Author: Money Mechanics

Porsche is seeking to accelerate cost reductions, conclude labour negotiations and overhaul its long-term strategy as the car maker works to recover from a prolonged slowdown. Speaking to German newspaper Frankfurter Allgemeine Sonntagszeitung (FAS), Porsche CEO Michael Leiters said the company aims to finalise discussions with its works council on a second cost-cutting programme before factory holidays begin in July. “We want to reach an agreement with the employees before the factory holidays in July; Porsche employees need clarity”, Leiters, who took over as Porsche CEO in January, said. The programme, announced in mid-2025, has yet to be completed. According…

Swiss Re Insurance-Linked Strategies Inc. is the new name for the global reinsurance firm’s dedicated insurance-linked securities investment management business, as Swiss Re looks to provide a clearer representation of the value proposition of this unit.Previously, the ILS investment management business was named Swiss Re Insurance-Linked Investment Advisors Corporation (SRILIAC), which was a name that had existed since 2022. For the full-history of the ILS management business unit names, you have to go back to 2020 when Swiss Re first established Swiss Re Insurance-Linked Investment Management Ltd. (SRILIM) which was a unit that managed a private ILS strategy (the Core…

A Boca Raton mansion within a private golf course community and two apartments in New York City are among May’s most expensive home sales.  A massive waterfront estate in Boca Raton, two ultra-luxury Manhattan properties, and several waterfront Florida estates were among May’s most expensive home sales. A sprawling estate in Boca Raton, FL claimed the title of most expensive U.S. home sale in May, selling for $75 million in the private golf course community of Royal Palm Yacht & Country Club. Next comes another Florida property, a luxury estate in Manalapan, fetching $62.5 million. The Sunshine State dominated the…

Jada Jones/ZDNETFollow ZDNET: Add us as a preferred source on Google.Sennheiser and Sony both make excellent headphones with great sound, impressive battery performance, and functional, minimalist silhouettes. If you’re between Sony’s WH-1000XM6 and Sennheiser’s Momentum 5, you should know that despite their similarities, they appeal to different kinds of users.Also: I traveled 2,700 miles with Sony, Apple, and Sennheiser headphones – this pair sounded the bestSennheiser’s headphones appeal most to audio purists who still want the convenience and flexibility of wireless headphones, while Sony’s appeal to people who want the smartest, most feature-rich headphones around. Let’s go into further detail about which…

(Investing) – BENGALURU/LONDON –  fell on Friday after Israel and Hezbollah agreed to a ceasefire, easing concerns over disruptions to Middle East oil supplies and raising hopes of broader de-escalation involving the United States and Iran. Flags of Israel and Lebanon waving in the wind on a clear day. Geopolitical instability and border security. 3d illustration render. Selective focus Brent crude futures were down 85 cents, or 1.1%, at $79 a barrel by 1303 GMT, and were heading for a weekly decline of 9.5%. The front-month July contract for U.S. West Texas Intermediate crude, which expires on Monday, fell 64 cents,…

America’s 250th anniversary is rapidly approaching, and over those years the Spring Grove Mill House in Hockessin, DE, has nearly seen it all.With unbelievable ties to major U.S. events spanning from the Revolutionary War to the first moon walk, the property has a unique place in American history. Were it not for the sleuthing skills of a former police investigator who happens to be the current owner, this home’s fascinating story might have remained buried.”When my wife Florence and I purchased the Spring Grove Mill House in 2017, we had no idea of the home’s historic significance,” says David E.…

The Amazon Web Services IAD10 data center in Sterling, Virginia, May 31, 2026.Lexi Critchett | Bloomberg | Getty ImagesA huge slice of global data center capacity faces elevated risk to acute climate hazards, a study released Thursday shows. Those acute hazards, which hang over 79% of capacity, include severe climate-induced events such as flooding, extreme winds and wildfires that can disrupt operations, increase downtime and drive insurance and repair costs, according to the report by First Street, a climate risk analytics firm.First Street looked at 97 global data center markets in the report. “Most underwriting for real assets still uses…

Claude Guillemot, co-founder of French video game company Ubisoft, died Friday at the age of 69. According to French media (via Bloomberg), Guillemot died in a plane crash in the French resort town of La Baule. He was one of two people aboard the plane, both of whom died. Guillemot founded Ubisoft with his four brothers in 1986. Since then, the company has published the Assassin’s Creed, Far Cry, Prince of Persia, and Tom Clancy video game franchises, as well as many other titles. The family retains control of Ubisoft, and Guillemot’s brother Yves is still CEO. Guillemot was also…

Most people can’t imagine having to drive five hours to and from the nearest grocery store—yet that is exactly what Sean and Jessica Hughes have to do twice a month to continue living their dream life in an off-grid dome home in Tennessee.For the past six years, Sean, 44, and Jessica, 40, have endured the lengthy shopping trips because they are one of the only drawbacks to an otherwise idyllic life, one that the couple never believed they would achieve after finding themselves broke and homeless while living in Los Angeles.It took grit, determination, and some inspiration from YouTube for…

US stock futures fell Sunday evening, while crude oil prices surged, as investors weighed uncertainty over Iran and prepared for a pivotal inflation report later this week. Futures linked to the S&P 500 (ES=F) slipped 0.4%, while contracts tied to the Nasdaq 100 (NQ=F) lost 0.6%. Dow futures (YM=F) declined 0.3%. Energy markets climbed with instability driving oil higher. West Texas Intermediate (CL=F) crude jumped nearly 3% to trade near $78 a barrel, while Brent (BZ=F) crude climbed above $81 as traders assessed the risk of further disruption in the Middle East. Market sentiment was rattled after President Donald Trump…