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☆ 13 hot spots for real-estate investors seeking solid rental income returns and cheaper property instead of high prices and taxes, according to an expert who's spent 2 decades investing around the glob
▼ + stars: | 2023-04-22 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

With the right locations, he believes investors could double their cash investment in the next five years based on property appreciation and rental income. you'll also need to pay taxes on rental income which varies by state. If you plan on generating short or long-term rental income, find a strong rental or property manager. If you're on a budget but want to invest in a good shorter-term rental property for Airbnb, look in high-traffic destinations, he said. Top picks for short-term rental income are internationalized destinations that have easy air access, great amenities, and a lack of hotel competition.

☆ Guest view: Why bank investors have it the hardest
▼ + stars: | 2023-04-21 | by ( Rupak Ghose | ) www.reuters.com time to read: +6 min

But what matters at least as much for shareholders is the risk of near or total wipe-out, as demonstrated by Silicon Valley Bank and Credit Suisse. No investor could have known that Credit Suisse allowed Archegos to fund its trades with insufficient cash collateral. More recently, U.S. authorities seemed to flip-flop on whether uninsured depositors at other banks would enjoy the same protection offered to Silicon Valley Bank’s customers. The upshot for bank investors is that seemingly low valuations might not be low enough. Previously, he was head of corporate strategy at UK-based brokers ICAP and NEX, and an equity research analyst at Credit Suisse focused on the financial sector.

☆ Blackstone is in talks to help regional banks with lending
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +4 min

NEW YORK, April 20 (Reuters) - Blackstone Inc (BX.N), the biggest manager of private equity and real estate assets, said on Thursday it was discussing partnerships with U.S. regional banks to help them with constraints in areas such as car loans and home improvement financing. "As regional banks experienced outflows of deposits, we are seeing real-time opportunities to partner with them at scale," Blackstone President Jonathan Gray said on the firm's first-quarter earnings call. "The regional banks generally play a very large role in home improvement loans, auto loans and equipment finance. He did not identify the banks Blackstone is speaking to. The firm has shifted its focus in real estate to resilient sectors such as logistics and rental housing.

☆ Deadly heat waves fueled by climate change are threatening India's development, study says
▼ + stars: | 2023-04-20 | by ( Helen Regan | ) edition.cnn.com time to read: +5 min

CNN —Deadly heat waves fueled by climate change are threatening India’s development and risk reversing its progress on poverty alleviation, health and economic growth, a new study has found. Since 1992, more than 24,000 people have died because of heat waves in India, the study said. And the impacts are expected to get worse as heat waves become more frequent, intense and lethal due to the climate crisis. More than 90% of the country could be severely impacted by heat waves, falling into an extreme heat “danger” zone, according to the heat index, the study found. The heat index is how hot it feels and considers both air temperature and humidity to assess the heat’s impact on the population.

☆ DeSantis signs bill to lower bar on death sentence in Florida
▼ + stars: | 2023-04-20 | by ( Tyler Clifford | ) www.reuters.com time to read: +2 min

Three jurors voted against a death sentence, according to the Death Penalty Information Center, leaving Cruz to be sentenced to life in prison without the possibility of parole. "Once a defendant in a capital case is found guilty by a unanimous jury, one juror should not be able to veto a capital sentence," he said in a statement. Florida prosecutors trying capital felony cases would need to convince a supermajority, or two-thirds, of a 12-member jury panel that someone who is convicted deserves the death penalty. It would have no effect on the requirement for a jury's unanimous vote to convict a defendant. Florida joins Alabama as the only states where a unanimous jury decision is not required, the Death Penalty Information Center noted.

☆ Here are Thursday's biggest analyst calls: Tesla, Amazon, GE, Home Depot, Elanco, SeaWorld & more
▼ + stars: | 2023-04-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Goldman Sachs reiterates Tesla as buy Goldman says Tesla's earnings report on Wednesday was a "negative" but that it's standing by the stock. Bank of America reiterates Amazon as buy Bank of America says it's standing by Amazon heading into earnings next week. Bank of America upgrades WestRock to buy from neutral Bank of America said in its upgrade of the packaging solutions company that it sees "transformation benefits." Bank of America downgrades NetApp to underperform from neutral Bank of America said in its downgrade of the hybrid cloud data services company that it sees weaker demand. Morgan Stanley initiates SeaWorld as overweight Morgan Stanley said in its initiation of SeaWorld that it sees an attractive risk/reward.

German specialised property lenders such as Aareal Bank (ARLG.DE), Deutsche Pfandbriefbank (PBBG.DE) and Berlin Hyp, have a bigger concentration of real estate exposure, analysts added. Blackstone (BX.N) recently blocked withdrawals from its $70 billion real estate income trust after facing a flurry of redemption requests. Open-ended real estate funds in Britain have also battled to meet strong demand for redemptions. In Europe, CRE exposure for smaller banks, more at risk of deposit flight, is estimated at under 30% of all loans, Capital Economics said. "On the other, real estate owners themselves are going to face quite material increase in costs."

☆ SpaceX and Rocket Lab are the only consistent and reliable launch companies as other space stocks have trouble raising capital, Bank of America says
▼ + stars: | 2023-04-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Meanwhile, most other companies have had trouble raising capital in the risk-averse environment. "Fast forward to 2023, and there are truly only two launch companies that have proven consistent and reliable operations, only one of which is publicly traded Rocket Lab," analysts wrote. "When presented this reality, most satellite companies expressed their reluctance to being over reliant on certain launch companies, namely SpaceX." But other launch companies like Richard Branson's firm Virgin Orbit have run into trouble. "Also, contrary to popular belief, the space industry is not blind to the importance of profitability, and most are aggressively seeking this milestone," the note added.

☆ If you have just about any cash back or miles-earning Capital One credit card, you can now book and earn bonus rewards through Capital One Travel
▼ + stars: | 2023-04-19 | by ( Jasmin Baron | Sarah Silbert | Read More | ) www.businessinsider.com time to read: +9 min

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Capital One Savor, Quicksilver, Spark Cash, and Student cardholders can now access the Capital One Travel Portal and earn bonus rewards. Capital One Travel expands access to Savor, Quicksilver, Spark Cash, and Student cardsCapital One Quicksilver Cash Rewards Credit Card Apply now lock icon An icon in the shape of lock. Other cards earn more cash back The Insider’s Take If you want to earn cash back with minimal effort and no annual fee, the Quicksilver Cash Rewards Card is a good option. Quicksilver Cash Rewards Card review External link Arrow An arrow icon, indicating this redirects the user."

Persons: Cash, Alison Wright, it's, Spark Miles, cardholders, Read, Hopper, There's, We're, you'll, Price Organizations: Getty, Venture, Walmart, Service, One, Capital Locations: Wall, Silicon, Capital

☆ Israel’s Netanyahu says damage to investor confidence ‘a momentary problem’ as mass protests persist
▼ + stars: | 2023-04-19 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Protestors gather in Tel Aviv on April 15 to stage a protest against Israeli Prime Minister Benjamin Netanyahu's government's regulations restricting the powers of the judiciary. Israeli Prime Minister Benjamin Netanyahu on Wednesday dismissed concerns about damaged investor confidence, despite massive and intensifying weekly protests over his planned overhaul of the country's judiciary. I think the momentary fluff, the momentary dust that is in the air is just that — dust. The country has been rocked by mass protests over the government's months-long bid to push through deeply contentious judicial reforms. Netanyahu, re-elected in November to serve as prime minister for a third time, agreed late last month to delay the planned judicial reforms.

☆ The Capital One Entertainment platform allows cardholders to book theater and concert tickets, sporting events, and exclusive experiences with credit card rewards
▼ + stars: | 2023-04-19 | by ( Joseph Hostetler | Credit Cards Reporter | Read More | ) www.businessinsider.com time to read: +9 min

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). You can redeem Capital One rewards for cheap seats — and some events can only be redeemed with rewards. Capital One EntertainmentCapital One Venture X Rewards Credit Card Apply now lock icon An icon in the shape of lock. If you plan to redeem cash back for tickets that can otherwise be bought with cash, it's a much better idea to simply purchase your tickets outright and redeem cash back to offset your transaction later. Also, note that Capital One Savor Cash Rewards Credit Card† and Capital One SavorOne Cash Rewards Credit Card cardholders will earn 8% back through Capital One Entertainment.

Persons: Read, —, It's, We're, Thomas Rhett, James Beard, you'll Organizations: Business, Business †, Service, Entertainment, Capital, One, Vivid, Broadway, Capital One, Orange, College Football National, James, James Beard Foundation, MICHELIN, Capital One Entertainment Locations: New Orleans, Austin, Capital

☆ China may hold lending benchmarks steady as recovery remains on track -analysts
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI/SINGAPORE, April 19 (Reuters) - China is widely expected to stand pat on lending benchmarks at the monthly fixing on Thursday, a Reuters survey showed, as economic recovery has been well on track - as seen from better-than-expected first-quarter data. China's economy grew at a faster-than-expected pace in the first quarter, reducing the urgency for authorities to ease monetary policy to aid recovery, traders and economists said. The loan prime rate (LPR), which banks normally charge their best clients, is calculated each month after 18 designated commercial banks submit proposed rates to the People's Bank of China (PBOC). In a poll of 30 market watchers, 27 predicted no change to either the one-year LPR or five-year tenor . The interest rate on medium-term lending facility (MLF) loans serves as a guide to the LPR.

☆ This startup that automates SME invoices with AI just raised $8 million. Check out the 10-slide pitch deck Triver used to raise the fresh funds.
▼ + stars: | 2023-04-18 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

The startup was founded by former Funding Circle executive Jerome Le Luel and is backed by Stride.vc. A London-based startup that will provide instant working capital to SMEs has emerged from stealth with an $8 million funding round. Like most forms of short-term working capital, financing solutions for the SME market are often expensive and time-consuming. Most providers run checks based on e-commerce data, but Le Luel believes that Open Banking data allows for better risk and analytics modeling. The company wants to launch its platform within this quarter and said that it had a "line-of-sight" to a very profitable business by 2027.

☆ Tax Day: Here's what you need to know if you haven't filed your return yet — and even if you have
▼ + stars: | 2023-04-18 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +10 min

New York CNN —It’s April 18, the official deadline to file your federal and state income tax returns for 2022. Whether you have already filed your tax return or still need to, the good news is this tax filing season has gone much more smoothly than the past three, which were hurt by the pandemic. But you may want to anyway if you think you are eligible for a refund thanks to, for instance, refundable tax credits such as the Earned Income Tax Credit. If you’ve already filed your return, you’re probably glad to have it in the rear view mirror. But one thing is common for the vast majority of US tax filers: Audit rates are exceedingly low.

☆ ECB told not to take banks' word for it when assessing risk
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, April 17 (Reuters) - The European Central Bank should stop relying on banks' self-assessments when setting capital requirements and do its own homework instead, independent experts said on Monday. It was the most notable recommendation in a report commissioned by the ECB to evaluate its work on the key task as the euro zone's top financial supervisor, namely to decide how much capital banks must have to absorb losses. The ECB has been blending its analysis with the banks' own to come up with capital requirements. They told the ECB to change the way it sets capital demands and focus "on specific risks requiring additional capital coverage, while significantly limiting the use of ICAAPs". Fellow ECB supervisor Elizabeth McCaul welcomed a recommendation to use more "qualitative measures" with banks, which she said could include "limitations on business activity, demanding changes in the board and management, and monetary sanctions".

Meanwhile, BlackRock is part of another group investing $650 million to build chargers along freight routes. Because port real estate is at a premium, most early drayage charging projects will be "behind the fence" on trucking company property, experts said. Electric trucks cannot operate without chargers, but it does not make sense to build chargers if drivers are not using electric trucks. Prologis, the biggest U.S. warehouse owner, created its mobility business to install electric truck chargers and solar panels. "A marriage between real estate and energy infrastructure" will be needed to accelerate the transition to electric-powered trucking, Prologis Mobility's Holland said.

WASHINGTON, April 17 (Reuters) - Just a month after the biggest banking crisis in more than a decade, the world's top economic and financial policymakers gathered in Washington and said surprisingly little about financial system stability - at least publicly. Some officials conveyed a sense that banking system safety was further down the priority list of global economic problems. "But it's still something where we need to stay vigilant and address potential risks which may emerge in our financial system," Dombrovskis told reporters. He added that the European Union's banking system was stable, well capitalized with ample liquidity. But during the IMFC's closed meeting, the possible spillovers from financial stability risks were a main topic, Ukrainian Finance Minister Serhiy Marchenko told Reuters.

Wells Fargo executives detailed the bank's exposure to CRE at length during a conference call with analysts. Deposits at Wells Fargo fell 2% to $1.36 trillion at the end of March, compared with $1.38 trillion at the end of last year. "Both Wells Fargo and JP Morgan delivered very, very solid results, blowing past the expected earnings. Reuters GraphicsAverage loans in the bank's commercial banking division rose 15%, while commercial loans rose roughly 7% from a year earlier. Wells Fargo is also still working to contain the fallout from a scandal over its sales practices that led to hefty fines and an asset cap imposed by the Fed.

☆ Piper Sandler downgrades this electric vehicle maker, says it will struggle with high costs
▼ + stars: | 2023-04-14 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Piper Sandler thinks electric vehicle maker Rivian needs to address funding headwinds to compete with Tesla. Piper also slashed its price target to $15 per share from $63 per share. Potter added that, for Rivian to improve its cash burn, the company must address high costs associated with controlling every aspect of vehicle production from start to finish — as rival Tesla does. The firm's downgrade largely stems from Piper Sandler evaluating Rivian at book value as opposed to a valuation based on discounted cash flow. "Given cash constraints and disobliging capital markets, we think most investors are currently unwilling to pay for RIVN's long-term prospects," Potter said.

☆ Florida to allow death penalty with 8-4 jury vote instead of unanimously
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +3 min

If the Republican governor signs the bill into law, Florida prosecutors trying capital felony cases would need to convince only two-thirds of the 12-member jury that someone who is convicted deserves the death penalty, rather than a unanimous decision by a jury. It would have no effect on the requirement for a jury's unanimous vote to convict a defendant. Three jurors voted to spare Cruz, and by default his sentence was life in prison without the possibility of parole, according to the Death Penalty Information Center. If the bill becomes law, Florida would join Alabama as the only states where a unanimous jury decision is not required, the center noted. In 2017, Florida passed a law that required death penalties to be imposed only after a unanimous recommendation by a jury.

"Weakness continues to develop in commercial real estate office," Wells Fargo Chief Executive Charlie Scharf said on a call with analysts. Stress in the commercial real estate sector could have broad implications for banks and the economy, as losses emanating there can tighten credit availability and exacerbate a downturn. More than $1.4 trillion in U.S. CRE loans will mature by 2027, with some $270 billion coming due this year, according to real estate data provider Trepp. As the epicenter for the technology industry downturn, California's CRE market has been hit hard. Citigroup and Wells Fargo declined to comment for this article.

☆ China's Didi Global to roll out self-developed robotaxis by 2025
▼ + stars: | 2023-04-13 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

The company said that it is collaborating with multiple new energy carmakers in China on developing robotaxis. "We hope they can enter Didi's network and provide services by 2025," Didi Autonomous Driving COO Meng Xing said at a company event that was livestreamed online. He also showed off a robotaxi concept car called "Didi Neuron", with robotic arms that can help passengers pick up luggage. Didi allows users in some parts of Shanghai and the southern city of Guangzhou to hail self-driving cars through its main app. Swedish carmaker Volvo, owned by Geely (GEELY.UL), supplies Didi's self-driving fleet.

☆ Lack of electric vans opens door for Chinese, other EV makers
▼ + stars: | 2023-04-13 | by ( Nick Carey | ) www.reuters.com time to read: +7 min

[1/3] Tristan Thomas, CEO of Packfleet, demonstrates charging an electric van made by Chinese brand Maxus at the fully-electric package delivery firm's headquarters in London, Britain, October 27, 2022. Packfleet grew tenfold in 2022 and CEO Tristan Thomas said most of the company's 53-vehicle fleet are Maxus vans. SAIC said it sold 18,000 mostly electric Maxus brand vehicles in Western Europe and Scandinavia last year, including buses and pickup trucks. Fleet manager Sean Clifton has 50 additional Ford vans and 20 Maxus vans on order, but will need more soon as Asda electrifies its 1,300 delivery vans. There is no difference in delays for conventional and electric vans at Renault, said commercial vehicle marketing director John Cleworth.

A bank run took down Silicon Valley Bank on March 10, as depositors withdrew $42 billion in a single day. And that’s why we’ve gone to community banks and regional banks such as SVB,” Bradley said. SVB’s collapse could spark future change, entrepreneur saysBecause of these disparities, entrepreneurs also seek funding from venture capitalists. In the early 2010s, Hamilton intended to start her own tech company — but as she searched for investors, she saw that White men control nearly all venture capital dollars. That experience led her to establish Backstage Capital, a venture capital fund that invests in new companies led by underrepresented founders.

☆ Last-minute tax-filing tips
▼ + stars: | 2023-04-13 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

New York CNN —So far this tax season, the IRS has received more than 90 million income tax returns for 2022. If yours is among them, here are some last-minute tax-filing tips to keep in mind as the Tuesday, April 18 deadline approaches. But you may want to anyway if you think you are eligible for a refund thanks to, for instance, refundable tax credits such as the Earned Income Tax Credit. Proofread your return before submitting it: Do this whether you’re using tax software or working with a professional tax preparer. Note, however, that an extension to file is not an extension to pay.

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