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☆ A sports drinks turf war could determine whether beverage stocks bounce back in 2024
▼ + stars: | 2024-01-06 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

The rise of Prime comes at a time when key beverage stocks are struggling for traction. PEP 1Y mountain Shares of Pepsico have fallen over the past 12 months, along with its two main peers. Pepsi, for instance, is pushing newer versions of Gatorade with Gatorade Zero, G-Fit and Gatorlyte, as well as the Fast Twitch energy drink. Where to invest The exact impact of sports drinks on beverage stocks can be hard to determine. The big three companies do not break out the financials for their sports drink brands individually, and any impact could be outweighed by other categories, like Pepsi's snack foods.

Persons: Ramon Laguarta, —, Logan Paul —, Laguarta, Dr Pepper, Lauren Lieberman, Lieberman, There's, Z'ers, Gerald Pascarelli, Pascarelli, Keurig Dr Pepper, Electrolit Organizations: Pepsico, YouTube, Pepsi, Gatorade, Coca, PEP, Barclays, Holdings, CNBC, Nielsen, Grupo PiSA, Keurig Locations: United States, Mexican, Electrolit, LSEG

The results of the Program for International Student Assessment – the first assessment to examine the academic progress of students in math, reading and science in dozens of countries since the outset of the pandemic – marked historic setbacks for children globally. Students hadn’t recorded a change of more than five points in either subject since the exam was first administered in 2000. The COVID-era setbacks spared none, affecting wealthy countries and poor countries and even those long recognized as academic powerhouses. The slumping scores among American students largely mirror results seen on national assessments in recent years. “At an extremely tough time in education, the United States moved up in the world rankings in reading, math, and science – all three categories PISA measures – while, unfortunately, many other countries saw declines.”

Persons: ”, Peggy Carr, hadn’t, Jordan, ” Carr, Miguel Cardona, Donald Trump, “, ” Cardona Organizations: Program, National Center for Education Statistics, U.S . Education Department, “, Organization for Economic Cooperation, Development, Education, Republican Party Locations: U.S, PISA, Albania, Iceland, Norway, Finland, Poland, Singapore, Japan, China, Estonia, Canada, Ireland, United States, –

☆ The Garisenda 'leaning tower' in Bologna, Italy, is on 'high alert' for collapse
▼ + stars: | 2023-12-01 | by ( Julia Buckley | ) edition.cnn.com time to read: +7 min

CNN —It’s the ‘leaning tower’ that has stood tipsily – but steadily – for nearly 1,000 years. But now, the days of the Garisenda tower in Bologna, Italy, could be numbered. Following investigations last month, the city is instigating a civil protection plan for the “sudden and unexpected collapse of the tower,” which has dominated the Bologna skyline since the 12th century. The Garisenda leans at an angle of four degrees – only a little more upright than the Leaning Tower of Pisa’s five degrees. “The overall situation has unfortunately worsened considerably, with worrying implications for the overall stability of the tower,” reads the report.

Persons: we’ll, Stanley Tucci, CNN —, “, ”, Dante, Michele Lapini, Garisenda, Matteo Lepore, ‘ Organizations: CNN, intel, Bologna’s, Bologna, UNESCO Locations: Bologna, Italy, Manhattan

MILAN (AP) — Record-breaking rain produced floods in a vast swath of Tuscany as Storm Ciarán pushed into Italy overnight Friday, trapping residents in their homes, inundating hospitals and overturning cars. At least three people were killed, bringing the storm’s death toll in western Europe to 10. Other regions were on high-alert and authorities warned that the storm was heading toward southern Italy. Ciarán left at least seven people dead as it swept across Spain, France, Belgium, the Netherlands and Germany on Thursday. Political Cartoons View All 1233 ImagesAs the storm moved on, it left hospitals flooded in Italy's Pisa and Mugello.

Persons: Storm Ciarán, Ciarán, Matteo Biffoni, Florence Mayor Dario Nardella, Arno, Nardella Organizations: MILAN, Florence, Sky Locations: Tuscany, Italy, Europe, Livorno, Mugello, Prato, Florence, Veneto, Venice, Spain, France, Belgium, Netherlands, Germany, Italy's Pisa

☆ Storm Ciarán: At least six dead and several missing as torrential rain and strong winds lash Italy
▼ + stars: | 2023-11-03 | by ( Barbie Latza Nadeau | ) edition.cnn.com time to read: +3 min

Rome, Italy CNN —At least six people have died in Tuscany, according to the region’s president, after torrential rain and strong winds from Storm Ciarán swept northern and central Italy overnight Thursday. A man walks in the mud in Montemurlo, near Prato, after torrential rain hit the area, on November 3, 2023. It asked people to leave nearby areas and remove vehicles near river banks. Helicopters, land vehicles, water pumps, buses and also the Comsubin [submarine search vehicles] for search and rescue activities,” he said in a statement Friday morning. Storm Ciarán has pummeled parts of western Europe since Wednesday night with strong winds and torrential rain.

Persons: Storm Ciarán, Eugenio Giani, Giani, Federico Scoppa, Arno, Guido Crosetto, ”, Olivier Véran, Friederike Otto, CNN’s Laura Paddison, Pierre Bairin, James Frater, Delal Mawad, Eve Brennan Organizations: Italy CNN —, Storm, Getty, CNN, Defense, Armed Forces, Belgium —, Grantham Institute, Imperial College London Locations: Rome, Italy, Tuscany, Veneto, Prato, Florence, Montemurlo, AFP, Pontedera, Pisa, Milan, Como, Sardinia, Lazio, Europe, France, Belgium

☆ A Leaning Tower in Italy (Not Pisa) Becomes a Worry
▼ + stars: | 2023-10-30 | by ( Gaia Pianigiani | More About Gaia Pianigiani | ) www.nytimes.com time to read: +1 min

The Garisenda Tower in Bologna is not as famous as the Tower of Pisa, but it leans a little more. Lately, though, the dynamic of its movement has become worrisome, and city officials decided recently that the central square where it stands a few meters apart from the much taller Asinelli Tower will be closed off, most likely for years. The tower, which, along with the Asinelli Tower, makes up the “two towers,” a symbol of the city, has historically slanted four degrees. But recent surveys have found traces of unexpected rotation in its incline and other imperceptible movements that need to be studied more carefully, the authorities said. “The point is not that the tower is collapsing,” Mayor Matteo Lepore of Bologna said in a phone interview.

Persons: Matteo Lepore, Bologna, “, ” Locations: Bologna, Pisa

REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsLONDON, Oct 27 (Reuters) - The steepest jump in interest rates in decades will spark a domino effect on corporate defaults in the years ahead, asset manager Janus Henderson Investors said in a report on Friday. Rising borrowing costs are back in stark focus following a rout in government bonds since September as investors adjust to the prospect of interest rates staying persistently high, which has also raised corporate bond yields. "The credit cycle tends to turn only if three conditions are present: high debt loads, lack of access to capital, and an exogenous shock to cash flow. These conditions ... are all present today," Janus' global head of fixed income Jim Cielinski said. But as inflation starts slowing and higher rates are here to stay, headwinds are mounting, and the risk is that the increase in borrowing costs could outpace revenue growth, it added.

Persons: Wolfgang Rattay, Janus Henderson, Janus, Jim Cielinski, ”, Chiara Elisei, Yoruk Bahceli, Mark Potter Organizations: European Central Bank, European Union, REUTERS, Janus Henderson Investors, P Global Market Intelligence, Thomson Locations: Frankfurt, Germany

☆ Bologna's 'leaning' tower, the Garisenda, closed off amid subsidence fears
▼ + stars: | 2023-10-25 | by ( Julia Buckley | ) edition.cnn.com time to read: +5 min

And now the medieval Garisenda “leaning” tower in Bologna is sparking very modern publicity, with concern that it might be subsiding. But it leans at an angle of four degrees – only a little more upright than the Leaning Tower of Pisa, set at a tipsy five-degree angle. Shortened in later years, it sits in the city center beside the Asinelli – a tower twice the height, which tourists can climb. Lepore said that the tower “has been leaning for several centuries, and it has been the subject of various interventions over decades.”The Garisenda, seen next to the higher Asinelli tower, leans at a four-degree angle. Lepore represents the center-left Democratic Party, and his council opposition has cast him as failing to protect the tower.

Persons: we’ll, Stanley Tucci, CNN — Dante Alighieri, Charles Dickens, Dante, Matteo Lepore, ”, Lepore, Genoa’s, ” Lepore, “, Lucia Borgonzoni, Borgonzoni, Fabio Bergonzini Organizations: CNN, intel, Northern League, Democratic Party Locations: Italy, Bologna, Manhattan, Pisa, Emilia, Romagna, Lepore, “

☆ The Power of Having the Same Teacher Twice - The New York Times
▼ + stars: | 2023-10-22 | by ( Adam Grant | ) www.nytimes.com time to read: +3 min

But in the data, looping actually had the greatest upsides for less effective teachers — and lower-achieving students. The Finnish and Estonian education systems are far from perfect, and Finland’s PISA scores have dipped a bit in recent years. Teachers don’t have to waste time teaching to the test. Great education systems create cultures of opportunity for all. And there are few better ways to do that than to keep students with teachers who have the time to get to know their abilities.

Persons: Snape, Viola, — they’ve, don’t, Pasi Sahlberg Organizations: Finland’s Locations: Estonian, Finland’s PISA, Finland, Estonia, PISA ., U.S

☆ Ryanair to cut flights this winter due to Boeing delivery delays
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

Sept 28 (Reuters) - Ryanair (RYA.I) announced on Thursday cuts to its winter schedule due to delays in the delivery of Boeing (BA.N) aircraft, but Europe's largest airline by passenger numbers said its full-year traffic forecast was unaffected "as yet". Ryanair said in a statement that it had expected to receive delivery of 27 aircraft between September and December. But due to production delays at the Spirit Fuselage facility in Wichita, Kansas, combined with Boeing repair and delivery delays in Seattle, it now expects to receive only 14 aircraft during the three-month period. "At this early date, we do not expect these delivery delays will materially affect our full-year traffic target of 183.5 million,” Group Chief Executive Michael O'Leary said. Ryanair had expected delivery of 57 Boeing aircraft between September 2023 and May 2024.

Persons: Michael O'Leary, Yadarisa, Conor Humphries, Nivedita Bhattacharjee, Sharon Singleton, Susan Fenton Organizations: Ryanair, Boeing, ”, East, Porto, Thomson Locations: Wichita , Kansas, Seattle, Charleroi, Belgium, Dublin, Bergamo, Naples, Pisa, East Midlands, Portugal, Cologne, Germany, Bengaluru

☆ Boeing delivery delays disrupt Ryanair flights again
▼ + stars: | 2023-09-28 | by ( ) edition.cnn.com time to read: +2 min

However, production delays at the Spirit Fuselage facility in Wichita, Kansas, combined with Boeing’s repair and delivery delays in Seattle, meant the budget airline now expects to receive only 14 aircraft between October and December. “At this early date, we do not expect these delivery delays will materially affect our full-year traffic target of 183.5 million [passengers],” Ryanair chief executive Michael O’Leary said. Asked if it could confirm the delays and when deliveries would be up to date, a spokesperson for Boeing said that the planemaker valued its partnership with Ryanair and was committed to supporting the airline. Ryanair already trimmed its full-year passenger forecast from 185 million in July, citing potential Boeing delays, as well as the impact of air traffic control strikes. Ryanair executives had said deliveries had “significantly improved” before Boeing discovered a production flaw last month that has slowed deliveries of its best-selling 737 MAX aircraft.

Persons: Michael O’Leary, O’Leary Organizations: Ryanair, Boeing, East, Porto Locations: Wichita , Kansas, Seattle, Charleroi, Belgium, Dublin, Ireland, Bergamo, Naples, Pisa, East Midlands, Portugal, Cologne, Germany

☆ Inside the crucial final hours as American diplomats tackled last minute obstacles to bring five Americans imprisoned in Iran home
▼ + stars: | 2023-09-21 | by ( Jennifer Hansler | ) edition.cnn.com time to read: +7 min

Senior State Department officials spoke to CNN about what happened on the condition of anonymity to discuss the sensitive details. The Iranians even threatened not to include all five of the Americans in the release unless the US did more, the officials told CNN. “We held our line and the Iranians backed down and we made it work,” a senior State Department official said. But the Qatari officials, in a smooth diplomatic maneuver, countered that they would be offended if everyone did not eat while on board the Qatari plane and an agonizing final delay was avoided. ET, the US plane carrying the seven Americans, Carstens, Paley and other US officials departed Doha en route to the US.

Persons: Iran Abram Paley, Hostage Affairs Roger Carstens, “, ”, didn’t, “ They’re, “ We’ve, “ couldn’t, Morad, Emad Shargi, Effie, Vida, Siamak, Karim Jaafar, Carstens, Paley, Antony Blinken, Blinken, Joe Biden, ” Shargi Organizations: CNN, Senior State Department, Hostage Affairs, Qatari, Swiss, State Department, Central Bank, Doha International Airport, Getty, Defense, “ CNN Locations: United States, Iran, Tehran, Doha, South Korea, Qatar, Emad Sharqi, AFP, Washington, DC, Fort Belvoir , Virginia, PISA, Fort Belvoir

☆ Iran prisoner release: Five Americans back on US soil after release from Iranian detention
▼ + stars: | 2023-09-19 | by ( Jennifer Hansler | ) edition.cnn.com time to read: +3 min

CNN —Five Americans freed from Iranian detention this week returned to US soil early Tuesday following an initial stop in Doha, Qatar, two US officials told CNN. Yay Abram!”Then the freed American detainees stepped off the plane and onto US soil for the first time in more than five years and into the arms of their loved ones, some of whom rushed forward to greet them, carrying small American flags. “We’re home,” Emad Shargi said after embracing his daughters, Hannah and Ariana, and stroking his wife Bahareh’s face. And I know a lot of you are going to maintain the fight to try to bring more Americans home,” he said. Namazi’s mother, Effie Namazi, and Tahbaz’s wife, Vida Tahbaz, who had been previously unable to leave Iran, were also on the flight from Iran to Doha, the official said Monday.

Persons: Emad, Morad, Siamak, Hostage Affairs Roger Carstens, Iran Abram Paley, “, Roger ! Yay Abram, ”, Emad Shargi, Hannah, Ariana, Bahareh’s, other’s, Carstens, Effie Namazi, Vida Tahbaz, Joe Biden, Biden Organizations: CNN — Five, CNN, Fort Belvoir’s Davison Army, Department of Defense, Hostage Affairs, Qatari, Washington, Monday, Biden Locations: Doha, Qatar, Fort, PISA, United States, Iran, Tehran, DC, American

Fundraising and deal-making have dropped sharply at European private debt funds, new data shows. Faisal Ramzan, a partner at law firm Proskauer Rose who advises private credit funds, said he was not seeing default. "There's plenty of dry powder," said Fidelity International's head of private credit strategies Michael Curtis, referring to capital raised already. Joanna Layton, managing director of European private credit at Alcentra, one of Europe's largest private debt managers, added there was "no rush" to deploy capital. High rates have also made private credit less appealing to institutional investors, analysts said.

Persons: Henry Nicholls, Francesco Sandrini, BoE, Andrew Cruickshank, Cruickshank, Pictet, Patrick Marshall, Faisal Ramzan, Proskauer Rose, Michael Curtis, Joanna Layton, Mark Brenke, Ardian, Chris Sier, Sier, Dhara Ranasinghe, Catherine Evans Organizations: City, REUTERS, Reuters Graphics Reuters, The Bank of, European Central Bank, Graphics, Deloitte, Fitch, Federated Hermes, Fidelity International, ClearGlass, Thomson Locations: London's, London, Britain, The Bank of England

☆ UK air traffic control failure: Disruption to last for ‘days’
▼ + stars: | 2023-08-29 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +4 min

CNN —Travelers have been warned that the chaos brought about by a UK air traffic control failure earlier this week will continue for days. After waiting at the airport for an update, Palladino, who lives in the UK, was informed that the flight was canceled. “Due to yesterday’s technical issues suffered by UK Air Traffic Control, there may be some continuing disruption on some routes, including flight cancellations,” reads a statement from London’s Heathrow Airport on Tuesday. Passengers are however advised to check the status of their flight with the airline before travelling to the airport. “Our priority is always to ensure that every flight in the UK remains safe and we are sincerely sorry for the disruption this is causing.

Persons: Mark Harper, ” Harper, NATS, Rosa Palladino, Palladino, ”, Lee Vanstone, “ Organizations: CNN — Travelers, Transport, BBC, Air Traffic Services, CNN Travel, Gatwick Airport, Pisa Airport, UK Air Traffic Control, Gatwick, Gatwick LGW, British Airways Locations: Naples, Italy, Pisa

London CNN —Air passengers across Europe faced delays on Monday on one of the summer’s busiest travel days after the UK’s air traffic control system suffered a “technical issue” resulting in restrictions on flights. “Our priority is always to ensure that every flight in the UK remains safe and we are sincerely sorry for the disruption this is causing. A spokesperson for Manchester Airport, in northern England, told CNN: “We are aware of a nationwide air traffic control issue that is affecting flights in and out of airports across the country. Ireland’s air traffic control service provider AirNav had said that there were “significant delays” to flights traveling within UK airspace on Monday. “Flights between Ireland and UK airports, and flights traveling to or from Ireland that travel through UK airspace are experiencing significant delays,” it said.

Persons: NATS, Lee Vanstone, ike W, ingle Organizations: London CNN — Air, Air Traffic Services, ”, Pisa Airport Locations: Europe, Pisa, Pisa Airport

☆ Portugal is the best European country for retirement based on cost of living, healthcare and more
▼ + stars: | 2023-08-19 | by ( Celia Fernandez | ) www.cnbc.com time to read: +3 min

1 best country in Europe to retire is Portugal. 1 best country in Europe for retirement: PortugalRetirement score: 7.83 Portugal is the best country in Europe for retirement. Portugal ranked as the best country to retire, according to the Moving to Spain report. 2 best country in Europe to retire. Italy tied with Spain as the second best country to retire.

Persons: It's, Alexander Spatari, Pol, Trevi Organizations: Global Citizens Solutions, UNESCO, Heritage, Portugal, Greece Bulgaria France Slovenia Croatia Malta Ireland, Med, World Bank, World Health Organization Locations: Spain, Europe, Portugal, U.S, SmartAsset, Alto Douro, Pico, Azores, Portugal Spain, Italy, Greece Bulgaria France, Madrid, Barcelona, Valencia, United States, Pisa

☆ The Leaning Tower of Pisa was once tilting dangerously. Today it’s a different story
▼ + stars: | 2023-08-09 | by ( Sharon Braithwaite | ) edition.cnn.com time to read: +3 min

Pisa, Italy CNN —The Tower of Pisa was once feared on the brink of collapse as the lean that made it such a popular landmark threatened its very existence. Trouble from the startExperts say the future of the tower is secure following remedial work to keep it standing. Earth was extracted from beneath the foundations of the Leaning Tower of Pisa to help reduce its tilt. Thanks to an agreement between Italy’s Ministry of Cultural Heritage and OPA, experts integrate satellite monitoring with data collected at ground level. The progress of these terrestrial and satellite monitoring activities will be presented next year, as part of the series of events scheduled to celebrate the tower’s 850th anniversary.

Persons: ” Andrea Maestrelli, Berta, Pisa Giovanni Paolo Benotto, Ignacio Palacios, Giulio Andreini, ”, Roberto Cela Organizations: Italy CNN, “, Opera, UNESCO, Getty, Italy’s Ministry, Cultural Locations: Pisa, Italy

☆ Ancient whale from Peru may be most massive animal ever on Earth
▼ + stars: | 2023-08-02 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

Giovanni Bianucci/Handout via REUTERSAug 2 (Reuters) - Move over, blue whale. The biggest-known blue whale weighed around 190 tons, though it was longer than Perucetus at 110 feet (33.5 meters). Its skeletal mass alone was estimated at between 5 and 8 tons, at least twice that of the blue whale. The researchers suspect Perucetus lived like sirenians - not an active predator but an animal that fed near the bottom of shallow coastal waters. The researchers said it was unlikely Perucetus was a filter-feeder like today's baleen whales including the blue whale.

Persons: Giovanni Bianucci, Perucetus, Bianucci, Olivier Lambert of, Will Dunham, Rosalba O'Brien Organizations: REUTERS, University of Pisa, Royal Belgian Institute of Natural Sciences, Thomson Locations: Peru, Handout, Italy, Argentina, sirenians, Brussels, hoofed, Washington

☆ Whale fossil may be the heaviest animal ever
▼ + stars: | 2023-08-02 | by ( Kristen Rogers | ) edition.cnn.com time to read: +7 min

CNN —A colossal ancient whale discovered in Peru might be the heaviest animal on record, according to a new study. What’s more, Perucetus likely weighed two to three times more than the blue whale, which today weighs a maximum of 149.6 metric tons (330,000 pounds). Giovanni Bianucci“Discoveries of such extreme body forms are an opportunity to re-evaluate our understanding of animal evolution,” wrote J.G.M. “It seems that we are only dimly aware of how astonishing whale form and function can be,” they added. The lifestyle of a colossal whaleThe findings suggest that gigantism or peak body mass among cetaceans had been reached around 30 million years earlier than previously thought, according to the study.

Persons: Giovanni Bianucci, “, ” Bianucci, Perucetus, ”, ’, Bianucci, pacificus, Mystacodon selenesis, Mario Urbina Schmitt, Schmitt, Thewissen, David A, Waugh, weren’t, Ingalls, Brown, ” Thewissen Organizations: CNN, University of Pisa’s, sirenians, Peru “, National University of San, Ohio Medical University Locations: Peru, Italy, Ica, Peruvian, National University of San Marcos, Lima

☆ Harvard professor Francesca Gino was accused of faking data. Now her million-dollar empire is crumbling — and scholars are eyeing who's next.
▼ + stars: | 2023-08-01 | by ( Kate Taylor | ) www.businessinsider.com time to read: +22 min

"We believe that many more Gino-authored papers contain fake data," the Data Colada professors wrote. Data Colada found that the raw data showed clear anomalies, such as a distribution infinitely more likely to be produced by a random-number generator than actual people. Soon after, Data Colada ran an article alleging that Gino tampered with data in at least one of her honesty-pledge experiments. A post on Data Colada or a tweet from Brown is like a bomb going off in the behavioral-science world. Others who attempted to build on Gino's studies are grappling with having wasted time, money, and energy.

Persons: It's, Francesca Gino, Gino, Michael Sanders, Greg Burd, —, Hugo Boss, Gino coauthoring, Swarthmore College's Bhanot, Maurice Schweitzer, Simine Vazire, Sanders, Goldman Sachs, Schweitzer, they'd, Uri Simonsohn, Joe Simmons, Leif Nelson —, Data Colada, Dan Ariely, Ariely, Chris Goodney, Harvard, Colada, Nick Brown, Brown, Jeff Lees, Lees, There's Ariely, Brian Wansink's, HBS's Amy Cuddy's, Cuddy, Amy Cuddy's, Marie Claire's, Allison Williams, Astrid Stawiarz, Marie Claire Simonsohn, Simmons, Nelson, they're, Gordon Pennycook, Pennycook, it's, Bhanot Organizations: TED, Twitter, LinkedIn, Harvard, Wharton, Swarthmore College, Harvard Business School, Alaska Airlines, King's College London, Tione, University of Trento, Sant'anna, Studies, Carnegie Mellon University, University of North, Wired, Forbes, Google, Swarthmore, University of Melbourne, Disney, Lavin Agency, Data, Duke University, who's, NBC, BuzzFeed News, Bloomberg, Getty, Privately, Higher Education, Hill, Duke, US Department of, Cornell University, New York Times Locations: Trento, Pisa, University of North Carolina, HBS, Guatemala, Boston, New York, British, Guatemalan

REUTERS/Dado Ruvic/IllustrationLONDON, July 28 (Reuters) - Corporate credit quality is weaker than financial markets currently price in, while defaults are likely to pick up in the second half of the year, a report by Janus Henderson Investors said on Friday. Tighter lending standards, higher refinancing costs and a slowing economy would take their toll on the credit quality of corporates, the report said. This suggests that defaults could pick up in the second half, even if the pace of defaults is slower than in previous cycles, it added. Additionally, a recent trend of small businesses being forced to file for bankruptcy is likely to spread more broadly into capital markets, Janus Henderson noted. "As recession fears scaled back, markets have been pricing in a more muted credit default cycle.

Persons: Dado Ruvic, Janus Henderson, Jim Cielinski, Chiara Elisei, Dhara Ranasinghe, Conor Humphries Organizations: REUTERS, Janus Henderson Investors, P Global, U.S, Casino, Thomson Locations: industrials

☆ Smart ways to save money in Europe this crazy, crowded summer
▼ + stars: | 2023-07-15 | by ( Terry Ward | ) edition.cnn.com time to read: +12 min

“Last-minute flight prices, especially international ones, are expensive,” says Katy Nastro of Going.com (formerly Scott’s Cheap Flights) about airfares from North American to Europe. “Their best value comes when cash prices are high, and there’s no time more expensive than last-minute summer travel,” Nastro says. CNN Travel talked to travel agents, experts and expert travelers, too, for their tips on saving money on European travels this unprecedented summer. “Most travelers going to Europe have a few destinations in mind, “ says Henley Vazquez, co-founder of luxury travel advisor group Fora. These places he calls “the Chicagos of Europe” include Marseille in France, Hamburg in Germany and Liverpool in England.

Persons: CNN —, “, Katy Nastro, you’ll, Nastro, you’ve, ” Nastro, Hevelyn Villar Silva, Hevelyn Villar, ”, Colleen McDaniel, Henley Vazquez, Fora, ” Eurail, Eurail, Ethan Williams, Austria’s, Georgia Bird, Rome Ciampino, Rome Fiumicino, snagging, Ignacio Eguren, ” Eguren, Eguren, Booking.com, aren’t, Rick Steves, ” Steves, Steves, … Organizations: CNN, Cruise, Magnifica, MSC Cruises, MSC Magnifica, Caribbean’s Symphony, Palma de Mallorca, Milan Central Station, Getty, Czech Railways, Saint, Alamy, “, Smart, Library, Rembrandt, Best, Premier Faubourg, CNN Travel, Liverpool, Scala, Scala Santa Holy, Scotsman Locations: Europe, North American, ”, Tampa , Florida, Genoa, Valencia, Spain, Pisa, Portofino, Italy, France, Palma de, Athens, Svalbard, Bergen, Norway, “, Germany, Czech, Czech Republic, Rome, Saint Martin, Paris, mauritius, Checkin Cantabria, Cantabria, Paris ’, Copenhagen, you’ll, Oslo, Marseille, Hamburg, England, Scala Santa

Specialist asset managers minted CLOs worth more than half a trillion dollars in 2021, a year of heavy post-pandemic monetary stimulus. S&P Global estimates that more than one in 25 U.S. businesses and almost one in 25 European companies will default by March 2024. That has squeezed equity returns, and without equity investors, CLOs cannot be put together. S&P calculates that while CLO equity investors were able to get a 15% annual return before 2022, deals priced now would offer about 7%. "The (CLO) equity doesn't make enough money to justify buying it."

Persons: Florence Lo, CLOs, Morgan, Rob Shrekgast, KopenTech, Neha Khoda, It's, Marta Stojanova, You've, Aza Teeuwen, Laila Kollmorgen, Kollmorgen, tranches, BoFA, Naomi Rovnick, Chiara Elisei, Dhara Ranasinghe, Alexandra Hudson Organizations: REUTERS, Bank of America, Casino, Bed, TwentyFour, PineBridge Investments, Alexandra Hudson Our, Thomson Locations: CLOs, U.S

[1/2] The HSBC headquarters is seen in the Canary Wharf financial district in east London February 15, 2015. The ripple effects of so many companies slashing office space has significantly impacted wider markets. 'GENIE OUT OF THE BOTTLE'HSBC for its part has one of the most aggressive targets to cut office space among major employers, with a commitment to axe around 40% globally. Canary Wharf Group, the Docklands commercial landlord, declined to comment. One of the Canary Wharf estate's newer developments, the YY building - a recently completed redevelopment of Thomson Reuters' former headquarters opposite Canary Wharf station - remains vacant, Bloomberg has reported.

Persons: Peter Nicholls, Tony Travers, Travers, Knight Frank, Weil, Gerardine Davies, HSBC's, Moody's, YY, Andrew Mawson, Iain Withers, Chiara Elisei, Sinead Cruise, Paul Sandle, Mark Potter Organizations: HSBC, REUTERS, Companies, London School of Economics, of, Perenna Capital Management, BT, UBS, City of London Corporation, Canary, Canary Wharf Group, Docklands, Thomson Reuters, Bloomberg, Workplace Associates, Employees, Thomson Locations: Canary, London, St Paul's Cathedral, of London, Real, Sweden, Aldgate, City, Swiss, Docklands, Canary Wharf

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