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☆ Ally Financial plunges 19% after CFO says its borrowers are struggling
▼ + stars: | 2024-09-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Ally Financial shares dropped 19% Tuesday after its CFO warned of weaker financial health among borrowers. Ally Financial, a major auto lender, expects rising delinquency rates going forward. AdvertisementShares of Ally Financial plunged as much as 19% on Tuesday after the company's CFO said it is seeing a deterioration in the financial health of its consumers. He added: "We're clearly dealing with a cohort of borrowers who have been struggling with cost of living and now are struggling with an employment picture that's worsened." Overall, Ally Financial's comments are not encouraging for the consumer picture, but Ally Financial is known for catering to borrowers with credit scores in the lower to middle ranges.

Persons: —, Ally, Russell Hutchinson, Hutchinson, " Hutchinson, Ally Financial's, Sanjay Sakhrani, Ally's, Sakhrani Organizations: Financial, Ally, Service, Barclays

☆ How to pick the best cruises to see the northern lights, eclipses, and galaxies, according to an astrophysicist
▼ + stars: | 2024-09-10 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +8 min

He's seen some spectacular sights on cruises, including the northern lights and other galaxies. Here are Oluseyi's tips for the best stargazing on cruise lines, including seeing eclipses, galaxies, the northern lights, and meteor showers on your next cruise. "The most amazing one was a trip to Norway on a cruise called Chasing the Northern Lights," he said. The northern lights are visible most often in northern latitudes including Canada, Alaska, and northern Scandinavia. The fall and spring equinoxes are the best time for viewing the northern lights, NOAA notes.

Persons: —, Hakeem M, Oluseyi, Paul Grigsby, Holland, I'm, GOH CHAI HIN, Grigsby, Igor Chekalin, readjust Organizations: Service, Princess Cruises, Discovery, Business, Viking Cruises, NASA, Holland, Southern, Northern, Hemisphere, BBC Locations: stargaze, Norway, Canada, Alaska, Scandinavia, Islands, Chile, Greenland, Seattle, London, Iceland, Spain, Russia, Portugal, Holland America, Southern Hemisphere, Royal Caribbean, Australia, New Zealand, Africa, South America

☆ They were due to leave for their dream cruise in May. Three months on they’re still stuck at the departure port
▼ + stars: | 2024-09-07 | by ( Julia Buckley | ) edition.cnn.com time to read: +12 min

CNN —It was the years-long cruise that was supposed to set sail, but saw its departure postponed… postponed… and postponed again. However, there’s one crucial difference between Life at Sea and Villa Vie Residences, the company attempting the 3.5-year cruise: Villa Vie has a ship. This meant the certifications had expired – and instead of simply renewing them, Villa Vie was obliged to start from scratch. Olsen cruise ship. ‘Not what we were expecting’Angela and Steve Theriac have been traveling around Europe while waiting to set sail.

Persons: …, “, ”, Lanette Canen, Johan Bodin, Bodin, “ We’re, we’ve, “ It’s, We’ve, Peter Morrison, Villa, Mike Petterson, Petterson, –, Fred, Olsen, Villa Vie, “ Fred, DNV, Samantha Stimpson, ‘ We’ve, ’, Maureen O'Hare, Fran Paroissien, she’s, Paroissien, I’ve, we’d, he’d, ” Micky Murray, “ They’re, I’m, Bonny Kelter, ” Kelter, “ We’ll, ’ Angela, Steve Theriac, Angela, it’s, “ We’ve, that’s, We’re, They’ve Organizations: CNN, Sea Cruises, Residences, Olsen Cruises, Hawaii –, Canen, Edinburgh, Sweden –, Villa Vie, Survey, Braemar, Olsen Cruise Lines, Villa, Vie, ‘, Midlife, Liverpool Locations: Belfast, Northern Ireland, Braemar, Fred, Hawaii, Stirling, Scotland, Glasgow, Europe, Sweden, –, Melbourne, Australia, Canary, Seychelles, Liverpool, Edinburgh, Spain, Denmark, Dublin, Nicaragua

☆ This couple went on one cruise together. Now, they're moving onto a never-ending residential cruise ship.
▼ + stars: | 2024-08-24 | by ( Brittany Chang | ) www.businessinsider.com time to read: +8 min

AdvertisementThat is, until this spring, when Canen and Bodin, both 54, uprooted their lives in Maui, Hawaii, to move onto a new residential cruise ship called Villa Vie Odyssey. AdvertisementThe couple sold their business in MauiBodin told BI that before Villa Vie, the couple had never really considered leaving Maui. "We went pretty much every day for two weeks and spent all day there until they kicked us off," Canen told BI. AdvertisementBefore committing to Odyssey, Canen and Bodin looked into Storylines, which plans to construct its own residential cruise ship, MV Narrative. AdvertisementAre you sailing on a residential cruise ship like Villa Vie or have a tip?

Persons: —, Lanette Canen, Johan Bodin, Canen, Bodin —, we'd, Bodin, Mikael Petterson, Fred Olsen Cruise, Lanette, Villa Vie's, Villa, Maui Bodin, they've, Petterson, Villa Vie, We're, Angela, Stephen Theriac Canen, they'd, Kendra Holmes, they're Organizations: Service, Business, Villa, Residences, Fred Olsen Cruise Lines, South Pacific, YouTube, Sea Cruises, Cruises, Victoria Cruises Locations: Maui, Hawaii, Europe, Asia, Australia, South, North America, Africa, Belfast, Ireland, Braemar, Maui —, Italy, Croatia, Slovenia, Sweden, Canary, Norwegian, Villa Vie, Canen, Petterson

☆ Menga Dolmen: Engineering behind Neolithic monument revealed
▼ + stars: | 2024-08-23 | by ( Katie Hunt | ) edition.cnn.com time to read: +8 min

CNN —Each of the 32 colossal stones that make up the Menga Dolmen, a 5,600-year-old megalithic monument in southern Spain, is many times bigger than the largest megaliths at Stonehenge, the most famous Neolithic wonder. The upright stones that make up the walls of the chamber were not perfectly vertical, tilting inward at a gentle angle to make the building narrower at the roof than at the floor and creating a trapezoid-shaped chamber. The team calculated that each of the upright stones lean inward at a largely uniform angle of 84 to 85 degrees. The upright stones that form the walls also lean sideways against one another at a consistent angle. The Menga Dolmen sits atop a hill near Antequera, Spain.

Persons: ”, Leonardo García Sanjuán, “, it’s, “ I’d, Mike Parker, Pearson, ” Parker, Pearson wasn’t, José Antonio Lozano Rodríguez, plumb, Miguel Ángel Blanco, García Sanjuán, Parker, Leonardo García, We’ve Organizations: CNN, Boeing, Spain’s University of Seville, University College London, Oceanographic Center Locations: Spain, Europe, Antequera

☆ I've lived in Spain for 10 years. Here are 5 hidden-gem locations tourists shouldn't overlook.
▼ + stars: | 2024-08-04 | by ( Esme Fox | ) www.businessinsider.com time to read: +1 min

I've traveled throughout Spain extensively in my 10 years of living there. Spain's most popular destinations have recently experienced protests against mass tourism. Go to newsletter preferences Thanks for signing up! AdvertisementAlthough certain parts of Spain can be overcrowded with tourists, I've found some lesser-visited spots that shouldn't be overlooked. In fact, several destinations in Spain have been in the news recently due to protests against mass tourism, particularly in the Canary Islands and Mallorca.

Persons: I've, — Organizations: Service, Business Locations: Spain, Gata, Central Basque Coast, Canary, Mallorca, Barcelona

☆ UK lenders slash mortgages as Bank of England rate cut brings relief to homeowners
▼ + stars: | 2024-08-02 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Homeowners on tracker mortgages, which follow the Bank's base rate, will be the first to benefit from the savings. Barclays , Santander, Metro Bank, Lloyds , Halifax, Nationwide and HSBC all cut repayments costs by 25 basis points shortly after the BOE's announcement. Those on standard variable rates, which typically take effect once a borrower's tracker or fixed rate deal ends, will also see savings. Given their more volatile nature, tracker and SVR mortgages remain a relatively niche part of the U.K. mortgage market. However, analysts suggest it may not be long until reductions feed through to the 6.93 million households on fixed rate mortgages.

Organizations: Bank of England, HSBC, Santander, Nationwide, Homeowners, Barclays, Metro Bank, Lloyds, Finance Locations: London's Muswell Hill, London, Halifax, Santander

☆ There are cracks forming in the US jobs market
▼ + stars: | 2024-08-02 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

CNN —The pandemic threw the US job market into chaos, but four years later, things finally seem to be back to normal. Most indicators support the idea that the labor market is no longer overheated and could easily maintain a new normal of steady, but slower growth. The unemployment rate is expected to hold steady at 4.1%, according to FactSet consensus estimates. “This is a labor market that’s otherwise moderated,” Nick Bunker, director of North American economic research at Indeed, told CNN. The same goes for the prime-age labor force participation rate, which at 83.7% also is the highest in 23 years.

Persons: hasn’t, Jerome Powell, Nick Bunker, Powell, Nancy Vanden Houten, ’, “, ”, —, Madhavi Bokil, Indeed’s Bunker, Bunker, ” Elise Gould, ” Bunker, “ It’s, Julia Pollak, ” Pollak, can’t Organizations: CNN, Federal, of Labor, Challenger, Economic Policy Institute, ” Locations: Oxford

☆ Barclays profit dips in the second quarter, beats estimates
▼ + stars: | 2024-08-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

LONDON — Barclays on Thursday reported second-quarter net profit attributable to shareholders of £1.2 billion ($1.54 billion), slightly lower than a year ago, as the British lender's net interest income fell. Analysts polled by Reuters had expected attributable net profit of £1.03 billion for the period, according to LSEG data, in a decline from the £1.3 billion logged in the second quarter of 2023. Barclays posted revenue of £6.3 billion for the latest quarter, above a forecast of £6.25 billion. Net interest income at it consumer bank dropped 4% year-on-year to £3.15 billion across the January-June period, as the lender's net interest margin declined from 3.2% to 3.15%. The lender's restructure split the corporate and investment bank across Barclays U.K., Barclays U.K. Corporate Bank, Barclays Private Bank and Wealth Management, Barclays Investment Bank and Barclays U.S. Consumer Bank.

Persons: Venkatakrishnan Organizations: Barclays Plc, LONDON, Barclays, Reuters, Tesco Bank, Barclays U.K, Corporate Bank, Barclays Private Bank, Wealth Management, Barclays Investment Bank, Barclays U.S . Consumer Bank Locations: Canary, London, British

☆ Fed Chair Powell just said the labor market is getting vulnerable. Friday’s jobs report could prove why
▼ + stars: | 2024-08-01 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

CNN —The pandemic threw the US job market into chaos, but four years later, things finally seem to be back to normal. Most indicators support the idea that the labor market is no longer overheated and could easily maintain a new normal of steady, but slower growth. “This is a labor market that’s otherwise moderated,” Nick Bunker, director of North American economic research at Indeed, told CNN. Labor force participation/employment to population ratio: These metrics are key reasons why Bunker and others believe the labor market remains in good shape. The same goes for the prime-age labor force participation rate, which at 83.7% also is the highest in 23 years.

Persons: hasn’t, Jerome Powell, Nick Bunker, Powell, Nancy Vanden Houten, ’, “, ”, —, Madhavi Bokil, Indeed’s Bunker, Bunker, ” Elise Gould, ” Bunker, “ It’s, Julia Pollak, ” Pollak, can’t Organizations: CNN, Federal, of Labor, Challenger, Labor, Economic Policy Institute, ” Locations: Oxford

☆ Man dies after contracting Ebola-like tick-borne disease in Spain
▼ + stars: | 2024-07-30 | by ( Jack Guy | ) edition.cnn.com time to read: +4 min

CNN —A man has died from an Ebola-like disease named Crimean-Congo hemorrhagic fever (CCHF) after being bitten by a tick in Spain. The 74-year-old died of organ failure on Saturday in an isolation unit at the La Paz-Carlos III Hospital in the Spanish capital, Madrid, a spokesperson for the hospital told CNN on Monday. Spain has developed a national plan to deal with tick-borne diseases, including CCHF, but people should take action to avoid tick bites, Lorenzo-Morales said. Consuelo Giménez Pardo, a lecturer in medical parasitology at the University of Alcalá in Madrid, told CNN that “there will undoubtedly be more cases” of CCHF in Spain. “I expect that we will see more cases in the coming years,” Thomson told CNN on Monday.

Persons: Carlos, Jacob Lorenzo, Morales, Lorenzo, ”, Consuelo Giménez Pardo, Giménez, CCHF, Emma Thomson, “, ” Thomson Organizations: CNN, La Paz, Carlos III Hospital, World Health Organization, WHO, Canary Islands, Health, University of La, University of Alcalá, London School of Hygiene, Medicine Locations: Crimean, Congo, Spain, Spanish, Madrid, Móstoles, Toledo, Africa, Balkans, East, University of La Laguna, Western Europe, CCHF, Europe, ”, France

☆ ‘A point of no return:’ Why Europe has become an epicenter for anti-tourism protests this summer
▼ + stars: | 2024-07-27 | by ( Billy Stockwell | ) edition.cnn.com time to read: +9 min

CNN —Anti-tourism protests have been sweeping across Europe this summer, with demonstrations taking place in the Netherlands, Greece, and of course, Spain. When anti-tourism protesters started to fire water pistols at visitors in the Barcelona city center on July 6, a moment that gained international attention, Ramirez said he could “feel the resentment” in the air. Frankly, I think it worked,” Ramirez said, reflecting on the ability of the protests to dissuade tourists from visiting the city. Jaime Reina/AFP/Getty ImagesIt’s not just housing issues that have generated a backlash against tourists, Ramirez said, adding that the disrespectful behavior of some has also played a part. Bad tourist behavior has been a problem across other parts of Europe too, including Barcelona, Mallorca, Magaluf and Benidorm, Ramirez said.

Persons: Carlos Ramirez, Ramirez, ”, It’s, Jaume Collboni, Andrey Rudakov, ” Ramirez, Antje Martins, Eduardo Santander, Martins, “, € 2.4million, Marco Bertorello, Luigi Brugnaro, Susanna Polloni, ” Polloni, Collboni, ‘, ’, Jaime Reina, Bacchus, ” Sebastian Zenker, Zenker Organizations: CNN, Primavera Sound, skyrocketing, ”, Bloomberg, Barcelona’s City, University of Queensland, “, European Travel Commission, Getty, Solidarity Network for Housing, Palma de Mallorca, AFP, Copenhagen Business School Locations: Europe, Netherlands, Greece, Spain, Spanish, Barcelona, Mallorca, Southern Europe, Canary, Magaluf, Barcelona’s, Antje, “ Barcelona, €, AFP, Venice, “, Sagrada Familia, Palma de, Florence, Italy, Benidorm

☆ Exhausted at work, she spent four months in France and Spain on a $6,800 budget
▼ + stars: | 2024-07-26 | by ( Marylou Costa | Ulrike Lemmin-Woolfrey | ) www.cnbc.com time to read: +5 min

In 2023, Rowena Hennigan came to a difficult but necessary conclusion — she needed an extended break from work. That didn't leave much left for her travel budget, but Hennigan had a plan, she said. Hennigan spent the first few days on her own, before her husband and daughter joined her. The family plans to do another house sit in France during their summer holidays this year, she said. Total costs: around $300 (excluding Trusted Housesitters' annual membership fee of $240)The outcome of her four-month break

Persons: Rowena Hennigan, Hennigan, Spain —, France Hennigan Organizations: Gran Canaria Locations: Dublin, Hennigan, Zaragoza, Spain, Gran, Canary Islands, Spanish, Canfranc, France, Valencia, Formigal, Villembits, Tarbes

☆ Read the memo from CrowdStrike explaining how its update broke the world's computers
▼ + stars: | 2024-07-24 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +11 min

The issue on Friday involved a Rapid Response Content update with an undetected error. Rapid Response Content Testing and DeploymentRapid Response Content is delivered as content configuration updates to the Falcon sensor. This release followed all Sensor Content testing procedures outlined above in the Sensor Content section. Software Resiliency and TestingImprove Rapid Response Content testing by using testing types such as: Local developer testing Content update and rollback testing Stress testing, fuzzing and fault injection Stability testing Content interface testingAdd additional validation checks to the Content Validator for Rapid Response Content. Rapid Response Content DeploymentImplement a staggered deployment strategy for Rapid Response Content in which updates are gradually deployed to larger portions of the sensor base, starting with a canary deployment.

Persons: —, CrowdStrike Organizations: Delta Air Lines, Windows, Linux, IPC

☆ European markets to open lower as investors weigh regional bank and U.S. tech earnings
▼ + stars: | 2024-07-24 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

LONDON — European markets are set to open lower on Wednesday as earnings season ramps up. The U.K.'s FTSE 100 was last expected to open 25 points lower at 8,137, while Germany's DAX was set to shed 76 points to 18,472 and France's CAC 40 was expected to open 54 points lower at 7,540. Italy's MIB index was set to to open 62 points lower at 34,799. Deutsche Bank , UniCredit, BNP Paribas and Banco Santander are among the European banks reporting earnings on Wednesday, alongside Easyjet , Iberdrola and Orange. On the data front, flash purchasing managers' index data is due to be released in the U.K. and the euro zone.

Persons: Germany's DAX, Easyjet Organizations: Citigroup Inc, State Street Corp, Barclays Plc, HSBC Holdings Plc, CAC, Deutsche Bank, BNP, Banco Santander Locations: Wharf, UniCredit, Iberdrola, Orange, Germany

☆ Mass protest on Spanish island Mallorca calls for ‘limits on tourism’
▼ + stars: | 2024-07-22 | by ( Louis Mian | ) edition.cnn.com time to read: +2 min

CNN —Thousands of people took to the streets to protest against mass tourism on the island of Mallorca on Sunday as pushback against holidaymakers in Spain continued. ET) according to organizers Menys Turisme, Mas Vida (Less Tourism, More Life), although police put the figure at around 12,000, RTVE reported. Juan Medina/ReutersThe demonstration included around 110 groups and social movements, according to Spanish public broadcaster RTVE. It came amid growing tensions over the impact of tourism on local areas in Spain. In April, a hunger strike was called by locals in the Spanish Canary Islands, protesting against excessive tourism, which protesters said is pricing out locals and leading to environmental damage.

Persons: Jaime Reina, Menys, Mas, RTVE, ”, Juan Medina Organizations: CNN, Palma de Mallorca, AFP, Getty, Tourists, Reuters, RTVE, Spanish National Statistics Institute, Islands Locations: Mallorca, Spain, Palma de, Tourism, El Arenal, Balearic, Menorca, Ibiza, Formentera, Barcelona, Canary Islands

☆ This is what office towers could look like due to hybrid working
▼ + stars: | 2024-07-21 | by ( Polly Thompson | ) www.businessinsider.com time to read: +1 min

HSBC's London office will get a radical makeover due to hybrid working. The project shows how property owners are trying to adapt buildings for changing working patterns. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The rise of hybrid work means many companies now have largely empty offices in buildings that are worth far less than they were just a few years ago. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Service, Wharf, Business Locations: London

☆ Spanish town to fine tourists for hogging beach spots
▼ + stars: | 2024-07-19 | by ( Amarachi Orie | ) edition.cnn.com time to read: +1 min

CNN —While tourists in Barcelona risk being squirted with water pistols, those in the town of Calpe on Spain’s Mediterranean coast face another threat: a hefty fine for reserving space on the beach for themselves. Those who do not comply with this rule face being reported, their belongings being removed and fines of €250 euros (around $270). Chairs, hammocks and umbrellas that are left unattended for more than three hours during the day may be removed, the council said. In May, there were further crackdowns on party boats and public drinking on the islands of Ibiza and Mallorca. And in April, locals in the Canary Islands protested against excessive tourism, blaming visitors for pricing them out of their homes and causing environmental damage.

Persons: beachgoers Organizations: CNN, – Locations: Barcelona, Calpe, Benidorm, Spain, Ibiza, Mallorca, Canary

☆ Scientists confirm first lunar cave that could help shelter astronauts from the moon’s extreme temperatures
▼ + stars: | 2024-07-17 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +8 min

CNN —Scientists have long theorized the existence of lunar caves — underground passageways formed through volcanic processes that are connected to the pits covering the moon’s surface. Now, a team of international researchers has found the first direct evidence that the moon’s deepest known pit connects to a cave that could provide shelter to astronauts. “Lunar caves have remained a mystery for a long time. Future research and exploration of lunar caves could also provide new insight into the evolution of the moon and lunar volcanism, the authors note in the study. “Moreover, (lunar caves) can be an alternative or an integration to a base on the surface of the Moon,” he added.

Persons: ”, Leonardo Carrer, Lorenzo Bruzzone, —, Tyler Horvath, ” Horvath, Horvath, Paul Hayne, Hayne, ” Hayne, Carrer, Noah Petro, Petro, Artemis III, “ LRO, ” Petro Organizations: CNN —, NASA Lunar Reconnaissance, University of Trento, Remote, NASA, Lunar Reconnaissance Orbiter, University of California, Mare Tranquillitatis, University of Colorado, European Space Agency, Reconnaissance, Artemis Locations: United States, China, Italy, Los Angeles, Carrer, University of Colorado , Boulder, Hawaii, Canary Islands, Australia, Iceland

☆ Tracebit, a London-based cybersecurity startup, raised $5 million from Accel, using this 10 slide pitch deck
▼ + stars: | 2024-07-09 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

Tracebit has raised $5 million in seed funding to enhance cloud security solutions. Founded in 2022, Tracebit uses threat deception techniques to detect cloud security risks. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTracebit, a London-based cybersecurity startup, has raised $5 million in seed funding. Tracebit, cofounded in 2020 by the former head of engineering of security startup Tessian, uses threat deception techniques to identify security risks in the cloud.

Persons: Tracebit, — Organizations: Service, Business Locations: London

☆ Copenhagen to reward eco-friendly tourists with free food and tours
▼ + stars: | 2024-07-09 | by ( Jack Guy | ) edition.cnn.com time to read: +2 min

CNN —Visitors to Copenhagen who engage in environmentally-friendly activities such as litter picking or traveling on public transport could be rewarded with free food, cultural experiences and tours as part of a new pilot program. The CopenPay trial scheme, which runs between July 15 and August 11, involves “transforming green actions into currency for cultural experiences,” the Danish capital’s tourism authority Visit Copenhagen, also known as Wonderful Copenhagen, said in a statement Monday. This includes complimentary guided museum tours, free kayak rentals, and even a free vegetarian lunch made from local crops,” the Wonderful Copenhagen statement added. The Danish capital is popular with visitors for its pretty architecture, world-class food and a safe, clean, green environment. “With CopenPay, we’re empowering people to experience more of what Copenhagen offers while placing less burden on our planet,” said Mikkel Aarø Hansen, CEO of Wonderful Copenhagen, in a statement.

Persons: ”, Mikkel Aarø Hansen, “, Hansen Organizations: CNN, National Gallery, Copenhagen, Wonderful Locations: Copenhagen, Denmark, Wonderful Copenhagen, Barcelona, Mallorca

☆ Barcelona anti-tourism protesters fire water pistols at visitors
▼ + stars: | 2024-07-08 | by ( Jack Guy | ) edition.cnn.com time to read: +3 min

CNN —Protesters in Barcelona have sprayed visitors with water as part of a demonstration against mass tourism. Demonstrators marching through areas popular with tourists on Saturday chanted “tourists go home” and squirted them with water pistols, while others carried signs with slogans including “Barcelona is not for sale.”According to Barcelona's City Council, some 2,800 people demonstrated against mass tourism in the center of Barcelona on Saturday. Josep Lago/AFP/Getty ImagesAccording to official figures, almost 26 million visitors made an overnight stay in the Barcelona region in 2023, spending €12.75 billion ($13.8 billion). Protesters squirt water pistols during Saturday's protest. In April, locals in the Canary Islands mobilized to protest against excessive tourism, blaming visitors for pricing them out of their homes and causing environmental damage.

Persons: Lorena Sopêna, de, Josep Lago, Decreixement Turístic, Jaume Collboni, Collboni, Louis, Antoni Gaudí’s Organizations: CNN, Protesters, “ Barcelona, Barcelona's City Council, Europa Press, Assembly, Tourism Degrowth, Louis Vuitton, Antoni Gaudí’s Parc, Canary Locations: Barcelona, Spain, Canary, Mallorca, AFP, Antoni Gaudí’s Parc Güell

☆ An options trade that wins if the red-hot chip trade cools off in the second half
▼ + stars: | 2024-06-28 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +3 min

Although Micron (MU) has not had Nvidia's meteoric performance, it has been a stellar stock, doubling in the last year and up over 50% in 2024. The AI boom has buoyed memory chips higher as these chips have become a more important component for artificial intelligence accelerators. However, the possibly unrealistic bar now being set for AI earnings reports saw Micron drop more than 7% on high volume. I want to express a short-term bearish view in Micron as I believe further profit-taking will occur in the third quarter. Micron is one of the largest semiconductor companies in the world, specializing in high-bandwidth memory and storage chips.

Persons: Long Organizations: Micron, Nvidia, JPMorgan, MU, CNBC, NBC UNIVERSAL Locations: CapEx

☆ HSBC, Virgin Money and Nationwide customers suffer online banking outage
▼ + stars: | 2024-06-28 | by ( ) www.cnbc.com time to read: +1 min

Customers of HSBC , Nationwide and Virgin Money suffered outages to their online banking services on Friday, in the latest such disruption to plague an industry which increasingly relies on such digital access as it closes physical branches. Thousands of HSBC customers in Britain were unable to access online banking services on Friday, as the bank acknowledged an outage affecting some users of its website and banking app. The bank said at 1115 GMT it had restored access to online and mobile banking, after more than 7,000 customers had complained of problems, according to website DownDetector which tracks such outages. Virgin Money said some of its customers could not access online and mobile banking, while Nationwide said some customers' salary or pension payments were delayed. Some 6,000 branches have closed in Britain since 2015, according to consumer publication Which?.

Persons: Virgin Money Organizations: Citigroup Inc, State Street Corp, Barclays Plc, HSBC Holdings Plc, HSBC, Nationwide, Virgin Money, Virgin Locations: Wharf, Britain

☆ Barcelona ending apartment rentals by foreign tourists
▼ + stars: | 2024-06-24 | by ( ) edition.cnn.com time to read: +3 min

The city’s leftist mayor, Jaume Collboni, said that by November 2028, Barcelona will scrap the licenses of the 10,101 apartments currently approved as short-term rentals. The boom in short-term rentals in Barcelona, Spain’s most visited city by foreign tourists, means some residents cannot afford an apartment after rents rose 68% in the past 10 years and the cost of buying a house rose by 38%, Collboni said. Local governments have announced restrictions on short-term rentals in places such as Spain’s Canary Islands, Lisbon and Berlin in the past decade. Vacation rentals platform Airbnb, which hosts a significant number of Barcelona listings, did not immediately respond to a request for comment. “Collboni is making a mistake that will lead to (higher) poverty and unemployment,” Barcelona’s tourist apartments association APARTUR said in a statement, adding the ban would trigger a rise in illegal tourist apartments.

Persons: Jaume Collboni, ” Collboni, Spain’s, Collboni, Isabel Rodriguez, “, ”, APARTUR Organizations: CNN —, Barcelona Locations: CNN — Barcelona, Spanish, Barcelona, Spain, Europe, Islands, Lisbon, Berlin

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