Pelican Press

Botin’s Costly Credit Suisse Hiring Spree Is Reshaping Santander Botin’s Costly Credit Suisse Hiring Spree Is Reshaping Santander (Bloomberg) — When the Iowa Tribe of Oklahoma recently sought to finance a casino between Oklahoma City and Tulsa, it turned to Banco Santander SA to find investors. Most Read from Bloomberg Spain’s biggest bank would have been an unlikely bookrunner several years ago, when it counted on one hand the leveraged loans it arranged in the US. But after a hiring spree that included dozens of former investment bankers from Credit Suisse’s Wall Street outpost, Santander has been rapidly climbing the league tables, with more than a hundred deals in the US this year already. The new recruits and the flurry of transactions they’re reeling in are starting to reshape the retail-lending giant, whose stock has lost a third of its value under the decade-long tenure of Chairman Ana Botin. In what is arguably its biggest Wall Street expansion ever, the firm acquired Amherst Pierpoint Securities for $600 million about three years ago and has since added hundreds of investment bankers in the US and ***, with some 200 joining since early last year. With that bet come some growing pains, including significant upfront expenses. While the recruits are making inroads into businesses such as leveraged finance, some of their pay packages far exceed what longtime staffers get, leading to consternation at a firm where consumer and commercial lending remain the heart of the business, according to people familiar with the matter. The number of material risk takers making at least €1 million has more than doubled in three years. That’s adding to pressure on investment bank profit, with the unit’s US arm reporting a pretax loss last quarter. This story is based on conversations with about a dozen people who have insight into the Spanish lender’s effort to expand the investment bank. They asked for anonymity discussing internal matters. “Over the past 18 months, we have strengthened our US team significantly,” said a spokesperson for Santander. “By combining this additional, complementary, expertise with the scale of the Santander network, we are delivering new products and services and deepening relationships with clients across the group.” For much of its 167-year history, Santander was a regional lender few outside northern Spain had heard of. Ana Botin’s late father Emilio Botin transformed it into an intercontinental powerhouse with dozens of acquisitions in Mexico, Brazil, Chile, Poland, the *** and US. Investment banking, however, remained an afterthought. Story Continues Not so for Ana Botin, 64, who started her career at JPMorgan Chase & Co. in the 1980s. She joined Santander at the age of 28 and took over from her late father in 2014. Under her leadership, Santander brought in Jose Linares, who now runs the investment bank, and Hector Grisi, a former Credit Suisse banker who eventually became chief executive officer. Both are playing a key role in the effort to reshape Santander’s securities and advisory business. Linares, an ex-JPMorgan banker, oversaw the purchase of Amherst Pierpoint, one of 25 primary dealers for the Federal Reserve. The deal strengthened its position in fixed income and provided it with access to more than 1,300 institutional investors. It also kicked off an expansion in US investment banking that was turbocharged by the dismantling of Credit Suisse’s investment bank. The Swiss bank’s troubles afforded Santander an opportunity to hire a slew of talent, including in New York. Among them are Steve Geller, the former head of M&A at Credit Suisse, and leveraged finance banker Jeff Cohen, who spent more than two decades there. David Hermer, who oversaw equity and debt capital markets for the Swiss firm, now runs Santander’s investment bank in the US. At the same time, a number of Santander’s veterans departed. They include Frederic Hauteville, the former head of corporate and investment banking for France and Benelux, Javier Sobrini, who oversaw energy infrastructure, and Jorge Gil. Alexandra MacMahon, the head of Santander’s investment bank in the ***, recently left to join ING Groep NV. The new hires helped Santander post €6.26 billion revenue in the investment bank during the first nine months of this year, or almost 14% of the group’s top line. That compares with a little over 10% five years earlier. The business is Santander’s second-most important contributor to profit, after retail and commercial banking. Profit at the unit, however, declined almost 5% in the first nine months as expenses rose. The US investment bank reported a pretax loss. Analysts have said expanding the investment bank may help lift Santander’s share price. RBC analyst Benjamin Toms estimated in May that the investment banking unit alone is worth about €18 billion, or a quarter of the bank’s total market capitalization. The unit “is a material tailwind to the bank’s future story,” Toms wrote. “Management have the sensible ambition to be the most profitable rather than the largest” in the business. Santander has said it doesn’t want to take on the biggest Wall Street banks head-to-head. It said last year that it planned to double the size of its investment banking operations in the US, where it employed around 900 staff at the time. That figure has since grown to about 1,300, including support staff. Not all of them are new hires. Areas where the firm says it’s making inroads include merger advisory, equity and debt capital markets. One business where Santander has been particularly busy is leveraged finance, overseen by former Credit Suisse banker Cohen, with help from Jonathan Moneypenny and Max Lipkind, who also came from the Swiss bank. After their appointment, some existing staffers transferred to new positions as the unit expanded and more Credit Suisse bankers joined.Then-head of US syndication, Paul McDonald, moved into origination. Another senior Credit Suisse banker, Craig Jeffers, took on the syndication role, according to a person familiar with the matter and their LinkedIn profiles. Santander also hired Joel Kent as head of leveraged finance trading, Bloomberg reported. Cohen, Jeffers, Moneypenny, McDonald, Kent and Lipkind didn’t respond to requests for comment. With mergers and acquisitions still stuck in a lull and leveraged buyouts struggling to make a comeback, one business Santander has been focusing on is helping companies refinance or reprice their debt. It has done 110 leveraged loan deals in the US this year so far, including some for new acquisitions, compared with 21 in the same ******* a year earlier, according to data compiled by Bloomberg. The $200 million debt deal in Oklahoma for which Santander had been sounding out investors has since priced. The proceeds will go to pay for the construction of a new resort branded as a Harrah’s casino, Bloomberg reported. With Donald Trump returning to the White House, bankers are expecting a revival in deals and buyouts. That could revive demand for new financings, which have been hard to come by until now as most borrowers were focused on refinancings. Despite those pressures, the Spanish lender is keen to ensure its culture doesn’t change and clients remain the driver of new business, said two of the people. While many of the top investment bankers are ex-Credit Suisse, the risk committee that decides on large deals is mostly composed of legacy Santander bankers. For Botin, expanding the investment bank is only one leg of a larger effort to grow in the US. Santander recently launched its digital branch Openbank in the world’s largest economy, which could help boost deposits, a cheap source of funding. “I’m not going to take many customers from JPMorgan,” Botin said in October. “But I do hope to get a few.” –With assistance from Manuel Baigorri, Laura *******, Todd Gillespie and Jeannine Amodeo. Most Read from Bloomberg Businessweek ©2024 Bloomberg L.P. Source link #Botins #Costly #Credit #Suisse #Hiring #Spree #Reshaping #Santander Pelican News View the full article at [Hidden Content]

Tribute to ‘happy, vibrant’ brothers in plane tragedy Tribute to ‘happy, vibrant’ brothers in plane tragedy Two brothers ******* in a light plane ****** have been remembered as “exceptional” young men with “extraordinary” talent. Pilot Luke Smith, 20, his 16-year-old brother Benny, from Tongala in central Victoria, and cousin Dusty Daly, 15, ***** in the ****** in Victoria’s east Gippsland on Saturday. Their aircraft was seen circling at Tinamba West, 200km east of Melbourne, before crashing into a paddock and bursting into flames about 5.45pm. Tongala Football and Netball Club paid tribute to the brothers’ contribution to their community. “Two beautiful, happy, vibrant, talented and loved boys from Tongala lives have been cut tragically short,” a statement read. “Familiar faces growing up in Tonny, attending kindergarten, TPS and making contributions to our local clubs. “Their absence will leave an irreplaceable void in the hearts of all who knew and loved them.” Luke was remembered as “an exceptional young man, whose smile would light up the room”. “Known for his drive, intelligence and unwavering love for his family, friends, sport, and flying,” the club said. “We will forever miss seeing Luke jump over a pack, deliver fast-paced bowling and hit 6s out of the ground.” Benny was said to be a quiet achiever with “extraordinary talent and a bright future ahead of him”. “A humble yet fierce competitor, he was the ultimate team player who always gave his all,” the statement read. “We will miss watching him weave his way out of a pack, display his keen eye for a goal, and deliver those crucial partnership-breaking wickets.” Family members of the three victims, Alistair Smith and Leonie Smith and Amy and Mathew Daly, earlier detailed their grief in a statement. “We are deeply saddened to confirm the loss of Luke Smith (20), Tongala, his brother Benny Smith (16), Tongala, and their cousin Dusty Daly (15), Tinamba West, on Saturday 16th November,” the families said. “This is an incredibly difficult time for our family and we kindly request privacy as we navigate through our grief. “Our thoughts are with everyone who has been affected by this loss, and we ask for your understanding as we focus on supporting one another during this challenging *******.” The *********** Transport Safety Bureau is investigating the ******, describing the plane as an “********-built light aircraft”. A team of investigators specialising in aircraft operations and maintenance will probe what happened. They will examine the wreckage, interview witnesses, comb through flight tracking data, examine other records and take pieces of the aircraft away for further examination in Canberra. Source link #Tribute #happy #vibrant #brothers #plane #tragedy Pelican News View the full article at [Hidden Content]

S&P 500, Nasdaq: Trump Hangover Selloff Not Enough to Change Technical Outlook S&P 500, Nasdaq: Trump Hangover Selloff Not Enough to Change Technical Outlook With the election over the hangover has kicked in. Markets liked the result, but it was too much too fast. Sizable breakout gaps have delivered moves back into these zones. True breakout gaps don’t close, so the losses we have seen can’t go much farther if we *are* looking at breakouts, and I think these are true breakouts. The () has the most room to move before it closes the gap. the 20-day MA is there to help and technicals are mostly bullish. Small Caps should do well under Trump as deregulation kicks in. The is back at its 20-day MA and has returned to bullish net technicals. Volume picked up in distribution. Given Friday’s finish, there is a good chance for a positive. On the other side, the has broken through its moving averages and the bearish wedge, in a clear gap down. Technicals are net bearish with little cause for optimism. We may see a retest of August lows before the year is out. Not surprisingly, the is under pressure from weakness in Semiconductors. On the plus side, the tech-heavy index finished on the 20-day MA and breakout support, but with the loss of support in Semiconductors, it’s going to be hard for this breakout to hang on. Technicals are mixed. Despite the ‘sell’ trigger in On-Balance-Volume, the trend still points to accumulation as the index outperforms against the S&P 500. With the result of the election established there will be a realignment of the sectors that will outperform (or underperform) under the next administration. The marriage of Trump and Musk is unlikely to last given their differing priorities and egos, but until then, let price action be your guide. Source link #Nasdaq #Trump #Hangover #Selloff #Change #Technical #Outlook Pelican News View the full article at [Hidden Content]

Average *** house prices drop by £5,366 as post-budget jitters set in Average *** house prices drop by £5,366 as post-budget jitters set in Data shows the average price of a *** property coming to market is down 1.8% this month, or the equivalent of a £5,366 discount, as the cost of a home swoops to £366,592. This marks the second month of higher than average declines on the trot, with the usual drop seen at this time of year being 0.8%, according to property portal Rightmove. Last month’s pre-budget jitters have turned into post-budget disappointment, creating new challenges for the housing market, and appear to have caused a larger-than-normal seasonal slowdown in pricing as we head towards Christmas, Rightmove said. Read more: Britain’s most affordable towns to buy a house revealed Despite the budget, activity ******** stronger than last year due to optimism around the interest rate cut path, which is feeding through to mortgage rates. Due to this, following analysis of real-time data, Rightmove has forecast a 4% increase in average new seller asking prices next year. Although prices are predicted to rise, the market is expected to remain price-sensitive, with sellers currently competing with a decade-high number of other sellers to attract a buyer. While more mortgage rate cuts are still expected during 2025, bank rate cuts are now forecast to be slower-paced, which could delay the affordability improvements that some movers have been holding out for, Rightmove added. More mortgage rate cuts are still expected during 2025, according to Rightmove. (PA/Alamy) · Maureen McLean “The signs are that the market momentum that we’ve been seeing this year will continue into next year, especially if mortgage rates drop to a level that gives greater affordability to some movers who have been waiting in the wings until now,” said Tim Bannister, Rightmove’s director of property science. “However, we still expect some twists and turns next year. The speed at which mortgage rates come down next year will be key in determining activity levels for some of the market’s traditionally busiest periods, and sellers will still need to price temptingly enough to secure a buyer while the choice of homes for ***** ******** as high as it is right now,” he added. Rightmove’s forecast tracks with other data released earlier this week, which suggested that the ***’s average house price is set to rise by 3% in 2025, followed by a further uptick of 3.5% in 2026 and 2.7% in 2027. Next year, this would bring the average house price to £300,000, or around a £10,000 increase on current levels. Read more: Best *** mortgage deals of the week, 14 November Estate agency Hamptons’s near-term forecasts have remained unchanged, but the longer-term view has been similarly downgraded due to high interest rates and the tax landscape. Story continues Regionally, London is expected to be the winner in 2025, outperforming other regions for the first time in around a decade. Hamptons forecast a 4% annual house price growth in London in 2025. Download the Yahoo Finance app, available for Apple and Android. Source link #Average #house #prices #drop #postbudget #jitters #set Pelican News View the full article at [Hidden Content]

Task force to tackle ****** in Brisbane's tent cities Task force to tackle ****** in Brisbane's tent cities A task force has been established to tackle ‘anti-social behaviour’ at tent cities in Brisbane’s parks, as homelessness services buckle under pressure. Source link #Task #force #tackle #****** #Brisbane039s #tent #cities Pelican News View the full article at [Hidden Content]

Star WA all-rounder Mitch Marsh trains with Australia after he welcomes first child with wife Greta Star WA all-rounder Mitch Marsh trains with Australia after he welcomes first child with wife Greta It’s been a big week for star WA all-rounder Mitch Marsh, who welcomed his first child with wife Greta just days out from the first Test of the *********** summer. The 33-year-old trained with the Test squad at the WACA on Monday morning, where it was revealed his partner had given birth to a baby girl on Sunday night. Marsh was exempt from media commitments so he could spend time with his family this week but will play against India when the Border-Gavaskar series gets underway at Optus Stadium on Friday. In the absence of fellow all-rounder Cam Green, who will miss the summer through injury, Marsh is expected to pick up extra overs during the five-match series against India. He was spotted bowling for the most of the 40-minute session. It comes as India captain Rohit Sharma will reportedly miss the first Test after he and his wife welcomed their second child on Friday night. The top-order batter is set to be available for the second Test in Adelaide which starts on December 6. Source link #Star #allrounder #Mitch #Marsh #trains #Australia #welcomes #child #wife #Greta Pelican News View the full article at [Hidden Content]

Apple Evaluating Development of Its Own TV Set Alongside Upcoming Smart Home Devices: Mark Gurman Apple Evaluating Development of Its Own TV Set Alongside Upcoming Smart Home Devices: Mark Gurman Apple is considering the development of its own TV set, according to details shared by Bloomberg journalist Mark Gurman. The possibility of an Apple-branded TV set was mentioned in his weekly Power On newsletter, where he discussed Apple’s purported smart home hub, which is said to arrive as a wall-mounted device. The Apple TV box (with tvOS) competes with similar devices that run on Android TV OS and ***** OS, but the company is yet to introduce its own TV set. Apple TV Set Could Compete With Offerings From Popular TV Manufacturers Gurman writes that Apple is “evaluating” the development of an “Apple-branded TV set” in his newsletter, which suggests that the company is at a very early stage. However, MacRumors points out that this is not the first time that word of Apple’s plans to make its own TV have surfaced online — the company was rumoured to be developing its own TV as early as 2009. Apple’s purported TV set would arrive as part of several smart devices being developed by the company, according to Gurman. The journalist previously revealed that the first of these devices would be a wall-mounted smart home hub that could control other devices and offer support for features like video calling. However, Gurman says that if the smart home hub fails, Apple could “rethink its smart home ambitions once again”. The company is said to be working on a more advanced version of the smart home hub, equipped with a robotic arm, that could arrive with a higher $1,000 (roughly Rs. 84,400) price tag. If the company is thinking of developing its own TV set, the company would face competition from several manufacturers such as Sony, Samsung, LG, and Sharp — these firms offer a range of TVs across price models, while Apple can be expected to introduce a model with high-end specifications. Apple’s TV set could also offer support for features available on its TV box that include Siri, HomeKit, and more. It’s currently unclear whether Apple will use the same operating system — tvOS — on the purported TV set. For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who’sThat360 on Instagram and YouTube. Apple’s AirTag 2 to Launch in 2025 With Better Chip, Privacy Improvements: Mark Gurman Source link #Apple #Evaluating #Development #Set #Upcoming #Smart #Home #Devices #Mark #Gurman Pelican News View the full article at [Hidden Content]

Resilient Aussies used the pandemic to brace for higher interest rates Resilient Aussies used the pandemic to brace for higher interest rates Aussie mortgage holders are in theory the most exposed to interest rates rises in the world, yet there is little evidence of a mortgage cliff, the RBA said. Source link #Resilient #Aussies #pandemic #brace #higher #interest #rates Pelican News View the full article at [Hidden Content]

Scientists Say This One Particular Diet May Slow The Decline of The Brain Scientists Say This One Particular Diet May Slow The Decline of The Brain While it’s not possible to stop the brain from aging – at least not yet – there might be ways to slow down its decline, and a new study shows the vital role blood sugar levels play in how rapidly the brain ages. The study is the work of an international team of researchers following up on a 2022 paper that looked at links between diet and brain atrophy. In the previous research, the Mediterranean diet, and particularly the green Mediterranean diet (more plants, less meat), were associated with less wear and tear on the brain. In this new study, the team wanted to examine some of the mechanisms that might be behind that association. They found a significant relationship between lower blood sugar level markers, and less of the brain shrinkage and neuron ****** that typically happens as we get older. “Maintaining low blood sugar levels, even within the normal range, shows promise for preserving a younger brain, especially when combined with a healthy diet and regular physical activity,” says senior author of the study and epidemiologist Iris Shai, from Ben-Gurion University in *******. Data was collected via magnetic resonance imaging ( MRI) brain scans of 224 participants, averaging around 51 years of age, and diagnosed as obese or having high levels of **** in their blood. Across the course of 18 months, they were split into three groups, and then put on a Mediterranean diet, a green Mediterranean diet, or a standard healthy diet. Given that slower brain aging was significantly associated with the Mediterranean diets (especially the green one), and lower blood sugar levels, it’s likely that all three factors are linked – with the previous 2022 study offering further supporting evidence. The researchers noticed that volunteers who consumed plenty of green tea and Mankai duckweed shakes as part of the green Mediterranean diet tended to show the least amount of brain tissue wear. That hints that there’s something about plant-based food that protects the brain. “Specifically, polyphenols found in plant-based foods may cross the blood-brain barrier and help reduce brain inflammation, which is crucial for memory,” says Shai. While we can’t infer direct cause and effect from the data, there’s a strong indication that Mediterranean diets are good for the brain – as shown by several past studies. Within that, it seems to be low sugar levels and high plant content that are the main driving forces. Brain aging is a natural part of getting older to some extent, but faster aging means we’re more at risk of cognitive decline and related neurological ********* at an earlier stage of life. Knowing more about why this happens puts us in a better position to be able to do something about it – like changing our diet. “This trial offers a safe approach to potentially slow down our brain aging – by adopting the components of a green Mediterranean diet,” says lead author of the study and epidemiologist Dafna Pachter, from Ben-Gurion University. The research has been published in the ********* Journal of Clinical Nutrition. Related News Source link #Scientists #Diet #Slow #Decline #Brain Pelican News View the full article at [Hidden Content]

Brendon McCullum: Key issues for England white-ball coach to address Brendon McCullum: Key issues for England white-ball coach to address As England built their world champion 50-over team in the years leading up to 2019, white-ball – and, in particular, 50-over – cricket was the priority. A year out from an away Ashes series, seen by many as the culmination of the Bazball journey the red-ball side have gone on under McCullum and Ben Stokes, that is not the case now. As a result, one of McCullum’s biggest challenges will be getting his best XI on the field in white-ball games – or even getting enough time with the players at his disposal to assess what his best XI actually is. It should come as no surprise that England’s white-ball results have dropped off at the same time as they have so regularly had to do without their Test stars. Joe Root, for example, has played just 28 ODIs in more than five years since the 2019 World Cup. In the 18 months prior to that tournament he played 35. The Yorkshireman was one of a number of Test players absent from the tour of the Caribbean, alongside Harry Brook, Ben Duckett, Jamie Smith and Gus Atkinson to name but a few. Then there is Ben Stokes: hero in England’s two most recent World Cup finals. He’s not played a limited-overs match for England since the 2023 World Cup but has said he will return to the fold if asked by McCullum. At 33, he ******** a match-winner with the bat at least – his last ODI wicket came in March 2021 – but given he is less than a year on from surgery on his knee and his importance as leader of the Test side, do England want to add to his workload? “The skipper and I haven’t spoken, but I’m assuming he’s all in. He seems like that sort of bloke,” McCullum said in September, perhaps hinting at the answer to that question. “He loves big moments and big stages.” Given that Duckett, Root, Brook, Stokes and Smith could quite conceivably make up five of England’s top seven in 50-over cricket, McCullum’s job of balancing rest for his Test players with playing time to establish roles within his white-ball side could be nigh-on impossible. A slightly more forgiving schedule in 2025 compared to previous years will help but, regardless, it seems likely that allowances will have to be made when it comes to three-format players such as Brook or, potentially, Jofra Archer. Source link #Brendon #McCullum #Key #issues #England #whiteball #coach #address Pelican News View the full article at [Hidden Content]

A primary school principal has been stood aside over a graphic **** ed class A primary school principal has been stood aside over a graphic **** ed class A primary school principal has been stood aside after Year 6 students received a graphic **** education class without their parents’ consent. Year 6 students at Illawong Public School in Sydney’s south allegedly told their parents they were asked to write down questions, which were read out and answered by a staff member in front of the class on November 7. The Daily Telegraph reported some of the questions related to a pornographic website and graphic ******* content. When parents complained to the staff member involved they were told they had given their consent through another independently run program at the school. The staff member allegedly told parents it was their intention to have a discussion in a safe space to end inappropriate discussions taking place in the playground. Camera IconMiranda MP Eleni Petinos told 2GB parents felt they had been left in the dark about what happened and wanted to know what was said to their children. NewsWire / Jeremy Piper Credit: News Corp Australia One parent told the newspaper they “did not give consent for this discussion and it was simply inappropriate.” “Parents are really ****** and also ****** at the responses from the school,” the parent said. “These topics are not in the school syllabus.” A NSW Education Department spokesperson said the principal has been directed to undertake other duties in the department outside of the school while an investigation took place following complaints from parents. A spokesperson said they expected their staff to deliver age-appropriate education aligned to the syllabus and in this case it did not happen. “We take the health, safety and wellbeing of our students very seriously,” a spokesperson said. “We apologise to the school community for the distress to their children.” Camera IconIllawong Public School. Google Maps Credit: Supplied Miranda MP Eleni Petinos told 2GB parents felt like they been left in the dark about what happened and after finding out about the incident through the media. Ms Petino said parents wanted to know what specific topics were covered in the discussion and what follow up actions were taken to ensure the emotional wellbeing of the students involved. “I was getting detailed emails from parents telling me how troubled and distressed they were to realise some of their very shy children, who have no access to social media, were exposed to these types of discussions,” she said. “When pressed at home they were unable to communicate with their parents about any of these topics.” The MP said the school needed to be transparent with the community about what transpired, and if they were unwilling to do that, then the minister needed to ensure the department gave that direction. “The most concerning thing was while the department reported counselling was available to students at the school, parents said it was only offered to a select number of students,” she said. “I am still receiving emails from parents telling me that they are not getting any information about their children’s wellbeing and what has happened at that school,” she said. Camera IconMinister for Education Prue Car said a [staff member] had been stood aside while the Department of Education’s professional ethical standards unit investigated the incident. NewsWire / Gaye Gerard Credit: News Corp Australia Education Minister Prue Car said what happened at the school was not on. “The [staff member] has been stood aside, the activities are subject to an investigation by the Department of Education’s professional ethical standards unit,” Ms Car said. “That is very serious and I will let that investigation take place.” Source link #primary #school #principal #stood #graphic #**** #class Pelican News View the full article at [Hidden Content]

Apple’s AirTag 2 to Launch in 2025 With Better Chip, Privacy Improvements: Mark Gurman Apple’s AirTag 2 to Launch in 2025 With Better Chip, Privacy Improvements: Mark Gurman Apple’s AirTag 2 has been in the rumour mill for quite some time now. As we wait for Apple’s official confirmation, Bloomberg’s Mark Gurman has claimed that the company is preparing to release its second-generation smart tracker next year. It is said to come with an updated design and a new wireless chip. Apple is expected to build some privacy improvements into its next AirTag. The company released the AirTag in April 2021. The device, which sparked privacy concerns, has not received any hardware updates since then. Apple’s AirTag 2 Is Coming in 2025 Bloomberg’s Mark Gurman, in this weekly Power On newsletter, claimed that Apple was gearing up to launch the AirTag 2 around the “middle of next year.” The new device, codenamed B589, is reportedly “progressed in manufacturing tests” and the iPhone maker is preparing to bring it to market. The AirTag 2 would likely sport a similar design to the current model but reportedly offer better range and an upgraded onboard wireless chip. The current model has an Ultra-Wideband (U1) chip and the second-generation model is expected to use a U2 chip with improved connectivity, Gurman added that Apple would bring some privacy improvements to the next-generation AirTag, including making it more difficult for someone to remove the speaker from the tracker. First-generation AirTag has had issues with privacy since its launch and has been misused for stalking. Apple’s decision to adopt privacy-focussed changes for AirTag 2 will likely address those concerns. “Apple is contending with lawsuits over the device, and it’s in everyone’s interest to make the new model more tamper-proof,” Gurman said in his newsletter. Apple will reportedly also launch a new smart home display alongside the next-generation AirTag next year. The company is also said to release updated versions of the iPad Air, entry-level iPad, MacBook Air, Mac Pro, Mac Studio, and iPhone SE in 2025. Apple is also expected to refresh the iPhone, Apple Watch and MacBook Pro lineup next year. The first generation AirTag was released in April 2021 with a price tag of Rs. 3,190 for a single piece and Rs. 10,999 for a pack of four. It has an IP67-rated build and a built-in speaker. For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who’sThat360 on Instagram and YouTube. Oppo Reno 13 Series Launch Date Set for November 25; Tipped to Feature MediaTek Dimensity 8300 Chipset Source link #Apples #AirTag #Launch #Chip #Privacy #Improvements #Mark #Gurman Pelican News View the full article at [Hidden Content]

International manhunt launched for husband of Harshita Brella after body found in boot of car International manhunt launched for husband of Harshita Brella after body found in boot of car An international manhunt is under way for the husband of a woman who was murdered and found in the boot of a car. Northamptonshire Police has named Pankaj Lamba as the prime suspect in the ******* of 24-year-old Harshita Brella, from Corby. On Sunday, the force said: “We believe he has now fled the country.” Here is what we know, and don’t know, about the case. Pankaj Lamba. (PA) What we know Northamptonshire Police was contacted on Wednesday by a member of the public concerned for Brella’s ********. Officers went to her home in Skegness Walk, Corby, but got no answer. A missing persons investigation was launched and her body was found in the boot of a car in Brisbane Road, Ilford, east London, in the early hours of Thursday. A post-mortem examination established she had been murdered. Harshita Brella’s body was found in a car on Brisbane Road, Ilford, east London. (Google Maps) Then, on Sunday evening, Chief Inspector Paul Cash said at a press conference: “Our inquiries lead us to suspect that Harshita was murdered in Northamptonshire earlier this month by her husband Pankaj Lamba. “We suspect Lamba transported Harshita’s body from Northamptonshire to Ilford by car. “We believe he has now fled the country.” The force released images of Lamba and urged anyone with any information that may assist inquiries – “no matter how small” – to contact it. More than 60 detectives are now working on the case. A photo issued by issued by Northamptonshire Police of Pankaj Lamba. (PA) Police have also confirmed Brella had previously been the victim of domestic *********, and in early September was made subject of a Domestic ********* Protection Order (DVPO) at Northampton Magistrates’ Court. It was reported the DVPO banned the perpetrator of the ********* from visiting Brella’s workplace. What we don’t know Northamptonshire Police has made a mandatory referral to the Independent Office for Police Conduct (IOPC) because of previous contact between it and Brella. However, it hasn’t given any further details about that previous contact and what it entailed. It is also not known how she *****. While a post-mortem examination revealed she had been murdered, police have not revealed any further details about her injuries or what detectives believe happened in the run-up to her ******. Northamptonshire Police said a member of the public had raised concerns for the 24-year-old’s ******** ahead of her body being discovered, but we don’t know what these concerns were and who that person was. Meanwhile, it is not known which country Lamba has fled to. Source link #International #manhunt #launched #husband #Harshita #Brella #body #boot #car Pelican News View the full article at [Hidden Content]

Family welcome inquest into ******* backpacker ******* Family welcome inquest into ******* backpacker ******* A long-awaited inquest into the ******* of a young ******* backpacker in Northern Ireland 36 years ago is expected to take place. The body of Inga Maria Hauser, 18, from Munich was found in Ballypatrick Forest, Ballycastle, in 1988. No-one has ever been charged in connection with her ********. Claire McKeegan, who represents the Hauser family, said the inquest would be “the first full examination of the facts in the tragedy” of the *******. A preliminary hearing is due to be held in Belfast later on Monday. Ms Hauser went missing after arriving in Larne on a ferry from Scotland in April 1988. Her body was found two weeks later. In 2020, the Public Prosecution Service confirmed that two individuals reported in connection with the ******* would not be charged. It followed the submission of a file from police. Police said at the time that they remained committed to bringing those responsible for the young student’s ******** to justice. Ms McKeegan said Ms Hauser’s family, including her sister Friederike and her nephew Viktor, were “seeking justice and truth”. “Since Inga’s brutal ******* in 1988, her family back in Germany have been desperate for the truth as to what happened to her that night, who inflicted this cruelty on her and why those responsible have not been brought to justice,” she told BBC News NI. “Sadly her parents are not alive to see this day. The pain that they endured in the aftermath of Inga’s ****** was indescribable and all-consuming. “This inquest will be the first full public examination of the facts in the tragedy of her *******.” Ms Hauser’s mother ***** in 2019 and her father in 2006, never knowing what happened to their daughter. The late SDLP politician, John Dallat, campaigned for years to keep a spotlight on the case. Ms McKeegan said the Hauser family was grateful for the public support over the years, and in particular to Mr Dallat “for keeping Inga’s case in the public eye as the years went on and the case went cold”. Source link #Family #inquest #******* #backpacker #******* Pelican News View the full article at [Hidden Content]

WA Police say no trouble so far as leavers gear up for first official night of celebrations in Dunsborough WA Police say no trouble so far as leavers gear up for first official night of celebrations in Dunsborough Police say school leavers who have descended on the South West have so far stayed out of trouble as celebrations properly kick off on Monday night. Source link #Police #trouble #leavers #gear #official #night #celebrations #Dunsborough Pelican News View the full article at [Hidden Content]

China’s Huawei starts taking pre-orders for Mate 70 smartphone China’s Huawei starts taking pre-orders for Mate 70 smartphone BEIJING (Reuters) -China’s Huawei Technologies on Monday announced that it had started taking pre-orders for its Mate 70 smartphone model, in a statement on its official WeChat account. It will also hold an event for the Mate brand on Nov. 26, it said in a separate statement, where it is expected to unveil its latest smartphone line-up. The company’s online store on Monday started allowing users to reserve the Mate 70 and two pro versions without requiring a ********. The website did not disclose prices. Huawei returned to the 5G premium smartphone market last year with its Mate 60 phones that have domestically produced semiconductors. The phones have been celebrated in China as a triumph over U.S. sanctions that have, since 2019, prevented the company from accessing advanced U.S. chips and other technology. (Reporting by Joe Cash; Additional reporting by Brenda Goh; Editing by Himani Sarkar and Eileen Soreng) Source link #Chinas #Huawei #starts #preorders #Mate #smartphone Pelican News View the full article at [Hidden Content]

PS5 At Four Years Later PlayStations Dominance Continues PS5 At Four Years Later PlayStations Dominance Continues After four years, Sony’s eighth-generation console continues to dominate, delivering incredible first and third-party exclusives. Source link #PS5 #Years #PlayStations #Dominance #Continues Pelican News View the full article at [Hidden Content]

Albany trainer Steve Wolfe, jockey Tash Faithfull secure winning trebles in Albany Racing Club season opener Albany trainer Steve Wolfe, jockey Tash Faithfull secure winning trebles in Albany Racing Club season opener Albany jockey Tash Faithfull and leading local trainer Steve Wolfe each scored winning trebles at Albany Racing Club’s opening meeting of the season on Saturday. The dynamic pair successfully combined twice on their way to three wins each on a gusty afternoon at Percy Spencer Racecourse for the seven-race card. They celebrated their first win of the day in the West Cape Howe Maiden (1240m) when Faithfull steered $6.50-priced Jellybean Jones to victory, a half-head ahead of Daniel and Ben Pearce’s fast-finishing Written Sin ($7). Camera IconJockey Tash Faithfull and trainer Steve Wolfe combined to win with Jellybean Jones. Credit: Laurie Benson The duo then combined again in the Albany Stockfeeds Handicap (1100m), handing Wolfe his hat-trick when Tash Faithfull saluted with $3.70 favourite Avoidance to keep plenty of punters happy. Wolfe’s second win of the day came after Chris Nicoll rode $51 outside Dodge ‘Em to a spectacular victory in the Monty’s Leap Handicap (1100m), saluting by a short neck ahead of Samantha Faithfull’s $2.70-favourite Flick The Switch, ridden by her daughter Tash Faithfull. However the mother-and-daughter duo did savour victory together when Tash Faithfull netted her third win in the final race of the day, triumphing with promising five-year-old mare Beautiful Baroque ($2.60) who claimed the race by a nose to the Pearce-prepared Manhattan Strip. Camera IconAlbany hoop Tash Faithfull scored a winning treble on opening day. Credit: Laurie Benson Rebecca Bayliss took out the feature race of the day when Invincible Power ($2.60) saluted in the $40,000 Regional Championship Heat: Road to Ascot (1240m) with Kyra Yuill aboard. Yuill edged out the Faithfull duo’s Vonsnip ($2.80) by short half-head, with the chasing field more than four lengths behind. Indianna Weinert secured victory in the ABA Security Handicap (1500m) with Austin Galati-steered Playin’ Hardball and trainer Misty Bazeley’s $11 roughie Pingers was guided to victory by Chanel Cooper in the 1000m maiden to start the day. Camera IconAlbany Racing Club held its first race meeting for the 2024/25 Great Southern racing season after the first scheduled meeting was transferred to Narrogin. Austin Galati wins with the Indianna Weinert trained Playin’ Hardball in the 1500 metre ABA Security Handicap. Laurie Benson Credit: Laurie Benson The meeting that officially kicked off the Great Southern racing season was run at Percy Spencer Racecourse with the rail out 6m and the track was rated a Good 3. Apprentice Amy Jo Hayes was reprimanded by stewards for not wearing the correct colours in race five and hoop Alex Hearn was fined $200 for whip breach in race three on Image Of Pro, using his whip four more times than permitted prior to the 100m. Source link #Albany #trainer #Steve #Wolfe #jockey #Tash #Faithfull #secure #winning #trebles #Albany #Racing #Club #season #opener Pelican News View the full article at [Hidden Content]

Some ***** Americans who voted for Trump are concerned about his picks for key positions Some ***** Americans who voted for Trump are concerned about his picks for key positions LANSING, Mich. (AP) — Just a week after winning a majority of the vote in several of the nation’s largest *****-majority cities, President-elect Donald Trump has filled top administration posts with staunch ******* supporters, including an ambassador to ******* who has claimed “there is no such thing as Palestinians.” Meanwhile, the two Trump advisers who led his outreach to ***** Americans have not secured positions in the administration yet. The selections have prompted mixed reactions among ***** Americans and Muslims in Michigan, which went for Trump along with all six other battleground states. Some noted Trump’s longstanding support for ******* and said their vote against Vice President Kamala Harris was not necessarily an endorsement of him. Others who openly supported him say he will be the final decisionmaker on policy and hope he will keep his promise of achieving an end to the conflicts in the Middle East. Albert Abbas, a Lebanese ********* leader whose brother owns the Dearborn, Michigan, restaurant Trump visited in the campaign’s final days, stood beside the former president during that visit and spoke in support of him. Now, Abbas says it’s “too early” to judge Trump and that “we all need to take a deep breath, take a step back and let him do the work that he needs to do to to achieve this peace.” “I just want you to think about what the alternative was,” said Abbas, referring to the current administration’s handling of *******’s war in Gaza and its invasion of Lebanon. He added, “What did you expect from myself or many members of the community to do?” Beyond promising peace in the Middle East, Trump has offered few concrete details on how he plans to achieve it. His transition team did not respond to a request for comment. Throughout the campaign, his surrogates often focused more on criticizing Harris than outlining his agenda. And visuals of the conflict — with tens of thousands of deaths collectively in Gaza and Lebanon — stirred anger among many in ***** and ******* communities about President Joe Biden and Harris’ backing of *******. Amin Hashmi, a Pakistani ********* in Michigan who voted for Trump, urged him to stay true to his campaign commitments to bring peace. “I am disappointed but not surprised,” said Hashmi, who urged Trump to “keep the promise you made to the people of ***** descent in Michigan.” Trump picks what pro-******* conservatives call a ‘dream team’ Those in the community with concerns have specifically pointed to former Arkansas Gov. Mike Huckabee, nominated as Trump’s ambassador to *******. Huckabee has consistently rejected the idea of a ************ state in territories seized by *******, strongly supported ******** Prime Minister Benjamin Netanyahu and opposed a two-state solution, claiming “there really isn’t such a thing” as Palestinians in referring to the descendants of people who lived in Palestine before the establishment of *******. While Huckabee has sparked the most concern among community members, other Trump Cabinet picks have strongly spoken in *******’s favor as it targets ****** following the militant group’s Oct. 7, 2023, ******* in which it ******* 1,200 Israelis and took hundreds more as ********. Florida Sen. Marco Rubio, nominated for secretary of state, has opposed a ceasefire in the war, stating that he wants ******* to “******** every element of ****** they can get their hands on.” Trump’s pick to be his ambassador to the ******* Nations, New York Rep. Elise Stefanik, led the questioning of university presidents over antisemitism on campuses. She has also opposed funding for the U.N. Relief and Works Agency, which oversees aid to Gaza. The *********** ******* Coalition, which organized for Trump in Michigan, has been outspoken in its support for many of Trump’s Cabinet picks. Sam Markstein, the group’s political director, described the proposed lineup as a “pro-******* dream team,” adding that “folks are giddy about the picks.” He praised Trump’s pro-******* record as “second to nobody.” “The days of this mealymouthed, trying to have support in both camps of this issue are over,” Markstein said. “The way to secure the region is peace through strength, and that means no daylight between ******* and the ******* States.” No roles yet for key figures in Trump’s ***** ********* outreach Among the reasons some ***** ********* voters supported Trump was that they believed his prominent supporters would be key in the next administration. Massad Boulos, a Lebanese businessman and father-in-law of Trump’s daughter Tiffany, led efforts to engage the ***** ********* community, organizing dozens of meetings across Michigan and other areas with large ***** populations. Some sessions also featured Richard Grenell, former acting director of national intelligence, who was well-regarded by those who met with him. Neither Boulos nor Grenell has been tapped yet for the coming administration, though Grenell was once considered a potential secretary of state before Rubio was selected. Boulos declined to comment and Grenell did not respond to a request for comment. “Some people expected Trump to be different and thought Massad would play a significant role,” said ****** Siblani, publisher of the Dearborn-based ***** ********* News, which declined to endorse a candidate in the presidential race. Siblani himself turned down a suggested meeting with Trump after the non-endorsement announcement. “But now people are coming to us and saying, ‘Look what you’ve done,’” Siblani said. “We had a choice between someone actively ********* and ******** you and someone threatening to do so. We had to punish the person who was ********* and ******** us at the time.” ___ Associated Press writers Mike Householder in Detroit and Meg Kinnard in Columbia, South Carolina, contributed to this report. Source link #***** #Americans #voted #Trump #concerned #picks #key #positions Pelican News View the full article at [Hidden Content]

Shire of Denmark readies itself for rapidly approaching bushfire season with ***** safety weekend Shire of Denmark readies itself for rapidly approaching bushfire season with ***** safety weekend Denmark prepared itself for the upcoming ***** season in a family-friendly weekend event designed to educate and entertain the community about ***** safety. The bushfire-ready weekend, now in its third year, ran from November 1 to 3 including expert workshops, activities, and a bushfire brigade skills competition that readied the Denmark community for the rapidly approaching ***** season. Shire of Denmark president Kingsley Gibson said the weekend demonstrated the readiness of the community. “It was really well supported in that the brigade actually gained quite a number of new members from the weekend display in Strickland Street, and they felt really supported by the community,” he said. “We’re very well aware of the risks in a drying climate, of having such a high percentage of our land area covered in forest. “We also have the highest number of bushfire ready groups of any local government — so it shows that people are aware and are keen to be prepared.” Camera IconDenmark Volunteer ***** and Rescue Service showing off their hose skills. Credit: Emily Harper Source link #Shire #Denmark #readies #rapidly #approaching #bushfire #season #***** #safety #weekend Pelican News View the full article at [Hidden Content]

Shrouded in smog, Delhi pollution reading is the highest this year Shrouded in smog, Delhi pollution reading is the highest this year NEW DELHI (Reuters) – A thick blanket of toxic smog engulfed most parts of northern India on Monday and readings of air quality in the capital New Delhi hit their highest this year after dense fog overnight. The smog, a toxic blend of smoke and fog, happens each year in winter as cold air traps dust, emissions, and smoke from ******** farm fires in some surrounding states. Visibility dropped to 100 m (109 yards) in Delhi and Chandigarh, a city northwest of the capital, but authorities said flights and trains continued to operate with some delays. India’s pollution control authority said the national capital territory’s 24-hour air quality index (AQI) reading was at 484, classified as “severe plus”, the highest this year. According to Swiss group IQAir’s live rankings, New Delhi was the most polluted city in the world with the air quality at a “hazardous” 1,081 and the concentration of PM2.5 – particulate matter measuring 2.5 microns or less in diameter that can be carried into lungs, causing deadly ********* and cardiac issues – was 130.9 times the World Health Organisation’s recommended levels. Experts say the scores vary because of a difference in the scale countries adopt to convert pollutant concentrations into AQI, and so the same quantity of a specific pollutant may be translated as different AQI scores in different countries. Delhi authorities directed all schools to move classes online and tightened restrictions on construction activities and vehicle movements, citing unfavourable meteorological conditions and low wind speed. Farm fires – where stubble left after harvesting rice is burnt to clear fields – have contributed as much as 40% of the pollution in Delhi, SAFAR, a weather forecasting agency under the ministry of earth sciences has said. Satellites detected 1,334 such events in six states on Sunday, the most in the last four days, according to India’s Consortium for Research on Agroecosystem Monitoring and Modeling from Space. Despite the polluted air, many residents continued their daily routines. Many buildings were barely visible, including Delhi’s iconic India Gate. “Morning walk usually feels good, but now the air is polluted and we’re forced to wear a mask… There is a burning sensation in the eyes and slight difficulty in breathing,” Akshay Pathak, a resident of the city told the ANI news agency, in which Reuters has a ********* stake. India’s weather department has forecast “dense to very dense fog” for the northern states of Uttar Pradesh, Haryana and Rajasthan for Monday. (Reporting by Tanvi Mehta, Editing by Kate Mayberry) Source link #Shrouded #smog #Delhi #pollution #reading #highest #year Pelican News View the full article at [Hidden Content]

Police taskforce charges 54 Cairns youths with 220 offences in week-long youth ****** crackdown Police taskforce charges 54 Cairns youths with 220 offences in week-long youth ****** crackdown Taskforce Guardian worked with Cairns Police on a week-long operation to disrupt, prevent and investigate youth ****** in the area. Source link #Police #taskforce #charges #Cairns #youths #offences #weeklong #youth #****** #crackdown Pelican News View the full article at [Hidden Content]

Teen with modified ******* arrested outside downtown Austin bar Teen with modified ******* arrested outside downtown Austin bar AUSTIN, Texas – A 17-year-old was arrested and charged with multiple felonies after he allegedly tried to get into a downtown Austin bar with a handgun. Xavier Sistrunk has been charged with third-degree felony places weapons prohibited, third-degree felony possession of a prohibited ******* and state-jail felony possession of a controlled substance, according to an arrest affidavit. Court paperwork says that around 1:30 a.m. on Nov. 12, an Austin police officer was flagged down by bar staff in the 400 block of E. 6th Street about someone trying to get in with a handgun in his waistband. Bar staff there turned him away after overhearing him talking to a friend about having the **** and the friend telling him to “just go put it in the car.” Staff described the person as a ****** male wearing a red hooded sweatshirt with white numbers on the back who was last seen walking down E. 6th Street towards Trinity Street. The officer, while talking to staff, noticed someone matching that description walking out of another bar. Staff then confirmed to the officer that that was in fact the person they believed to have the ****, court paperwork says. Xavier Sistrunk " loading="lazy" width="960" height="540" decoding="async" data-nimg="1" class="rounded-lg" style="******:transparent" fifu-data-src="[Hidden Content] ****** COVERAGE The person, later identified by police as Sistrunk, was seen by officers walking along E 6th then crossing at E 6th and Trinity while the crosswalk sign displayed a red hand for stop. Officers initially detained him for that, announcing themselves as police and taking hold of him. Officers in the affidavit state that Sistrunk “immediately tensed up and dropped his hands down towards his front waistband and began reaching for something in the area.” Officers gave commands for him to “stop reaching” but Sistrunk continued to pull away and reach for his waistband, court paperwork says. An officer reported tackling Sistrunk to the ground and detaining him with handcuffs, before searching him and finding a handgun tucked in his underwear. The **** was identified as a Glock .40 caliber ******* that had been modified with a “Glock switch” to make it automatic, says the affidavit. A plastic bag with 0.6 grams of ******** was also found in Sistrunk’s pocket, court paperwork says. Source link #Teen #modified #******* #arrested #downtown #Austin #bar Pelican News View the full article at [Hidden Content]

G20 confronts a global order troubled by Trump’s return G20 confronts a global order troubled by Trump’s return Leaders of the Group of 20 major economies are meeting in Brazil for their annual summit, bracing for a shift in the global order with the return to power of US president-elect Donald Trump. Discussions of trade, climate change and international security will run up against sharp US policy changes that Trump vows upon taking office in January, from tariffs to the promise of a negotiated solution to the war in Ukraine. While US President Joe Biden arrives as a lame duck with just two months remaining in the White House, China’s President Xi Jinping will be a central player at a G20 summit riven with geopolitical tensions amid the wars in Gaza and Ukraine. “It’s not only geopolitics that is causing us concern, but also that China’s role, its economic and financial role, is very prominent in many issues,” said a ******* official, who requested anonymity to discuss the diplomatic tensions freely. While China has been in Russia’s camp on Ukraine, Germany believes Beijing will find that position ******* to sustain as the conflict has become “globalised” with Russia’s deployment of North Korean troops bringing it “to China’s doorstep”, another official said. Diplomats drafting a ****** statement for the summit’s leaders have struggled to hold together a fragile agreement on how to address the escalating Ukraine war, even a vague call for peace without criticism of any participants, sources said. A massive Russian air strike on Ukraine on Sunday shook what little consensus they had established, with ********* diplomats pushing to revisit previously agreed language on global conflicts. The ******* States responded to the Russian ******* by lifting prior limits on Ukraine’s use of US-made weapons to strike deep into Russia. Brazilian officials recognised that their agenda for the G20, focused on sustainable development, taxing the super-rich and fighting ******** and hunger could soon lose steam when Trump starts dictating new global priorities from the White House. Brazil’s push for a reform of global governance, including multilateral financial institutions, might also hit roadblocks with Trump, Brazilian officials said. “Trump has no appreciation for multilateralism. I don’t see many possibilities of a Trump administration engaging in these issues or showing any interest in them,” a source at Brazil’s finance ministry told Reuters on condition of anonymity. Xi is expected to tout China’s Belt & Road initiative as it exerts its economic ascendancy. Brazil has declined to join the global infrastructure initiative, but hopes are high for other industrial partnerships when Xi wraps his stay in the country with a state visit in Brasilia on Wednesday. Brazil’s decision not to join was “a big ***** to relations,” said Li Xing, professor at the Guangdong Institute of International Strategies, affiliated with China’s Ministry of Foreign Affairs. “China was very disappointed,” he said. Trade talks around the G20 will be stoked by concerns of an escalation in the US-China trade war, as Trump plans to slap tariffs on imports from China and other nations. Trump’s tax-cutting verve will add to headwinds for Brazil’s efforts to discuss taxation of the super-rich, an issue dear to Brazil’s President Luiz Inacio Lula da Silva who put it on the G20 agenda. Trump’s newest ally in ****** America, libertarian Argentine President Javier Milei, has already drawn a red line on the issue. Argentina’s negotiators refused to approve mention of the issue in the summit’s ****** communique, diplomats said. Source link #G20 #confronts #global #order #troubled #Trumps #return Pelican News View the full article at [Hidden Content]

With $1.4 Million at 59, Can I Cover $5k Monthly Expenses in Retirement? With $1.4 Million at 59, Can I Cover $5k Monthly Expenses in Retirement? SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. When thinking about whether you’re financially prepared to retire or not, you’ll want to think about it in a certain way. You have a lifestyle that you would like to maintain, and a portfolio that can safely generate a specific amount of income each year. Once your costs and means overlap, you can afford to retire. Here, we have $1.4 million in assets and $5,000 in monthly expenses. Depending on your personal situation, this type of portfolio may last through retirement with proper planning and if you can supplement it with enough Social Security income, but the ******* question is if you should you retire before 60. Do you have specific questions about retirement? Speak with a financial advisor today. At age 59, you’ll retire six years early and eight years early by Medicare and Social Security standards, respectively. This raises several issues, all of which will shift your retirement costs. For the sake of this example, let’s say that on average someone in their 60s can expect to live until around age 87. This has given rise to the standard 4% rule of retirement planning. Anticipating 25 years of withdrawals lets a 67 year old retiree plan for their average life expectancy with some room for happy error. If you retire at 59, you may want to plan, using this example, for more like 35 years-plus of withdrawals to cover the same room for error. In that case, you will probably want to plan for annual withdrawals in an amount less than 4%. The earliest you can plan on taking Social Security is age 62, but doing so would lock in reduced benefits for life. To collect “full” Social Security benefits, you will need to wait until age 67, and to collect maximum benefits you will have to wait until 70. This will increase the amount you need to withdraw from your portfolio as you wait for benefits to kick in. You will become eligible for Medicare at age 65. Between now and then, you will need to pay for your own health insurance. This will add to your monthly costs, meaning you should plan for more like $5,500 per month, on top of the standard gap insurance and long-term care insurance that most retirees need to anticipate. Finally, the longer you spend in retirement, the more you will need to anticipate inflation. Ideally, you can build an investment strategy that helps your portfolio cope with rising prices, or, at least for as long as the portfolio lasts. Story Continues However, this may remain an issue since, at a modest 2% inflation rate, prices will fully double over the course of a 30-year retirement. This issue grows even more acute if you live in an expensive city, where prices and rents rise more quickly than national averages. Consider using this free tool to match with a financial advisor who can help you run the math in your situation. This question assumes this person holds $1.4 million in assets, but the nature of those assets makes a big difference. For example, do you hold all of this money in a retirement account or in a non-tax-advantaged portfolio? Does a large percentage of this net worth include your home, and if so, do you plan on selling it? All of this matters because some asset classes are more liquid than others. Indeed, if you’re like many people, you might not want to include your home equity in this plan at all, because it might not be practical to convert into useful cash. And if you hold these assets in tax-advantaged retirement accounts, you cannot retire until age 59.5 without potentially encountering penalties (though you can avoid this with the rule of 55). But for the sake of analysis, we will move forward assuming that this is $1.4 million in accessible portfolio holdings. Our first back-of-the-envelope math doesn’t look great. You’re 59 years old with (for ease of use) an 87-year life expectancy. Giving yourself a five-year margin of error, that means you’d need up to 33 years of portfolio withdrawals. Without assuming outsized portfolio returns, that gives you $3,535 per month in income. Now, the two questions here help account for portfolio returns and Social Security income. Social Security will supplement your income somewhat, but to make this plan work you will need above-average benefits. Specifically, you will need to collect about $2,000 per month in Social Security starting at age 67, which is the full retirement age for most. If you can plan on that, then you can withdraw $60,000 per year from your portfolio until age 67. That will draw you down to $920,000 in assets over eight years. At age 67, a 4% annual withdrawal from that remainder will generate $3,066 per month. From there, $2,000 in benefits per month will get you right back to that $5,000 goal. Portfolio returns, too, can help change the math on your retirement planning. But this portfolio isn’t quite generous enough to throw off the somewhat safe returns that will set you up for life. For example, you could invest for growth. According to Vanguard, a 60/40 portfolio of stocks and bonds has a solid chance to generate returns of around 7% for 2024. If you hit that mark every year, reliably, you could in theory draw down $98,000 each year in pure returns. That could give you a strong retirement outlook well beyond your needs, but nothing is ever guaranteed with the stock market. But that’s a very big if, because you would need to manage the volatility of an equity-heavy portfolio. Right now your plan doesn’t contain that margin for error, which means that trying to live off portfolio’s returns is a big risk. Consider speaking with a financial advisor about the right investment and withdrawal strategy for your retirement goals. A potentially safer option could be to wait. For example, let’s take that 7% returns projection again. Say that you keep your portfolio invested in a 60/40 mixed collection of bonds and stocks generating 7% annually. If you wait until just age 64, you could retire with nearly $2 million in the bank. By full retirement age at 67, you could have $2.4 million. At age 59, can you retire with $1.4 million in assets on hand? The answer is, maybe, but you should really think it through. This would likely be a tight retirement without much room for error, and you’re not many years away from affording a comfortable retirement with plenty of security. A financial advisor can help you build a comprehensive retirement plan. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. You really can retire early, but you’ll need to start planning in advance. Check out SmartAsset’s guide on how to retire early to learn more. Keep an emergency fund on hand in case you run into unexpected expenses. An emergency fund should be liquid — in an account that isn’t at risk of significant fluctuation like the stock market. The tradeoff is that the value of liquid cash can be eroded by inflation. But a high-interest account allows you to earn compound interest. Compare savings accounts from these banks. Are you a financial advisor looking to grow your business? SmartAsset AMP helps advisors connect with leads and offers marketing automation solutions so you can spend more time making conversions. Learn more about SmartAsset AMP. Photo credit: ©iStock.com/zamrznutitonovi, ©iStock.com/gilaxia, ©iStock.com/andreswd The post I’m 59 With a $1.4 Million Net Worth and $5k in Monthly Expenses. Can I Retire Now? appeared first on SmartReads by SmartAsset. Source link #Million #Cover #Monthly #Expenses #Retirement Pelican News View the full article at [Hidden Content]