Saturday, December 4
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The retirement downsizing myth: No, seniors aren’t moving in droves — and that will affect the housing market

Article content continuedReverse mortgages may be a tool for a senior who wants to stay in their home and does not have another option. Photo by Cole Burston/Bloomberg filesAn alternative to a reverse mortgage for a senior who does not want to move could be to sell a home and then sign a long-term lease agreement for that home. Listing a home for sale with a condition that the seller wants to lease the home from the purchaser may limit the potential buyers. But it could also match up a senior who does not want to move, and needs money, with a potential rental property investor, assuming the proper realtor and legal advice.Families of aging seniors can try to talk to them about the lifestyle and financial implications of a downsize, but ultimately, the decision is theirs as long as they ...
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Microsoft will work with SpaceX to build a satellite network that can detect the launch of nuclear weapons

SpaceX has asked Microsoft's Azure cloud computing business to help the rocket company fulfill a $149 million Pentagon project. For the contract, SpaceX will build four experimental satellites that detect missile launches as part of the Department of Defense's Space Tracking Layer network. The contract follows the partial rollout of SpaceX's ever-growing "megaconstellation" of Starlink internet satellites. "Microsoft will be doing quite a bit of work as a subcontractor," Gwynne Shotwell, president and COO of SpaceX, said in a video posted Tuesday. Visit Business Insider's homepage for more stories. SpaceX has tapped Azure, a massive cloud-computing service built by Microsoft, to help it develop and operate experimental satellites capable of detecting missile...
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Unions representing more than 10,000 Disneyland Resort workers tell California’s governor that the park can reopen safely once local infections dip

Disneyland Resort can safely reopen once local COVID-19 cases fall, unions representing more than 10,000 workers have told California governor Gavin Newsom. Currently, large theme parks in the state are barred from opening, regardless of local infection numbers. The unions urged Newsom's theme park taskforce to meet with them and draw up guidelines for Disneyland Resort's reopening. Disneyland Resort has been shut since mid-March, but Disney's other parks, such as Walt Disney World in Florida, have reopened their doors to visitors. In September, Disney announced plans to lay off 28,000 workers from its parks in Florida and California. Visit Business Insider's homepage for more stories. Disneyland Resort in Anaheim, California should be allowed to reopen when...
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Sterling driven by weaker dollar; traders hope for Brexit trade deal

Article contentLONDON — Sterling rose against the dollar but fell versus the strong euro on Tuesday, with investors still searching for clues on how likely it was that Britain would reach a trade deal with the European Union by the end of the year."Trade talks between the EU and UK remain at an impasse with time quickly running out to reach a deal before the end of this year," said Lee Hardman, currency analyst at MUFG.But “the developments are unlikely to materially alter market expectations that a trade deal remains the most likely scenario, despite recent turbulence which is helping to dampen pound weakness,” Hardman said.The pound was last trading up 0.2% $1.2968, while against the euro it was down 0.4% at 91.26 pence, having slipped earlier to a two-week low of 91.48 pence.On a mon...
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Mujica says goodbye to the Senate of Uruguay: “Succeeding in life is not winning, it is getting up and starting over”

The former president of Uruguay José Mujica presented his resignation to the Senate of the South American country on Tuesday, leaving as a message that "succeeding in life is not winning, it is getting up and starting over every time one falls." Former president Julio María Sanguinetti (1985-1990 and 1995-2000) has also resigned. Both won their seats in the elections held in October 2019, but their advanced age (Sanguinetti is 84 and Mujica 85) has made them justify their absence from the rest of the legislative period, which ends in 2025. ...
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Warren Buffett’s Berkshire Hathaway agrees to $4.1 million settlement with US Treasury after a rogue subsidiary allegedly violated Iran sanctions

Warren Buffett's Berkshire Hathaway has agreed to a $4.1 million settlement with the US Treasury after one of its subsidiaries was accused of 144 apparent violations of Iran sanctions.The billionaire investor's company bought Iscar, an Israeli maker of metal-cutting tools, in 2006.Iscar's Turkish division exported $383,000 worth of its products to third-party distributors, knowing the goods were destined for Iran and some would be sold to customers linked to the Iranian government, the Treasury said.Several senior managers of Iscar Turkey hid their dealings from Berkshire and authorities by using private email addresses, entering false names into internal records, and lying to investigators, Treasury officials said.Berkshire voluntarily disclosed the apparent vio...
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Qualcomm jumps into 5G infrastructure market with base station chips

Article contentQualcomm Inc on Tuesday said it will produce chips for 5G telecommunications networking gear, marking the first entry by a major American technology company into a market dominated by European and Chinese firms.San Diego-based Qualcomm is already the largest supplier of chips for mobile phones, including the modem chips that connect handsets to newer 5G wireless data networks capable of faster speeds than LTE networks. But the market for the 5G base stations and other infrastructure purchased by telecommunications carriers has been dominated by players such as Nokia, Ericsson and, before the US government moved to cut off its ability to secure semiconductors, Huawei Technologies Co Ltd.Qualcomm does not plan to challenge those players directly. Instead, it is aiming to po...
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1 in 3 American households say their worse off financially than last year — so holiday spending could crater

Do you have a personal experience with the coronavirus you'd like to share? Or a tip on how your town or community is handling the pandemic? Please email [email protected] and tell us your story. Get the latest coronavirus business & economic impact analysis from Business Insider Intelligence on how COVID-19 is affecting industries. www.businessinsider.com
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DOJ files antitrust lawsuit against Alphabet’s Google

Article content continued"(States joining the lawsuit is) one of those things where it adds heft but makes it complicated."ART HOGAN, CHIEF MARKET STRATEGIST AT NATIONAL SECURITIES IN NEW YORK"It's not that there are no other players in search but people seem to like Google more. So I don't know how you restrict search from one of the players."You say that Google can control half of it and the others can control the other half.. I'm not sure how that will play out.""The second thing is we say that –'Google we are going to break you up, you are too large.' Often times looking at companies this size, for some of the parts, the valuations will be worth more than whole of the company as it is now. It's true with Amazon as well, like the Amazon Web Services.""It's very hard for investors to ...
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Brussels does not object to the Government lowering VAT on masks

The Government has contacted the European Commission to ask what is the criterion regarding the VAT of masks given that several countries have announced a reduction in it despite the fact that it is prohibited in a European directive, as explained by the spokesperson, María Jesús Montero, at the press conference after the Council of Ministers. "The directive is clear wi...