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Backed by Japan's SoftBank, WeWork aimed to revolutionise the office market by taking long leases on large properties and renting the space to multiple smaller businesses on more flexible, shorter arrangements. Some leveraged property investors could struggle to earn enough rental income to service rising debt costs, they said. The number and volume of real estate loans due for refinancing in 2024 is unclear because many deals are struck privately between borrower and lender, Ed Daubeney, co-head, debt and structured finance, EMEA, at real estate services firm Jones Lang LaSalle, told Reuters. U.S. industrial and office real estate investment trusts (REITs) were seen 35.8% more likely to default, versus expectations a year ago. "We're at a massive turning point in the real estate investment market globally," Jose Pellicer, head of real estate strategy at M&G Real Estate, said.
Persons: Kate Munsch, Japan's SoftBank, WeWork, Jeffrey Havsy, Ed Daubeney, Jones Lang LaSalle, Savills, refinancings, What's, MSCI, Jefferies, Jose Pellicer, Sinead Cruise, Elisa Martinuzzi, Mark Potter Organizations: REUTERS, Media, Real Estate, Reuters, Analysts, Europe, Flex, BNP, G, Thomson Locations: San Francisco , California, U.S, York, New York, London, United States, Europe, Britain, Germany, California
Rescue missionIt was around 4 p.m. when Menachem Klemenson got a four-word WhatsApp message from his brother Elhanan: “Packing, going down south,” it read. As the Klemensons and their nephew drove around extracting families, kibbutz residents jumped out of their hiding places. I am a father.”In the girl’s case, as with the bodies of other kibbutz residents the trio found, they did not know their identities, nor was Reuters able to identify them. “Either you leave the dog or I shoot it,” Menachem recalls his brother Elhanan saying. Politicians and the military had violated a fundamental compact with the residents of Be’eri, said kibbutz secretary Pauker.
Persons: Menachem Klemenson, Elhanan, Itiel Zohar, Menachem, He’d, ” Menachem, , , Itah, ” Itah, , he’d, ” Elhanan, Nephew Itiel, Solvy, Ella Ben Ami, Gazans, Pauker, ” Pauker Organizations: West Bank –, Google, Reuters, ” Reuters, Hamas, IDF Locations: Otniel, Judea, Samaria, Be’eri, Gaza, Vineyard
Backed by Japan's SoftBank, WeWork aimed to revolutionise the office market by taking long leases on large properties and renting the space to multiple smaller businesses on more flexible, shorter arrangements. Some leveraged property investors could struggle to earn enough rental income to service rising debt costs, they said. The number and volume of real estate loans due for refinancing in 2024 is unclear because many deals are struck privately between borrower and lender, Ed Daubeney, co-head, debt and structured finance, EMEA, at real estate services firm Jones Lang LaSalle, told Reuters. U.S. industrial and office real estate investment trusts (REITs) were seen 35.8% more likely to default, versus expectations a year ago. "We're at a massive turning point in the real estate investment market globally," Jose Pellicer, head of real estate strategy at M&G Real Estate, said.
Persons: Kate Munsch, Japan's SoftBank, WeWork, Jeffrey Havsy, Ed Daubeney, Jones Lang LaSalle, Savills, refinancings, What's, MSCI, Jefferies, Jose Pellicer, Sinead Cruise, Elisa Martinuzzi, Mark Potter Organizations: REUTERS, Media, Real Estate, Reuters, Analysts, Europe, Flex, BNP, G, Thomson Locations: San Francisco , California, U.S, York, New York, London, United States, Europe, Britain, Germany, California
The arousal sparked by uncertainty puts us right where we should be in times of flux, at the raw edge of change. “It means we’re in tune with the environment.”In other words, it pays to lean into uncertainty in times of change. It pays to lean into uncertainty in times of change. Maggie JacksonPeople whose stress levels were most attuned to the game’s fluctuating levels of uncertainty made the most accurate predictions. It may seem surprising that people who can cope with and are even drawn to disquieting not-knowing take such delight in life.
Persons: Maggie Jackson’s, Maggie Jackson Karen Smul, Nicholas Bloom, Maggie Jackson, , Joseph Kable, Robb Rutledge, Rutledge, Todd Kashdan, Paul Silvia, Stephanie Gorka of, disquieting, Nicholas Carleton, Stephen Bird, Stephen Organizations: Prometheus Books, CNN, Stanford University, University of Pennsylvania, Yale University, George Mason University, , University of North, Stephanie Gorka of Ohio State University, University of Regina, Twitter, Facebook Locations: Rhode Island, University of North Carolina, Greensboro, Canada
The Federal Reserve rolled out its FedNow real-time payments system in July. Photo: win mcnamee/ReutersWith real-time payments, chief financial officers can pay their suppliers in seconds, but many CFOs are holding off on using them in the back office, waiting to see if the value ultimately outweighs the costs. The Federal Reserve in July rolled out FedNow, a real-time payments system that allows businesses and consumers to move money instantly. The launch aims to expand access to faster payments to more financial institutions and their customers. A similar payments system from the Clearing House, a payment network owned by large financial institutions, launched in 2017.
Persons: mcnamee Organizations: Federal Reserve, Clearing
I’m a big fan of Augustinus Bader’s The Light Cream and then Merit’s Great Skin Instant Glow Serum, which is very subtle. At the end of the day, I use a gel cleanser from Oskia called the Renaissance Cleansing Gel. I love using a muslin cloth for a deep cleanse. I’m a real bath girl, and there’s an Aesop Geranium Leaf Body Cleanser that I love; it has the best smell. When I was pregnant I discovered the brand Mutha, and I think their Body Butter and Body Oil are the best.
Persons: Rose, Lom’s Cleanser, Augustinus Bader, you’ve, I’ve Locations: Oskia, London, There’s, Kérastase, Diptyque
Dutch payments fintech startup Fero has raised $3 million in a seed funding round from US hedge fund Coatue. The Amsterdam-based startup, founded in 2022, aims to improve the customer verification process at checkouts and decrease the level of abandoned purchases. Payment authentication, where customer identities are verified, has become much more crucial for businesses since the rollout of Europe's PSD2 Open banking regulations. Fero wants to reduce the level of friction customers face during this authentication process, the startup's cofounder and CEO Craig Savage said. The company went through the tech startup incubation program Antler before raising this $3 million seed funding round led by Coatue, alongside Volta Ventures and Antler.
Persons: Fero, Craig Savage, Savage, Coatue Organizations: Volta Ventures Locations: The Amsterdam, Madrid, Amsterdam
Golf is nothing like an extreme sport – but it absolutely is in one corner of South Africa. Courtesy Legend Hospitality GroupInto the lion’s denThe seed for The Extreme 19th was planted in November 2000, when Cilliers’ wife Mart surprised him with a family picnic at the summit of Hanglip Mountain for his 41st birthday. Courtesy Legend Hospitality GroupStaff donned crash helmets as balls rained down from above in an attempt to plot the best landing zone. Two icons of British sport have played The Extreme 19th: seven-time Formula One world champion Lewis Hamilton and five-time Olympic rowing gold medalist Steve Redgrave, as well as South African Springbok rugby heroes Frik Du Preez, Naas Botha and Morne Steyn. Courtesy Legend Hospitality GroupCilliers occupies neither.
Persons: Africa’s, they’ve, , Peet Cilliers, , Cilliers, Mart, , Gary Player, teed, ” Cilliers, “ We’ve, Franklyn Stephenson, Sergio Garcia, Bernhard Langer, Justin Rose, Padraig Harrington, Lewis Hamilton, Steve Redgrave, Frik Du Preez, Morne, Morgan Freeman, Nelson Mandela, Matt Damon, Clint Eastwood, ” Freeman scrawled, you’ve, you’re Organizations: CNN, Safari Conservancy, Legend, Rand, Lions, Staff, Golfers, West Indies, , African Springbok, Naas Botha, Globe, Cilliers Locations: South Africa, Limpopo, Zimbabwe, , China, Europe, Naas, Morne Steyn, Lake Entabeni, Johannesburg, it’s
“Why can’t I, a college graduate, find a job?” Mr. Yi lamented as he sat in the hostel’s common room after a day of unsuccessful interviews. “Why is it only jobs that pay just $400 or $500 a month that want me? Sometimes I wonder, how can it be this hard?”That is the question being asked in hostels across China. As joblessness among young Chinese has reached record highs, hostels have become refuges for young people trying their fortunes in major cities, who need a place to crash between back-to-back interviews, to strategize on their next networking meeting or to fire off yet another résumé. They have become concentrated hubs for people’s anxiety, hopes, despair and ambitions, all packed into bunk beds that go for a few dollars a night.
Persons: Ethan Yi, Mr, Yi Locations: Shanghai, China, strategize
LinkedIn's new AI chatbot wants to help you get a job
  + stars: | 2023-11-01 | by ( Hayden Field | ) www.cnbc.com   time to read: +3 min
LinkedIn debuted an artificial intelligence-powered chatbot Wednesday that it's billing as a "job seeker coach," and unveiled other generative AI tools for Premium members. The new AI chatbot, which aims in part to help users gauge whether a job application is worth their time, is powered by OpenAI's GPT-4 and began rolling out to some Premium users Wednesday. "We had to build a lot of stuff on our end to work around that and to make this a snappy experience," Berger told CNBC in an interview. The chatbot will also point to potential gaps in a user's experience that could hurt them in the job application process. In the past, many uses of AI in hiring or job applications have faced criticism for bias against marginalized communities.
Persons: OpenAI's GPT, Erran Berger, Berger, We've, we've, Jordan Novet Organizations: LinkedIn, Microsoft, CNBC, Harvard Business, Tech, Qualcomm
When Zhang left his village in northeastern China a decade ago to work as a welder in a big city, jobs were plentiful. He pays $55 a month in rent for a tiny studio apartment but pinches every other penny. The morning we talked, he said he’d had a bowl of instant noodles, one of two meals he eats a day. Mr. Zhang’s family grows corn on a tiny patch of land, generating about $200 a year. At 28, Mr. Zhang, who asked that I use only his surname, is not married and does not plan to have children.
Persons: Zhang, he’s, he’d, , Locations: China, Guangzhou, Beijing
Russian forces have geared up for fresh attacks in different sections of the front and are suffering heavy losses. The Black Sea has become a crucial theatre in the war. "When we ensure even more security to the Black Sea, Russia will lose any ability to dominate in this area and expand its malign influence to other countries," Zelenskiy said. The full extent of the damage that Ukraine has done in recent months to the Russian Black Sea Fleet remains unclear. "Ukraine's success in the battle for the Black Sea will go down in history books, although it's not being discussed much today," Zelenskiy said.
Persons: Volodymyr Zelenskiy, Zelenskiy, Vladimir Putin, it's, Vitaliy Barabash, Barabash, Ron Popeski, Maria Starkova, Lidia Kelly, Stephen Coates, Gerry Doyle Organizations: Russian Navy, unwaveringly, Russia, Russian, Reuters, Thomson Locations: LVIV, Ukraine's, Ukraine, Russia, Sevastopol, East, Europe, Russian, Avdiivka, Bakhmut
Microsoft on Tuesday said it started rolling out the next major update to its Windows 11 PC operating system. Windows 11 now represents about 24% of desktop PCs, according to StatCounter data, while Windows 10, which will be supported until October 2025, controls almost 72% of the market. After that, Windows 11, which debuted in 2021, could become more popular. Copilot is probably the biggest part of this year's Windows 11 release. Here's a list of some of the other new features of the Windows 11 2023 Update, also known as 23H2:A virtual video editor.
Persons: OpenAI, Siri, Satya Nadella, It's, Clipchamp, You'll, Notepad Organizations: Microsoft, Windows, Bluetooth, BP, RBC, Adobe, Bing, Google Locations: Kantar, United Kingdom, India, OneDrive, North America, Asia, South America
CNBC's Jim Cramer on Tuesday worried about the sustainability of the recent market action. Even though the major indexes saw gains over the past two days, Cramer asserted that these positives may rely on the results of the Federal Reserve's Wednesday meeting. Cramer attributed this action to fears about the broader economy's potential slowdown, with investors looking past the U.S. government's plans to spend trillions on infrastructure. To Cramer, this "instant wholesale revaluation process" may end only when long-term interest rate peaks, either because the bond market evens out, or the Fed resolves to stop rate hikes. "But we get smashed tomorrow and all of the stocks that rallied big today have those gains repealed instantly.
Persons: CNBC's Jim Cramer, Cramer Organizations: Federal, Caterpillar, Fed Locations: U.S
Israel strikes Gaza’s Jabalya refugee camp
  + stars: | 2023-10-31 | by ( Kareem Khadder | Abeer Salman | ) edition.cnn.com   time to read: +4 min
Jerusalem CNN —An Israeli strike targeting a Hamas commander in the densely populated Jabalya refugee camp in northern Gaza has left catastrophic damage and killed a large number of people, according to eyewitnesses and medics in the enclave. The IDF also said “numerous other Hamas terrorists” were hit in the strike, and claimed the Central Jabalya Battalion had taken control of civilian buildings. The Palestinian Ministry of Foreign Affairs described the strike as a “massacre,” referencing “chilling documented scenes” of children and women. Jordan’s Foreign Ministry also condemned the strike, saying it held Israel responsible for “this dangerous development,” in a statement released on X, previously known as Twitter. And Egypt accused Israel of breaking international law with what it said was the “inhuman” targeting of a residential area.
Persons: , Mohammad Ibrahim, Richard Hecht, Hecht, Ibrahim Biari, Hazem, Israel, B’tselem, , , Atef, Mohammad al Rann Organizations: Jerusalem CNN —, CNN, Israel Defense Forces, IDF, Central Jabalya Battalion, , of Interior, Palestinian Ministry of Foreign Affairs Locations: Jerusalem, Gaza, Israel, Egypt
But it's also likely the BOJ have their finger on the intervention button to cap any runaway rally on USD/JPY." Nevertheless, this is working in a way to increase the volatility of the global rates market. This means it will still have a certain distance until the BOJ exit from the negative rate policy." "A yield cap isn't a yield cap if you change it every time the market gets close." The Bank of Japan could lift the negative policy rate to zero over the coming year.
Persons: Kim Kyung, KYLE RODDA, MATT SIMPSON, JPY, it's, NOMURA, They've, TONY SYCAMORE, normalisation, TAKAYUKI MIYAJIMA, ROB CARNELL, they're, JEFF NG, TOM NASH, OMORI, SHOTARO KUGO, me, IZURU KATO, MARCEL THIELIANT, today's, FREDERIC NEUMANN, CHRISTOPHER WONG, BOJ's, Sherry Jacob, Phillips Organizations: National Printing Bureau, Bank of Japan, REUTERS, Bank of, Nikkei, SAXO, SONY, ING, UBS, CHIEF, DAIWA, OF, HSBC, Global, Thomson Locations: Tokyo, Japan, Bank of Japan, MELBOURNE, BRISBANE, SINGAPORE, TOKYO, U.S, SYDNEY, ASIA, PACIFIC, CHIEF JAPAN, stagflation, OF ASIA, YCC, HONG KONG
OpenAI's chief scientist told MIT Technology Review that he initially thought ChatGPT wasn't very good. AdvertisementAdvertisementOpenAI's chief scientist admitted that he didn't think ChatGPT was very good before its record-breaking launch. Ilya Sutskever, OpenAI's cofounder and chief scientist, told MIT Technology Review that he was initially unimpressed by the chatbot's inability to answer questions accurately, and was taken by surprise by its explosive popularity. "I will admit, to my slight embarrassment … when we made ChatGPT, I didn't know if it was any good," said Sutskever. AdvertisementAdvertisementSutskever told MIT tech review that the true draw of ChatGPT was convenience, not accuracy, comparing the first time people used it to a "spiritual experience."
Persons: ChatGPT, Ilya Sutskever, , Sutskever, Greg Brockman, Forbes, OpenAI Organizations: MIT Technology, Service, MIT
Sigrid Nunez’s Art of Noticing
  + stars: | 2023-10-30 | by ( Wyatt Mason | ) www.nytimes.com   time to read: +3 min
Growing up on Staten Island, Nunez was an outsider to the literary world. Her father immigrated to the United States illegally at some point — facts on his life are scant, according to Nunez — working in a hospital kitchen and Chinese restaurants. Home difficulties aside, Nunez was an avid reader and a strong student, which earned her the scholarship to Barnard. Auden and Susan Sontag (who later hired Nunez as a typist, a period memorialized in Nunez’s one memoir, “Sempre Susan”). Silvers was notorious for yelling at his staff or barely noticing them, for expecting them to stay until all hours, as he would.
Persons: Nunez, Nunez —, , Barnard, Virginia Woolf, Nunez’s, , Hardwick, — Hardwick, Robert Silvers, Barbara, Jason Epstein —, Mary McCarthy, Truman Capote, Edmund Wilson, Saul Bellow, W.H, Auden, Susan Sontag, Susan ”, — Martin Scorsese, ” Nunez, Silvers, Barbara Epstein Organizations: Army, Putnam, The New York, New York City, New York Locations: Staten, United States, Lowell, New York
Editor’s note: The following contains spoilers about the series finale of “Billions,” titled “Admirals Fund.”After seven twisty seasons, with more double and triple crosses than you can shake a stock certificate at, “Billions” successfully landed the plane (OK, private jet) with its series finale, in a satisfying finish that reassembled the key players and even gave them time to take individual bows. For a show with so much bite and venom, it was oddly sentimental in generally the best of ways. The final season found a way to raise the stakes above high finance, with billionaire Mike Prince (Corey Stoll) running for president, exhibiting enough problematic qualities and questionable beliefs to inspire those within in his inner circle to turn against him and try to thwart his bid. If it wasn’t quite the game of catch scene from “Field of Dreams,” for these purposes the point was much the same. The “Billions” finale is playing on Paramount+ and will premiere October 29 on Showtime.
Persons: Mike Prince, Corey Stoll, Prince, immeasurably, Damian Lewis, Bobby “, ” Axelrod, Chuck Rhoades, Paul Giamatti, Jeffrey DeMunn, Chuck, , Brian Koppelman, David Levien, Bobby, Wendy, Maggie Siff, Mike “ Wags ” Wagner, David Costabile, , Steve Miller Organizations: , Showtime, Paramount
That’s when police say Card was committed to a mental health facility for two weeks after acting erratically and “hearing voices and threats to shoot up” a military base. State Police troopers took Card, a sergeant 1st class, to the Keller Army Community Hospital at West Point for what would be two weeks of mental health evaluation. What New York State Police did about Card’s threats is unclear. “Just because there appears to be a mental health nexus to this scenario, the vast majority of people with mental health diagnosis will never hurt anybody,” Sauschuck said. She said someone dropped the ball because Card’s threats and medical evaluation should have triggered a yellow flag seizure of his guns when he returned home.
Persons: Robert Card, , , Jack Clements, Joel Merry, ” Merry, Card, , Clements, we’ve, ” Clements, , Jonathan Crisp, it’s, ” Crisp, Michael Sauschuck, ” Sauschuck, Jody Madeira, ” ___ Condon, Mustian, Patrick Whittle, Rhonda Shafner Organizations: U.S . Army, Associated Press, U.S . Army Reserve, Army Reserve, Army, Authorities, FBI, New York State Police, Army Reserve’s, Battalion, 304th Infantry Regiment, State Police, AP . State Police, Keller Army Community Hospital, York State Police, Maine, of Public, Indiana University Locations: Maine, Saco, Sagadahoc County, Bowdoin, West Point , New York, That’s, Lewiston, West Point, West, Madeira, New York, Portland , Maine, Investigative@ap.org
Opinion | A Dispatch From the Muslim Girl Scouts of Astoria
  + stars: | 2023-10-28 | by ( Mara Gay | ) www.nytimes.com   time to read: +7 min
At a meeting of the Muslim Girl Scouts of Astoria last week, a young woman bounded into the room, asking whether her fellow scouts had secured tickets to an Olivia Rodrigo concert. “It’s no conflict at all,” Ms. Rayan told me of Islam and the Girl Scouts. “You want a strong Muslim American girl.”At the Girl Scouts meeting, Amira and her friends discussed their plans to protest the war in Gaza. In 1948, Ms. Rayan told me, her grandfather lost his home and land in Jaffa to the state of Israel. Ms. Rayan said those killed in her family included six cousins and their children, who were as young as 2.
Persons: Amira Ismail, Amira, ’ ” Amira, ‘ That’s, , , ” Amira, Eid, Dianne Morales, Abier Rayan, Olivia Rodrigo, Taylor Swift, Ms, Rayan, There’s, “ I’m, John Lewis, Amira waded Organizations: City Hall, Palestinian, United, New, Muslim Girl Scouts, Scout, Girl Scouts, Gaza Health Ministry, Hamas, Yorkers, Brooklyn Locations: New York, Queens, New York City, Palestinian American, United States, Israel, America’s, Astoria, Gaza, Egypt, Jaffa, Gaza City, Brooklyn
Sarah Dorsett, chief executive of high-tech baby-monitor company Nanit, is always plugged in—just don’t send her any emails. She is often on her iPhone 13, using it for everything from messaging with friends and co-workers to monitoring Nanit’s sales on Shopify. According to a recent sampling, Dorsett spends an average of 2 hours and 50 minutes each day on her phone. During that time she said she signed up for promotional emails from dozens of retailers, and her inbox is now flooded. I check my email a few times a week,” she said.
Persons: Sarah Dorsett, Dorsett, cale, ike B loomingdale’s, ove
Rodrigo Oropeza | Afp | Getty ImagesMexican authorities on Thursday gave the first human toll for Hurricane Otis' destruction along the country's Pacific coast: at least 27 dead and four missing. President Andrés Manuel López Obrador said at his morning news briefing that the deaths occurred around Acapulco, but provided few details. "We regret the 27 dead," López Obrador said. "The people sheltered, protected themselves and that's why fortunately there weren't more tragedies, loss of human life," López Obrador said. López Obrador shared details of only one death: He said one soldier was among the dead after a wall of his home collapsed on him.
Persons: Andres Manuel Lopez Obrador, Hurricane Otis, Rodrigo Oropeza, Otis, Andrés Manuel López Obrador, López Obrador, Jakob Sauczuk, Sauczuk, Pablo Navarro, Navarro, Isabel de la Cruz Organizations: Afp, Getty Images, Hurricane, Getty, National Guard, Mexico City Locations: Acapulco, Guerrero State, Mexico, Hurricane, Chilpancingo
"If fuel is not received into Gaza, UNRWA will be forced to significantly reduce and in some cases bring its humanitarian operations across the Gaza Strip to a halt. Israel has refused to let in fuel with aid shipments, saying it could be seized by Hamas. "In the last 24 hours another three UNRWA staff members have been killed, bringing the total to 38 staff killed," said UNRWA. The enclave is reeling from unrelenting Israeli air strikes, triggered by a deadly cross-border rampage into southern Israeli communities by Hamas militants on Oct. 7. Gaza's health ministry said on Thursday that more than 7,028 Palestinians had been killed in air strikes since then.
Persons: Khan Younis, Mohammed Salem, Israel, Mahmoud Shameya, Riyad al, Maliki, Omar Al, Namara, Abu Taaema, Taaema, Hamas's Al, Elias Abu Shammala, Stephanie van den Berg, Bart Meijer, Emma Farge, Michael Georgy, Mark Heinrich Our Organizations: Nations, UN, REUTERS, United Nations, Nasser Hospital, Palestinian, . Security, World Health Organization, Reuters, Thomson Locations: Gaza, GAZA, Israel, Iran, Qarara, Khan, The Hague, Rafah, Aqsa, Egypt
The logo of the instant messaging service Telegram on a smartphone on January 20, 2022. Telegram, the messaging app, restricted access to channels belonging to Palestinian militant group Hamas, acting to limit the group's influence online after pressure from critics amid the ongoing conflict. The platform blocked access to the official channel of Hamas, hamas_com and al-Qassam brigades, the military wing of Hamas, for Android users, CNBC verified Wednesday. When trying to access the channel, a message pops up saying: "Unfortunately, this channel can't be displayed on Telegram apps downloaded from the Google Play Store." Some other Hamas-linked channels, such as Gaza Now, remain accessible on Telegram.
Persons: hamas_com Organizations: Hamas, Android, CNBC, Google, Tass Locations: Gaza, Russian, Israel
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