INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Jane King.
Interest rates slowing down U.S. home sales
U.S. home sales are cooling down. April sales were the slowest since beginning of pandemic boom.
But prices are still climbing. The median price for existing homes grew to $391,200.
U.S. rent hits record high in April
Rents in the U.S. just hit another record high.
The national median rent was $1,827 a month in April, up 16.7% from a year ago, according to a report from Realtor.com.
Indiana rents are up 13% compared with the same time last year, according to data from rental property hosting site Dwellsy.
Twitter adding warning labels for viral misinformation
Twitter will add warning label to tweets it deems ‘viral misinformation’.
Twitter will utilize a variety of suppression methods on “misleading” tweets, including removing posts from recommended content and keeping the tweets from being amplified via engagement.
The company claimed that the suppression tools will only be used in the case of a “humanitarian crisis”.
Kohl’s sales drop amid inflation
Kohl’s slashed its sales and profit targets.
The retailer says they’ve seen a sharp pullback in customer spending due to inflation.
A Kohl’s executive says customers’ wallets are being squeezed and so they’re coming into the store and they’re being a bit more mindful of the brands they are buying and what is going in their basket.
Samsung adds face customization to fridge
You could choose a favorite piece of artwork, a child’s doodles, or just put your own face on your own fridge for no good reason at all. Samsung is adding face customization options to its refrigerators.