Wednesday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Wednesday’s business headlines with Jane King.
Banks making it harder to get a home loan
Mortgage rates are soaring and credit availability is the lowest it’s been in over nine years.
The rate on the popular 30-year fixed-rate mortgage is over 7%.
Lenders are concerned a weaker economy can lead to a rise in mortgage delinquencies, so they are being more cautious in loaning money for home loans.
TikTok looks into opening warehouses
Tiktok looks to be copying Amazon’s playbook and appears to be considering a new logistics and warehousing network in the United States to support its e-commerce efforts, according to several job openings recently posted to its hiring site and LinkedIn page.
Like other social networks, TikTok has expanded into e-commerce to add revenue opportunities.
New Labor Department proposal reclassifies gig workers
The U.S. Department of Labor released a proposal Tuesday that could make it possible for gig workers to be reclassified as employees, rather than contractors.
The proposed rule sent stocks of gig companies like DoorDash, Lyft, and Uber tumbling.
The companies have argued that flexible schedules are attractive to workers.
Wheat closes at highest price since June
Wheat closed at the highest price since June as traders considered a worsening Russia-Ukraine war.
The intensifying conflict calls into question whether the two sides will agree to extend a Ukraine grain-export deal that’s set to expire in about a month. The warring nations are critically important suppliers of wheat and other crops worldwide.
Study: Pandemic turned everyone into jerks
More than two years into the coronavirus pandemic, the world just feels all-around grumpier.
New research published in the journal PLOS One finds that the personalities of Americans have, in fact, changed, and become more unpleasant. We’re more argumentative, less diligent in our home and work lives, less likely to strike up a conversation with a stranger or call an old friend, and less excited about new things.