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Business News

Housing Starts and Student Loan Debt Jump


One mega deal is alive – another is dead.  Drug maker AstraZeneca has rejected Pfizer’s final $116 billion buyout offer. Pfizer says it will not go hostel.  AT&T is buying DirecTV for $48.5 billion or $95 a share.  Only one-third of DirecTV’s 70 million subscribers are already AT&T customers. (Barron’s)

Mickey Mouse is asking a lot more to visit the California Magic Kingdom.  A Disney Park Hopper pass is going up 9.5% to $150 and a one day/one park pass is going up 4.3% to $96 a day. (Buzz)

Tires prices are getting some downward price pressure as natural rubber supplies build on a four year surplus. Rubber prices have fallen 62% since the peak in 2011.  Big global suppliers of rubber include Thailand, Vietnam and Indonesia. (Bloomberg)

New housing starts surged 13% in April.  Leading the jump was a 43% increase in multi-family units.  Single family starts were up 1% for the month.  Home ownership stands at 64.8% and is below the 50-year average of 65.4%. (CNBC)

Along with their diploma the average college graduate in the class of 2014 will get a bill for $33,000 in student loans.  That makes this year’s class the most indebted ever. Over 70% of all graduates will have some student loan debt upon graduation, which is close to double what we saw just 20 years ago. (Wall Street Journal)


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