Marcus & Millichap | How Global Forces Affect the U.S. Commercial Real Estate Market

watch: How Global Forces Affect the U.S. Commercial Real Estate Market

CNN US | 3 men plead guilty to defrauding seniors out of more than $350,000 in ‘Grandparent Scam,’ officials say

(CNN) – Three men pleaded guilty to defrauding 14 Rhode Island seniors out of more than $350,000 in what authorities described Tuesday as a “Grandparent Scam.”

“Few things are more frightening than thinking a family member is in trouble,” U.S. Attorney Zachary A. Cunha said in a news release. “These defendants exploited that fear to steal from loving grandparents and line their own pockets.”

Bryan Valdez-Espinosa, 22, Diego A. Alarcon, 22, and Jason Hatcher, 40, appeared before a federal judge in Providence and admitted to participating in the scam, Cunha said.  –read more–

F1 | Sainz converts pole into maiden Grand Prix victory at Silverstone after scintillating race

Ferrari’s Carlos Sainz has claimed his first Formula 1 victory after a breath-taking contest at the British Grand Prix, the Spaniard finishing ahead of the Red Bull of Sergio Perez and the Mercedes of Lewis Hamilton.

Key to Sainz’s victory was a late Safety Car caused by Esteban Ocon retiring his Alpine – Sainz then attacking team mate Charles Leclerc on fresh tyres at the restart to claim P1 and check out for his first win on his 150th Grand Prix start.  –read more– 

watch: Race Highlights | 2022 British Grand Prix

F1 | Sainz pips Verstappen to take maiden pole in wet British Grand Prix qualifying

A masterful lap in a wet British Grand Prix qualifying saw Ferrari’s Carlos Sainz claim his maiden pole position in Formula 1, as he beat the Red Bull of Max Verstappen, who’d led much of the session.Rain had begun falling on Silverstone just minutes before qualifying began, with Verstappen comfortably heading both Q1 and Q2. Verstappen was then leading Q3 in the final moments when Sainz unleashed his final lap to stop the clocks at 1m 40.983 and take P1 with an effort he described in disbelief as “terrible”. On the weekend of his 150th Grand Prix start, though, terrible did very nicely indeed.  –read more–

watch: Qualifying Highlights | 2022 British Grand Prix

Marcus & Millichap | Early Signs of Housing Price Recalibration as Higher Interest Rates Stunt Affordability

Prospective buyers deterred by decade-high mortgage rates. The Fed increased its overnight rate for a third time this year in mid-June to a target range of 1.50 to 1.75 percent, an aggressive response to persistent inflation as the Consumer Price Index climbed at its fastest pace in over 40 years in May. The Fed messaged its intent to continue lifting rates to temper inflation in the coming months, likely sustaining upward pressure on the cost and criteria to obtain a home mortgage. The average rate for a 30-year fixed-rate mortgage in the U.S. soared to 5.8 percent in the second half of June, up more than 250 basis points from the start of this year and the highest register since 2008. With home prices still at historic levels, this has presented another hurdle for potential buyers, leading to a notable slowdown in sales activity.  –read more– 

CNN | Emmett Till’s family calls for justice after finding an unserved arrest warrant in his case

(CNN) – Family members of Emmett Till, the 14-year-old Black teen whose murder in the Jim Crow South spurred the civil rights movement in America, say they have unearthed an unserved arrest warrant for the White woman who accused him of making advances toward her, sparking the events that led to his death nearly 70 years ago.

“I cried. We cried. We hugged,” Deborah Watts, Emmett’s cousin, told CNN of the moment she said members of the Emmett Till Legacy Foundation found the warrant in a dusty, dank box in a county courthouse in Greenwood, Mississippi. “Unbelievable. We held each other. Justice has to be served.”  –read more–  

F1 | What tyres will the teams and drivers have for the 2022 British Grand Prix?

Pirelli have nominated the three hardest tyres in their range for this weekend’s 2022 British Grand Prix at Silverstone.

F1’s official tyre suppliers will allocate the same range of tyres that were last used for the Spanish Grand Prix, with the teams set to be able to call upon the hard C1 (x2 sets), the medium C2 (x3 sets), and the soft C3 compounds (x8 sets) for Silverstone.  –read more–  

CNN SPACE+SCIENCE | Microwave-size spacecraft launches to test new orbit between Earth and the moon

(CNN) – A tiny spacecraft with big implications for lunar exploration has launched.

The miniscule satellite, called a CubeSat, is about the size of a microwave oven and weighs just 55 pounds (25 kilograms), but it will be the first to test out a unique, elliptical lunar orbit. The CubeSat will act as a pathfinder for Gateway, an orbiting lunar outpost that will serve as a way station between Earth and the moon for astronauts.

The orbit, which is called a near rectilinear halo orbit, is very elongated and provides stability for long-term missions while requiring little energy to maintain — which is exactly what the Gateway will need. The orbit exists at a balanced point in the gravities of the moon and Earth.  –read more–  

CNN BUSINESS | Elon Musk says he’s worried about keeping Tesla out of bankruptcy

New York (CNN Business) – Tesla faces billions of dollars in losses from its new plants, supply chain problems and Covid lockdowns — enough for CEO Elon Musk to mention the possibility of bankruptcy in a recent interview.

“The past two years have been an absolute nightmare of supply chain interruptions, one thing after another,” Musk said in an interview with a Tesla owners group. “We’re not out of it yet. That’s overwhelmingly our concern is how do we keep the factories operating so we can pay people and not go bankrupt.”

Musk engaged in hyperbole elsewhere in the interview, and he may have been doing so when mentioning the risk of bankruptcy. For example, he said that automakers in general “desperately want to go bankrupt,” which falls in the category of colorful language rather than strict financial analysis. –read more–  

CNN BUSINESS | Netflix lays off 300 employees as bad year continues to hit company

New York (CNN Business) – Netflix is laying off 300 employees in the midst of a rough year for the streaming giant.

“While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth,” a company spokesperson told CNN Business Thursday. “We are so grateful for everything they have done for Netflix and are working hard to support them through this difficult transition.”

Thursday’s layoffs impact around 3% of Netflix’s workforce, which includes 11,000 full-time employees. The layoffs are also mostly taking place in the United States. Variety was the first to report the news.  –read more–