Foreclosures take longer
Foreclosures in the U.S. now take an average of 318 days to complete, up from 277 last year. The process is shortest in Texas, at an average of 92 days, and longest in New York, at 966 days.
Wealth gap reaches new high
The wealth gap between whites and minorities in America has reached a new high, according to a Pew Research Center analysis of census data. The median net worth of a white household is now 20 times that of a black household and 18 times that of a Hispanic household, largely because of the housing market decline. The gap has doubled since the beginning of the recession.
The Washington Post
High hopes for wind and solar power
The Federal Energy Regulatory Commission expects wind and solar power to provide 60 percent of all new electrical generating capacity in the U.S. between now and 2019.
The New York Times
Cost of food keeps rising
Milk and eggs in June cost at least 10 percent more at the supermarket than in June 2010, says the USDA. Overall, food inflation is expected to continue to rise by 3 to 4 percent next year.
Indians take the helm
Among S&P 500 companies, Indians hold more CEO positions than any other nationality except Americans.
Sales-tax holidays for back-to-school shopping
Eleven states—including Alabama, Missouri, New Mexico, and Virginia—have scheduled sales-tax holidays for the first weekend in August in a bid to encourage back-to-school shopping. Four more states have set dates later in the month.