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☆ Opinion: The people Olympic host cities don’t want you to see
▼ + stars: | 2023-10-19 | by ( Opinion David Goldblatt | ) edition.cnn.com time to read: +9 min

A Japanese policeman checks the signs to be used during the opening parade at the Olympic Games in Tokyo, 1964. Police officers stand guard at the rowing and kayak competitions venue at Lake Lanier near Gainesville, Georgia, ahead of the 1996 Olympic Games. Helsinki, which built the first permanent Olympic Village in 1952, created a successful and architecturally distinguished neighbourhood of social housing. Barcelona’s 1992 Olympic Village became the epicentre of a process of beachside gentrification and soaring house prices. Until that changes, we can expect the staging of future Olympic Games to look the same.

Persons: David Goldblatt, Read, David Goldblatt David Goldblatt, Douglas Miller, Charles Platiau, dockets, Buda Mendes, Barcelona’s, Urman Lionel, Denis Organizations: CNN, Olympic, Hulton, Getty, LAPD, Atlanta, Police, Housing Rights, Pan American Games, Rio de, City Council, Melbourne Olympic Games, Asahi Shimbun, City, Games, International Olympic Committee, Olympic Games Locations: British, Paris, Berlin, Roma, Tokyo, Moscow, Los Angeles, Lake Lanier, Gainesville , Georgia, Atlanta, Seoul, Beijing, Rio de Janeiro, Rio, Brazil, Buda, Helsinki, Melbourne, Japan, Australia, Mexico, Athens, Portakabins, London

☆ How 100,000 Apartments in New York City Disappeared
▼ + stars: | 2023-10-19 | by ( Mihir Zaveri | More About Mihir Zaveri | ) www.nytimes.com time to read: +1 min

The rate of combinations ramped up in the 1990s as the city came out of an economic crisis. “I’m not trying to begrudge folks who are trying to build a larger apartment as their families grow,” said Adam Brodheim, a preservationist who did the research. “I’m trying to bring attention to the way these actions across the entire city make a meaningful impact on our housing crisis.”On some streets, many buildings that were built a century or more ago as single-family homes and split during the 1900s into multiple units have once again become single-family homes. In the rowhouses on West 88th Street between Amsterdam Avenue and Columbus Avenue, there are about 173 units. That compares with more than 400 units on the same street in the 1950s and 1960s, according to Mr. Brodheim, who is also a member of Open New York, a nonprofit that advocates for more development.

Persons: “ I’m, ”, Adam Brodheim, Brodheim Organizations: Open Locations: Manhattan, Brooklyn, Amsterdam, Columbus, York

☆ Make these 6 moves now to capitalize on one of the best long-term investing outlooks in over a decade, according to JPMorgan's $2.9 trillion asset management arm
▼ + stars: | 2023-10-19 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

Investors shouldn't be scared off by slower economic growth caused by higher-for-longer interest rates and inflation, according to JPMorgan Asset Management (JPMAM). For reference, JPMAM called for forward long-term returns of 4.3% in 2021. The firm added that productivity gains from AI will likely add a tenth of a percentage point to global growth in the next decade. The long-awaited reversal for international stocks won't happen overnight, JPMAM strategists said. The firm is highly optimistic about the asset class after its brutal multi-year selloff and expects 4.6% and 5.1% long-term returns for those groups, respectively.

Persons: it's, JPMAM, David Kelly, Kelly, Monica Issar, Grace Koo, —, they're, Bob Michele, who's, he's, Bonds, REITs Organizations: Asset Management, Federal Reserve, European Central Bank, US, JPMorgan, Management, Fed, JPMorgan Asset Management, Investors Locations: Europe, Australasia, Real

☆ NYC Airbnb crackdown heats up: First property manager sues the short-term-rental giant under new rules
▼ + stars: | 2023-10-19 | by ( Dan Latu | ) www.businessinsider.com time to read: +4 min

A property manager is suing their tenant for listing a rental on Airbnb citing the city's new rules. It's a test of how effective the strict licensing requirements are for short-term rentals in NYC. AdvertisementAdvertisementNew York City's new short-term-rental regulations are being put to the test, raising the question of whose job it is to enforce the crackdown. AdvertisementAdvertisementBut the property manager also blames Airbnb for letting the rental advertise on the platform in the first place. Licenses are a popular tool for regulations, as cities from Memphis to Montreal crack down on short-term rentals.

Persons: It's, —, They've, Airbnb, Michael A, Rosenberg, Pensabene, Brian Chesky Organizations: Service, Canvas, Apple, New Locations: New York City, New York County, Airbnb, Memphis, Montreal, Philadelphia, New York, Paris

He was a violinist who became a soldier with Ukraine’s special forces. “We did it so that people in Ukraine and in occupied Crimea don’t lose spirit and keep faith in Crimea returning to Ukraine,” Muzykant said. Russian forces illegally annexed Crimea in 2014. Vasco Cotovio/CNNMuzykant said the dangerous operation took months of planning to prepare the Ukrainian soldiers for the many risks they would face. Stringer/ReutersMuzykant knows there’s still some time and plenty of hard work before Ukrainian forces are able to launch a bigger offensive on Crimea but more – and more daring – raids are on the horizon.

Persons: ”, Muzykant, ” Muzykant, Vladimir Putin, Vasco Cotovio, CNN Muzykant, “, Batallion, It’s, Dmytro Korchynskyi, ” Korchynskyi, Korchynskyi, Atesh, ” Atesh, Stringer, Reuters Muzykant, there’s Organizations: Ukraine CNN, CNN, “, Raptors, Fleet, Storm Shadow, Black, Russia, Planet Labs, Reuters CNN, Federal Security Service, Partisans, Reuters Locations: Kyiv, Ukraine, Crimea, Ukrainian, Russia’s, Moscow, Russian, CNN Moscow, ”, Crimean, Sevastopol, Kerch, Russia, Kherson, Melitopol

☆ Starboard says Rupert Murdoch's News Corp should break up
▼ + stars: | 2023-10-17 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

Jeff Smith, CEO and chief investment officer of Starboard Value, L.P., speaks at a panel discussion at the SALT conference in Las Vegas May 14, 2014. Smith's remarks at the 13D Monitor Active Passive Investor Summit came after Reuters revealed last week that Starboard had become a News Corp shareholder, a prelude to a potential shake-up at Murdoch's media empire. "We believe separate news and real estate assets could help unlock $7 billion or more in value," he added. Starboard, which has pushed for changes at companies ranging from Salesforce (CRM.N) to Darden Restaurants <DRI.N,> would struggle to shake up News Corp without Murdoch's consent. If News Corp separates its real estate assets, shareholders would benefit, Smith said.

Persons: Jeff Smith, Rick Wilking, Rupert, Smith's, Smith, REA, Murdoch, Lachlan, Svea Herbst, Bayliss, Sharon Singleton, David Gregorio Our Organizations: SkyBridge, Rupert Murdoch's News Corp, 13D, Investor, Reuters, News Corp, Dow Jones, Street, Darden, Corp, Svea, Thomson Locations: Las Vegas

☆ Fact Check: CNN’s Gaza report on Palestine Tower bombing is from 2023
▼ + stars: | 2023-10-17 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A CNN report about an Israeli air strike destroying a tower block in Gaza is falsely claimed online to have reused footage from 2021. The Oct. 7 CNN report shows the collapse of the Palestine Tower, a large building in downtown Gaza City hosting media offices and residential apartments, after it was bombed by Israel the same day. Other news outlets covered the same incident, including Al Jazeera, which captured the moment live on-air. The 12-storey building was home to offices of the Associated Press and Al Jazeera and is a visibly different building to that of Palestine Tower. CNN did not reuse footage of the al-Jalaa attack in the TikTok report about the Palestine Tower.

Persons: Al Jazeera, Read Organizations: CNN, Al, Reuters, Associated Press, Authorities, Thomson Locations: Gaza, Palestine, Al Jazeera, Gaza City, Israel

☆ Check out the pitch deck the WNBA's Seattle Storm used to sell stakes that raised the team's valuation to a record-setting $151 million
▼ + stars: | 2023-10-17 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +5 min

Since 2008, the WNBA's Seattle Storm has been owned by three local businesswomen: Lisa Brummel, Ginny Gilder, and Dawn Trudeau. Their first decade owning the Storm was about learning how to run the business, Brummel told Insider. The ownership group closed in February 2023 a $21 million raise, Brummel said, which will go toward the new $64 million facility and working capital. The Seattle Storm currently practice in the basement gym of Seattle Pacific University, where Brummel said they get four hours of access per day. "What we've actually done is curated a list of people who really care about the team," Brummel said.

Persons: Lisa Brummel, Ginny Gilder, Dawn Trudeau, Brummel, we're, It's, aren't, Gilder, Trudeau, Michelle Cardinal, Cardinal Organizations: Seattle Storm, NBA, SuperSonics, Oklahoma City, Storm, WNBA, Chicago Sky, Las Vegas Aces, Seattle Pacific University Locations: Seattle, Oklahoma

☆ Country Garden's entire offshore debt to be in default if Tuesday payment not made
▼ + stars: | 2023-10-16 | by ( Clare Jim | ) www.reuters.com time to read: +2 min

REUTERS/Edgar Su/File Photo Acquire Licensing RightsHONG KONG, Oct 17 (Reuters) - Country Garden's (2007.HK) entire offshore debt will be deemed to be in default if China's largest property developer fails to make a $15 million coupon payment on Tuesday, the end of a 30-day grace period. Lack of payment - which is expected after Country Garden last week warned about its inability to meet offshore debt obligations - would make the firm the latest in scores of Chinese developers who have defaulted. Country Garden has also missed other offshore payments in the past few weeks though those payments still have not seen their 30-day grace periods lapse. Country Garden declined to comment. With nearly $11 billion of offshore bonds and $6 billion of offshore loans, a default by Country Garden would set the stage for one of China's biggest corporate debt restructurings.

Persons: Edgar Su, Houlihan Lokey, Sidley Austin, Clare Jim, Edwina Gibbs Organizations: REUTERS, HK, China International Capital Corporation, Kingboard Holdings, JPMorgan, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, HONG KONG, China, Hong Kong

☆ Opinion: War didn’t look like this when the Geneva Conventions were written
▼ + stars: | 2023-10-16 | by ( Sheena Mckenzie | Opinion Mukesh Kapila | ) edition.cnn.com time to read: +8 min

Fatima Shbair/APHowever, modern urban warfare sets new records of ruination because more than half of us live in built-up areas. This is not illegal under the UN Charter but the concept of ’just’ war in international law requires protecting non-combatants. In urban war, fighters and civilians intermingleOften, the frontlines of urban conflicts cannot be clearly demarcated when fighters and civilians are intermingled. War has changed since the Geneva ConventionsThese new-style warriors were unknown when the Geneva Conventions emerged over a century ago. That violates international humanitarian law and is contrary to a UN political declaration on explosive weapons in populated areas.

Persons: Mukesh Kapila, “, Mukesh, Khan, Fatima Shbair Organizations: UN, Global Health, Humanitarian Affairs, University of Manchester, CNN, United Nations, Islamic, Hamas, International, International Committee, Cross, Food Program Locations: United, Sarajevo, Kabul, Kigali, Huambo, Goma, Gaza, Khartoum, Port, Jerusalem, Britain, Germany, Stalingrad, Beirut, Khan Younis, Geneva, Russian, Ukraine, Islamic State, Afghanistan, Yemen, Australia, Iraq, Ethiopia, Somalia, Sudan, Syria, Libya, Al, Aqsa, Israel

☆ They viewed 16 apartments in 3 days, and finally bought their dream home for $371,000. It wasn't even on their initial list.
▼ + stars: | 2023-10-15 | by ( Amanda Goh | ) www.businessinsider.com time to read: +8 min

Soh Jun Hao and Grace Lim bought their public housing apartment in Singapore right before the pandemic. They viewed 16 apartments in 3 days and came across their forever home by chance. HaosofGraceIt took them 16 apartment viewings to find their dream home, which wasn't even on their initial list. A screengrab from Google Maps Street View showing the couple's apartment block. Amanda Goh/InsiderThe couple's apartment faces a park, and the view from their living room is hard to beat.

Persons: Soh Jun Hao, Grace Lim, —, Jun Hao, they've, Lim, Amanda Goh, " Lim, Soh, Lim's grandmother's, it's Organizations: Service, Housing Development Board, Google Locations: Singapore, Tampines

☆ Rents in Oakland have fallen faster than anywhere else in the US for a simple reason: The city built more housing
▼ + stars: | 2023-10-14 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Rent prices in Oakland have fallen by 7.2% over the last year. A bunch of new housing is hitting the market in Oakland, even as the city has seen its population decline. Over the last few years, Oakland had the fifth-highest rate of housing construction and the seventh-largest drop in population among California's 73 largest cities. AdvertisementAdvertisementThe decline in rents is a turnaround for the city, which has faced a serious housing affordability crisis in recent years as new residents flooded the city and housing construction didn't keep pace. Over the next decade, Oakland is planning to increase its housing stock by 25%, building another 36,000 units of housing.

Persons: — Organizations: Service, Oakland Locations: Oakland, California, Oakland , California, Bay Area, Brooklyn, San Francisco

☆ Exclusive: Activist hedge fund Starboard eyes Rupert Murdoch's News Corp -sources
▼ + stars: | 2023-10-13 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

The fund's plans and the size of its stake in News Corp could not be learned. News Corp declined to comment and Starboard did not respond to a request for comment. Starboard, which has pushed for changes at companies ranging from Salesforce (CRM.N) to Darden Restaurants (DRI.N), would struggle to shake up News Corp without Murdoch's consent. Irenic did succeed in drumming up investor opposition to Murdoch's proposed merger with his other company Fox Corp (FOXA.O), forcing him to abandon the plan. Reporting by Svea Herbst-Bayliss in New York Editing by Greg Roumeliotis and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Rupert Murdoch, Lachlan Murdoch, Bing Guan, Jeffrey Smith, Rupert Murdoch's, Smith, Murdoch, Dow Jones, Irenic, Murdoch's, Lachlan, Svea Herbst, Bayliss, Greg Roumeliotis, David Gregorio Our Organizations: News Corporation, News Corp, Fox, REUTERS, 13D, Investment, New York Times Co, Darden, Corp, Irenic Capital Management, Wall Street, Fox Corp, Reuters, Svea, Thomson Locations: New York, U.S

Germany's property sector is in stress, underscoring a major change of fortune for real estate in Europe's largest economy after an end to the era of cheap money. REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsFRANKFURT, Oct. 13 (Reuters) - German Chancellor Olaf Scholz is facing fresh demands to stem a property crisis in Europe's largest economy after a recent summit aimed at rescuing the sector disbanded in acrimony. The industry's demands reflect alarm that Germany is being sucked further into a global property rout that has been most acutely felt in China. There is also concern that the government is dragging its feet after a contentious industry meeting with the chancellor on Sept. 25. The number of people employed in the building sector has begun to drop for the first time in a decade.

Persons: Kai Pfaffenbach, Olaf Scholz, Wolfgang Schubert, Raab, Schubert, Nicole Razavi, Scholz, Francesco Fedele, Kirsten Donovan Organizations: REUTERS, Rights, Reuters, International Monetary Fund, chancellery, Thomson Locations: Frankfurt, Germany, Germany's, Europe's, China, Razavi, United States

☆ Barcelona restricts cruise ship access, plans to increase tourist taxes
▼ + stars: | 2023-10-12 | by ( Julia Buckley | ) edition.cnn.com time to read: +4 min

CNN —As overtourism continues to throttle European cities, one destination has taken a step against cruise ships, restricting access to the port. Barcelona has closed its northern port terminal to cruise traffic, after an agreement with the local authorities to move ships further out of town. Cruise ships must now dock at the Moll d’Adossat pier, which is the furthest from the city center. Manfred Gottschalk/The Image Bank Unreleased/Getty ImagesBarcelona is Europe’s biggest cruise port. In contrast, the city’s population is just over 1.6 million, according to 2023 data by the local authorities.

Persons: overtourism, Moll, Lluís Salvadó, Salvadó, Ciutat Vella, Manfred Gottschalk, ” Albert Dalmau Miranda, Jaume Collboni, ”, Collboni Organizations: CNN, Trade, Cruises, World Trade, ”, Barcelona, New, Spanish, El Pais Locations: Barcelona, La, Port, ”, Barcelona’s, Europe’s, “, Airbnbs

☆ 6 safe havens for commercial real estate as markets like Austin and San Francisco plummet
▼ + stars: | 2023-10-12 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +1 min

The pandemic real estate bubble is bursting in San Francisco and Austin, Texas. But there are still plenty of commercial real estate safe havens, according to a new Moody's report. With interest rates high and financing hard to come by, there are a lot of doomsday predictions around office towers, multifamily apartments, and other commercial real estate. To better understand the state of the commercial real estate market, look no further than a recent credit-reporting agency Moody's report. But Moody's second-quarter 2023 report released last month also reveals plenty of safe havens for commercial real estate investors, including some unexpected places like Albany, New York, Hartford, Connecticut, and Toledo, Ohio.

Locations: San Francisco, Austin , Texas, Albany , New York, Hartford , Connecticut, Toledo , Ohio

☆ Russia condemns Finland's plan to speed confiscation of Russian real estate
▼ + stars: | 2023-10-12 | by ( Anne Kauranen | ) www.reuters.com time to read: +2 min

REUTERS/Ints Kalnins Acquire Licensing RightsHELSINKI, Oct 12 (Reuters) - Russia's foreign ministry on Thursday criticised a Finnish government plan to speed the confiscation of Russian-owned real estate in Finland, warning the Nordic country of countermeasures. Ousting Russian owners over unpaid bills is not currently legal if an official notification threatening confiscation cannot be delivered to them, Meri said. Meri said electronic notification would be sufficient once the rules change, but did not provide other details on Finland plans. "We will not leave without a proper response such actions of the so-called civilized Finnish state," Russian foreign ministry spokesperson Maria Zakharova said in a statement. Finland is also looking at ways to take control of Helsinki's biggest sports and events arena which has been shut since last year because of sanctions against its billionaire Russian owners.

Persons: Ints, Leena Meri, Meri, Maria Zakharova, Anne Kauranen, Rod Nickel Organizations: REUTERS, Rights, YLE, Thomson Locations: Helsinki, Finland, Rights HELSINKI, Finnish, Russia, Ukraine

While we've been sharing the very best Prime Day deals throughout the sale, there are some great finds our editors recommend snagging right now. William Antonelli, tech reporterAmazonI'm taking this Prime Day to upgrade some of the old gadgets I've got in my house. I go through many shoes when training for marathons, and Prime Day is when I pick up a new pair or two. Last Prime Day, I purchased the Asics Men's Gel-Nimbus 24 Running Shoes. These Prime Day deals most certainly took a bite out of my wallet, but at a fraction of the price you'd normally pay for these items.

Persons: we've, they've, Lauren Savoie, Sephora, I'm, I've, William Antonelli, James Brains, Jaclyn Turner, who's, Keepa, it's, Lisa Sabatini, It's, I'd, Sarah Saril, Amazon Organizations: Amazon, Logitech, Philips, Machine, Prime

☆ The billionaire who popularized duty-free shops and gave away his wealth liked to live frugally, from flying economy to driving a used Volvo
▼ + stars: | 2023-10-12 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +4 min

Duty-free shops innovator Chuck Feeney died this week at the age of 92. AdvertisementAdvertisementIrish-American billionaire Chuck Feeney died this week at the age of 92. According to Irish journalist Conor O'Clery's biography of Feeney, "The Billionaire Who Wasn't: How Chuck Feeney Secretly Made and Gave Away a Fortune," Feeney was uncomfortable with his wealth even earlier on in his career. Chuck Feeney lived modestly, preferring rented apartments over mansions. Chuck Feeney is a good hero to have."

Persons: Chuck Feeney, —, Feeney, Conor O'Clery's, Chuck Feeney Secretly, Carnegie Corporation Feeney, O'Clery, Helga, didn't, — they'd, Forbes, Bill Gates, Warren Buffett, frugality — Feeney, Buffett, frugally Organizations: Service, Duty, Shoppers, Facebook, Carnegie Corporation, Timex, Volvo, Gates Locations: American, New Jersey, San Francisco

☆ An Oscar Winner Scouts Her New Location: an Uptown Pad for Less Than $500,000
▼ + stars: | 2023-10-12 | by ( Debra Kamin | ) www.nytimes.com time to read: +3 min

When her son, Jack, was born 36 years ago, Ms. Leo, now 63, thought about putting down real roots. At the time, she was renting a place on 83rd Street, on the Upper East Side of Manhattan. I rent places for temporary housing when I do television work,” Ms. Leo said. Earlier this year, she decided to try again, focusing on Yorkville, a historic swath of the Upper East Side. Ms. McCormack showed Ms. Leo a handful of studios and one-bedroom apartments in the area.

Persons: Melissa Leo, Leo, Alice Eklund, Ward, homeownership, Jack, Carl Schurz, Oscar, ”, Louie ”, “ I’ve, ” Ms, Janina McCormack, Ms, McCormack, “ Organizations: Upper East Locations: Upper, “, Manhattan, Stone Ridge, N.Y, New Yorker, Washington Heights, ”, Yorkville, New York

☆ Getting to 2% inflation won't be easy. This is what will need to happen, and it might not be pretty
▼ + stars: | 2023-10-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

Mike Blake | ReutersIn theory, getting inflation closer to the Federal Reserve's 2% target doesn't sound terribly difficult. The main culprits are related to services and shelter costs, with many of the other components showing noticeable signs of easing. watch nowInstead, getting better control of rents, medical care services and the like could take ... well, you might not want to know. Policymakers have been banking on the notion that when existing rental leases expire, they will be renegotiated at lower prices, bringing down shelter inflation. He added that the CPI report "is a reminder that we do not have good historic examples to lean on" for long-term patterns in rent inflation.

Persons: Mike Blake, Steven Blitz, Goldman Sachs, Lisa Sturtevant, Christopher Bruen, Marta Norton, Stephen Juneau, Juneau Organizations: Reuters, GlobalData, Street, Cleveland Fed, Bright MLS, Housing, Americas, Morningstar Wealth, Bank of America Locations: Rancho, San Diego , California, Maryland, Stephen Juneau , U.S

The airstrikes have killed over 1,100 Palestinians, according to the Gaza Health Ministry. The Israeli military says more than 1,200 were killed and dozens more abducted, and the government declared war, promising a punishing campaign to destroy Hamas' military capabilities. This time, Israeli airstrikes are rapidly laying waste to vast swaths of Gaza, and casualties are mounting too fast for anyone to keep up. In many cases, residents say, the Israeli military has bombed apartment towers without the usual warning shots, wiping out families in their homes. The Israeli military rarely comments on individual airstrikes.

Persons: ”, Miriam Marmur, “, Nebal Farsakh, Richard Brennan, ” Brennan, “ It’s, Muhammad Al, Gharabli, decapitating, Mohammed, Lotfi, Jaber Weshah, Weshah, —, Khalil Abu Yahia, Alaa, Abu Yahia, ___ DeBre, Julia Frankel Organizations: Gaza, Gaza Health Ministry, Officials, Gisha, Palestinian, World Health Organization, United Nations, Shifa Hospital, Associated Press Locations: GAZA, bedsheets ., Gaza City, Gaza, Israel, “, Beit, ”, Jerusalem

[1/33] A dove flies over the debris of houses destroyed in Israeli strikes, in Khan Younis in the southern Gaza Strip, October 11. And, with hundreds of Israeli strikes raining down on their tiny enclave, they have nowhere to run. The blitz is retaliation for a devastating attack on Israel by Gaza's ruling group Hamas which the Israeli military says killed more than 1,200 people. Men and boys stood near one of the few supplies in Khan Younis loading huge tanks onto three-wheeled rickshaws, carts they dragged by hand and a small wagon pulled by a horse. In Khan Younis, an ambulance stood at the end of an alleyway with its siren blaring, a man sat inside cradling his young daughter, their eyes staring wide from faces covered in dust.

Persons: Khan Younis, Abu Mustafa, Gaza's, Yamen Hamad, they'd, Yoav Gallant, Beit, Ala, Sheikh Radwan, Kafarneh, Youssef Dayer, Mahmoud Abbas, Fatah, Hisham Muhanna, Mohammad Abu Mughaseeb, Younis, didn't, they'll, Nidal al, Abir Al, Angus McDowall, Pravin Organizations: REUTERS, Hamas, Reuters, European Union, Israeli, Beach Refugee, United Nations, International Committee, Medecins Sans, Pravin Char, Thomson Locations: Gaza, Israel, Beit Hanoun, Khan, Egypt, United States, Canada, Japan, Gaza City, Zeitoun, U.N, Abir Al Ahmar, Dubai

☆ Opening iconic New York City streets to pedestrians meant an extra $3 million in spending last year — and helped save local businesses during the pandemic
▼ + stars: | 2023-10-11 | by ( Juliana Kaplan | Eliza Relman | ) www.businessinsider.com time to read: +6 min

Last year, New York City opened Fifth Avenue as a pedestrian street on December weekends. During the 2022 holiday season, New York City Mayor Eric Adams turned an 11-block stretch of the iconic Fifth Avenue into an "open street" for three weekends in December. This is just the latest example highlighting New York City's efforts to pedestrianize busy corridors. At the same time, Open Streets saw the number of businesses on them grow by 10%, while non-pedestrianized streets saw a 20% decrease in the number of businesses. However, there are downsides to Open Streets in New York City.

Persons: —, Eric Adams, Adams, That's, he's, Ting Liu, Tom Harris Organizations: New York City, Service, Mastercard, New, Office of Technology, Innovation, Bloomberg Associates, Times, Times Square Alliance, Columbia University Mailman School of Public Health Locations: New York, Midtown, New, —, Astoria, Queens, New York City

☆ I entered a bidding war to land an apartment. It was way more brutal than I expected.
▼ + stars: | 2023-10-11 | by ( James Rodriguez | ) www.businessinsider.com time to read: +16 min

Yet one of the enduring legacies of the COVID-era housing market may be the proliferation of bidding wars for rentals. Bidding wars have periodically reared their ugly heads during overheated stretches in New York City's housing market. And while things have cooled down since the mania of 2022, in places where available rental inventory remains low, the bidding wars just won't die. Still, it's hard not to worry that we've opened Pandora's box when it comes to bidding wars. Bidding wars may feel distasteful, embarrassing, and unfairly favor those with the means to drive up already exorbitant asking rents.

Persons: Phil, Rikki Mueller, That's, I've, David Harris, Coldwell Banker Warburg, Harris, didn't, Frances Katzen, Douglas Elliman, Jonathan Miller, Miller, Mueller, Stan Broekhoven, Broekhoven, we've, we'd, he'd, They'd, wasn't, —, James Rodriguez Organizations: New, Coldwell Banker, Austin, Google Locations: Manhattan's East, homebuying, New York, Chicago, Boston, Austin, Brooklyn, New York City, California, Los Angeles, South Florida, , New York, Salt Lake City, Las Vegas, Manhattan, David Harris , New York City

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