Copado commits: Enterprise software company Copado will invest $1 million to establish its global headquarters in downtown New Orleans, creating 59 direct jobs with an average annual salary of $103,808 while retaining 70 existing positions. The company develops automation tools to help businesses build, test and deploy software. Building on its 2024 launch of a New Orleans innovation office, the company plans to expand partnerships with Louisiana universities and internship programs, supported by a state incentives package that includes a $375,000 performance-based grant and workforce recruitment assistance.
Federal aid program: The Trump administration is launching its $8 billion Harvest Fuel Relief program to help U.S. farmers cope with soaring fuel and fertilizer costs, falling crop prices and record farm debt. The payments are expected to help farmers maintain spending on seeds, fertilizer, pesticides and equipment rather than cut back on purchases needed for future harvests. Major potential beneficiaries include agricultural suppliers Bayer and Vylor, fertilizer producers CF Industries and Nutrien, and equipment manufacturer Deere, as government aid supports demand for their products. The Wall Street Journal has the full story.
Rates stall buyers: U.S. mortgage applications fell 5.3% last week despite the average 30-year fixed mortgage rate dipping to 7.41%. Home purchase applications dropped 7% weekly and 18% year over year, while refinancing applications remained 59% below year-ago levels. More buyers are turning to adjustable-rate mortgages for lower rates as high borrowing costs continue to weigh on housing demand. CNBC has the full story.
