Business News

Oil Rockets Up

Our local neighborhood is the world, as we live in the era of globalization.  Overseas markets bring in more advertising revenue than the U.S. for Facebook , amounting to 51% of global ad sales in the first quarter, with growth in Asia the fastest in the world. (Reuters)

We are clearly in the era of the nanny state with ever increasing regulation. San Francisco has become the first city to require a health warning label on soda ads. Meanwhile, New York City could become the first city to require a warning label on salty menu items. (AP)

Interest rates' sharp jump to their highest level this year caused a sudden surge in mortgage applications. There's a reason: Fear that rates will move even higher.  Refinance volume increased 7% new purchase jumped 10% last week. New purchase volume is now 15% higher than one year ago, but refinance volume is off nearly 5%. (Mortgage Banker Association)

It may cost more and be harder to travel lean soon. Airlines are considering whether to copy Lufthansa's move to impose a surcharge on tickets booked via third-party systems.  And there is a new push from the international trade group for airlines to shrink the size of the bags allowed as carry-ons. (NBC News/ Reuters)

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