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☆ German green-light for Leopard tanks is 'secondary' issue, Poland says
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +2 min

Poland is pushing for countries who have Leopards to send them to Ukraine, even if Germany does not want to join them. Even if we did not get this approval ... we would still transfer our tanks together with others to Ukraine", Morawiecki told reporters. Poland's Prime Minister Mateusz Morawiecki arrives for a European Union leaders' summit in Brussels, Belgium December 15, 2022. German Foreign Minister Annalena Baerbock said on Sunday that Berlin would not stand in the way if Poland sent its Leopard 2 tanks to Ukraine. However, a German government spokesperson said on Monday that Berlin had still not received any requests to authorise the re-export of the tanks.

☆ Explainer: How to correctly re-export German tanks
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +7 min

The following explains defence export rules in Germany and other countries and the way such deals have been handled previously:HOW DO GOVERNMENTS CORRECTLY RE-EXPORT GERMAN TANKS? The same goes for cases where the weapons may be used to wage a war of aggression or the re-export approval might violate Germany's obligations under international law. As defence exports are a touchy issue in Germany, foreign countries usually do not directly submit a formal request for re-export to the German authorities. If not, the foreign country abstains from submitting a formal re-export request, and no diplomatic harm is done. GERMANY'S HIGH HURDLES FOR DEFENCE EXPORTSGermany has one of the toughest defence export regimes in the world – largely due to its bloody pre-1945 past.

☆ Analysis: Western military aid girds Kyiv for counterattacks despite tank deadlock
▼ + stars: | 2023-01-20 | by ( Tom Balmforth | ) www.reuters.com time to read: +4 min

The latest U.S. aid includes 90 Stryker armoured personnel carriers (APC) and 59 Bradley fighting vehicles with powerful canons - adding to 50 Bradleys pledged earlier this month along with French and German infantry fighting vehicles. A group of nine European states, including Britain and the Baltics promised on Thursday to deliver heavy artillery, air defence, ammunition and infantry fighting vehicles and battle tanks sought by Kyiv. Zagorodnyuk said he believed infantry fighting vehicles were a clear endorsement of Kyiv's counterattack plans, also noting the importance of large donations of ammunition. Berlin said earlier this month that it would send 40 Marder infantry fighting vehicles before the end of March; Paris said it would send AMX 10-RC armoured combat vehicles, which are seen as tank destroyers. In an interview with the Economist in December, Ukraine's top general, Valeriy Zaluzhnyi said he needed 300 tanks, 600-700 infantry fighting vehicles and 500 howitzers to help his forces push back the invaders.

☆ Rising Interest Rates Hit Landlords Who Can’t Afford Hedging Costs
▼ + stars: | 2023-01-17 | by ( Will Parker | Konrad Putzier | ) www.wsj.com time to read: 1 min

The cost of insuring commercial real-estate loans against a rise in interest rates has exploded over the past year, raising the prospect of a market selloff since many property owners will no longer be able to afford these hedges. Nearly half of all commercial property debt is floating rate, according to a 2019 report by the Mortgage Bankers Association. Lenders usually require that these borrowers hedge against an increase in borrowing costs, through a derivatives contract known as an interest-rate cap that limits a borrower’s exposure to rising interest rates.

☆ Ukraine credits local beavers for unwittingly bolstering its defenses — their dams make the ground marshy and impassable
▼ + stars: | 2023-01-13 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

This is in part because of beavers building dams, with nobody stopping them due to the war. The animals are unwittingly helping Kyiv by building dams that keep the ground marshy and impassable, a military spokesman told the agency. This helps Ukraine by making it less likely that an attack could come via Belarus, which borders Ukraine not far north of the capital Kyiv. Ukrainian officials had warned that Russia may wage an offensive through its ally Belarus into a region of Ukraine called Volyn. Its spokesman, Serhiy Khominskyi, praised the beavers, which he told Reuters were more working unimpeded, unlike in other years.

☆ Ukrainian swamps make attack from Belarus unlikely - for now
▼ + stars: | 2023-01-12 | by ( Max Hunder | ) www.reuters.com time to read: +3 min

Ukrainian officials have warned of a new looming Russian assault, with Belarus to the north named as one possible launchpad, as Moscow seeks to revive its faltering invasion. Russia and its close ally Belarus have beefed up their joint military grouping in Belarus and plan to hold joint aviation drills there from next Monday. Across the border on Thursday, the deputy commander of what Moscow calls its "special military operation" inspected Russian forces in Belarus. Analyst Konrad Muzyka, who runs defence consultancy Rochan Consulting, told Reuters that although a Russian troop build-up could be observed in Belarus, an attack into north-west Ukraine from Belarus would face enormous difficulties. "This makes it easy for Ukrainian forces to channel the movement of Russian forces into specific areas where they would be shelled by artillery."

☆ Merger in Shared-Apartment Business Creates Industry Leader
▼ + stars: | 2023-01-10 | by ( Konrad Putzier | ) www.wsj.com time to read: 1 min

Common manages more than 4,000 apartments in the U.S. New York-based Common manages more than 4,000 apartments in the U.S., while Berlin-based Habyt operates around 7,000 apartments in Europe and Asia. The combined company will be based in the German capital under the name Habyt Group. Habyt co-founder Luca Bovone will serve as chief executive, the companies said. Financial terms of the merger weren’t disclosed.

☆ Aman Miami Beach Developers Secure Financing for Luxe Hotel and Condo Project
▼ + stars: | 2023-01-10 | by ( Konrad Putzier | ) www.wsj.com time to read: 1 min

A rendering shows the Miami Beach project, developed by a partnership between OKO Group and Access Industries. Billionaire investors Vladislav Doronin and Len Blavatnik have landed a $277 million construction loan for a Miami Beach condominium and luxury hotel, one of the largest loans for a South Florida project since the start of the Covid-19 pandemic. Mr. Doronin’s development firm OKO Group and Mr. Blavatnik’s Access Industries, a privately held industrial firm, are teaming to build a 18-story beachfront tower with 22 apartments. They are also renovating the neighboring former Versailles hotel, which will have 56 rooms.

☆ California Storm Floods Roads, Cuts Power on New Year’s Eve
▼ + stars: | 2023-01-01 | by ( Konrad Putzier | ) www.wsj.com time to read: 1 min

A Pacific storm system drenched parts of California with record-setting rain, leaving roads flooded and tens of thousands of households without power on New Year’s Eve. Downtown San Francisco recorded 5.46 inches of rain Saturday, the second-highest total in more than 170 years, the National Weather Service’s Bay Area office said Sunday morning. Nearby Oakland had its wettest day on record, the office added.

☆ New Year’s Eve Machete Attack Leaves Three New York City Police Officers Injured
▼ + stars: | 2023-01-01 | by ( Konrad Putzier | ) www.wsj.com time to read: 1 min

Three New York City police officers were injured in a machete attack near Times Square on New Year’s Eve, Mayor Eric Adams said Sunday morning. The attack took place steps from Times Square, where crowds had gathered to watch the annual ball-drop ceremony. The suspect, a 19-year-old man, walked up to a police officer at the corner of Eighth Avenue and West 52nd Street shortly after 10 p.m. and tried to strike his head with a machete before hitting two other officers in the head, said New York City Police Commissioner Keechant Sewell . One of the officers then shot the attacker in the shoulder, Ms. Sewell said at a news conference.

☆ New Year’s Eve Machete Attack Hurts Three New York City Police Officers
▼ + stars: | 2023-01-01 | by ( Konrad Putzier | ) www.wsj.com time to read: 1 min

☆ Outdoor Retailer Patagonia Tests Solar Windows
▼ + stars: | 2022-12-27 | by ( Konrad Putzier | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/outdoor-retailer-patagonia-tests-solar-windows-11672094574

On the busy day-after-Christmas travel day, Southwest Airlines canceled more than 2,700 flights, frustrating passengers across the country. Overall, around 3,900 flights were canceled within, into or out of the U.S. on Monday, according to the flight-tracking website FlightAware. Southwest had 2,893 flights canceled at one point Monday, or 70% of its schedule, according to the site. On Saturday, Sunday and Monday combined, over 8,200 flights into, out of or within the U.S. were canceled, according to FlightAware. The issue with Southwest flights also caught the attention of the Transportation Department, which called the airline's performance unacceptable.

"If Bakhmut had been captured when they started their attack in August then it would have been significant. Michael Kofman, an expert on the Russian military at the U.S.-based CNA think-tank, said Moscow appeared committed to the battle because of resources it had already spent rather than because of "sound strategy". WAR OF ATTRITIONFor Russia, Bakhmut, which it calls Artyomovsk, the city's Soviet-era name, has long held political value. Muzyka, the Polish military analyst, said Bakhmut had become a battle of attrition. It could also boost Prigozhin's political capital in Moscow if he can take some credit for such a victory.

☆ 2022 didn’t go as expected for bank investors. How to avoid pitfalls in the sector in 2023
▼ + stars: | 2022-12-19 | by ( Hugh Son | ) www.cnbc.com time to read: +4 min

Banks finally got a long-awaited boost to interest rates this year after a decade of toiling in a low-rate environment. A year ago, big lenders including Bank of America and Wells Fargo were the top picks of the analyst community because they were expected to benefit from higher rates . Loan growth coupled with vast deposit bases would drive gains in interest income as the Federal Reserve hiked rates, the thinking went. In a downturn, banks are exposed to surging loan defaults, reduced loan demand and write-downs on assets. Veteran analyst Mike Mayo of Wells Fargo said that bank stocks could pop 50% in 2023 by proving their resilience in a recession.

☆ The World Cup Made American Soccer Fans Sound British
▼ + stars: | 2022-12-18 | by ( Konrad Putzier | ) www.wsj.com time to read: 1 min

Americans still largely call it soccer. But when they talk about the World Cup, which concludes Sunday with an epic match between France and Argentina, they increasingly sound like the football-obsessed British. As England striker Harry Kane prepared to take a penalty shot during the quarterfinal loss against France on Dec. 10, a patron in a New York City sports bar leaned over to his neighbor and said in an unmistakable American accent: “He should go for a cheeky chip.”

☆ Venture Firm Fifth Wall Raises Record Real-Estate Startup Fund
▼ + stars: | 2022-12-14 | by ( Konrad Putzier | ) www.wsj.com time to read: 1 min

Fifth Wall partners Brendan Wallace and Sarah Liu with others on the roof terrace of the Fifth Wall headquarters in New York City. Fifth Wall Ventures Management LLC raised the largest-ever venture fund focused on real-estate technology companies, the company said, a sign that some major investors are still bullish on property startups despite this year’s surge in interest rates. The $866 million fund, which closed on Friday, will invest in both early- and late-stage startups. Annaly Capital Management Inc., Arbor Realty Trust Inc., CBRE Group Inc., Equity Residential and a number of other major real-estate companies invested in the fund.

☆ WeWork’s Once Robust Cash Reserves Have Dwindled, Raising Chances of Default
▼ + stars: | 2022-12-13 | by ( Konrad Putzier | ) www.wsj.com time to read: 1 min

WeWork has been able to cover its losses partly with loans and equity investments from its biggest backer, SoftBank Group. WeWork Inc. is trying to turn a profit before its once formidable cash reserves run out. The Federal Reserve’s efforts to fight inflation have made that harder. Recession fears and tech-industry job cuts are weighing on demand for co-working desks. Meanwhile, money-losing companies such as WeWork are squeezed by higher interest rates, which have made debt harder to come by and the promise of future profit less appealing to investors.

☆ Animals Are Running Out of Places to Live
▼ + stars: | 2022-12-09 | by ( Catrin Einhorn | Lauren Leatherby | ) www.nytimes.com time to read: +17 min

In many places, poverty, powerful interests and a lack of law enforcement make habitat loss especially hard to address. Because animals there often have smaller ranges to begin with, habitat loss hits them especially hard. “That's the ultimate challenge of forest conservation globally.”Source: Map of Life | Photo: Chien C. Lee MOZAMBIQUE Estimated habitat in 2001 MADAGASCAR Estimated habitat in 2001 MADAGASCAR Estimated habitat in 2001 MADAGASCAR Estimated habitat in 2001 MADAGASCAR Estimated habitat in 2001 MADAGASCAR Est. habitat in 2001 MADAGASCAR MOZAMBIQUE Estimated habitat in 2001 MADAGASCAR Source: Map of Life | Photo: Chien C. Lee MOZAMBIQUE Habitat loss in 2021 MADAGASCAR Habitat loss in 2021 MADAGASCAR Habitat loss in 2021 MADAGASCAR Habitat loss in 2021 MADAGASCAR Habitat loss in 2021 MADAGASCAR Habitat loss in 2021 MADAGASCAR MOZAMBIQUE Habitat loss in 2021 MADAGASCARThis is the 2001 habitat of the white-headed lemur, a primate that eats fruit and flowers. Of the many targets being negotiated, the one that has gotten the most attention seeks to address habitat loss head on.

☆ Investors Yank Money From Commercial-Property Funds, Pressuring Real-Estate Values
▼ + stars: | 2022-12-06 | by ( Konrad Putzier | Peter Grant | ) www.wsj.com time to read: 1 min

Some investors in Blackstone’s flagship real-estate fund won’t be able to cash out before next year. Big and small investors are queuing up to pull money out of real-estate funds, the latest sign that the surge in interest rates is threatening to upend the commercial-property sector. Blackstone Inc. last week said it would limit the amount of money investors could withdraw from its $69 billion flagship real-estate fund following a surge in redemption requests. Starwood Capital Group shortly after notified investors that it was also restricting withdrawals in a $14.6 billion fund, according to a person familiar with the matter.

☆ Airbnb Aims to Attract Big Landlords With a Cut of Its Rental Sales
▼ + stars: | 2022-11-30 | by ( Konrad Putzier | ) www.wsj.com time to read: 1 min

Airbnb Inc. is launching a listing service for rental apartments with some of the biggest landlords and property managers in the country, a bid to expand its business in multifamily buildings where owners often shun short-term rentals. The new service will feature more than 175 buildings managed by Equity Residential , Greystar Real Estate Partners LLC and 10 other companies, Airbnb said on Wednesday.

☆ Virginia Walmart Employees Slain in Mass Shooting Are Mourned
▼ + stars: | 2022-11-24 | by ( Konrad Putzier | ) www.wsj.com time to read: 1 min

CHESAPEAKE, Va.—Families, friends and fellow workers on Thanksgiving Day were mourning the death of six employees allegedly killed at a Walmart by a night supervisor, the second major mass shooting in America in less than seven days. Police identified five of the dead victims as Lorenzo Gamble, Brian Pendleton, Kellie Pyle, Randall Blevins and Tyneka Johnson. The name of a 16-year-old male victim wasn’t released because he was a minor. All six were Walmart associates, a company spokesman said.

☆ Housing Shortage Reflects the Cheap Cost of Holding Vacant Land
▼ + stars: | 2022-11-23 | by ( Konrad Putzier | ) www.wsj.com time to read: 1 min

For a glimpse at how a skewed property-tax system worsens the housing shortage in America’s biggest cities, take a look at a 6-acre land parcel in Midtown Manhattan. The site, located next to the United Nations headquarters, is valued at hundreds of millions of dollars, according to analysts. It is zoned for the construction of around 1,500 apartments in a city that has a shortage of housing and rents near record highs. Yet for the past 17 years, the lot has sat empty, and its owner has paid relatively little in taxes on the property because it doesn’t contain any buildings.

Sergei Surovikin, nicknamed "General Armageddon" by the Russian media for his reputed ruthlessness, on Nov. 9 recommended Moscow's forces quit Kherson and the west bank of the River Dnipro where they were dangerously exposed. Simonyan urged Surovikin, a hulking shaven-headed figure who has been shown on TV speaking in clipped Russian military language, to ignore "nonsense" from critics, a reference to influential military bloggers unhappy about his retreat. Nor is taking new ground in the east against a highly motivated and Western-equipped Ukrainian military an easy task, especially in the winter. The appointment of Surovikin on Oct. 8 was the first time Russia had publicly named an overall commander for its forces in Ukraine. With the exception of the city of Lysychansk, in eastern Ukraine, he said all the territory Russia held looked defensible.

☆ Airbnb Co-Founder’s New Business Is Building Small Homes in Backyards
▼ + stars: | 2022-11-14 | by ( Konrad Putzier | ) www.wsj.com time to read: 1 min

Joe Gebbia co-founded Airbnb Inc. as a company that helped people rent out their homes to guests. His new venture is about adding small homes to people’s backyards. The new startup, known as Samara, plans to sell factory-produced studio and one-bedroom units to homeowners. The company is looking to capitalize on laxer laws and rising demand for affordable housing spurred by surging home prices and ballooning rents.

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