US Tariffs 'Hard Brexit on Steroids' says PGIM's Neiss
"This is the cliff edge," says PGIM Chief European Economist Katharine Neiss. There is a real risk of "disorderly" decoupling between the US and China, she adds. Neiss speaks with Anna Edwards, Guy Johnson and Kriti Gupta on 'Bloomberg: The Opening Trade'. (Source: Bloomberg)
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Yahoo
31 minutes ago
- Yahoo
South Florida now emerging as the ‘epicenter of housing weakness' — but will it spread to the rest of the US?
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Bubbles don't always burst — sometimes they deflate. But the process can still be painful, as some Florida home sellers are now discovering. According to a Bloomberg analysis of Redfin data, the number of contracts to buy homes in Miami, Fort Lauderdale and West Palm Beach dropped in April compared to a year ago, marking the steepest declines among the 50 largest metro areas in the U.S. 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 BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Notably, pending sales in Miami plunged 23%, while transactions in Fort Lauderdale and West Palm Beach declined by 19% and 14%, respectively. According to Chen Zhao, head of economics research at Redfin, the region is clearly under pressure. 'South Florida is the epicenter of housing market weakness in the United States,' she told Bloomberg. Homes are also sitting on the market much longer than elsewhere. In April, the median time to sell in West Palm Beach and Fort Lauderdale was 83 days, and 81 days in Miami — more than double the national average of 40 days. South Florida saw a historic run-up in prices during the pandemic, with homes routinely selling above asking price. But the tide has turned. In April, the median home sale price across Florida fell 3.2% year over year. And in West Palm Beach, Miami and Fort Lauderdale, nearly 5% of homes sold below asking — compared to just 0.77% nationally. 'I think you're seeing a really long, slow deflation of that bubble,' Zhao said in the Bloomberg analysis, reflecting on the shifting market dynamics. And while Florida may be feeling the pain, Zhao cautions it might not be the only state that ends up struggling: 'The question for the rest of the country is, will this spread? Florida is uniquely bad right now.' Florida's housing market seems to be under pressure, but that doesn't necessarily signal a nationwide collapse. In fact, according to Redfin, the median U.S. home sale price in April was $437,864 — up 1.3% from a year earlier. Zoom out further, and the long-term trend remains clear: Redfin data show U.S. home prices have surged roughly 45% over the past five years. Affordability, however, remains a major challenge due to the imbalance between supply and demand. As Federal Reserve Chair Jerome Powell acknowledged in a press conference last year, the real issue behind America's housing crisis is clear: 'We have had, and are on track to continue to have, not enough housing.' A June 2024 analysis by Zillow estimates the U.S. housing shortage at 4.5 million homes — a gap that continues to support demand and rental prices in many regions. Meanwhile, many investors view real estate as a time-tested hedge against inflation. As the cost of materials, labor and land rises, property values often follow — and so do rents. This allows landlords to earn income that tends to keep pace with inflation. Of course, with today's high home prices, elevated mortgage rates and an uncertain outlook, jumping into the market might feel daunting. But the good news is, you no longer need to buy a property outright to tap into the benefits of real estate investing. Crowdfunding platforms like Arrived offer an easier way to get exposure to this income-generating asset class. Backed by world class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants. The process is simple: Browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you'd like to purchase, and then sit back as you start receiving positive rental income distributions from your investment. Another option is First National Realty Partners (FNRP), which allows accredited investors to diversify their portfolio through grocery-anchored commercial properties, without taking on the responsibilities of being a landlord. With a minimum investment of $50,000, investors can own a share of properties leased by national brands like Whole Foods, Kroger and Walmart, which provide essential goods to their communities. Thanks to Triple Net (NNN) leases, accredited investors are able to invest in these properties without worrying about tenant costs cutting into their potential returns. Simply answer a few questions — including how much you would like to invest — to start browsing their full list of available properties. Read more: Rich, young Americans are ditching the stormy stock market — If you're uneasy about where the U.S. housing market — or the broader economy — is headed, you're not alone. Warnings from top economists and investors are piling up. Nobel Prize–winning economist Paul Krugman has cautioned that a recession could hit the U.S. this year. Meanwhile, Ray Dalio — founder of the world's largest hedge fund, Bridgewater Associates — recently sounded the alarm on 'something worse than a recession.' With soaring national debt, persistent fiscal deficits and rising geopolitical tensions, it's no surprise that markets have been on edge. So where can investors turn for shelter? Dalio points to a familiar safe haven: gold. 'People don't have, typically, an adequate amount of gold in their portfolio,' he told CNBC in February. 'When bad times come, gold is a very effective diversifier.' Long viewed as the ultimate safe haven, gold isn't tied to any single country, currency or economy. It can't be printed out of thin air like fiat money, and in times of economic turmoil or geopolitical uncertainty, investors tend to pile in — driving up its value. Hence why, over the past 12 months, gold prices have surged by more than 40%. One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Priority Gold. Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an option for those looking to help shield their retirement funds against economic uncertainties. When you make a qualifying purchase with Priority Gold, you can receive up to $10,000 in silver for free. JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it's too late) Are you rich enough to join the top 1%? Here's the net worth you need to rank among America's wealthiest — plus a few strategies to build that first-class portfolio You're probably already overpaying for this 1 'must-have' expense — and thanks to Trump's tariffs, your monthly bill could soar even higher. Here's how 2 minutes can protect your wallet right now Access to this $22.5 trillion asset class has traditionally been limited to elite investors — until now. Here's how to become the landlord of Walmart or Whole Foods without lifting a finger This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Upturn
32 minutes ago
- Business Upturn
Redwing Acquires Assets of Swedish Drone Delivery Startup Aerit, Adding European Entry and ML-Based Flight Routing Capabilities
Bengaluru, Karnataka, India: Redwing, a leading provider of drone-based instant logistics solutions from India, today announced the strategic acquisition of the assets of Aerit, a Swedish drone delivery startup recognized for its advanced autonomous delivery technology for suburban homes. This asset acquisition significantly strengthens Redwing's position in Europe, accelerating its expansion efforts in one of the world's fastest-growing drone logistics markets. Aerit had successfully collaborated with Foodora in 2024, with EASA's SAIL II permits for Sweden operations for delivering food from retailers to consumers. Built by a talented team of engineers from Spotify, Scania Group & PhDs, it was the 1st company to complete commercial food drone delivery in Sweden. The integration of Aerit's state-of-the-art autonomous flight technology 'Stewie' and operational know-how significantly enhances Redwing's technological portfolio. This move allows Redwing to rapidly develop and deploy advanced drones tailored specifically to the complex and evolving needs of the logistics sector. Aerit's drone systems are acclaimed for their safety, reliability, and operational efficiency, attributes critical to achieving scalable drone operations and commercial viability. This acquisition underscores Redwing's commitment to driving innovation and achieving leadership in the BVLOS drone logistics industry. With a proven track record of more than 300,000 kilometers of Beyond Visual Line of Sight (BVLOS) flights, Redwing has consistently demonstrated the capability and readiness of its autonomous drone platform in demanding scenarios such as drone logistics in rain, hilly terrains & coastal winds. By integrating Aerit's expertise, Redwing further solidifies its ability to deliver comprehensive, highly reliable drone-based solutions that meet stringent European regulatory requirements. 'The acquisition of Aerit is a pivotal step for Redwing, expanding the BVLOS portfolio & improving ML-based flight routing capabilities alongside EASA regulatory headway,' said Anshul Sharma, co-founder of Redwing. 'By combining Aerit's innovative technology and European market presence with Redwing's deep expertise in scalable, autonomous drone logistics, we are excited to complete this acquisition process.' About REDWING Advertisement Redwing is a multi-use BVLOS drone company based out of Bangalore. They design, build and operate drones with Beyond Visual Line of Sight Capability (BVLOS) that are designed to travel long distances reliably for logistics & other applications. Redwing team has received 12 awards combined in the US and Asia-Pacific by industry giants such as NASA, Lockheed Martin, Boeing, and Airbus through collegiate competitions and is Forbes 30 Under 30 Asia. Website: Click here for Media Contact Details Submit your press release Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same.
Business Wire
34 minutes ago
- Business Wire
KBRA Assigns Preliminary Ratings to Ares European Direct Lending CLO 1 Sarl
LONDON--(BUSINESS WIRE)--KBRA UK (KBRA) assigns preliminary ratings to four classes of notes issued by Ares European Direct Lending CLO 1 Sarl, a cash flow collateralized loan obligation (CLO) backed by a diversified portfolio of middle market corporate loans. This transaction is the first publicly rated UK middle market CLO and the first European private credit CLO to feature a reinvestment period. Ares European Direct Lending CLO 1 Sarl is managed by Ares Management Limited ('Ares' or the 'collateral manager') and will have a 4.7-year reinvestment period. The legal final maturity dates of the notes are staggered, with the senior rated notes having earlier stated maturity dates than the more subordinated notes. The ratings reflect initial credit enhancement levels, excess spread, and coverage tests including overcollateralization ratio and interest coverage tests. The collateral in Ares European Direct Lending CLO 1 Sarl will mainly consist of middle market loans issued by corporate obligors diversified across sectors. The total portfolio par amount is $280 million with exposure to 57 obligors. The obligors in the portfolio have a K-WARF of 3125, which represents a weighted average portfolio credit assessment of approximately B-. Ares is a wholly owned subsidiary of Ares Management LLC established in 1997. Ares employs the resources of its European Direct Lending credit team, which manages the European Direct Lending credit funds for the Ares Credit Group. The Ares Credit Group is a leading manager of credit strategies across the global credit universe, with approximately $348.8 billion of AUM and approximately 285 funds as of December 2024. Ares offers a range of investment strategies across the liquid and illiquid credit spectrum and is one of the largest self-originating direct lenders to the U.S. and European middle markets. The preliminary ratings on the Class A, B, C, and D Notes consider the timely payment of interest and the ultimate payment of principal by the applicable legal final maturity date. To access ratings and relevant documents, click here. Click here to view the report. Methodologies Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. This credit rating is endorsed by Kroll Bond Rating Agency Europe Limited for use in the European Union. Information on a credit rating's endorsement status is available on its rating page at Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at There are certain issuers, entities or transactions rated by KBRA Europe or KBRA UK that may be or have relationships with Shareholders and/or Shareholder-Related Companies, as that term is defined in KBRA's Shareholder and Shareholder Related Companies for KBRA Europe and KBRA UK Policy and Procedure. Relevant disclosure information may be found here. About KBRA UK Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Kroll Bond Rating Agency UK is located at 1 Connaught Place, 2nd Floor London, England. Doc ID: 1009795
