South County Mail

Missouri and the World

Economy

Why mortgage rates remain stubbornly high despite Federal Reserve rate cuts

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Many Americans hoping for relief in the housing market are still waiting.

Despite a series of Federal Reserve interest-rate cuts in 2024 and 2025, mortgage rates remain elevated, frustrating homebuyers, homeowners looking to refinance, and anyone hoping for a more affordable path into the housing market.

According to data released by Freddie Mac on June 4, the average rate on a 30-year fixed mortgage stood at 6.48 percent. While that is slightly below some recent peaks, it remains well above the levels many buyers became accustomed to during the pandemic years. [Read more…] about Why mortgage rates remain stubbornly high despite Federal Reserve rate cuts

More older Americans are staying in work – and facing criticism for it

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Americans are working later into life than previous generations, driven by a mix of financial pressures, longer life expectancy and changing ideas about retirement.

But new research suggests older workers increasingly face a contradictory cultural message: stay active and productive as you age – but also know when to “step aside.”

An analysis published by The Conversation argues that modern retirement has become far more emotionally and economically complicated than it once was. [Read more…] about More older Americans are staying in work – and facing criticism for it

Hotel workers say AI scheduling apps are making stressful jobs even harder

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Artificial intelligence is beginning to reshape hotel work across America – not by replacing housekeepers with robots, but by turning many workers into what some describe as “human extensions” of workplace software.

According to reporting published by Proof News, hotel housekeepers in cities including Las Vegas and Palm Springs say management apps designed to improve efficiency are increasing stress, reducing autonomy and making already demanding jobs even harder.

The software, called HotSOS Housekeeping, is now widely used across major global hotel brands. [Read more…] about Hotel workers say AI scheduling apps are making stressful jobs even harder

Is the AI boom becoming another economic bubble?

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Warnings are growing that the rapid expansion of artificial intelligence could be creating a financial bubble similar to previous technology manias – but some analysts argue the problem runs deeper than overheated stock prices.

According to an opinion article published by Analyst News, the current AI investment surge reflects broader problems within modern capitalism and the way technology research is funded and commercialized.

The article argues that speculative investment has become central to how new technologies are developed, with companies often valued more on future promises than current profits. [Read more…] about Is the AI boom becoming another economic bubble?

Americans increasingly oppose AI data centers as environmental concerns grow

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Massive data centers built to power artificial intelligence are facing growing opposition across the United States, with new polling showing strong public resistance – especially among women.

According to a recent Gallup survey, more than two-thirds of Americans oppose the construction of large data center complexes in their communities, as reported by The 19th. [Read more…] about Americans increasingly oppose AI data centers as environmental concerns grow

Missouri marijuana giant faces second antitrust lawsuit over alleged market control

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Missouri’s largest marijuana company is facing another antitrust lawsuit accusing it of using a network of affiliated companies to dominate the state’s cannabis market and drive up prices for consumers.

According to reporting by Missouri Independent, a Kansas City consumer recently filed a class-action lawsuit against Good Day Farm and more than 40 affiliated limited liability companies.

The lawsuit alleges the company used a complex structure of business entities to gain control over a large share of Missouri’s recreational marijuana industry while limiting competition from other brands and retailers. [Read more…] about Missouri marijuana giant faces second antitrust lawsuit over alleged market control

Americas oil boom challenges Middle East dominance as global energy markets shift

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One of the more surprising consequences of the Iran war has been the resilience of global oil supplies, despite disruption around the Strait of Hormuz – the world’s most important oil shipping chokepoint.

While many analysts initially feared far more severe shortages and price spikes, growing oil production across North and South America has helped stabilize global markets and highlighted a broader shift taking place within the energy industry.

According to analysis published by The Conversation, countries including the United States, Brazil, Canada, Guyana and Argentina are rapidly increasing production and exports, helping offset supply disruptions from the Middle East. [Read more…] about Americas oil boom challenges Middle East dominance as global energy markets shift

Missouri voters could decide whether to eliminate the state income tax

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Missouri voters may soon decide one of the biggest tax policy questions the state has faced in decades: whether to gradually eliminate the state income tax and potentially replace much of the lost revenue with expanded sales taxes.

The proposal, approved by the Missouri Legislature this year, would phase out Missouri’s top individual income tax rate over time if certain state revenue targets are met.

Supporters say the plan could make Missouri more competitive economically, while critics warn it could increase costs for ordinary families and reduce funding for public services. [Read more…] about Missouri voters could decide whether to eliminate the state income tax

Oil companies earning billions from Iran war as fuel prices rise worldwide

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The war involving Iran is generating enormous profits for some of the world’s largest oil and gas companies, even as consumers and businesses face rising fuel and energy costs.

According to an analysis by environmental organization Global Witness using data from energy research firm Rystad Energy, the world’s 100 largest oil and gas companies earned an estimated $23 billion in additional profits during the first month of the conflict alone.

The report estimates that if oil prices remain elevated throughout 2026, those extra profits could rise to as much as $234 billion by the end of the year. [Read more…] about Oil companies earning billions from Iran war as fuel prices rise worldwide

Missouri marijuana workers win union vote after two-year legal battle

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Workers at a marijuana cultivation and manufacturing facility in south St. Louis, Missouri have officially voted to unionize after a two-year dispute over whether they were legally eligible for federal labor protections.

Employees at the Sinse cannabis facility, owned by BeLeaf Medical, won the union vote 11-3 after sealed ballots were finally opened Friday following a ruling by the National Labor Relations Board.

The vote marks a significant labor development within Missouri’s growing marijuana industry, where workers and employers have increasingly clashed over working conditions, representation and labor rights. [Read more…] about Missouri marijuana workers win union vote after two-year legal battle