U.S. Pending Home Sales Jump More Than Expected In September

A report released by the National Association of Realtors on Tuesday showed another significant increase in pending home sales in the U.S. in the month of September.

NAR said its pending home sales surged up by 1.5 percent 108.7 in September after spiking by 1.4 percent to a revised 107.1 August.

Economists had expected pending home sales to climb by 0.9 percent compared to the 1.6 percent jump originally reported for the previous month.

With the bigger than expected monthly increase, pending home sales in September were up by 3.9 percent compared to the same month a year ago.

A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.

NAR chief economist Lawrence Yun noted historically low mortgage rates played a significant role in the two straight months of gains.

“Even though home prices are rising faster than income, national buying power has increased by 6% because of better interest rates,” Yun said.

He added, “Furthermore, we’ve seen increased foot traffic as more buyers are evidently eager searching to become homeowners.”

The bigger than expected jump in pending home sales reflected sharp increases in the Midwest and South, where pending sales soared by 3.1 percent and 2.6 percent, respectively.

On the other hand, pending home sales slumped by 1.3 percent in the West and edged down by 0.4 percent in the Northeast.

US-Mexico border wall poses 'severe environmental threat'

Bulldozers are clearing the way to build a new wall that may come with an enormous environmental cost.

Bulldozers are clearing the way to build a new wall on the border between Mexico and the United States.

The wall is a $5bn commitment by US President Donald Trump to stop asylum seekers getting into the US.

But experts say the environmental cost of the wall may be enormous too, as well as irreversible.

Al Jazeera’s Rob Reynolds reports from northern Mexico.

Syria offensive: United Nations to discuss Turkey's action

Many have been questioning whether US President Donald Trump effectively gave a green light to Turkey, before its military operation started.

The United Nations Security Council will meet in the coming hours to discuss the latest developments in northeast Syria.

The five European Union members on the Council – France, Germany, Belgium, Poland, and the United Kingdom – requested the meeting after Turkey announced the start of its cross-border operation.

Al Jazeera’s diplomatic editor James Bays reports from the United Nations in New York.

Texas police officer shot during traffic stop, now in critical condition; 2 suspects held

DENTON, Texas – Authorities say a North Texas police officer is in critical but stable condition after being shot during a traffic stop, and two suspects who fled were later taken into custody and hospitalized with gunshot wounds.

Denton police say the officer pulled the suspects’ vehicle over for an equipment violation around midnight Monday in Denton, located about 40 miles northwest of Dallas.

Police say backup officers at the scene returned fire after the officer was shot.

The suspects’ vehicle was later spotted by police in the nearby city of Carrollton, and they were taken into custody after a short pursuit.

Police said at a news conference early Tuesday that the officer was undergoing surgery.

Police said the suspects were being treated for gunshot injuries at a hospital.

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US consumer confidence falls for third consecutive month

U.S. consumer confidence fell for a third consecutive month in October as optimism about job prospects and business conditions down the road grew weaker.

The Conference Board said its consumer confidence index edged down to 125.9 in October, compared with 126.3 in September. Feelings about the present situation improved, but future expectations frayed.

Conference Board economist Lynn Franco said Tuesday that even with the recent declines, confidence remains high and that should support strong holiday shopping.

Confidence has been rattled by a global slowdown and a U.S.-China trade war which have hurt American manufacturers and increased uncertainty.

Endeavor Global Marketing Rebrands As 160over90, Taking Name Of Acquired Firm

Endeavor Global Marketing has rebranded as 160over90, adopting the name of the Philadelphia-based agency it acquired in 2018.

The marketing unit’s client roster includes AB InBev, Audi, Dick’s Sporting Goods, HSBC, Lightlife, Marriott International and Visa, served from offices in several cities around the world. About 800 employees work at 160over90, spanning the areas of advertising, branding, experiential, brand partnerships, PR and communications.

Endeavor reportedly paid about $200 million to acquire 160over90, adding that deal to the acquisitions of Catalyst, Clifford French, Fusion, IMG Live and RED. At the time of the 160over90 deal, the company was owned by Searchlight Capital Partners and was handling branding and marketing for colleges, sports teams and brands, among them the Philadelphia Eagles, Ferrari, UCLA and Under Armour. Through its purchase of IMG several years ago, Endeavor has become a top-tier player in the sports business.

In a statement, Endeavor called the rebranding “the natural next step in our agency’s evolution.” Endeavor CMO Bozoma Saint John and Global Marketing President Ed Horne opted for 160over90, which is a reference to elevated blood pressure. The new name, the company said, “refers to the excitement and emotional response that we want all out work to elicit.”