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US existing home sales retreat more than expected in March
US existing home sales retreat more than expected in March
Economy
by  AFP

Sales of existing US homes pulled back more than expected in March, according to industry data released Thursday, as mortgage rates remained high and weighed on affordability for homebuyers. "Home buying and selling remained sluggish in March due to the affordability challenges associated with high mortgage rates," said NAR chief economist Lawrence Yun in a statement.

Warning lights flash at Nissan after monster profit warning
Warning lights flash at Nissan after monster profit warning
Economy
by  AFP

The road ahead looks treacherous for Nissan after the Japanese auto giant predicted an enormous loss just as US President Donald Trump's tariffs on car imports hit the industry. In any case, given the unpredictability of Trump's policies, analysts said it was unlikely that Nissan -- or any Japanese automaker -- would announce any major shift for now.