DIRS.INFO The most relevant business & tech news

☆ Three charged with sending Russia over $7 million in electronics to aid war on Ukraine
▼ + stars: | 2023-10-31 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Three people were arrested in New York City on Tuesday on charges of illegally smuggling millions of dollars' worth of electronics to Russia in order to aid the country's invasion of Ukraine. Federal prosecutors in Brooklyn accused Nikolay Goltsev, Salimdzhon Nasriddinov and Kristina Puzyreva of evading sanctions in order to send Russia equipment used in their precision-guided missile systems. The defendants allegedly dispatched hundreds of shipments of restricted items, worth nearly $7.2 million, to Russia over the course of a year. The complaint alleges that the defendants used two corporate entities to source and purchase dual-use electronics from U.S. manufacturers and distributors, and then secretly export them to Russia. Some of the same types of components were found in Russian weapons platforms and signals intelligence equipment that were seized in Ukraine, prosecutors alleged.

Persons: Nikolay Goltsev, Salimdzhon Nasriddinov, Kristina Puzyreva, Nick Stevens, Matthew Olsen Organizations: Attorney, Eastern, of, Prosecutors, United Arab, Justice Department's National Security Division Locations: Brooklyn, New York City, Russia, Ukraine, U.S, of New York, Tajikistan, Goltsev, Montreal, Manhattan, Russian, Turkey, Hong Kong, India, China, United Arab Emirates, Vitebsk

Many European capitals have restrictions on gasoline and diesel cars, but Strömgren says Stockholm’s complete ban would be a first. “We need to eliminate the harmful exhaust gases from (gasoline) and diesel cars. The mayor of Paris wanted to ban all diesel cars before next year’s Olympics, and gasoline cars by 2030, but has run up against resistance. Currently, any diesel cars built before 2006 and gasoline cars built before 1997 are banned in Paris and 77 surrounding towns for 12 hours a day on weekdays. The ban will expand in 2025 for diesel cars built before 2011 and pre-2006 gasoline vehicles.

Persons: Lars Strömgren, Strömgren, Stockholm’s, ” Strömgren, Pernilla Samuelsson, “, ” Samuelson, Nike Örbrink, ___ Jan Olsen, Mike Corder, Angela Charlton Organizations: STOCKHOLM, Greens, Associated Press, Taxi, Nike, Democrats, Aftonbladet Locations: Stockholm's, Swedish, Old, Taxi Stockholm, Amsterdam, Paris, Copenhagen, Denmark, The Netherlands, France

☆ How Texas Monthly is cashing in on Hollywood's true crime obsession
▼ + stars: | 2023-10-10 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Streamers increasingly are leaning into true crime and stories about the heartland, and Texas Monthly can check those boxes. Of the publication's 50 film and TV projects, half fall into the true crime genre. "They're trying to reach the middle of the country, and we've got things that do that," Scott Brown, Texas Monthly's president, told Insider. Texas Monthly also has a first-look deal with Warner Bros. Sarah Aubrey, head of original content at Max (and an Austin native), told Insider Texas Monthly has an "uncanny ability" to identify not only gripping true crime but also cultural stories with unforgettable characters.

Persons: Richard Linklater, Oscar, we've, Scott Brown, Brown, Taylor Sheridan, Deborah Esquenazi, Sarah Aubrey, It's, Elizabeth Olsen, Max's, Jake Giles Netter, HBO Max, —, greenlit, James Reyos Organizations: Texas, Netflix, Hollywood, Warner Bros, HBO, HBO Max Texas, Entertainment, CAA Locations: Venice, Toronto, Houston, Scott Brown , Texas, Texas, Austin, Hollywood

LOS ANGELES (AP) — A little too country for rock ‘n’ roll, and a little too rock ‘n’ roll for country, Grammy-winning singer-songwriter Lucinda Williams has always played by her own rules. Williams underwent grueling rehabilitation, eventually leading to her memoir, “Don’t Tell Anybody the Secrets I Told You,” and her album, “Stories from a Rock N Roll Heart." AP: You’re hitting the road for “Stories from a Rock N Roll Heart,” your first album since your stroke. She’s just so fun to work with because she’s real enthusiastic, and, you know, she’s fun to be with. AP: At this stage in your career, I have to ask: Do you still feel too country for rock ‘n’ roll, and too rock ‘n’ roll for country?

Persons: Lucinda Williams, That's, Williams, “, Bruce Springsteen, Patti Scialfa, Jesse Malin, Angel Olsen, Margo Price, Jeremy Ivey, Buddy Miller, ” Williams, ”, WILLIAMS, Margo, we’ve, She’s, Tom, Overby, I’ve, I’m, …, What’s Organizations: ANGELES, Associated Press Locations: Ryman, Nashville , Tennessee, Nashville, Asheville

☆ Former U.S. Army sergeant charged with offering classified information to China
▼ + stars: | 2023-10-06 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

WASHINGTON — A former U.S. Army sergeant was arrested on Friday for allegedly attempting to provide classified national security information to China, the Department of Justice said. Schmidt allegedly initiated efforts to provide Chinese intelligence with U.S. defense information after separating from the military in January 2020, the department said. He was part of the 109th Military Intelligence Battalion, where he had access to information classified "Secret" and "Top Secret," the DOJ said. He also is accused of reaching out to both the Chinese Consulate in Turkey and the Chinese security services via email to offer the information. "Individuals entrusted with national defense information have a continuing duty to protect that information beyond their government service and certainly beyond our borders," said Matthew Olsen, assistant Attorney General for National Security, in a statement.

Persons: WASHINGTON —, Joseph Daniel Schmidt, Schmidt, Schmidt's, Matthew Olsen, Tessa Gorman, Gorman Organizations: Defense, Pentagon, Washington D.C, U.S . Army, Department of Justice, DOJ, Joint, Lewis, McChord, 109th Military Intelligence Battalion, Consulate, National Security, Attorney, Western, of, of Defense Locations: Washington, United States, China, San Francisco, Hong Kong, Seattle, U.S, Turkey, of Washington

“The electrons are very fast, and the electrons are really the workforce in everywhere,” Nobel Committee member Mats Larsson said. WHAT DISCOVERY WON THE NOBEL PRIZE IN PHYSICS? “Let’s take one second, which is the time of a heartbeat,” Nobel Committee chair Eva Olsson said. “I was very concentrated, forgot about the Nobel Prize and tried to finish my lecture,” L'Huillier told the AP. The physics prize comes a day after two scientists won the Nobel Prize in medicine for discoveries that enabled the creation of mRNA vaccines against COVID-19.

Persons: Anne L’Huillier, Pierre Agostini, Ferenc Krausz, Mats Larsson, “, ” L’Huillier, ” L'Huillier, Eva Olsson, Mark Pearce, “ It's, that's, ” Krausz, Krausz, L'Huillier, ANNE L'HUILLIER, FERENC KRAUSZ, PIERRE AGOSTINI, L’Huillier, ”, wasn't, Agostini, it's, Max, Ludwig Maximilian, I'd, Wolf, Paul Corkum, Corkum, Alfred Nobel, ___ Borenstein, Mike Corder, Nicolas Garriga, Jan M, Olsen, Geir Moulson Organizations: STOCKHOLM, Lund University, Associated Press, “, Lund, Royal Swedish Academy of Sciences, Ohio State University, Max Planck, Quantum Optics, Ludwig, Ludwig Maximilian University of Munich, University of Ottawa, COVID Locations: French, Swedish, Hungarian, Sweden, Stockholm, “, Paris, Columbus, Washington, Leicester, The Hague, Netherlands, Copenhagen, Berlin

☆ Big Food vs. Big Pharma: Companies bet on snacking just as weight loss drugs boom
▼ + stars: | 2023-10-01 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

But food companies' major bets on snacking come as investors fear the looming danger of Big Pharma's blockbuster obesity and diabetes drugs Wegovy and Ozempic. Younger generations snack more often than older consumers, said Kelsey Olsen, food and drink analyst for market research firm Mintel. Millennials and Gen-Z consumers tend to eat smaller meals that are closer together, creating more occasions to grab a snack. At the same time, Novo Nordisk's Ozempic and Wegovy have taken off, fueled by prescriptions to help patients lose weight. Some patients even report developing aversions to foods with higher sugar and fat content — a category that includes many big snack brands.

Persons: Smucker, Big, Wegovy, snacking, Kelsey Olsen, Millennials, Morgan Stanley, Morgan Stanley's, General Mills Organizations: Hostess Brands, HSBC, Accenture, Novo Nordisk's Ozempic, Hershey, Mondelez, PepsiCo, General Locations: Seattle , Washington , U.S, U.S

☆ There's one 'lucky' group of homeowners in America's housing market, says a Zillow economist
▼ + stars: | 2023-09-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

US homeowners who are downsizing now are "lucky," Skylar Olsen, Zillow's chief economist told MarketWatch. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . For context, the value of the US housing market has surged about 50% from the pre-pandemic days in January 2020 to nearly $52 trillion now, according to a Tuesday report from Zillow. California is currently the US' most valuable housing market, per Zillow. The state's housing market is now worth over $10 trillion — nearly 20% of the national total.

Persons: Skylar Olsen, Olsen, —, Zillow's Olsen, Insider's James Rodriguez Organizations: Service, National Association of Realtors, MarketWatch, Census, NAR Locations: Zillow . California, Florida , New York , Texas, New Jersey

☆ 'Housing market is frozen up': Zillow chief economist on mortgage rates at highest level since 2000
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Housing market is frozen up': Zillow chief economist on mortgage rates at highest level since 2000Skyler Olsen, Zillow chief economist, joins 'Fast Money' to talk sky-high mortgage rates, the real estate market and what's ahead for the market.

Persons: Skyler Olsen

☆ Prince William Takes a Dip in New York’s East River
▼ + stars: | 2023-09-19 | by ( Callie Holtermann | More About Callie Holtermann | ) www.nytimes.com time to read: +1 min

Wearing a fluorescent orange life preserver and rubber gloves that reached his biceps, Prince William waded — ever so carefully — into New York’s East River. Damp onlookers watched the prince toss a few juvenile oysters in a bucket, then wade through waist-deep water until he reached the shore. Relief was palpable among staff of Billion Oyster Project, a nonprofit aiming to restore oyster reefs to New York’s waterways. This time around, the staff’s preparations included ordering new waders, the type of waterproof overalls worn by fly fishermen. “We were like, what size waders does the prince wear?” Jessi Olsen, the corporate partnerships manager for Billion Oyster Project, said.

Persons: Prince William waded —, Queen Elizabeth II, Jessi Olsen Locations: New, East

☆ Ozempic maker Novo Nordisk isn't just Europe's second-most valuable company. It is also singlehandedly boosting Denmark's economy.
▼ + stars: | 2023-09-18 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Ozempic-maker Novo Nordisk is Europe's second-largest company by market capitalization. It's also boosting Denmark's economy all on its own. AdvertisementAdvertisementNot only that, Novo Nordisk has also been propping up Denmark's economy all on its own. Jonas Petersen, an analyst at Denmark's statistics department, further told the AFP that the trend is "changing the picture of the economy." Denmark's statistics department and Danske Bank's Olsen did not immediately respond to requests from Insider for comment sent outside regular business hours.

Persons: It's, would've, LVMH Moët Hennessy Louis Vuitton, Elon Musk, Amy Schumer, they've, Las Olsen, Jonas Petersen, Bank's Olsen Organizations: Novo Nordisk, pharma, Service, Novo Nordisk's, Novo, Danske Bank, AFP, Nordisk Locations: Wall, Silicon, Europe

☆ Wasserman Merges Sports and Entertainment by Buying Brillstein
▼ + stars: | 2023-09-18 | by ( Brooks Barnes | More About Brooks Barnes | ) www.nytimes.com time to read: +1 min

For decades, Casey Wasserman has insisted that he would never enter the traditional entertainment business. Film and TV felt too incestuous — his grandfather, Lew Wasserman, reigned as Hollywood’s power broker from the 1960s to the 1990s — and too financially challenged, he would say. Never say never: Mr. Wasserman, 49, on Monday announced that his sports-centered conglomerate, Wasserman, had finalized a deal to buy Brillstein Entertainment Partners, a Hollywood management firm and content production company. Brillstein represents stars like Brad Pitt, Tiffany Haddish, Adam Sandler, Florence Pugh, Rami Malek and Elizabeth Olsen. The lines have blurred a lot more than I think anyone would have expected even five years ago.”

Persons: Casey Wasserman, Lew Wasserman, Wasserman, Brad Pitt, Tiffany Haddish, Adam Sandler, Florence Pugh, Rami Malek, Elizabeth Olsen, Bill Maher, ” Organizations: Monday, Brillstein Entertainment Partners, Paramount Television Studios, Netflix, Disney, “ Locations: Hollywood, “

STAVANGER, Norway (AP) — The Norwegian king’s eldest child, Princess Märtha Louise, will marry her Hollywood partner, the self-professed shaman Durek Verrett, next summer, the couple announced Wednesday. The Norwegian princess can trace her ancestry back to Britain’s Queen Victoria. The couple, who toured the country in 2019 as “The Princess and The Shaman,” have created waves in Norway with their alternative beliefs. The wedding will take place on Aug. 24 in Geiranger, prized for its typical Norwegian scenery among mountains and fjords. Although Princess Märtha Louise is the first child of King Harald V, her brother, Crown Prince Haakon, who is two years younger than her, will succeed his father as king.

Persons: Princess Märtha Louise, Durek Verrett, King Harald V, “, ” Verret, Victoria, Märtha Louise, Norway’s, Crown Prince Haakon, wasn't, Haakon, Princess Ingrid Alexandra, ___ Jan M, Olsen Organizations: NRK Locations: STAVANGER, Norway, Norwegian, California, Geiranger, Bergen, Copenhagen, Denmark

☆ Cash double helps Villa to 3-1 win at Burnley
▼ + stars: | 2023-08-27 | by ( ) www.reuters.com time to read: +2 min

BURNLEY, England, Aug 27 (Reuters) - Defender Matty Cash scored twice in the first half as Aston Villa won 3-1 at Burnley in the Premier League on Sunday to continue their winning run. Watkins and substitute Nicolo Zaniolo spurned late golden opportunities but Villa coasted to a second league win and provisionally climbed to sixth in the standings. Burnley's second straight loss left them down in 18th, though they have played only two games after last week's fixture at Luton Town was postponed due to stadium works at Kenilworth Road. Burnley travel to Nottingham Forest in the League Cup on Wednesday and Villa host Hibernian in the second leg of a Europa Conference League playoff tie on Thursday. Villa won the first leg 5-0.

Persons: Matty Cash, Cash, Ollie Watkins, Moussa Diaby's cutback, Hannes Delcroix, Vincent Kompany's Burnley, Lyle Foster outmuscled Pau Torres, Robin Olsen, Olsen, Villa, Watkins, Nicolo Zaniolo, Villa coasted, Aadi Nair, Ed Osmond Organizations: BURNLEY, Aston Villa, Burnley, Premier League, Villa, Newcastle United, Poland, Anderlecht, Luton Town, Nottingham Forest, League, Wednesday, Hibernian, Europa Conference League, Thomson Locations: England, Belgian, Diaby, Bengaluru

☆ These 14 cities will see at least 20% home-price growth over the next 3 years, according to Scholaroo — and 5 of them have current median prices under $200,000
▼ + stars: | 2023-08-24 | by ( William Edwards | ) www.businessinsider.com time to read: +2 min

The firm expects home prices in these cities to grow between 20%-43% in that time frame. To form their projections, they calculated the average annual change in home prices over the last five years across 152 cities. Below, we've compiled in ascending order the 14 markets where prices are expected to jump by at least 20% in three-years time. Among those 14, some are still relatively affordable, with five having current median home prices under $200,000 and two having a median under $85,000. Below are the cities, their current median home prices, their projected three-year growth rates, and the prices those translate to by 2026.

Persons: Scholaroo, Skylar Olsen, we've Locations: Scholaroo

☆ Almost 40% of first-time home buyers seek out money from their parents, says Zillow's Skylar Olsen
▼ + stars: | 2023-08-23 | 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 EmailAlmost 40% of first-time home buyers seek out money from their parents, says Zillow's Skylar OlsenHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Zillow's Skylar Olsen, Brian Sullivan, “ Organizations: CNBC

☆ A 77-year-old talks to an AI-companion robot called ElliQ over a dozen times daily to combat her loneliness: 'It really is like having somebody else in here'
▼ + stars: | 2023-08-18 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Priscilla O'Kesson uses AI-powered robot ElliQ to combat her loneliness, Spectrum News reported. The 77-year-old is one of 257 New Yorkers who received the ElliQ at no cost through New York State. The 77-year-old told Spectrum News that she talks to the robot about 12 to 15 times per day. "I enjoy her," O'Kesson told Spectrum News regarding the robot. In March 2023, aging departments in California and Washington announced new programs with Intuition Robotics that aims to provide elders across select counties in each state with the ElliQ robot.

Persons: Priscilla O'Kesson, O'Kesson, William Holmes, Greg Olsen, Olsen Organizations: Spectrum News, Yorkers, Morning, Yorker, Spectrum, Robotics, Intuition Robotics, NYS Aging Office, Washington Locations: New York State, Greene County, Catskill, California, she's, New York, York, Florida

☆ Ex-FBI counterintelligence official pleads guilty to conspiracy charge for helping Russian oligarch
▼ + stars: | 2023-08-15 | by ( ) www.cnbc.com time to read: +3 min

McGonigal is expected to change his plea to guilty after initially pleading not guilty. A former high-ranking FBI counterintelligence official pleaded guilty Tuesday to conspiring to violate sanctions on Russia by going to work, after he retired, for an oligarch he once investigated. McGonigal told the judge he accepted over $17,000 to help Deripaska collect derogatory information about another Russian oligarch who was a business competitor. McGonigal pleaded guilty to a single count of conspiring to launder money and violate the International Emergency Economic Powers Act. He supervised investigations of Russian oligarchs, including Deripaska.

Persons: Charles McGonigal, Oleg Deripaska, McGonigal, Deripaska, Rebecca Dell, Jennifer H, Rearden, Vladimir Putin, Matthew G, Olsen Organizations: FBI, Manhattan Federal Court, Emergency Economic, U.S, District of Columbia, Justice Department's National Security Division Locations: New York City, McGonigal, Russia, Crimea, New York, Washington ,, Albanian, Cypress, New Jersey, United States, Russian

[1/3] Charles McGonigal, a former FBI official who has been charged with working for sanctioned Russian oligarch Oleg Deripaska, arrives at Federal Court in New York City, U.S., August 15, 2023. At the time, McGonigal pleaded not guilty to four criminal counts including sanctions violations and money laundering. McGonigal told the court he was "deeply remorseful" for his actions. U.S. District Judge Jennifer Rearden is scheduled to sentence McGonigal on Dec. 14. U.S. prosecutors charged McGonigal as they ramped up efforts to enforce sanctions on Russian officials and police their suspected enablers following the Russian invasion of Ukraine in February 2022.

Persons: Charles McGonigal, Oleg Deripaska, Brendan McDermid, McGonigal, Vladimir Potanin, Seth DuCharme, Jennifer Rearden, Matthew Olsen, Washington, Jody Godoy, Grant McCool Organizations: FBI, Court, REUTERS, Prosecutors, Deripaska, U.S . Department of Justice's National Security Division, Kremlin, Thomson Locations: Russian, New York City, U.S, New York, Manhattan, Russia, Cyprus, New Jersey, Ukraine, Nornickel

Many opponents of renewable energy, she added, “are worried about the impacts to their very way of life.”Roadside opposition to renewable energy projects near Baldwin City, Kan. “We see offshore wind as a critical technology,” said Dan Burgess, the director of the Maine Governor’s Energy Office. Across the country, clean energy projects of all types are tied up in lengthy permitting processes. By then, India had not completed any offshore wind projects. Since 2000, the United States has barely built any major transmission lines that connect different regions of the country.

Persons: Scott Dickerson, ”, Biden, Alison Bates, “, Columbia University’s, Dan Burgess, Habib Dagher, Janet Mills, Gregory Wetstone, Mack, James Gillway, SunZia, ” Hunter Armistead, Broussard, There’s, Vaughan Woodruff, Tucker Carlson, Teslas, ” Ali Zaidi, Dagher, Rolf Olsen, who’s Organizations: University of Maine, Sears, Officials, Federal, International Energy Agency, Colby College, White, Columbia, Climate, The University of, Maine Governor’s Energy, Environmental, University of Maine’s, Composites Center, Gov, American Clean Power Association, American Council, Renewable Energy, Environmental Protection Agency, Army Corps of Engineers, . Clean, Union United, China India European Union United States, China European Union United, China India United States European, China United States European Union, China United States European Union India, Energy, The New York Times, United, Pattern Energy, New York State Energy Research, Development Authority, Toyota Prius Locations: Penobscot Bay, Maine, , Maine, United States, Europe, China, Australia, India, Los Angeles, Ohio, Jersey Shore, Waterville , Maine, Baldwin City, Kan, Massachusetts, Ukraine, Gulf, Searsport , Maine, Searsport, Bangor, Mack, West, Union United States, U.S, China United States European Union India, Great, New Mexico, Arizona, California, Riesel , Texas, Energy, San Bernardino County, In Kansas, Atlantic City, N.J, New York, Manhattan, Sears

☆ This 24-year-old left her corporate job to live and work in Yosemite—her rent is $88 a month
▼ + stars: | 2023-08-06 | by ( Morgan Smith | ) www.cnbc.com time to read: +5 min

Instead of despairing over the loss of her job, Beatty viewed it as a chance to realize a childhood dream of living and working in the wilderness. Quitting the 9-to-5 grind for 'something simpler'Beatty started looking for seasonal jobs in October 2022 on Vail Resorts' careers website at the recommendation of a friend. Olsen, who is also a freelance photographer, landed a job as a ski instructor at the same resort. Paying $88 per month to live in YosemiteAt the end of March, she and Olsen moved into a small, one-bedroom cabin in the park, which costs them $88 per month, each. Sharing those intimate spaces with her co-workers was "a bit of a shock at first," Beatty says, and has been the most challenging adjustment to seasonal work.

Persons: Hanna Beatty, Beatty, Beatty didn't, Justin Olsen, you've, Olsen, Justin Reed Olsen, It's Organizations: Yosemite National, Vail Resorts, Aramark, Yosemite Locations: Redding , California, Lake Tahoe, U.S, California, Redding, Yosemite, Philadelphia, Tahoe, South

☆ Jokeeta and Donte Marzett make tens of thousands of dollars on every home they flip. They share how they finance their home purchases and remodels — and how to mitigate risks associated with flipping.
▼ + stars: | 2023-08-04 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

The Marzetts' financing strategyAfter their first flipping experience, the Marzetts decided to continue down the path of house flipping. Hard money lenders are a good option for some because they're easier to obtain a loan from than a bank. One example of how the Marzetts have used a hard money lender is in a house they're currently flipping in Texas. For the remaining cost of the house (around $220,000), they borrowed from the hard money lender, plus another $75,000 for renovation costs. That means they can expect to profit between $80,000-$110,000, depending on final renovation costs.

Persons: Donte Marzett, they've, Donte, They've, Skylar Olsen, Olsen Locations: Texas, Backflip

REUTERS/Tyrone Siu/File PhotoWASHINGTON, Aug 3 (Reuters) - Two U.S. Navy sailors have been arrested on charges of handing over sensitive national security material to China, U.S. officials said Thursday. "There is no bigger, multigenerational threat to the United States" than China, said FBI Special Agent Stacey Moy. Beijing "will stop at nothing to attack the United States in its strategic plan to become the world's sole superpower." U.S.-China relations have been tense for years over a range of national security and trade issues. The United States has accused China of espionage and cyberattacks, a charge that Beijing has rejected.

Persons: Tyrone Siu, Wenheng Zhao, Jinchao Wei, Matt Olsen, Zhao, Wei, Stacey Moy, Kanishka Singh, Raphael Satter, Mark Porter, Alison Williams, Jonathan Oatis, Cynthia Osterman Organizations: U.S . Navy, REUTERS, USS, Embassy, United, Thomson Locations: Essex, U.S, Hong Kong, China, San Diego, People’s Republic of China, Okinawa, Japan, Ventura County, San Clemente, Los Angeles, USS Essex, United States, Beijing, Washington

☆ Wall Street landlords are selling homes back to Main Street. Here's what it might mean for runaway housing prices.
▼ + stars: | 2023-08-03 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +8 min

The companies — Invitation Homes and AMH — have already sold 1003 homes this year, through July, to non-corporate buyers, according to Insider's analysis of data from real estate tracker Attom Data. The group, which has included Wall Street firms like Blackstone (which spun off Invitation Homes), has been blamed for exacerbating the housing shortage that has pushed real-estate prices sky-high. One exception might be in 2019 when Invitation Homes sold 785 homes to non-corporate buyers, versus 225 sales through July of this year. The lack of housing supply, which has kept prices high even as mortgage rates rise, makes selling homes in markets that cost more to operate rentals a profitable play. In reporting earnings last week, Invitation Homes increased its core revenue guidance for the rest half of the year because its rent prices actually outperformed expectations.

Persons: —, AMH, Jon Olsen, execs, Dallas Tanner, Tanner, Gary Beasley, Roofstock, Beasley, He's, Dave Singelyn, Singelyn Organizations: Attom, Wall, Blackstone, Invitation Homes, SFR, Invitation, MLS, Homes, Sun, Wall Street, Homeowners, Seller Services Locations: SFR, New York City, America

Uber (UBER.N) shed 5.4% after the ride-hailing company missed second-quarter revenue expectations. Among pharmaceutical heavyweights, Pfizer (PFE.N) edged lower in choppy trading after the drugmaker fell short of Wall Street expectations for quarterly revenue, hit by declining sales of its COVID-19 products. Merck (MRK.N) eased 0.8% even as it raised its full-year profit forecast after posting a smaller-than-expected second-quarter loss. U.S. second-quarter earnings are now expected to fall 5.9% from a year earlier, as per Refinitiv data on Tuesday, compared with a 7.9% decline estimated a week earlier. Arista Networks (ANET.N) jumped 20.1% as the network gear maker forecast quarterly revenue above estimates after delivering better-than-expected results.

Persons: Brendan McDermid, Mike Olsen, Johann M Cherian, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Reuters, PMI, Dow, Nasdaq, Caterpillar, Pfizer, Merck, U.S, Arista Networks, Dow Jones, Cruise, JetBlue Airways, American Airlines, NYSE, Thomson Locations: New York City, U.S, Bengaluru

Search resuls for: "Olsen"

25 mentions found