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Business News


Markets saw their largest down day in 3 weeks yesterday as the recent melt up took a day off. The S&P 500 has gone 39 trading days without a 1% daily change, the second longest streak in 15 years.   (WSJ)

The international Monetary Fund published data yesterday showing home prices are well above their averages in many countries. Australia, Belgium, Canada, Norway and Sweden were singled out as countries of concern.  For our neighbor to the north, Canada, house prices are 33% above average as compared to income and 87% above comparable rental rates.

For May US retail sales were up 0.3% and take out autos and gas the number is flat. That number is much weaker than expected. (Reuters)

A report by Cisco says traffic on the web will more than double in five years with most of it being used for online video.  Currently 78% of all band width is used for video.  That number will grow to 84% in five years. Currently 64% of all internet traffic is over Wi-Fi networks.

With low interest rates, Men’s Warehouse is borrowing $600 million to finance its takeover of Jos. A Banks.  In their first bond offering since 2004 the company sold 7 and 8 year notes for just a little over 2%. (Bloomberg)

 

Traffic & Weather

 

 

 

 

Jones Road, full road closure between Bennington Lane and NE Butler Market Road. May 18 – August 18, local access only.
 

 

Orion Drive closed in two locations for sewer work; at the intersection with Avery Lane and between Desert Woods Drive and King Hezekiah Way.  From July 11 to Sept. 6. Detours marked.

 

Valhalla Sewer Relocation Project, Mt. Washington Drive at Shevlin Park Road intersection and North to Regency Street. Nighttime closures with detours marked during roundabout construction. Daytime closures for construction towards Regency Street.    7 p.m. – 7 a.m., July 11 – November.

 
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