Latest news with #financial pressure
Bloomberg
20 hours ago
- Business
- Bloomberg
Norway's Wealth Fund Divests From 11 Israeli Companies
00:00 Talk us through the explanation from the CEO, Nikolai Tangen, about this decision. I mean, is it really a sign that there's going to be more financial pressure on Israel in the future? Yeah, I mean, I think two things can be said about this. Number one, the sovereign wealth fund is going to be holding a press conference later today to give some clarity here, because when you pass out the statement, it looks like they've divested or in the process of divesting from 11 companies, but remain invested in something like 50 within Israel. And we don't really have the name, so it's really hard to tell. Now, in terms of the external managers, yes, they've ended those mandates and they've brought it in-house, which they say is at the sort of the the encouragement of the Ministry of Finance. So hopefully we'll get clarity on all of that later today. What's interesting about this is that you're seeing this divergence in the investment community with regard to Israeli assets. So if you look at the Tel Aviv Stock Exchange, it was one of the best performing equity benchmarks in the world in the first six months. The shekel was one of the best performing currencies. In the last four months, IPO volume has tripled. The amount of tech investment is the highest in three years, with big marquee names like Google, Palo Alto Networks and Nvidia making investments in Israel in the last several months. So again, and this is divergence, but Israeli assets as a whole don't seem to be suffering. They are amongst the best performing in the world. Okay. So that's the financial pressure or lack thereof. What about the political pressure? Because we know that the person who really could influence Benjamin Netanyahu, the Israeli prime minister, is Donald Trump. Has his position changed at all when it comes to Bibi's plans to track and occupy Gaza City? Yeah, I mean, it's a really good question. And the short answer is it's very hard to tell. Now, we know that roughly, I guess a couple of weeks ago, he came out and said quite strongly that, you know, he was very concerned by the humanitarian situation, something along the lines of, you know, we've got to get the kids fed. And since then, I think you've seen this renewed effort to sort of up the humanitarian efforts there. There are questions about how effective that that those are. What was also interesting, though, with regard to kind of the political side of it and the plan to go into Gaza City was that we had the U.S. ambassador, Mike Huckabee, in an interview last week. Now, he was not unequivocal in terms of supporting that plan, but he did say, look, the U.S. fundamentally will support Israel in making tough decisions, which I think most people interpreted as, you know, a degree of support for the military plans. But again, I think increasing concerns about the humanitarian situation.
Yahoo
6 days ago
- Business
- Yahoo
'It's sad': Florida's condo fee crisis could trigger the 'next wave of homeless people' in the state
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links. A building safety law that was passed in the wake of the Surfside tragedy in Florida has resulted in a tremendous amount of financial pressure on condo owners. Now, one state lawmaker warns it could prompt the "next wave of homeless people," with elderly residents living on fixed incomes at the forefront. The law requires associations for condos three stories or higher to fully fund their maintenance reserves. Previously, they could waive filling these reserves, which potentially allowed damage to build up over decades. It's also mandatory for buildings at least 30 years old to undergo structural assessments and address any critical issues. Many owners have blamed these rules for adding upwards of tens of thousands of dollars in new fees. 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) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rep. Mike Caruso rang the alarm after the issue was dropped from a special session in January. "It's sad, and we're not going to address it here in the Florida House," Caruso told the Miami Herald. "I'm shocked by it." Here's what has Caruso concerned about elderly condo owners. New building safety law In 2021, 98 people died when Champlain Towers South, a 12-story condominium in the Miami suburb of Surfside, partially collapsed. Legislators rushed to pass safety reforms and a new bill was signed into law. But there was a problem. Many condo associations were short on reserve funds. This means that the costs for now-mandatory inspections and repairs were passed on to unit owners. These extra fees, or special assessments under Chapter 718 of the Florida Statutes, are typically levied in addition to existing fees. Seniors on a fixed income are especially vulnerable to sudden maintenance fee increases. This is even more true for seniors still paying off a mortgage on their condo. What's more, Florida has one of the highest proportions of Americans over 65 in the country at 21.70% of the population, according to the U.S. Census Bureau. Taken together, this can put seniors on a fixed income in dire straits. Downsizing to a smaller place or refinancing the mortgage rate on your current home could be challenging in this economy — with 30-year fixed-rate mortgages hovering at 6.72% as of July, 2025. Shopping around for mortgage rates can help you find the lowest rate possible or negotiate better terms with lenders. Those who received two or more quotes from lenders saved, on average, up to $76,410 over the lifetime of a 30-year fixed-rate mortgage, according to a 2024 study from LendingTree. If you bought your home when mortgage rates were hovering around 23-year highs of 8% or have built up better credit, refinancing your loan could potentially result in lower payments. Read more: BlackRock CEO Larry Fink has an important message for the next wave of American retirees — Another source of financial stress Florida, which is prone to natural disasters, is also facing an insurance crisis. Prominent home insurance providers like Farmers, AAA, and Progressive have been steadily reducing or permanently shutting down operations. Home insurance prices in Florida are among the highest in the nation. The average annual premium for a $300,000 dwelling in the state was $5,340 as of March 24, nearly two-and-a-half times the national average of $2,242, according to Bankrate. But this doesn't mean you can't get affordable insurance coverage for your home. is an online marketplace that lets you compare rates offered by leading aggregators near you for free. A side-by-side comparison of insurance premiums and other features can help you save up to $482 a year on average. After entering basic details about yourself and your home, OfficialHomeInsurance will sort through its database of over 200 insurance companies and display the best deals for you. From here, you can find the lowest home insurance rates available in only minutes. 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 Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead 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. It is provided without warranty of any kind. Solve the daily Crossword
Yahoo
15-07-2025
- Business
- Yahoo
Nearly two-thirds of Canadians want interest rate cuts as financial anxiety grows: Poll
Following two consecutive interest rate pauses by the Bank of Canada (BoC), Canadians continue to feel financial pressure, with many stuck delaying major life goals amid ongoing economic uncertainty, according to the latest MNP Consumer Debt Index released Monday. Nearly two-thirds of Canadians (64 per cent) say they desperately need interest rates to fall, given the financial constraints they're under. Over one-third (36 percent) report feeling anxious or stressed about their financial situation, while one-quarter say they've had to stall life plans (26 per cent) or are constantly putting out financial fires due to an endless stream of unexpected costs (24 per cent). Younger adults and lower-income households are the most likely to report financial strain and feeling stalled, the survey found. 'Canadians have not witnessed such economic uncertainty since the pandemic. We see some stability in financial perception, but many households feel like their lives are on hold, stuck in a financial holding pattern as they wait for the proverbial dust to settle,' said Grant Bazian, president of insolvency firm MNP, in a statement. 'Given the persistent economic pressures and backdrop of global volatility, many are hesitant to make major financial or life decisions, unsure of what lies ahead.' In response to mounting financial pressures, 41 per cent of Canadians have reduced discretionary spending, 33 per cent are increasing savings or building emergency funds, and 27 per cent are prioritizing debt repayment. Nearly one-quarter (23 per cent) are putting life goals on hold, such as buying a home, starting a family or changing careers. Canadians aged 18 to 34 are most likely to postpone these milestones. Over one-third of Canadians (41 per cent) fear that rising interest rates could drive them towards bankruptcy. And, even if rates were to decline, 45 per cent of Canadians remain concerned about their ability to repay debt. According to Bazian, approximately 14 million Canadians say they are close to insolvency. 'There are some persistent fears around interest rates,' he said. 'For some households, the damage has already been done. After years of rising costs, high interest rates and depleted savings, there may be some deep anxieties about what could still be to come.' Even economists are divided on what the Bank of Canada will do next, Yahoo Finance Canada previously reported. In June, economists at Royal Bank and Scotiabank forecast there will be no further rate cuts in 2025, while economists at BMO and Desjardins Group, alternatively, expect a further 75 basis points of cuts by the end of 2025 or early 2026, which would bring the BoC's overnight rate to two per cent. Amid ongoing uncertainty, more Canadians appear to be building financial buffers to safeguard against future economic disruptions. The average amount households have left at month-end has risen to $916, up from just $49 last quarter — the second-highest level since MNP began tracking this data in 2017. The largest increases were among Canadians aged 55 and older (up $84) and middle- to higher-income households. Those earning between $60,000 and $100,000 saw the biggest gains (up $260), followed by households earning over $100,000 (up $129). 'These are small but encouraging signs that some households may be regaining a bit of financial footing,' Bazian said. 'While challenges remain, any movement towards greater stability is meaningful in this environment.' 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
Yahoo
14-07-2025
- Business
- Yahoo
Nearly two-thirds of Canadians want interest rate cuts as financial anxiety grows: Poll
Following two consecutive interest rate pauses by the Bank of Canada (BoC), Canadians continue to feel financial pressure, with many stuck delaying major life goals amid ongoing economic uncertainty, according to the latest MNP Consumer Debt Index released Monday. Nearly two-thirds of Canadians (64 per cent) say they desperately need interest rates to fall, given the financial constraints they're under. Over one-third (36 percent) report feeling anxious or stressed about their financial situation, while one-quarter say they've had to stall life plans (26 per cent) or are constantly putting out financial fires due to an endless stream of unexpected costs (24 per cent). Younger adults and lower-income households are the most likely to report financial strain and feeling stalled, the survey found. 'Canadians have not witnessed such economic uncertainty since the pandemic. We see some stability in financial perception, but many households feel like their lives are on hold, stuck in a financial holding pattern as they wait for the proverbial dust to settle,' said Grant Bazian, president of insolvency firm MNP, in a statement. 'Given the persistent economic pressures and backdrop of global volatility, many are hesitant to make major financial or life decisions, unsure of what lies ahead.' In response to mounting financial pressures, 41 per cent of Canadians have reduced discretionary spending, 33 per cent are increasing savings or building emergency funds, and 27 per cent are prioritizing debt repayment. Nearly one-quarter (23 per cent) are putting life goals on hold, such as buying a home, starting a family or changing careers. Canadians aged 18 to 34 are most likely to postpone these milestones. Over one-third of Canadians (41 per cent) fear that rising interest rates could drive them towards bankruptcy. And, even if rates were to decline, 45 per cent of Canadians remain concerned about their ability to repay debt. According to Bazian, approximately 14 million Canadians say they are close to insolvency. 'There are some persistent fears around interest rates,' he said. 'For some households, the damage has already been done. After years of rising costs, high interest rates and depleted savings, there may be some deep anxieties about what could still be to come.' Even economists are divided on what the Bank of Canada will do next, Yahoo Finance Canada previously reported. In June, economists at Royal Bank and Scotiabank forecast there will be no further rate cuts in 2025, while economists at BMO and Desjardins Group, alternatively, expect a further 75 basis points of cuts by the end of 2025 or early 2026, which would bring the BoC's overnight rate to two per cent. Amid ongoing uncertainty, more Canadians appear to be building financial buffers to safeguard against future economic disruptions. The average amount households have left at month-end has risen to $916, up from just $49 last quarter — the second-highest level since MNP began tracking this data in 2017. The largest increases were among Canadians aged 55 and older (up $84) and middle- to higher-income households. Those earning between $60,000 and $100,000 saw the biggest gains (up $260), followed by households earning over $100,000 (up $129). 'These are small but encouraging signs that some households may be regaining a bit of financial footing,' Bazian said. 'While challenges remain, any movement towards greater stability is meaningful in this environment.' 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
