for a while, you’ve noticed that it’s gotten better, much better. This the result of a revolutionary leap in artificial intelligence (AI) developed by the company’s Google Brain skunk works. It was the subject of a very long article in The New York Times Magazine last Sunday, but this is…

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