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An “Open House” sign outside a home in Palm Beach Gardens, Florida, US, on Sunday, Jan. 11, 2026. Zak Bennett | Bloomberg | Getty ImagesStagnant mortgage rates, falling housing supply and ongoing economic uncertainty weighed heavily on homebuyers in December. Pending home sales, a measure of signed contracts on existing homes, dropped 9.3% last month from November, according to the National Association of Realtors. Analysts were expecting a slight gain. Sales were 3% lower than December 2024.”The housing sector is not out of the woods yet,” said Lawrence Yun, chief economist for the Realtors. “After several months of encouraging signs…

President Donald Trump on Wednesday urged U.S. lawmakers to pass legislation to limit credit card rates to 10%, following his social media post this month ordering banks to voluntarily lower their rates.”I’m asking Congress to cap credit card interest rates at 10% for one year, and this will help millions of Americans save for a home,” Trump said from the World Economic Forum in Davos, Switzerland.”They charge Americans interest rates of 28%, 30%, 31%, 32%,” Trump said. “Whatever happened to usury?”Shares of banks climbed after the comments. The KBW Bank Index rose 2.2% in morning trading. Capital One, which relies…

Jamie Dimon, CEO of JPMorgan Chase, speaks at the American Business Forum at the Kaseya Center in Miami on Nov. 6, 2025.Chandan Khanna | AFP | Getty ImagesJPMorgan Chase CEO Jamie Dimon on Wednesday advocated for a test of President Donald Trump’s proposed 10% cap on credit card interest rates in two U.S. states: Vermont and Massachusetts.Dimon, speaking on a panel at the World Economic Forum at Davos, Switzerland, addressed a question about Trump’s order for banks to voluntarily limit their interest rates for a year. The president had called for the lower rates to take effect Jan. 20.Several large…

Fed Chair Jerome Powell speaks with Lisa Cook, a member of the Board of Governors of the Federal Reserve, during a meeting in Washington on June 25. President Trump’s desire to fire Cook for cause is at the center of Wednesday’s Supreme Court argument — an argument that could have major consequences for financial markets and the broader economy. Saul Loeb/AFP via Getty Images hide caption toggle caption Saul Loeb/AFP via Getty Images The U.S. Supreme Court hears arguments Wednesday in a case that has Wall Street and the financial markets in a near panic. At issue are President Trump’s…

2026-01-21T06:51:29.311Z Share Copy link Email Facebook WhatsApp X LinkedIn Bluesky Threads lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. The World Economic Forum in Davos, Switzerland, attracts powerful leaders in politics, tech, and business. Attendees were spotted in designer parkas and luxury bags throughout the week’s events. They sported handmade gloves, monochromatic looks, and fur trims. There’s far more to Davos fashion than the iconic blue beanie and…

President Donald Trump signed an executive order on Tuesday seeking to limit large Wall Street investors from buying single-family homes, as part of his push to make essentials more affordable for Americans.The order details a multi-pronged plan targeting large investors. It includes measures that would restrict institutional investors from buying homes that individuals could purchase, combat speculation in the single-family housing market, and conduct antitrust reviews of acquisitions.The order comes with an important exception: build-to-rent properties that were designed and constructed as rental communities. The order also says there may be other “narrowly tailored exceptions.”Per the order, the Treasury Department…

Coca-Cola’s CEO said the drinks company is looking at one viral health trend this year.Speaking with CNBC at the World Economic Forum in Davos, Switzerland, CEO James Quincey said fiber might be the next big thing for Coca-Cola.”So you’ve got a lot of focus on refreshment and a lot of focus on protein, and people are definitely seeing more protein,” Quincey said. “We might see fiber creep in this year.”He said fiber can be put into anything because it’s soluble in beverages. He gave the example of the Diet Coke Fiber+ drink from Coca-Cola, which has been available in Japan…

Tariff price hikes are starting to show up in your Amazon shopping cart.The CEO of Amazon, Andy Jassy, told CNBC in an interview with reporter Becky Quick at the World Economic Forum in Davos that vendors are running out of stockpiled goods imported ahead of Trump’s tariffs, and that consumers will be “starting to see more of that impact.””So you start to see some of the tariffs creep into some of the prices, some of the items,” said Jassy, “And you see some sellers are deciding that they’re passing on those higher costs to consumers in the form of higher…

Adios to casual dating: Young Americans are seeking committed life partners to split bills with.Quincy Yang, the co-CEO of dating app Coffee Meets Bagel, told Business Insider that money and economics are huge considerations for Gen Z when choosing a partner.”It’s so hard to afford to buy a house, or any property,” Yang said, adding that a lot of younger people are staying at home with their parents. He said for older generations, it was more affordable to “live the American dream” of buying a home and starting a family.”Now, you need dual incomes to afford just the median condo or…

Friends … followers … where is the line?Instagram is testing out new tweaks that emphasize friends. It also has a new definition of friends: People who mutually follow each other.The Instagram test involves changing a user’s “following” count on a profile to a “friends” count. That means if you follow thousands of people, but maybe only a few hundred of those people follow you back, that’ll show up as your “friends” count.For those of you who care about those precious follower-to-following ratios, get ready for a potentially even more telling public ratio: How many of those Instagram followers are friends?Instagram…