Business Highlights: Falling home sales, Russian coffee
___
US home sales fell in July; some buyers see silver lining
LOS ANGELES (AP) — The housing market’s comedown from its high-flying days early this year is deepening, with home sales in July falling for the sixth straight month. Sharply higher mortgage rates, surging inflation and prices that remain near all-time highs are making homes less affordable. The National Association of Realtors said Thursday that sales fell 20.2% from July last year, reaching the slowest pace since May 2020, near the start of the pandemic. But the slowdown has begun to tip the homebuying equation, if ever so slightly, in favor of house hunters who can afford to stay in the market and away from sellers.
___
Fewer Americans file for jobless benefits last week
WASHINGTON (AP) — Slightly fewer Americans filed for unemployment benefits last week as the labor market continues to be the strongest segment of the U.S. economy. Applications for jobless aid for the week ending August 13 fell by 2,000 to 250,000, the Labor Department reported Thursday. Last week’s number, which raised some eyebrows, was revised down by 10,000. The four-week average for claims, which evens out some of the week-to-week volatility, fell by 2,750 to 246,750. Unemployment applications generally reflect layoffs and are often seen as an early indicator of where the job market is headed.
___
Disqualified for disabilities, railroad workers fight back
OMAHA, Neb. (AP) — Union Pacific has already lost three lawsuits over the way it removes employees with health conditions because of safety concerns, and the prospect of hundreds more lawsuits looms over the railroad. The lawsuits were originally going to be part of a class-action case before a federal appeals court decided the cases must be pursued individually. The first few...