February 7 is the first day of Valentine's Week. Valentine's Week commences with Rose Day, celebrated on February 7. Thus, February 7 is an important date for all the couples and the people celebrating it. Since the first day of Valentine's Week is Rose Day, people know what to gift their partner! Roses on Rose Day. However, when they go to the shop to buy roses, they often are confused. The demand for flowers during Valentine's Week, especially on Rose Day, increases suddenly. Due to this, the prices of roses in the market surge every Rose Day. The wide range of variety and the high prices might confuse you on Rose Day. You might also end up buying the wrong roses for your Valentine.

Many couples celebrating Valentine's Week are in long-distance relationships. Giving each other roses on Rose Day might not be possible for them. Some people also choose to send roses to their partners on the morning of Rose Day. Surprising your lovers with flowers is the ideal start to Valentine's Week.&nbsp;

<h3>Keeping all this in mind, we have compiled the ultimate list for Rose Day 2023. Here are the top 10 places for ordering and sending flowers to your partners at the cheapest cost on Rose Day. You can buy roses online from the following websites.</h3>

Floweraura

Floweraura has a wide variety of options for Rose Day. The prices start at ₹400. They are providing same-day delivery on Rose Day. Floweraura's international services might be handy on Rose Day for people who have partners overseas and want to buy roses online.&nbsp;

Ferns &amp; Petals (fnp)

The Ferns &amp; Petals are known for their personalised touch and variety. For Rose Day 2023, fnp can be an ideal choice to buy roses online. They are active in all Tier-1 &amp; Tier-2 cities of India and many other countries. For Valentine's Week, they are also giving a discount of 70 per cent on exclusive products.

IGP.com

IGP is another reliable and trustworthy website, especially on Rose Day and during Valentine's Week. You can find beautiful and lavish on their website on Rose Day. You can choose from the different delivery options they provide.&nbsp;

Bloomsvilla

Bloomsvilla is your all-stop online flower shop. Not only roses, but you get to choose from a variety of flowers on Rose Day. They provide simple, minimalistic, and reasonable prices bouquets, perfect for Rose Day and Valentine's Week. It's one of the best places to buy roses online for Valentine's Week.&nbsp;

CityFlowers

Running low on the budget this Valentine's Week? Don't worry because CityFlowers has you covered for all your flower needs. They provide good-quality flowers, especially roses, at considerably low prices. For Rose Day, you must pre-book your orders at least a day before. Valentine's Week sale on certain products is live on CityFlower. Thus, you can buy roses online for cheap from these websites.&nbsp;

WINNI

To new users looking for flowers on Rose Day, WINNI is giving ₹100 to buy roses online from their website. They have a wide range of bouquets for Valentine's Week. You can also visit their stores during Valentine's Week.&nbsp;

My Flower Tree

My Flower Tree provides its customers with the best quality roses in beautifully wrapped boxes. Their price range starts around ₹300, and they have 300+ items in their product list. So grab the best one for Rose Day.

Interflora

Interflora has the ultimate collection for Rose Day. This Valentine's Week, they have luxury collections, flowers in a box, premium collections, plant gifts, and hand-tied bouquets. They are also offering same-day delivery.&nbsp;

PhoolWala

PhoolWala is another website you can visit for your flower needs on Rose Day. For Rose Day, you can choose from different colours and varieties of their roses. They also have various categories for people who want to send flowers to their parents or other relatives during Valentine's Week.

PrettyPetals

PrettyPetals guarantee to send fresh flowers and plants to the desired designation within three hours. They are active in all major cities of India.

February 7 is the first day of Valentine's Week. Valentine's Week commences with Rose Day, celebrated on February 7. Thus, February 7 is an important date for all the couples and the people celebrating it.

February 7 is the first day of Valentine's Week. Valentine's Week commences with Rose Day, celebrated on February 7. Thus, February 7 is an important date for all the couples and the people celebrating it. Since the first day of Valentine's Week is Rose Day, people know what to gift their partner! Roses on Rose Day. However, when they go to the shop to buy roses, they often are confused. The demand for flowers during Valentine's Week, especially on Rose Day, increases suddenly. Due to this, the prices of roses in the market surge every Rose Day. The wide range of variety and the high prices might confuse you on Rose Day. You might also end up buying the wrong roses for your Valentine. Many couples celebrating Valentine's Week are in long-distance relationships. Giving each other roses on Rose Day might not be possible for them. Some people also choose to send roses to their partners on the morning of Rose Day. Surprising your lovers with flowers is the ideal start to Valentine's Week. Keeping all this in mind, we have compiled the ultimate list for Rose Day 2023. Here are the top 10 places for ordering and sending flowers to your partners at the cheapest cost on Rose Day. You can buy roses online from the following websites. Floweraura Floweraura has a wide variety of options for Rose Day. The prices start at ₹400. They are providing same-day delivery on Rose Day. Floweraura's international services might be handy on Rose Day for people who have partners overseas and want to buy roses online. Ferns & Petals (fnp) The Ferns & Petals are known for their personalised touch and variety. For Rose Day 2023, fnp can be an ideal choice to buy roses online. They are active in all Tier-1 & Tier-2 cities of India and many other countries. For Valentine's Week, they are also giving a discount of 70 per cent on exclusive products. IGP.com IGP is another reliable and trustworthy website, especially on Rose Day and during Valentine's Week. You can find beautiful and lavish on their website on Rose Day. You can choose from the different delivery options they provide. Bloomsvilla Bloomsvilla is your all-stop online flower shop. Not only roses, but you get to choose from a variety of flowers on Rose Day. They provide simple, minimalistic, and reasonable prices bouquets, perfect for Rose Day and Valentine's Week. It's one of the best places to buy roses online for Valentine's Week. CityFlowers Running low on the budget this Valentine's Week? Don't worry because CityFlowers has you covered for all your flower needs. They provide good-quality flowers, especially roses, at considerably low prices. For Rose Day, you must pre-book your orders at least a day before. Valentine's Week sale on certain products is live on CityFlower. Thus, you can buy roses online for cheap from these websites. WINNI To new users looking for flowers on Rose Day, WINNI is giving ₹100 to buy roses online from their website. They have a wide range of bouquets for Valentine's Week. You can also visit their stores during Valentine's Week. My Flower Tree My Flower Tree provides its customers with the best quality roses in beautifully wrapped boxes. Their price range starts around ₹300, and they have 300+ items in their product list. So grab the best one for Rose Day. Interflora Interflora has the ultimate collection for Rose Day. This Valentine's Week, they have luxury collections, flowers in a box, premium collections, plant gifts, and hand-tied bouquets. They are also offering same-day delivery. PhoolWala PhoolWala is another website you can visit for your flower needs on Rose Day. For Rose Day, you can choose from different colours and varieties of their roses. They also have various categories for people who want to send flowers to their parents or other relatives during Valentine's Week. PrettyPetals PrettyPetals guarantee to send fresh flowers and plants to the desired designation within three hours. They are active in all major cities of India.

Why is February 7 important? Top 10 online shops to buy beautiful roses at cheapest cost in India

Miss Universe ownership has changed. A transgender tycoon has bought the Miss Universe contest. Watch this report for all the details.

WION Dispatch: Transgender tycoon buys Miss Universe contest

To fight off Russian invasion, Ukraine is looking to buy Iron Dome rocket interception system from Israel. The ambassador of Ukraine has asked Israel to sell it and also provide anti-tank missiles at a press briefing in Tel Aviv, media reports said. On Tuesday, Yevgen Korniychuk seems to have stopped short of accusing Israel of not allowing the missile defense system’s sale. The ambassador seems to be looking towards Israeli government to back up its support for Ukraine with military assistance. Contending that the US is not likely to oppose, Korniychuk said Ukraine wants to buy the rocket interception system. &nbsp;&nbsp;

Iron Dome system intercepts and destroys short-range rockets fired on it. For around a decade, the United States has been supporting Iron Dome of Israel financially. It has provided around $1.6 billion for its production and maintenance, as per the Congressional Research Service. &nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/russia-claims-progress-zelensky-says-heroic-defence-underway-in-donbas-486089">Russia claims progress, Zelensky says 'heroic' defence underway in Donbas</a>

Israel had also declined a request of US for Germany to send Israeli-licensed 'Spike' anti-tank missiles to Ukraine last week, Korniychuk also said. &nbsp;

Watch:&nbsp;Britain to supply Ukraine with rocket launchers, Zelensky thanks UK PM Boris Johnson for weapons

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Israel has been supporting Ukraine through humanitarian aid only. Earlier, it was the only country, which was operating a field hospital inside the country. Israel seems to be avoiding to help Ukraine militarily as it thinks it may anger Russia, which has a military presence in the neighbouring Syria. &nbsp;

WATCH WION LIVE HERE

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(With inputs from agencies)&nbsp;

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&nbsp;

To fight off Russian invasion, Ukraine is looking to buy Iron Dome rocket interception system from Israel. The ambassador of Ukraine has asked Israel to sell it and also provide anti-tank missiles at a press briefing in Tel Aviv, media reports said.

To fight off Russian invasion, Ukraine is looking to buy Iron Dome rocket interception system from Israel. The ambassador of Ukraine has asked Israel to sell it and also provide anti-tank missiles at a press briefing in Tel Aviv, media reports said. On Tuesday, Yevgen Korniychuk seems to have stopped short of accusing Israel of not allowing the missile defense system’s sale. The ambassador seems to be looking towards Israeli government to back up its support for Ukraine with military assistance. Contending that the US is not likely to oppose, Korniychuk said Ukraine wants to buy the rocket interception system. Iron Dome system intercepts and destroys short-range rockets fired on it. For around a decade, the United States has been supporting Iron Dome of Israel financially. It has provided around $1.6 billion for its production and maintenance, as per the Congressional Research Service. Also Read: Russia claims progress, Zelensky says 'heroic' defence underway in Donbas Israel had also declined a request of US for Germany to send Israeli-licensed 'Spike' anti-tank missiles to Ukraine last week, Korniychuk also said. Watch: Britain to supply Ukraine with rocket launchers, Zelensky thanks UK PM Boris Johnson for weapons × Israel has been supporting Ukraine through humanitarian aid only. Earlier, it was the only country, which was operating a field hospital inside the country. Israel seems to be avoiding to help Ukraine militarily as it thinks it may anger Russia, which has a military presence in the neighbouring Syria. WATCH WION LIVE HERE (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

Ukraine looks to buy Iron Dome rocket interception system from Israel to fight off Russia

In an attempt to accumulate $44 billion to buy Twitter, billionaire Elon Musk has already raised $7.14 billion from investors, Tesla CEO revealed. &nbsp;&nbsp;

The investors include crypto exchange Binance, Oracle co-founder Larry Ellison, asset management firms, Brookfield, Fidelity and Sequoia Capital, said media reports. &nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/world/in-three-years-billionaire-elon-musk-looks-to-take-twitter-to-public-markets-again-says-report-476260" hreflang="en">In three years, billionaire Elon Musk looks to take Twitter to public markets again, says report</a>

Now, the SpaceX head needs to raise $21 billion of equity to fund his takeover of the social media platform. And a substantial amount of debt and loans from global banks is also need in this regard. &nbsp;

Ellison has paid $1 billion, Venture capital firm Sequoia gave $800 million, Dubai-based tech investment firm VyCapital is pitching with $700 million and Binance has contributed with $500 million. &nbsp;

Not just this, Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, who is already an investor in Twitter, will also roll 35 million shares into this&nbsp;bid vehicle. It equates to a $1.9 billion stake at the offer price. &nbsp;

Watch:&nbsp;End of free Twitter? Tesla CEO Elon Musk suggests raft of changes to Twitter

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Earlier, Tesla CEO Elon Musk sold 4.4 million shares of the electric carmaker, US securities filings showed on Thursday. The shares are worth USD 8.5 billion. This mover from the billionaire is likely to help him to generate funds for his proposed acquisition of Twitter. &nbsp;

In a tweet, Musk said that there were no plans to share more Tesla shares. &nbsp;

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(With inputs from agencies)&nbsp;

In an attempt to accumulate $44 billion to buy Twitter, billionaire Elon Musk has already raised $7.14 billion from investors, Tesla CEO revealed. The investors include crypto exchange Binance, Oracle co-founder Larry Ellison, asset management firms, Brookfield, Fidelity and Sequoia Capital, said media reports.

In an attempt to accumulate $44 billion to buy Twitter, billionaire Elon Musk has already raised $7.14 billion from investors, Tesla CEO revealed. The investors include crypto exchange Binance, Oracle co-founder Larry Ellison, asset management firms, Brookfield, Fidelity and Sequoia Capital, said media reports. Also Read | In three years, billionaire Elon Musk looks to take Twitter to public markets again, says report Now, the SpaceX head needs to raise $21 billion of equity to fund his takeover of the social media platform. And a substantial amount of debt and loans from global banks is also need in this regard. Ellison has paid $1 billion, Venture capital firm Sequoia gave $800 million, Dubai-based tech investment firm VyCapital is pitching with $700 million and Binance has contributed with $500 million. Not just this, Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, who is already an investor in Twitter, will also roll 35 million shares into this bid vehicle. It equates to a $1.9 billion stake at the offer price. Watch: End of free Twitter? Tesla CEO Elon Musk suggests raft of changes to Twitter × Earlier, Tesla CEO Elon Musk sold 4.4 million shares of the electric carmaker, US securities filings showed on Thursday. The shares are worth USD 8.5 billion. This mover from the billionaire is likely to help him to generate funds for his proposed acquisition of Twitter. In a tweet, Musk said that there were no plans to share more Tesla shares. WATCH WION LIVE HERE (With inputs from agencies)

Inching closer: To buy Twitter for $44 bn, Elon Musk raises $7.14 bn from Binance, Oracle's Larry Ellison

According to a regulatory filing, billionaire Elon Musk has made an offer of $41.39 billion to buy social microblogging site, Twitter.&nbsp; &nbsp;

Musk’s relationship with this social media platform is quite long. After holding numerous polls on it, the Tesla CEO had recently suggested a raft of changes for the platform. He was also going to join its board of directors but later abandoned the plan. Elon Musk was also reportedly sued by the shareholders of Twitter. &nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/russias-ukraine-invasion-costs-us-company-boeing-over-90-jet-orders-470797" hreflang="en">Russia's Ukraine invasion costs US company Boeing over 90 jet orders&nbsp;</a>

The billionaire is offering a price of $54.20 per share. It was disclosed in the filing on Thursday. He has looked to give a 38% premium over the closing price of stock of Twitter on April 1. It was the last day of trading before Musk's investment of over 9% in the firm was announced publicly. &nbsp;

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I made an offer <a href="https://t.co/VvreuPMeLu">https://t.co/VvreuPMeLu</a>
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In pre-market trading, the shares of Twitter have also jumped by around 12%. &nbsp;

Watch | Gravitas: Elon Musk offers to buy Twitter

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In a letter to Twitter Chairman Bret Taylor, Musk, said, "Since making my investment, I now realise the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder." &nbsp;

(With inputs from agencies)&nbsp;

According to a regulatory filing, billionaire Elon Musk has made an offer of $41.39 billion to buy social microblogging site, Twitter. Musk’s relationship with this social media platform is quite long.

According to a regulatory filing, billionaire Elon Musk has made an offer of $41.39 billion to buy social microblogging site, Twitter. Musk’s relationship with this social media platform is quite long. After holding numerous polls on it, the Tesla CEO had recently suggested a raft of changes for the platform. He was also going to join its board of directors but later abandoned the plan. Elon Musk was also reportedly sued by the shareholders of Twitter. Also Read: Russia's Ukraine invasion costs US company Boeing over 90 jet orders The billionaire is offering a price of $54.20 per share. It was disclosed in the filing on Thursday. He has looked to give a 38% premium over the closing price of stock of Twitter on April 1. It was the last day of trading before Musk's investment of over 9% in the firm was announced publicly. I made an offer https://t.co/VvreuPMeLu — Elon Musk (@elonmusk) April 14, 2022 × In pre-market trading, the shares of Twitter have also jumped by around 12%. Watch | Gravitas: Elon Musk offers to buy Twitter × In a letter to Twitter Chairman Bret Taylor, Musk, said, "Since making my investment, I now realise the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder." (With inputs from agencies)

Elon Musk looks to 'solidify relationship' with Twitter, offers to buy for $41.39 billion

Lillie Walsh Dudley and Andy Dudley wanted to be homeowners. The couple, who have a 5-year-old son, had been renting in the South Slope neighborhood in the New York City borough of Brooklyn since 2014. They began looking for something to buy about three years ago.

“Even though we’re not rolling in money, we had a little bit of savings,” said Lillie Walsh Dudley, 41, who works in book publishing, as does Andy Dudley, 45. Still, not enough to buy in Brooklyn. “Anything we could possibly afford would be a stretch and a downgrade from our rental.”

Then the pandemic hit, and their apartment suddenly felt small and the city itself felt claustrophobic. The couple decided to try another house hunt.

This time, instead of looking in Brooklyn, they looked farther out — much farther. Their plan: Keep their rental and buy a second home about three hours away in the Catskills. In August 2020, they paid $221,000 for a move-in ready, 100-year-old house in Roxbury, New York.

A growing number of first-time buyers are doing what the Dudleys did — purchasing a second home while renting their main residence. Though there isn’t data to track this trend, real estate agents and industry observers say a combination of rapidly rising home prices and pandemic work-from-home flexibility has prompted some hopeful homeowners to skip the first step — owning a primary home — and go straight to buying a second home in a more affordable location.

Vacation home purchases in general boomed during the pandemic. In 2020, loan applications for vacation homes were up 30% from 2019, according to the most recently available data from the Home Mortgage Disclosure Act. Zillow, a real estate website, looked at homes for sale in vacation and weekend destinations, and in January 2019 one-quarter of those markets had more page views per home than typical markets. By January 2022, half of them did.

Historically low interest rates and an unpredictable stock market have made real estate an appealing investment category during the past few years, said Richard K. Green, the director of the University of Southern California Lusk Center for Real Estate. But rapid price appreciation has put homeownership out of reach for buyers who don’t already have equity in the market or very high income, particularly in already-pricey metro areas like New York and Los Angeles.

Indeed first-time homeownership nationwide has been falling dramatically. In 2009, first-timers made up 45% of the homebuying market, but by January 2022 they represented just 27%, according to the National Association of Realtors. And with median home prices up 13.7% from a year ago, the challenges are mounting.

“Even if you’re being paid really well, accumulating a down payment for a million-dollar house is really hard,” Green said. “But you want to own somewhere, you want to get into the market.”

Which is why some first-timers are getting creative. Virginia Alber-Glanstaetten, 51, and Becky Goodman, 35, who are renters in the Dumbo neighborhood in Brooklyn, said COVID-era lifestyle changes, including remote work, prompted them to buy their first home together near Provincetown, Massachusetts, where they have vacationed for years. Their budget of $800,000 for a primary home wouldn’t have gotten them much more space than they already had in Brooklyn, they said. But on Cape Cod, where they bought, there were more options within their budget, which was about $600,000 after setting aside enough to keep paying rent in Brooklyn.

In March 2021, they paid $605,000 for a 220-year-old fixer-upper on 1.3 acres in North Truro, Massachusetts. “Everyone in my family thought I was insane and that it was the backward way of doing things,” said Goodman.

The home they bought had long ago been converted from a single family into three separate units, which was part of the appeal. The couple plans to stay in one of the units while renting out the others as investment income. With their jobs still partially remote, they have been spending weeks at a time in Cape Cod, while keeping their rental as a home base closer to friends and work. (Goodman works in human resources and Alber-Glanstaetten works in health care advertising strategy.)

The appeal of living in multiple places has grown in recent years with an increase in “nomadic” living, says Austin Allison, CEO and co-founder of Pacaso, a company that sells a fractional ownership model for second homes, allowing buyers to purchase a share of a home to use occasionally. “We see a growing cohort of people who might buy four shares of four homes around the world,” he said.

Some say it’s like having the best of both worlds. “The Cape Cod house has become this really beautiful escape,” said Goodman. “And we like having our resident footprint here in the city and doing the things we love here.”

Dylan Beaumont, 33, who owns a house in the Catskills and rents in Manhattan, put it this way: “If I’m up here for a week or a week and a half, it’s like, ‘I want to go to the city and get Thai food and see some friends,’” he said. “Then you get sick of the city, and you come up here and go hiking.” He and his fiancee, Susanah Zeffiro, 32, purchased in Margaretville, New York, in August 2020, pivoting from their original, pre-pandemic plan to buy a place in the city.

They paid $565,000 for the Catskills home and have spent more time there than they initially thought they would, with the prolonged nature of the pandemic. Beaumont and Zeffiro’s jobs in advertising are still partially remote, but they often have to meet with clients in the city or travel for work. “I love the balance,” Beaumont said.

But first-time buyers can face unique challenges when it comes to owning a home in a rural location, especially those more used to apartment living. Beaumont’s house is on about 20 acres and, at one point, he and Zeffiro discovered there was an underground oil tank on the property, which they had to have removed — a problem that would not have come up had they bought a condo in Manhattan.

They’ve also had smaller headaches to deal with, like replacing the hot water heater, dishwasher and the washer and dryer. “We’re learning lots of first-time homebuyer lessons here,” Beaumont said.

Alber-Glanstaetten and Goodman described their Cape Cod house as “ramshackle with a vision.” Renovations are ongoing, which means they often have to travel last-minute for contractor meetings and troubleshooting. “As first-time buyers we had no idea what we were getting into,” said Alber-Glanstaetten.

Although the cost of buying in a rural area can be significantly lower than in the city, the pandemic buying spree has meant competition has been fierce. Last year, first-time buyers Anna Lewkowska and Alex McKean bought a second home in Yucca Valley, California, near Joshua Tree National Park. They put in offers on three different houses before landing the winning bid on a two-bedroom, 1 1/2 bathroom house with about 2,000 square feet and panoramic views. They paid $517,000 — more than $120,000 over the list price.

That’s still a fraction of what it would have cost them to own a home in Santa Monica, California, where the median price today is $1.9 million, according to Realtor.com. Lewkowska, 31, who owns a talent management business, and McKean, 32, who works in product management for a pipe manufacturing company, said they love where they live near the beach in Santa Monica, but they knew homeownership was not affordable there. “We know that real estate is a great investment,” said Lewkowska. “But here in Los Angeles, it’s extremely expensive.”

They’ve spent the past year going back and forth between the two places while renovating the Yucca Valley property, doing some of the work themselves. They’ve dubbed the house the Mandarin Escape and describe the design style as “modern retro” with gold fixtures and a sunset, ‘70s color theme. The plan is to rent it out on Airbnb, starting later this spring. Lewkowska said they think they can charge between $250 and $1,000 a night, depending on the season. “It was the basic economics of it, for us,” McKean said.

Other first-timers are buying second homes now with the idea of moving into them later on. Jackie Puerta, a 48-year-old ultrasound technician who lives in North Bergen, New Jersey, said she became enamored with Miami in the ’80s watching “Miami Vice,” the TV show. Earlier this year, she bought a 16th-floor condo in Miami’s Edgewater neighborhood for $310,000. She spent the first few weeks staying at the condo on an air mattress. “Just to wake up to that view, it was all worth it,” she said.

Though her job is in New York, she plans to move to Florida within the next two years. Until then, she’s renting the place to long-term tenants to cover her mortgage and other monthly expenses. “I’m very surprised that I pulled this off,” she said. “I always wanted to do it.”

One unexpected benefit of such arrangements? First-time second-home buyers say it can reaffirm how convenient rental life can be. “It’s opened my eyes to what a luxury renting is,” said Beaumont. “It’s like, hey, my washing machine is broken. And a person just comes and fixes it.”

Dudley, the Park Slope renter who owns a Catskills house, said one of the things they like about their arrangement is that they didn’t have to leave her landlady, who Dudley described as a “gem of a human” who takes great care of their apartment and has never raised the rent.

Though there’s no guarantee, some have used the equity they’ve built in their second home to purchase a primary home. Abbey Londer, 36, and Ahmed Bharoocha, 38, recently took out a home equity line of credit on a house they own in Big Bear, California, to buy a primary home in Monrovia, California, just outside of Los Angeles. “I never really imagined I’d ever be able to own anything in LA proper,” said Londer. In 2019, the longtime renters paid $425,000 for a three-bedroom, two-bathroom house in Big Bear, about two hours away. The house rents for between $350 and $950 a night, depending on the season, according to Londer. That income came in handy during the beginning of the pandemic, when her job in live events and her husband’s work as an actor and stand-up comedian dried up for several months.

Last year, the couple, who have a 4-year-old and an 8-month-old, paid $1.36 million for a 2,000-square-foot circa-1911 Craftsman home. “I didn’t even know this was achievable,” Londer said. “Buying that house in Big Bear was a life-changing thing for us.”

Lillie Walsh Dudley and Andy Dudley wanted to be homeowners. The couple, who have a 5-year-old son, had been renting in the South Slope neighborhood in the New York City borough of Brooklyn since 2014.

Lillie Walsh Dudley and Andy Dudley wanted to be homeowners. The couple, who have a 5-year-old son, had been renting in the South Slope neighborhood in the New York City borough of Brooklyn since 2014. They began looking for something to buy about three years ago. “Even though we’re not rolling in money, we had a little bit of savings,” said Lillie Walsh Dudley, 41, who works in book publishing, as does Andy Dudley, 45. Still, not enough to buy in Brooklyn. “Anything we could possibly afford would be a stretch and a downgrade from our rental.” Then the pandemic hit, and their apartment suddenly felt small and the city itself felt claustrophobic. The couple decided to try another house hunt. This time, instead of looking in Brooklyn, they looked farther out — much farther. Their plan: Keep their rental and buy a second home about three hours away in the Catskills. In August 2020, they paid $221,000 for a move-in ready, 100-year-old house in Roxbury, New York. A growing number of first-time buyers are doing what the Dudleys did — purchasing a second home while renting their main residence. Though there isn’t data to track this trend, real estate agents and industry observers say a combination of rapidly rising home prices and pandemic work-from-home flexibility has prompted some hopeful homeowners to skip the first step — owning a primary home — and go straight to buying a second home in a more affordable location. Vacation home purchases in general boomed during the pandemic. In 2020, loan applications for vacation homes were up 30% from 2019, according to the most recently available data from the Home Mortgage Disclosure Act. Zillow, a real estate website, looked at homes for sale in vacation and weekend destinations, and in January 2019 one-quarter of those markets had more page views per home than typical markets. By January 2022, half of them did. Historically low interest rates and an unpredictable stock market have made real estate an appealing investment category during the past few years, said Richard K. Green, the director of the University of Southern California Lusk Center for Real Estate. But rapid price appreciation has put homeownership out of reach for buyers who don’t already have equity in the market or very high income, particularly in already-pricey metro areas like New York and Los Angeles. Indeed first-time homeownership nationwide has been falling dramatically. In 2009, first-timers made up 45% of the homebuying market, but by January 2022 they represented just 27%, according to the National Association of Realtors. And with median home prices up 13.7% from a year ago, the challenges are mounting. “Even if you’re being paid really well, accumulating a down payment for a million-dollar house is really hard,” Green said. “But you want to own somewhere, you want to get into the market.” Which is why some first-timers are getting creative. Virginia Alber-Glanstaetten, 51, and Becky Goodman, 35, who are renters in the Dumbo neighborhood in Brooklyn, said COVID-era lifestyle changes, including remote work, prompted them to buy their first home together near Provincetown, Massachusetts, where they have vacationed for years. Their budget of $800,000 for a primary home wouldn’t have gotten them much more space than they already had in Brooklyn, they said. But on Cape Cod, where they bought, there were more options within their budget, which was about $600,000 after setting aside enough to keep paying rent in Brooklyn. In March 2021, they paid $605,000 for a 220-year-old fixer-upper on 1.3 acres in North Truro, Massachusetts. “Everyone in my family thought I was insane and that it was the backward way of doing things,” said Goodman. The home they bought had long ago been converted from a single family into three separate units, which was part of the appeal. The couple plans to stay in one of the units while renting out the others as investment income. With their jobs still partially remote, they have been spending weeks at a time in Cape Cod, while keeping their rental as a home base closer to friends and work. (Goodman works in human resources and Alber-Glanstaetten works in health care advertising strategy.) The appeal of living in multiple places has grown in recent years with an increase in “nomadic” living, says Austin Allison, CEO and co-founder of Pacaso, a company that sells a fractional ownership model for second homes, allowing buyers to purchase a share of a home to use occasionally. “We see a growing cohort of people who might buy four shares of four homes around the world,” he said. Some say it’s like having the best of both worlds. “The Cape Cod house has become this really beautiful escape,” said Goodman. “And we like having our resident footprint here in the city and doing the things we love here.” Dylan Beaumont, 33, who owns a house in the Catskills and rents in Manhattan, put it this way: “If I’m up here for a week or a week and a half, it’s like, ‘I want to go to the city and get Thai food and see some friends,’” he said. “Then you get sick of the city, and you come up here and go hiking.” He and his fiancee, Susanah Zeffiro, 32, purchased in Margaretville, New York, in August 2020, pivoting from their original, pre-pandemic plan to buy a place in the city. They paid $565,000 for the Catskills home and have spent more time there than they initially thought they would, with the prolonged nature of the pandemic. Beaumont and Zeffiro’s jobs in advertising are still partially remote, but they often have to meet with clients in the city or travel for work. “I love the balance,” Beaumont said. But first-time buyers can face unique challenges when it comes to owning a home in a rural location, especially those more used to apartment living. Beaumont’s house is on about 20 acres and, at one point, he and Zeffiro discovered there was an underground oil tank on the property, which they had to have removed — a problem that would not have come up had they bought a condo in Manhattan. They’ve also had smaller headaches to deal with, like replacing the hot water heater, dishwasher and the washer and dryer. “We’re learning lots of first-time homebuyer lessons here,” Beaumont said. Alber-Glanstaetten and Goodman described their Cape Cod house as “ramshackle with a vision.” Renovations are ongoing, which means they often have to travel last-minute for contractor meetings and troubleshooting. “As first-time buyers we had no idea what we were getting into,” said Alber-Glanstaetten. Although the cost of buying in a rural area can be significantly lower than in the city, the pandemic buying spree has meant competition has been fierce. Last year, first-time buyers Anna Lewkowska and Alex McKean bought a second home in Yucca Valley, California, near Joshua Tree National Park. They put in offers on three different houses before landing the winning bid on a two-bedroom, 1 1/2 bathroom house with about 2,000 square feet and panoramic views. They paid $517,000 — more than $120,000 over the list price. That’s still a fraction of what it would have cost them to own a home in Santa Monica, California, where the median price today is $1.9 million, according to Realtor.com. Lewkowska, 31, who owns a talent management business, and McKean, 32, who works in product management for a pipe manufacturing company, said they love where they live near the beach in Santa Monica, but they knew homeownership was not affordable there. “We know that real estate is a great investment,” said Lewkowska. “But here in Los Angeles, it’s extremely expensive.” They’ve spent the past year going back and forth between the two places while renovating the Yucca Valley property, doing some of the work themselves. They’ve dubbed the house the Mandarin Escape and describe the design style as “modern retro” with gold fixtures and a sunset, ‘70s color theme. The plan is to rent it out on Airbnb, starting later this spring. Lewkowska said they think they can charge between $250 and $1,000 a night, depending on the season. “It was the basic economics of it, for us,” McKean said. Other first-timers are buying second homes now with the idea of moving into them later on. Jackie Puerta, a 48-year-old ultrasound technician who lives in North Bergen, New Jersey, said she became enamored with Miami in the ’80s watching “Miami Vice,” the TV show. Earlier this year, she bought a 16th-floor condo in Miami’s Edgewater neighborhood for $310,000. She spent the first few weeks staying at the condo on an air mattress. “Just to wake up to that view, it was all worth it,” she said. Though her job is in New York, she plans to move to Florida within the next two years. Until then, she’s renting the place to long-term tenants to cover her mortgage and other monthly expenses. “I’m very surprised that I pulled this off,” she said. “I always wanted to do it.” One unexpected benefit of such arrangements? First-time second-home buyers say it can reaffirm how convenient rental life can be. “It’s opened my eyes to what a luxury renting is,” said Beaumont. “It’s like, hey, my washing machine is broken. And a person just comes and fixes it.” Dudley, the Park Slope renter who owns a Catskills house, said one of the things they like about their arrangement is that they didn’t have to leave her landlady, who Dudley described as a “gem of a human” who takes great care of their apartment and has never raised the rent. Though there’s no guarantee, some have used the equity they’ve built in their second home to purchase a primary home. Abbey Londer, 36, and Ahmed Bharoocha, 38, recently took out a home equity line of credit on a house they own in Big Bear, California, to buy a primary home in Monrovia, California, just outside of Los Angeles. “I never really imagined I’d ever be able to own anything in LA proper,” said Londer. In 2019, the longtime renters paid $425,000 for a three-bedroom, two-bathroom house in Big Bear, about two hours away. The house rents for between $350 and $950 a night, depending on the season, according to Londer. That income came in handy during the beginning of the pandemic, when her job in live events and her husband’s work as an actor and stand-up comedian dried up for several months. Last year, the couple, who have a 4-year-old and an 8-month-old, paid $1.36 million for a 2,000-square-foot circa-1911 Craftsman home. “I didn’t even know this was achievable,” Londer said. “Buying that house in Big Bear was a life-changing thing for us.”

When your second home is the first one you buy

In what is said to be the biggest acquisition in gaming history, the maker of 'Grand Theft Auto' to buy 'Farmville' maker Zynga.

Biggest acquisition in gaming history: Maker of 'Grand Theft Auto' to buy Farmville maker Zynga

If you want to buy alcohol or cannabis in Canada’s province of Quebec at government-funded stores, you will soon have to show a COVID-19 vaccination proof first. &nbsp; &nbsp;

The plan seems to have been brought into existence to encourage people to get vaccine.&nbsp; &nbsp; &nbsp;&nbsp;

During a press conference on Thursday, Health Minister Christian Dubé announced the new directive. &nbsp; &nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/pfizer-vaccine-protects-children-against-this-rare-covid-complication-443352" hreflang="en">Pfizer vaccine protects children against this 'rare' Covid complication</a>

Dubé said that the officials will determine a final date once all the citizens have got the chance to get a third shot. &nbsp; &nbsp;

"If the unvaccinated aren't happy with this situation, there is a very simple solution at your disposal. It is to get vaccinated. It's free,” the minister said. &nbsp;&nbsp;

"If you don’t want to get vaccinated, stay home," he added. &nbsp; &nbsp;

According to Dubé, the government has been limiting the places accessible to unvaccinated people to limit their contacts and reduce the risk of transmitting the virus. &nbsp;&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/deeply-disturbed-us-condemns-attack-on-a-sikh-cab-driver-at-jfk-airport-443284" hreflang="en">'Deeply disturbed': US condemns attack on a Sikh cab driver at JFK airport</a>

The new measure is an expansion of the vaccination passport system. It will require three doses (including a booster) to qualify. &nbsp; &nbsp;

For residents in the age group of 50 or more, the government has given access to the booster shots. The officials will soon expand the access to all adults as of January 17, CBC reported. &nbsp; &nbsp;

(With inputs from agencies)

If you want to buy alcohol or cannabis in Canada’s province of Quebec at government-funded stores, you will soon have to show a COVID-19 vaccination proof first.

If you want to buy alcohol or cannabis in Canada’s province of Quebec at government-funded stores, you will soon have to show a COVID-19 vaccination proof first. The plan seems to have been brought into existence to encourage people to get vaccine. During a press conference on Thursday, Health Minister Christian Dubé announced the new directive. Also Read: Pfizer vaccine protects children against this 'rare' Covid complication Dubé said that the officials will determine a final date once all the citizens have got the chance to get a third shot. "If the unvaccinated aren't happy with this situation, there is a very simple solution at your disposal. It is to get vaccinated. It's free,” the minister said. "If you don’t want to get vaccinated, stay home," he added. According to Dubé, the government has been limiting the places accessible to unvaccinated people to limit their contacts and reduce the risk of transmitting the virus. Also Read: 'Deeply disturbed': US condemns attack on a Sikh cab driver at JFK airport The new measure is an expansion of the vaccination passport system. It will require three doses (including a booster) to qualify. For residents in the age group of 50 or more, the government has given access to the booster shots. The officials will soon expand the access to all adults as of January 17, CBC reported. (With inputs from agencies)

Covid jab proof needed to buy alcohol or cannabis in Canada’s province soon    

EU Commission chief Ursula von der Leyen announced plans on Wednesday for a major contract extension for Covid-19 vaccines with Pfizer stretching to 2023.&nbsp;

In a sign of confidence in a company that has been a mainstay of Europe's vaccination drive so far, von der Leyen said the EU will start negotiating to buy 1.8 billion doses of the Pfizer-BioNTech vaccine through 2023.&nbsp;

Von der Leyen expressed full confidence in the technology used for the Pfizer-BioNTech vaccine, which is different from the technology behind the Oxford-AstraZeneca vaccine.&nbsp;

"We need to focus on the technologies that have proven their worth," von der Leyen said.&nbsp;

Pfizer-BioNTech plans to provide the EU with an extra 50 million dozes in the second quarter of this year, on top of 200 million doses already earmarked for the bloc. The deliveries will be especially welcomed by the EU's 27 member nations considering supply delays and concerns over rare blood clots potentially linked to the Oxford-AstraZeneca vaccine. &nbsp;

Denmark decided on Wednesday not to resume use of AstraZeneca Covid-19 vaccine after putting it on hold last month following reports of rare blood clots in some recipients. The bulk of the shots given in the Scandinavian country so far have been the Pfizer-BioNTech vaccine.&nbsp;

The European Commission currently has a portfolio of 2.3 billion doses from a half dozen companies and is negotiating more contracts.&nbsp;

The planned negotiations with Pfizer left in the middle what the EU would do about any new contracts with AstraZeneca, which has had massive delivery problems during the first quarter and expects to send far fewer vaccines than its contract with the EU called for during the second quarter. &nbsp;

The European Commission said in a statement, "We keep all options open to be prepared for the next stages of the pandemic, for 2022 and beyond. We can, however, not comment on contractual issues." Von der Leyen, however, showed her full support for Pfizer-BioNTech, with the announcement for the massive order. &nbsp;

(With inputs from agencies)&nbsp;

EU Commission chief Ursula von der Leyen announced plans on Wednesday for a major contract extension for Covid-19 vaccines with Pfizer stretching to 2023. In a sign of confidence in a company that has been a mainstay of Europe's vaccination drive so far, von der Leyen said the EU will start negotiating to buy 1.

EU Commission chief Ursula von der Leyen announced plans on Wednesday for a major contract extension for Covid-19 vaccines with Pfizer stretching to 2023. In a sign of confidence in a company that has been a mainstay of Europe's vaccination drive so far, von der Leyen said the EU will start negotiating to buy 1.8 billion doses of the Pfizer-BioNTech vaccine through 2023. Von der Leyen expressed full confidence in the technology used for the Pfizer-BioNTech vaccine, which is different from the technology behind the Oxford-AstraZeneca vaccine. "We need to focus on the technologies that have proven their worth," von der Leyen said. Pfizer-BioNTech plans to provide the EU with an extra 50 million dozes in the second quarter of this year, on top of 200 million doses already earmarked for the bloc. The deliveries will be especially welcomed by the EU's 27 member nations considering supply delays and concerns over rare blood clots potentially linked to the Oxford-AstraZeneca vaccine. Denmark decided on Wednesday not to resume use of AstraZeneca Covid-19 vaccine after putting it on hold last month following reports of rare blood clots in some recipients. The bulk of the shots given in the Scandinavian country so far have been the Pfizer-BioNTech vaccine. The European Commission currently has a portfolio of 2.3 billion doses from a half dozen companies and is negotiating more contracts. The planned negotiations with Pfizer left in the middle what the EU would do about any new contracts with AstraZeneca, which has had massive delivery problems during the first quarter and expects to send far fewer vaccines than its contract with the EU called for during the second quarter. The European Commission said in a statement, "We keep all options open to be prepared for the next stages of the pandemic, for 2022 and beyond. We can, however, not comment on contractual issues." Von der Leyen, however, showed her full support for Pfizer-BioNTech, with the announcement for the massive order. (With inputs from agencies)

EU looks to buy 1.8 billion doses of Pfizer vaccine through 2023 

Tata Sons Friday confirmed its interest in acquiring the beleaguered Jet Airways but said no concrete "proposal" has been made by the group so far.

The Tatas, which already run two carriers-- the full- service Vistara in a joint venture with Singapore Airlines (SIA) and AirAsia India in a similar arrangement with Malaysian carrier Air Asia--have widely speculated to be planning to acquire Naresh Goyal-controlled airline with it's the Singaporean partner.

"Over the last few days there has been growing speculation about Tata's interest in Jet Airways. We would like to clarify that any such discussions (to acquire Jet Airways) have been preliminary and no proposal has been made," Tata Sons said in a statement after a marathon five-hour board meeting at the headquarters here.

Addressing the analysts at the post-earnings concall, earlier this week, Jet Airways' deputy chief executive and chief financial officer Amit Agarwal had admitted that the airline was in talks with "multiple interested parties" for fund infusion as well as stake in its loyalty progarmme Jet Privilege.

Besides Goyal,who along with his family owns 51 per cent stake in the company, Gulf carrier Etihad Airways owns 24 per cent in the cash-strapped airline which has been delaying salaries and payments to vendors for many months now.

Media reports suggest that the parent company of Vistara, Tata Sons-Singapore Airlines, is looking at an all- stock merger of Jet Airways as part of the Tata group's plans to board Goyal's full service carrier, which is grappling with cash crunch and mounting losses.

The airline earlier this week reported a net loss of Rs 1,261 crore in the September quarter against a profit of Rs 71 crore y-o-y, making it the third straight quarters of heavy losses.

The two sides are reportedly inching towards a two- step transaction that would first see Jet merging with Tata- SIA joint venture through a share swap to form a new JV, which will have the Goyal family, Etihad, Tata Sons and Singapore Airlines as its partners. But a bone of contention is the Tatas' insistence on Goyal completely leaving the airline which he built 25 years ago.

However, in an exchange filing Thursday, Jet Airways described the media reports as speculative.

Reports also suggest in the eventuality of the Tata Group taking over Jet Airways, it might exit from AirAsia India, which has so far not been very aggressive in a market that has been clipping at 20 per cent on the back of a prolonged low-fare regime.

Jet, which along with its subsidiary JetLite flies 66 domestic and international destinations, has a combined fleet of 124 planes and enjoys 15.8 per cent market share, while Vistara, which has a low 3.8 per cent market share, on a fleet of 22 planes and flies to as many destinations.

On the other hand, AirAsia India accounts for just 4.4 per cent of the total domestic passenger traffic with a fleet of 19 planes. 
Besides, a merger of the two carriers will also allow Vistara will propel its plans to go international, which are currently reportedly stuck in the Rajiv Bhawan (which house civil aviation ministry) files.

Way back in 2008, the erstwhile Kingfisher Airlines had resorted to a similar move when it acquired the domestic low-cost pioneer Air Deccan to go international as it had not completed five years into domestic flying, which was mandatory for airlines at that time for overseas operations.

The merger talks have sent the Jet counter soaring over 40 per cent in the past five trading sessions alone. It soared over 26.41 per cent Thursday and rallied over 14 percent early Friday but closed with an over 8 per cent gain at Rs 346.85 on the BSE, whose index jumped 0.56 percent.

There are also rumours that the Tatas are being nudged by government. However, government has denied that it is brokering the deal or asked has bankers to take a haircut on Jet debt to sweeten the deal.

"The aviation ministry is not involved in this process so far. Hence any question of haircut (by banks and other stakeholders like Airports Authority) etc does not arise," aviation secretary RN Choubey told PTI Thursday.&nbsp;

Tata Sons Friday confirmed its interest in acquiring the beleaguered Jet Airways but said no concrete "proposal" has been made by the group so far. The Tatas, which already run two carriers-- the full- service Vistara in a joint venture with Singapore Airlines (SIA) and AirAsia India in a similar arrangement with Malaysian carrier Air Asia--have widely speculated to be planning to acquire Naresh Goyal-controlled airline with it's the Singaporean partner.

Tata Sons Friday confirmed its interest in acquiring the beleaguered Jet Airways but said no concrete "proposal" has been made by the group so far. The Tatas, which already run two carriers-- the full- service Vistara in a joint venture with Singapore Airlines (SIA) and AirAsia India in a similar arrangement with Malaysian carrier Air Asia--have widely speculated to be planning to acquire Naresh Goyal-controlled airline with it's the Singaporean partner. "Over the last few days there has been growing speculation about Tata's interest in Jet Airways. We would like to clarify that any such discussions (to acquire Jet Airways) have been preliminary and no proposal has been made," Tata Sons said in a statement after a marathon five-hour board meeting at the headquarters here. Addressing the analysts at the post-earnings concall, earlier this week, Jet Airways' deputy chief executive and chief financial officer Amit Agarwal had admitted that the airline was in talks with "multiple interested parties" for fund infusion as well as stake in its loyalty progarmme Jet Privilege. Besides Goyal,who along with his family owns 51 per cent stake in the company, Gulf carrier Etihad Airways owns 24 per cent in the cash-strapped airline which has been delaying salaries and payments to vendors for many months now. Media reports suggest that the parent company of Vistara, Tata Sons-Singapore Airlines, is looking at an all- stock merger of Jet Airways as part of the Tata group's plans to board Goyal's full service carrier, which is grappling with cash crunch and mounting losses. The airline earlier this week reported a net loss of Rs 1,261 crore in the September quarter against a profit of Rs 71 crore y-o-y, making it the third straight quarters of heavy losses. The two sides are reportedly inching towards a two- step transaction that would first see Jet merging with Tata- SIA joint venture through a share swap to form a new JV, which will have the Goyal family, Etihad, Tata Sons and Singapore Airlines as its partners. But a bone of contention is the Tatas' insistence on Goyal completely leaving the airline which he built 25 years ago. However, in an exchange filing Thursday, Jet Airways described the media reports as speculative. Reports also suggest in the eventuality of the Tata Group taking over Jet Airways, it might exit from AirAsia India, which has so far not been very aggressive in a market that has been clipping at 20 per cent on the back of a prolonged low-fare regime. Jet, which along with its subsidiary JetLite flies 66 domestic and international destinations, has a combined fleet of 124 planes and enjoys 15.8 per cent market share, while Vistara, which has a low 3.8 per cent market share, on a fleet of 22 planes and flies to as many destinations. On the other hand, AirAsia India accounts for just 4.4 per cent of the total domestic passenger traffic with a fleet of 19 planes. Besides, a merger of the two carriers will also allow Vistara will propel its plans to go international, which are currently reportedly stuck in the Rajiv Bhawan (which house civil aviation ministry) files. Way back in 2008, the erstwhile Kingfisher Airlines had resorted to a similar move when it acquired the domestic low-cost pioneer Air Deccan to go international as it had not completed five years into domestic flying, which was mandatory for airlines at that time for overseas operations. The merger talks have sent the Jet counter soaring over 40 per cent in the past five trading sessions alone. It soared over 26.41 per cent Thursday and rallied over 14 percent early Friday but closed with an over 8 per cent gain at Rs 346.85 on the BSE, whose index jumped 0.56 percent. There are also rumours that the Tatas are being nudged by government. However, government has denied that it is brokering the deal or asked has bankers to take a haircut on Jet debt to sweeten the deal. "The aviation ministry is not involved in this process so far. Hence any question of haircut (by banks and other stakeholders like Airports Authority) etc does not arise," aviation secretary RN Choubey told PTI Thursday.

Tatas confirm in preliminary talks with Jet Airways for a deal

Ride-hailing firm Didi Chuxing said on Monday that it will buy Uber&#39;s China operations, in a deal that will give Uber a stake in the company and end bruising competition between the two. 
 
The deal is valued at $35 billion, according to a source familiar with the matter who didn&#39;t want to be named before the deal was made public, combining Didi&#39;s $28 billion worth and Uber China&#39;s $7 billion valuation. Didi confirmed the agreement on its official microblog, but gave no valuation. 
 
San Francisco-based Uber Technologies will receive a 5.89 per cent stake in Didi, but will have disproportionate &quot;economic interests&quot; of 17.7 per cent with another 2.3 per cent interest going to Uber China shareholders. 
 
Uber will continue to operate independently, the Didi posting said. &quot;Cooperating with Uber will give the entire mobile travel industry a healthier order and a period of a higher level of development,&quot; it said. 
 
Uber CEO Travis Kalanick will join Didi&#39;s board, while Didi Chuxing chief Cheng Wei is joining the Uber board. 
 
In an internal message to staff viewed by Reuters, Kalanick wrote: &quot;Sustainably serving China&#39;s cities, and the riders and drivers who live in them, is only possible with profitability. This merger paves the way for our team and Didi&#39;s to partner on an enormous mission, and it frees up substantial resources for bold initiatives focused on the future of cities - from self-driving technology to the future of food and logistics.&quot; 
 
He said Uber was operating in more than 60 cities in China and serving more than 40 million rides a week. 
 
Challenging China 
 
China has been a challenging market for Uber, which has been burning through more than $1 billion a year in a price war with Didi. Uber is profitable in the United States, Canada and about 100 other cities. 
 
&quot;It makes huge sense. Uber faces an uphill task in China especially since Didi is multiple times larger by transaction value and city coverage,&quot; said Hong Kong-based Richard Ji, co-founder of All-Stars Investment Ltd, which manages about $900 million and owns Didi stock. 
 
&quot;This will lead to favourable outcomes for both companies. The biggest benefit is cost savings, they no longer have to give out subsidies to drivers and passengers. It will give pricing power as the new entity will become the dominant player. That means profitability will come sooner than later,&quot; he added. 
 
Under the deal, Didi will also invest $1 billion in Uber, which operates globally outside China, the source said, adding to a series of deals and joint ventures Didi has struck in recent years. 
 
International Ambition 
 
Analysts said Didi&#39;s latest move is a signal of its readiness to step beyond its home market. 
 
&quot;This clearly shows Didi&#39;s global ambitions and its desire to work together with Uber to tap Chinese travelers, who are going out in big numbers. There&#39;s a possibility the two could work together in other markets,&quot; All-Stars Investment&#39;s Ji said. 
 
Didi said in its posting it will look to expand its international business and enter markets like Hong Kong, Taiwan, Macau, Japan, South Korea, Europe and Russia. 
 
Didi, itself created last year from a merger of two firms backed respectively by e-commerce giant Alibaba Group and social network firm Tencent, has invested $100 million in Lyft, Uber&#39;s main rival in the United States. 
 
It has also formed an alliance with Lyft, India&#39;s ride service Ola and Southeast Asia&#39;s ride-hailing startup Grab in an effort to compete with Uber&#39;s global dominance. 
 
The deal is the latest sign of a global Internet or technology company struggling to break into China&#39;s cut-throat market, where local entrepreneurs have built formidable businesses, partly helped by a supportive government. 
 
All of China&#39;s technology heavyweights will be stakeholders in Didi, as Uber shareholder Baidu will gain a stake. Apple Inc recently made a rare $1 billion investment in Didi. 
 
China last week issued guidelines that establish a long-awaited framework for the booming ride-hailing industry and remove uncertainty for firms such as Didi and Uber. 
 
(Reuters)

China has been a challenging market for Uber, which has been burning through more than $1 billion a year in a price war with Didi

Ride-hailing firm Didi Chuxing said on Monday that it will buy Uber's China operations, in a deal that will give Uber a stake in the company and end bruising competition between the two. The deal is valued at $35 billion, according to a source familiar with the matter who didn't want to be named before the deal was made public, combining Didi's $28 billion worth and Uber China's $7 billion valuation. Didi confirmed the agreement on its official microblog, but gave no valuation. San Francisco-based Uber Technologies will receive a 5.89 per cent stake in Didi, but will have disproportionate "economic interests" of 17.7 per cent with another 2.3 per cent interest going to Uber China shareholders. Uber will continue to operate independently, the Didi posting said. "Cooperating with Uber will give the entire mobile travel industry a healthier order and a period of a higher level of development," it said. Uber CEO Travis Kalanick will join Didi's board, while Didi Chuxing chief Cheng Wei is joining the Uber board. In an internal message to staff viewed by Reuters, Kalanick wrote: "Sustainably serving China's cities, and the riders and drivers who live in them, is only possible with profitability. This merger paves the way for our team and Didi's to partner on an enormous mission, and it frees up substantial resources for bold initiatives focused on the future of cities - from self-driving technology to the future of food and logistics." He said Uber was operating in more than 60 cities in China and serving more than 40 million rides a week. Challenging China China has been a challenging market for Uber, which has been burning through more than $1 billion a year in a price war with Didi. Uber is profitable in the United States, Canada and about 100 other cities. "It makes huge sense. Uber faces an uphill task in China especially since Didi is multiple times larger by transaction value and city coverage," said Hong Kong-based Richard Ji, co-founder of All-Stars Investment Ltd, which manages about $900 million and owns Didi stock. "This will lead to favourable outcomes for both companies. The biggest benefit is cost savings, they no longer have to give out subsidies to drivers and passengers. It will give pricing power as the new entity will become the dominant player. That means profitability will come sooner than later," he added. Under the deal, Didi will also invest $1 billion in Uber, which operates globally outside China, the source said, adding to a series of deals and joint ventures Didi has struck in recent years. International Ambition Analysts said Didi's latest move is a signal of its readiness to step beyond its home market. "This clearly shows Didi's global ambitions and its desire to work together with Uber to tap Chinese travelers, who are going out in big numbers. There's a possibility the two could work together in other markets," All-Stars Investment's Ji said. Didi said in its posting it will look to expand its international business and enter markets like Hong Kong, Taiwan, Macau, Japan, South Korea, Europe and Russia. Didi, itself created last year from a merger of two firms backed respectively by e-commerce giant Alibaba Group and social network firm Tencent, has invested $100 million in Lyft, Uber's main rival in the United States. It has also formed an alliance with Lyft, India's ride service Ola and Southeast Asia's ride-hailing startup Grab in an effort to compete with Uber's global dominance. The deal is the latest sign of a global Internet or technology company struggling to break into China's cut-throat market, where local entrepreneurs have built formidable businesses, partly helped by a supportive government. All of China's technology heavyweights will be stakeholders in Didi, as Uber shareholder Baidu will gain a stake. Apple Inc recently made a rare $1 billion investment in Didi. China last week issued guidelines that establish a long-awaited framework for the booming ride-hailing industry and remove uncertainty for firms such as Didi and Uber. (Reuters)

Didi Chuxing to buy Uber's China business for $35 billion deal

Oracle Corp said it would buy NetSuite Inc in a deal valued at about $9.3 billion to expand into the fast-growing cloud market. 
 
Netsuite shares rose 18.6 per cent to $108.64 in premarket trading, just shy of the offer price of $109 per share. 
 
Like rivals SAP SE and Microsoft Corp, Oracle has focused on moving its business to the cloud-based model, essentially providing services remotely via data centers rather than selling installed software. 
 
NetSuite, founded in 1998, pioneered the cloud computing revolution, by creating the first company dedicated to providing business applications over the internet. 
 
Oracle has also acquired companies such as Textura and Opower to increase its competitiveness in the cloud market. 
 
The company expects the deal to immediately add to its adjusted earnings in the first full fiscal year after the transaction closes. 
 
Oracle shares were up 1.6 per cent at $41.6 in premarket trading. 
 
(Reuters)

NetSuite pioneered cloud computing revolution by creating the first company dedicated to providing business application over the internet

Oracle Corp said it would buy NetSuite Inc in a deal valued at about $9.3 billion to expand into the fast-growing cloud market. Netsuite shares rose 18.6 per cent to $108.64 in premarket trading, just shy of the offer price of $109 per share. Like rivals SAP SE and Microsoft Corp, Oracle has focused on moving its business to the cloud-based model, essentially providing services remotely via data centers rather than selling installed software. NetSuite, founded in 1998, pioneered the cloud computing revolution, by creating the first company dedicated to providing business applications over the internet. Oracle has also acquired companies such as Textura and Opower to increase its competitiveness in the cloud market. The company expects the deal to immediately add to its adjusted earnings in the first full fiscal year after the transaction closes. Oracle shares were up 1.6 per cent at $41.6 in premarket trading. (Reuters)

Tech giant Oracle to buy cloud computing pioneer in $9.3 billion deal

India has sent a letter of request (LoR) to the US seeking to purchase patrol drones for protection and vigilance of its maritime assets in the Indian Ocean, sources said. 
 
The letter of request (LoR) sent by New Delhi last week comes less than a fortnight after India was inducted into Missile Technology 
 
Control Regime (MTCR) and recognised by the US as a &quot;major defence partner&quot; after the meeting between Prime Minister Narendra Modi and President Barack Obama, earlier this month. 
 
This is part of the Modi Government&#39;s effort to fast track its goal to secure the country&#39;s maritime assets, particularly in the Indian Ocean and, detect any untoward intrusion like the Mumbai terrorist attack. 
 
The letter seeks purchase of state-of-the-art multi-mission maritime patrol Predator Guardian UAV&#39;s (Unmanned Aerial Vehicle) from General Atomics, they said. 
 
It provides high-altitude wide area and has long endurance maritime ISR capability, which will help India to safeguard its maritime assets in the Indian Ocean, both east and west coast. 
 
Flying at an altitude of 50,000 feet these drones have the capacity to fly non-stop for more than 24 hours and monitor the movement of objects as small as a football, sources said. 
 
India had previously shown interest in purchasing these drones from the US, but the Obama administration was unable to process these request as India was not a member of MTCR. 
 
After India got the MTCR membership earlier this month, the US has started looking into the proposal and is believed to be moving ahead with the next phase of letter of acceptance. 
 
&quot;Earlier this month, President Obama and Prime Minister Modi affirmed their support for US-India cooperation in promoting maritime security,&quot; they said. 
 
The issue of drones was discussed by the Prime Minister with President Obama who gave a favourable response. 
 
Referring to the India-US joint statement on June 7 at the White House, the sources said the two leaders reiterated the importance they attach to ensure freedom of navigation and overflight and exploitation of resources as per international law, including the United Nations Convention on the Law of the Sea, and settlement of territorial disputes by peaceful means. 
 
It is estimated that India could be looking at over 250 Predator Guardian UAV&#39;s over the next few years, estimated at over USD 5 billion. 
 
&quot;Its Ground Moving Target Indicator (GMTI) mode provides a quick and easy method for locating moving vehicles,&quot; Dr Lall, an aerospace scientist said. 
 
&quot;The radar&#39;s Maritime Wide Area Search (MWAS) mode provides the capability to complete a variety of maritime missions successfully, including coastal surveillance, long-range surveillance, small target detection, and search and rescue operations. These are also equipped with an Automatic Identification System (AIS) for identifying vessels at sea,&quot; he added. 
 
(PTI)

The 'Predator Guardian' drones can fly at 50,000 feet non-stop for over 24 hours and monitor the movement of objects as small as a football

India has sent a letter of request (LoR) to the US seeking to purchase patrol drones for protection and vigilance of its maritime assets in the Indian Ocean, sources said. The letter of request (LoR) sent by New Delhi last week comes less than a fortnight after India was inducted into Missile Technology Control Regime (MTCR) and recognised by the US as a "major defence partner" after the meeting between Prime Minister Narendra Modi and President Barack Obama, earlier this month. This is part of the Modi Government's effort to fast track its goal to secure the country's maritime assets, particularly in the Indian Ocean and, detect any untoward intrusion like the Mumbai terrorist attack. The letter seeks purchase of state-of-the-art multi-mission maritime patrol Predator Guardian UAV's (Unmanned Aerial Vehicle) from General Atomics, they said. It provides high-altitude wide area and has long endurance maritime ISR capability, which will help India to safeguard its maritime assets in the Indian Ocean, both east and west coast. Flying at an altitude of 50,000 feet these drones have the capacity to fly non-stop for more than 24 hours and monitor the movement of objects as small as a football, sources said. India had previously shown interest in purchasing these drones from the US, but the Obama administration was unable to process these request as India was not a member of MTCR. After India got the MTCR membership earlier this month, the US has started looking into the proposal and is believed to be moving ahead with the next phase of letter of acceptance. "Earlier this month, President Obama and Prime Minister Modi affirmed their support for US-India cooperation in promoting maritime security," they said. The issue of drones was discussed by the Prime Minister with President Obama who gave a favourable response. Referring to the India-US joint statement on June 7 at the White House, the sources said the two leaders reiterated the importance they attach to ensure freedom of navigation and overflight and exploitation of resources as per international law, including the United Nations Convention on the Law of the Sea, and settlement of territorial disputes by peaceful means. It is estimated that India could be looking at over 250 Predator Guardian UAV's over the next few years, estimated at over USD 5 billion. "Its Ground Moving Target Indicator (GMTI) mode provides a quick and easy method for locating moving vehicles," Dr Lall, an aerospace scientist said. "The radar's Maritime Wide Area Search (MWAS) mode provides the capability to complete a variety of maritime missions successfully, including coastal surveillance, long-range surveillance, small target detection, and search and rescue operations. These are also equipped with an Automatic Identification System (AIS) for identifying vessels at sea," he added. (PTI)

India seeks to buy estimated 250 US drones for over $5 billion

Iran and US aerospace giant Boeing have reached a deal for the purchase of 100 aircraft to renew the country&#39;s ageing fleet, the head of Tehran&#39;s civil aviation authority announced today. 
 
&quot;We have 250 planes in the country, 230 need to be replaced,&quot; said Ali Abedzadeh, the head of the civil aviation body, adding that the deal still needed approval from the US government. 
 
(AFP)

Iran and US aerospace giant Boeing have reached a deal for the purchase of 100 aircraft to renew the country's ageing fleet, the head of Tehran's civil aviation authority announced today. "We have 250 planes in the country, 230 need to be replaced," said Ali Abedzadeh, the head of the civil aviation body, adding that the deal still needed approval from the US government. (AFP)

Iran, Boeing reach deal on purchase of 100 planes: Tehran

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