Home Real Estate The rate for a 30-year fixed mortgage in the US reached a 20-year high — Quartz Daily Brief — Quartz

The rate for a 30-year fixed mortgage in the US reached a 20-year high — Quartz Daily Brief — Quartz

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This is what you need to know

US mortgage rates hit a 20-year high. The rate on a 30-year fixed mortgage has exceeded 7.08% this week.

Amazon shares fell after reporting sluggish earnings and holiday sales prospects. However, slower growth in parts of the tech giant’s business like Amazon Web Services, has a positive side.

Top Twitter executives were reportedly fired. No official statement was made about the termination of the deal or a new leadership structureplus a tweet from Musk saying, “the bird has been released” (more below).

The US economy expanded in the third quarter. But the underlying factors GDP growth of 2.6% they are not robust enough to allay concerns about recession.

US business groups called for government intervention to prevent a rail strike. More than 300 trade associations wrote to President Joe Biden after a second rail union rejected a deal traded last month.

Same-sex marriage is already legal throughout Mexico. A state-based legalization wave which began in 2009 in Mexico City is now complete.

Worldwide tuberculosis cases increased in 2021. The WHO said it is the first time drug-resistant tuberculosis infections have increased in nearly two decades. climbing 3% year with year.

what to watch

It’s high tide for oil and gas company profits. Yesterday, Shell reported third quarter earnings for $9.45 billion weather TotalEnergies French Major aware $9.9 billion, both contributed more than double than in the same period last year. Exxon and Chevron are expected to report record earnings today.

But these happy days may soon pass. For the first time, the International Energy Agency said that the demand for fossil fuels should peak in the next decade or so. It’s a remarkably negative outlook for natural gas, the long-lived source of income for energy companies, which is feeling the effects of Russia’s war in Ukraine and pro-renewable energy policies like the Energy Reduction Law. US inflation

The IEA’s findings will no doubt surface at the UN climate summit in Egypt next month. Get event updates sent straight to your inbox with our Need to Know: COP27 pop-up newsletter. sign up today.

There is no “free-for-all hellscape” for you

Elon Musk has a disdain for content moderation and advertising, but on the verge of becoming the owner of Twitter, he’s beginning to realize that he’ll actually need both.

Musk has promised restore “freedom of expression” to Twitter, reducing its current focus on content moderation. But while the details of his policies have not been finalized, he promises it won’t be “everyone hell.”

It’s the closest approximation to an actual content moderation stance Musk has taken since he first flirted with the idea of ​​buying Twitter. But more so, he is realizing that he needs some degree of supervision on the platform to keep advertisers happy. No one wants their ads to be next to unsavory content, and they need advertisers to make money. And even if he didn’t buy Twitter to “make money,” there’s a limit to how much even Musk can lose.

What would you do with a four day work week?

If Musk had an extra day off work each week, would he find another social media company to do his pet project with, or would he fill it with pottery classes he’s been wanting to take? It is an unknown.

But for those who aren’t billionaire CEOs of multiple companies, the idea of ​​a four-day work week might mean running those errands a day early so you can make dinner plans with friends, or just kick back and recharge. Advocates of reducing traditional work hours know the benefits of this setup, but what are the downsides?

🎧 Find out in this week’s episode of Work Reconsidered: Apple Podcasts | Spotify | Google | stapler

✦ And while you’re at it, Sign up for a quartz membership (it’s 60% off!), which helps support our projects like The Memo, our weekly newsletter about the future of work.

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👀 The maximum use of fossil fuels has just appeared

😅 Rents in the US are finally set to decline

surprising discoveries

The bees count from left to right. It’s a trait they share with many humans, and possibly with all other animals.

The best nose picker in the world is a lemur. The long-fingered aye-aye, originally from Madagascar, is also he eats his mucus (a big no-no).

There are a certain number of burgers that you can eat without harming the planet. The World Resource Institute recommends a week two patties limitbut only if you don’t eat other meat.

Some reptiles form monogamous bonds for life. A lizard couple he has even reached 27 years and counting.

NASA officially convened a UFO panel. They will spend nine months discussing how to analyze recorded instances of “What the hell is that?”

Best wishes for a productive day. Send any news, comments, love for lizards and UFO sightings to [email protected]. Reader support makes Quartz available to everyone:become a member. Today’s Daily Recap was hosted by Tim McDonnell, Scott Nover, Sofia Lotto Persio, Julia Malleck and Morgan Haefner.

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