US labour market continues to surprise with 147,000 new jobs
Hiring rose modestly from a revised 144,000 in May and beat economists expectations of fewer than 118,000 new jobs and a rise in the unemployment rate
AP
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News.com.au
14 minutes ago
- News.com.au
Jon Bon Jovi dragged into dispute over $65 million mansion
Jon Bon Jovi has been dragged into a property dispute after he reportedly refused to sell his $US43 million ($A65 million) mansion to a mysterious buyer who's snapping up properties in the sought-after area. According to the Wall Street Journal, an anonymous buyer has 'been quietly assembling one of the most valuable private estates' in Palm Beach — which sits mere minutes from President Donald Trump's Mar-a-Lago resort. So far, the unnamed buyer has forked out $US250 million ($A380 million) on four separate homes in the Florida enclave in recent months. The estate is said to include a $US178 million ($A271 million) piece of prime oceanfront land that was initially put on the market by cosmetics mogul William Lauder — who is heir to the Estée Lauder fortune — in 2023 for $US200 million ($A304 million), as well as two separate homes that sit across the street from that plot. Sources told the Journal the unidentified real estate mogul is far from done with the spending spree. The buyer is said to already have their sights set on another investment property: a Mediterranean-style mansion that sits alongside their newly acquired waterfront land. The home is owned by the 'Livin' on a Prayer' singer. The acquisition of the rocker's dwelling would provide the buyer with one of the most sizeable waterfront properties in Palm Beach — made all the more impressive by the addition of the two properties that sit directly behind it. Yet, the apparent real estate scheme has reportedly hit a major snag with Bon Jovi, who is said to have 'resisted overtures to sell his property'. Property records seen by Realtor indicate the seven-bedroom, 12-bathroom home was last purchased in July 2020 for $US43 million ($A65 million) via an LLC — of which Bon Jovi's longtime business manager Charles Sussman was listed as the manager. The home had originally been listed for $US44.9 million ($A68.3 million) in January of that year and was described as a 'stunning direct oceanfront estate' complete with a workout room, a temperature-controlled wine cellar, private in-home elevators, and two oceanfront loggias, as well as a separate pool cabana. Bon Jovi's home sits directly to the left of the Lauder land that was reportedly purchased in February of this year in an off-market deal. Sources told the Journal the buyer paid close to the reduced asking price of $US178 million ($A271 million) for the plot. The land was originally purchased by Lauder in two separate deals. The first acre was bought up in 2020 for $US25.4 million ($A38.6 million), one year before the businessman added the second 1.8-acre property for an undisclosed sum. Initially, the two plots had been home to two separate oceanfront mansions, which Lauder demolished to make space for his own enormous dwelling. However, he shelved those plans and opted to put the vacant land on the market. In addition to that expansive plot, the anonymous buyer is said to have also picked up two dwellings that sit directly behind it, although neither dwelling ever came on the market. Property records show that one of those homes was owned by Thomas Harvey and his wife, Cathleen Black, who bought the dwelling for $US4.2 million ($A6.3 million) in 2018. Though Realtor estimates the home is now worth around double that, the Journal reports that the buyer paid a staggering $US18 million ($A27 million) for it. Mr Harvey told the outlet in an email that the person made an 'unsolicited offer' on his house — while adding that he does not know their identity. Days later, the dwelling next door to Mr Harvey's property was also sold, this time for $US30 million ($A45 million), according to the Palm Beach Daily News, having previously been registered to a trust. That home, which was also purchased in an off-market deal, had last traded hands for $US5.3 million ($A8.07 million) in 2017 and was last linked to an LLC. Both properties, per the Palm Beach Daily News, were most recently purchased via LLCs that are registered in Delaware: Creekshore LLC and Mango Leaf LLC. According to The Real Deal, discussions about the potential purchase of Bon Jovi's home are still ongoing, despite the singer's reluctance to part ways with his property. The buyer is also said to have begun conversations about buying the home that sits on the other side of the Lauder land. That home is currently owned by casino mogul William M. Rickman Jr., who purchased it in 2016 for $US13.1 million ($A19.9 million). Built in 1935, the property boasts six bedrooms and 6.5 bathrooms, as well as water frontage. Though the identity of the buyer has not yet been confirmed, sources have claimed to the Real Deal the person believed to be behind these multimillion-dollar deals is Microsoft mogul Charles Simonyi, who spent years working alongside Bill Gates. Gates' name was also thrown into the mix of potential buyers, along with former Microsoft CEO Steve Ballmer, suggesting the deals all have strong ties to the computer company. All three men boast incredibly impressive property portfolios, and each owns at least one dwelling in the popular Seattle enclave of Hunts Point, Washington State which is widely considered to be something of a haven for billionaire tech moguls.
Perth Now
32 minutes ago
- Perth Now
New management revives SRT performance division that developed Hellcat V8 engine
There's a new CEO in charge at Stellantis, and he's bringing back the racing department that developed the supercharged Hellcat V8. Antonio Filosa, who took charge of the French-Italian-American automotive conglomerate in late June, has been slowly announcing his executive and senior management team. He has promoted Tim Kuniskis, currently head of Ram, to oversee all of its North American brands, which also include Dodge, Jeep and Chrysler. 2016 Dodge Challenger SRT Hellcat Credit: CarExpert Mr Kuniskis will also head up the revived Street and Racing Technology (SRT) division that was shuttered in 2021 not long after Fiat Chrysler merged with the PSA Group — parent of Peugeot, Citroen, DS, Opel and Vauxhall — to form Stellantis. SRT will once again be put in charge of engineering performance models for all four North American marques. It will also take over Stellantis North America's racing operations, which include drag racing and, starting next year, the NASCAR Truck Series. In its past life SRT made vehicles like the Dodge Neon SRT-4, as well as the V10-powered Dodge Viper. Its most recent efforts were concentrated around the 6.2-litre supercharged Hellcat V8 engine, which was installed in the Dodge Charger sedan and Challenger coupe, Jeep Grand Cherokee Trackhawk, and Ram 1500 TRX. The division also worked its magic on less fire-breathing V8 models, including those used in the Chrysler 300. Supplied Credit: CarExpert Although the SRT division was disbanded in 2021, the company continued to develop the Hellcat engine up until the demise of the third-generation Dodge Challenger and seventh-generation Dodge Charger. The Hellcat soldiers on to this day under the bonnet of the Dodge Durango Hellcat. No plans for SRT have been announced so far, but it's widely hoped it will try to find a way to insert V8 Hellcat engine into the new Charger coupe and sedan, which are currently only available with electric drivetrains and turbocharged 3.0-litre straight-six Hurricane petrol engine. Hopes have been raised since Mr Kuniskis returned to run Ram in late 2024. In June he announced the 5.7-litre Hemi V8 would return the 1500 ute range after year-or-so away. 'Everyone makes mistakes, but how you handle them defines you. Ram screwed up when we dropped the Hemi — we own it and we fixed it,' he said at announcement. This week announcement of SRT's revival and the elevation of Mr Kuniskis to oversee Dodge, Ram, Jeep and Chrysler is a real back-to-the-future moment. Mr Kuniskis held a similar role in 2014 when these brands were part of Fiat Chrysler, and is widely credited with championing the Hellcat V8 project. MORE: Everything Jeep
7NEWS
33 minutes ago
- 7NEWS
New management revives SRT performance division that developed Hellcat V8 engine
There's a new CEO in charge at Stellantis, and he's bringing back the racing department that developed the supercharged Hellcat V8. Antonio Filosa, who took charge of the French-Italian-American automotive conglomerate in late June, has been slowly announcing his executive and senior management team. He has promoted Tim Kuniskis, currently head of Ram, to oversee all of its North American brands, which also include Dodge, Jeep and Chrysler. Mr Kuniskis will also head up the revived Street and Racing Technology (SRT) division that was shuttered in 2021 not long after Fiat Chrysler merged with the PSA Group — parent of Peugeot, Citroen, DS, Opel and Vauxhall — to form Stellantis. SRT will once again be put in charge of engineering performance models for all four North American marques. It will also take over Stellantis North America's racing operations, which include drag racing and, starting next year, the NASCAR Truck Series. In its past life SRT made vehicles like the Dodge Neon SRT-4, as well as the V10-powered Dodge Viper. Its most recent efforts were concentrated around the 6.2-litre supercharged Hellcat V8 engine, which was installed in the Dodge Charger sedan and Challenger coupe, Jeep Grand Cherokee Trackhawk, and Ram 1500 TRX. The division also worked its magic on less fire-breathing V8 models, including those used in the Chrysler 300. Although the SRT division was disbanded in 2021, the company continued to develop the Hellcat engine up until the demise of the third-generation Dodge Challenger and seventh-generation Dodge Charger. The Hellcat soldiers on to this day under the bonnet of the Dodge Durango Hellcat. No plans for SRT have been announced so far, but it's widely hoped it will try to find a way to insert V8 Hellcat engine into the new Charger coupe and sedan, which are currently only available with electric drivetrains and turbocharged 3.0-litre straight-six Hurricane petrol engine. Hopes have been raised since Mr Kuniskis returned to run Ram in late 2024. In June he announced the 5.7-litre Hemi V8 would return the 1500 ute range after year-or-so away. 'Everyone makes mistakes, but how you handle them defines you. Ram screwed up when we dropped the Hemi — we own it and we fixed it,' he said at announcement. This week announcement of SRT's revival and the elevation of Mr Kuniskis to oversee Dodge, Ram, Jeep and Chrysler is a real back-to-the-future moment. Mr Kuniskis held a similar role in 2014 when these brands were part of Fiat Chrysler, and is widely credited with championing the Hellcat V8 project.
