Immo Gironde http://immo-gironde.com/ Tue, 21 Jun 2022 21:11:40 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://immo-gironde.com/wp-content/uploads/2021/05/immo-gironde-icon-150x150.png Immo Gironde http://immo-gironde.com/ 32 32 6 GreenTech startups based in Switzerland on piloting climate action https://immo-gironde.com/6-greentech-startups-based-in-switzerland-on-piloting-climate-action/ Tue, 21 Jun 2022 21:11:40 +0000 https://immo-gironde.com/6-greentech-startups-based-in-switzerland-on-piloting-climate-action/

Switzerland is committed to promoting environmentally friendly, resource-efficient and innovative products, processes and technologies. To do this, it will support pilot projects and demonstrations, as well as programs aimed at increasing the efficiency of Swiss companies through a technology promotion fund (approximately 4.2 million Swiss francs per year). As a result, several Swiss start-ups are increasingly focusing on environmental and economic benefits. It’s admirable how these 6 Swiss-based GreenTech startups are driving climate action.

SUSI Partners

SUSI Partners, one of the Swiss-based GreenTech startups based in Bahnhofplatz, Zug, is an infrastructure fund manager founded by Otto Troschke and Tobias Reichmuth. The company invests in sustainable energy infrastructure. The company’s investment strategy focuses on capital and credit opportunities across the energy transition spectrum, including clean energy generation, energy efficiency measures, energy storage and integrated solutions. SUSI Partners, which has invested over €1 billion in more than 140 transactions in 20 countries, aims to provide its clients and their beneficiaries with excellent risk-adjusted returns while contributing significantly to carbon neutrality. world.

Energy Thun AG

Based in Thun, Bern, Switzerland, Energie Thun AG is an energy efficiency company founded in 2001. Energie Thun AG supplies natural gas and electric vehicles. Energie Thun AG stands for reliable, ecological, efficient and innovative energy and water supply in the Thun region. The core business of Energie Thun AG is the construction and operation of supply infrastructure, the supply/production and sale of electricity, gas, heat and water as well as the provision services to businesses, individuals and the public sector. Through its own regional production, participation in production facilities and supply cooperations, Energie can offer high quality energy and water at competitive prices. Energie Thun AG plays a role model in environmental matters and actively contributes to the implementation of the environmental and energy policy objectives of the Confederation, the canton and the city of Thun.

Techem

Techem, based in Urdorf, Aargau, Switzerland, is one of the world’s leading providers of energy services for the real estate sector. Techem is a leading service partner for green and smart buildings. Techem focuses on energy efficiency throughout the real estate value chain. Techem promotes a healthy lifestyle, process efficiency and climate protection. More than 39 million devices and solutions avoid approximately 8.7 million tonnes of CO₂ per year. Techem works on solutions for a successful energy transition in buildings. With digitally networked solutions and devices, Techem can reduce energy consumption, increase efficiency and generate renewable energy in all sectors.

Climeworks

Climeworks is the developer of carbon removal technology designed to capture carbon dioxide from the air. Climeworks’ technology is fully automated and controlled via a touchscreen and is suitable for stand-alone operation. Using mostly low-grade heat as an energy source, its direct air capture facilities absorb CO2 with a filter. Commercial agriculture, food processing, energy and automotive are just some of the activities where pure CO2 gas is sold. For example, soft drinks or hydrocarbon-based fuels and materials can be made from this atmospheric CO2. As a result, the company helps its customers achieve their environmental goals by reversing their emissions and storing CO2 safely. Founded in 2009, on April 5, 2022, the company received 600 million Swiss francs in a private equity round supported by Swiss RE, Partners Group, M&G Investments, Global Founders Capital, GIC, Carbon Removal Partners, Big Point Holdings, Baillie Gifford, and John Doerr.

Gruter Hans

Oberkirch, Luzern, Switzerland Grüter Hans is an energy efficiency company founded Founded by Hans Grüter with a small workshop in Buttisholz in 1971. The family business, led by Reto Grüter in the 2nd generation, carries out heating, sanitary, ventilation projects , and solar technology and never loses sight of the latest innovations and the pulse of time. Reto Grüter took over the management of the company in November 2000. Grüter Hans stands for quality workmanship and a wide range of services. From consulting to planning, execution and maintenance work, we offer everything from a single source. Even in an emergency, Grüter Hans does not let its customers down. Its 24-hour emergency service is always ready to deal with an emergency. Grüter Hans wants to protect the environment: save energy, properly dispose of old materials and build environmentally friendly systems.

Polygale

Among the 6 GreenTech startups based in Switzerland, we also have Polygal, based in Märstetten, Thurgau, a family business founded in 1956 with tradition and vision. Polygal AG is today a world leader in the research and use of vegetable hydrocolloids for various industrial applications. In addition to its Swiss factory, it has factories in Pakistan, China and Spain. For the sake of sustainable production and respecting the company’s environmental responsibility, most raw materials are extracted where they are transformed. High quality standards, extensive expertise and global orientation make Polygal a reliable and customer-focused global player in the field of hydrocolloids. For more than 60 years and in more than 70 countries, Polygal has stood for high quality standards and expertise in application technology. Polygal stands for: Autonomy and independence, Reliable relationships, Promotion of education and training, Sustainable products, Quality advice, Environmental awareness and climate protection.

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Five Ways Rising US Rates Will Affect You https://immo-gironde.com/five-ways-rising-us-rates-will-affect-you/ Tue, 21 Jun 2022 01:58:34 +0000 https://immo-gironde.com/five-ways-rising-us-rates-will-affect-you/

The US central bank announced its biggest rate hike in nearly 30 years as it intensifies its battle to rein in soaring consumer prices, the BBC reported.

He raised the rate the Federal Reserve asks banks to borrow by three-quarters of a percentage point.

The consequences will be felt in almost every corner of the economy – in the United States and abroad.

Here are five ways rising US rates will affect you.

More expensive mortgages and other loans

The immediate impact is in the United States, where people will face higher borrowing costs for mortgages, credit cards, student loans and other debt.

The average rate on the popular 30-year fixed home loan has already climbed to almost 6% – its highest level since 2008. For someone buying a median-priced home in the US, that means monthly payments have risen. of about $600 since the start of the year.

“I wish I had started looking sooner,” says Delores Robinson, a retired educator from Ohio, who bought a new apartment this month.

Ms Robinson says she was relieved to lock in a relatively low rate, although it is higher than it was when she began her search. But for some buyers the rate hike will make shopping out of reach, according to the BBC.

The National Association of Realtors expects US home sales to fall 9% this year.

This drop may seem painful for those prevented from buying, but it is also expected to slow price growth to 5% in 2022, after double-digit gains in recent years.

If that happens, it will help lower inflation, a sign that the Fed’s measures are working.

Smaller guesthouses and more expensive Uber rides

When rates take off, it tends to cause a drastic reshuffling of investments. And with the rise of general economic concerns, these movements have been particularly pronounced.

For those with money in the stock market, such as people with 401k retirement accounts, this has resulted in a sharp drop in the value of their investments.

The S&P 500 has fallen more than 20% since early January – a stage known as the bear market – while the Nasdaq has lost almost a third of its value.

Risky assets, like cryptocurrencies, also saw their prices plummet, and exchanges outside the United States were also affected, the BBC reported.

Investment firms are also retreating from riskier ventures, demanding profitability from companies like Uber that have operated at a loss for years.

This means that people are likely to face higher prices for things like taxi rides and deliveries – or see these companies fold, as has been the case for a number of start-ups that have emerged in New York promising 15-minute races.

“In times of uncertainty, investors seek security,” Uber boss Dara Khosrowshahi wrote in a letter to staff last month about steps the company would take to try to improve its bottom line, including by slowing down hiring. “Clearly the market is experiencing a seismic shift and we need to respond accordingly.”

Slowdown in the labor market and risk of recession

As demand cools, it ends the boom in the post-pandemic labor market, which has seen companies compete fiercely for workers, allowing new hires to earn higher wages and jobs. other perks and encouraging many to change jobs for better.

Real estate giants Redfin and Compass this week announced plans to cut their workforces by the hundreds this week, citing slowing and rising rates.

A slew of big companies like Uber, including Amazon, Walmart, Tesla and Spotify, have also announced plans to slow down or halt hiring.

US central bank chief Jerome Powell said he hoped the economy would avoid massive job losses, noting that the US labor market remains very tight – with job openings nearly doubling looking for a job, according to the BBC.

But the economy was already facing challenges, with inflation increasing business costs and reducing the purchasing power of citizens.

Growth has already contracted in the first three months of the year. And while that was blamed on a quirk in international trade data, other indicators, like retail sales, have started to darken.

As higher rates come up against a weakening economy, analysts say the bank risks causing a long-lasting downturn, also known as a recession.

stronger dollar

The US dollar has risen 10% this year as Fed decisions prompting investors to transfer money to America in search of higher yields, which has boosted demand for its currency.

For Americans planning trips to places like the UK, where the value of a pound fell below $1.20 this week – its lowest since the pandemic – it’s a silver lining.

But elsewhere, the rising US currency means more expensive imports of commodities like energy and food, which are often traded in dollars. This adds to economic stress, especially if a government holds a lot of dollar debt.

Emerging markets tend to be the markets most at risk of suffering,” says Fiona Cincotta, market analyst at City Index.

Higher rates abroad

This dynamic means that the United States does not walk in a vacuum.

Dozens of other countries have also announced rate hikes in recent months, including the Bank of England in Switzerland. Australia and Canada.

Many are fighting their own battles against inflation. But they are also inspired by what is happening in the world’s biggest economy, the BBC reported.

In places like Kuwait and Saudi Arabia, where currencies are pegged to the dollar, the impact of US rate hikes is almost immediate, with banks advancing at the same pace as they try to contain a outflow of funds to the United States.

As these moves begin to be felt on the ground, economic history in the United States will continue to be closely watched.

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Houston Academy grad starts auto detailing business to avoid student loans https://immo-gironde.com/houston-academy-grad-starts-auto-detailing-business-to-avoid-student-loans/ Mon, 20 Jun 2022 22:21:00 +0000 https://immo-gironde.com/houston-academy-grad-starts-auto-detailing-business-to-avoid-student-loans/

DOTHAN, Ala. (WTVY) – On the corner of Fortner Street and Stonebridge Road you will find Kam’s Car Care.

“I detail everything outside and inside the car, I can shampoo the carpets, clean the stains”, explains Kameryn Mitchell.

Mitchell’s summer business venture is her ticket to no student loans next year.

“Trying to chart your own path, instead of looking to your mom, dad or grandparents for a gift,” says Mike Palmer, Kameryn’s father. “He always wanted to work. He always wanted to have his.

The young automotive designer remains focused on the finished product.

“I like to see the before and after,” says Mitchell. “I like seeing a dirty car and then being able to clean it up and make it look better for my customers.”

Raising almost $2,000 in just three weeks, he thinks his price is right.

Mitchell continues, “Big companies will charge around $100, $150 just for a Sudan or things like that, but I wanted to go to the cheaper side so I could get more customers.”

His commitment sets him apart.

“If I see something that other people have to turn down because they don’t think they can clean it up, I feel like I have the dedication to spend time on things like that and put the details in to do it,” Mitchell said. .

The intense heat didn’t stop Mitchell from reaching his goal of $6,000.

He even cleaned a boat, and this week he’s going to clean the exterior of an airplane.

Mitchell plans to attend Troy University in the fall.

If you would like to support Kam’s Car Care, call (334) 718-6739 to schedule an appointment.

Copyright 2022 WTVY. All rights reserved.

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Toyota celebrates its fifth consecutive victory at the 24 Hours of Le Mans https://immo-gironde.com/toyota-celebrates-its-fifth-consecutive-victory-at-the-24-hours-of-le-mans/ Mon, 20 Jun 2022 07:27:00 +0000 https://immo-gironde.com/toyota-celebrates-its-fifth-consecutive-victory-at-the-24-hours-of-le-mans/

Dubai, United Arab Emirates – GAZOO Racing recently claimed victory at the 90th 24 Hours of Le Mans to extend its winning streak to five straight wins at the legendary Circuit de la Sarthe. Sebastien Buemi, Brendon Hartley and Ryo Hirakawa rode a brilliant race in the #8 GR010 hybrid electric hypercar, completing 380 laps to take the checkered flag in front of an enthusiastic crowd.

The team’s fourth one-two finish at the iconic event was completed by last year’s winners Mike Conway, Kamui Kobayashi and José María López in the #7 GR010 Hybrid Electric Hypercar, which crossed the finish line. arrived just 2 minutes and 1.222 seconds behind in second place. Buemi’s fourth victory sets a new victory record for Swiss drivers, while Hartley’s third triumph makes him the most successful New Zealand driver at Le Mans.

The two GR010 hybrid electric hypercars outclassed the field throughout and fought a close battle up front, the lead changing hands several times as the race ebbed and flowed with traffic, slow-moving areas and the evolution of the track. The contest continued for 16 hours, with the two cars only seconds apart for most of that time.

The face of the race changed decisively on lap 256 when Buemi took the lead in the #8 GR010 Hybrid Electric Hypercar following an extended pit stop by José María López in the #7 GR010 Hybrid Electric Hypercar Brendon Hartley had the honor of passing the checkered flag to win the 90th 24 Hours of Le Mans, followed by López shortly after to complete a grueling 5,177km of racing. The result doubled the points towards the 2022 FIA World Endurance Championship, placing GAZOO Racing top of the constructors’ standings after three races.

Akio Toyoda, President and CEO of Toyota Motor Corporation, commented: “Congratulations to the #8 car and thank you to the #7 car for participating in this double! This year Le Mans was a 1-2 race from start to finish. From the start, for 16 hours, they competed, racing within seconds against each other. I would like to thank our six drivers. Additionally, Kamui also took on the role of Team Principal at Le Mans for the first time. I really appreciate him taking on such important roles.

Toyoda continued, “Building cars and building teams are endless battles, please continue to encourage a sense of teamwork. GAZOO Racing was able to win Le Mans five times in a row. Thank you to our many, many fans and partners who continue to fight together. I really appreciate all of your continued support.

Over the years, Toyota has participated in many forms of motorsport, including Formula 1, the World Endurance Championship (WEC) and the Nürburgring 24-hour endurance race. Toyota’s participation in these events was overseen by separate entities within the company until April 2015, when Toyota created GR to consolidate all of its motorsport activities under one internal brand. Representing Toyota’s belief that “roads build people and people build cars”, GR emphasizes the role of motorsport as a fundamental pillar of Toyota’s commitment to making “ever better” cars. Drawing on years of experience gained in the extreme conditions of motorsport events, GR aims to forge new technologies and solutions that bring freedom, adventure and driving pleasure to everyone.

The World Endurance Championship returns with the 6 Hours of Monza in Italy on July 10.

Race notes:

  • #8 GR010 Electric Hybrid Hypercar (Sebastien Buemi, Brendon Hartley and Ryo Hirakawa)
  • Position: 1st
  • Number of rounds: 380
  • #7 GR010 Hybrid Electric Hypercar (Mike Conway, Kamui Kobayashi and José María López)
  • Position: 2nd
  • Number of laps: 380 (+2 min 1.222 sec)

-Ends-

Toyota UAE Social Media Handles:

About Al-Futtaim Toyota

Toyota, a Japanese automaker founded in 1937, is the world leader in hybrid electric vehicle sales. Toyota is exclusively distributed in the United Arab Emirates by Al-Futtaim Automotive, part of the Al-Futtaim Group, for more than six decades, and has been leading the sustainable mobility movement since 2008.

With a wide range of vehicles ranging from SUV, compact, sedan, coupe, minivan and LCV, as well as a wide range of hybrid options, Al-Futtaim Toyota is setting new benchmarks for clean automobiles with the aim of contributing actively to a lower carbon footprint in the UAE. 2017 saw the introduction of the zero-emission hydrogen fuel cell electric vehicle (FCEV) Toyota Mirai, as part of a pilot project to explore the possibilities of establishing a hydrogen-based, zero-carbon society.

Toyota’s lineup includes several hybrid vehicles, including the sporty, practical and eco-friendly RAV4, the C-HR, an innovative compact SUV, the seven-passenger Highlander which is the brand’s largest HEV to date, the powerful Corolla and efficient and the sleek and sophisticated Camry.

In September 2019, after 17 years of waiting, Al-Futtaim Toyota launched the new 2020 Toyota GR Supra in the United Arab Emirates, much to the delight of fans and devotees across the country. With the all-new fifth generation model, the legendary name has returned to set the roads ablaze with a return uniquely suited to the history of the Toyota Supra, with the 2021 version launching a year later in October 2020.

In August 2020, Al-Futtaim Toyota shook up the lifestyle pickup segment with the introduction of the all-new eighth generation Toyota Hilux Adventure. This was the first time the Hilux was available as a retail model in the UAE, meaning it is no longer limited to dominating the commercial-use sector.

For more information and to book a test drive of the latest Toyota models, visit www.toyota.ae

About Al-Futtaim Automotive

Al-Futtaim Automotive, one of the five main operating divisions of the UAE-based Al-Futtaim Group of Companies, is a conglomerate of automotive-related businesses, franchising some of the world’s most recognized automotive brands and services .

Present in 10 countries in the Middle East, Asia and Africa and with around 9,000 associates, the group’s services, headquartered in the United Arab Emirates, cover the distribution of new and used vehicles, manufacturing, rental and after-sales.

Ranging from passenger cars to SUVs, utility vehicles, industrial and construction equipment as well as motorcycles and quads, Al-Futtaim Automotive Group provides an integrative customer-centric experience for motorists, fleet operators and contractors, and strives to become the leader in made-to-measure. tailor-made mobility solutions.

About Al-Futtaim Group

Founded in the 1930s as a trading company, Al-Futtaim is today one of the most diverse and progressive private regional companies, headquartered in Dubai, United Arab Emirates.

Structured into five operational divisions; automotive, financial services, real estate, retail and healthcare; Employing over 35,000 people in over 20 countries across the Middle East, Asia and Africa, we partner with over 200 of the world’s most admired and innovative brands.

Al-Futtaim’s entrepreneurial spirit and unwavering customer focus allows the organization to continue to grow and develop; meet the changing needs of our customers within the societies in which we operate.

By defending our values ​​of respect, excellence, collaboration, integrity; Al-Futtaim continues to enrich the lives and aspirations of our customers every day. For more information visit: www.alfuttaim.com

Media contacts:
Hajar Al Suwaidi | Retail Marketing Manager| Hajar.AlSuwaidi@alfuttaim.com
Nour Aboulaban | Gambit Communications | nour@gambit.ae

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777 Capital Partners takes over asset management of a serviced apartment building in central Munich and secures NUMA as a long-term tenant https://immo-gironde.com/777-capital-partners-takes-over-asset-management-of-a-serviced-apartment-building-in-central-munich-and-secures-numa-as-a-long-term-tenant/ Mon, 20 Jun 2022 05:30:00 +0000 https://immo-gironde.com/777-capital-partners-takes-over-asset-management-of-a-serviced-apartment-building-in-central-munich-and-secures-numa-as-a-long-term-tenant/

Issuer: 777 Capital Partners AG / Keyword(s): Real Estate
20.06.2022 / 07:30
The issuer is solely responsible for the content of this announcement.

777 Capital Partners takes over asset management of a serviced apartment building in central Munich and secures NUMA as a long-term tenant

  • 777 Capital Partners signs a contract for the asset management of a modern serviced apartment building in Rosenheimer Strasse

  • Apartment complex comprising 55 rooms with a gross leasable area of ​​approximately 1,500 square meters

  • NUMA Group signs a long-term lease for the entire property

Baar-Zug (Switzerland), June 20, 2022. 777 Capital Partners AG (777 Capital Partners) is taking over the asset management of a serviced apartment building with 55 rooms and approximately 1,500 square meters of lettable space in a central location in Munich. The property belongs to the Swiss family office W5 Group. With regard to the building in Frankfurt, 777 Capital Partners was able to secure the international NUMA Group (NUMA) as a long-term tenant. NUMA took over the operation of the Rosenheimer Strasse serviced apartment from former operator JOYN on June 1st.

Thomas Landschreiber, partner and co-founder of 777 Capital Partners: “We are taking over the asset management of a promising serviced apartment complex in an absolutely prime location. Furthermore, I am pleased with the conclusion of the lease agreement long-term with NUMA, as we extend our proven cooperation in Munich.”

The 55 apartments rented from NUMA are functional but furnished to a very high standard. All accommodation features a seating area with a flat-screen TV and a private bathroom with a shower. Some apartments also have a kitchenette with dishwasher and hotplates. The building is located at the intersection of Rosenheimer Strasse and Anzinger Strasse, right next to the booming district of Berg am Laim. In the direct surroundings of the property there are currently many new neighborhood developments – including the Macherei and the Werksviertel – with modern workplaces and a wide range of restaurants. Additionally, the property is well served by public transport, including the nearby Ostbahnhof train station with direct connections to Munich Airport.

Press inquiries
Agency

Jan Hutterer
Telephone: +49 172 346 2831
jan.hutterer@kirchhoff.de

Company
Marcus Dickopf
Mobile: +49 69 99 888 12
Mr. dickopf@777capital.com

About 777 Capital Partners SA

777 Capital Partners AG (777 Capital Partners) is a Baar-based investment manager and co-investor founded by Ralph Winter, Thomas Landschreiber and Micha Blattmann. As a boutique value-added investment specialist and co-investor for real estate in the DACH region, 777 Capital Partners offers its investors solid expertise in investment services and asset management through a team of specialists with many years of experience. The company has an additional office in Frankfurt/Main. 777 Capital Partners is registered in the commercial register of the canton of Zug.

For more information, visit our website www.777capital.com or our LinkedIn.

About NUMA Group

Berlin-based NUMA is one of Europe’s leading operators of serviced apartments for modern travellers. As a trusted partner for investors, owners and developers in the real estate industry, NUMA uses proprietary technology-based operating solutions that largely automate operational processes and increase profitability and revenue. NUMA successfully operates over 3,000 units in European A cities including Berlin, Frankfurt, Munich, Rome, Milan, Madrid, Barcelona and Vienna.

https://partner.numastays.com

Dissemination of a Corporate News, transmitted by the DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

DGAP distribution services include regulatory announcements, financial/corporate news and press releases.
Archive at www.dgap.de

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Medical school grad worked part-time with $360,000 loan debt https://immo-gironde.com/medical-school-grad-worked-part-time-with-360000-loan-debt/ Sat, 18 Jun 2022 13:41:46 +0000 https://immo-gironde.com/medical-school-grad-worked-part-time-with-360000-loan-debt/
  • The student loan repayment break is currently set to expire at the end of August.
  • Joshua McGough, a medical resident with $366,000 in debt, said he was ready to start paying off his loans.
  • McGough said despite the loans, he still had to work part-time as a medical student to make ends meet.

After graduating from medical school in May, Joshua McGough still has more than $360,000 in student loan debt despite having done ‘the unheard of’ to survive financially and having worked part-time throughout his graduate studies.

McGough, 27, told Insider that the student loan payment and interest break has been helpful in saving his family some extra cash, but he’s working to restart payments if the extension expires. in August. Biden administration officials hinted that the break could be extended.

The conversation about student loan repayments and potential forgivenesssaid McGough, failed to mention that for many people in the medical field or at the university level, the loans don’t just pay for tuition, but for day-to-day living expenses, which means they can get accumulate quite quickly.

“Medical student loans tend to be generally for single people (people) who usually live with roommates and not for me because I’m married and have a 10-month-old child. So even the loans that the government tends to grant don’t cover all the expenses required to be a graduate student and a medical student,” McGough said.

He added: “Like I had to work part-time during my medical studies, which is almost unheard of. I had so many needs for money other than tuition, and that’s in sort of where the system is insufficient for students like me.”

McGough said he was lucky to have two part-time remote positions where he could work his own hours, but he knows medical students who graduate and have to work as delivery drivers, which , according to him, is difficult with rising gasoline prices.

He manages social media platforms for the dermatology department and helps a company run webinars for students entering medical school.

“Fortunately, I was able to work in positions that relied on my medical knowledge, instead of like when I was in college. Like walking dogs. I was a nanny for a while. Just just do anything to make money and just pay the rent and all that,” he said.

McGough told Insider that while he thinks he’ll be fine financially in the long run and the current loan cancellation proposals will not affect his loans other graduates need more support.

“The $10,000 for everyone wouldn’t really help me that much when I’m looking at $360,000. However, there are people who have large debts that won’t have the earning potential that I will. as a doctor” he said.

McGough said he supports canceling restoration loans for people with the highest debt-to-income ratios and those who need them the most. Several governors and legislators, including Maryland Governor Larry Hogan offered more small-scale efforts this would provide more support for those who had more debt relative to their income.

McGough has laid out a plan in which he expects to be able to repay his loans in a decade, but says there is no certainty, especially as the economy changes. The costs of having a child and the current economic climate have caused her family to reconsider when they can have another child.

McGough says that ultimately there needs to be better financial literacy so teens who take out loans to go to school know and understand the economic burden that comes with it.

“I don’t think there’s enough financial education,” he said, adding that as the only member of his family to become a doctor, he was unaware at age 17 of the long-term financial impact of student loans.

For now, McGough is focused on getting his payments restarted, and while he’s confident his profession of choice will help him repay those loans, he said there should be some common ground for find a solution that would help other borrowers.

“I think if we start understanding that a lot of us made these decisions when we were kids and now that we’re all paying the price, that’s a common ground that we can all build on. Okay,” he said.

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How to Honor Family Legacy While Building Generational Wealth According to a Barron’s Top 100 Advisors https://immo-gironde.com/how-to-honor-family-legacy-while-building-generational-wealth-according-to-a-barrons-top-100-advisors/ Fri, 17 Jun 2022 20:00:00 +0000 https://immo-gironde.com/how-to-honor-family-legacy-while-building-generational-wealth-according-to-a-barrons-top-100-advisors/ Joanne Zhong, Senior Vice President of

UBS

‘ Zhong Wealth Management Group in San Francisco, was a stranger to Western customs when she moved from Shanghai to the United States at the age of 10. Today, with her multicultural background and more than 15 years in wealth management, she is well equipped to help ultra-high net worth international clients bridge the cultural gap on everything from family values ​​to complex tax matters. She and her four-person team manage $2.4 billion for just 17 Asian clients living in the United States or overseas. Clients have assets, and in some cases family members, based in the United States

Barron’s: Can you describe your practice and your clients?

Joanne Zhong: Our priority was to work with Chinese executives who were listing their companies in the United States. But fewer Chinese companies are listed in the United States. They choose to list on the Hong Kong stock exchange or in China. So my practice has changed in recent years. I focus on fewer clients as a bespoke family office. Our customers are all from mainland China, Taiwan or Hong Kong. Most are rich for the first time. We have several in the healthcare, pharmaceutical, and semiconductor industries.

Our assets under management have changed a lot lately. At the end of last year it was $4.2 billion, and today it is closer to $2.4 billion. This is due to a huge focus we have with a small number of founder and executive clients of publicly traded companies.

Learn more in Top 100 Advisors

What are the unique complexities of your clients’ finances?

Often one generation of a family still lives in another country and the second or third generation lives in the United States. So we have to manage the transfer of assets between two or sometimes three jurisdictions. There are tax issues from top to bottom and there is no single model for all client situations.

A client recently purchased an art masterpiece and she owns many homes between the United States and China. She wanted to know the optimal place from a fiscal point of view to hang her masterpiece. One prospect is a successful venture capitalist in China whose children are US citizens. She wanted to know the easiest way to structure her estate. I said, “You’re about to be extremely rich, and the easy may not be what you want.”

What cultural dynamics come into play?

One of the complexities is that of family values. We help our clients ask themselves the question: how do we pass the values ​​on to the next generation when the youngest members of the family live in the United States?

This is a universal challenge that immigrant families face. Having moved to the United States at a young age, I can often relate to where older and younger generations are coming from. The desire for young people to better understand and honor their heritage is often already there – generations just need a facilitator. It’s a long-term effort that can include formal family gatherings, spending time with family in person, and creating opportunities like travel, philanthropy, and workshops for the next generation to engage with their family. culture and their peers.

Key data

  • Team assets
    $2,355 million
  • Typical account size
    $50 million
  • Typical net worth
    $100 million

How do you use your team and resources to meet the complex needs of your customers?

My team is so great, with different ages, backgrounds and experiences. Diversity helps broaden our perspectives, and it’s also important because our customers see a part of themselves in us. They feel our shared experiences.

Our clients’ complexities exemplify all that UBS offers. We have resources here and beyond, in Hong Kong and Switzerland, for example. If a client has cross-border planning needs, I bring in two tax experts from UBS, one for US taxes and one for non-US taxes.

What is your approach to investing? What kinds of changes have you made to wallets recently?

Although we do not change our general investment plan, during our quarterly meetings with clients, we reflect on the investment themes to act on, knowing that we can be wrong. But we make sure that if we’re wrong, it’s only part of a portfolio, and if we’re right, we’ve got a nice hedge.

The theme we started talking about at the beginning of last year was inflation. To

Costco
,

the price of meat was rising. The price of wood was rising. We’ve told our customers that inflation is a genie in the bottle – once out it’s hard to put it back on.

What changes have you made to the theme of inflation?

We added exposure to private real estate. The idea is that in an inflationary environment, you are able to adjust rents, and rents were likely to go up. Our private real estate investment trusts performed very well from both an income and total return perspective. This alternative bucket served the function of being a truly uncorrelated asset class at all that went wrong. This is the best performing part of our portfolios this year.

What is your team dynamic?

We laugh a lot. There are four of us and I have a funny way of describing our roles. For example, Danyi Gu, who was born in Shanghai, studied in Germany and immigrated to the United States, is our main problem solver. Veronica Wang, who helps clients with everything from access to private aviation to art collections, is our Director of Experience.

Do you also have an alternate title?

I like to think of myself as a family doctor, calling on the best specialists when needed.

Are there any changes you adopted during Covid that have stuck?

During Covid, I instituted a policy that if I didn’t hear from a client during the week, I would call on Friday. I continue to do so. I want every customer to feel like they are my only customer.

Where do you see your practice in five years?

Last year was our best year. So the question is how to maintain this level of excellence and grow? I don’t have the right answer yet. I recently graduated as a family office consultant at UBS, and I’m working with the UBS family office group to explore this question. Part of the answer is to be efficient and focus on the things we do really well.

Thanks Joanna.

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E-mail: rankings@barrons.com

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June 16 Live Updates: US Mortgage Rates Rise Biggest Since 1987, EU Leaders Support Ukraine’s EU Candidate Status https://immo-gironde.com/june-16-live-updates-us-mortgage-rates-rise-biggest-since-1987-eu-leaders-support-ukraines-eu-candidate-status/ Thu, 16 Jun 2022 22:10:16 +0000 https://immo-gironde.com/june-16-live-updates-us-mortgage-rates-rise-biggest-since-1987-eu-leaders-support-ukraines-eu-candidate-status/

New jobless claimants in the United States fell from the previous week, a sign that the labor market remains tight.

There were 229,000 initial jobless claims on a seasonally adjusted basis in the week to June 11, according to US Department of Labor data released Thursday. The figure was down from the previous week’s upwardly revised 232,000 claims, but exceeded the median forecast of 215,000 claims in a Reuters poll of economists.

Thursday’s report showed the pace of new claims increased the most in California, Texas, New York, Illinois and Ohio, based on unadjusted preliminary numbers.

“The latest data suggests some sectors may see an uptick in layoffs amid growing concerns about inflation, sentiment and the outlook,” said Mahir Rasheed, US economist at Oxford Economics.

The labor market remained warm and the unemployment rate stabilized at 3.6% in May, which is close to its pre-pandemic level.

Tech groups, especially in the cryptocurrency sector, have reported a few layoffs recently.

Continuing unemployment claims, which measure the number of Americans actively receiving unemployment assistance, were 1.31 million in the week to June 4, an increase of 3,000 claims from the previous week.

Initial claims have increased in recent weeks, but continuing claims have remained near their lowest level in more than 50 years.

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How to Get the Best Rate on a Home Equity Loan https://immo-gironde.com/how-to-get-the-best-rate-on-a-home-equity-loan/ Thu, 16 Jun 2022 21:27:45 +0000 https://immo-gironde.com/how-to-get-the-best-rate-on-a-home-equity-loan/

If you’re a homeowner, you have a powerful weapon in your financial arsenal: the equity in your home. Leveraging your equity by taking out a home equity loan can give you access to money for home repairs, paying off high-interest debt, or buying a second home or business. an investment property. But to get the most out of your loan, you need to find the lowest interest rate possible. Here’s how.

Key points to remember

  • Home equity loans are secured by the equity you have built up in your primary residence.
  • Interest rates are generally based on the Federal Reserve Prime Rate, but may vary from lender to lender.
  • Shopping around can yield the best interest rates and terms for your home equity loan.
  • Improving your credit can help you get a better rate.

What is a home equity loan?

A home equity loan is a loan secured by the equity in your home. Unlike a home equity line of credit (HELOC), home equity loans typically take the form of a lump sum that you repay on a fixed repayment schedule of between five and 30 years.

When you apply for a home equity loan, lenders consider your credit score, your debt-to-equity ratio and, of course, the amount of equity you have accumulated in your current residence. Home equity loans are subject to the same types of closing costs as regular mortgages, such as origination fees, registration fees and appraisals. Once you are approved for a loan, you can use the proceeds for any purpose you wish.

Although home equity loans have considerably lower interest rates than credit cards, for example, their rates are generally higher than regular mortgage rates. This is because home equity loans are slightly riskier for the lender. If you default on your home loans and the property is subject to foreclosure, your primary mortgage will be paid off first and the foreclosure proceeds may be exhausted before your home equity loan is satisfied.

What determines the interest rate on your home equity loan?

Several factors affect home equity loan interest rates. Most lenders base their annual percentage rate (APR) on the prime rate set by the Federal Reserve, to which they add their own markup or margin. In deciding on a rate to offer you, they will also consider your particular situation. This may include your:

  • Debt-to-income ratio (DTI). Most lenders want to see a DTI below 43%. It shows that you are not overloaded.
  • Credit score. Aim for a credit score of 700 or higher. This demonstrates a responsible payment history and low credit usage. The higher your credit score, the better the rate you will likely be offered.
  • Loan-to-value ratio (LTV). This shows how much you owe on your main mortgage compared to the value of your home. If you have more than one loan, lenders will review your combined LTV. You can calculate your LTV by dividing your current loan balance by the appraised value of your home.

Important

If you choose a lender and you have doubts, you can cancel your transaction within three business days of signing the documents. If another lender offers a better offer in the ninth hour, this can be a valuable tool.

How to get the best rate

It may sound simple, but the best way to get the best rate is to compare multiple lenders. Although lenders generally base their annual percentage rate (APR) on the prime rate, many other factors, including individual lender fees, are incorporated into the final APR. So APR is the number you want to focus on.

If you currently have a mortgage, it may be a good idea to start with your current lender. Many banks or other lenders offer loyalty discounts to current customers to retain their business. This may take the form of a lower interest rate or the elimination of some of your closing costs, such as appraisal or application fees.

Beyond your current lender, plan to speak to at least three different lenders. Comparison purchases may take a little longer, but may result in a better rate or better terms. Let each lender know you’re shopping around and allow them to compete for the best terms and interest rates.

Just make sure you’re comparing apples to apples. If you are looking for a specific loan term, find out about the same term from all lenders. Sometimes loans with different terms will have different interest rates. But keep in mind that a long term at a lower interest rate can still cost you more money in the long run.

Am I required to disclose that I work with multiple lenders?

You don’t have to disclose this information, but it may encourage lenders to offer you their most attractive rates.

Do I need to have my home appraised for a home equity loan?

Most often, yes. Since your equity is determined by the current value of your home, it is essential that the lender knows the value of the property. In some cases, lenders may waive the appraisal if the home’s value can be determined by comparable home sales in the area or other very recent appraisals. If the lender requires an appraisal, they will usually do it and choose the appraiser. However, you will generally have to pay the expert’s fees.

Is interest on a home equity loan tax deductible?

It depends on how you use the money. Under current law, interest is only deductible if the loan proceeds are used to “purchase, construct or substantially improve the home of the taxpayer securing the loan,” the Internal Revenue Service said.

The essential

The interest rate is one of the most important features to look for in a home equity loan, and rates can vary from lender to lender. Talking to several lenders is the best way to find the best rate. Raising your credit score and lowering your debt-to-equity ratio will also make you more attractive to lenders, often resulting in a lower rate.

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BAC Rules on Liquidation, Real Estate Segment May Change https://immo-gironde.com/bac-rules-on-liquidation-real-estate-segment-may-change/ Wed, 15 Jun 2022 19:15:19 +0000 https://immo-gironde.com/bac-rules-on-liquidation-real-estate-segment-may-change/

The Insolvency and Bankruptcy Board of India (IBBI) has sought public comment for a series of amendments to India’s bankruptcy code, including a separate framework for dealing with insolvent property companies and allowing corporations, LLPs and partnerships to be hired by lenders to act as administrators of bankrupt companies.

IBBI is also working to streamline the current liquidation framework. The decision signals sweeping changes in the bankruptcy resolution framework as the government steps up its efforts to improve the rescue track record of bankrupt businesses.

In the case of the bankruptcy of real estate companies, IBBI has asked for suggestions on important aspects of public interest, such as the treatment of home buyers who have taken possession of the house and those who have not, in case the company’s rescue efforts fail, and the real estate company ends up going into liquidation. This is an important question as it relates to the rights of different homebuyers depending on their purchase status.

IBBI is also seeking comments on whether the role of the homebuyers’ authorized representative in the panel of creditors deciding the future of the bankrupt business needs to be rethought. Also, consider whether a bankrupt developer’s individual real estate projects require separate authorized representatives from homebuyers to serve on the creditors’ committee.

In a separate discussion paper, IBBI has proposed that incorporated entities such as corporations, limited liability companies (LLPs), corporations, trusts and any other entity established under any statute may be permitted to function as administrators or insolvency resolution professionals, overseeing the rescue of the bankrupt business and the management of its operations. Currently, the procedures only allow natural persons to act as directors, although the IBC allows incorporated entities to perform this role. The regulatory effort is to change IBBI regulations to make this practically possible. Mint announced on June 11 that incorporated entities would soon be allowed to run failed businesses. The IBBI said that although individuals act as insolvency professionals in many countries, Switzerland, Austria, the Czech Republic, Hungary and Spain allow entities to play this role.

“The entry of entities into the insolvency profession is envisioned to provide multi-pronged benefits to the insolvency landscape. On the one hand, it will institutionalize the insolvency profession; on the other hand, it will bring the benefits of a stronger governance system,” IBBI said. The regulator also explained that the move would address an individual’s limitations in performing a myriad of complex tasks. contribute to better conduct of processes due to their ingenuity, corporate governance and risk management mechanisms,” IBBI said. The deadline for giving suggestions is July 5th.

In a third discussion paper, the regulator also proposed procedural changes that will help complete the liquidation process within a specified time frame.

The IBBI said in a separate press release on Wednesday that it had amended regulations relating to corporate insolvency resolution. This allows operational creditors such as vendors to submit certain GST return forms and electronic bills of lading as proof of transaction with the defaulting debtor business to establish debt and default. This should help in the speedy admission of the bankruptcy case to court.

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