In the air: More legislation will dictate how drones can be used in Louisiana. President Barack Obama’s administration set new rules for small low-altitude drones Tuesday. Meanwhile, Gov. John Bel Edwards signed into law new limits on drone use in Louisiana. The Associated Press reports a bill by Rep. Stephen Dwight, a Republican from Lake Charles, will restrict drone use near schools, school property or correctional facilities. It includes exceptions for police, situations where the landowner grants permission and for pre-agreed recordings like sporting events. The law takes effect Aug. 1. A second bill approved by Edwards will cover drones under criminal trespassing laws. The measure by Sen. Dan Claitor, R-Baton Rouge, makes an exception for anyone flying the unmanned aircraft system for commercial agricultural use. It takes effect immediately.
A new high: Sales of existing homes rose to their fastest pace since 2007 and prices climbed to a new high in May, the latest sign of rising demand amid low interest rates and steady job creation, The Wall Street Journal reports. Sales climbed 1.8% in May from the prior month to a seasonally adjusted annual rate of 5.53 million, the National Association of Realtors said Wednesday. Economists surveyed by The Wall Street Journal had expected sales would rise 1.8% to a rate of 5.55 million in May. May’s sales were 4.5% higher than a year earlier. April’s sales pace was revised down to 5.43 million. Read the full story. (Note: a subscription may be required.)
Women owned: New York City is the best place in the world to start a business. USA Today reports that Dell—in collaboration with the research company IHS and with participation from the Technology and Entrepreneurship Center at Harvard—commissioned research on the best cities for female entrepreneurs to start and scale a high-growth business. The study looked at 50 cities worldwide that already have a vibrant entrepreneurial community. Four U.S. cities were in the top 10: New York (1); San Francisco (2); Washington (7); and Seattle (10). The report also found that while the U.S. has the nuts-and-bolts foundation to grow significant woman-owned businesses, it lags in helping to encourage and enable female entrepreneurs when compared with other global cities in the survey. Read the full story.
