Tuesday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Tuesday’s business headlines with Jane King.
Redfin: 15% of home sales canceled in June
Americans are canceling deals to buy homes at the highest rate since the start of the coronavirus pandemic.
Redfin says the share of sale agreements on existing homes canceled in June was just under 15% of all homes that went under contract.
Higher mortgage rates and inflation are the main reasons for home purchase cancellations.
Cruise Sheet: Cruise prices at $100/day for a stateroom
There are nearly 2,000 cruises that cost under $100 a day for an interior stateroom through the end of the year, including 53 sailings that cost less than $50 a day, according to data from Cruise Sheet.
However, flying to major ports can still be expensive, and vaccine and testing mandates remain in place for most cruise lines, making it more difficult for companies to fill staterooms.
Apple’s self-driving cars experiencing navigation issues
Apple’s self-driving cars had trouble navigating streets, frequently bumped into curbs, and veered out of lanes in the middle of intersections during test drives.
In a test in Montana, the Apple self-driving car seemingly performed well, but navigating city streets near the company’s California headquarters was a struggle.
Apple’s self-driving car would differ from those being developed by rivals such as Google-backed Waymo, General Motors’ Cruise, and Amazon’s Zoox since it would have no steering wheel or pedals.
Twitter shares drop after Musk announcement
Twitter shares lost 11% after Elon Musk’s attorney notified Twitter’s board that he wants to cancel the deal.
Analysts are split on if Musk will still buy Twitter at a lower price or if Twitter will go it alone.
Amazon Prime Day sales begin
It’s Amazon Prime Day, but some shoppers want to support other businesses.
Best Buy has a “Black Friday in July” sale, Target has “Deal Days,” and Bed Bath and Beyond is offering 50% off many items.
Amazon expects sales to be down this year due to inflation.