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☆ The ‘Forever’ Glaciers of America’s West Aren’t Forever Anymore
▼ + stars: | 2023-09-12 | by ( Somini Sengupta | More About Somini Sengupta | ) www.nytimes.com time to read: 1 min

Mount Rainier is losing its glaciers. That is all the more striking as it is the most glacier-covered mountain in the contiguous United States. The changes reflect a stark global reality: Mountain glaciers are vanishing as the burning of fossil fuels heats up Earth’s atmosphere. According to the World Glacier Monitoring Service, total glacier area has shrunk steadily in the last half-century; some of the steepest declines have been in the Western United States and Canada. Mount Rainier National Park, a popular tourist destination that gets roughly 2 million visitors every year, is feeling the effects acutely.

Organizations: Rainier, Monitoring, Western, Mount Rainier Locations: United States, Western United States, Canada

WeWork's lease liabilities accounted for more than two-thirds of its operating expenses for the second quarter of this year, Tolley said. As of June 30, WeWork had 777 locations in 39 countries. The shuttering of select WeWork locations isn’t new. The process to renegotiate so many leases could take months, if not longer, he said. WeWork’s plans to renegotiate most of its leases also arrive at a time when demand for office space is weak overall.

Persons: — WeWork, “, WeWork, David Tolley, Tolley, ” Tolley, ”, Jonathan Adelsberg, Herrick, Feinstein, Sam Chandan, Chao, Chen, University’s, ” Chandan, David Putro, “ It's, ” Putro, WeWork’s, Chandan, Adam Neumann, It's Organizations: New, Real Estate Department, Chen Institute, Global Real Estate Finance, University’s Stern School of Business, Morningstar Credit, Major, D.C, Putro Locations: New York, Major U.S, San Francisco , New York, Chicago, Washington, San Francisco, “

☆ How Wall Street's REIT giants are reshaping U.S. real estate
▼ + stars: | 2023-09-01 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +2 min

U.S real estate investment trusts today manage $4.5 trillion in real estate worldwide. KKR's real estate business is one of the big players in the REIT game. The KKR Real Estate Select Trust, which currently manages $1.5 billion in assets, paid a dividend of 5.4% to its investors in July 2023. said Billy Butcher, CEO of KKR's global real estate business. Watch the video above to learn the fundamentals of real estate investment trusts.

Persons: Billy Butcher, Sher Hafeez, Jones Lang LaSalle, Michael Pestronk, REITs Organizations: KKR, Trust, CNBC, Jones, P Global Investments, Post, Invitation Locations: Philadelphia

☆ IMF managing director to meet leaders in China, go to Indonesia, India
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva attends in a round table to discuss global economy during the New Global Financial Pact Summit at the Palais Brongniart in Paris, France June 22, 2023. Ludovic Marin/Pool via REUTERS/File Photo Acquire Licensing RightsBEIJING, Aug 29 (Reuters) - International Monetary Fund Managing Director Kristalina Georgieva will visit China from Wednesday to meet with top leaders, before travelling to Indonesia and India for ASEAN and Group of 20 summits, an IMF spokesperson said on Tuesday. "During Aug. 30 to Sept. 3 the Managing Director will be visiting China to engage in bilateral discussions with China's senior leadership team," they said. Last month, the IMF raised its 2023 global growth estimates slightly given resilient economic activity in the first quarter, but warned that persistent challenges were curtailing the medium-term outlook. Georgieva will be in Jakarta from Sept. 4 to Sept. 7 and New Delhi from Sept. 8 to Sept. 10, the spokesperson added.

Persons: Kristalina Georgieva, Ludovic Marin, China's, Georgieva, Joe Cash, Jacqueline Wong Organizations: International Monetary Fund, New Global Financial, Palais, Rights, Monetary Fund, China, ASEAN, Group, Association of Southeast Asian Nations, Fund, Thomson Locations: Paris, France, Rights BEIJING, Indonesia, India, China, Jakarta, New Delhi

☆ Point of no return: Australians fight for the right to work from home permanently
▼ + stars: | 2023-08-01 | by ( Byron Kaye | ) www.reuters.com time to read: +6 min

You can actually finish work at five, rather than finishing at five spending 45 minutes trying to get home." When you have a jolt, you never return to the way the world was," said John Buchanan, head of the University of Sydney's Health and Work Research Network. That same week, the public sector union struck a deal the which lets Australia's 120,000 federal employees request work-from-home an unlimited number of days. By comparison, Canada's federal workers ended a two-week strike in May with a wages agreement that came without the WFH protections they wanted. Among employees with WFH experience, 19% wanted to return to the office full-time, the survey found.

Persons: David Gray, SYDNEY, Nicholas Coomber, Coomber, Jamie Dimon, Elon Musk, John Buchanan, We're, Jones Lang Lasalle, Melissa Donnelly, WFH, Mathias Dolls, Jim Stanford, Stanford, Byron Kaye, Miral Organizations: REUTERS, JPMorgan Chase, Twitter, University of Sydney's Health, Work Research, Commonwealth Bank of Australia, National Australia Bank, NAB, European Union, Community, Public Sector Union, CBA, ifo, Macroeconomics, Stanford University, Workers, Centre, Australia Institute, Thomson Locations: Melbourne, Southbank, Australia, New Zealand, Tokyo, New York, JLL.N, Hamburg

Five hedge funds shared five trading ideas on global property markets, adding that they cannot reveal trading positions for regulatory reasons. CM REITs are companies that own mortgages of multi-family residential homes as well as commercial real estate loans. Cell phone data Litt bought to research a REIT run by Alexandria Real Estate Equities (ARE.N), showed that buildings which that were supposed to be almost fully occupied were only half full. Alexandria Real Estate responded pointing to public filings which said that it was the advancement of science and related intellectual property in Alexandria’s Labspace buildings, and not employee foot traffic that drove its demand for space. But Litt believes that the shift away from office working will also hurt life and sciences real estate, generally.

Persons: Jonathan Mizrachi, CMBSs, David Amaryan, Ben Hunsaker, Hunsaker, Jonathan Litt, Litt, ANSON, Moez Kassam, Vistry, Kassam, Nell Mackenzie, Dhara Ranasinghe, Alison Williams Organizations: Property, Capital, Beach, Beach Point Capital Management, REITs, Alexandria Real, Reuters, Vistry, Thomson Locations: York, Russia, Russia's, Ukraine, Armenia, Beach Point, Alexandria, Alexandria’s, London, Carolina, New York

☆ IMF edges 2023 global economic growth forecast higher, sees persistent challenges
▼ + stars: | 2023-07-25 | by ( Andrea Shalal | ) www.reuters.com time to read: +7 min

REUTERS/Ken Cedeno/File PhotoWASHINGTON, July 25 (Reuters) - The International Monetary Fund on Tuesday raised its 2023 global growth estimates slightly given resilient economic activity in the first quarter, but warned that persistent challenges were dampening the medium-term outlook. The 2023-2024 growth forecast remains weak by historical standards, well below the annual average of 3.8% seen in 2000-2019, largely due to weaker manufacturing in advanced economies, and it could stay at that level for years. This was also related to the aging of the global population, especially in countries like China, Germany and Japan, he said. The impact of higher interest rates was especially evident in poorer countries, driving debt costs higher and limiting room for priority investments. It left its forecast for growth in China, the world's second-largest economy, unchanged at 5.2% in 2023 and 4.5% in 2024.

Persons: Pierre, Olivier Gourinchas, Ken Cedeno, we're, Gourinchas, Andrea Shalal, Andrea Ricci Organizations: Research Department IMF, International Monetary Fund, REUTERS, WASHINGTON, Monetary Fund, IMF, Reuters, Health, El, U.S . Federal Reserve, Bank of England, Thomson Locations: Washington , U.S, China, Germany, Japan, United States, Ukraine

☆ A millionaire who retired at 36 and invested in 9 index funds shares how one would have yielded him an extra $680,000 if he had picked it instead — and the funds he's decided to sell
▼ + stars: | 2023-07-22 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

He learned about target-date funds, which pool a basket of individual funds designed to rebalance the securities based on your years to retirement. Then, he compared the result to having 100% of the amount invested in a target-date index fund called the Fidelity Freedom Index 2050 Investor (FIPFX). "If I could go back in time, I would dump every penny to my name in a single target-date index," Schneider said. Pie chart breakdown of nine initial index funds Portfolio Visualizer, Jeremy Schneider. Additionally, holding a target-date fund in a regular brokerage account instead of a tax-advantaged account may not be tax optimal.

Persons: Jeremy Schneider, wouldn't, Schneider, patted, Visualizer, it's, FIPFX Organizations: Finance, DB, Fidelity

☆ The demand for senior housing is about to explode. These stocks will reap the benefits
▼ + stars: | 2023-06-27 | by ( Michelle Fox | ) www.cnbc.com time to read: +9 min

The rapidly aging population is expected to be a boon for senior housing. About 50% of those in assisted living facilities, for example, are aged 85 and older, while 31% are between 75 and 84 years old, according to the National Center for Assisted Living . Bumpy road but 'attractive valuation' ahead Right now, senior housing is seeing favorable demographics, as well as improving fundamentals and margins, said NIC's Clapp. There's a point where for each incremental bed added in senior housing, you might not need another worker in the building, he explained. Other names tied to the trend include Ensign and Omega Healthcare Investors , which both provide skilled nursing and senior living services, as well as Brookdale Senior Living , an operator of senior living communities with just a $755 million market cap.

Persons: Wells, Connor Siversky, Welltower, Ventas, Raymond James, Jonathan Hughes, You've, they've, Caroline Clapp, Greg Kuhl, Janus Henderson, We've, we've, Kuhl, Siversky, NIC's Clapp, Clapp, there's, Stocks, Janus Henderson's Kuhl, that's, Hughes, CNBC's Michael Bloom Organizations: . Census, National Center for, National Investment Center, Seniors Housing, Care, U.S . Census Bureau, NIC, Investors, Estate Fund, Omega Healthcare Investors Locations: U.S, NOI

☆ HSBC is downsizing its headquarters and leaving London’s Canary Wharf
▼ + stars: | 2023-06-26 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

CNN —HSBC is halving the size of its global headquarters and moving out of Canary Wharf, a business district built in the abandoned docklands of east London in the 1980s. It follows similar moves by other big companies to get rid of expensive office space in cities around the world. The bank has long been a mainstay of Canary Wharf, where it occupies 1.1 million square feet of office space. HSBC is a key tenant in Canary Wharf, and its planned departure raises questions about whether other companies will also think about leaving. Canary Wharf Group, which manages real estate in the area, declined to comment when asked about the matter Monday.

Persons: San Francisco —, Knight Frank, Noel Quinn, Quinn, Jones Lang, Elizabeth, — Hanna Ziady Organizations: CNN, HSBC, Europe’s, Panorama St, City of, San, Canary, Canary Wharf Group, Lloyds, Standard Chartered, Barclays, BCS, Jones Locations: Canary Wharf, London, Panorama, City, City of London, Asia, Wharf, Canada, San Francisco, Canary, Jones Lang LaSalle .

The New York Times Audio app includes podcasts, narrated articles from the newsroom and other publishers, as well as exclusive new shows — including this one — which we’re making available to readers for a limited time. Download the New York Times Audio app here. As authoritarian nations like China and Russia try to assert their power, President Biden has said the United States is fighting a global battle to save democracy. So why is America building relationships with countries that are far from democratic utopias? On this episode of “Matter of Opinion,” the hosts talk about global realignment with sometimes imperfect allies and how risky this moment could be.

Persons: Biden Organizations: New York Times Locations: China, Russia, United States, America

☆ OceanGate Expeditions' Titanic tourism is a thing, and it's dangerous
▼ + stars: | 2023-06-21 | by ( Samantha Delouya | ) edition.cnn.com time to read: +9 min

But for those willing to shell out, tourism and research company OceanGate Expeditions offered eight-day missions that allow customers to explore the Titanic more than 13,000 feet below the ocean’s surface using five-seat carbon fiber and titanium underwater vessels. OceanGate launched successful expeditions to the Titanic wreckage in 2021 and 2022. Geoffrey Kent, the founder of luxury travel company Abercrombie & Kent, has recently planned trips for clients including race car driving on ice in Finland and orangutan trekking in Borneo. OceanGate CEO Stockton Rush has also repeatedly claimed that existing submersible regulations needlessly prioritize passenger safety over commercial innovation. But it also hasn’t innovated or grown—because they have all these regulations,” Rush said in an interview that appeared in a June 2019 issue of Smithsonian Magazine.

Persons: –, ”, Nick D’Annunzio, TARA, OceanGate, Stockton Rush, Andrea Doria, Bill Sikes, Rush, Knight Frank, “, Gideon Kimbrell, Everest’s, Richard Branson, Jeff Bezos, Geoffrey Kent, Sal Mercogliano, hasn’t, It’s, ” Rush, David Pogue, don’t, “ Don’t, ” It’s, D’Annunzio, Ann Epting, Epting, Brad Lendon, Parija Kavilanz Organizations: CNN, OceanGate Expeditions, US Coast Guard, Expeditions, Stockton Rush, Rescuers, OceanGate Foundation, Virgin Galactic, Virgin, VSS Unity, Origin, Elon Musk’s SpaceX, Abercrombie, Kent, Campbell University, Smithsonian Magazine, CBS, Federal Aviation Administration, SpaceX, FAA, Kent’s, Abercrombie & Kent Locations: Everett , Washington, Boston, Stockton, Finland, Borneo, North Carolina, Oman

☆ Exclusive: Engineering consultant NV5 Global explores sale -sources
▼ + stars: | 2023-06-20 | by ( David Carnevali | ) www.reuters.com time to read: +2 min

June 20 (Reuters) - NV5 Global Inc (NVEE.O), a U.S. engineering consultant whose business has taken a hit from its exposure to commercial real estate, is exploring a sale, according to people familiar with the matter. NV5 could decide not to go through with a transaction, the sources added, requesting anonymity because the matter is confidential. This exposure to commercial real estate has weighed on NV5's business and stock price. The company's municipal services business has been negatively affected too, he added. NV5 shares have lost about a fifth of their value since the start of the year, underperforming a 31% rise in the NASDAQ Composite Index.

Persons: NV5, Clark, Dickerson Wright, Wright, David Carnevali, Nick Zieminski Organizations: NV5, Inc, Bock, Global Realty Services, NASDAQ, Thomson Locations: U.S, Hollywood , Florida, NV5, New York

☆ Why Amazon built a second headquarters and how the pandemic reshaped HQ2
▼ + stars: | 2023-06-19 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +6 min

This week, Amazon formally opened the doors of the first part of its new East Coast headquarters, dubbed HQ2, in northern Virginia. It raises the question why Amazon, with its sprawling campus in Seattle and a growing real estate footprint globally, needed to build a second headquarters. HQ2 has some of the same quirks as Amazon's Seattle campus. The towers feature plant-filled terraces and a rooftop urban farm that echoes the feel of the "Spheres," botanical gardenlike workspaces that anchor Amazon's Seattle office. Amazon's HQ2 features some of the same quirks as its Seattle headquarters, like a community banana stand.

Persons: Jeff Bezos, John Schoettler, Schoettler, John, Glenn Youngkin, Tasha Dooley, Bezos, Holly Sullivan, Sullivan, HQ2, wouldn't Organizations: Amazon, Microsoft, Puget, Seattle, Metropolitan Park, Companies, Employees Locations: Coast, Virginia, Arlington, Seattle, Redmond , Washington, HQ2, North America, New York's Long Island City, Crystal City, Arlington , Virginia, Long Island City, Nashville , Tennessee, Bellevue, There's

☆ Barbara Corcoran says people get 2 things wrong about being rich: 'I'm no happier today than I was when I was dirt poor'
▼ + stars: | 2023-06-14 | by ( Isabel Engel | In Isabel--Engel | ) www.cnbc.com time to read: +2 min

People say money can't buy happiness. And Barbara Corcoran, star of ABC's "Shark Tank" and real estate entrepreneur, would say those people are absolutely right. "I'm not going to use that cliché and say, 'money doesn't buy happiness,' but it's true," Corcoran tells CNBC Make It. To Corcoran, there are two major misconceptions people have about being rich: money brings happiness and money doesn't corrupt relationships. 2: Money doesn't change relationships

Persons: Barbara Corcoran, Corcoran, I've, They're, they're Organizations: CNBC, Corcoran, Corcoran Group, University of Pennsylvania

☆ Ron Insana says an AI bubble may be forming, but we're not there yet
▼ + stars: | 2023-06-09 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

How to trade it Let's remember the elements of a bubble, as defined by many market historians who have written about such financial market phenomena (myself included). The public increasingly has been buying related tech stocks and associated ETFs, but we have yet to see the single-minded focus of the entire stock buying world come to bear on AI stocks. In 1999 alone, some 456 stocks went public at the height of the internet mania. If there is to be a bubble in AI, it's the early days. Also, "easy money" from the Federal Reserve, a key component of financial frenzies, is not fueling speculation in publicly traded AI shares, or any other asset class for that matter.

Persons: Jaap Arriens, Charles MacKay, John Kenneth Galbraith, Edward Chancellor, Charles Kindleberger, David Faber Organizations: Nurphoto, Nvidia, Microsoft, Google, Oracle, Adobe, Fund, Nasdaq, CNBC, Federal Reserve Locations: Sea, Mississippi, England, France

☆ Ivanhoe Cambridge CEO on return to office and commercial real estate stress
▼ + stars: | 2023-05-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIvanhoe Cambridge CEO on return to office and commercial real estate stressNathalie Palladitcheff, Ivanhoe Cambridge CEO, joins 'Squawk on the Street' to discuss the state of the global real estate market and corporate real estate stress.

Persons: Nathalie Palladitcheff Organizations: Ivanhoe Cambridge

☆ Weather intelligence company aims to revolutionize forecasting with a constellation of radar satellites
▼ + stars: | 2023-05-16 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Boston-based Tomorrow.io began as a software company that offered hyper-precise, street-level weather forecasting. The company recently launched Tomorrow-R1, what it claims is the world's first commercially built weather-radar satellite, via SpaceX's Falcon 9 rocket. Tomorrow.io used proprietary software not just to predict but also to help companies plan for severe weather. The new radar satellite, however, will offer a much broader scope of data. Elkabetz said the company intends to launch more than two dozen of its own satellites over the next two years.

☆ Investors would be wise to heed these lessons from the 'retail apocalypse' as office values reset
▼ + stars: | 2023-05-14 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +7 min

Still, it is also true that a lot of disruption occurred in between the events that prompted the "apocalypse" chatter and the firmer ground where retail real estate stands today. Recalling how these events played out is helpful in understanding the situation facing U.S. office properties. For office buildings, the pandemic knocked things out of whack. The same idea is being discussed for office buildings, but one-size will not fit all. There may be no surprise that there has been a huge drop-off in the number of loans with office properties as collateral since March.

☆ US Treasury's top international official heads to Europe, Asia for talks on economy
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, May 4 (Reuters) - The U.S. Treasury Department's top international official is heading to Europe and Asia this week for talks on current macroeconomic trends and events, and a G7 finance officials meeting, Treasury said in a statement on Thursday. Treasury Undersecretary for International Affairs Jay Shambaugh will attend meetings of the Organization for Economic Cooperation and Development in Paris on Friday, before traveling on to Singapore and Japan, Treasury said. The meeting takes place a month after the International Monetary Fund trimmed its 2023 global growth outlook slightly and warned that a severe flare-up of financial system turmoil could slash output to near recessionary levels. Shambaugh will join U.S. Treasury Secretary Janet Yellen at the G7 meeting in Niigata, Treasury said. Reporting by Andrea Shalal; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Google's 80-acre San Jose mega-campus is on hold as company reckons with economic slowdown
▼ + stars: | 2023-04-21 | by ( Jennifer Elias | ) www.cnbc.com time to read: +9 min

The city of San Jose may now be paying the price. CNBC has learned that, as part of Google's downsizing that went into effect early this year, the company has gutted its development team for the San Jose campus. By then, the company had already completed much of its multi-year land grab of downtown San Jose for the future campus. Google spent several years planning for the San Jose complex and invested significant resources in winning over the local community. "We all originally knew that it's going to be a long-term plan," San Jose councilmember Omar Torres, who represents the downtown area, told San Jose Spotlight in February.

☆ Omnicom to Reduce Global Real-Estate Space Even as Employees Return to the Office
▼ + stars: | 2023-04-19 | by ( Patrick Coffee | ) www.wsj.com time to read: 1 min

Omnicom plans to reduce its real-estate footprint by more than 1.6 million square feet, Chief Executive John Wren said. Photo: Omnicom GroupOmnicom Group Inc. said it will significantly reduce its real-estate footprint and formalize return-to-office requirements for all U.S. employees as the company said it expects growth to continue through 2023, an indication that executives believe marketers’ continued spending will help the advertising giant largely avoid the economic headwinds that have hit the tech and finance industries. Omnicom, which owns agencies such as BBDO, OMD and TBWA, will require all U.S. employees to return to the office at least three days per week, Chief Executive John Wren said on a call to discuss the company’s first-quarter earnings.

☆ Singapore’s rate pause points to new reality
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, April 14 (Reuters Breakingviews) - Singapore’s surprise decision on Friday to keep its monetary policy unchanged leaves one thing unsaid. The Lion City, whose trade volumes dwarf the size of its economy, joins Australia, India and South Korea in standing pat. Singapore has repeatedly warned this would damage the Lion City’s growth outlook. Prime Minister Lee Hsien Loong said in 2019 that it should prepare for these consequences and adapt to new global realities. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ IMF warns deeper financial turmoil would slam global growth
▼ + stars: | 2023-04-11 | by ( David Lawder | ) www.reuters.com time to read: +5 min

The IMF's U.S. outlook improved slightly, with growth in 2023 forecast at 1.6% versus 1.4% forecast in January as labor markets remain strong. "Our advice is for monetary policy to remain focused on bringing down inflation," IMF chief economist Pierre-Olivier Gourinchas told reporters. The report included two analyses showing financial turmoil causing moderate and severe impacts on global growth. This "moderate tightening" of financial conditions could slice 0.3 percentage point off of global growth for 2023, cutting it to 2.5%. This scenario could slash 2023 growth by as much as 1.8 percentage points, reducing it to 1.0% - a level that implies near-zero GDP growth per capita.

☆ Blackstone raises $30.4 billion for latest real estate fund
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

April 11 (Reuters) - Blackstone Inc (BX.N) said on Tuesday it had raised $30.4 billion for its latest global real estate fund, as the private equity behemoth looks to double down on the industry. The fund, called Blackstone Real Estate Partners X, is 48% bigger than the asset management giant's previous real estate fund which closed in 2019. "Sector selection has never been more critical as we witness the bifurcation of performance within real estate," Ken Caplan, global co-head of Blackstone Real Estate, said in a statement. Blackstone shares were up nearly 1% in premarket trading. Reporting by Niket Nishant in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

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