The final putt: LIV Golf announced plans to wind down operations after failing to secure a financial agreement with private equity firm BC Partners, marking a stunning end to the league’s effort to challenge the PGA Tour. Despite drawing strong international audiences, LIV struggled to secure a long-term U.S. television partner, generate sustainable revenue and maintain investor support, while several events were canceled this year. NBC News has the full story.
Winning streak: Louisiana’s continued unemployment insurance claims fell for the 11th consecutive week in October, dropping to 5,295, down 33% from the same period last year. Gov. Jeff Landry’s administration attributed the decline to economic development efforts and more than $150 billion in announced investments from companies including Hyundai, Meta and SpaceX. Broader labor market indicators also showed progress, with Louisiana’s unemployment rate falling to 4% in September and nonfarm payroll employment increasing 1.8% year over year, led by nearly 14% growth in construction jobs. The Center Square has the full story.
Homebuying help: First-time homebuyers are increasingly relying on family wealth to afford a home, with a record 10% paying entirely in cash through the year’s first six months and 28% of those purchases funded via inheritance. The median age of first-time buyers remained at a record-high 40, while they accounted for just 22% of home purchases, near a historic low. Elevated home prices and mortgage rates are making homeownership increasingly difficult, pushing more buyers to depend on inheritances, family gifts and loans for down payments as repeat buyers continue to dominate the market. Bloomberg has the full story.
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