1687779387 The Rebirth of Martine St Clair Le Journal de Quebec

The Rebirth of Martine St Clair

She is currently shooting them reunion throughout Quebec, which notably allows him to recover his songs, but at the same time prepares a multidimensional project that will unite his paintings with his songs.

“I had the idea of ​​combining both and showing how the process of composing, writing and singing works and how all of this can be connected.” [avec la peinture]said Martine St-Clair, who has been involved with abstract art for over 20 years.

“When I shared my idea with the composers I will be collaborating with, my approach was to create a song and a table of toleration in alloy in the same space-time. I cannot receive a song and then paint it. I want to receive music and design the painting and lyrics at the same time,” she explained in an interview with QMI Agency.

Tot’Aime is also part of this first song version to be registered, the singer added. This first piece, written by Lucien Francoeur and composed by Gilbert Montagné during the pandemic, is also very impressive for Martine St-Clair. It addresses both the light, rebirth and finding your mission in life, she described.

The song also tells of the crop color that flooded her room at her uncle’s house in Fortierville, in the Center-du-Québec region, where she spent entire summers playing in the fields as a child. A color that is obviously very striking for the artist, who is always looking for light, colors and harmonies that perfectly reflect her thoughts when creating.

“I still vividly remember waking up early at my uncles’ house on the weekend. It was this light reflected across the wheat fields. It was like magic to me,” she recalls.

“That’s what I love about abstract art. That’s because you’re immersed in this topic, like a conversation! The music is also a conversation I have with a text, in relation to my own speakers,” she argued.

Martine’s “Reunion”

After a career spanning more than 40 years, Martine St-Clair, who no longer has enough hands to count all her successes, keeps bringing certain songs back from her catalogue.

“Superman’s Son” is among the songs she has not sung in decades, despite continued demand from her audience.

“It’s hard to sing because it’s so emotional. I didn’t feel able to do that before,” she admitted, stressing that she’s in the process of winning it back for this tour that started last winter.

There are also those titles that are among his essentials “about love in the state of naivety” that he can’t ignore, even if they don’t necessarily stick to his skin anymore. “It is certain that from afar I was wondering how I would be doing. These are songs I sang when I was 22, 23, 24…” she said, hinting that this time she interpreted them without taking herself too seriously, “as if it were a person which this girl looked at and laughed “a little”.

At the age of 60, Martine St-Clair is currently experiencing one of her most beautiful tours. “It’s huge what I’m going through. “It’s been a long time since I’ve done a solo tour and it’s like I’ve found myself, as an artist, as a singer,” she said, adding that she even sees her audiences getting younger.

Knowing she’ll be presenting her new Painting Songs project next year, she’s also started testing her concept on the big screen and the response has been extraordinary, said the artist, who also says he’s been since painted differently. in musicality.

AT The beautiful tour This monday

Martine St-Clair will be speaking a bit more about her projects this Monday on TVA’s La Belle Tour, where she will perform alongside Debbie Lynch-White and Steve Veilleux.

The Rebirth of Martine St Clair

Martine St-Clair, Steve Veilleux, Laurence Lebel and Debbie Lynch-White interview La belle tour host Guy Jodoin. Photo Thonycool

More information about the tour dates can be found here.

And to discover his paintings, click here.

The Rebirth of Martine St Clair Read More »

1687786127 He quits his job at the bank and invests more

He quits his job at the bank and invests more than $6 million in the family’s ice cream business

Jean-François Beetz was on a good career path at the bank, with a prestigious position and a comfortable salary, when he decided to give up everything to join the family business and sell ice cream.

It took 15 years for Paysanne Gelato, where he had already spent summers and weekends, to become Qwelli.

“When I wasn’t with family, I felt like part of me was in the wrong place. It has been a blessing to return to the family business and it is a privilege to still work with my parents every day,” says the man who now runs this small, frozen kingdom with its 10 branches, factory and soon franchises .

“What Jean-François sees always happens!” exclaims her sister Caroline, CEO of Qwelli. She still remembers how her brother envisioned the factory and the trucks to deliver the Italian summer fun; it’s a reality now.

GEN-CAROLINE AND JEAN-FRANÇOIS BEETZ

Qwelli offers around thirty types of ice cream. Photo Phil Bernard

Jean-François and Caroline were still studying when their parents bought their small dairy 35 years ago. It was a part-time job for her long before it became a calling.

The perfect recipe

Nevertheless, Jean-François was involved with the family business to which he belonged during his MBA studies. And when he realized that his sister and father had developed a sophisticated and differentiated product, he saw the company’s growth potential. Therefore, he felt a deep desire to embark on the adventure full-time.

“Gelato is a complicated product, but it didn’t scare us. It was me who started making recipes with my father in 2005 and we managed to create something special,” Caroline recalls.

Gelato is a denser ice cream that is served less cold and has a more intense and long-lasting flavor than regular ice cream. It is made from milk and contains less air. Since you can’t produce large quantities of it at once, the idea of ​​a factory to supply several counters was more than daring.

“For years we were told that it was impossible to do what we are doing today,” recalls Jean-François, who has no doubt that we create value through complexity.

There is a risk of losing everything

A complex recipe, don’t worry about the Beetz. But dealing with the complications when the pandemic hit just two months after the factory opened was another story. The Beetzes had just invested $6.5 million when everything ground to a halt. It could have ended disastrously as the closure lasted months.

GEN-CAROLINE AND JEAN-FRANÇOIS BEETZ

Qwelli now has its own ice cream factory. The company sold more than 250,000 liters in 2022. Photo courtesy of Qwelli

But instead of fear, they had confidence. And maybe they showed a touch of weirdness too by deciding to change the brand’s name while redesigning their stores.

“We come out of it stronger. We’ve been through the unthinkable and that gives us confidence. What could be worse? It was a real test of loyalty and showed us that our team is strong and loyal. It united us,” says Jean-François.

Before Qwelli offered franchises, it spent a lot of time testing its concept and recipes in its own stores. Now that the machine is installed, the company is ready for growth. How far can it go? Caroline doesn’t dare to think about it too much, because the vision of greatness, Jean-François, she is very good at realizing! But for now, he has his sights set on the Quebec market, where he believes Qwelli should be the benchmark. Then who knows?

Qwelli

  • Headquarters: Boisbriand
  • Foundation: 1987
  • Founder: Denis Beetz
  • Number of employees: 150
  • Profile of: Jean-François and Caroline Beetz
  • Age: 46 and 50
  • Positions: President and CEO
  • Education: Masters in Business Administration, HEC Montreal

Les eaux seront plus agitees pour le Canadien lan prochain

He quits his job at the bank and invests more than $6 million in the family’s ice cream business Read More »

Central American Games 2023 LIVE Watch HERE for the event

Central American Games 2023 LIVE: Watch HERE for the event, schedules and medal table TODAY, June 26th

Still don’t know where to watch Central American and Caribbean Games 2023 LIVE? The eventmultisportThe most renowned event in the region brings together the best athletes on the continent from a total of 37 countries. During those two weeks, dozens ofathleteYou will fight for the most medals and even more for the gold medal. Which channels will broadcast the competition in San Salvador? Check thetime plansof the various disciplines and how thatMedalleroUntil now.

YOU CAN SEE: Panama vs. Costa Rica LIVE: When and where to watch the Concacaf Gold Cup match?

where to see LIVE the events of the 2023 Central American Games TODAY, June 26th?

Most Central American Games 2023 events will be broadcast LIVE by the following providerschannelsjPlatforms:

  • Claro Sports
  • TV picture
  • TV
  • Centro Caribbean Sports Channel (youtube)
  • Tigo Sports El Salvador.

Schedule of games in Central America and the Caribbean for today, June 26th

Check theofficial opening timesfor the competitions on June 26th in Central American and Caribbean Games 2023.

baseball

  • June 26: Matches from 9:30 a.m. to 8:00 p.m.*

rocking basket

  • 26 June: Matches from 12:00 p.m. to 7:30 p.m.*

handball

  • June 26: Matches from 1:00 p.m. to 7:00 p.m.*

table tennis

  • June 26: Games from 9:30 a.m. to 7:30 p.m. (medal day)*

boxing

  • June 26: Battles from 14:00 to 23:00*

weightlifting

  • 26 June: competitions from 9:00 a.m. to 6:00 p.m. (medal day)*

Artistic gymnastics

  • 26 June: competitions from 10:35 a.m. to 2:35 p.m. (medal day)*

Bathe:

  • 26 June: competitions from 9:00 a.m. to 6:45 p.m. (medal day)*

Beach volleyball

  • June 26: Matches from 8:00 a.m. to 7:00 p.m.*

* El Salvador Time.

Central American and Caribbean Games 2023: How is the medal table developing?

Below we leave you the table of medals up to the last day of activities and events of the Central American Games 2023.

Central American Games 2023 LIVE Watch HERE for the event2023 Central American Games medal table today, June 26. Photo: San Salvador 2023

Central American Games 2023 LIVE: Watch HERE for the event, schedules and medal table TODAY, June 26th Read More »

Titanic historian whose family survived the disaster calls for an

Titanic historian, whose family survived the disaster, calls for an end to tourist travel

A Titanic historian whose great-grandmother and great-uncle survived the disaster more than 100 years ago has called for an end to “shabby and disgusting” trips to visit the doomed liner.

Shelley Binder condemned deep-sea tourism trips to Titanic’s ‘burial site’ after five men were killed instantly last week when an OceanGate submersible suffered a ‘catastrophic implosion’ en route to the 1912 shipwreck.

The victims were British billionaire Hamish Harding, OceanGate CEO Stockton Rush, French naval veteran PH Nargeolet, and wealthy Pakistani businessman Shahzada Dawood and his son Suleman.

Ms. Binder, whose great-grandmother Leah Aks and great-uncle F. Phillip Aks were among the approximately 700 survivors of the Titanic disaster, is certain her relatives would not have approved of the $250,000 per capita trip to the shipwreck.

“It’s my gut feeling [that my great-grandmother] wouldn’t be for it. “She died in 1967, so she probably wouldn’t be able to comprehend such an idea,” she told the US Sun.

Shelley Binder (pictured), whose great-grandmother and great-uncle survived the Titanic disaster more than 100 years ago, has called for an end to

Shelley Binder (pictured), whose great-grandmother and great-uncle survived the Titanic disaster more than 100 years ago, has called for an end to “shabby and disgusting” trips to the doomed liner

Mrs. Binder's great-grandmother Leah Aks (right) and her great-uncle F. Phillip Aks (centre) survived the Titanic disaster

Mrs. Binder’s great-grandmother Leah Aks (right) and her great-uncle F. Phillip Aks (centre) survived the Titanic disaster

Ms Binder (centre) wants to end tourist trips to the Titanic after five men were killed instantly en route to the 1912 shipwreck

Ms Binder (centre) wants to end tourist trips to the Titanic after five men were killed instantly en route to the 1912 shipwreck

This is the first full-size digital scan of the Titanic shipwreck.  About 1,500 people died in the 1912 disaster

This is the first full-size digital scan of the Titanic shipwreck. About 1,500 people died in the 1912 disaster

“But would she approve it? No. Her experience on the Titanic influenced her immensely for the rest of her life. She was completely devastated by this [and] tortured by it.

“And I know my great-uncle wasn’t for it. When they found the Titanic in 1985, he said to me, “I wish they would just leave the ship alone.”

Her great-uncle was just 10 months old when he was separated from his mother in the early hours of April 15 when the ocean liner struck an iceberg and began to sink.

Somehow, the two ended up on the same lifeboat – the Carpathia – and were reunited in the ship’s hospital wing.

Ms Binder added that those who lost loved ones on the Titanic view the wreck as a mass burial site rather than a tourist attraction.

She said it was a “miracle” that she was here today because both of her relatives survived, but that the bodies of some families had never been recovered and it was their “final resting place”.

“For those families … they find it cheesy and disgusting to go there,” she added.

Ms Binder described the disaster as a “terrible” incident that left men, women and children dead “in the most painful way”. She added that one could see the wreck without having to physically venture 12,500 feet into the Atlantic.

The retired professor continued, “Did you really see much looking out of those windows?” Why not just dig a giant pit in your backyard, burn $250,000 and then watch the 8K footage of the wreck, that you recently uploaded online?

1687785869 805 Titanic historian whose family survived the disaster calls for an

The Titan submersible, pictured here, imploded last week with five men on board

Shahzada Dawood and his son Suleman

19-year-old college student Suleman (left) and his father Shahzada Dawood (right) were two of the five victims who died instantly when the OceanGate submersible suffered a “catastrophic implosion.”

British billionaire adventurer Hamish Harding (pictured) was killed in the devastating implosion

British billionaire adventurer Hamish Harding (pictured) died in the devastating implosion

In the submarine was French Navy veteran PH Nargeolet Stockton Rush, CEO of OceanGate, was also on board

French Navy veteran PH Nargeolet (left) was also on the submarine along with Stockton Rush (right), CEO of OceanGate

Other relatives of Titanic’s passengers also agree that they should be left alone. Helen Richardson, 40, of Norfolk, is the great-great-granddaughter of Christopher Arthur Shulver, a firefighter on the Titanic who survived the sinking before being killed in an explosion on the RMS Adriatic, another White Star liner, in 1922.

Speaking to Web last week, Ms Richardson said: “It should be left alone.” It’s a place where all these poor people lost their lives and even for those who survived it’s a tragic place .”

Meanwhile, Meme Bell, whose relative Sam Williams was a stoker and died on the Titanic, told this newspaper: ‘It should be left alone now… It’s not a tourist attraction, it’s a cemetery… Let them rest in peace.’

Born in Southampton in 1884, Mr Williams was unmarried and left a pregnant girlfriend who named her son Sam in his honour.

Marilyn Furze agreed: “This is the resting place of my great-uncle Alfred John Harding of Southampton.” I believe it should be left alone.’

Mr Harding, who was a ship’s steward, was the son of Alfred John Harding and Mabel Alice Stainer – both of Hampshire origin.

And Ellie Bryant told Web: “My husband’s great-grandfather rests with the ship at the bottom of the sea.” First-class passenger John Bradley Cummings. Leave him in peace.’

Born in Boston in 1872, Mr Cummings was married to Florence Briggs Thayer – who was also on the Titanic when it began to sink. They were both among the group of first class passengers being taken to Lifeboat 4. Mr Cummings told his wife he would follow in a later boat but did not survive.

The US Coast Guard is investigating the cause of the underwater implosion of the submersible Titan, which disappeared last Sunday, and has not ruled out human remains being found – while suggesting the investigation could lead to criminal charges.

Captain Jason Neubauer, who is leading the U.S. Coast Guard investigation into the ship’s implosion, said they are in contact with the families of the five people killed and that investigators would “take every precaution on the spot in case we come across a human.” Remains.’

The US Coast Guard said last Thursday that all five people on board the submersible died after the ship suffered a “catastrophic implosion.”

Rear Admiral John Mauger of the First Coast Guard District confirmed that the Coast Guard had initiated a Marine Board of Investigation (MBI) into the “loss of the submersible and the five people on board.”

He added: “The MBI is also responsible for accountability related to the incident and can make recommendations to the relevant authorities to impose civil or criminal sanctions if necessary.”

After the devastating incident, OceanGate CEO Stockton Rush came under criticism for seeking wealthy clients to support his expedition as he struggled to turn a profit.

Insiders say Rush, who died on board, used his powers of persuasion to prevent clients from being turned away over safety concerns by respected figures in the exploration community, reports The Times.

Patrick Lahey, president of Triton submarines, told the newspaper, “He was able to convince even someone who knew and understood the risks… it was really quite predatory.”

A self-proclaimed innovator, Rush has never sought certification or classification for his ship. He insisted regulators couldn’t keep up with his technology.

Around 1,500 passengers died when the Titanic (pictured) collided with an iceberg and sank in the Atlantic

Around 1,500 passengers died when the Titanic (pictured) collided with an iceberg and sank in the Atlantic

Its combination of a carbon fiber cylindrical fuselage and titanium end caps was considered a dangerous design flaw by industry experts and has been suggested as the probable cause of the Titan’s implosion.

Mr Lahey, who has been in the field for 43 years and whose Triton submarines have been featured on the BBC’s Blue Planet, added: “At the time this monstrosity was being built I was building the most capable submarines of our time .”

Dozens of industry leaders and researchers also warned Rush in 2018 that the company’s “experimental” approach could prove “disastrous.”

This year he fought back, saying he was “sick of industry players trying to stop innovation with a security argument.” He seemed annoyed by the “obscenely safe” regulations, which he saw as an impediment to development.

Tragically, it now appears that failure to heed those concerns – including warnings about Titan’s “flawed” carbon fiber hull – has proved fatal.

Titanic historian, whose family survived the disaster, calls for an end to tourist travel Read More »

The Money Behind Yevgeny Prigozhin and the Wagner Group

The Money Behind Yevgeny Prigozhin and the Wagner Group – The New York Times

After a turbulent weekend in Russia, global markets are relatively calm on Monday morning. And there was no news from either Russian President Vladimir Putin or his rebellious military chief Yevgeny Prigozhin after Mr Prigozhin’s aborted march on Moscow.

But experts believe the Kremlin will press the man who has most challenged Putin’s authority in his 23 years in power – and that he will seek to limit the tools Prigozhin uses to establish a multinational, built a multi-million dollar company to fund its operations.

The incident exposed deep cracks in the Kremlin’s war machine. The instability pushed the ruble lower and is likely to roil commodity markets for months. European natural gas prices have soared this morning and Brent crude is rising. (Trading in European equities and US futures was mixed.)

“The risk of further unrest in Russia must now be factored into our oil analysis for the second half of the year,” Helima Croft, head of global commodities strategy at RBC Capital Markets, wrote in a note to investors this morning. Rising commodity prices could add further pressure on central banks, which are already struggling to contain inflation.

Who is Mr. Prigozhin? Europe and the United States have been trying to shut down Prigozhin’s sprawling business operations for years. Mr. Prigozhin, who was on the FBI’s most wanted list, rose quickly in Putin’s Russia – from being the president’s favorite caterer to winning big contracts that funded the Wagner Group, his private mercenary company. Founded in 2014, Wagner wages wars and trains militias in politically troubled countries. It is also Putin’s force of choice when military campaigns go awry, for example in Syria and Ukraine. And Wagner’s internet troll farms target Western democracies and elections, including the 2016 US presidential campaign.

Wagner is a “brutal” transnational criminal organization, according to the Ministry of Finance. Evro Polis, a Prigozhin-affiliated company that received energy concessions in Syria in exchange for military support. In Sudan and the Central African Republic, Wagner has become involved in mining operations to fund his operations.

To avoid sanctions and to cover up his finances, Wagner often demands payment in gold, diamonds, and oil and gas shipments. The Financial Times estimated that revenue from Wagner’s natural resource investments was approximately $250 million between 2018 and 2021.

Mr. Prigozhin also has access to a global network of corporate attorneys according to a separate FT report, to ward off Western authorities. The Treasury has identified business partners supporting Wagner’s fight in Ukraine: two Russian firms – Terra Tech and AO BARL – and Chinese company Spacety, which supplies satellite imagery to the group.

The uprising has weakened Mr Putin, but what will he do next? Bill Browder, a former investor in Russia who has become one of Putin’s biggest critics, told DealBook that the president will try to restore his authority by any means necessary. “If he can’t show that he’s so brutal that everyone has to deal with him, that’s the beginning of the end. Rebuilding will require a massive crackdown,” he said.

Alexander Gabuev, director of the Carnegie Russia Eurasia Center, told DealBook that Mr Putin may not be finished yet. “This could be further evidence of dysfunction, but he’s very good at finding a way to adapt and survive. His greatest talent is staying in power.”

China’s currency hits a seven-month low against the dollar. The renminbi is under continued pressure from China’s slowing economy, including slowing consumer spending. A cheaper renminbi will help Chinese exporters by making their goods cheaper abroad, but domestic companies are likely to suffer.

Britain plans to curb ‘greed inflation’. The country’s finance minister, Jeremy Hunt, is set to meet with regulators this week to discuss ways to stop companies from raising prices too much. The move signals a change on the part of the government, which has previously taken a soft stance on reported profiteering as the UK suffers from stubbornly high inflation.

Wall Street continues to swing the axe. According to Bloomberg, Goldman Sachs is in the process of firing 125 chief executives worldwide, while JPMorgan Chase is cutting 40 investment banking jobs in North America. The moves come as banks seek to cut costs amid an ongoing slump in business processing.

SpaceX is reportedly targeting a valuation of $150 billion. According to Bloomberg, Elon Musk’s rocket company is planning a new round of employee stock sales that would boost its value from $137 billion in January. This comes amid SpaceX’s continued success in launching rockets and expanding its satellite-based internet service, Starlink.

As investment in sports teams surges, a Hollywood motorsport mash-up was announced on Monday: a group that includes actor Ryan Reynolds is taking a 24 percent stake in Renault’s Alpine Formula One team. It’s the latest bet on sports team ownership and the lucrative sponsorship and media rights deals it can generate.

The deal: RedBird Capital Partners (which owns interests in Fenway Sports Group and AC Milan), Otro Capital and Mr. Reynolds’ Maximum Effort Investments are leading a €200 million ($218 million) investment in Alpine, valued at $900 million through. Actors Michael B. Jordan and Rob McElhenney are participating in the investment.

It’s the first deal for Otro Capital, which spun off from RedBird to invest in sports teams and will be led by Alec Scheiner, who previously worked for the NFL’s Dallas Cowboys and then ran operations for the Cleveland Browns. Mr. Scheiner will join Alpine’s Board of Directors.

It’s a bet on continued US interest in Formula 1. The competition has grown in popularity in the United States since its sale to Liberty Media in 2017. That’s thanks in large part to the Netflix series Drive to Survive, which has helped propel the sport’s viewership and overall fan base to new heights.

Renault hopes to continue expanding the Alpine brand. The team, which finished fourth in Formula 1 last year, is a key example of the French automaker’s EV performance as the company aims to see EVs account for more than half of its sales by 2030.

Buyers have had a lot of success profiting from sports teams:

  • RedBird acquired a 15 per cent stake in Rajasthan Royals, the Indian Premier League cricket team, in 2021 – and has seen the value of its investment soar after the cricket league sold its broadcasting rights at a record price.

  • And Mr Reynolds and Mr McElhenney bought Wrexham AFC, the junior Welsh football club, in 2020 and turned them into a media phenomenon, thanks in part to the hit reality TV series Welcome to Wrexham.

“They looked at us like, ‘Maybe you can help us in the industries that you’ve been successful in in the US — ticketing, hospitality, sponsorship, licensing, merchandising, content,'” Mr. Scheiner told DealBook.

As global deals falter, Big Law increasingly seeks to capitalize on Saudi Arabia’s oil-fueled investment spate to boost their fortunes. This now includes big firms like Kirkland & Ellis, which are considering opening offices in the kingdom, joining the likes of Latham & Watkins and Greenberg Traurig, reports the Financial Times.

However, this could land some companies in an awkward internal conflict:

The incursion of major law firms into the kingdom creates a potential conflict between the liberal values ​​espoused by senior staff in the US and elsewhere and Saudi Arabia’s human rights record, where dissidents remain jailed and homosexuality remains a capital crime. …

American law firms are increasingly facing political pressure to drop certain clients. Last year, Kirkland & Ellis parted ways with two star lawyers representing the gun lobby, the National Rifle Association, following widespread outrage over a Texas school shooting. Other companies have refused to work for anti-abortion groups or opioid manufacturers, while former US President Donald Trump and his associates have been rejected by numerous elite organizations.

Some top lawyers defended their firms’ growing ties with Saudi Arabia: “We do not independently assess the local customs, religious beliefs and value systems of each jurisdiction and culture that we enter,” Richard Rosenbaum, Greenberg’s chief executive officer, told Traurig the FT. “It’s not our job to judge that way.”

— Larry Fink, the CEO of BlackRock. Speaking at the Aspen Ideas Festival, Fink — a longtime proponent of incorporating environmental and social concerns into investment decisions — said the common term for this strategy is too politicized. (He reiterated that he has not abandoned the principles of ESG investing.)

Inflation data, a major central bank meeting and profits from large consumer facing companies will be in the spotlight. Here’s what to see.

Tuesday: The Conference Board will release its latest Consumer Confidence Report. Walgreen Boots reports earnings for the fiscal third quarter.

Wednesday: The European Central Bank concludes its annual forum in Sintra, Portugal. Central bank leaders, including the Fed’s Jay Powell, the ECB’s Christine Lagarde and the Bank of Japan’s Kazuo Ueda, will discuss monetary policy there. The Fed is set to release the results of its annual bank stress tests, the first major report on lenders since the Silicon Valley bank collapse.

Microsoft CEO Satya Nadella and his Activision Blizzard counterpart Bobby Kotick are expected to testify on the final day of a hearing related to the FTC’s efforts to block its $70 billion deal.

Thursday: Nike and H&M deliver quarterly results.

Friday: Japan and the Eurozone will release their latest CPI reports. The Department of Commerce will also release its latest report on personal consumption spending.

Offers

  • Western banks fear rising tensions between Washington and Beijing could prevent them from participating in agrichemicals giant Syngenta’s Shanghai IPO. (FT)

  • IBM agreed to buy Apptio, which makes information technology management software, for $4.6 billion. (IBM)

  • Junk bond sales are increasing as issuers offer more protection to potential buyers. (WSJ)

politics

  • The Gerson Lehrman Group, which connects clients to a network of industry experts, is reportedly laying off employees in China as Beijing cracks down on Western consulting firms operating there. (FT)

  • Centrist political group No Labels is pushing for Senator Joe Manchin, a Democrat from West Virginia, to run for president in a third-party bid — but won’t say who is funding the effort. (politico)

The best of the rest

We appreciate your feedback! Please email your thoughts and suggestions to [email protected].

The Money Behind Yevgeny Prigozhin and the Wagner Group – The New York Times Read More »

What is happening in the housing market

What is happening in the housing market?

Gianni Martinez, 31, thought buying an apartment would be pretty easy.

Thanks to the Federal Reserve’s efforts to curb inflation, mortgage rates are currently around 7 percent – the highest since 2007. Central bankers have raised their official interest rate to around 5 percent over the past 15 months, which translates into higher borrowing costs reflected throughout the economy.

Mr. Martinez, a technician, expected this to cool down the Miami real estate market. Instead, he finds himself in fierce competition for one- to two-bedroom apartments near the sea. He’s made seven or eight offers and is willing to pay 25 percent, but he keeps losing, often because people pay cash instead of taking out an expensive mortgage.

“With interest rates at 7 percent, I didn’t think it would be that competitive — but for cash buyers, that doesn’t matter,” Martinez said, noting that he’s competing with foreign bidders and other young people who show up with their parents in tow Opening homes, suggesting that mom or dad might help foot the bill.

“If there’s an offer with the correct price, that’s amazing,” he said.

The Fed’s rate hikes are aimed at slowing the US economy, including by containing the housing market, in an attempt to control inflation. These steps initially had a rapid impact and led to a weakening of interest-rate-sensitive parts of the economy: the real estate markets across the United States declined significantly last year. But this cooling seems to be working.

Home prices fell nationwide in late 2022, but in recent months they’ve started to rebound, a resurgence as the market has proved particularly strong in southern cities like Miami, Tampa and Charlotte. A new dataset, due to be released on Tuesday, will show whether this trend will continue. Last week’s figures showed that national housing starts rose better-than-expected in May, posting the sharpest rise since 2016, as building applications also picked up.

Residential construction appears to be gaining momentum again. Rising house prices will not support official inflation figures – these are based on rental costs and not the cost of buying housing. But the recovery is a sign of how difficult it is for the Fed to rein in economic momentum when the labor market remains strong and consumer balance sheets are generally healthier than before the pandemic.

“It’s another data point: Things aren’t cooling as much as they thought,” said Kathy Bostjancic, chief economist at Nationwide Mutual. In fact, new housing construction is “telling us something about where the economy is going, which suggests things may be picking up.”

That could have policy implications: Fed officials believe the economy will have to spend some time growing at a rate below its full potential for inflation to cool off fully. In a weak economy, consumers don’t want to buy as much, making it difficult for businesses to charge as much.

The question is whether the economy can slow down enough when the housing market stabilizes or even recovers, causing homebuilders to become more optimistic, builders to hire workers and homeowners to feel the mental boost that comes with rising home equity.

So far, at least the Fed chair seemed unconcerned.

“The real estate sector has flattened nationwide and may have risen a little, but at a much lower level than before,” Fed Chair Jerome H. Powell told lawmakers last week, adding a day later, “You me actually saw that it has now bottomed out.”

Higher interest rates have helped significantly slow existing home sales, he says, although two broad secular trends are fueling demand for new homes.

Millennials – America’s largest generation – are in their late 20s and early 30s, the prime years to move out on your own and attempt home-buying.

And the shift to remote work during the pandemic appears to have spurred people who might otherwise have stayed with roommates or parents to live alone, according to a recent study co-authored by Adam Ozimek, chief economist at the Economic Innovation Group .

“Remote working means working from home for a lot of people,” Mr. Ozimek said. “It really adds value to the space.”

The available housing supply is now scarce. This is partly due to the Fed. Many people refinanced their mortgages when interest rates were bottoming in 2020 and 2021, and now they are reluctant to sell and lose those cheap mortgages.

“The most surprising thing about this real estate market is how the rise in interest rates has affected supply and demand pretty much equally,” said Daryl Fairweather, chief economist at Redfin. The drop in demand is likely to have been a little more severe, she said, but builders have benefited from a “significant lack of supply”.

As young people continue to bid on homes and supplies become scarce, prices and construction are making a surprise comeback.

“Demand stayed better there than we expected for this first-time buyer,” said Michael Fratantoni, chief economist at the Mortgage Bankers Association.

Ms Bostjancic said the latest housing data is likely to push the Fed towards higher interest rates. Officials suspended their rate hikes in June after 10 straight hikes, but have hinted they could raise them twice more in 2023, including at their meeting next month.

The glimmer of hope for the Fed is that housing prices will not have a direct impact on inflation. America’s pricing systems use rents to calculate housing costs because they’re trying to capture the cost of consumption. Buying a home is partly a financial investment.

Rent growth has been stagnant for months – slowly feeding into official inflation data as tenants renew their leases.

“Rental growth is taking a nice, deep breath,” said Igor Popov, chief economist at Apartment List. “Right now it doesn’t feel like there’s much new Heat.”

Still, at least one Fed official fears that the housing market’s rebound may limit the extent of this slowdown. As home prices rise, some investors and landlords may decide to either charge more or switch from renting to buying and selling homes — limiting the rental supply.

“A recovery in the housing market raises the question of how sustainable these lower rent increases will be,” Christopher Waller, a Fed governor, said in a speech last month.

He said the rebound “even with significantly higher mortgage rates” raises questions “whether the benefits from slowing rent increases will last as long as we expected.”

What is happening in the housing market? Read More »

Migos reunite at BET Awards to pay tribute to Takeoff

Migos reunite at BET Awards to pay tribute to Takeoff – TMZ

Migos Reunion Quavo and Offset Honor Takeoff…with Bet Awards Performance

6/26/2023 5:06 am PT

The Migos reunited at the 2023 BET Awards on Sunday night…but the trio were now a duo and they were honoring their late bandmate, Lift upwith an emotional performance that made the audience collapse.

Quavo And offset surprised everyone when they took the stage at the Microsoft Theater in LA an hour into the event to pay tribute to Takeoff, which you know it was fatally shot last November at a bowling alley. the alleged killer, Patrick Xavier Clarkwas indicted last month for Takeoff’s murder.

Clad in black leather, the two Migos got started by intoning “Hotel Lobby,” a song produced by Quavo and Takeoff, as the crowd went wild.

Special effects pushed the show to the limit as a spaceship appeared on a large screen, eventually taking off as flames erupted from the stage. Then a huge image of Takeoff appeared on the screen behind Quavo and Offset as they sang and danced.

The pair then released Migos’ biggest hit, “Bad and Boujee,” which shot to #1 on the Billboard charts and was nominated for Best Rap Performance at the 2018 Grammys.

In every musical sense, it was a memorable moment and the first time Quavo and Offset had shared the stage since Takeoff’s death.

TMZ.com

The question is… will Quavo and Offset carry on the Migos torch as a duo?

Migos reunite at BET Awards to pay tribute to Takeoff – TMZ Read More »

Threatened with death for speaking out on global warming A

Threatened with death for speaking out on global warming: A weather presenter resigns

In the United States, some climate skeptics are particularly virulent. On Wednesday, June 21, 2023, Chris Gloninger, the chief meteorologist at KCCI, an American television station based in Iowa, announced that he was leaving his post to pursue a career in science. The 38-year-old says he received a death threat last year for mentioning global warming in his weather reports, the Huffington Post reports.

A “conspiracy theory”

For example, in June 2022, when the US was in the midst of a heat wave, Chris Gloninger recalled the link between these high temperatures and climate change. Information that was obviously not appreciated by some viewers. Beyond the criticism, the moderator was threatened with death. “What is your home address? We Iowa Conservators want to give you a welcome you will never forget.”he received by email.

According to the New York Times, the wording of the message allegedly refers to an attempted murder of a Supreme Court Justice. Therefore, he was classified by the police as an imminent threat. Investigations quickly identified the sender of the email: a resident of Lenox, Iowa, who claimed the weatherman peddled a “conspiracy theory” in his newsletters. He was fined $180 for third-degree harassment.

“I do not give up”

Despite this conviction, Chris Gloninger says he is deeply scarred by these threats. This has recently led to a career change. “Following a death threat last year over my climate protection insurance and the resulting post-traumatic stress disorder and family health issues, I decided to begin this new adventure now.”he announced in his tweet.

He worked as a meteorologist for 18 years. The now “ex” moderator will work for a company that studies this meteorological phenomenon. “I do not give up”he told the Washington Post.

Continue reading…

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