August 2024 - Page 59 of 93

Aug

16

2024

Exploring a quaint Italian apartment unoccupied for more than two decades: a personal journey.

In 2020, Kristina Knighten, 38, and her husband Paul Cordier, 46, finalized the purchase of their picturesque home overlooking Lake Iseo in Italy. They purchased this charming two-bedroom residence for €23,000 (approximately $24,973 USD). Describing their new home, Knighten shares with CNBC Make It, "It's the kind of house you picture as a kid, complete with a gable roof, center door, and quaint upstairs windows. It's ideally located, just steps from both the train station and the lake, and it almost seems too good to be true." The duo began the renovation in March this year, anticipating costs of around…

Aug

16

2024

By Lily Chang

Hurricane Ernesto hits Puerto Rico and rises to category 1

Politics

Hurricane Ernesto has had a severe impact on Puerto Rico, having been upgraded to a Category 1 hurricane upon landfall. The storm's strong winds and heavy rains have caused widespread power outages, affecting thousands of residents in Puerto Rico and the neighboring Virgin Islands. Local authorities are working tirelessly to restore power and provide relief to those hardest hit by the storm. While emergency services are mobilizing to address immediate needs, the broader implications of Ernesto’s passage are becoming clear. Roads are blocked by debris and several communities are reporting significant flooding, complicating relief and recovery efforts. The local government…

Aug

15

2024

By Lily Chang

Salt Lake City’s downtown transformation sparks debate

Culture and Entertainment

Smith Entertainment Group’s ambitious plan to revitalize downtown Salt Lake City has sparked heated public debate. The proposed project, which would require significant investment in the Delta Center and surrounding area, requires substantial zoning changes to move forward. While some residents and business owners express excitement about the potential economic benefits and increased entertainment options, others have concerns about the project’s impact on the city’s character and infrastructure. Key points of contention include proposed height restrictions, signage regulations and the potential impact on historic landmarks like Abravanel Hall. As the City Council weighs the pros and cons of the project,…

Aug

15

2024

By Lily Chang

UBS CEO cautious on U.S. economy amid market volatility

Investments and Business

UBS CEO Sergio Ermotti has been cautious about the potential for a U.S. economic recession, despite recent market turmoil. While acknowledging the possibility of a slowdown, Ermotti stressed the need for greater clarity on macroeconomic indicators before definitively predicting a recession. The banking giant expects more market volatility in the coming months, driven by factors such as the U.S. presidential election and ongoing geopolitical tensions. The Federal Reserve's monetary policy path also remains a key uncertainty, with UBS expecting a rate cut of at least 50 basis points this year. As the global economy faces these challenges, investors must prepare…