IT firm: Virginia-based Information technology company Excella has picked New Orleans for its newest hub and plans to hire 150 employees over the next five years, according to an announcement from Gov. John Bel Edwards’ administration. Excella specializes in artificial intelligence and modernizing IT systems. Its New Orleans hub will expand the company’s software development team for government and business clients. Read more from Louisiana Illuminator.
Four missing: After the Coast Guard suspended its search Thursday night, recovery efforts are expected to resume this morning for potential survivors of a helicopter crash in the Gulf of Mexico. Around 6 p.m. Thursday, the U.S. Coast Guard called off the search and rescue mission for four people on board a helicopter that crashed around 8:40 a.m. WAFB-TV has the latest.
Sixth straight drop: Contracts to buy U.S. previously owned homes fell far more than expected in November, diving for a sixth straight month in the latest indication of the hefty toll the Federal Reserve’s interest rate hikes are taking on the housing market as the central bank seeks to curb inflation. The National Association of Realtors said on Wednesday that its Pending Home Sales Index, based on signed contracts, fell 4% to 73.9 last month from October’s downwardly revised 77.0. CNBC has the full story.
Editor’s note: The offices of Business Report will be closed Monday, Jan. 2, in observance of the New Year’s holiday and Daily Report will not be published. Daily Report will return on Tuesday, Jan. 3. Have a safe and happy holiday.
