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Discoms’ poor financial health poses risks for power traders: Fitch

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NEW DELHI: The poor financial health of state electricity boards could pose significant business risks for power traders in the country, says rating agency Fitch.

In a report released today, Fitch Ratings said the credit risk of power traders has become “riskier” due to profitability and liquidity constraints faced by state power utilities.

“If these utilities are having liquidity problems which are leading to delays or defaults in their obligation to power traders, then this in turn increases the business risk for power traders,” it noted.

This could lead investors in power trading companies to either seek higher return on the investments or seek alternate avenues for investment.

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Leading power traders include PTC India and Tata Power Trading Company.


Going by estimates, over the past four years, the top five trading licensees have controlled over 80 per cent of the market in terms of volumes.
Some of the large loss making state power utilities come from the states for Tamil Nadu, Uttar Pradesh, Madhya Pradesh. These are also largest buyers of short-term electricity through power traders, Fitch Ratings said.”The financial health of state power utilities, the major customers of power traders, has deteriorated with aggregate annual book losses widening to Rs 295 billion (Rs 29,500 crore) in FY 10 from Rs 70 billion (Rs 7,000 crore) in FY 06, leading to an increase in counterparty risk,” the report said.

As per Planning Commission‘s estimates, electricity distribution losses totalled a whopping Rs 70,000 crore in 2010-11.

According to Fitch, the biggest short-term buyers — SPUs in Tamil Nadu and Rajasthan — face huge energy deficits with largest cash losses on a revenue and subsidy-realised basis.

“Hence, these states will remain net-buyers on short-term power markets and continue to act as major counterparties for power traders. This increases the risk for undiversified power traders significantly,” it added.

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The report pointed out that traders with strong equity base and high cash balance are better placed since they have the buffer to absorb any increase in the working capital cycle in the event of delays or defaults by SPUs.

Director in Fitch’s Asia Pacific Utilities team Salil Garg said the agency expects larger traders to face low business risk due to many factors, including economies of scale and diversified customer base.

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A Future Leader in Education and Service

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A Future Leader in Education and Service

Leadership does not always start in a boardroom. Sometimes it starts in a classroom. Sometimes it starts on a construction site in rural West Virginia.

For Schuyler Tansey, it started early in New York City.

Born and raised in midtown Manhattan, Schuyler grew up surrounded by energy, culture, and opportunity. Today, she is a sophomore at Xavier University in Cincinnati, Ohio, majoring in elementary education. Her focus is clear: serve, teach, and build strong communities through education.

Her path has not been linear. It has been intentional.

Early Life in New York City

Schuyler attended Loyola School in New York City. While there, she was part of the Mock Trial Cheering Squad — a small but spirited group that supported classmates during competitions.

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Growing up in Manhattan exposed her to a wide range of people and perspectives. That diversity shaped her interest in service.

Her early experiences built confidence and curiosity. They also planted the seeds for her career choice.

Why Did Schuyler Tansey Choose Elementary Education?

After high school, Schuyler enrolled at Tulane University. Over time, she realized she wanted to pursue elementary education — a program Tulane did not offer. She made a difficult decision to transfer.

“I had to be honest with myself,” she says. “If I wanted to teach, I needed to be in the right program.”

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She transferred to Xavier University in Cincinnati, Ohio, where she is now a sophomore majoring in elementary education.

That shift reflects a leadership trait often overlooked: course correction.

Her academic focus centers on building strong foundational skills for children. Research consistently shows that early childhood education impacts long-term academic performance, income potential, and community stability.

Schuyler understands that.

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“Elementary school is where everything begins.”

Global Perspective Through Study Abroad

Schuyler also attended Richmond University in London for a semester abroad. Studying overseas expanded her understanding of global education systems.

“It reminded me that education is both local and global.”

Community Service as a Core Commitment

Outside of academics, Schuyler’s resume reflects deep involvement in service.

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She volunteered in Mingo County, West Virginia, helping build for people in need. She worked at the Romero Center in Camden, New Jersey. She has served at St. James Church in New York and participated in the Ines tutoring program at her time at the Loyola School.

These are not short-term activities. They are ongoing commitments.

Housing insecurity remains a challenge in many parts of the United States. Service projects like these expose volunteers to economic realities beyond their own communities.

“Service takes you out of your bubble,” she says. “It teaches humility.”

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At the Romero Center and other organizations, she worked directly with cleaning up and beautifying the community.

How Service Shapes Her Leadership Style

Schuyler views teaching as more than lesson plans and grading.

“Kids notice when you’re present,” she says. “They notice when you care.”

Her volunteer work has strengthened her patience and listening skills. Those are practical leadership tools in a classroom.

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Research shows that strong teacher-student relationships improve attendance and academic outcomes. Schuyler sees that as common sense.

“If a child must feel cared for and is treated properly, to learn better,” she says.

She believes service prepares future educators for real-world classrooms.

A Career Still in Progress

Schuyler is still a full-time student. Her career is in development. But her direction is clear.

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Education remains one of the most important sectors in society. Teachers influence workforce readiness, civic engagement, and community health. According to national education data, teacher shortages persist in many regions, especially in early childhood education.

Her leadership does not come from title or tenure. It comes from action. From transferring schools to pursue the right major. From building homes in West Virginia. From tutoring younger students.

Success, for her, is about making the world better, even if it is one community at a time.

“I want to be the kind of teacher students remember,” she says.

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Schuyler Tansey represents a new generation of educators who blend academic focus with community service. Her career is just beginning. But her foundation is strong.

And in education, foundation is everything.

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Rivian renegotiates DOE loan down to $4.5 billion, adjusts capacity plans for Georgia plant

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Rivian renegotiates DOE loan down to $4.5 billion, adjusts capacity plans for Georgia plant
Watch CNBC's full interview with Rivian CEO RJ Scaringe on the company's Q1 results

Rivian Automotive on Thursday said it has renegotiated a $6.57 billion loan from the U.S. Department of Energy down to $4.5 billion and is adjusting its production expectations at an under-construction plant in Georgia.

The DOE loan was previously set to support two phases of production for a total of 400,000 units annually. The amended loan covers one phase of production with a total capacity of 300,000 vehicles, the company said Thursday.

The changes enable Rivian to draw on the loan sooner and have greater initial production but lowers its total production capacity for the plant amid uncertain demand for all-electric vehicles.

The initial loan terms were negotiated under the Biden administration. It had been in limbo under the Trump administration, which has taken action to cut or reduce such loans and has pulled back government investments to promote EVs.

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Rivian said it plans to tap into the loan in 2027, a year ahead of previously scheduled. The automaker also said production of the company’s upcoming R2 electric vehicle is on track to begin at the facility in late 2028, following its recent start to production at its current facility in Normal, Illinois.

Rivian CEO RJ Scaringe on Thursday told CNBC’s Phil LeBeau that any future expansion of the Georgia plant would be funded by the company, which has been raising capital through partnerships with companies such as Volkswagen and Uber.

The EV maker announced the new loan details in connection with its first-quarter results, which included a net loss of $416 million, or 33 cents per share, down from a loss of $541 million, or 48 cents per share, a year ago. Those per-share results were not comparable to Wall Street expectations.

Rivian’s revenue for the quarter was $1.38 billion, up from $1.24 billion a year earlier and slightly ahead of the $1.36 billion expected by analysts, according to LSEG.

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The company’s gross profit, which is closely watched by investors, was $119 million — down $87 million during the first quarter compared with a year earlier. That included a $62 million loss for its automotive segment and a $181 million profit for its software and services division.

The decline in automotive profit was primarily due to a $100 million slump in sales of automotive regulatory credits and lower production volumes, Rivian said.

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How Southeast Asia Can Safeguard Nature While Unlocking $2 Trillion Annually

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How Southeast Asia Can Safeguard Nature While Unlocking $2 Trillion Annually

Investing in Southeast Asia’s biodiversity offers immense economic and environmental rewards, according to scientists. They estimate that preserving and restoring natural ecosystems in the region could generate over $2.19 trillion annually.

This significant economic windfall would be accompanied by crucial benefits for climate change mitigation. Protecting forests, wetlands, and coral reefs not only safeguards countless species but also enhances carbon sequestration, reduces the impact of extreme weather events, and supports sustainable livelihoods. This highlights biodiversity as a powerful and cost-effective solution for both development and climate resilience in Southeast Asia.

Overview
A study by the Academy of Sciences Malaysia (ASM) asserts that Southeast Asia could generate up to $2.19 trillion annually by investing in the protection of its biodiversity and natural infrastructure. While the region’s ecosystems face unprecedented threats from habitat loss and extinction, the research demonstrates that conservation is not merely an environmental imperative but a significant economic opportunity. By prioritizing nature-positive initiatives, Southeast Asian nations can create jobs, boost local incomes, and establish the region as a global model for sustainable development.

Key Points

  • Economic Potential: Investing an initial $10 billion, scaling to $46 billion by 2030, could yield annual economic benefits exceeding $2.19 trillion through job creation and socio-economic growth.
  • Proven Success Models: Projects like Cambodia’s Keo Seima Wildlife Sanctuary and Malaysia’s Tun Mustapha marine park illustrate that conservation efforts can simultaneously reduce deforestation and over-fishing while increasing local incomes and food security.
  • Urgency of Action: The report emphasizes that biodiversity conservation must move beyond being viewed as a “nice to have” and be integrated into national economic strategies to mitigate the risks associated with environmental collapse.
  • Need for Granular Strategy: Experts, such as Dr. Teckwyn Lim, suggest that to make these findings actionable, further research is required to develop country-specific strategies that account for the diverse socio-economic landscapes across the region.

While the regional potential is significant, experts suggest that a country-specific approach is necessary to account for the diverse economic and environmental landscapes of individual nations. This tailored strategy allows policymakers to design initiatives that align with local priorities, address unique challenges, and leverage specific opportunities. By doing so, nations can maximize the benefits of development while minimizing potential risks and ensuring sustainable growth.

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Trump again criticizes Germany’s Merz, tells him to stop interfering over Iran

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Trump again criticizes Germany’s Merz, tells him to stop interfering over Iran


Trump again criticizes Germany’s Merz, tells him to stop interfering over Iran

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Best Mobile Proxies for Social Media Automation (Reddit, Instagram, TikTok)

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More than 6 billion people are now online, and social media has officially become a “supermajority” medium, according to the new Digital 2026 report from Meltwater and We Are Social.

Running automation on Reddit, Instagram, or TikTok often works at the beginning, then starts to break without a clear reason. Accounts get flagged, sessions reset, or reach drops even when actions stay the same.

In most cases, the issue is not the automation tool. It is the network layer behind it. When multiple accounts share IPs, switch locations too often, or run on low-quality proxies, platforms detect the pattern and limit activity.

Mobile proxies for social media automation solve this by placing each account on a real mobile network. These IPs come from carrier connections, which match how normal users behave online. This makes sessions more stable and reduces the chance of accounts getting linked. The key is not just using a proxy, but using the right type with consistent sessions and clean IPs. Once that is in place, automation becomes predictable instead of fragile.

TL;DR

  • Mobile proxies use real carrier IPs, which are trusted by social platforms
  • Assign one mobile IP per account to avoid linking signals
  • Keep sessions stable instead of rotating IPs too often
  • Use clean IPs to reduce bans, shadowbans, and verification checks
  • If accounts get flagged, fix IP quality and session consistency first

How to choose the best mobile proxy for managing multiple accounts

Choosing mobile proxies for managing multiple accounts is not about finding the largest pool or the lowest price. It comes down to stability, IP quality, and control over how sessions behave. If accounts keep getting flagged or logged out, the issue is usually the proxy setup. A good mobile proxy should give you real carrier IPs, let you keep sessions consistent, and avoid mixing your traffic with other users. This is where solutions like CyberYozh stand out, because they focus on controlled usage with real mobile LTE/5G networks, instead of just providing access to IPs.

When evaluating a provider, focus on what actually affects account stability:

  • Real mobile LTE/5G IPs from carrier networks, not emulated traffic
  • Ability to assign one IP per account for clear separation
  • Sticky sessions to keep accounts stable over time
  • Controlled rotation instead of random IP switching
  • Simple setup that works for both technical users and social media managers

If these basics are in place, managing multiple accounts becomes predictable. If not, even the best automation tools will keep failing.

App CyberYozh: Mobile proxies for stable social media automation

Social media automation starts to break when accounts lose consistency. You see it when sessions reset, verification requests increase, or reach drops without any clear change in activity. In most cases, the issue is not the tool but the network and environment behind each account. Platforms like Reddit, Instagram, and TikTok expect stable behavior, and when IPs or sessions change too often, accounts become easy to flag. CyberYozh is built to keep that stability in place. With real mobile LTE/5G proxies, you can assign one IP per account and keep sessions consistent over time. It also includes built-in API access and integrates directly with tools like Playwright, Selenium, Puppeteer, Scrapy, and Postman, so automation workflows stay aligned with the network setup. Combined with fingerprinting options and support for antidetect browsers, it helps keep browser, device, and IP signals consistent. The setup is straightforward, which makes it a good fit for both social media managers and technical teams, while still being cost-effective for small projects and scalable for larger operations.

Key features

  • Real mobile LTE/5G proxies from carrier networks
  • One IP per account for clear separation
  • Sticky sessions to maintain long-term stability
  • Controlled IP rotation when needed
  • 50M+ clean IPs across 100+ countries
  • Built-in API for automation workflows
  • Integration with Playwright, Selenium, Puppeteer, Scrapy, and Postman
  • Fingerprinting options with OS and browser control
  • Works with antidetect browsers for account management
  • Easy setup suitable for both non-technical and technical users

CyberYozh Pricing

  • Mobile proxies from around $1.7 per day with unlimited traffic
  • Residential rotating proxies starting from around $0.9 per GB
  • Residential static proxies starting from around $5.29 per month
  • Datacenter proxies starting from around $1.9 per month

IPRoyal

IPRoyal is often used for smaller-scale scraping and account management setups where users need access to residential IPs without a complex system. It provides standard proxy functionality with global coverage, which can work for simple automation or testing environments. However, as workflows grow or require more control over sessions and stability, the limitations of the setup become more visible.

For managing multiple accounts, the platform may require more manual configuration compared to tools that offer built-in session control or integrated workflows. This makes it less practical for non-technical users or social media managers who need a setup that works without constant adjustments. It can still be used effectively, but it often requires more effort to maintain stable sessions and avoid overlaps.

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IPRoyal features

  • Residential proxy network with global coverage
  • Supports HTTP and SOCKS connections
  • Access to rotating and sticky sessions, though session control is limited
  • Basic dashboard and API access, but requires manual setup for advanced workflows
  • IP quality can vary depending on usage, which may affect long-term account stability

IPRoyal pricing

  • Residential proxies start from around $1.75 per GB
  • Mobile proxies start from around $4.00 per GB
  • ISP proxies start from around $2.00 per proxy
  • Datacenter proxies start from around $1.39 per proxy

Decodo

Decodo is typically used by users who want a simple proxy setup without going too deep into configuration. It offers residential proxies with a user-friendly dashboard, which makes it easier to get started compared to more technical platforms. This can work for basic scraping or managing a limited number of accounts.

However, when workflows become more complex or require strict session control, the platform can feel limited. It is less suited for advanced automation or large-scale multi-account setups, especially where consistency and long-term stability are critical. Social media managers may find it easy to start with, but scaling usually requires additional tools or adjustments.

Decodo features

  • Residential proxy network with global coverage
  • Simple dashboard designed for ease of use
  • Supports HTTP and SOCKS connections
  • Basic session control with limited customization options
  • Suitable for small to mid-level tasks, but less effective for large-scale automation

Decodo pricing

  • 3 GB – $3.75/GB → Total: $11.25 + VAT billed monthly
  • 10 GB – $3.5/GB → Total: $35 + VAT billed monthly
  • 25 GB (Popular) – $3.25/GB → Total: $81.25 + VAT billed monthly
  • 50 GB – $3.0/GB → Total: $150 + VAT billed monthly
  • 100 GB – $2.75/GB → Total: $275 + VAT billed monthly

Conclusion

Mobile proxies are not just a technical add-on for automation. They are the foundation that keeps accounts stable over time. When IPs overlap or sessions change too often, platforms detect the pattern and accounts start to fail. The difference between unstable and stable setups usually comes down to IP quality, session control, and how well each account is separated.

If the goal is to manage multiple accounts across Reddit, Instagram, or TikTok, the setup needs to stay consistent. Real mobile IPs, one IP per account, and controlled sessions are what make automation work without constant fixes. Tools like CyberYozh simplify this by combining mobile proxies, automation support, and fingerprint alignment in one place, making it easier to scale without breaking your setup.

FAQs

What are mobile proxies for social media automation?

Mobile proxies route traffic through real carrier networks, making accounts appear as normal mobile users. This helps reduce detection and keeps sessions more stable.

Why do accounts get banned even when using proxies?

Most bans happen when accounts share IPs, rotate too often, or run in the same environment. Proxies alone are not enough. The setup must stay consistent.

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Are mobile proxies better than residential proxies?

Mobile proxies are usually more reliable for long-term social media accounts because they come from real carrier networks. Residential proxies work well for moderate usage.

How many accounts can you run with mobile proxies?

There is no fixed number. It depends on how well each account is separated. One IP per account and stable sessions allow better scaling.

Do you need a separate proxy for each account?

Yes. Each account should have its own IP to avoid linking signals. Sharing IPs is one of the main causes of bans.

What is the best setup for TikTok automation?

The best setup includes real mobile IPs, stable sessions, and separate environments per account. Using a TikTok proxy with consistent sessions helps reduce verification issues and account flags.

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Which proxy provider is easier to use for beginners?

Some providers require more manual setup, especially for automation workflows. CyberYozh is often easier to start with because it combines proxies, API access, and environment control in one setup, making it suitable for both non-technical users and advanced teams.

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Belden: Investors Have Some Questions On The Ruckus Deal (NYSE:BDC)

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Belden: Investors Have Some Questions On The Ruckus Deal (NYSE:BDC)

This article was written by

The Value Investor has a Master of Science with specialization in financial markets and a decade of experience tracking companies via catalytic company events. As the leader of the investing group Value In Corporate Events they provide members with opportunities to capitalize on IPOs, mergers & acquisitions, earnings reports and changes in corporate capital allocation. Coverage includes 10 major events a month with an eye towards finding the best opportunities. Learn more.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Channel 9 to Axes 20 Jobs in Major Restructure as Staff Brace for More Cuts Across Network

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SYDNEY — Channel 9 will eliminate up to 20 positions in its television news and current affairs division in the first wave of redundancies, with staff warned that further job losses are likely as the network undergoes a significant operational overhaul.

Channel 9 to Axes 20 Jobs in Major Restructure as
Channel 9 to Axes 20 Jobs in Major Restructure as Staff Brace for More Cuts Across Network

The cuts, confirmed internally on Thursday, primarily target roles in Sydney and Canberra newsrooms and will affect every position in the division as part of a broader restructure. Management has described the changes as a move to streamline operations and adapt to evolving media consumption patterns rather than pure cost-cutting, though unions and staff have expressed deep concern about the impact on journalistic quality and workloads.

The announcement comes just months after Nine Entertainment implemented earlier redundancies, including around 50 roles in late 2025 as part of a $100 million efficiency drive across broadcast and streaming divisions. Thursday’s move signals that the transformation of Australia’s largest commercial television network is far from over.

Insiders told news.com.au that all roles in news and current affairs are under review, with consultations already underway. Affected staff have been invited to apply for newly created or restructured positions, but the process has left many feeling anxious about job security in an industry already battered by declining linear television audiences and rising digital competition.

Nine’s leadership maintains the changes will create a more agile and sustainable news operation capable of delivering high-quality content across multiple platforms, including 9Now, Stan and its digital outlets. However, the Media, Entertainment and Arts Alliance has criticised the timing and scale of the cuts, warning they could undermine the network’s ability to cover major stories and hold power to account.

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The redundancies hit at a challenging time for Australian media. Traditional broadcasters face shrinking advertising revenues as viewers shift to streaming services, short-form video and on-demand content. Nine has invested heavily in digital transformation while trying to maintain its flagship news programs such as Today, A Current Affair, 60 Minutes and evening bulletins.

Sources familiar with the restructure say the 20 positions include a mix of editorial, production and technical roles. Some duplication across Sydney headquarters and regional bureaus is being eliminated as the network centralises certain functions. Canberra’s parliamentary press gallery presence is understood to be among the areas under pressure, potentially reducing on-the-ground political coverage.

Staff meetings held Thursday morning delivered the news, with senior executives emphasising opportunities for redeployment and upskilling in digital storytelling, data journalism and multi-platform production. Despite these assurances, morale has plummeted, with employees describing a sense of “bloodbath” looming over newsrooms that have already endured multiple rounds of voluntary redundancies and attrition.

The cuts form part of a wider strategic reset at Nine Entertainment, which owns Channel 9, 9Gem, 9Life, radio stations including 2GB and 3AW, and major newspapers such as The Sydney Morning Herald, The Age and The Australian Financial Review. The company has been consolidating operations to compete with global streaming giants and digital-first news providers.

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Industry analysts say the redundancies reflect broader pressures facing legacy media companies. Linear television viewership continues to decline, particularly among younger audiences, forcing networks to do more with fewer resources. At the same time, expectations for 24/7 digital content and social media engagement have increased workloads for remaining staff.

Nine has not publicly detailed the financial savings expected from the latest cuts, but the move aligns with previous statements about removing duplication following the integration of broadcast and streaming operations under new leadership structures. Earlier efficiency drives targeted back-office, engineering and product roles, but Thursday’s focus on frontline news and current affairs marks a more visible shift.

For veteran journalists and producers, the news is particularly disheartening. Many have dedicated decades to Channel 9, covering everything from federal elections and natural disasters to major scandals and human interest stories. The potential loss of institutional knowledge worries some observers who fear reduced diversity of voices and shallower coverage of complex issues.

Union representatives have called for transparent consultation processes and fair redundancy packages. They argue that slashing newsroom resources ultimately harms viewers by limiting investigative journalism and local storytelling at a time when public trust in media is already under scrutiny.

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Nine’s competitors face similar challenges. Rival Network 7 and the public broadcasters ABC and SBS have also undertaken efficiency reviews and selective redundancies in recent years. The entire Australian media landscape is contracting as advertising dollars migrate online and consumer habits fragment across platforms.

Despite the job losses, Nine continues to invest in high-profile talent and programming. The network maintains strong ratings in key timeslots and has expanded its digital footprint aggressively. Executives insist the restructure will strengthen rather than weaken its news product by fostering innovation and cross-platform collaboration.

Staff have been advised to keep performing their roles while the consultation period unfolds over coming weeks. Voluntary redundancy expressions of interest may be sought in some areas, with compulsory redundancies possible if targets are not met. Exact details on which specific positions will disappear remain confidential for now.

The development has sparked wider discussion about the future of television news in Australia. As audiences increasingly consume content on mobile devices and demand instant updates, traditional newsroom structures built for evening bulletins and morning shows are being forced to evolve rapidly. Many fear this latest round represents another step toward leaner, less resourced news operations across the board.

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For the broader Nine Entertainment workforce, Thursday’s announcement serves as a stark reminder of ongoing industry volatility. While the company reports solid overall performance in some divisions, the pressure to adapt quickly to technological and economic shifts continues to reshape careers and news delivery.

As consultations begin and more details emerge, affected staff face uncertain futures. Some may find new roles within the organisation’s expanding digital and streaming arms, while others could exit the industry entirely amid a competitive job market for experienced journalists. The coming weeks will reveal the full human cost of Channel 9’s latest efficiency drive.

Nine has declined to comment publicly beyond internal communications, directing inquiries to its standard media statements on organisational reviews. The network emphasised its commitment to delivering quality journalism and entertaining content to Australian audiences despite the structural changes.

The redundancies arrive as Nine prepares for another ratings battle in 2026, with key programs under new leadership and formats evolving to capture fragmented audiences. Whether the leaner news operation can maintain its competitive edge while delivering the depth and breadth viewers expect remains to be seen.

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Apple sees ‘extraordinary’ iPhone demand as boss Tim Cook leaves

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Apple sees 'extraordinary' iPhone demand as boss Tim Cook leaves

Overall, sales of Apple products grew 17% to $111bn (£81bn) in the first three months of the year, compared to the same quarter a year ago, the company said in financial results released Thursday. Sales in China were up by 28% compared to a year ago.

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Mortgage rates rise to 6.3%: Freddie Mac

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Mortgage rates rise to 6.22%: Freddie Mac

Mortgage rates ticked slightly higher this week, mortgage buyer Freddie Mac said Thursday.

Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 6.3%, up from 6.23% last week. 

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The average rate on a 30-year loan was 6.76% at this time last year.

HOUSING MARKET GAINING MOMENTUM AS SPRING SEASON BEGINS

“As rates had modestly declined the last few weeks, purchase demand has accelerated with purchase applications rising to over 20% above a year ago,” said Sam Khater, Freddie Mac’s chief economist. “It is clear that purchase demand continues to hold up as prospective buyers react to both modestly lower rates and more inventory to choose from than the last few years,” Khater added.

HOUSING CRISIS HITS ALL AGES AS HOMEOWNERSHIP DECLINES NATIONWIDE

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An open house for a home.

Mortgage rates ticked slightly higher than a week ago. (Daniel Acker/Bloomberg via Getty Images)

The average rate on a 15-year fixed mortgage rose to 5.64%, up from 5.58% last week. The rate on 15-year fixed mortgages averaged 5.92% last year.

Mortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Though mortgage rates are not directly affected by the Fed’s interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield hovered around 4.37% as of Thursday afternoon.

The latest mortgage data follows the Federal Reserve’s decision on Wednesday to leave its benchmark federal funds rate unchanged at a target range of 3.5% to 3.75%.

AVERAGE MONTHLY MORTGAGE PAYMENT HITS NEW HIGH, TOPPING $2K FOR FIRST TIME EVER

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Geopolitical risk is influencing interest rates higher, economists say. (Daniel Acker/Bloomberg via Getty Images)

Realtor.com economist Jiayi Xu said that while the Federal Reserve “unsurprisingly held rates steady, the dissent among the voters raises further uncertainty of monetary policy ahead.”

“Despite key decisions and upcoming leadership transition for the Fed, geopolitics is likely to be the bigger driver of mortgage rates in the near term,” Xu explained. 

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“With the U.S.-Iran peace talks hitting an impasse this week, the 10-year treasury bond rose above 4.3% and passed the 4.4% threshold after the Fed left rates unchanged and expressed concerns about the overall uncertainty tied to Middle East tension,” Xu added.

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Police Raid Gold Coast Apartment of Former Premier Palaszczuk’s Partner in Ongoing Investigation

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Annastacia Palaszczuk

BURLEIGH HEADS, Australia — Queensland Police declared a crime scene and seized items from a luxury beachfront apartment owned by prominent weight-loss surgeon Dr. Vahid Reza Adib on Thursday, thrusting the long-term partner of former Queensland Premier Annastacia Palaszczuk into the spotlight of an active investigation.

Annastacia Palaszczuk
Annastacia Palaszczuk

Officers, including forensic specialists, arrived at the Norfolk building unit in Burleigh Heads around 11 a.m. and spent hours examining the property, removing evidence bags and inspecting areas including the balcony and barbecue. Witnesses described multiple police vehicles outside the high-end beachside complex as the search unfolded.

Police have not revealed the nature of the investigation, laid any charges or named any suspects. Authorities stressed that Palaszczuk herself is not believed to be involved and may have no knowledge of the raid. Dr. Adib, 59, was not present at the time of the search.

The development marks a dramatic turn for the couple, who have maintained a relatively private relationship since going public in 2021 while Palaszczuk was still premier. Adib, a respected bariatric surgeon, has faced previous scrutiny in professional settings, including an inquest into the death of a patient in 2022, but Thursday’s police action appears unrelated to those earlier matters.

Palaszczuk served as Queensland premier from 2015 until stepping down in 2023 after leading the state through the COVID-19 pandemic. She and Adib have been photographed together at public events, though both have largely stayed out of the media glare since her departure from politics.

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The raid has sent shockwaves through Queensland’s political and medical circles. Sources close to the former premier described her as blindsided by the events. Police have declined to provide further details, stating only that inquiries are continuing as part of an ongoing probe.

The luxury apartment, located in one of the Gold Coast’s desirable beachside enclaves, offers sweeping ocean views and is part of a premium development popular with high-net-worth residents. Forensic teams were seen methodically working through the property, a sign that investigators are treating the location as significant to their case.

Dr. Adib is well-known in Queensland’s medical community for his work in obesity surgery. He operates clinics specializing in weight-loss procedures and has built a reputation for treating complex cases. The surgeon maintains a low public profile despite his high-profile relationship.

News of the search spread rapidly on Thursday, sparking intense speculation on social media and among political observers. Some drew connections to past controversies involving medical practitioners, while others noted the timing amid broader scrutiny of high-profile figures. Authorities have urged caution against unfounded rumors.

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Queensland Police issued a brief statement confirming the search but provided no timeline for when more information might be released. “No further information is available at this time,” a spokesperson said, emphasizing the active status of the investigation.

The incident highlights the intense public interest that follows former political leaders and their families even after they leave office. Palaszczuk’s tenure as premier was marked by strong public approval during the pandemic but also criticism over certain policies. Her personal life has occasionally drawn media attention, though she has generally kept it separate from her professional role.

Legal experts note that searches of this nature often relate to serious matters such as fraud, misconduct or other criminal allegations, though without official confirmation, all possibilities remain open. The declaration of a crime scene suggests investigators found reason to treat the property with heightened forensic protocols.

Neighbors expressed surprise at the heavy police presence in the normally quiet, upscale building. One resident told reporters that officers were professional and methodical, spending several hours inside before departing with seized materials. The crime scene designation means the unit remains under police control for the immediate future.

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Palaszczuk has not issued a public statement on Thursday’s events. Her office and representatives for Dr. Adib have not responded to requests for comment. The former premier maintains a low profile since leaving politics, occasionally appearing at community events or offering commentary on state issues.

The raid comes against a backdrop of ongoing challenges for Queensland’s health sector, where surgeons and specialists face increasing regulatory oversight. Adib’s professional history includes participation in coronial inquests, but those matters concluded without criminal findings against him.

Political analysts say the situation could prove awkward for the current Queensland Labor government, which succeeded Palaszczuk’s administration. Opposition figures may seek to question any perceived links, though police have been careful to separate the investigation from political matters.

As details slowly emerge, the public and media will watch closely for any charges or further developments. High-profile investigations involving partners of former leaders inevitably attract intense scrutiny, raising questions about privacy, due process and the lingering public interest in political figures’ private lives.

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For now, the focus remains on the Burleigh Heads apartment, where forensic work continues. Queensland Police have appealed for anyone with relevant information to come forward while urging restraint in speculation that could compromise the investigation.

The story has dominated headlines across Australian media outlets on Thursday, with live updates and helicopter footage capturing police activity at the beachfront location. It serves as a reminder that even after leaving public office, the lives of former leaders and those close to them can suddenly intersect with law enforcement in unexpected ways.

As inquiries progress, authorities maintain their silence on specifics, leaving many questions unanswered. Dr. Adib’s professional standing, the couple’s relationship and the precise nature of the police interest will likely become clearer in coming days or weeks as the investigation unfolds.

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