Billionaire Buys Superyacht Maker in Bet That Rich Keep Spending
Tumultuous markets and economic uncertainty haven't dimmed enthusiasm for the most extravagant of pricey playthings: the superyacht.
In the latest example of the robust market for the massive, luxurious ships, Heesen Yachts, a superyacht builder formerly owned by a Russian oligarch, was acquired recently by Dutch packaging billionaire Laurens Last.
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San Francisco Chronicle
39 minutes ago
- San Francisco Chronicle
Putin is preparing for more war, US senators warn, urging swift sanctions and global action
PARIS (AP) — Russian President Vladimir Putin is stalling at the peace table while preparing a new military offensive in Ukraine, two senior U.S. senators warned Sunday, arguing that the next two weeks could shape the future of a war that has already smashed cities, displaced millions and redrawn Europe's security map. Republican Sen. Lindsey Graham and Democratic Sen. Richard Blumenthal spoke to The Associated Press in Paris after meeting President Volodymyr Zelenskyy and touring neighborhoods shattered by what they called the worst Russian bombardments since the full-scale invasion began. In Paris for talks with French President Emmanuel Macron — who they say is '100% aligned' with them on the war — the senators warned the window to prevent a renewed assault is closing. A sweeping U.S. sanctions bill could be the West's last chance to choke off the Kremlin's war economy, they said. "What I learned on this trip was he's preparing for more war,' Graham said of Putin. Blumenthal called the sanctions proposed in legislation 'bone-crushing' and said it would place Russia's economy 'on a trade island.' 'It is crunch time for Putin and for the world because Russia is mounting a new offensive,' he said. At the heart of their push is a bipartisan sanctions bill, backed by nearly the entire U.S. Senate but still facing uncertain odds in Washington. It would impose 500% tariffs on countries that continue buying Russian oil, gas, uranium and other exports — targeting nations like China and India that account for roughly 70% of Russia's energy trade and bankroll much of its war effort. Graham called it 'the most draconian bill I've ever seen in my life in the Senate." 'The world has a lot of cards to play against Putin,' he said. 'We're going to hit China and India for propping up his war machine.' Peace talks or stalling tactic? Peace talks are scheduled to resume Monday in Istanbul. But Ukrainian officials say Moscow has yet to submit a serious proposal — a delay both senators described as deliberate and dangerous. 'Putin is playing President Trump," Blumenthal said. 'He's taking him for a sucker.' The senator said Putin "is, in effect, stalling and stonewalling, prolonging the conversation so that he can mount this offensive and take control of more territory on the ground.' Graham added: 'We saw credible evidence of a summer or early fall invasion, a new offensive by Putin. ... He's preparing for more war.' Trump has yet to endorse the sanctions bill, telling reporters Friday: 'I don't know. I'll have to see it.' Graham said the legislation was drafted in consultation with Trump's advisers. Graham backed the president's diplomatic instincts but said, "By trying to engage Putin — by being friendly and enticing — it's become painfully clear he's not interested in ending this war.' Blumenthal hoped the bipartisan support for Ukraine at least in the Senate — and the personal testimonies they plan to bring home to Congress and the Oval Office— may help shift the conversation. 'He needs to see and hear that message as well from us, from the American people,' he said of Putin. A moral reckoning In Kyiv, the senators said, the war's human toll was impossible to ignore. Graham pointed to what Ukrainian officials and Yale researchers estimate are nearly 20,000 children forcibly deported to Russia — calling their return a matter of justice, not diplomacy. Blumenthal described standing at mass grave sites in Bucha, where civilians were executed with shots to the head. The destruction, he said, and the stories of those who survived, made clear the stakes of delay. 'Putin is a thug. He's a murderer." Both said that failing to act now could pull the U.S. deeper into conflict later. If Putin isn't stopped in Ukraine, Blumenthal said, NATO treaty obligations could one day compel American troops into battle. They see resolve in Europe After a one-hour meeting with Macron in Paris, both Graham, of South Carolina, and Blumenthal, of Connecticut, said they left convinced Europe was ready to toughen its stance. 'This visit has been a breakthrough moment because President Macron has shown moral clarity in his conversations with us,' Blumenthal said. 'Today, he is 100% aligned with that message that we are taking back to Washington.' Blumenthal pointed to the rare bipartisan unity behind the sanctions bill. 'There are very few causes that will take 41 Republicans and 41 Democrats and put them on record on a single piece of legislation,' he said. 'The cause of Ukraine is doing it.' Ahead, Ukrainian military leaders are set to brief Congress and a sanctions vote could follow. 'President Trump said we'll know in two weeks whether he's being strung along,' Graham said. 'There will be more evidence of that from Russia on Monday.'
Yahoo
39 minutes ago
- Yahoo
As Trump fails to sanction Moscow, few expect breakthrough during upcoming Russia-Ukraine talks
As Ukraine and Russia prepare for peace talks scheduled for June 2 in Istanbul, few observers expect a breakthrough. While the U.S. and Ukraine have pushed for an unconditional ceasefire, the Kremlin has rejected it. Instead, Moscow has regularly voiced maximalist demands that are unlikely to be accepted by Kyiv, such as recognition of Russia's illegal annexation of Ukrainian regions and withdrawal of Ukrainian troops from the parts of these regions remaining under Kyiv's control. U.S. President Donald Trump has expressed frustration with Russia's reluctance to make concessions and its intensifying and deadly attacks on Ukraine. However, he has so far refused to sanction Russia. Jenny Mathers, a lecturer in international politics at the U.K.'s Aberystwyth University, said that "(Russian President Vladimir) Putin is clearly engaged in a balancing act between making gestures towards peace to keep Trump quiet without making any compromises or actually trying to ensure that the peace talks make any real progress." "There are no signs that Russia is willing to consider making any concessions, and every sign that Russia intends to keep pushing ahead on the battlefield to try to take control of as much Ukrainian territory as possible," she told the Kyiv Independent. Read also: 'Trump doesn't know how to deal with gangsters' — US lets Ukraine down, once again During the first round of talks in Istanbul on May 16, the two sides failed to reach agreement on a 30-day ceasefire. The only concrete result of the Istanbul talks was a 1,000-for-1,000 prisoner swap completed on May 25 — the biggest prisoner exchange during the war. Ukraine sent a delegation headed by Defense Minister Rustem Umerov to Istanbul, while Russia sent a low-level delegation led by Putin's aide Vladimir Medinsky. Putin did not attend the Istanbul peace talks, despite an invitation from President Volodymyr Zelensky to meet him face-to-face. "The talks did yield a quite sizable exchange of prisoners," Charles Kupchan, a senior fellow at the Council on Foreign Relations, told the Kyiv Independent. "But the glass was more half empty than half full. Putin refused to send a high-level delegation and seemingly little progress was made on the key issue — attaining a ceasefire and durable settlement." Peter Rough, a senior fellow at Hudson Institute, also argued that the first round "didn't produce a strategic breakthrough and is more interesting procedurally in that it put Russian and Ukrainian negotiators face-to-face." "Russia was just going through the motions of talks — showing up and issuing a set of demands before going home," Mathers said. "It was striking that the team for the talks with Ukraine was composed of more junior people than the team sent for talks with the U.S. weeks earlier — this was almost certainly a calculated insult to the Ukrainians." Read also: 'There we go again' — For war-weary Europe, Trump-Putin call yet another signal to 'wake up' Defense Minister Rustem Umerov said on May 28 that Ukraine had submitted its memorandum on proposed ceasefire terms to Russia. Ukraine's proposed memorandum to Russia includes provisions for a ceasefire on land, in the air, and at sea, to be monitored by international partners, The New York Times (NYT) reported on May 30, citing an unnamed senior Ukrainian official. During the Istanbul talks, Russia also promised to submit a memorandum outlining its ceasefire conditions to Ukraine. However, the Kremlin has been dragging its feet on presenting the document. Russian Foreign Minister Sergey Lavrov announced on May 23 that Moscow would present the memorandum immediately after the completion of the prisoner exchange between the two countries. However, the memo was not submitted after the exchange was completed on May 25. Lavrov announced on May 28 that the Russian memorandum would be unveiled during the next round of negotiations set for June 2 in Istanbul. "Russia is dragging its feet for two reasons," Kupchan said. "First, Russia has been advancing on the battlefield, which encourages the Kremlin to keep the war going. Second, Putin has not yet given up on his maximalist war aims and seeks to subjugate as much of Ukraine as possible. He will stop only when Ukraine has the military wherewithal to stop him, which is why Europe and the United States need to keep the arms flowing." Meanwhile, Stefan Wolff, professor of international security at the University of Birmingham, argued that Russia wants "to limit the time that Ukraine has to consider the Russian demands and discuss them with their allies in Europe and the U.S." "Dragging out the negotiations process buys Russia time for further advances on the battlefield and improving and shoring up their position ahead of a ceasefire agreement that will most likely freeze the front lines," he added. Read also: Bracing for more Russian attacks, an anxious Ukraine waits for Trump to do… something During the talks, Russia has consistently stuck to its maximalist demands and refused to make concessions. Putin said in March that Russia would agree to a ceasefire only if there was a ban on Ukrainian mobilization and training of troops and a halt on Western military aid for Kyiv. Experts argue that these conditions are tantamount to demands for Ukraine's surrender. Vasily Nebenzya, Russia's envoy to the United Nations, reiterated the demands on May 30, saying that Russia would only consider a ceasefire if Kyiv stopped receiving Western weapons and halted mobilization. During the Istanbul talks, Russia also demanded that Ukraine recognize the illegally annexed territories as Russian, withdraw from the Kyiv-controlled parts of these regions, and adopt a neutral status, according to a source in the President's Office, who spoke with the Kyiv Independent on conditions of anonymity. Russia illegally annexed Ukraine's Crimea peninsula in 2014. The Kremlin also announced the illegal annexation of Ukraine's Kherson, Zaporizhzhia, Donetsk, and Luhansk oblasts in 2022 despite only partially controlling them. Reuters reported on May 28, citing its sources, that Putin was demanding a written pledge by NATO not to accept more Eastern European members and the lifting of several sanctions as conditions for ending Russia's war in Ukraine. Read also: 'Conditions for Ukraine's surrender' — Why Putin's demands for ceasefire make no sense As Russia remained intransigent, Trump has continued his usual rhetoric, alternating between praise for Putin and frustration with Russia's actions. During a phone call with Trump on May 19, Putin again rejected an unconditional ceasefire. Despite this, Trump said the call "went very well" and once again refused to impose sanctions against Russia. In recent weeks, Trump has repeatedly expressed frustration with Russia. Some of Trump's critical statements followed massive Russian drone and missile strikes from May 24 to May 26 — one of Russia's largest and deadliest aerial attacks during the war. On May 25, Trump said that Putin had gone "absolutely" crazy and warned that if he didn't stop his actions, it could bring about the collapse of Russia. At the same time, Trump also lashed out at Zelensky, saying that he "is doing his country no favors by talking the way he does" — an apparent reference to Zelensky's criticism of Russia and of Washington's failure to crack down on Putin. On May 27, Trump also admitted that "if it weren't for me, lots of really bad things would have already happened to Russia.' Trump has also repeatedly threatened to impose sanctions on Russia but no action followed. The U.S. Senate is considering a bill that would impose 500% tariffs on imports from countries purchasing Russian oil, gas, uranium, and other products. The Senate is expected to "start moving" the bill next week, Republican Senator Lindsey Graham said on May 30. However, it is still unclear if Trump will back the bill. "Trump appears to be getting frustrated with Putin and may be arriving at the conclusion that Putin is playing for time rather than working with Trump to end the war," Kupchan said. "The massive Russian air attacks that keep coming reinforce the view that Russia is not negotiating in good faith." At the same time, there is no indication that Trump's threats will lead to any action. "One of the constants in Trump's behavior has been his tendency to be sympathetic to Russia's positions and arguments and to regard Putin with respect," Mathers said. "Despite brief expressions of frustration and irritation, Trump always seems to return to his default setting of finding Russia's arguments persuasive and being eager to get rid of obstacles to doing business with and in Russia." Wolff also argued that "for Trump, a deal with Russia, any deal, is really important." "Too much pressure on Putin, in Trump's mind, is probably counter-productive to get a deal done," he added. "By contrast, pressure on Ukraine seems like an easier option, including because the U.S. has, or at least thinks it has, more leverage over Kyiv." Read also: As Russia refuses to accept ceasefire, will Trump pressure Moscow? As Trump remains reluctant to punish Russia, the Kremlin appears to have no incentives to agree to a ceasefire. Analysts are skeptical about the possibility of a breakthrough during the second round of talks. "Russia does not yet seem prepared to make the concessions and compromises needed to get a ceasefire," Kupchan said. "There are as yet no signs that Putin is negotiating in good faith and making a sincere effort to end the war." Michael O'Hanlon, director of research in the Foreign Policy program at the Brookings Institution, said that "we will need to turn up the pressure on Putin in several ways for talks to have any real chance of success." "I don't expect much from June 2," he added. "President Trump is learning that Putin is the problem but hasn't fully accepted or internalized that fact yet." Analysts agree that the main problem is Trump's failure to realize that sanctions would be the only realistic way to push the Kremlin towards a ceasefire. 'Putin seems to believe that time is on Russia's side and that Trump will not impose serious constraints on Russia, so Russia is free to demand preconditions that make a ceasefire impossible,' Richard Betts, professor emeritus of war and peace studies at Columbia University, told the Kyiv Independent. 'This might change if Russia suffers some defeats on the battlefield, or political support for Putin within Russia drops, but there is no evidence yet that either of those conditions is likely to occur soon.' Read also: 'Dangerous and cruel' — Trump's reported Crimea proposal sparks horror among Ukraine's lawmakers We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Yahoo
39 minutes ago
- Yahoo
Florida firefighters had to rush to evacuate 60 residents from high-rise after massive crack spotted in column
In early May, construction crews working in the parking garage of South Beach III Condominiums in Clearwater, Florida, spotted a "several‑foot‑wide crack' in a concrete support pillar. As CBS News reports, they immediately flagged the structural concern, eager to prevent another tragedy like the 2021 condo collapse in Surfside, Florida, which killed 98 people. Within two hours, firefighters were knocking on doors in the 12‑story tower, hustling roughly 60 residents onto the street with what they could carry. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) 'Basically for like two days [I'm] wearing the same clothes until things kind of calmed down,' resident Scott May told FOX 13. A week later, engineers installed heavy shoring and declared the column stabilized. Most condo owners were allowed to return to their units — but not those with condos stacked over the column. They were left in limbo. Even the homeowners who could return had to agree to restrictions: no construction or remodeling without written board approval, no deliveries over 75 pounds, and closed balconies above the damaged pillar. It's the latest example of how post-Surfside safety legislation is impacting condo residents.. When the Champlain Towers South condominium crumbled in Surfside in 2021, it exposed decades‑old gaps in Florida's building‑safety oversight. In 2022, lawmakers passed Senate Bill 4-D, also known as the milestone-inspection law. Key points include: Mandatory structural reviews: Every condo of three or more stories must undergo a 'milestone inspection' by an architect or engineer 30 years after completion, or 25 years if it sits within three miles of the coastline, followed by re‑inspections every 10 years. No more reserve waivers: Associations must fully fund reserves for major repairs. Board members who skip or defer funding face personal liability. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it The new rules have already shuttered several condo towers for several years. One high‑profile case is Miami Beach's Castle Beach Club condominum — in which the onsite spa (Russian & Turkish Baths) was forced to close for structural repairs in 2022. The spa finally reopened after a three-year shutdown that kept portions of the 570-unit building off-limits and saddled owners with steep special assessments. The U.S. Sun reports that the monthly dues tripled at Winter Park Woods near Orlando after the HOA board rushed to meet the new reserve rules under the law. One condo owner's monthly HOA fees jumped from $634 to more than $2,100. Some longtime owners were pushed toward foreclosure or fire‑sale listings. State officials like Rep. Vicki Lopez, who sponsored the bill, insist the cost is worth it. "We have strived to reach that delicate balance between the safety of our constituents that live in condominiums, as well as understanding the incredible financial impact that sometimes these particular bills that we pass have,' she told WESH News. While you can't anticipate being forced to evacuate your home for structural reasons, it's good to have a grounding in the steps to take to make the disruption easier to navigate. Here's what to do if you're forced to leave your home: Get documentation. Get, in writing, the official word on why the building is off limits and how long engineers expect repairs to take. Under Florida's condo law, the condo board must share safety findings with owners and tenants upon request. Call your insurance company. Next, contact your homeowners' insurance company. A standard condo policy often includes Loss‑of‑Use (Additional Living Expense) coverage to reimburse your hotel bills, short‑term rentals and even the cost of boarding pets while your unit is uninhabitable. Make sure to save receipts for boarding, hotel, and food, as your insurance may require these for reimbursement. Talk to your lender. Unfortunately, being evacuated from your condo won't halt your mortgage payments. Contact your lender and inquire about a short-term forbearance or other options that may help you cover the costs of alternative accommodations while repairs are being made. Depending on its policies, you may be able to skip a few months of payments and tack them on to the end of the mortgage term. Look for government assistance. Look for programs at the city or county level as federal support may be limited. For example, programs like FEMA generally won't help, as grants require the federal government to declare a disaster and typically exclude defects discovered before a collapse or storm. Document, document, document. If possible, request limited access to your condo to photograph valuables and gather documents, then back up those photos to the cloud. Insurers and lenders may demand proof of condition later. Keep every email, notice, and receipt related to the disruption in one folder — special assessments, hotel invoices, even Uber rides — because you will need those when you file insurance claims, request fee waivers or seek tax relief. Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now This is how American car dealers use the '4-square method' to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
