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☆ Taylor Swift is doing 8 Eras shows in London. Mini-residencies could be her smartest business decision yet.
▼ + stars: | 2024-07-05 | by ( Madeline Berg | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. The Eras Tour was always set to be immensely profitable for Swift, but she's set to make even more money thanks to one key business move. Swift is set to play eight nights in London and six in cities like Toronto — and she's skipping nearby cities that she's hit on past tours like Ottawa. Advertisement"It significantly reduces the overhead of a tour," Nathan Hubbard, the former CEO of Ticketmaster who founded the management firm Firebird, told Business Insider.

Persons: —, Taylor Swift's, Swift, Nathan Hubbard, Harry Styles, Hubbard, That's, she's, Taylor Organizations: Service, Wembley, European Central Bank, Barclays, Business, Swift, Ticketmaster, Firebird, Garden, Kia Forum, Las, Pitchfork, Institute Locations: Europe, London, Toronto, Ottawa, Los Angeles, San Diego, New, Covid, Las Vegas, Scotland, Minneapolis

☆ Iran's Islamic Revolutionary Guard Corps gets powerful ships to confront adversaries well beyond the Persian Gulf
▼ + stars: | 2024-07-04 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +17 min

Read previewIn the last three years, Iran's Islamic Revolutionary Guard Corps Navy has commissioned hundreds of new vessels. AdvertisementThe Shahid Hassan Bagheri is one of three new Soleimani-class missile corvettes that are the most heavily armed warships in the Islamic Revolutionary Guard Corps Navy's fleet. Despite being lightly armed, it has a record of harassing US vessels and civilian ships in the Persian Gulf. AdvertisementThree Soleimani-class corvettes, Shahid Soleimani, Shahid Hassan Bagheri, and Shahid Sayyad Shirazi, have been commissioned, while a fourth, Shahid Ra'is-Ali Delvari, is under construction. AdvertisementMahdavi will eventually be joined by another converted container ship, the Shahid Bagheri.

Persons: —, Shahid Hassan Bagheri, Morteza Nikoubazl, Ayatollah Ali Khamenei, Shahid Soleimani, Nazeri, Shahid Nazeri, SAMs, Shahid Sayyad Shirazi, Shahid Ra'is, Ali Delvari, Hassan Bagheri, Abu Mahdi al, Shahid, Alireza Tangsiri, Shahid Mahdavi, 400Y8DYPlr — Mehdi H, Shahid Roudaki, Roudaki, Mahdavi, Lewis B, Puller, Shahid Bagheri, Bagheri, Tangsiri, IRGCN, Ayatollah Khamenei, Nadimi, Saviz, Diego Garcia, Benjamin Brimelow Organizations: Service, Islamic Revolutionary Guard Corps Navy, Business, Islamic Revolutionary Guard Corps Navy's, Islamic Revolutionary Guard Corps, US, Quds Force, Guard, Southern Hemisphere, American, British, Washington Institute for Near East Policy, Global Affairs, Fletcher School of Law, Diplomacy, Modern, Institute Locations: Iran, Saudi Arabia, Persian, Gulf of Oman, Hormuz, China, Russia, Taiwan, Norway, Yemen, Makran, Morteza, Israel, Lebanon, Hamas, Gaza, Syria, Mahdavi, West

☆ Sizzling out? As peak barbecue season begins, fewer Americans are buying grills
▼ + stars: | 2024-06-30 | by ( Erika Tulfo | ) edition.cnn.com time to read: +9 min

Lockdown was a grill (seller)’s best friendIt’s not a result of Americans cooking outside on grills less. Roy Morchian, owner of American Royal Hardware in Montclair, New Jersey, says grill sales have returned to pre-pandemic levels at the local True Value franchise. Downey sees Home Depot’s grill sales stabilizing now following the lockdown-driven high. Weber Grills are offered for sale at a home improvement store on July 23, 2021 in Palatine, Illinois. Traeger Grills holds demos and activations at Home Depot, Ace Hardware, and specialty retailers across the country.

Persons: Weber, ”, Brian Bushfield, It’s, Roy Morchian, Paul Glader, Joe Downey, Jessica Hernandez, ” Corey Martin, Traeger’s, Covid, ” Martin, Downey, Scott Olson, Jeremy Andrus, Simeon Siegel, they’re, “, Price, Shikhiu Ing, fryer, Andrus, Ayla Dunkley, Dunkley Organizations: CNN, West, Barbecue Association, American, Hardware, Depot Senior Merchant, CNN San Diego Grill, Texas, Grill, Downey, Getty, Weber, Rewards, Depot, BMO Capital Markets, US Department of Agriculture, “, ”, American Farm Bureau Federation Locations: Traqline, San Diego , California, Covid, Montclair , New Jersey, Montclair , NJ, Houston, Palatine , Illinois, Bloomfield , New Jersey, Newark , New Jersey, Pennsylvania

☆ His wife died. Then he unexpectedly found a second chance at love on vacation
▼ + stars: | 2024-06-28 | by ( Francesca Street | ) edition.cnn.com time to read: +14 min

“This was no normal train,” John recalls. Back home in the UK, John thought about Judy fondly from time to time. In the UK, John’s friends loved it when this glamorous American woman visited town. John Nears and Judy CurtisAs John and Judy haven’t been able to meet this year, they’ve both been spending time reflecting on past adventures. Thinking back on his life, John says he feels inordinately lucky to have enjoyed two great love stories.

Persons: John’s, Pam, “, ” John, John, Chris, marveling, Judy Curtis, Judy Malody, Judy, they’d, John –, ”, –, “ I’d, Coast –, Judy Curtis Judy, John she’d, she’d, ‘, ’ ”, Jack, She’d, “ Judy, Judy Curtis John, Madeira’s, who’d, Peru –, “ John, It’s, Judy doesn’t, he’s, “ We’ve, ’ John, Judy Curtis It’s, Cunard Queen Mary, she’s, “ It’s, Judy haven’t, they’ve, ” John’s, you’ve, who’ve, Pam’s Organizations: CNN, CNN Travel, Orient Express, Coast, San Diego International, San Diego, ”, “, Health Locations: South America, England, Bolivia, Peru –, Cusco, Puno, “, Peru, San Diego , California, New York, California, West Coast, United States, East Coast, San Diego, Madeira, Funchal, Istanbul, Turkey, British, ”, Antarctica, Yosmite , California, Iceland, Kenya, Tanzania

☆ A third of sharks are threatened with extinction. Here’s what one man is doing to help
▼ + stars: | 2024-06-28 | by ( Amy Chillag | ) edition.cnn.com time to read: +7 min

The International Union for the Conservation of Nature reports 35% of all shark species are threatened with extinction. The primary reason is overfishing; shark meat and fins are highly sought. That research has helped expand the number of shark species now regulated by CITES. Cardeñosa said when he got started in the field, there were only five or six shark species regulated by the CITES agreement. How you can help sharksOne of the easiest ways to help sharks and all marine life is to try to consume seafood from sustainable sources.

Persons: Florida CNN — Diego Cardeñosa, ”, Cardeñosa, Demian Chapman, Isaac Lawrence, they’ve, Diego Cardeñosa, Diego Cardeñosa Cardeñosa, ” Cardeñosa, “ Organizations: Florida CNN, International Union for, Nature, Fisheries, ”, Florida International University, International Trade, Fauna, FIU, Getty, Criminal Investigation, Interpol, CITES, Aquarium Seafood, FIU Foundation Locations: Miami, Florida, Colombia, Europe, South America, Hong Kong, Latin America, AFP, Sri Lanka, Spain, Belize, Panama, Ecuador, Peru, Brazil, China, Eastern, Baja , California, Central, Monterey

☆ What to know about the massive car dealership outage
▼ + stars: | 2024-06-28 | by ( Ramishah Maruf | Eva Rothenberg | ) edition.cnn.com time to read: +8 min

Here’s what you need to know about the massive software outage. Its systems are used by roughly 15,000 car dealerships across the United States and Canada. Under normal circumstances, the CDK software allows the dealership to register a vehicle almost instantaneously, but now the process faces heavy delays. It said it was able to bring a “small initial test group” of car dealerships back online. But the next morning, the company told dealerships another incident had happened.

Persons: CDK, aren’t, they’ve, Scott Campbell, CNN they’ve, Don Aycock, “, ”, Robbie Jacob, Jacob, Michael Deveney, Katelyn Salvato, hasn’t, Salvato, …, Callahan, We’ve, ” Callahan, it’s, Lisa Finney, ” Finney, ” Eric Noonan, John Dwyer, “ There’s, ” Noonan, Ryan Callahan, Tom McParland, McParland Organizations: New, New York CNN, Auto, CNN, Capital City Buick GMC, Buick, Diego —, Kia, Midway Automotive, Massachusetts, of Motor Vehicles, Pride Motor Group, “, DMV, Bloomberg, Binary Defense, Mazda, Automatch Consulting Locations: New York, North America, United States, Canada, Berlin , Vermont, Clay County , Florida, Diego, Lynn , Massachusetts, Eastern Europe, Seekonk , Massachusetts

☆ In a new round of 'panda diplomacy,' China sends giant bears to the U.S. after two decades
▼ + stars: | 2024-06-27 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

Four-year-old Yun Chuan, a male panda, and Xin Bao, a female panda who's turning four in July, departed from Bifengxia Giant Panda Base, in China's Sichuan province on Wednesday. The pair will reside at the San Diego Zoo for the next 10 years, according to a press release from the zoo. The Chinese team will spend about three months in San Diego to help the pandas settle in, state media China Daily said. Yun Chua, the male panda, is the son of Zhen Zhen, who was born at San Diego Zoo in 2007. The zoo has not had residing pandas since 2019, after a 27-year-old female giant panda, Bai Yun, and her 6-year-old son, Xiao Liwu, returned to China.

Persons: Yun Chuan, Xin Bao, Todd Gloria, I'm, Paul Baribault, Huang Shan, Yun Chua, Zhen Zhen, Bai Yun, Xiao Liwu Organizations: San Diego Zoo, San Diego, San Diego Zoo Wildlife Alliance, NBC News Locations: China, San Diego, U.S, Beijing, China's Sichuan, San, United States

☆ These are the 5 US cities you should buy a home in before you get priced out of the housing market, says 'Million Dollar Listing' real estate investor
▼ + stars: | 2024-06-26 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

Most of its residents are millennials, with its residents' median age being 33.6 years. As with Atlanta, most of its residents are millennials, with its residents' median age being 33.1 years. The median age of San Diego residents is 35.8 years. But it's also true that housing in San Diego trends toward the pricier end. San Diego, along with four other Californian cities, was marked as "impossibly unaffordable," according to the 2024 Demographia International Housing Affordability report.

Persons: —, Josh Altman, Altman, Sean Pavone, Eric Johnson, Pengyu Cheng, Michael Warren, Wager, it's, Altman didn't Organizations: Service, Business, Getty, Dallas, Texas, Popular, Disney, San Locations: Atlanta, Dallas, Orlando, Phoenix, San Diego, Texas, California, San Francisco, Eola, Miami, Arizona's, San Diego , California, Los Angeles, US

☆ San Diego Zoo: First panda pair to enter the US in 21 years take off from China
▼ + stars: | 2024-06-26 | by ( Jessie Yeung | ) edition.cnn.com time to read: +4 min

They were given a celebratory farewell at the Chinese base, attended by American and Chinese dignitaries, including performances and a gift exchange, according to a statement from the San Diego Zoo Wildlife Alliance. China loans pandas to more than 20 countries under a program often referred to as “panda diplomacy.” Its panda loans with Washington stretch back to 1972 – though the number of loans have decreased in recent years as US-China relations have worsened. The San Diego Zoo, one of the world’s most renowned, was the first American institution to carry out cooperative research on giant pandas with China. Yun Chuan’s mother, Zhen Zhen, was born at San Diego Zoo in 2007 to parents Bai Yun and Gao Gao, according to a press release issued by San Diego Zoo in April. Grandmother Bai Yun was born in China in 1991, and arrived at the San Diego Zoo in 1996.

Persons: Yun Chuan, Xin Bao, Xi Jinping, –, Yun Chuan’s, Zhen Zhen, Bai Yun, Gao Gao, Grandmother Bai Yun, Xi, Joe Biden, “ Organizations: CNN, Diego’s, China Conservation and Research Center, San Diego Zoo, San Diego Zoo Wildlife Alliance, Washington, World Wildlife Fund, Smithsonian National Zoo, Zoo Atlanta, Economic Cooperation Locations: China, California, Beijing, United States, Sichuan province, Ya'an City, Sichuan, Washington ,, Asia, San Francisco

☆ 'TikTok Star Murders' features audio footage Ali Abulaban filmed as he killed his wife. Here's what happened to him.
▼ + stars: | 2024-06-26 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +4 min

Read previewPeacock's "TikTok Star Murders" tells the story of content creator Ali Abulaban murdering his wife, Ana Abulaban, and her friend Rayburn Barron, one month after she accused her husband of domestic abuse. Ana Abulaban, who was 28 at the time, went to the authorities in September 2021 and accused her husband of domestic abuse, The Los Angeles Times reported. "TikTok Star Murders" features the audio Ali Abulaban captured as he murdered his wife. Several gunshots can be heard as well as Barron and Ana Abulaban shouting. Fischer told Variety that Ali Abulaban was offered the chance to appear in the documentary but, "respectfully declined based on his impending trial."

Persons: —, Ali Abulaban, Ana Abulaban, Rayburn Barron, Ana Abulaban's, Ali Abulaban's, cuddling, Barron, Ana, Elizabeth Fischer, Abulaban, Fischer, Variety Organizations: Service, Business, Los Angeles Times, San Diego Superior Court, Variety, Unit Films Locations: San Diego, San Diego's East, Shreveport, Louisana

☆ Investor Neil Hennessy says megacap tech trade is 'over' and to buy these two stocks instead
▼ + stars: | 2024-06-26 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Neil Hennessy said investors need to look at value stocks that offer attractive price-to-sales multiples and avoid what he sees as a dying "Magnificent Seven" trade. While Hennessy admitted that the Magnificent 7 stocks have performed well, he said their average price-to-earnings multiple sits at around 47 while their price-to-sales multiple is above 12. "The reality of our world is money is shifting over to value," said the University of San Diego alum. But Hennessy said the stock is attractively priced, with a price-to-sales multiple of 0.9 and P/E ratio of just 7. But the average price target implies the stock can turn around and surge more than 27% over the coming year.

Persons: Neil Hennessy, Hennessy, I'm, SPX Organizations: Oshkosh Corp, University of San Diego, Oshkosh, LSEG

☆ ‘Months to correct, if not years’: Car dealerships and customers feel the impact as CDK outage drags on
▼ + stars: | 2024-06-25 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +7 min

“The financial impact it will directly have on us will take months to correct, if not years,” Callahan said. Tom McParland, the owner of Automatic Consulting, a national car buying service, said the outage was impacting customers because they have fewer dealers to choose from. “It limits the customer’s leverage.”Some dealers also can’t apply factory rebates without CDK’s software, so customers may miss out on money-saving deals. Under normal circumstances, the CDK software allows the dealership to register a vehicle almost instantaneously, but now the process faces heavy delays. He told CNN he was able to buy the car but was unable to sign the title.

Persons: Ryan Callahan, ” Callahan, CDK, Tom McParland, ”, McParland, Michael Deveney, “, ” Deveney, Katelyn Salvato, hasn’t, Salvato, …, We’ve, they’ve, Scott Campbell, Nicolas, CNN they’ve, Don Aycock, Robbie Jacob, Jacob, Tekion Organizations: New, New York CNN, Mazda, North America, Automatic Consulting, Midway Automotive, Massachusetts, of Motor Vehicles, Pride Motor Group, “, DMV, CNN, Massachusetts Department of Transportation, Capital City Buick GMC, Porsche, Buick, Diego —, Kia, Cox Automotive Locations: New York, Seekonk , Massachusetts, Lynn, Berlin , Vermont, Los Angeles, ”, Clay County , Florida, Diego

☆ A return to the roots of presidential debates
▼ + stars: | 2024-06-24 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +10 min

CNN —CNN’s presidential debate will feel like something new for most Americans, but it is actually a return to the roots of presidential debates. J. David Ake/AFP/Getty Images Monica Moorehead, a presidential candidate from the Workers World Party, disrupts a presidential debate in Washington, DC, in 1996. Gerald Herbert/AP Barack Obama, right, and John McCain shake hands at the start of a presidential debate in 2008. Joseph Kaczmarek/AP Obama hugs his wife, Michelle, as Romney kisses his wife, Ann, after their third presidential debate in 2012. Ultimately, the commission was formed to create a nonpartisan framework for presidential debates – something that has been exported to other countries.

Persons: CNN —, Joe Biden, Donald Trump, Jake Tapper, Dana Bash, Sen, John F, Kennedy, Richard Nixon, Nixon, Howard K, Smith, Jimmy Carter, Gerald Ford, Carter, Jerry Mosey, Betty, David Hume Kennerly, John B, Ronald Reagan, Anderson, AP Carter, Reagan, Walter Mondale, George H.W, Bush, Michael Dukakis, Dennis Cook, Ross Perot, Bill Clinton, Clinton, Ron Edmonds, AP Clinton, Bob Dole, J, David Ake, Monica Moorehead, Joe Marquette, Mark Penn, Lorenzo Alvarez, Angelica, George W, Al Gore, Joe Raedle, Jim Lehrer, Gore, John Kerry, Gerald Herbert, Barack Obama, John McCain, Charles Dharapak, Obama, Mary Jackson's, Mitt Romney, Joseph Kaczmarek, Michelle, Romney, Ann, David Goldman, Hillary Clinton, Patrick Semansky, Salwan Georges, Biden, Chip Somodevilla, Alan Schroeder, ” Kennedy, Schroeder, “, Ford, John Anderson, sidestep, Trump, ” Schroeder, Abraham Lincoln, Stephen Douglas, Douglas, Read, haven’t, “ They’re, ” Organizations: CNN, Commission, CNN’s Atlanta, CBS, Getty, State University of New, Ford, Anderson, Cleveland Convention Center, AP, Music, Bettmann, Bushnell, Theater, Workers World Party, AP Workers, Hofstra University, AP Trump, Washington Post, Trump, Northeastern University, House, Republican, Republican National Convention, Biden, Lincoln, White, Illinois Senate, ABC News Locations: Los Angeles, New York, State University of New York, Albany, Cleveland, Hartford , Connecticut, Washington , DC, San Diego, El Paso , Texas, Hempstead , New York, Detroit, Soviet Union, Eastern Europe, Lincoln, Illinois

☆ How much a single person needs to earn to live alone in the 25 largest U.S. cities
▼ + stars: | 2024-06-22 | by ( Mike Winters | ) www.cnbc.com time to read: +4 min

You'll need to earn around $25 per hour to live on your own in the United States' 25 largest cities. But in nearly half of the 25 largest cities, the living wage is double that of the local minimum wage. Having employer-sponsored health insurance certainly helps: It shaves roughly $2 off the hourly living wage in the 25 largest U.S. cities, according to EPI's estimates. BostonHourly wage to cover basic costs: $34.02Hourly minimum wage: $153. DetroitHourly wage to cover basic costs: $19.70Hourly minimum wage: $10.33Want to be a successful, confident communicator?

Organizations: San, Boston, ., Seattle, Denver, Orlando, Inland, Miami, Phoenix, Tampa, Dallas, Houston, CNBC Locations: United States, That's, San Francisco, Boston, San Antonio, Detroit, . New York, Diego, Washington, Los Angeles, Atlanta, Portland , Oregon, Inland Empire, California, Chicago, Philadelphia, Baltimore, Minneapolis, St, Antonio

☆ She got on a flight to visit her boyfriend. Then she kissed a stranger she met on the plane
▼ + stars: | 2024-06-21 | by ( Francesca Street | ) edition.cnn.com time to read: +15 min

An airplane encounterAmy and Mike met on March 23, 2006, on an airplane about to depart Los Angeles International Airport. But then Mike apologized – half jokingly, half sincere – for ruining Amy’s flight. First in the coffee line, and later as they walked through the airport, Amy and Mike continued chatting. Mike didn’t want Amy to leave, but Amy wasn’t going to abandon a great career opportunity. Later this year, Amy and Mike hope to take their kids to Japan – an 11 hour plus flight from LAX.

Persons: Amy Osmun, she’d, Mike Gilberstadt, They’d, Amy, Mike, “, ”, wasn’t, Mike couldn’t, dietician, She’d, sauntering, Mike —, –, Mike –, Mike’s, I’d, he’d, Amy marveled, Mike didn’t, Amy wasn’t, ” He’s, Amy Gilberstadt “, Valentine, Amy Gilberstadt, ” Amy, “ I’d, I’ve, I’m, “ You’re, Barbies, ‘ I’ve, ” “, Amy’s, “ We’re, they're, Kelli Gase, they’ve Organizations: CNN, CNN Travel, Los Angeles International Airport, California State University, Amsterdam Schipol Airport, LAX, Scotland, TiVo, . Locations: Amsterdam’s, Scotland, Greece, Southern California, Amsterdam, California, Mike’s, Orange County, San Diego, Venice, Italy, Ireland, Hong Kong, India, Japan, China, Australia, New Zealand, Tahiti, United Kingdom, Alaska, Vermont

☆ 2024 has become the year of gambling scandals in the sports world. That could be a good thing.
▼ + stars: | 2024-06-21 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +10 min

While the expansion of legal sports betting has made gambling more accessible, it's also helped spot infractions like these. The MLB also said it was tipped off about Marcano's betting activity by a legal sports-betting operator, ESPN reported. There's little data available to show whether gambling violations like these occur more or less often in the age of legal gambling, in part because they weren't easily tracked before 2018. They could be college football players betting on the NFL, or NFL players betting on games their teams weren't playing in. As sports-betting continues to expand in more states and the industry evolves, there may be more gambling scandals to come.

Persons: —, Jontay Porter, Tucupita Marcano, Lucas Paqueta, he's, It's, Shohei Ohtani, it's, Sara Slane, Pete Rose, sportsbooks, Matt Holt, Porter, Holt, that's, Slane, They're, Jim Brown, bettors, Brown, Sportradar, they're, IC360 Organizations: Service, NBA, Toronto Raptors, Raptors, San Diego Padres, Premier League, Football Association, Business, University of Alabama, Dodgers, Sports, Major League Baseball, MLB, ESPN, IC360, Alabama baseball, Iowa State University, Leagues, North America, NFL Locations: Slane, Ohio, sportsbooks, North, Sportradar, Colorado

☆ Betting scandals have rocked sports this year. Here's why that could be a good thing.
▼ + stars: | 2024-06-21 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +10 min

While the expansion of legal sports betting has made gambling more accessible, it's also helped spot infractions like these. The MLB also said it was tipped off about Marcano's betting activity by a legal sports-betting operator, ESPN reported. "When you are operating in the dark, you have no idea what is actually happening — if refs are partaking in illegal betting or players are partaking in betting," Slane said. Many US states where sports betting is legal require gambling companies to work with a licensed independent integrity-monitoring service, like IC360 or Sportradar, to identify suspicious betting activity. They could be college football players betting on the NFL, or NFL players betting on games their teams weren't playing in.

☆ The Culture Wars Came to a California Suburb. A Leader Has Been Ousted.
▼ + stars: | 2024-06-21 | by ( Jill Cowan | ) www.nytimes.com time to read: +1 min

From the start, the three conservative board members of the Temecula Valley Unified School District made clear where they stood. On the same night in December 2022 that they were sworn in as a majority, they passed a resolution banning critical race theory from classrooms in their Southern California district. Months later, they abruptly fired the superintendent, saying they believed the district needed someone with new ideas. After that, they passed a rule requiring that parents be notified whenever a student requests to be identified as a different gender at school. The moves were applauded by conservatives, many of them Christian churchgoers who had helped to install the new board members, hoping that Temecula Valley could remain an island of traditional values in a liberal state.

Persons: Christian churchgoers Organizations: Unified School District Locations: Temecula, Southern California, San Diego

☆ Mortgage rates fall to their lowest level in almost three months
▼ + stars: | 2024-06-20 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington CNN —Mortgage rates fell this week to their lowest level since early April, taking some pressure off America’s unaffordable housing market. “These lower mortgage rates coupled with the gradually improving housing supply bodes well for the housing market.”Still, mortgage rates remain higher than anything seen in the decade before 2022, the year the Federal Reserve began to raise interest rates to combat inflation. Economists don’t expect the average mortgage rate to fall below 6% this year. Homebuilding constrained by high interest ratesWhile mortgage rates have eased recently, the US housing market overall remains hamstrung by elevated interest rates, which seem to be taking a toll on homebuilding. “Persistently high mortgage rates are keeping many prospective buyers on the sidelines,” NAHB Chairman Carl Harris said in a release.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, don’t, America’s homebuilders, “, Carl Harris, ” Skylar Olsen Organizations: Washington CNN —, “, Federal Reserve, Treasury, National Association of Home Builders Locations: ., Wells Fargo, America, San Diego , Los Angeles and New York, California, Honolulu

☆ Astronomers watch a supermassive black hole awaken in real time
▼ + stars: | 2024-06-19 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

CNN —Astronomers are witnessing a never-before-seen spectacle in the cosmos: the awakening of a supermassive black hole at the center of a distant galaxy. In late 2019, a team of astronomers took notice of an otherwise unremarkable galaxy named SDSS1335+0728, 300 million light-years away in the Virgo constellation. “If so, this would be the first time that we see the activation of a massive black hole in real time.”Sleeping celestial giantsSupermassive black holes are classified as having masses more than 100,000 times that of our sun. “In the case of SDSS1335+0728, we were able to observe the awakening of the massive black hole, (which) suddenly started to feast on gas available in its surroundings, becoming very bright.”Previous research has pointed to inactive galaxies that appeared to become active after several years, which is usually triggered by black hole activity, but the process of a black hole awakening has never been directly observed before, until now, Hernández García said. The same scenario may play out with Sagittarius A*, the supermassive black hole at the center of the Milky Way, but astronomers aren’t sure how likely it is to occur, Ricci said.

Persons: ”, Paula Sánchez Sáez, Neil Gehrels Swift, Chandra, Sánchez Sáez, Lorena Hernández García, Claudio Ricci, “, Hernández García, Ricci Organizations: CNN —, Palomar, Astrophysics, European Southern Observatory, Survey, Micron, Sky Survey, Sloan, European Southern, Southern Astrophysical Research, Keck, Millennium Institute of Astrophysics, University of Valparaíso, Diego Portales University Locations: California, Germany, European, Chile, Hawaii, —

☆ In California, Hotels and Rentals Must Reveal Fees Upfront. What Does That Mean for You?
▼ + stars: | 2024-06-19 | by ( Derek M. Norman | ) www.nytimes.com time to read: +1 min

Last May, Samir Bhavnani, a 47-year-old tech executive from San Diego, was planning a trip to Palm Springs, Calif., where he planned to propose to his girlfriend. “And $595 plus $595 doesn’t equal $2,300,” Mr. Bhavnani said. “Taxes, host fees and service fees basically doubled the price. I asked the owner what the fee breakout was, and they said it was $300 for cleaning and $300 for ‘air-conditioning.’ This is Palm Springs. On July 1, a sweeping new state law will ban hidden fees on purchases — including event tickets, hotel rooms and food delivery services — by requiring businesses to include all mandatory fees or last-minute charges in their advertised and displayed price.

Persons: Samir Bhavnani, Mr, Bhavnani Locations: San Diego, Palm Springs, Calif, Springs, California

☆ Lorenzo Somaschini: Nine-year-old Argentinian motorcycle rider dies after crash at Interlagos
▼ + stars: | 2024-06-19 | by ( George Ramsay | Aleks Klosok | ) edition.cnn.com time to read: +1 min

CNN —A nine-year-old motorcycle rider from Argentina has died after crashing during a practice session at the Interlagos Circuit in São Paulo, Brazil. Lorenzo Somaschini was participating in the first free practice session of the Jr Cup on Friday when he had a fall and was immediately treated by medics at the scene, race organizer SuperBike Brasil said in a statement. “The whole SuperBike Brasil team is saddened by the event and expresses its sincere condolences to all of Lorenzo’s family and friends,” said SuperBike Brasil. Somaschini, known as “Lolo,” rode under the number 99 as a tribute to his idol, Spain’s three-time MotoGP champion Jorge Lorenzo. “My heart breaks because also I was his idol and he wore my number,” Lorenzo wrote on Instagram Stories.

Persons: Lorenzo Somaschini, Albert, ”, Somaschini, Diego Pierluigi, “, Lolo, Pierluigi, Jorge Lorenzo, ” Lorenzo, ‘ Lolo, ’ Organizations: CNN, Interlagos, Brasil, Geral de, Albert Einstein, Reuters Locations: Argentina, São Paulo, Brazil, Geral de Pedreira, Pinheirinho

☆ Meet the hobbyists who collect barf bags
▼ + stars: | 2024-06-19 | by ( Aj Willingham | ) edition.cnn.com time to read: +12 min

CNN —“I collect barf bags” is not a complete sentence. “I collect barf bags because they’re pretty neat.”“I collect barf bags, and I’m not the only one.”Of the eight billion people on the planet, the number of serious barf bag collectors is just north of 100, according to notable members of their ranks. The ineffable whyWhen Steve Silberburg started collecting barf bags around 1981, he thought he would be the only one. People were indeed amused, but it had an unintended side effect: Classmates started bringing Silberburg other barf bags to add to his collection. “We don’t want anybody to get ahead of us, you know.”“It makes a good litmus test, telling people you collect barf bags,” Silberburg says.

Persons: CNN —, I’m, Dramamine —, Steve Silberburg, ”, ” Silberburg, Silberburg, Eli Cox, “ It’s, that’s, Cox, “, Bob Grove, Bruce Kelly, Grove, Bob Grove's tastefully, Dramamine Bruce Kelly, Grove’s, “ I’ve, ” Kelly, Kelly, somebody’s, it’s, Bruce Kelly's, Gilmore Schjeldahl, Louis, ” Bruce Kelly, ’ Organizations: CNN, Maine, Finn Aviation, TWA Locations: “, New York City, Boston, San Francisco, Austin , Texas, San Diego, Tijuana, Burma, Myanmar, American, North Dakotan, Finnish, Omaha, St, England, Japan, Europe

☆ There are 4 cities where housing is now 'impossibly unaffordable' — and they're all in the same state
▼ + stars: | 2024-06-18 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Four of the world's 11 "impossibly unaffordable" housing markets are in California, a study found. The study blamed land use policies for constraining housing supply and driving up prices. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In fact, four of the 11 most unaffordable housing markets in the English-speaking world are in California — and seven are in the US and Canada, a new study has found. San Jose, Los Angeles, San Francisco, and San Diego are all "impossibly unaffordable," according to the 2024 Demographia International Housing Affordability report.

Persons: — Organizations: Service, Business Locations: California, Canada, California —, San Jose , Los Angeles, San Francisco, San Diego

☆ Housing is now 'impossibly unaffordable' in these 4 cities — and they're all in the same state
▼ + stars: | 2024-06-18 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Persons: — Organizations: Service, Business Locations: California, Canada, California —, San Jose , Los Angeles, San Francisco, San Diego

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