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Wall Street's latest trade war freakout didn't last long.Stocked plummeted early Wednesday after trade tensions escalated between China and the United States. China announced plans for a 25% tariff on billion a year worth of American exports, including plans, cars, soybeans and chemicals.The Dow opened down more than 500 points. But the market erased those losses by early afternoon. 397

WASHINGTON ¡ª 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 ¡ª The Supreme Court has agreed to review a court decision that the NCAA has said blurred ¡°the line between student-athletes and professionals.¡± A lower court ruling removed caps on education-related money that certain football and basketball players can receive. The case will be argued before the Supreme Court in 2021 with a decision expected before the end of June. The NCAA contends that antitrust law allows its member schools to impose certain restrictions, like on athlete compensation, in an effort to promote competitive equity and have a product for dans that is distinct from professional sports, according to USA Today. The NCAA claims a change to this arrangement would have larger implications on professional level sports leagues. An appeals court panel in May upheld a lower court ruling barring the NCAA from capping education-related compensation and benefits for student-athletes in Division I football and basketball programs. Such benefits could include cash payments for academic performance. The lower court's ruling said the NCAA could still set limits on compensation not connected to education. The association has revealed proposed rule changes that would allow athletes to make money from their names, images and likeness. Those proposed changes are set to be voted on in January. Division I conferences can still independently set their own rules. 1395

Volkswagen has been fined another €800 million (6 million) over its diesel emissions scandal, this time because of failings at its Audi subsidiary.Volkswagen said Tuesday it accepted the fine imposed by German prosecutors, waving its right to appeal. It said the penalty would hit earnings this year."As a negative special item, [it will] reduce the group earnings for fiscal year 2018 accordingly," it said in a statement.The penalty by Munich prosecutors is just the latest consequence of the scandal that emerged in 2015 and initially wiped out billions off the company's value.Volkswagen admitted cheating on clean air rules with software that made emissions look less toxic than they actually were.The fine concludes the Munich prosecutors' investigation into the company. However, probes into executives, including Audi's former CEO Rupert Stadler, continue, the prosecutors said.The €800 million fine comprises a €5 million penalty for administrative offenses, the maximum allowed under German law.On top of that, prosecutors ordered Volkswagen to repay €795 million they said the company made from the cheating. The prosecutors said this included profits from the sales of affected vehicles.In this case, the diesel emissions cheating affected nearly 5 million cars sold by the Volkswagen group in Europe and the United States, prosecutors said. Specifically, it concerned V6 and V8 diesel engines manufactured by Audi and installed in Audi, Volkswagen and Porsche brands, and Audi vehicles equipped with EA 189 and EA 288 engine made by Volkswagen.Shares in Volkswagen (VLKAF) and Audi (AUDVF) were trading higher on Tuesday. Volkswagen stock is down 11 percent so far this year. 1699

Walking into the South Fork Forest Camp, there¡¯s no security checkpoint, no guards, no fence. Yet, it¡¯s an Oregon Department of Corrections prison facility housing nearly 200 inmates.This camp is a place where men who have served most of their sentences, have records for good behavior and possess a strong work ethic can come to earn a second chance.¡°We¡¯re all in here for different reasons,¡± said Ronald Lunsford, who is just one month from being released after more than a decade in prison.But all their paths led to the South Fork Forest Camp. A path now helping them turn away from the past.¡°Not everybody that comes to prison is a bad person. People make mistakes,¡± said Charles Teal, who has been firefighting and working in the camp¡¯s mechanic shop since he left the traditional prison setting. ¡°Places like this really help people get back on track.¡±Men who have less than four years left to serve can come here to get job training, and the training comes in many forms.Every morning before sunrise, the inmates trained in firefighting head out into the community to protect families¡¯ homes.This summer, wildland fire crews have relied heavily on inmate crews for help.¡°I like going out there and helping the community,¡± said Juan DeLeon. ¡°We¡¯re human beings, we¡¯re trying to do the right thing.¡±But not everyone is on the fire line: some inmates focus on the tree line learning forest management. Others in the shop learn carpentry and mechanic work, while many work in the camp hatchery raising fish to return to local rivers.The Oregon Department of Forestry partners with the Department of Corrections to provide job training, proper certification and the skills these men need to get jobs in these fields or similar fields as soon as they¡¯re released.For Aaron Gilbert, the chance to step outside his cell was the beginning of a new chapter. ¡°I¡¯ve been in maximum security prison for the last 13 years, and I came out here just about a year ago. I remember I got off the bus here and my eyes couldn¡¯t adjust, it was just so much green,¡± he said.Gilbert is working each day for just a few dollars towards a future he can now see clearly.¡°I feel like I¡¯ve been able to pay back some of my debts to society, and so I want to get out and live a simple life and do the right thing, and that¡¯s something this place will really teach you,¡± he said.On top of the job training these men can take with them after they¡¯re released, this camp also found their recidivism rate is much lower than other correctional facilities in the state.¡°When we put someone through our program and they re-enter society, that they¡¯re not going to going to re-enter this system, they¡¯ll have the knowledge the skills and the capacity to be a productive member of society,¡± said Brandon Ferguson of the Oregon Department of Forestry.The Oregon Department of Corrections said every inmate costs taxpayers an average of ,000 dollars per year to care for and house, which is about 8 per day. South Fork is helping save the community money by keeping people from re-offending, and it¡¯s creating a pipeline to the workforce.¡°All these guys that are here are going to get out, and they¡¯re going to be our neighbors, so we want them to be successful,¡± said corrections Lt. Steve Voelker.These men know success starts with redemption, and now, they¡¯re equipped to chase it. 3364

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