(RTTNews) – Below are the earnings highlights for Genworth Financial Inc. (GNW):
-Earnings: $187 million in Q1 vs. -$66 million in the same period last year. -EPS: $0.37 in Q1 vs. -$0.13 in the same period last year. -Excluding items, Genworth Financial Inc. reported adjusted earnings of $168 million or $0.33 per share for the period. -Analysts projected $0.18 per share -Revenue: $1.99 billion in Q1 vs. $1.81 billion in the same period last year.
Millennials are flocking to fixer-uppers because it’s the only way some can afford a home
As prices for homes reach record-highs, millennials are turning to fixer-uppers as a more affordable solution.
More than three-quarters (82%) said in Bank of America Research’s sixth annual millennial home improvement survey that they’re more likely to buy a fixer-upper than a newly built home. The survey polled over 1,100 members of the generation.
It’s the latest takeaway from a historic housing shortage that’s forcing millennials into their second housing crisis in 12 years. Contractors have been underbuilding since the Great Recession. The US has been about 6.5 million homes short since 2000 and is facing a two-month supply of homes when it should have had about six months, Gay Cororaton, the director of housing and commercial research for the National Association of Realtors (NAR), previously told Insider.
Millennial demand has only exacerbated the shrinking inventory. It’s led to cutthroat competition rife with bidding wars, as aspiring homebuyers throw down all-cash offers and higher down payments in hopes of snagging a house. Some of those unable to outbid are resorting to buying old homes and renovating them.
Consider the millennials who have been putting bids on fixer-uppers featured in Instagram account Cheap Old Houses, which highlights historic homes that cost no more than $100,000 to buy, as The New York Post’s Shayne Benowitz reported back in August. These “old houses” are typically found in smaller towns that have become enticing in the age of coronavirus and remote work.
Finkelstein told Benowitz the account helps make homeownership more attainable for millennials, many of whom had plenty of time on their hands during quarantine for restoration projects.
Fixer uppers aren’t always cost-effective
But a fixer-upper isn’t always as affordable as it seems.
One 27-year-old that Benowitz spoke with said she had paid $18,500 for a Victorian home in West Virginia, but estimates her renovation budget would total $125,000.
Half (52%) of millennials started their home improvement projects within six months of their purchase, per the BofA survey. Many have already completed smaller, more budget-friendly projects such as painting and landscaping but still have yet to complete larger projects like bathroom and kitchen remodels.
Millennials are comfortable DIYing many of their home renovations, according to the survey, particularly the 30-something cohort. They feel more at ease painting and wallpapering and upgrading appliances, compared to more complex projects like altering floor plans and roofing.
That leaves some taking out loans to complete more complex projects. For the first time in the history of the annual survey, BofA found that millennials are using loans more frequently than cash to fund projects exceeding $10,000. When BofA last conducted the survey in 2017, only 34% were using loans for home improvement. Today, 42% of respondents are.
It hasn’t helped that a series of shortages, from lumber to semiconductor chips, and shipping delays are hijacking many costs involved with renovating a house such as wood and big appliances, making renovating more costly.
However much millennials try to find a more budget-friendly option, there will always be hidden costs to homeownership.
UIW School of Osteopathic Medicine Achieves Major Accreditation Milestone
SAN ANTONIO, May 13, 2021 /PRNewswire/ — The University of the Incarnate Word (UIW) is proud to announce that the UIW School of Osteopathic Medicine (UIWSOM) has been granted full accreditation from the American Osteopathic Association’s Commission on Osteopathic College Accreditation (COCA).
“We are exceptionally proud of COCA’s decision to grant full accreditation to UIWSOM, which is dedicated to transforming students into physicians that care for the whole person and make positive impacts on their patients’ lives,” said Dr. Thomas M. Evans, UIW president. “This is yet another recognition of the high standards and outstanding education that students can expect from the UIW School of Osteopathic Medicine.”
The American Osteopathic Association (AOA) represents more than 151,000 osteopathic doctors and students across the nation. At its April 2021 meeting, COCA reviewed the self-study and comprehensive site visit report for UIWSOM and the university administration were interviewed by the COCA commissioners. Upon that review, UIWSOM was granted full accreditation.
“Receiving full accreditation from the Commission on Osteopathic College Accreditation is the culmination of years of determination and commitment to the UIWSOM mission and vision by hundreds of wonderful people,” says Dr. Robyn Phillips-Madson, dean of UIWSOM. “The support from the Sisters of Charity of the Incarnate Word, the University, faithful donors, our faculty, staff, administrators and learners, our Brooks neighbors and the San Antonio, Laredo and Corpus Christi communities made this possible. By the grace of God, we’ll continue to build our osteopathic medical education program and educate compassionate and competent physicians with a heart for service to the vulnerable and the underserved.”
According to the AOA, the osteopathic profession, which includes pediatricians, OB-GYNs, internists. anesthesiologists, psychiatrists, oncologists, family medicine physicians, emergency medicine physicians, dermatologists, plastic surgeons, ophthalmologists, cardiothoracic surgeons, and more, has grown 63% in the past decade and nearly 300% over the past three decades.
UIWSOM graduated its first class of doctors on May 8, 2021 with 137 learners joining the ever-growing ranks of osteopathic care givers. The mission of UIWSOM is to empower all members of the medical education community to achieve academic, professional and personal success and develop a commitment to lifelong learning through excellence in learner-centered, patient-focused education, justice-based research and meaningful partnerships of osteopathic clinical service.
MEDIA CONTACT: Michael Valdes, Media and Public Relations Manager, Office of Communications & Brand Marketing, (210) 829-6001, (210) 422-4052 or firstname.lastname@example.org
View original content to download multimedia:https://www.prnewswire.com/news-releases/uiw-school-of-osteopathic-medicine-achieves-major-accreditation-milestone-301291266.html
SOURCE University of the Incarnate Word
Accounting and Auditing Standards Oversight Councils Initiate Review of Standard Setting in Canada
TORONTO, May 13, 2021 /CNW/ – The Accounting Standards Oversight Council (AcSOC) and Auditing and Assurance Standards Oversight Council (AASOC) have initiated a review of Canadian standard setting, forming a committee to conduct a review of the governance and structure for establishing accounting, auditing, and assurance standards, as well what might be needed for the future – including sustainability standards.
The Independent Review Committee on Standard Setting in Canada (the Committee) will make recommendations to ensure Canadian standard setting will continue to be independent and internationally recognized.
Playing a vital role in the financial and performance reporting supply chain, accounting, auditing, and assurance standards provide a common and essential measurement for Canadians to assess organizations and their financial results.
“In the face of an accelerating pace of change, Canada’s continued ability to develop timely, high-quality standards that are relevant to organizations’ reporting needs is critical to our economy,” says Miville Tremblay, CFA, ICD.D, Chair, AcSOC.
Standards’ contribution to delivering trusted financial results and understanding of the performance of an organization mean considering the standard-setting needs of today – and tomorrow.
“It is an appropriate time to review the current standard-setting structure and governance to ensure it will meet future needs in such areas as environmental, social and governance reporting,” adds Kevin Nye, Chair, AASOC.
Chaired by prominent lawyer Edward J. Waitzer, LL.B., LL.M., whose background in practice includes advising on a range of public policy and governance matters, the Committee also includes:
- Sonia A. Baxendale, President and CEO, Global Risk Institute
- John A. Gordon, FCPA, FCA, CFA, ICD.D, Retired Managing Partner, Quality & Risk Management, KPMG
- Geordie Hungerford, CFA, CAIA, MBA, LLB, CEO, First Nations Financial Management Board
- Michael Jantzi, CEO, Sustainalytics
- Stéphanie Lachance, LL.B., ICD.D, Managing Director, Responsible Investment, PSP Investments
- Paul Rochon, Deputy Minister of Finance (2014-2020)
- Marie-Soleil Tremblay, FCPA, FCA, PhD, Professor of Accounting, École nationale d’administration publique
The Committee will work over the course of the next year to conduct its review and develop a final report. Consultations will take place throughout the review process, with the Committee’s recommendations also subject to public consultation before being finalized.
For more information
SOURCE Financial Reporting & Assurance Standards Canada
Coinsmart. Beste Bitcoin-Börse in Europa
beIN SPORTS and LaLiga agree strategic buy-back deal in US & Canada for final three seasons
MIAMI and MADRID, May 13, 2021 /PRNewswire/ — beIN MEDIA GROUP (“beIN”) and LaLiga have agreed a significant (undisclosed) deal in the US & Canada where LaLiga will buy-back its North America rights for the final seasons of the current deal. The arrangement is strategically and commercially beneficial to both parties, who are long-term trusted partners in a multitude of markets across the world. LaLiga is set to announce a new US partner shortly.
The original 4-year deal between beIN and LaLiga covered the period 2020-21 to 2023-24 and included exclusive English and Spanish language rights to LaLiga – one of the most successful soccer leagues in the world – across the USA and Canada. The commercial arrangement gives beIN’s North America business a stronger long-term footing and more strategic balance in the US, which is currently one of the world’s most fiercely-competitive markets for media rights; while LaLiga will look to leverage more scale with a soon-to-be-announced US network.
beIN SPORTS will continue to be one of LaLiga’s most important overseas partners, continuing to broadcast Spanish football’s top division in more than 35 countries spanning 3 continents across the world, including France in Europe; 11 countries in Asia Pacific (Australia, New Zealand, Singapore, Hong Kong, Malaysia, Thailand, Cambodia, Laos, Indonesia, East Timor and the Philippines), and the 24 countries of the Middle East & North Africa. beIN and LaLiga will also continue their renowned alliance and partnership on anti-piracy – where they are industry-leading – and various activations ahead of the Qatar World Cup 2022.
In the US & Canada, beIN SPORTS remains the home of France’s Ligue 1, the French Coupe de la Ligue, the Africa Cup of Nations and CAF properties, a range of South American soccer including Copa Libertadores, Copa Sudamericana, Recopa Sudamericana, together with the Turkish Süper Lig, various Paris Saint-Germain (PSG) men’s friendlies and major games of Paris Saint-Germain Féminine. In addition to soccer, beIN SPORTS North America serves as a haven for fans of basketball, wrestling, mixed martial arts (MMA), skiing and handball, among others.
In the past 18 months, beIN has also revolutionised its US strategy by launching two innovative and completely free ad-supported channels – beIN SPORTS XTRA (Spanish and English) – which provide 24/7 sports content to consumers across 38 major free-to-air distributors (DMAs) and all major digital platforms in the US. These two new free channels run alongside beIN’s pay-TV channels, and have already reaped major return in subscriber numbers (+206% between March 2020 and October 2020) as consumers look for an alternative to pay.
beIN’s new ad-driven (rather than subscription-driven) channels are seen as the future model of profitable broadcasting in the US, in light of evolving consumer habits and demands, inflated rights fees and piracy. Further, in the US the distribution landscape is increasingly challenging for independent pay-TV channels, where distributors have started demanding prohibitively unreasonable distribution terms to cover their own losses and favour their own channels.
Richard Verow, Chief Sports Officer of beIN Media Group, said “Like broadcasters all over the world, we are constantly assessing our rights portfolio across all our markets to ensure financial discipline, commercial and strategic sense, and – crucially – long term growth. This arrangement with LaLiga in the US & Canada reflects that, sacrificing a short-term gain for long-term wins and sustainability in North America. Financial discipline has never been more important in the current context, where you have a ferociously competitive US market, coupled with constantly changing viewing habits, all complicated further by the pandemic and rampant piracy. beIN has significant ambitions for the US market, across both sports and entertainment – not least shown by our successes with MIRAMAX – and also in free-to-air broadcasting. This deal really gives us the platform to be opportunistic, strategic and long-term over the coming cycles. We also look forward to continuing as LaLiga’s trusted partner in many other markets around the world.”
LaLiga President, Javier Tebas, said “beIN is one of our most important, valued and strategic broadcast partners, and I look forward to working closely with the Group for many years to come in various key markets across the world. In the US and Canada our proud partnership has lasted nearly a decade, and over that time together we’ve successfully grown Spanish football and built a loyal fan-base. Given the constantly shifting US market, we believe that even more growth is possible for LaLiga over the current cycle – not least with the 2026 FIFA World Cup on the horizon – and this agreement allows us to work with a new US partner that has bigger scale in the short term in this specific market.”
View original content:https://www.prnewswire.com/news-releases/bein-sports-and-laliga-agree-strategic-buy-back-deal-in-us–canada-for-final-three-seasons-301291265.html
SOURCE beIN SPORTS
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