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☆ US housing starts surge in boost to economy
▼ + stars: | 2023-08-16 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

The sharp rebound in groundbreaking on single-family housing units reported by the Commerce Department on Wednesday was another sign of the economy continuing to defy dire forecasts of a recession. Single-family housing starts, which account for the bulk of homebuilding, jumped 6.7% to a seasonally adjusted annual rate of 983,000 units last month. The increase in groundbreaking was led by the West, where single-family starts soared 28.5%. Overall housing starts increased 3.9% to a rate of 1.452 million units in July. TIGHT SUPPLYDespite the rise in starts, housing supply is likely to remain tight.

Persons: Mike Blake, homebuilding, Christopher Rupkey, Freddie Mac, Nancy Vanden, Daniel Silver, Goldman Sachs, Lucia Mutikani, Chizu Organizations: REUTERS, WASHINGTON, Commerce Department, Federal, National Association of Home Builders, Reuters, Oxford Economics, Treasury, Realtors, U.S, Fed, JPMorgan, Thomson Locations: San Marcos , California, U.S, New York, homebuilding, Nancy Vanden Houten, Midwest

☆ US home builders ramped up construction in July, beating expectations
▼ + stars: | 2023-08-16 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Housing starts, a measure of new-home construction, climbed to a seasonally adjusted annual rate of 1.452 million in the month, beating market expectations of 1.448 million, according to data released Wednesday by the Census Bureau. “Buyers embraced new homes in the first half of this year as a welcome alternative to the massive shortage of existing homes,” Ratiu said. The slight increase in starts suggests builders have some optimism, she said, though it remains to be seen what future mortgage rate increases may mean for the market. “In many cases, even repurchasing their same home at today’s mortgage rates would be out of a typical buyer’s price range.”Mortgage rates are hovering around 7% and interested buyer traffic is slowing down for some builders. The National Association of Home Builders/Wells Fargo Housing Market Index, released Tuesday looks at current sales, buyer traffic and the outlook for sales of new construction homes over the next six months.

Persons: George Ratiu, “ Buyers, ” Ratiu, “ Homebuilders, ”, “, eeking, Kelly Mangold, ” Mangold, Alicia Huey, Warren Buffett’s Berkshire Hathaway, LEN, Horton Organizations: DC CNN, Housing, Census, “, West, Real Estate Consulting, National Association of Home Builders Locations: Washington, Midwest, West, Wells Fargo, Lennar

☆ Homebuilder sentiment drops sharply, as mortgage rates surge over 7%
▼ + stars: | 2023-08-15 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Rising mortgage rates are hitting potential homebuyers hard, and that is taking steam out of the homebuilding market. That is the first decline in seven months and the lowest level since May, when sentiment first rose out of negative territory. Mortgage rates are now holding solidly over 7%, hitting 7.24% Monday, according to Mortgage News Daily. Higher mortgage rates and the decline in buyer activity has more builders using sales incentives once again. The share of builders using all types of incentives, including buying down interest rates, rose to 55% in August from 52% in July.

Persons: Alicia Huey, NAHB, Robert Dietz, NAHB's Organizations: National Association of Home Builders, Mortgage News Locations: Wells Fargo, Birmingham , Alabama, Midwest

☆ Maui wildfire death toll of 55 expected to rise amid search for victims
▼ + stars: | 2023-08-11 | by ( Marco Garcia | ) www.reuters.com time to read: +5 min

KAHULUI, Hawaii, Aug 11 (Reuters) - The death toll from a wildfire that killed at least 55 people on Hawaii's Maui island was expected to rise on Friday, as search teams prepared to comb through the charred ruins of a historic resort town for more victims. "Understand this: Lahaina Town is hallowed, sacred ground right now," Maui Police Chief John Pelletier said, referring to humans remains that have yet to be recovered. In addition to searching for the missing, officials were drafting a plan to house the newly homeless in hotels and tourist rental properties. The Lahaina fire is one of three major wildfires on Maui. There was no estimate for the Upcountry fire in the center of the eastern mass of the island, Maui County said.

Persons: John Pelletier, Poweroutage.us, Richard Bissen, NBC's, Knickerbocker, Josh Green, Green, Kamehameha III's, Gregory Knickerbocker, Nicoangelo, Brendan O'Brien, Frank McGurty, Jonathan Oatis Organizations: Maui Police, Authorities, U.S . Midwest, Hawaii Wildfire Management Organization, Reuters Graphics Reuters, Reuters, Thomson Locations: KAHULUI, Hawaii, Maui, Lahaina, California, Washington, Maui County, Oahu, Kahului, U.S, Kingdom of Hawaii, Greece, Spain, Portugal, Europe, Canada, East Coast, Maui ., Chicago

☆ Market sentiment around commercial real estate is worse than the reality, says RXR's Scott Rechler
▼ + stars: | 2023-08-03 | 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 EmailMarket sentiment around commercial real estate is worse than the reality, says RXR's Scott RechlerScott Rechler, RXR chairman and CEO, joins 'Last Call' to talk a rise in return-to-office in the Midwest and how other regions of the country are stacking up.

Persons: RXR's Scott Rechler Scott Rechler Locations: Midwest

☆ Longtime Democratic Rep. John Dingell, who helped make the NRA's lobbying arm into a political force, privately sought to repeal the 1994 assault weapons ban that he voted for: report
▼ + stars: | 2023-07-30 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

The late Rep. John Dingell played a major role in the rise of the NRA's lobbying operation in DC. In the 1970s, Dingell advocated for the NRA, in an era where many Democrats backed the group. The New York Times examined a trove of documents which outlined Dingell's relationship with the NRA. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. But according to Debbie Dingell, her late husband's views on the NRA and guns had shifted during his nearly 60-year political career.

Persons: John Dingell, Dingell, John Dingell of, Bill Clinton, Dingell's, Debbie Dingell, — Organizations: DC, NRA, New York Times, Service, Democrat, The New York Times, The Times, Capitol, Republicans, Times, Columbine High School, Sandy Hook Elementary Locations: Wall, Silicon, John Dingell of Michigan, Detroit, Midwest, Littleton , Colorado, Newtown , Connecticut

☆ Half of US faces dangerous sweltering heat wave
▼ + stars: | 2023-07-28 | by ( Brendan O'Brien | ) www.reuters.com time to read: +2 min

CHICAGO, July 28 (Reuters) - One of every two Americans will face brutally hot and dangerous temperatures and sweltering humidity as a unrelenting heat wave settles over the Midwest and East Coast on Friday and into the weekend. Excessive heat warnings and heat advisories have been issued for more than 170 million Americans as heat index temperatures in many spots are expected to rise well past 100 degrees Fahrenheit (38 C) through Saturday afternoon, the National Weather Service (NWS) said. In Philadelphia, where the heat index could top out at 108 degrees F (42 C), officials extended public pool and spray grounds hours on Friday and Saturday. It also was the 47th consecutive June and the 532nd consecutive month with temperatures above the 20th-century average, according to the weather service. The hot weather through much of the U.S. is expected to dissipated by late Saturday, leaving behind chances of thunderstorms and mild temperatures into next week, the weather service said.

Persons: Brendan O'Brien, Matthew Lewis Organizations: Midwest, National Weather Service, NWS, Thomson Locations: East Coast, Chicago , New York, Philadelphia, Boston, U.S, New York City, United States, Chicago

☆ Mysterious meat allergy passed by ticks may affect hundreds of thousands in US, CDC estimates
▼ + stars: | 2023-07-27 | by ( Brenda Goodman | ) edition.cnn.com time to read: +9 min

Lack of awareness, lack of diagnosisScientists have only recently begun to understand alpha-gal syndrome. Another third of respondents said they were not confident about their ability to diagnose or manage a patient with alpha-gal allergy. Diagnoses on the riseResearchers haven’t had a good idea how many Americans might have alpha-gal syndrome. This led to them to estimate that between 96,000 and 450,000 Americans may have been affected by alpha-gal syndrome since 2010. A CDC map shows the geographic distribution of suspected alpha-gal syndrome cases per 1 million population per year from 2017 to 2022.

Persons: Ken McCullick, “, …, “ I’m, ” McCullick, ”, Scott Commins, aren’t, they’d, wasn’t, haven’t, epidemiologists, Commins, ” Commins, Johanna Salzer, CNN Salzer, ” Salzer, Salzer, McCullick, Dr, Sanjay Gupta, anaphylaxis, ‘, ’, lightbulb Organizations: CNN, Alpha, US Centers for Disease Control, University of North Carolina School of Medicine, CDC, “, Get CNN, CNN Health Locations: Brooksville , Florida, United States, Lenexa , Kansas, Midwest

… The earth is screaming at us," Washington state Governor Jay Inslee said Sunday on ABC's "This Week." Washington state is switching to electric-powered ferries and stopping the sale of internal combustion cars after 2035, said Inslee. Palm Springs Mayor Grace Elena Garner, who also spoke on "This Week," highlighted the need for further resources from the federal government. She emphasized more funds for housing development are needed to ensure residents don't have to live outside in worsening environmental conditions. The U.S. must lead the climate fight "not just from a moral standpoint, but from [its] self-interest standpoint," Inslee said.

Persons: Bill Forte, Jay Inslee, Joe Biden's, Grace Elena Garner, Garner, Inslee Organizations: North Sky Communications Locations: Pacific, Lake Forest Park , Washington , U.S, U.S, Washington, Springs, Palm Springs

☆ US single-family starts drop; building permits hit 12-month high
▼ + stars: | 2023-07-19 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Summary Single-family housing starts drop 7.0% in JuneSingle-family building permits increase 2.2%Multi-family starts fall 11.6%; permits drop 5.6%WASHINGTON, July 19 (Reuters) - U.S. single-family homebuilding fell in June, but permits for future construction rose to a 12-month high as a severe shortage of previously owned houses for sale supports new construction. The decline in housing starts reported by the Commerce Department on Wednesday partially retraced an abnormally large 18.7% surge in May, which had pushed groundbreaking on single-family housing projects to an 11-month high. Single-family housing starts, which account for the bulk of homebuilding, dropped 7.0% to a seasonally adjusted annual rate of 935,000 units last month. In June, single-family homebuilding fell in the Northeast, Midwest as well as the densely populated South, but jumped 4.6% in the West. Housing starts and building permitsHOUSING STABILIZING"Today's report continues to suggest stabilization," said Murat Tasci, an economist at JPMorgan in New York.

Persons: homebuilding, Mark Palim, Fannie, Freddie Mac, Murat Tasci, Nancy Vanden, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: Commerce Department, Builders, Reuters, Federal, National Association of Home Builders, Treasury, Housing, JPMorgan, Oxford Economics, Thomson Locations: WASHINGTON, Fannie Mae, Washington, homebuilding, Northeast, Midwest, Wells Fargo, New York, West, Nancy Vanden Houten, U.S

☆ US single-family housing starts to drop; building permits hit 12-month high
▼ + stars: | 2023-07-19 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

☆ The sun’s activity is peaking sooner than expected
▼ + stars: | 2023-07-14 | by ( Ashley Strickland | ) edition.cnn.com time to read: +11 min

Every 11 years or so, the sun experiences periods of low and high solar activity, which is associated with the amount of sunspots on its surface. Over the course of a solar cycle, the sun will transition from a calm to an intense and active period. During the peak of activity, called solar maximum, the sun’s magnetic poles flip. A solar activity spikeThe current solar cycle, known as Solar Cycle 25, has been full of activity, more so than expected. The solar storms generated by the sun can affect electric power grids, GPS and aviation, and satellites in low-Earth orbit.

Persons: ”, Mark Miesch, “, Alex Young, ” Miesch, Scott McIntosh, Robert Leamon, Leamon, Miesch, Young, auroras, Bill Murtagh, ” Murtagh, NASA’s Parker, “ We’ve Organizations: CNN, National Oceanic, Prediction, NASA's Solar Dynamics, NASA, SpaceX, Heliophysics, Goddard Space Flight, GPS, National Center for Atmospheric Research, Goddard Planetary Heliophysics, University of Maryland, College Park, American University, Dynamics, Geological Survey, Probe Locations: Boulder , Colorado, Greenbelt , Maryland, Baltimore County, New Mexico , Missouri, North Carolina, California, United States, England, United Kingdom, Alaska, Canada, Iceland, Norway, Scandinavia, Michigan, Upper Midwest, Pacific, Quebec

☆ Compounding Disasters
▼ + stars: | 2023-07-13 | by ( German Lopez | More About German Lopez | ) www.nytimes.com time to read: +2 min

Wildfire smoke recently blanketed the Midwest and Northeast — at times giving U.S. cities the worst air quality in the world. These events show one danger of global warming: Simultaneous climate disasters can play off one another, further worsening extreme weather and straining limited resources. Consider some examples:For years, the U.S. and Australia shared firefighting resources because their fire seasons do not typically overlap. In both cases, the two conditions, exacerbated by climate change, compounded each other to cause more disasters. States often support each other during natural disasters by sending equipment or opening residents’ homes to people who have been displaced.

Persons: York can’t Locations: Arizona , Texas, Florida, New York, Vermont, Midwest, Northeast, U.S, Australia, California, Western U.S, Pakistan, York, North Carolina , Michigan, Connecticut

☆ 11 U.S. cities where rent has fallen the most—a pandemic migration hot spot is No. 1
▼ + stars: | 2023-07-11 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

Median rent prices in these cities dropped by 0.5% in the last year, according to an analysis by Realtor.com. For renters, the decrease is a much-needed break after rent prices soared by nearly 25% from 2020 through most of 2021. This, alongside a growing number of newly constructed apartments, has likely driven down rent prices, the study says. At the same time, rent costs have steadily risen in many major Midwest and Northeast cities. In Columbus, Ohio, rent prices grew by 9.3% — the highest increase of all cities.

Persons: Warren Buffett Organizations: Riverside, San Bernardino -, Austin, Dallas, Fort Locations: Austin, Las Vegas, Phoenix, Vegas, San Bernardino, San Bernardino - Ontario, California, Georgetown , Texas, Francisco Bay, Tampa, St, Petersburg, Clearwater , Florida, Fort Worth - Arlington , Texas, Charlotte, North Carolina, Sacramento , California, Atlanta, Denver, Midwest, Northeast, Columbus , Ohio, New York City, Pittsburgh, Boston, Buffalo , New York, Hartford , Connecticut, New Orleans, Providence , Rhode Island, Rochester , New York

☆ Home prices are hitting new highs again, as high rates put the squeeze on supply
▼ + stars: | 2023-07-10 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

Prices began dropping last summer, after the average interest rate on the 30-year fixed-rate mortgage more than doubled in just six months. Buyers may have simply gotten used to higher rates. The sharp jump in mortgage interest rates last year threw cold water on an overheated housing market, but it didn't last long. Even with rates still high, home prices are now gaining again, and the gains are accelerating with each new month. "Earlier this year I shared that I believed 6% mortgage rates were accepted as the new normal.

Persons: Walden, Andy Walden, Black Knight, Robert Reffkin, Estate, Knight Organizations: Black, Compass, National Association of Realtors, Redfin Locations: Midwest, Northeast, San Jose , California, San Diego , Los Angeles, San Francisco, Seattle, Austin , Texas

☆ U.S. maternal mortality more than doubled since 1999, most deaths among Black women - study
▼ + stars: | 2023-07-03 | by ( Nancy Lapid | Thomson Reuters | Nancy Has Been A Health News Editor At Reuters For More Than A Decade. Previously She Was A Writer | ) www.reuters.com time to read: +2 min

July 3 (Reuters) - The number of U.S. women who died within a year after pregnancy more than doubled between 1999 and 2019, with the highest deaths among Black women, researchers said on Monday. There were an estimated 1,210 maternal deaths in 2019, compared with 505 in 1999, according to a study published in the medical journal JAMA. Unlike previous U.S. studies of maternal mortality, which focused on national trends, the current study analyzed data state-by-state. To the researchers' surprise, Black women had the highest maternal mortality rates in some Northeast states. "Our findings provide important insights on maternal mortality rates leading up to the pandemic, and it's likely that we'll see a continued increase in the risk of maternal mortality across all populations if we analyze data from subsequent years," Bryant said.

Persons: Dr, Allison Bryant, Brigham, Bryant, Nancy Lapid, Michael Erman Organizations: American Indians, Alaska Natives, Blacks, Pacific Islanders, U.S . Centers for Disease Control, Thomson Locations: Alaska, California, Massachusetts, Boston, Midwest, Great

☆ Severe storms threaten July 4th travel, festivities across South and Northeast
▼ + stars: | 2023-07-02 | by ( Mirna Alsharif | Christine Rapp | ) www.cnbc.com time to read: +1 min

As the extended 4th of July holiday weekend looms on the horizon severe storms are set to take aim across a wide swath from New York and Pennsylvania stretching down to Arkansas. On Sunday, 51 million people in this area are at risk for severe thunderstorms from afternoon through evening. The strongest storms will target Kentucky and Tennessee, potentially bringing damaging wind gusts over 65 mph and ping pong size hail -- although a tornado or two can't be ruled out. Scattered showers will persist throughout Sunday, with the strongest storms set to initiate in Kentucky and Tennessee after 2 p.m. CT. As the July 4th holiday approaches, the Northeast and the Southeast can expect scattered showers and temperatures in the 80s and 90s respectively.

Organizations: Washington D.C, Carolinas Locations: New York, Pennsylvania, Arkansas, Nashville , Louisville, Philadelphia, Memphis, Baltimore, Charlotte, Washington, Kentucky, Tennessee, Philadelphia , Baltimore, Raleigh, Northeast

☆ The 10 best U.S. cities for digital nomads—New York and Los Angeles didn't make the cut
▼ + stars: | 2023-07-02 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

Columbus, Ohio was named the top city for digital nomads in the United States, while Fort Lauderdale ranked last. Portland, Houston and Chicago have topped several lists highlighting the best cities for digital nomads, namely for having low housing costs and a high share of remote jobs that pay $100,000 per year or more. New York and Los Angeles, meanwhile, didn't even crack the top 20 best cities for digital nomads. 24, while New York City ranks No. The remote job market is shrinking in some cities, but flourishing in others.

Persons: Zumper, Louis, Covid — Organizations: Fort Lauderdale, Columbus , Ohio Portland , Oregon Kansas City , Missouri Houston St, Louis Chicago Cincinnati San, Louis Chicago Cincinnati San Antonio Detroit Denver Analysts, New York City, U.S . National Bureau of Economic Research, San Francisco Locations: U.S, California, Florida, Midwest, Zumper, Columbus , Ohio, United States, Columbus , Ohio Portland , Oregon Kansas City , Missouri Houston, Louis Chicago Cincinnati San Antonio, Kansas City, Cincinnati, St, Portland, Houston, Chicago, New York, Los Angeles, Washington, San Francisco, York

☆ Wildfire Smoke Is Damaging Our Children’s Lungs - The New York Times
▼ + stars: | 2023-07-02 | by ( Alexander Rabin | Lisa Patel | ) www.nytimes.com time to read: +1 min

When smoke from Canadian wildfires was descending upon parts of the Midwest and Eastern United States in early June, children and parents gathered in the courtyard of Burns Park Elementary in Ann Arbor, Mich., for a picnic celebrating the last week of school. Shannon Hautamaki was loath to cancel end-of-school activities for her 5-year-old son, Ian. But Ian has severe asthma and had been to the emergency room five times over the last two years, and she anticipated a flare-up from the smoke. As physicians who specialize in respiratory health and children, our first thought last week as wildfire smoke again engulfed parts of the United States was of little ones Ian’s age and younger because their developing lungs are particularly vulnerable to smoke inhalation. This new recurring threat of terrible air quality from wildfire smoke is one big reason we believe that for a child born today, climate change may be the single greatest determinant of health over the course of their lives.

Persons: Shannon Hautamaki, loath, Ian Organizations: Midwest, Eastern Locations: Eastern United States, Ann Arbor, Mich, United States

☆ This could be the peak of tick season – and tick-borne diseases are on the rise
▼ + stars: | 2023-07-01 | by ( Deidre Mcphillips | ) edition.cnn.com time to read: +6 min

CNN —An especially bad tick season in the United States is probably hitting its peak, and experts are stressing the importance of taking personal precautions to protect against rising cases of tick-borne disease. Cases of the tick-borne disease – which can cause fever, muscle and joint pain and headache, and which can be fatal – grew 25% from 2011 to 2019. A variety of factors are raising the risk for tick-borne disease, experts say. The deer tick is spreading to the north and west, farther into the Northeast and Midwest. Increased awareness of tick-borne disease could also account for some of the rise in Lyme diagnoses, but experts encourage both doctors and patients to pay close attention to their symptoms.

Persons: ”, Emily Mader, Lyme, Robert Smith, ” Mader, –, ATtrY7YFoS, “ It’s, it’s, ” Smith, Dr, Sanjay Gupta Organizations: CNN, Northeast Regional Center, Excellence, US Centers for Disease Control, CDC, The, Star, Tufts University, — CDC, Get CNN, CNN Health Locations: United States, athenahealth, Lyme, Midwest, Pacific Coast

☆ Half of Americans face stifling heat, poor air quality
▼ + stars: | 2023-06-30 | by ( Brendan O'Brien | ) www.reuters.com time to read: +2 min

REUTERS/Go NakamuraCHICAGO, June 30 (Reuters) - Half of the U.S. population was urged on Friday to take precautions when they are outdoors, either due to a relentless heat wave or poor air quality caused by Canadian wildfires ahead of the long Fourth of July weekend. To the north, across the Midwest and East, another 100 million Americans faced another day of smoky skies and poor air quality alerts due to raging wildfires in Canada. The weather service said individuals, especially those who are young, elderly and suffer from respiratory problems, should consider limiting strenuous outdoor activities in those areas. New York and Washington had the second and third worst air quality respectively of any major cities around the globe, according to IQAir.com, which tracks global air pollution. Some people in eastern Illinois and western Indiana faced a hot and humid day of compromised air quality on Friday without electricity after fierce storms on Thursday evening knocked down power lines and trees.

Persons: Marc Newman, Go Nakamura CHICAGO, Brendan O'Brien, Jonathan Oatis Organizations: REUTERS, National Weather Service, Midwest, Thomson Locations: Houston , Texas, U.S, California, Mississippi, East, Canada, New York, Washington, Illinois, Indiana, Chicago

☆ US pending home sales fall to five-month low in May
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

Economists polled by Reuters had forecast pending sales, which become sales after a month or two, falling 0.5%. Pending home sales tumbled 22.2% in May on a year-on-year basis. "Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing," said NAR Chief Economist Lawrence Yun. The housing market, which has taken the biggest hit from the Federal Reserve's fastest monetary policy tightening cycle since the 1980s, appears to have found a floor. While the tight supply is weighing on the market for previously owned homes, it is boosting construction and sales of new houses.

Persons: Lawrence Yun, Lucia Mutikani, Andrea Ricci Organizations: National Association of Realtors, Reuters, Federal, Housing, Thomson Locations: Northeast, West

☆ More than 100 million Americans at risk as Canadian wildfire smoke spreads
▼ + stars: | 2023-06-29 | by ( Brendan O'Brien | ) www.reuters.com time to read: +3 min

More than 100 million Americans were urged to limit prolonged outdoor activities, and, if needed, wear a mask if they suffer from pulmonary or respiratory diseases. People living in major U.S. cities such as New York, Chicago and Philadelphia may see murky skies and smell burning wood throughout the day. "The air quality in Chicago has been dreadful, giving me brutal migraines. The air-quality alerts were triggered by drifting smoke from wildfires burning in Canada, which is wrestling with its worst-ever start to wildfire season. An area of 8 million hectares (19.8 million acres), bigger than West Virginia, has already burned.

Persons: Quinn Glabicki CHICAGO, Eric Adams, Brendan O'Brien, Alison Williams, Mark Porter Organizations: U.S ., REUTERS, Midwest, National Weather Service, York City, Twitter, Thomson Locations: Mount Washington, U.S . Midwest, East, Pittsburgh , Pennsylvania, U.S, United States, Wisconsin, Illinois, Michigan, New York, East Coast, Chicago, Philadelphia, York, Canada, West Virginia, Pacific, Atlantic, Midwest, South

☆ Startup studio Fractal created 130 companies in 3 years. Founders say the deal structure has led VCs to 'blacklist' them.
▼ + stars: | 2023-06-29 | by ( Melia Russell | Stephanie Palazzolo | ) www.businessinsider.com time to read: +19 min

www.fractalsoftware.comOf the dozens of Fractal startups that have raised a seed round of funding, about half had Bienville Capital lead the deal, according to people familiar with the matter. Others say they knew what they were getting into with a venture studio, where a large ownership position is standard. Brendan Smialowski/AFP via Getty ImagesThe biggest draw for some Fractal founders was its plug-and-play approach. The founder of one Fractal startup remembered a time when his company was struggling to grow its customer base. That firm is raising a new $325 million fund to provide additional funding to Fractal companies exclusively, according to a person familiar with the effort.

Persons: Fractal's, he'd, they'd, Andreessen Horowitz, Mike Furlong, Nate Baker, Bienville, —, Brendan Smialowski, Founders, Angela Lee, Furlong, Baker, Ezra Shaw, who'd, who's, It's, Lee, She's, 8VC, Bain, Jeff Greenberg, Omri Bloch, who've, didn't, Stephanie Palazzolo, Melia Russell Organizations: Flatiron Health, Bienville, Insight Partners, Bienville Capital, Getty, Columbia Business School, Alpha, Midwest, Science, Olympic Club, Tiger Global, Craft Ventures, Founders, Vertical Venture Partners, Zag, Crew Capital, Bain Capital, Universal, Foundation, Fifth Locations: Bienville Capital, New York, Bienville, Indio, AFP, Santa Monica , California, Miami, San Francisco, GreenSpark, Columbia, Barti, Aktos, Bessemer, 8VC

☆ The Crises of Heat and Smoke Share a Common Thread: Climate Change
▼ + stars: | 2023-06-28 | by ( Raymond Zhong | Delger Erdenesanaa | ) www.nytimes.com time to read: 1 min

Between the dangerous heat baking Texas and the Southeast, and the wildfire smoke filling the skies throughout the Upper Midwest and into the Mid-Atlantic, people across a huge part of the United States have been seeking relief from the outside world in recent days. The two threats this week aren’t connected directly. But a common factor is adding to their capacity to cause misery. Human-caused climate change is turning high temperatures that would once have been considered improbable into more commonplace occurrences. And it is intensifying the heat and dryness that fuel catastrophic wildfires, allowing them to burn longer and more ferociously, and to churn out more smoke.

Locations: Texas, Midwest, United States

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