French Budget Is a ‘Ticking Bomb' for Euro, ING's Pesole Says
The common currency touched its weakest level against the dollar in a month on Tuesday as France's minority government revived political tensions with proposals to sharply rein in the deficit, including scrapping two national holidays.
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27 minutes ago
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NYC Billionaire Charles Cohen being sued over bad $535M loan — how to build real estate wealth without drowning in debt
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. New York City real estate tycoon Charles Cohen has lived a life most people only dream of — complete with exotic cars, lavish mansions and fancy yachts. Now, some of his prized possessions are under threat as a massive business loan gone bad starts to have very personal consequences. Cohen, 73, is being sued by Fortress Investment Group over a $535 million loan extended in 2022 to his firm, Cohen Realty Enterprises. The collateral included a Manhattan office tower, the Le Meridien Dania Beach hotel in Fort Lauderdale, Florida, and four other properties, according to The Wall Street Journal, citing records from New York State's Supreme Court. But that's not all: Cohen personally guaranteed $187.2 million of that loan. His net worth is nearly $2 billion, according to a financial statement filed with the court. His business defaulted last year, and Fortress has since seized much of the collateral. Still, the firm claims those assets fall far short of what Cohen owes, reports The Journal. That shortfall has led Fortress — an investment giant partially owned by Abu Dhabi's Mubadala Capital — to go after Cohen's personal wealth. And that's exactly what it's doing. Fortress is seeking to confiscate Cohen's homes in Provence, France, and Greenwich, Connecticut, reports The Journal, along with his fleet of 25 luxury cars and five yachts — including a 220-foot superyacht that's presently docked at an Italian port under court order. Don't miss 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) You don't have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here's how Following a French court order, debt collectors have already seized hundreds of thousands of dollars' worth of Cohen's belongings from his 138-acre estate and vineyard in Provence, according to The Journal. The haul apparently included high-end furniture, valuable artworks and a fine wine collection. 'They keep pecking at us, like a bird would peck at something,' Cohen said of Fortress in a February deposition, per The Journal. 'Enough was never enough.' A blunt reality check Real estate has long been one of the most powerful tools for building wealth — and for good reason. It has the potential to generate steady rental income, appreciate over time and offer valuable tax advantages. But as Cohen's case shows, that success isn't guaranteed — especially when there's large amounts of debt involved. Leverage is a common part of real estate investing, even for everyday investors. With home prices sky-high, most people need to take out a mortgage to buy an income property. And with interest rates elevated, borrowing has become more expensive — assuming you can even save enough for a down payment. The good news? You no longer need to take on traditional debt to get started in real estate. Becoming a real estate mogul — starting with $100 Crowdfunding platforms like Arrived have made it easier than ever for everyday investors to gain exposure to America's real estate market. 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 any positive rental income distributions from your investment. Read more: Rich, young Americans are ditching the stormy stock market — A $35-trillion opportunity Rising home prices have helped Americans build substantial wealth through homeownership — but for years, the $35-trillion U.S. home equity market was an exclusive playground for big institutions. Homeshares is changing the game by allowing accredited investors to gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning, or managing property. With risk-adjusted target returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets. Be the landlord of Walmart If you've ever been a landlord, you know how important it is to have reliable tenants. How do grocery stores sound? That's where First National Realty Partners (FNRP) comes in. The platform 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. What to read next 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 Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here's how Car insurance in America now costs a stunning $2,329/year on average — but here's how 2 minutes can save you more than $600 in 2025 Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. 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an hour ago
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Revealed: The true cost of Trump's tariffs on UK small businesses
A third of small UK businesses fear losing up to £20,000 this year amid the uncertainty caused by Donald Trump's new trade tariffs, a new report shows. Across April and May, the US President announced - and then called a pause for - levies being placed on all goods imported to the US from other nations, as part of a plan to readdress trade balances. While the UK has since arranged a trade deal with the nation, many other countries or blocs have not done so and there remains uncertainty within some industries. A new report looking at more than 500 small and medium enterprises (SMEs) across the UK has now revealed three in ten (30 per cent) estimate the cost of tariff knock-on effects to be between £10,000 and £20,000 this year, while two per cent believe it will cost them over £1m. Firms in the services sector are hardest hit, but across all sectors the average amount lost to tariff 'turbulence' is anticipated at £17,000 per business. One critical factor affecting those who import and export has been this year's volatile exchange rates, with £1 now equal to $1.358 - more than eight per cent higher than it was at the start of this year. Tariff business impact When the US President announced his tariffs, a stock market sell-off ensued - but it wasn't until bonds also sold off, sending yields (and therefore borrowing costs) higher, that he relented to a point. While those high-profile numbers were of course important, another key fluctuation came in the weakening of the dollar, which has lost ground all year. The US Dollar index measures the value of the currency against a mix of other global currencies, showcasing its faltering power in 2025. At the start of the year it stood at 108.49 on this index; it now stands at barely above 97, a deterioration of more than 10 per cent. If you are importing from the States, that is a positive - your pound buys more of US-based local goods, at least until sellers put prices up to account for the drop. For exporters, however, that is a big problem as it squeezes profit margins. A critical issue, particularly for smaller businesses, has been the rate of change and the lack of certainty about what is next. Responding to the survey undertaken by Critical Research, more than half (51 per cent) of businesses who export to the US said they expected a net decrease in volumes in future. Perhaps pointing to other geopolitical matters escalating, 47 per cent of all exporters - to the US or otherwise - said the same. New challenges Across all sectors, around 30 per cent of small and medium UK businesses export to the US. That figure is notably higher in retail and wholesale industries. They point to tariffs and customs regulations as the biggest issues facing them - as do importers, notably - ahead of such factors as inflation, global conflicts, costs of trading overseas and the impact of Brexit on their businesses. 'There's a lot of hidden activity - SME businesses are constantly dealing with change,' Jonathan Andrew, chief executive at Bibby Financial Services, told The Independent. 'Firms are making constant operational changes and even small businesses are having to assess how things impact on your own business. 'Doing nothing isn't an option - that's the reality of tariffs which is dawning now.' Many firms are opting to find new trade partners, the survey revealed, but they are now looking beyond the US in many cases - China was instead the most popular choice for both importers and exporters. Future As well as location, such global uncertainty means currency management is set to become a bigger factor for businesses too. 'SMEs are starting to pay more attention to foreign exchange. People have to think about revenue streams and where their income is from in currency terms, especially medium sized businesses,' Mr Andrew added. The UK's newly released industrial strategy said it is targeting 'long term stability' for businesses as a core focus. That will mean it will need to try and shield businesses working within those key industries from wider uncertainty, with recent trade deals - signed with the likes of India as well as the US - being one approach which can smooth the path for importers and exporters. But The Independent understands there are businesses now within the EU considering opening plants in the UK, as a potential easier route to exporting to the US. While that could yield an overall boost to potential economic growth, it could also heighten competition for those smaller domestic businesses already grappling with ever-changing conditions they are not always equipped to deal with. 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
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an hour ago
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Three-quarters of small businesses will raise prices - yet nearly half are seeing profits shrink
A new survey among small and medium-sized businesses (SMEs) has found that a huge majority expect to be raising prices over the next year, with optimism split on whether they will survive or thrive amid challenging economic conditions. Business owners have been hit this year by raised National Insurance Contributions and a higher minimum wage, while a new pensions review could ultimately see them have to contribute more in the future as well. Meanwhile inflation from raw materials and higher energy costs have meant that their own prices have been on the increase, contributing to overall UK inflation levels. In addition, tariff uncertainty impacted those exporting to the US in the earlier part of the year before a trade deal was agreed. It all amounts to a difficult backdrop for companies this year, with SMEs typically harder-hit than larger businesses when consumer spending drops. Unsurprisingly, that means shoppers can expect to see another price hike coming in many places across the rest of 2025 and beyond, as detailed in a report by Simply Business, an insurance firm representing close to a million SMEs across the UK. A massive three-quarters (74 per cent) of more than 2,300 business owners surveyed said they'll need to raise prices in the coming year, an increase from the two-thirds who said so in 2024. More than three in five (63 per cent) businesses anticipate raising prices up to 20 per cent, but only 2 per cent expect prices to decrease in the coming 12 months. Despite those price increases, the businesses are not making more money. Nearly half (44 per cent) see profits decreasing in 2025, with fewer than two in five (17 per cent) expecting to see a rise in profits. Almost as many (16 per cent) say their profits will go down by more than a quarter. High street at stake An ongoing trend has been concerns about the long term future of the UK high street. Smaller businesses are increasingly despondent about its future, with a huge 82 per cent of SMEs saying their local high street has declined, 74 per cent saying shopper numbers are down and nearly two-thirds - 63 per cent - believing the notion of the national high street will be obsolete within ten years. As a result of this, more than a third of small business owners (37 per cent) are considering selling up or closing their doors this year for good. Government support is needed, the majority feel, to ensure a turnaround. Fewer 'chains' and more independent shops are seen as the best way to aid a reversal of fortunes, with free or cheap parking and more events of wider options of things to do also high on the list. The survey further revealed a quarter of small business owners expected to have to use their savings to prop up their business - yet despite these apparent hardships, more than half, 57 per cent, still feel optimism about their business' future. That is backed up by figures showing the number of new businesses registered in the first three months of this year was up almost 3 per cent compared to the same time last year. Small businesses contribute more than £2.8tn in turnover to the economy and account for more than half of the UK's private sector employment. 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
