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WASHINGTON — The number of Americans seeking unemployment benefits fell slightly last week to a still-high 840,000, evidence that job cuts remain elevated seven months into the pandemic recession. The latest sign of a flagging recovery comes two days after President Donald Trump cut off talks over a new rescue aid package that economists say is urgently needed for millions of unemployed Americans and struggling businesses. A failure to enact another round of government aid would crimp household income and spending, and some economists say it would raise the risk of a double-dip recession. 603

WASHINGTON — U.S. long-term mortgage rates fell this week, reaching record lows for the 13th time this year amid fresh signs of weakness in the pandemic-ravaged economy. Mortgage buyer Freddie Mac reported that the average rate on the 30-year benchmark loan declined to 2.72% from 2.84% last week. The average rate on the 15-year fixed-rate mortgage fell to 2.28% from 2.34%. The low rates in 2020 have spurred demand in the housing market. The National Associated of Realtors says housing offers for single-family homes have increased for six consecutive months. They are now at their highest level since 2007, according to the Census Bureau. Existing home sales in October 2020 were 26.6 percent higher than the number of sales in October 2019. The median sale price, nationwide, has also increased; it is now 3,000, roughly 16 percent more in 2020 than this time last year.The NAR has warned that the dwindling number of available housing units is down to only a few months supply. Fresh signs emerged this week that the resurgent coronavirus outbreak is likely slowing the economy and forcing more companies to cut jobs. The government reported that retail sales in the U.S. grew a sluggish 0.3% in October, even as retailers offered early holiday discounts online and in stores. 1294

WASHINGTON (AP) — Joe Biden says he has begun receiving intelligence briefings and warns that Russia, China and other adversaries are attempting to undermine the upcoming U.S. election in November.The presumptive Democratic presidential nominee wasn’t specific and offered no evidence while addressing a virtual fundraiser Friday.However, in the process, he confirmed receiving classified briefings after suggesting as recently as late last month that he wasn’t getting them.Biden received intelligence briefings while vice president but told reporters he wasn’t getting them as of June 30.Classified briefings are traditionally provided to major-party nominees once they win the primary, but Biden won’t formally become the nominee until the party’s convention next month. 781

WASHINGTON — Melania Trump has announced plans to renovate the White House Rose Garden — the outdoor space steps away from the Oval Office. President Donald Trump has been using the Rose Garden a lot more lately for statements and news conferences in the age of coronavirus. The First Lady says the renovation will make the garden more accessible to people with disabilities, and make improvements for audiovisual and broadcasting needs. It will also provide improve drainage and conditions for the plants and flowers. “The very act of planting a garden involves hard work and hope in the possibility of a bright future,” the First Lady said in a statement published to the White House website. “Preserving the history and beauty of the White House and its grounds is a testament to our nation’s commitment to the care of this landscape and our dedication to American ideals, safeguarding them for our children and their children for generations to come.”The Rose Garden was first installed in 1962 during the Kennedy Administration. Trump's plan will restore the Rose Garden to its original footprint and, as the White House said "restore its elegant symmetry."Since moving to the White House, Mrs. Trump has renovated the White House bowling alley, and refreshed the Red and Blue Rooms, among other projects. 1318

Walmart has agreed to buy India's leading online retailer Flipkart, paying billion for a controlling stake of 77%.Flipkart gives Walmart access to a market it has been trying to crack for years. Foreign investment regulations have thus far prevented the Arkansas-based retailer from opening stores in India, restricting it to operating 21 wholesale distribution outlets."India is one of the most attractive retail markets in the world, given its size and growth rate, and our investment is an opportunity to partner with the company that is leading transformation of e-commerce in the market," Walmart CEO Doug McMillon said in a statement.The deal is subject to regulatory approval.SoftBank CEO Masayoshi Son, whose company is one of Flipkart's biggest investors, let news of the deal slip earlier on Wednesday while presenting his company's earnings.SoftBank invested .5 billion in the Bangalore-based company last year. Son said that the sale to Walmart valued SoftBank's stake at billion.Many of Flipkart's other investors will retain stakes in the company, including co-founder Binny Bansal, Chinese tech giant Tencent and Microsoft, Walmart said in a statement. Walmart's interest in investing in the Bangalore-based firm was first reported in 2016, and a deal boosts its firepower in a battle with Amazon in the world's fastest growing major economy.Amazon has long considered India one of its most important overseas markets.Amazon CEO Jeff Bezos has committed to investing at least billion in his company's India business, saying in 2016 that he saw "huge potential" in the country. Amazon has introduced its Prime video and music services in India in its effort to challenge Flipkart, as well as its annual Prime Day blockbuster sale.Flipkart now has an even bigger war chest to fend off Amazon in an e-commerce market that Morgan Stanley estimates will be worth 0 billion by 2026. The Indian firm could also speed up its expansion into groceries, an area that has already pitted Amazon against Walmart in the United States.Amazon may have been trying to spoil Walmart's plans until the very last minute. Indian media reported in early May that it made a counteroffer to buy Flipkart.  2223