A Manhattan "Pool In The Sky" – For The Billionaire Who Has Everything Else
By Tyler Durden
If you have a lot of disposable cash, and a desire to go swimming 28 storeys above the Manhattan streets in a pool connecting two buildings, you're in luck.
Forget the Skycraper Index as a sign of an imminent top, the “Pool In The Sky” Signal may just have outdone it.
From ABC News
By next year, the wealthiest New Yorkers will be able to swim 300-feet in the air in a swimming pool suspended between two towers.
The 49-story American Copper Buildings will be completed next year at 626 First Avenue in Manhattan with a three-story skybridge. Residents in the copper-clad towers will have stunning views of the Empire State Building and East River. It will be the first major new skybridge in New York in 80 years, according to the developer JDS Development Group. Some of the wealthiest New Yorkers are expected to live in the 761 rental residences, though 150 apartments of those are set aside as affordable housing. Prices haven't been announced yet. The units range in size from studios to three bedrooms, the developers said. Over 5,000 copper panels make up the facade.
A 75-foot lap pool and a hot tub will be located on floor 28, one of three floors on the skybridge. A lounge and bar will take up part of the 29th floor.
If the skybridge pool isn't enough, there will be an infinity pool, outdoor shower, dining and grilling on the rooftop. The development will also have a fitness center with climbing wall.
Here is how the developer, JDS Development Group, describes the project:
The dancing copper towers redefining the East River. American Copper Buildings, designed by collaborators SHoP Architects, presents two bold and dynamic residential towers on New York City’s East River. Clad in copper, the approximately 800-unit luxury rental community will reach 41 and 48 stories in height with an iconic sky bridge connecting the two towers. The development will feature an amenity package that will set a new benchmark for rental development, including an indoor lap pool and lounge in the sky bridge, a rooftop deck and infinity pool, fitness center, and spa. The dancing towers will bring energy and inspiration for future innovative growth in its neighborhood and along the East River. American Copper Buildings is currently under construction and slated for completion in early 2017. Construction is being managed by JDS Construction Group.
* * *
Just a word of caution to those who are picking up the phones right now to try and secure an apartment in the towers, make sure the developer will actually complete the project prior to going bankrupt.
On the 30th Anniversary Of Chernobyl, Here’s What We Are Still Not Being Told
By Tyler Durden
Submitted by Claire Bernish via TheAntiMedia.org,
On the 30th anniversary of the world’s worst nuclear catastrophe yet, a new report shows radioactive contamination from the 1986 explosion at Chernobyl in Ukraine still lingers in startlingly large amounts across the border in neighboring Belarus.
In an exclusive report by the Associated Press, fresh milk from a Belarusian dairy farm contained a radioactive isotope, traceable to the Chernobyl disaster, at “levels 10 times higher than the nation’s food safety limits” – thirty years after the accident occurred.
Though the AP turned to a laboratory to test the milk, dairy farmer Nikolai Chubenok called the results “impossible.”
“There is no danger,” Chubenok asserted to AP journalists at his farm, just 28 miles from the site of the 1986 explosion and meltdown. “How can you be afraid of radiation?”
Though Chubenok and the Belarusian government — itself notoriously authoritarian and intent on denying the dangers still present — might insist on the area’s safety, other reports from doctors and scientists paint the landscape in a vastly different light.
Belarusian milk, though indicative, is inadequate in illustrating the astronomical devastation of the Chernobyl legacy.
In 1996, ten years after the explosions, meltdown, and raging nuclear fires at the Chernobyl Nuclear Power Plant, the International Atomic Energy Agency (IAEA) estimated the disaster had spewed “400 times more radioactive material into the Earth’s atmosphere than the atomic bomb dropped on Hiroshima.”
Lichens and mushrooms so thoroughly absorbed this radioactivity, in particular radioactive cesium, that reindeer over 1,000 miles away in Norway — where the meat is eaten — remain unfit for human consumption. Wormwood Forest, near the accident site, stands as an eerie monument of contamination with dead trees turned ginger-colored. Mass evacuations of humans from the areas surrounding Chernobyl naturally led to an explosion in wildlife numbers in species such as boars and wolves. And, as scientists discovered in 2011, birds displayed 5 percent smaller brains than average due to radioactivity lingering in the atmosphere.
Estimating the total number of human casualties resulting from the spectacularly failed foray into nuclear energy has largely been an exercise in futility. Greenpeace estimated ten years ago the total number of cancer cases resulting from Chernobyl would top 250,000 — with around 93,000 of those being fatal. Based on a Belarusian study, Greenpeace surmised 60,000 people had perished in Russia and potentially an additional 140,000 in the Ukraine and Belarus would die directly as a result of Chernobyl radioactive contamination. That study challenged the lowball estimate of 4,000 total deaths proffered by the United Nations in 2005 — a figure eventually abandoned once it realized “unacceptable uncertainties” made quantifying fatalities too tricky.
As Timothy A. Mousseau wrote for U.S. News & World Report,
“in the past decade population biologists have made considerable progress in documenting how radioactivity affects plants, animals, and microbes […]
“Our studies provide new fundamental insights about consequences of chronic, multigenerational exposure to low-dose ionizing …read more
Source: On the 30th Anniversary Of Chernobyl, Here’s What We Are Still Not Being Told
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Sweden On High Alert After Reports ISIS Militants Enter Country To "Target Civilians"
By Tyler Durden
In the last week of March, immediately in the aftermath of the tragic Brussels bombing which ISIS took responsibility for and which was subsequently revealed as organized by a semi-autonomous Brussels cell operating closely with the French cell responsible for the November 2015 terrorist attack, we reported that the Islamic State group has trained at least 400 attackers and sent them into Europe for terror attacks. As AP said, citing security officials, “the network of interlocking, agile and semi-autonomous cells shows the reach of the extremist group in Europe even as it loses ground in Syria.”
The last sentence was most troubling: “The officials say the fighters have been given orders to find the right time, place and method to carry out their mission.”
Fast forward one month later when one such place targeted for a new ISIS attack may have been revealed.
ISIS is reportedly planning to strike civilians in the Swedish capital of Stockholm
Earlier today Swedish media reported that officials from the local security services are in a “heightened state of readiness” in connection with a potential terror threat because according to these same reports, several Islamic State fighters have arrived in Sweden to carry out attacks on civilian targets in the capital Stockholm.
“Right now we’re gathering information and intelligence and coordinating with our national and international partners,” security police (Säpo) press spokesman Simon Bynert told the TT news agency.
He added that Säpo is also cooperating with the national police service. “That means we’re sharing this information with them to see if they can implement measures that fall under their remit.”
The Swedish Expressen newspaper reported that the country’s security service received information from their Iraqi colleagues about an imminent terror threat in the country. About seven to eight Islamic State terrorists arrived in Sweden to carry out attacks in Stockholm, Expressen sources claimed and added that “according to the information, the terrorists are planning to attack civilian targets in the capital.’
While the Swedish Security Service (Säkerhetspolisen) would not confirm the reports in both Expressen and Aftonbladet – Scandinavia’s biggest tabloid newspapers – but said they are working on analyzing the intelligence received.
Sweden’s flag waves near the Stockholm Cathedral in the Old Town district of Stockholm
According to AP, there has been speculation in local media that Swedish King Carl XVI Gustaf’s 70th birthday, a traditional gathering for the royal family, government officials and EU royal visitors, on April 30 could be a possible target for extremists.
It is thus certainly possible that 7-8 ISIS fighters are located in Sweden now, which could become the locus of the next terrorist attack. At least 300 Swedish nationals have traveled to Iraq and Syria to join Islamic State (IS, formerly ISIS/ISIL) according to research conducted by the International Centre for Counter-Terrorism (ICCT), published on April 1. Around half of these are from the city of Gothenburg, Sweden’s second largest city with a population of around 500,000 people.
This makes Gothenburg the European city which, in proportion to …read more
Source: Sweden On High Alert After Reports ISIS Militants Enter Country To "Target Civilians"
Aussie Dollar Plunges As Inflation Slumps To Record Low
By Tyler Durden
Despite surging commodity prices in China – which must be real and represent demand growth and price increases, right? – Aussie core inflation slowed to the weakest on record as headline prices unexpectedly fell last quarter (CPI -0.2%). RBA Rate-cut odds tripled instantly sending AUD down over 1.2% (its biggest drop in 2 months). Perhaps, just perhaps, that collossal credit injection in Q1 via China did not make it into the AsiaPac economy after all and merely fueled a speculative frenzy in commodities that merely “looks” like a recovery?
The Reserve Bank of Australia looks at two core inflation measures — trimmed mean and weighted median — and Wednesday’s report showed:
- Trimmed mean CPI rose 0.2% QoQ vs. median forecast of 0.5%
- Weighted median CPI gained 0.1% QoQ vs. median forecast of 0.5%
- CPI fell 0.2%, first decline since final quarter of 2008 vs. median forecast 0.2% rise
This does not look like a recovering Chinese economy is helping…
Which drove traders to bet on a rate-cut…
- *RBA MAY RATE CUT ODDS RISE TO 40% FROM 14% YDAY, FUTURES SHOW
“A pre-emptive May cut is surely now a real possibility,” said Gareth Berry, a foreign-exchange and rates strategist in Singapore at Macquarie Bank Ltd. “At the latest, an August cut is now inevitable. That spells the end of this three-month old Australian dollar rebound, and the downtrend can now resume in earnest.”
“Whereas the RBA was previously thinking that low inflation would allow it to cut interest rates if demand faltered, it is now clear that low inflation itself is the problem,” said Paul Dales, chief economist for Australia and New Zealand at Capital Economics. “An inflation-targeting bank like the RBA can’t ignore such a big undershoot of underlying inflation.”
As Goldman notes,
We believe the RBA will now be forced to lower their inflation forecasts in the May Statement of Monetary Policy, not just due to the low CPI data for 1Q16 but also in response to the rise in the A$ through 2016 which will further challenge the RBA’s assessment that inflation will accelerate to well within the target band due to rising tradeable inflation. From our perspective the inflation data is key evidence that excess capacity exists in both product and labour markets and this is supported by private sector wages expanding at record lows and the recent erosion of surveyed measures of inflation expectations (see here). In concert with our analysis that the reported strength in GDP growth in 4Q15 overstates the underlying pulse of the domestic economy (see here) and evidence that economic activity is slowing in 2016 across a broad range of indicators (including investment intentions, retail sales, finance approvals, tourist arrivals, housing turnover, consumer confidence).
Moreover, the RBA clearly established the criteria required for them to act upon their easing bias; weak inflation, slowing employment growth and a currency at a level that challenges the RBA assumptions of future economic growth. On all three criteria the evidence supports the case to ease policy in May. Should the RBA choose …read more
Source: Aussie Dollar Plunges As Inflation Slumps To Record Low
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Team USA to start the Olympic countdown
Team USA is holding an event in Times Square to mark 100 days until the start of the 2016 Rio Olympics. …read more
Source: Team USA to start the Olympic countdown
Following The "Sell-Off" Gundlach Is Starting To Buy Treasuries
By Tyler Durden
This afternoon Jeffrey Gundlach held one of his periodic interviews with Reuters’ Jenna Ablan in which he said that the selloff in Treasuries is over and that investors looking to purchase Treasuries in the wake of the bond market’s sell-off – if one can call a move in the 10Y to 1.91% a selloff – are making a prudent move. “I think it is a reasonable strategy to start legging into the Treasury market.”
To be sure, he is talking his book, but at least he is honest about it: “We’ve been buying a little bit today … we bought a small amount of guaranteed mortgages, particularly Freddie Mac MBS.”
What about equity investors? Gundlach said that investors who want to purchase equities at this juncture should consider non-U.S. stocks. “They are down more than U.S. stocks. If U.S. equities go higher, it would seem very implausible that other markets would not participate in the rally even more.”
Gundlach, who runs $95 billion at DoubleLine, said he does not expect much from the latest Federal Reserve meeting but does expect somewhat “hawkish” language about the potential for hikes at meetings later this year. Instead he believes, as do we since 2013, that the next major easing step is also the final one: Gundlach suggested that a “helicopter money” drop could be the government’s next big monetary and fiscal move to stimulate the U.S. economy.
“Helicopter money is going to happen,” he said.
Gundlach’s track record has so far been mostly impeccable: last year, Gundlach correctly predicted that oil prices would plunge, junk bonds would live up to their name and China’s slowing economy would pressure emerging markets. In 2014, Gundlach correctly forecast U.S. Treasury yields would fall, not rise as many others had expected.
So if it is not the Fed, then what does spook him?
Last month, Gundlach told Reuters that he foresees a “global growth scare” between now and the end of the summer, triggered by a presidential nomination of Donald Trump.
Trump’s protectionist policies could mean negative global growth, Gundlach warned. “As he gets the nomination, the markets and investors are going to worry about it more. You will see a downgrading of global growth based on geopolitical risks. You must factor this into your risk-management.”
Which is ironic because as we reported last Friday, Gundlach also sees Trump as being the next president, and a good one at that.
Trump is going to win. I think Clinton and Sanders are both very poor candidates. I know the polls are signaling the opposite. But the polls said the opposite four years ago, too.
In the short term, Trump winning would be probably very positive for the economy. He says a lot of contradictory things and things that are not very specific. But he does say that he will build up the military and that he will build a wall at the border to Mexiko. If he wins he’s got at least to try those things. Also, he might initiate …read more
Source: Following The "Sell-Off" Gundlach Is Starting To Buy Treasuries
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Is The Race Over: Market Odds Of Contested Convention Tumble As Trump Nomination Odds Surge
By Tyler Durden
While it was broadly accepted that Trump would sweep tonight’s “Acela Primary”, few were expecting Trump to post majority wins in any of the states. And Yet, that appears to be taking place nowhere more so than in Pennsylvania where Trump’s vote as of this moment is over 65%, a result which would go far to assuring Trump of getting the required 1237 votes to avoid a contested convention.
And indeed, the market is already responding. Moments ago, on popular online betting side PredictIt, the odds of a contested GOP convention just tumbled to 21%, trying the record low in history.
Meanwhile, Trump’s odds of wining the GOP primary have soared, and are now at 80%, tying the highest level in contract history.
So, with Hillary also now assured of the Democratic nomination, and with Trump on his way, is the presidential primary race effectively over?
Source: Is The Race Over: Market Odds Of Contested Convention Tumble As Trump Nomination Odds Surge
Economy In Decline: Apple Reports Massive Revenue Decline As iPhone Sales Plummet Dramatically
Corporate revenues in the United States have been falling for quite some time, but now some of the biggest companies in the entire nation are reporting extremely disappointing results. On Tuesday, Apple shocked the financial world by reporting that revenue for the first quarter had fallen 7.4 billion dollars compared to the same quarter last year. That is an astounding plunge, and it represents the very first year-over-year quarterly sales decline that Apple has experienced since 2003. Analysts were anticipating some sort of drop, but nothing like this. And of course last week we learned that Google and Microsoft also missed revenue and earnings projections for the first quarter of 2016. The economic crisis that began during the second half of 2015 is really starting to take hold, and even our largest tech companies are now feeling the pain.
This wasn’t supposed to happen to Apple. No matter what else has been going on with the U.S. economy, Apple has always been unshakeable. Even during the last recession we never saw a year-over-year decline like this…
Apple today announced financial results for the second fiscal quarter (first calendar quarter) of 2016. For the quarter, Apple posted revenue of $50.6 billion and net quarterly profit of $10.5 billion, or $1.90 per diluted share, compared to revenue of $58 billion and net quarterly profit of $13.6 billion, or $2.33 per diluted share, in the year-ago quarter. As expected, the year-over-year decline in quarterly revenue was the first for Apple since 2003.
I think that this announcement by Apple is waking a lot of people up. The global economic slowdown is real, and we can see this in iPhone sales. During the first quarter, Apple sold 16 percent fewer iPhones than it did during the same quarter in 2015. This is the very first year-over-year quarterly sales decline for the iPhone ever. Here are some of the specific sales figures from the Apple announcement…
Apple sold 51.1 million iPhones during the quarter, down from 61.2 million a year earlier, while Mac sales were 4.03 million units, down from from 4.56 million units in the year-ago quarter. iPad sales were also down once again, falling to 10.25 million from 12.6 million.
Once these numbers hit the wires, shares of Apple immediately began to plummet during after-hours trading. In fact, USA Today is reporting that Apple has already lost 43 billion dollars in market value since the annoucement…
Shares of Apple are getting hit roughly 8% in after-hours trading, tumbling to $96.67. They closed in regular trading at $104.35, or down 0.7%, putting them down 0.9% for the year. The downward move in after-hours trading means the company shed $43 billion in market value based on after-hours trading.
Wow.
Meanwhile, shares of Twitter are crashing in after-hours trading after the social media giant also announced very disappointing results. The stock has now dripped below 16 dollars a share, and the company continues to lose tremendous amounts of money…
For all its other travails, Twitter is unprofitable. It narrowed its loss but …read more
Source: Economy In Decline: Apple Reports Massive Revenue Decline As iPhone Sales Plummet Dramatically
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Economy In Decline: Apple Reports Massive Revenue Decline As iPhone Sales Plummet Dramatically
Corporate revenues in the United States have been falling for quite some time, but now some of the biggest companies in the entire nation are reporting extremely disappointing results. On Tuesday, Apple shocked the financial world by reporting that revenue for the first quarter had fallen 7.4 billion dollars compared to the same quarter last year. That is an astounding plunge, and it represents the very first year-over-year quarterly sales decline that Apple has experienced since 2003. Analysts were anticipating some sort of drop, but nothing like this. And of course last week we learned that Google and Microsoft also missed revenue and earnings projections for the first quarter of 2016. The economic crisis that began during the second half of 2015 is really starting to take hold, and even our largest tech companies are now feeling the pain.
This wasn’t supposed to happen to Apple. No matter what else has been going on with the U.S. economy, Apple has always been unshakeable. Even during the last recession we never saw a year-over-year decline like this…
Apple today announced financial results for the second fiscal quarter (first calendar quarter) of 2016. For the quarter, Apple posted revenue of $50.6 billion and net quarterly profit of $10.5 billion, or $1.90 per diluted share, compared to revenue of $58 billion and net quarterly profit of $13.6 billion, or $2.33 per diluted share, in the year-ago quarter. As expected, the year-over-year decline in quarterly revenue was the first for Apple since 2003.
I think that this announcement by Apple is waking a lot of people up. The global economic slowdown is real, and we can see this in iPhone sales. During the first quarter, Apple sold 16 percent fewer iPhones than it did during the same quarter in 2015. This is the very first year-over-year quarterly sales decline for the iPhone ever. Here are some of the specific sales figures from the Apple announcement…
Apple sold 51.1 million iPhones during the quarter, down from 61.2 million a year earlier, while Mac sales were 4.03 million units, down from from 4.56 million units in the year-ago quarter. iPad sales were also down once again, falling to 10.25 million from 12.6 million.
Once these numbers hit the wires, shares of Apple immediately began to plummet during after-hours trading. In fact, USA Today is reporting that Apple has already lost 43 billion dollars in market value since the annoucement…
Shares of Apple are getting hit roughly 8% in after-hours trading, tumbling to $96.67. They closed in regular trading at $104.35, or down 0.7%, putting them down 0.9% for the year. The downward move in after-hours trading means the company shed $43 billion in market value based on after-hours trading.
Wow.
Meanwhile, shares of Twitter are crashing in after-hours trading after the social media giant also announced very disappointing results. The stock has now dripped below 16 dollars a share, and the company continues to lose tremendous amounts of money…
For all its other travails, Twitter is unprofitable. It narrowed its loss but …read more
Source: Economy In Decline: Apple Reports Massive Revenue Decline As iPhone Sales Plummet Dramatically
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