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Bill de Blasio hasn’t repaid NYC funds he used for his failed presidential campaign, investigators say

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New York City Mayor Bill de Blasio has not paid back nearly $320,000 in public money used to fund the security detail that traveled with him during his aborted presidential campaign, a new report said Thursday.

The city investigators looking into the use of de Blasio’s security detail also concluded that the officer in charge of the mayor’s security unit “actively obstructed and sought to thwart” their probe.

The 47-page report from the New York City Department of Investigations came more than two years after the investigators launched a probe into allegations that de Blasio’s security detail had been misused for personal or political benefit. The probe looked at the use of security resources by de Blasio’s children and staff members, as well as whether the city had been stuck with the bill for de Blasio’s use of the security detail during his presidential bid.

The report arrived as de Blasio, who will step down as mayor when his final term ends this year, is reportedly planning a run for governor.

“There was a culture that treated the detail as if they were staffers” in the mayor’s office, Department of Investigations Commissioner Margaret Garnett told reporters later Thursday morning.

The detail, known as the executive protection unit or EPU, comprises officers from the New York Police Department’s intelligence bureau.

The report concluded that the EPU was misused when its members helped the mayor’s daughter, Chiara de Blasio, lift a futon into and out of an NYPD sprinter van during her move to Gracie Mansion from her apartment.

The probe was “unable to determine whether NYPD resources assisted in the move at Mayor de Blasio’s direct instruction,” but it said that the use of officers’ help in moving furniture was nevertheless “a misuse of NYPD resources for a personal benefit, whether it was requested or merely accepted.”

On numerous instances, the detail also drove de Blasio’s son, Dante de Blasio, to and from Yale University in Connecticut, and it was “common practice” for security members to drive him around New York City without the mayor or first lady present, according to the report.

Both of de Blasio’s kids declined to be assigned a security detail as adults, and there are no records showing Dante de Blasio should be a security detail protectee, the report said. “In practice, Dante’s use of NYPD resources was determined by his personal preferences and the availability of personnel, rather than any risk assessment,” the report concluded.

The investigation also concluded that the NYPD paid about $319,794 for the security detail to travel with de Blasio outside of New York City during his presidential run in 2019, which began in May that year and folded about four months later.

“To date, the City has not been reimbursed for these expenditures,” the report said.

To determine that figure, investigators had to cross-reference records from the campaign and NYPD records from the same time period “sort of piece by piece,” Garnett said.

In a fiery response, City Hhall accused the watchdogs of being ill-equipped to evaluate the use of de Blasio’s security detail.

“Intelligence and security experts should decide how to keep the mayor and his family safe, not civilian investigators. This unprofessional report purports to do the NYPD’s job for them, but with none of the relevant expertise – and without even interviewing the official who heads intelligence for the City,” the statement said.

“As a result, we are left with an inaccurate report, based on illegitimate assumptions and a naïve view of the complex security challenges facing elected officials today,” city hall said.

The mayor’s counsel sent a letter to the city’s Conflicts of Interest Board regarding the question of who should reimburse the campaign related expenses.

In interviews with the investigators, de Blasio and first lady Chirlaine McCray “repeatedly stated that they had not received any guidance concerning the appropriate or inappropriate uses of their security details at any point during the Mayor’s administration,” the report said.

Rather, they both said they used “common sense” on when to use the security detail, and the mayor said he brought any questions about EPU to the police “because ‘they had to determine how their people would operate,'” the report said.

When the investigators asked the NYPD for guidance they provided to the mayor about the use of security resources, the NYPD said it had no documents or general written policies to hand over, according to the report.

De Blasio in the interview did not comment on the campaign expenditures or his “reimbursement obligations,” but said that “there appear to be many different inputs, to some extent in conflict, I don’t think anyone was able to resolve it squarely, and I mean I can’t say who resolved it because I don’t think anyone did,” the report shows.

“This investigation is a testament to DOI’s commitment and perseverance to get at the facts no matter the obstacles, as well as the problems that arise when there are no structured, written policies for functions as important as the operations of the Mayor’s security detail,” Garnett said in a statement.

“Protecting the Mayor and his family is a serious and significant job that should be guided by best practices, formalized procedures, and an understanding that security details are not personal assistants in a dignitary’s daily life but provide essential protection,” she said.

“Moreover, this investigation substantiated that New York City expended more than $300,000 on travel costs alone for the Mayor’s security detail during his presidential run. Under existing COIB guidance, these expenses must be repaid by the Mayor, either personally or through his campaign.”



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Take a look inside these deluxe Florida condos you could buy for about 560 bitcoin

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The Arte condominium in the Surfside neighborhood of Miami Beach features 16 luxury units.

Arte Surfside

Two luxury condos are up for sale in one of Florida’s most exclusive oceanfront properties for a combined price of $31 million – and the developers are accepting payment in bitcoin.

The 16-residence, 12-story building in the town of Surfside near Miami is called Arte, and prices start at more than $10 million apiece. Developers Alex Sapir and Giovanni Fasciano say interested buyers are welcome to make offers in either bitcoin or ethereum. Earlier this year, they sold a penthouse in the building for a record-breaking $22.5 million in crypto. 

The Arte condominium in the Surfside neighborhood of Miami Beach features 16 luxury units.

Arte Surfside

Prospective buyers have their pick of two apartments. A 6,982-square-foot unit is up for sale for $18.95 million and a second property, about half that size, is $11.9 million. Based on its most recent price, that would come to 560 bitcoin. Both boast wraparound terraces with oceanfront views, sizable walk-in closets, direct elevator entry with fingerprint recognition tech and floor-to-ceiling glass walls.

Building amenities are similarly decadent. 

There are indoor and outdoor swimming pools, as well as a full-size rooftop tennis court. Arte residents can also get lessons from celebrity tennis coach James Bollettieri. Other perks include a gym, yoga studio, sauna, steam room, children’s playroom, catering kitchen, temperature-controlled parking spaces and a fleet of white-glove butlers.

The Arte condominium in the Surfside neighborhood of Miami Beach features 16 luxury units.

Arte Surfside

Real estate boom meets crypto boom

Covid-driven work and travel restrictions have been good for the real estate business. Home prices have climbed at a record pace amid a nationwide housing boom. 

The surge coincides with the recent run-up in bitcoin and other cyrptocurrency prices, and the two trends are converging in Miami, which is trying to position itself as the crypto capital of the U.S.

Miami real estate mogul Marc Roberts accepts crypto deposits for his condos, claims to have sold a penthouse for $22 million in crypto and co-owns E11even, which allows patrons to deal in bitcoin

There are also sites which have made it easier to locate properties available for purchase with crypto.

The Arte condominium in the Surfside neighborhood of Miami Beach features 16 luxury units.

Arte Surfside

“We were overwhelmed by the amount of calls we received from qualified buyers just after announcing our ability to facilitate cryptocurrency transactions for the condominiums at Arte,” Sapir said. “Real-world crypto transactions haven’t made their way fully into the mainstream yet, so it’s clear that top holders around the world pay attention when new opportunities to transact open up.”

The real estate pair told CNBC they believe they are “approaching a new audience which is looking to lock in their profits in coin by investing in a stable asset like real estate.” 

The Arte team said transacting in crypto was smooth and even faster than a traditional all-cash deal. The developers received an offer for the penthouse days after announcing they would accept crypto, and the sale closed two weeks after that.

The property developers won’t reveal the identity of the owner, nor which form of cryptocurrency was accepted for the property. However, they did tell CNBC how they go about conducting a real estate sale in virtual tokens. 

The deal is structured between two wallets, and the funds are converted into U.S. dollars prior to the transfer of the deed. At this point, the conventional mechanism of any real estate transaction goes into play, such as funding in escrow and disbursement of payments by an escrow agent.

The Arte condominium in the Surfside neighborhood of Miami Beach features 16 luxury units.

Arte Surfside

But it’s not all smooth sailing.

Fluctuations in the price of cryptocurrency can create challenges with pricing and settlement terms. In addition, the built-in anonymity and privacy behind crypto transactions can make it hard to trace the source of funds, which is required for compliance checks. One possible solution is to shift the conversion risk to the buyer and then to perform independent compliance checks. 

The Arte condominium in the Surfside neighborhood of Miami Beach features 16 luxury units.

Arte Surfside

Capital gains hit

Just because there are more opportunities to buy a house in crypto doesn’t mean that you should, say tax experts.

The IRS treats virtual currencies like bitcoin as property, meaning that they are taxed in a manner similar to stocks or real property.

“Every time you spend crypto to buy a cup of coffee, or a condo in this case, that triggers capital gains taxes,” explained Shehan Chandrasekera, a CPA and head of tax strategy at CoinTracker, a crypto tax software company. 

At the time of a transaction, if the buyer’s crypto holdings have appreciated in value since the tokens were first purchased, that would subject the sale to either long-term or short-term capital gains taxes.

The better option, according to Chandrasekera, would be to leverage one’s crypto holdings in a real estate deal.

“If your net worth is tied to cryptocurrency, I think it makes more sense to get a loan against your crypto and spend the cash to buy a property,” he said. “This is because getting a loan against your crypto is not a taxable event. You get liquidity without triggering a taxable event.”

It is also possible to take out a mortgage against a nonfungible token. 

But in either case, the buyer will still have to pay off the loan over a period of time. Chandrasekera says rates might be higher than the traditional mortgage rates, but “this is great for people who don’t have a good credit history or want to own a place without going through traditional institutions.”

The Arte condominium in the Surfside neighborhood of Miami Beach features 16 luxury units.

Arte Surfside



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Majority of U.S. teens don’t expect businesses alone to fix global warming, survey finds

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Youth march along Pennsylvania Avenue to the U.S. Capitol Building as part of the Global Climate Strike protests on Sept. 20, 2019 in Washington, D.C.

Samuel Corum | Getty Images

With the clock ticking, who will solve the problems of climate change and global warming?

Most U.S. teens believe that everyone should help.

Nearly 70% of teens said that fixing climate change and global warming is the responsibility of all of us, as individuals, according to a survey released Thursday by Junior Achievement. The survey was conducted online by Engine Insights in September and polled more than 1,000 13- to 17-year-olds about their views on the environment.

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“It was a bit of a different take than I would have anticipated,” said Ed Grocholski, senior vice president of brand at Junior Achievement, adding that many conversations around climate change and global warming have focused on what was happening at a higher level, such as the government.

“There is that sense of optimism that something can be done, and people can be proactive,” he said.

Today’s teens, however, seem to be more tuned into how their individual actions and choices impact the environment — the overwhelming majority said that human activity plays a role in climate change.

Interestingly, though teens don’t see businesses as having the greatest responsibility when it comes to solving the environmental crisis, they do see business as playing a key role.

Of those surveyed, 73% said that business innovation would be required to slow or stop climate change from getting worse.

“There’s some optimism that the private sector can play a really productive role in addressing this issue,” said Grocholski, adding that things such as electric cars, green construction and growing alternative power sources have played a part. “There’s a sense of hopefulness that maybe wasn’t there a few years ago just because some of the things we’re seeing from an innovation standpoint.”



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‘Record-setting prices on virtually every category’: How to invest in a booming collectibles market

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With the explosion in popularity of nonfungible tokens, online investors and collectors have bid up the prices of all manners of digital collectibles, from basketball cards to drawings of rocks to virtual racehorses.

But many of the traditional items people like to collect are seeing a surge in popularity, too.

More from Grow:
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I used to owe $40K and now I’m on track to retire at 65 with over $1.5M

“At the beginning of 2020 there was a slowdown in auctions and exhibitions,” says Laura Doyle, art, jewelry, and valuable collections manager at insurer Chubb. “Then, with people spending more time indoors, they had more time to devote to their passions, including collecting.”

As a result, she says, “we’ve seen record-setting prices on virtually every category.”

With prices on the rise, many investors see collectibles as an investment opportunity. Nearly half of Americans (47%) say they’d purchase jewelry as an investment if they had the money to do so, according to a recent Chubb survey. About 40% said they’d do the same with art, and about a third of respondents say they’d add wine to their portfolio if they could.

Read on for how experts say you can strategically start a collection while maximizing your chances that your valuables appreciate over time.

‘Be an informed collector’

If you’re hoping to eventually turn a profit on your collection, you’ll need expert knowledge of the field you’re collecting in, says Xiliary Twil, an accredited senior appraiser of fine art with the American Society of Appraisers. “The goal is to learn as much as you can and be an informed collector,” she says. “That’s the key to everything. You wouldn’t go out and buy stocks without doing your research.”

In the world of fine art, that means keeping up with all the free literature you can get your hands on to get a sense of art and artists that are trending among collectors, Twil says. “All the major galleries have email lists and some offer virtual viewings,” she says. “Auction houses, such as Sotheby’s, Christie’s, and Phillips have very good writers who put out articles about recent trends and market studies.”

Video by Courtney Stith

If you’re not sure where to start, experts recommend getting in touch with an auction house or advisory firm that specializes in the commodity you want to begin collecting. “You want to go to reputable people who will advise you. Ultimately, their goal may be to sell you something, but they’re going to give you the confidence and knowledge to feel good about what you’re buying,” says Irv Goldman, CEO of wine auction house Acker Wines.

“You don’t want to just read something online and go, ‘This sounds good,'” he adds. “Go to a company trying to get people to invest in wine and pick their brain. Ask them how they pick wine and what their process is. Like anything else, you have to do your homework.”

Calibrate your expectations

Depending on what and how you collect, you may be able to earn a good return on your investment. According to Acker’s data, an index of fine and rare wines has returned a cumulative 242% since the beginning of 2006. That’s less than the 300% return in the S&P 500 but a respectable number that came with a fraction of the volatility of the stock market over the same period, according to Goldman.

Any single collectible you buy has a chance to deliver a much more dramatic return — in either direction. “Designer sneakers are currently a $79 billion market that’s expected to grow to $120 billion by 2026,” says Twil. It’s not hard for a collector to imagine, then, that the right pair of shoes could send their portfolio skyrocketing. But things can go the other way, too.

“Whatever type of furniture you collect will eventually be out of style,” Twil says. “We all thought shoulder pads, spiky hair, off-the-shoulder T-shirts, and leg warmers were the most amazing look in the ’80s. They didn’t stick around.”

To give yourself the best chance of turning a profit, try to build a diversified collection of your chosen item that covers different areas of the market you’re interested in. That way, experts say, the value of your collection won’t crater alongside a downturn in a particular piece. “For an entry-level wine investor, you’re looking at $100 to $150 a bottle,” says Goldman. “If you can start by spreading your first investment across, say, six different regions, you’re probably fine.”

Even if you do your research and spread your bets, there’s no certainty that your interests are going to be aligned with the market’s, says Doyle. So “buy what you love,” she says. “Because you never know what’s going to happen. There are no guaranteed returns.”

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Comcast’s Sky launches Sky Glass streaming TV

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Dana Strong, Sky Group CEO at the launch of Sky Glass, the new streaming TV with Sky inside.

Joe Maher | Getty Images Entertainment | Getty Images

LONDON — Comcast’s European pay-TV offering Sky has launched a smart television called Sky Glass.

The product will allow customers to stream Sky TV and other content over the internet without the need for the Sky Q set-top box or a satellite dish, Sky said.

It’s the biggest hardware announcement that Sky, which competes with Netflix and Amazon on content, has made since it was acquired by Philadelphia-based Comcast in 2018 for $39 billion.

The TV, announced at an event in London Thursday, will be available in the U.K. from Oct. 18 before launching in other European markets next year.

“Sky Glass is the streaming TV with Sky inside, providing the total integration of hardware, software and content,” said Dana Strong, group chief executive of Sky, in a statement.

The TV, which comes after the launch of Apple TV and the Amazon Fire dongle, comes in five colors and three sizes: small 43″, medium 55″ and large 65″.

The smallest option will be priced from £13 ($17.7) per month in the U.K., while the medium option will be an additional £4 a month and the largest will be an extra £8. They can also be bought outright for £649, £849 and £1,049 respectively.

One caveat is that customers must also pay an additional £26 a month at least for access to Sky’s content through the television.

Compatibility

Other services such as Netflix, Disney+, BBC iPlayer, Peloton and Spotify can also be accessed through the TV, Sky said.

Sky Glass, which can be turned on by saying “Hello Sky,” has a 4K Ultra HD screen that shows over 1 billion colors, Sky said.

Comcast CEO Brian Roberts said in an interview with Sky News that it’s an “offensive” move, as opposed to a defensive one.

Sky Glass is “all the technology that Comcast and Sky have been working on for over a decade,” Roberts said.

He added: “All the wires are gone. All the boxes are gone. You can talk to it. It tells you what you want to see. It shows it to you right away. You can switch from music to exercise to television to news.”

Sky Glass camera

A new 4K smart camera will be launched for Sky Glass in 2022 that supports chat, gaming and workouts, Sky said.

Paolo Pescatore, a technology, media and telecoms analyst at PP Foresight, told CNBC that the “end of the TV set-top-box is finally here.”

He said the prospect of getting the premium Sky experience without a satellite dish will make the service “far stickier” for households.

It also opens new revenue opportunities with higher margins for Sky, Pescatore said, adding that there’s an opportunity for Sky to introduce “dual and triple play bundles” that include fast fiber and gigabit connectivity.

“It’s hard for rivals to compete head on given Sky’s dominance in TV and position as an aggregator of key streaming services,” Pescatore said.

Some consumers have been put off buying TVs with too much software built into them in recent years as the hardware can struggle to keep up with software updates that demand more processing power.

Sky said Sky Glass has been built so that it can be syndicated and deployed by other telco and subscription TV operators.

The Foxtel Group, an Australian subscription TV firm, will be the first syndication partner, it added.

Disclosure: Comcast owns CNBC’s parent NBCUniversal and Sky.



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United Airlines ramps up domestic schedule to the most flights since the pandemic began, expecting a surge in holiday travel

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United Airlines first new livery Boeing 737-800 sits at a gate after arriving at O’Hare International Airport in Chicago, Illinois, U.S., June 5, 2019.

Kamil Krzaczynski Reuters

United Airlines is planning to ramp up its December schedule to 3,500 domestic flights a day, the most it’s flown in the U.S. since the pandemic began, expecting a surge in holiday travel.

The Chicago-based airline’s schedule includes more capacity to ski and beach destinations, including as many as 195 daily flights to 12 Florida airports, its most ever. United first announced its expansion of Florida service last year, part of carriers’ push to serve destinations that give travelers the ability to physically distance during the pandemic and also avoid other cities’ limits on travel and other activities.

International travel remains hampered by ever-changing travel restrictions. The Biden administration, however, has said it plans to lift Covid-era rules barring many international visitors in early November, replacing them with vaccine and other requirements.

Airline executives say carriers’ recovery is closely tied to a drop in case rates. United in September said it trimmed its third-quarter schedule following the surge in Covid cases and a decline in bookings in late summer.

United said flight searches on its website and app for holiday travel are up 16% compared with 2019.



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Jobless claims post sharp decline to 326,000, better than expectations

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The total of Americans submitting jobless claims fell sharply last week as the enhanced unemployment benefits ended, the Labor Department reported Thursday.

Initial filings for unemployment benefits totaled 326,000 for the week ended Oct. 2, below the 345,000 Dow Jones estimate and a drop from the previous week’s 364,000.

The numbers came at a time when most pandemic-related programs that extended unemployment benefits are winding down, and amid hopes that declining Covid cases will spark a round of more aggressive hiring heading into the fall.

Stock market futures rose slightly following the report, adding to already strong gains. Government bond yields also were higher.

The weekly total was the lowest level since Sept. 4 and reverses a trend of rising claims over the past three weeks.

However, the four-week moving average, which smooths weekly volatility in the numbers, edged higher to 344,000.

This is breaking news. Please check back here for updates.

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Pfizer asks FDA to authorize Covid vaccine for kids ages 5 to 11

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Jamie Blank (L) holds her son, Ari Blank’s hand as he receives the Pfizer-BioNTech Covid-19 vaccine from healthcare worker Jen Feinberg (R) at the Jewish Federation/JARC’s offices in Bloomfield Hills, Michigan on May 13, 2021.

Jeff Kowalsky | AFP | Getty Images

Pfizer said Thursday it asked the Food and Drug Administration to authorize its Covid-19 vaccine with BioNTech for kids ages 5 to 11.

The news couldn’t come any sooner for parents anxious to get their children vaccinated as kids start the new school year with the delta variant surging across America. The strain has led to a surge in U.S. hospitalizations, including among young kids who are currently ineligible to get vaccinated.

Last month, Pfizer released new data that showed a two-dose regimen of 10 micrograms — a third the dosage used for teens and adults – is safe and generates a “robust” immune response in a clinical trial of young children. It said the shots were well tolerated and produced an immune response and side effects comparable to those seen in a study of people ages 16 to 25.

Common side effects for teens and adults include fatigue, headache, muscle pain, chills, fever and nausea, according to the Centers for Disease Control and Prevention.

The company’s request Thursday may mean the shots won’t be available until around November if the FDA spends as much time reviewing the data for that age group as it did for 12- to 15-year-olds. Pfizer and BioNTech requested expanded use of their shot in adolescents on April 9 and were authorized by the FDA on May 10.

A key FDA vaccine advisory group is scheduled to meet on Oct. 26 to discuss Pfizer’s data.

Dr. Scott Gottlieb, who sits on Pfizer’s board and served as FDA commissioner for two years in the Trump administration, told CNBC last week that the shots for young kids could come by Halloween.

The FDA has a lot of experience with the Pfizer vaccine, Gottlieb noted, adding the Covid shot for young kids is the same two-dose regimen as adults but is administered in smaller quantities. The agency has already cleared the shots for Americans age 12 and up.

“I wouldn’t foreclose the possibility that this could be out in October,” he said.



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Spain wants young people to leave home – and is offering them $300 a month to do so

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Maskot | Maskot | Getty Images

Spain is planning to offer young people aged 18-35 years old 250 euros ($289) a month to incentivize them to move out of their parents’ house and rent. 

Spanish President Pedro Sanchez announced the proposal on Tuesday, as part of the government’s 2022 budget. 

Young people earning less than 23,725 euros a month would be eligible for the rental bonus, if the budgetary proposal is approved. In addition, the most vulnerable families may be offered additional subsidies covering up to 40% of their rent, according to the government announcement. 

“We are talking about a fair economic recovery and this means facilitating access to housing, especially for those who are most vulnerable to precariousness, such as our young people,” said Sanchez, making the announcement at an event organized by United Nations Human Settlement Programme, known as UN-Habitat. 

Eurostat data from 2020 showed that people in Spain moved out of their parents’ house at around 30 years old on average, four years later than the typical age for the whole of the European Union, of 26 years old. 

A report by U.S. thinktank Brookings, published in April, stated that less than one in four homes were rented out in Spain. However, the report noted that there had been a gradual growth in demand for rentals, due to job insecurity and low salaries preventing young people from buying a home, as well as more caution from banks to offer mortgages. 

According to data published by Eurostat, a one-bedroom apartment in the Spanish capital of Madrid was estimated to cost 1,000 euros a month to rent in 2020. 

Separate data from Eurostat showed that in 2020 a single person without children in Spain had net earnings of around 21,241 euros, which was slightly below the EU average of 24,005 euros. 

Check out: How to save more and reach your financial goals by the end of the year



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GM-backed Cruise targets 1 million self-driving vehicles by 2030

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DETROIT – Cruise, General Motors’ majority-owned autonomous vehicle subsidiary, is targeting a fleet of 1 million or more self-driving vehicles by 2030.

Cruise CEO Dan Ammann showed investors Wednesday a graphic of the company’s “exponential Cruise fleet ramp” that showed scaling its operations to a million or more vehicles by the end of the decade during an investor event Wednesday for GM.

“We expect to scale the business rapidly,” Ammann said during the presentation at the first of two days of investor meetings that concludes Thursday.

Ammann did not specifically discuss the 2030 target, but a Cruise spokesman confirmed “that’s where the company believes it can be.”

To achieve such a lofty goal, the company would need approval from federal and state officials, which are in the early days of regulating the testing and deployment of such vehicles.

Cruise has been testing robotaxis in San Francisco for several years. Ammann said Cruise expects to begin charging customers for rides as early as next year, pending a final permit from California.

The company last week was granted the fifth of sixth permits needed to commercialize a self-driving ride-hailing fleet in the state. Google’s Waymo also was granted a similar permit, but it requires the vehicles to have back-up safety drivers.

Cruise plans to scale its fleet in the U.S. and internationally. Earlier this year, the company signed an agreement with Dubai’s roads and transport authority to be the exclusive provider for self-driving taxis and ride-hailing services through 2029, which would assist in the ramp-up.

Ammann said Cruise expects to quickly lower the cost of ride-hailing from about $5 a mile today to $1.50 a mile by removing the driver.

Cruise’s current test fleet is composed of hundreds of custom Chevrolet Bolt EVs equipped with driverless technology. That fleet, which it plans to launch operations with, will continue to expand until a purpose-built autonomous vehicle called the Origin is expected to be produced by GM beginning in early 2023.

Commercializing autonomous vehicles has been far more challenging than many predicted even a few years ago. Previous goals also have been missed.

Cruise was expected to launch a ride-hailing service for the public in San Francisco in 2019. The company delayed those plans that year to conduct further testing. 

Tesla CEO Elon Musk previously promised to commercialize autonomous vehicles, including 1 million robotaxis by now. The company currently has none.

Cruise Chief Technology Officer Kyle Vogt (left) with Voyage CEO Oliver Cameron, who will join Cruise as part of an acquisition of the company.

Voyage



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