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☆ RBA needs to abandon its tightening bias: Chief Economist
▼ + stars: | 2024-08-06 | 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 EmailRBA needs to abandon its tightening bias: Chief EconomistMatthew Peter, Chief Economist at QIC says the RBA is treading a fine line with its messaging, saying it should not be talking down the Australian economy too much.

Persons: Matthew Peter Organizations: QIC

☆ A Chinese firm's answer to Elon Musk's Starlink just launched its first satellites for the thousands-strong network Beijing plans to build
▼ + stars: | 2024-08-06 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

A Chinese company just kicked off its planned 15,000-strong satellite network to rival Starlink. The Thousand Sails Constellation, run by a Shanghai firm, plans to reach that final tally by 2030. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA Chinese state-backed company has launched its first 18 satellites in its bid to build a vast orbital network aimed at rivaling Starlink, according to local media.

Persons: Starlink, — Organizations: Sails, Service, Shanghai Spacecom Satellite Technology, China Securities Journal, Xinhua, Business Locations: Shanghai, Starlink, Taiyuan, Shanxi province

☆ China's naval commandos rode electric skateboards into a combat exercise with drones disguised as birds, then left in a pickup truck
▼ + stars: | 2024-08-05 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

Chinese state TV showed armed commandos riding electric skateboards in a combat exercise. The naval special forces also deployed drones designed to flap like an eagle and a sparrow. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChina's special forces showcased electric skateboards, jet surfboards, and other gadgets in a combat demonstration televised on Thursday.

Persons: — Organizations: Service, China Military TV, Nanchang Infantry Academy, Jiaolong Commandos, Business Locations: Jiangxi

☆ The global 'carry trade' is unwinding. Here's why it's a brutal force crushing stocks worldwide.
▼ + stars: | 2024-08-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The unwind of the global yen "carry trade" is a force battering stocks. AdvertisementStocks plunged on Monday, and market pros say a lot of it has to do with the global unwind of the yen "carry trade." The carry trade refers to investors borrowing money at near-zero interest rates in Japan, and then redeploying that cash into higher-yielding assets around the world, such as stocks and bonds. "The selloff here is to a large extent attributable to the unwind of the so-called carry trade," Ed Yardeni told Yahoo Finance on Monday. AdvertisementThe unwind in the yen carry trade will go down as the biggest ever, according to a Monday note from Societe Generale.

Persons: —, Stocks, Ed Yardeni, that's, Yardeni, That's, Kit Juckes, Warren Buffett's, Juckes, It's Organizations: Service, Yahoo Finance, Bank of Japan, Federal, Bank of, Federal Reserve, Societe Generale Locations: Japan, Bank of Japan

☆ Judge orders DOJ to return helmet, spear to 'QAnon Shaman' Jacob Chansley
▼ + stars: | 2024-08-05 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

"QAnon Shaman" Jacob Chansley will regain possession of the makeshift spear and horned helmet that he carried as he stormed the U.S. Capitol during the Jan. 6, 2021, riot with other Trump supporters, a federal judge ruled Monday. "Since the government has not established that it still needs these items as evidence and has not sought their forfeiture, the Court will GRANT Mr. Chansley's motion," Lamberth wrote. The DOJ last month said it wanted to hold on to Chansley's property, because despite having expressed remorse at his criminal sentencing, he has since challenged his conviction and sentence. "Even if the government may need to reprove Mr. Chansley's guilt, the government has not explained why it would need his property," the judge wrote in Monday's order. "He was like thousands of others that day," Lamberth wrote in Monday's order.

Persons: Jacob Chansley, Royce Lamberth, GRANT Mr, Lamberth, District of Columbia Matthew Graves, Chansley's, Chansley, Joe Biden, Donald Trump, Trump, Mike Pence Organizations: U.S, Senate, U.S . Capitol, Capitol, Trump, Justice, Washington , D.C, DOJ, Attorney, District of Columbia Locations: Washington ,, United States, American

☆ Olympic moment of the day: 3x3 basketball has its first classic final and a potential turning point
▼ + stars: | 2024-08-05 | by ( Kyle Feldscher | ) edition.cnn.com time to read: +4 min

First, it was the women’s final between Germany and Spain coming down to the final seconds. And then on the final shot of the game, Gracia Alonso’s desperation shot at the buzzer clanged off the rim. Germany's Marie Reichert takes the ball to the hoop against Spain's Sandra Ygueravide in the women's 3x3 basketball gold medal game. In Olympic 3x3 basketball’s overtime, the first team to score two points wins. The Dutch fans lost their minds as the French crowd fell silent in shock.

Persons: Paris CNN —, bouche, Sonja Greinacher, Juana Camilion, Marie Reichert of, Gracia Alonso’s, Germany's Marie Reichert, Spain's Sandra Ygueravide, Matthew Stockman, Invalides, “ Allez, Les, ”, Johnny Hallyday, Worthy de Jong, Timothé, de Jong Organizations: Paris CNN, Games, Concorde, Notre Dame, Olympic, Dutch oranje – Locations: Paris, Tokyo, Germany, Spain, Marie Reichert of Germany, Spanish, France, The Netherlands, Luxor, Notre, Dutch oranje

Officials are relying on multiple streams of intelligence, and there are divisions among national security officials on how and when Iran’s response might unfold. The relative uncertainty has left the Biden administration in a defensive crouch as it tries to rally allies and pressure Iran not to escalate tensions. The extent of the United States’ further involvement in the war largely depends on how exactly Iran responds to Haniyeh’s death. US destroyers helped shoot down ballistic missiles and drones launched by Iran at Israel in April. Biden and Vice President Kamala Harris also met with the administration’s national security team in the White House Situation Room later Monday afternoon.

Persons: Ismail Haniyeh’s, crouch, Haniyeh –, Fu’ad Shukr, Israel, Majdal Shams, United States ’, Cole, Biden, “, Kamala Harris, Matthew Miller, Miller, Jomana Karadsheh, Michael Conte, Alex Marquardt, Zahid Mahmood Organizations: Washington CNN, Washington, CNN, Biden, United, US Central Command, State Department, US, Command Locations: Tehran, Iran, Washington, Israel, Lebanon, Gaza, Hezbollah, United States, Majdal, Golan, Gulf, Oman, Jordanian, Syria

☆ Dow plunges more than 1,000 points as global stock rout deepens on recession fear
▼ + stars: | 2024-08-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The stock market crashed Monday, with the Nasdaq 100 dropping nearly 6%. AdvertisementUS stocks crashed on Monday, with the Nasdaq shedding nearly 6% as the global market rout that kicked off late last week accelerated. AdvertisementThe losses accelerated on Monday after Japan's stock market experienced its worst decline since the Black Monday crash in 1987, falling 12%. Berkshire Hathaway now holds a record $277 billion in cash, leading to some investors worrying that Buffett has soured on the stock market. The bigger question is whether this bloodletting will prove sufficient to provide a basis for a resumption of the stock market rally, and ultimately fresh record highs.

Persons: —, nonfarm payrolls, Jamie Cox, Warren, Berkshire Hathaway, Buffett, bitcoin, David Morrison Organizations: Nasdaq, Berkshire Hathaway's Apple, Service, Dow Jones, Amazon, Intel, Bank of Japan, Federal Reserve, Harris Financial, Berkshire Hathaway's, Berkshire, FCA Locations: Berkshire

☆ Dow crashes 1,000 points and the Nasdaq loses 3% as recession fears fuel market panic
▼ + stars: | 2024-08-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

US stocks plunged Monday amid recession fears and the yen carry trade unwind. AdvertisementUS stocks plunged on Monday as investors worried about a potential recession and the knock-on effects from the unwind of the yen carry trade. All of those factors have drummed up fears that a recession could be imminent, especially given that the Federal Reserve could be "behind the curve" in its failure to cut interest rates last month. AdvertisementHere's where US indexes stood at the 4:00 p.m. closing bell on Monday:Some believe the Fed should implement an emergency interest rate cut, including Wharton professor Jeremy Siegel. AdvertisementBut perhaps the biggest driver of Monday's stock market decline was the unwind of the yen carry trade.

Persons: Dow Jones, —, payrolls, Warren, Berkshire Hathaway, Jeremy Siegel, Siegel, LPL, Ed Yardeni Organizations: Nasdaq, Bank of, Service, Dow Jones, Apple, Amazon, Intel, Federal, Here's, Bank of Japan, Yahoo Finance Locations: Japan

☆ Here's what goes on behind the scenes in the nerdworld business' coolest alliance
▼ + stars: | 2024-08-05 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +6 min

At the time, "Critical Role" — the "D&D" Twitch stream that turned the company Mercer co-founded into a key player in the nerdworld business — was just taking off. Advertisement"There's love at first sight, and this is one of those variations," Mercer told BI. Mercer is the chief creative officer at Critical Role, working with his eight friends on everything from Amazon-backed animation series' to board game ventures. AdvertisementOn to 'Downfall'Mercer and Mulligan had a lot of fun crafting the world of Aeor together, they told BI. Critical RoleMulligan told BI he had long watched Critical Role, and that he got to dive deep into Mercer's lore while working on EXU Calamity.

Persons: —, Brennan Lee Mulligan, Matthew Mercer, who's, Mulligan, Mercer, gunning, Matt, it's, Aeor Mulligan, Brennan, Lee Mulligan, AeorForever, PhVFddZD4Q — Clara, they're, Essek Organizations: Service, Business, West Hollywood, Garden, Wembley Arena, Tourism Locations: Mercer, Madison, London, Los Angeles

☆ What goes on behind the scenes in the most formidable alliance in the nerdworld business
▼ + stars: | 2024-08-05 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +6 min

At the time, "Critical Role" — the "D&D" Twitch stream that turned the company Mercer co-founded into a key player in the nerdworld business — was just taking off. Advertisement"There's love at first sight, and this is one of those variations," Mercer told BI. These two men have now formed a formidable alliance in the nerdworld business. AdvertisementOn to 'Downfall'Mercer and Mulligan had a lot of fun crafting the world of Aeor together, they told BI. Critical RoleMulligan told BI he had long watched Critical Role, and that he got to dive deep into Mercer's lore while working on EXU Calamity.

☆ In Photos: The best fashion, looks and trends from the 2024 Paris Olympics so far
▼ + stars: | 2024-08-05 | by ( Leah Dolan | ) edition.cnn.com time to read: +6 min

Even the Olympic athletes are letting their personalities shine through via arty manicures or spray-painted hair. Christophe Petit Tesson/Pool/EPA/ShutterstockBritish Prime Minister Keir Starmer wore a Team GB rain jacket to the opening ceremony of the Olympic Games Paris 2024. Matthew Stockman/Getty ImagesLady Gaga wore custom-made Dior during her cabaret-inspired performance at the opening ceremony. John Walton/PAUS track and field athlete Sha'Carri Richardson dazzled the camera with her custom manicure during the opening ceremony. Jamie Squire/Getty ImagesModel Kendall Jenner seen wearing Team USA merchandise and high-waisted jeans on August 1.

Persons: Anna Wintour, Ariana Grande, Thom Browne, Zendaya, Law Roach, Jean, Charles de Castelbajac, it’s, Keir Starmer, —, Celine Dion, Serena Williams, Louis Vuitton, Fondation Louis Vuitton, Anthony Behar, Cynthia Erivo, Vuitton, Browne, Christophe Petit Tesson, Karwai Tang, Thelma Davies, Emmanuel Matadi, Lars Baron, Getty, Chrissy Teigen, John Legend, Matthew Stockman, Lady Gaga, Dior, John Walton, Sha'Carri Richardson, Ashley Landis, Dr, Jill Biden, Ralph Lauren, Karen Bass, Jamie Squire, Shirine Boukli, Buda Mendes, Sauer, Charles McQuillan, Snoop Dogg, Charlie Riedel, Jessica Chastain, Yuto Horigome, Sara Balzer, Mustafa Ciftci, Nicole Kidman, Natalie Portman, Simone Biles, Pete Dovgan, ” Biles, “, I’m Simone Biles, Kendall Jenner, Sharon Stone, Spain's Carlos Alcaraz, Serbia's Novak Djokovic, Arturo Holmes, Jordan Chiles, Alvaro Diaz, Latifah, Sameer Al, Princess Anne, Pascal Le Segretain, Noah Lyles, Christian Petersen, Kirill Kudryavtsev Organizations: CNN, Olympic Games, Vogue, arty, Starmer’s, Fondation Louis, British, Team Liberia, Getty, USA, South Korean Olympic, NBC, Apple, Nike, Kyodo, Anadolu Agency, Speed, Team USA, Europa Press, Team Locations: Paris, New York, Chloé, AFP, Los Angeles, Spring , Texas, Serbia, USA

☆ Why the Fed is being blamed for the historic stock-market plunge
▼ + stars: | 2024-08-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The Federal Reserve is catching some heat for the historic stock market plunge. AdvertisementThe Federal Reserve is to blame for the historic stock market plunge since last week, according to a growing chorus of market experts. JPMorgan strategist Mislav Matejka said in a Monday note that the lack of Fed rate cuts in the first half of the year will weigh on economic growth in the second half, and that any coming interest rate cuts from the Fed likely won't be enough. AdvertisementRegardless of what the Fed's motivation might be with waiting until September to cut interest rates, the market is taking away a pretty clear message. "There is growing sentiment is that the Fed has waited too long to cut interest rates and is now behind the curve," Comerica Wealth Management CIO John Lynch said.

Persons: —, Wharton, Jeremy Siegel, Siegel, Jerome Powell, Powell, they've, we're, Kamala Harris, Mislav Matejka, Matejka, Paul Volcker, Volcker, DataTrek, Nicholas Colas, John Lynch Organizations: Federal, Service, Federal Reserve, Nasdaq, CNBC, Washington DC, JPMorgan, Fed, Comerica Wealth Management Locations: Iran, Japan, Washington

☆ Apple leads tech rout after Berkshire Hathaway sells more than half of its stake
▼ + stars: | 2024-08-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Apple stock plunged as much as 11% on Monday on news that Berkshire Hathaway sold about 50% of its stake. Warren Buffett's conglomerate sold about 390 million Apple shares in the second quarter. The decline in Apple shares, which was double the Nasdaq 100's decline of about 5%, came after it was revealed over the weekend that Warren Buffett's Berkshire Hathaway sold about 50% of its Apple stake. According to its second-quarter earnings report, Berkshire Hathaway sold about 390 million Apple shares during the quarter, which is on top of the 115 million Apple shares it sold during the first quarter of the year. This is an opportunity, especially going into what I view as a really historic upgrade cycle for Apple," Ives said.

Persons: Berkshire Hathaway, Warren Buffett's, —, Warren, Buffett, Cathy Seifert, Dan Ives, Ives, It's Organizations: Apple, Berkshire, Service, CFRA, CNBC Locations: Berkshire, Cupertino

The Serbian tennis legend had won all four Grand Slam titles and practically every honor there is in the sport, but the Olympic gold medal had escaped him. Paul Ellis / AFP via Getty ImagesSimone Biles' Olympic medal collection has officially reached double digits. , the American cyclist who didn’t even qualify for the Olympics but is now going home with a gold medal. Racing in a downpour, Julien Alfred won the first Olympic medal in any sport for Saint Lucia on Saturday when she took gold in the women's 100-meter final. the first Olympic medal in any sport for Saint Lucia on Saturday when she took gold in the women's 100-meter final.

Persons: Noah Lyles, Jamaica’s Kishane Thompson, ’ Fred Kerley, Hector Vivas, Lyles, Novak Djokovic, Matthew Stockman, Novak Djokovic couldn’t, Djokovic, Carlos Alcaraz, Simone Biles, Paul Ellis, ”, Biles, hasn’t, “, ” Biles, Suni Lee, Kaylia Nemour, Qiu Qiyuan, David Li, Imane, Hungarian Anna Luca Hámori, ” Khelif, Lin Yu, Thomas Bach, Kristen Faulkner, Bobby Finke, Katie Ledecky can’t, Julien Alfred, Saint Lucia, Sha'Carri Richardson, Kamala Harris, Whom Harris, we’ll, Andy Beshear, Pete Buttigieg, Sen, Mark Kelly of, JB Pritzker, Josh Shapiro, Tim Walz, MAGA, Harris, Nikki Haley, Donald Trump, Trump, Vance, SCOTUS, Neil Gorsuch, Joe Biden's, Debby, Storm Debby, Darren Staples, Keir Starmer, Israel, Ismail Haniyeh, Fuad Shukr, “ They’ll, Michael G Organizations: Paris Olympics, U.S, Olympic, Getty, NBC News Algerian, Team USA, Saint, Paris, Taxi, Philadelphia . Kentucky Gov, Mark Kelly of Arizona ,, Mark Kelly of Arizona , Illinois Gov, Minnesota Gov, Democratic, Republican, GOP, ABC, Fox News, Tropical, National Hurricane Center, NOAA, U.S . Justice Department, Protesters, NBC News, NBC News Companies Locations: Serbian, Paris, Tokyo, Los Angeles, China, Hungarian, Taipei, U.S, Philadelphia . Kentucky, Mark Kelly of Arizona, Mark Kelly of Arizona , Illinois, Pennsylvania, Florida, of Mexico, Rocky, Southern California, Mississippi’s, Nottingham, England, AFP, Southport —, Liverpool, Hull, Israel, Iran, Breakwater, Rockland , Maine, South Florida, Nashville , Tennessee, Atlanta

☆ Novak Djokovic says that Olympic gold ‘supersedes everything’ as he defeats Carlos Alcaraz in thrilling final
▼ + stars: | 2024-08-04 | by ( George Ramsay | ) edition.cnn.com time to read: +6 min

Upon winning match point, he roared with delight, dropped to his knees, then tearfully embraced his family and coaching team. Alcaraz plays a backhand in the men's singles gold medal match. Back-to-back errors handed Djokovic three set points before another cute forehand volley completed the marathon first set in an hour and 33 minutes. It’s just incredible joy.”Djokovic had long targeted winning a gold medal at the Olympics. Amber Searls/USA Today Sports/ReutersAt 21, Alcaraz had been aiming to become the youngest man to win an Olympic singles gold medal.

Persons: Roland Garros, Paris CNN —, Novak Djokovic, Djokovic outdueled Spain’s Carlos Alcaraz, Djokovic, Rafael Nadal, Andre Agassi, Steffi Graf, Serena Williams, ”, ” Djokovic, Clive Brunskill, Alcaraz, Matthew Stockman, “, mettle, Djokovic didn’t, It’s, Amber Searls, “ I’m, ” Alcaraz, Novak Organizations: Paris CNN, Alcaraz, Wimbledon, Paris Olympics, USA, Sports, Reuters Locations: Paris, Beijing, Serbia

☆ Novak Djokovic beats Carlos Alcaraz to win Olympic gold and career Golden Slam
▼ + stars: | 2024-08-04 | by ( Matthew Futterman | James Hansen | ) www.nytimes.com time to read: +12 min

Relive how Novak Djokovic won Olympic gold against Carlos Alcaraz with game-by-game live coverage from the matchPARIS — Novak Djokovic beat Carlos Alcaraz 7-6(3), 7-6(2) in the men’s singles Olympic final at Roland Garros in Paris on Sunday. Djokovic won in four. GO DEEPER Novak Djokovic and Carlos Alcaraz meet in a Wimbledon final duel of the extraordinaryThe first set lasted 93 minutes. After the Wimbledon final, Djokovic was largely sanguine about how soundly he had been beaten, saying Alcaraz was simply better in every department. It was a confidence and a quality not seen since that French Open final in 2023 and perhaps the US Open final in the same year.

Persons: Novak Djokovic, Carlos Alcaraz, PARIS — Novak Djokovic, Roland Garros, Alcaraz, Matt Futterman, James Hansen, Djokovic, Philippe, Chatrier, Miguel Medina, Novak, crunching forehands, Patricia de Melo Moreira, deuce, hadn’t, Lorenzo Musetti, Thibaud Moritz, ” Djokovic, “, Jelena's, ”, Roger Federer, Alex de Souza, Carlos, Rafa, Spain …, Matthew Stockman Organizations: Olympic, PARIS, Djokovic, Wimbledon, Games, Getty, Cincinnati, Olympics, U.S, Serbia, Spain Locations: Paris, AFP, Alcaraz

And each finalist offers the newly minted Democratic Party leader a particular way to balance the ticket. Here’s how each could uniquely help the Democratic ticket — plus the potential drawbacks already getting attention. Andy BeshearNo current Democratic governor has won a redder state than Kentucky, where Beshear has won statewide three times. That appeal could help boost the Democratic ticket with working-class, independent and even some Republican voters in battleground states across the U.S. Tim WalzWalz has won Democratic plaudits for a string of progressive policy wins in his state.

Persons: Kamala Harris ’, Harris, we’ll, Andy Beshear, Pete Buttigieg, Sen, Mark Kelly of, JB Pritzker, Josh Shapiro, Tim Walz, Beshear, Jon Cherry, Kelly, wouldn’t, Trump, JD Vance, Shapiro, Shawn Fain, “, ”, “ He’s, Pete Buttigieg Buttigieg, Evan Vucci, Buttigieg, Biden, He’s, Donald Trump, Vance, he’s, Joe Biden, Mark Kelly of Arizona, Eric Thayer, Arizona —, Gabby Giffords, UAW’s Fain, Kelly isn’t labor’s, JB Pritzker Pritzker, Pritzker, It’s, Josh Shapiro Shapiro, Matthew Hatcher, Shapiro “, who’ve, Tim Walz Walz, Stephen Maturen, Walz, He’d, Harris ’, they’ve, George Floyd, Walz’s Organizations: Democratic Party, NBC News, Kentucky Gov, Mark Kelly of Arizona ,, Mark Kelly of Arizona , Illinois Gov, Minnesota Gov, Democratic, Getty, Concordia Unlike Shapiro, Democrat, U.S, United Auto Workers, CNN, ”, Fox News, Biden, The Washington, U.S . Navy, NASA, Republican, PRO, Illinois Gov, Chicago, Michigan . Pennsylvania, Trump, Pennsylvania Republicans, Capitol, National Guard Locations: Philadelphia, Mark Kelly of Arizona, Mark Kelly of Arizona , Illinois, Pennsylvania, Kentucky, Harris, Georgia, North Carolina, Ohio, Appalachia, South Bend , Indiana, Indiana, Michigan, Iowa, Arizona, Central, Mexico, U.S, Illinois, Wisconsin, AFP, Israel, Minnesota, Wisconsin , Michigan, Minneapolis

He called it “a historic settlement to resolve all tort claims arising from the Maui wildfires.”The wildfires are the deadliest in modern American history and caused damages estimated at $5 billion. "This Global Settlement of over $4 billion will help our people heal," Green said in a statement. Burned cars and buildings in Lahaina, Hawaii on Aug. 13, 2023. Hundreds of suits have piled up against Hawaiian Electric, accusing the company of negligence and ignoring repeated warnings of the possibility of a catastrophic inferno igniting on the island. Hawaiian Electric is a for-profit, investor-owned company that serves 95% of the state’s electric customers.

Persons: Josh Green, Green, Matthew Thayer, Mengshin Lin Organizations: Maui News, Electric, Kamehameha Schools, Maui Land Co, Charter Communications, Legislature, The Washington, Getty, Hawaiian Locations: Hawaii, Maui, Lahaina, Waiola, Lahaina Hongwanji, Hawaii , County, Lahaina , Hawaii, West Maui

☆ Real estate values in Texas and Florida are being hit by violent weather as insurance costs spike
▼ + stars: | 2024-08-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The rise in violent weather events over the past few years are driving a decline in real estate values in Texas, Florida, and Louisiana, according to a recent note from Capital Economics. Related storiesAccording to data from MSCI, insurance costs in Florida have more than doubled from less than 2% of income receivable in 2017 to 4.5% at the end of 2023. And those higher costs have ultimately helped drag down property values in impacted regions, especially in the multifamily sector. Capital EconomicsBut there has been a sign of hope in that the rate of growth in insurance costs appears to have peaked, according to Pattison. But she says the ongoing trend of violent weather could still exacerbate the issue in the future, further driving real estate values down in the most impacted regions.

Persons: Imogen Pattison, Beryl —, Karen Clark, they're, Pattison, CBRE Organizations: Service, Capital Economics, Business Locations: Texas , Florida, Louisiana, MSCI, Florida, multifamily, Florida , Texas

☆ Zheng Qinwen summons inner strength to claim China’s first Olympic singles gold medal with victory against Donna Vekić
▼ + stars: | 2024-08-03 | by ( George Ramsay | ) edition.cnn.com time to read: +5 min

Against Croatia’s Donna Vekić, Zheng produced a stunning display of powerful hitting on the clay of Roland Garros, triumphing 6-2, 6-3 in a hard-fought gold medal match. Upon winning match point, her delight was laid bare. Vekić, already making history as the first Croatian tennis player to reach an Olympic singles final, took longer to settle. “I’m really happy to be here, to have won the gold medal, to represent my country,” she added. “I’m supposed to become better, but after this gold medal, I feel I can finally play tennis a bit more relaxed.”Zheng’s path to the gold medal, not just because of her semifinal victory against bronze medalist Swiatek, has hardly been straightforward.

Persons: Paris CNN — Zheng Qinwen, Donna Vekić, Zheng, Roland Garros, Don’t, Li Na, ” Zheng, Clive Brunskill, Zheng thumped, Vekić, Matthew Stockman, –, Zheng breezing, Li Ting, Sun Tiantian, ”, “, “ I’m, Swiatek, Emma Navarro, Angelique Kerber, Coco Gauff, Bianca Andreescu, ” Vekić Organizations: Paris CNN, Paris Olympics, Vekić, Olympics, Wimbledon Locations: Croatian, Olympics, Athens, Paris

☆ 3 Americans returned in Russia prisoner swap may face challenges
▼ + stars: | 2024-08-03 | by ( Ashley R. Williams | ) edition.cnn.com time to read: +9 min

Brittney Griner, left, and Trevor Reed, were released from detention in Russia in 2022 and returned to the United States in separate prisoner exchanges. Getty ImagesAfter the dust settlesWhelan, Gershkovich and Kurmasheva headed to Brooke Army Medical Center for medical evaluations and additional care for as long as necessary, a US official told CNN. The non-profit supports detainees and hostages while they’re still held in captivity and after their release back to the US, Cathcart told CNN. Matthew Heath was released from being detained in Venezuela in a prisoner swap in October of 2022. Matthew HeathReturnees might return to a different family dynamic than what they were used to, according to Cathcart.

Persons: Evan Gershkovich, Paul Whelan, Alsu Kurmasheva, Joe Biden, Kamala Harris, Whelan, Gershkovich, Kurmasheva, Brittney Griner, Viktor Bout, Roger Carstens, “, ”, Matthew Heath, he’s, ” Heath, Trevor Reed, Griner, Liz Cathcart, they’re, Cathcart, ” Cathcart, ” Readjusting, Jorge Toledo, CNN reintegrating, ” Toledo, CNN’s Pamela Brown, who’s, they’ve, It’s, ” Arianna Galligher, ” Griner, you’re, Heath, CNN’s Simone McCarthy, Anna Chernova, Nathan Hodge, Jennifer Hansler, Rosa Flores, Colin McCullough, Nouran Salahieh Organizations: CNN, Base Andrews, Wall Street, US State Department, Radio Free, Radio Liberty, Russian, Associated Press, Brooke Army Medical Center, Hostage, Citgo Corporation, The Ohio State University Wexner, Resilience, New York Times Magazine, Phoenix Mercury, ” Locations: Maryland, Russia, Russian American, Moscow, Prague, Radio Free Europe, San Antonio , Texas, Knoxville , Tennessee, Venezuela, United States, Heath, “, Cathcart

Tracking Hurricane Debby Leer en españolDebby was a Category 1 hurricane in the Gulf of Mexico late Sunday Eastern time, the National Hurricane Center said in its latest advisory. The hurricane had sustained wind speeds of 75 miles per hour. Debby is the fourth named storm to form in the Atlantic in 2024. In late May, the National Oceanic and Atmospheric Administration predicted that there would be 17 to 25 named storms this year, an above-normal amount. Without El Niño this year, clouds are more likely to tower to the tall heights needed to sustain a powerful cyclone.

Persons: Leer, Debby Organizations: Sunday, National Hurricane Center, Fort Myers, Fort Myers Cedar Key, United States, National Oceanic, Atmospheric Administration, Hurricanes Locations: Gulf of Mexico, Fort Myers Cedar, Fort Myers Cedar Key Tampa, United States

☆ How an Elon Musk-backed PAC is gathering data to boost Trump
▼ + stars: | 2024-08-02 | by ( Brian Schwartz | ) www.nbcnews.com time to read: +8 min

How do I start?”The ad then displays a website for a group called America PAC. “I have created a PAC, or a super PAC ... the America PAC,” Musk said in a recent interview. But what is unique about America PAC’s project is who is backing it and the timing of its creation. The America PAC raised over $8 million between April 1 and June 30, according to FEC records. He recently said on X that he is “making some donations to America PAC,” but did not say how much.

Persons: “, Donald Trump, Trump, they’ll, Elon Musk, Kamala Harris, ” Musk, Musk, ”, Brendan Fischer, Fischer, ” Fischer, Phil Cox, Generra Peck, Dave Rexrode, Doug Leone, Cameron, Tyler Winklevoss, Joe Lonsdale, Lonsdale, Harris, Daniel Weiner, Brennan, Matthew Baum, Baum, Weiner Organizations: Google, America PAC, Tesla, Republican, Democratic, Forbes, PAC, Facebook, YouTube, America, “ America PAC, Trump, The New York Times, FEC, Harvard Kennedy School Locations: Michigan, California, Wyoming, Pennsylvania, Georgia, Arizona , Michigan, North Carolina , Nevada , Pennsylvania, Wisconsin, America, Trump

☆ Zelenskyy says Russia is giving up on Kharkiv, months after Moscow tried to blow open the war's northeastern front
▼ + stars: | 2024-08-02 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

Volodymyr Zelenskyy said Russia has shifted its focus away from Kharkiv, concentrating instead on the east. His statement comes months after Moscow pushed into Kharkiv from the north with thousands of troops. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUkrainian President Volodymyr Zelenskyy said on Wednesday that Russia has moved its focus away from Kharkiv and to the eastern front, with fighting intensifying near the city of Pokrovsk. This story is available exclusively to Business Insider subscribers.

Persons: Volodymyr Zelenskyy, hasn't, —, Zelenskyy Organizations: Service, Kharkiv, Pravda, Business Locations: Russia, Kharkiv, Moscow, Pokrovsk

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