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TheStreet’s Caroline Woods brings you the biggest business news of the day, including what investors are watching and why stamps are getting more expensive again.
⏲ 1:53 👁 57M
This leaning utility post at the corner of N. Bacalso and V. Rama Avenue in Cebu City is raising alarms for potential accidents among motorists and pedestrians alike.<br/><br/>The post appears to be pleading for replacement and respite.<br/><br/>Urgent attention is needed from the Technical Infrastructure Committee of Cebu City Hall to address this pressing issue. | via Zhan Francisco Ramirez
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New York Community Bank is currently offering the nation's highest interest rate for a savings account.Users who sign up for a my banking direct account via New York Community Bank's online arm will get a 5.55% Annual percentage yield.This comes about a month after the regional financial institution had to raise $1 billion dollars in funding from investment firms including Steven Mnuchin's Liberty Strategic Capital and replaced its chief executive.
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The medicinal cannabis industry in Australia has grown to an estimated $400 million, with around 1.2 million using it last year. However, 80 percent of our cannabis is imported and now doctors are raising concerns about its origins and quality.
⏲ 2:10 👁 29.8M
In 2009, French entrepreneurs took a massive gamble: building a luxury industry in one of the world’s poorest countries. Before Acipenser, no companies had successfully farmed caviar in Africa. Today, its caviar is served in Michelin-starred restaurants in Europe. How did they get customers from around the world to take a chance on African caviar? And why is it so expensive to raise sturgeon for \
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Some roles are hair-raising! Welcome to MsMojo, and today we’re counting down our picks for the times when celebs' tresses were fried, cut and/or damaged due to their jobs.
⏲ 9:49 👁 330K
The shadow armed forces minister says Labour has committed to raising defence spending by 2.5 percent of GDP \
⏲ 4:14 👁 11.1M
For 15 years, BBI Autosport have been the experts in high-end, off-the-market tuning. But one of their most recent projects on a Porsche 911 GT2 RS seems to have stood out from the rest. Although this model is already Porsche’s most powerful car, BBI has expanded its capability even further by transforming one from a sleek sports car into a swift supercar. With specialist customisation, they pushed the car to reach speeds of 227mph, making it the fastest 911 in the world. Owner of BBI Betim Berisha told R.Rides: “We take this beautiful canvas that Porsche gives us and we tailor it to a client’s need or specific goal that we’re after. I don’t think we have ever built a car that made you actually feel this comfortable doing something so wrong. If I had to describe this Porsche in three words, I would say it’s visceral, raw and powerful.” Starting with the factory model, BBI upgraded the classic 911 with a custom engine, larger turbos and an advanced cooling system. Dmitriy Orlov, who works at the company said: “This car has bigger turbochargers, more intercooler, better calibration, a water-methanol injection system, better chassis to handle the high speed – and of course on Michelin tyres because they are just proven to be phenomenal at any speed and power level. There is also a lot of work on the interior. There are raised seats and harnesses to ensure that the car is safe.” To buy from the showroom, the Porsche 911 GT2 RS typically sells for around $350,000 – but with this level of modification, this car would cost closer to half a million dollars.
⏲ 5:26 👁 8.1M
Staying small is working out big time for Shore Capital. Their average internal rate of return on its 14 exits, all in health care, is 53%, net of fees. That’s nearly triple the average net IRR of U.S. buyout funds raised since 2009, according to data from Cambridge Associates. After Shore took its 20% to 30% cut of profits, its exits multiplied investors’ money by 5.5 times on average, also nearly triple the average total value to paid-in capital multiple of U.S. buyout funds raised during that period. Shore has never unloaded a company for less than three times cost before fees, nor, it says, has it ever suffered a loss. “Those are top 1% returns in private equity,” marvels one investor who asked not to be identified, citing his organization’s press policy. “That’s rarefied air, right? That’s more like venture capital than a traditional buyout firm.”<br/><br/>Ishbia and his team have acquired more than 1,000 mom-and-pop shops across the country (average cost: $15 million) since Shore’s 2009 founding and rolled them up into 61 larger chains of things inclu­ding autism treatment clinics, bakeries and exterminators. “We’re buying businesses in Akron, Ohio, and Pittsburgh, and Birmingham, Alabama,” Ishbia says. “There’s more low-hanging fruit for me. It’s Joe Schmo on Main Street.”<br/><br/>Shore then invests in computer systems and equipment, stacks the businesses’ boards with industry veterans and hunts for complementary companies in adjacent markets. “We’re just buying and buying and buying,” says Ishbia, who insists Shore doesn’t take on as much debt as other private equity firms and doesn’t cut servi­ces or head count. “The private equity world gets a bad rap for ‘buy this, slash that.’ We are growth—we have almost 35,000 employees and hire thousands per year.”<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/mattdurot/2024/04/08/this-main-street-billionaire-bought-over-a-thousand-small-businesses-and-never-lost-a-dime-justin-ishbia/?sh=3140aa9e39ee<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
⏲ 11:7 👁 580K
A fire hit a residential area in Gate 52, Parola Compound, in Binondo, Manila on Friday, April 12.<br/><br/>The Bureau of Fire Protection (BFP) said the fire was raised to the first alarm at 11:41 a.m. and escalated to the second alarm at 11:49 a.m. (MB Video by Arnold Quizol) <br/><br/>READ MORE: https://mb.com.ph/2024/4/12/fire-hits-binondo-houses
⏲ 1:19 👁 7.9M
Plans to introduce a fixed sliding gate on Tenby harbour pier during holiday season are in the pipeline to help combat instances of anti-social behaviour and safety concerns at the locality.<br/>Local authorities took the decision over the Whitsun holiday period last year to close off a section of the harbour pier at high tides, after serious safety concerns resurfaced with the volume of youngsters and people jumping in the water causing risk of injury from vessel movements within the harbour.<br/>Anti-social behaviour concerns were also raised, with teenagers congregating down the pier, drinking and then diving in the sea, with some choosing to climb onto nearby premises to gain higher vantage points to jump from. The move was also designed to combat ‘boy racers’ parking up at the picturesque spot during the evenings.<br/> Tenby Harbour User's Association members recently had it confirmed to them at a meeting that a design is in process for a fixed sliding gate at the pier. <br/>In the mean time Heras fencing will return in May to ensure the working pier is not compromised in 2024. This will again be manned by Tenby boatmen and the harbourmaster.
⏲ 1:17 👁 390K
Prime Minister Narendra Modi addresses a rally in Barmer, Rajasthan, criticizing the opposition's manifesto for its alleged ties to the Muslim League and its stance on India's nuclear weapons. Modi questions the logic behind weakening India's defense capabilities in the face of nuclear-armed neighbors. Watch the full speech for more insights into his remarks.<br/> <br/>#PMModi #NuclearWeapons #IndianNuclearWeapon #INDIAAlliance #BJPvsCongress #CongressManifesto #LokSabhaElections2024 #PMModiinRajsthan #Oneindia<br/>~PR.274~ED.194~GR.124~
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