Category: Orlando News

An Orlando father, who lost his son who fell from the Orlando FreeFall attraction last month, spoke at ICON Park about his son’s death.

Tyre Sampson, 14, of Missouri, died while on spring break in Orlando. The boy’s father, Yarnell Sampson, was joined by his attorneys Ben Crump and Bob Hilliard at the 2 p.m. news conference.

“The reason I’m here is to get some understanding and get a few asks, also to pay my respect for myself,” said Sampson, visiting the site of his son’s death for the first time.

“There’s two ways I could go. I could go to depression and hide and let this just fall away, or I can stand up and do the right thing. That’s what I’m gonna do. I’m gonna speak for my son because he was a warrior, he was a young man, intelligent, intellectual.”

Sadly, the video of his son’s fall was the first way Sampson learned about his son’s death.

“How I found out was through the Internet… I was getting off work and (my significant other) asked me to have a seat and she wanted to show me something… I was kinda sickly when I first seen it, but I didn’t even know it was my child. When I found out that was my child, it took my breath out of me. It took some life out of me as well.”

As Nekia Dodd, the boy’s mother spoke at her own news conference from St. Louis, Sampson recounted how they both wanted to change for Tyre, bringing together the theme of “Justice for Tyre.”

“We’re gonna do this together as a family, we’re gonna get through this and we both want change for our child and also we want this company to take accountability for their actions‚” Sampson explained.

“You know, it shouldn’t be profit over safety. It should be safety over profit.”

According to a lawsuit filed Monday, the ride’s operators must have known that riders would be “subject to unreasonably dangerous and foreseeable risks and that serious injury and death of the occupants in the ride could result.”

Slingshot Group, the Florida-based owner and operator of Funtime Thrill Rides, and ICON Park, which leased the space, are among the defendants being sued in the lawsuit.

“Is the manufacturer partly responsible? We believe so. Absolutely. Does that absolve the operators’ culpability? We think not… this was a cascade of gross negligence on multiple parties’ parts. That’s why we have multiple defendants,” Crump said at the news briefing.

NBC’s “Today” show reported Tuesday that Sampson’s family is dealing with the boy’s death “day-by-day, second-by-second, minute-by-minute.” Sampson said he hopes legal action will create change in the industry so that other parents won’t suffer the same fate.

“At the end of the day, his legacy is gonna live on. As long as I got breath in my body to speak up for him, that’s what I’m gonna do,” Sampson told. “Let’s get to the truth.”

An independent forensic engineering firm hired by the family to investigate Sampson’s death found the thrill ride’s operator manually adjusted the seat’s sensors, which rendered the ride unsafe, Sampson’s attorneys announced.

“We hope that the golden age of rides that simulate danger and attract our children come to an end. The only hope now for Yarnell, for Tyree’s mom, is that the myth that these rides are safe and they just appear to be dangerous died that night with poor Tyree when he hit that concrete,” Hillard said.

Nikki Fried, Florida’s commissioner of agriculture and consumer services, revealed Quest Engineering and Failure Analysis’ findings nearly a month after the boy’s death. The firm’s 14-page report found the ride itself had no electrical or mechanical problems, as Tyre was able to ride a little even when the conditions were unsafe.

Fried pointed out that the operator of the Orlando FreeFall made “manual adjustments to the ride resulting in it being unsafe” and allowed the harness’ restraint opening to be “almost double” of the normal opening range.

Meanwhile, Quest Engineering and Failure Analysis’ findings report shows the harness sensor of the seat Sampson was in was “manually loosened, adjusted, and tightened to allow a restraint opening of near 7 inches.”

On Tuesday, Geraldine Thompson, D-Orlando, was also at the news briefing to discuss how she and other state and local officials are tightening safety regulations for amusement rides. According to her, she was “looking at the laws” to require more frequent inspections, extensive employee training, and notifying state authorities any time an amusement ride is altered.

A statement was released by the attorney for Orlando Slingshot, the company operating the ride. It reads:

“Orlando Slingshot continues to fully cooperate with the State during its investigation, and we will continue to do so until it has officially concluded. We reiterate that all protocols, procedures, and safety measures provided by the manufacturer of the ride were followed. We look forward to working with the Florida legislature to implement change in the industry and we are also supportive of the concepts outlined by State Representative Geraldine Thompson to make changes to state law through the ‘Tyre Sampson Bill’ to prevent a tragic accident like this from ever happening again.”

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Mount Dore Change is happening quickly in the eastern parts of Mount Dora and Sorrento, where decades of plans for development are taking hold. State Road 46 and Round Lake Road are the intersections of hundreds of acres of cattle ranchland, with lots of homes on big lots. A spur of the Wekiva Parkway opened two years ago, which has led to a lot of people moving to this area and building homes.

More than 850 acres are part of the Wolf Branch Innovation District, where more than 2,500 multifamily units and a lot of office and industrial space are planned. The area includes subdivisions that are or are likely to become part of Mount Dora. If all that is possible is built in the next few years, it will change the rolling hills outside of Mount Dora’s charming downtown and bring hundreds of new residents and high-wage jobs to northern Lake County.

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A planned community in southern Orange County called Lake Nona is a good example of what this area could look like. It has homes, apartments, businesses, and big employers like the UCF College of Medicine and a hospital for kids called Nemours. The area around Lake Nona used to be mostly open fields with a few residential areas.

After State Road 429 was built in the area, the area grew a lot. Crissy Stile, the mayor of Mount Dora, said that the Innovation District is interesting and exciting because it is a blank sale. For the businesses and commercial areas, we get to put the pieces together.

But the area was planned before the global COVID pandemic changed how many people work, which often means that employees work as much, or even more, from home than they do from their office. As for what to build, officials say that having the ability to change the mix of what’s built in the Innovation District as well as the low cost of living in Lake will help the area.

It’s Mount Dora’s economic development coordinator, Misty Sommer, who says, “We get a lot of questions about it.” Officials say the area will become a commercial hot spot in the next few years. “The market is residential right now,” the woman told the story to the paper.

One sign that things are finally getting going is the sale of 550 acres of land along State Road 46 in Sorrento. This is the first move inside the Innovation District boundaries since Mount Dora and Lake County formed the joint planning district in 2019. Talk about it started in 2004, and it’s been talked about for a long time now

Some of the things that have changed in and around the neighborhood:
DR. Horton’s Timberwalk community on Round Lake, between State Road 46 and Wolf Branch Road, is growing up around Round Lake Charter School, which is on the hillside. More than 367 homes will be built on 170 acres in phase one of the subdivision. People have already moved into the first phase.

People on the Lake County Commission split up on April 5 and approved the construction of 266 new homes on an area of land where cattle now graze. It is less than a mile south of State Road 46. Leslie Campione and Sean Parks, two commissioners, raised concerns about how to get to the businesses in the Innovation District, which will be behind the new subdivision. They voted against the community.

A company called Richland Communities bought 550 acres of land near the State Road 453 and Wekiva Parkway exit in 2021. Richland, which is based in California, could build 2,560 multifamily units, 2.36 million square feet of industrial space, about 520,000 square feet of commercial space, and 3.6 million square feet of “employment space,” which could be used for things like research, education, clinical health care, and professional services, GrowthSpotter reports.

The deal was first reported in February. A lot of the land could also be used for classrooms at Lake Sumter State College, too. Route 46 Properties of Lake Mary has been given the go-ahead to build more than 320 apartments and more than 55,000 square feet of commercial space at State Road 46 and Niles Road in Lake Mary.

The city of Mount Dora says that when the 32 acres are built, they will become part of the city. A new road, State Road 429, or the Wekiva Parkway, has been built from Apopka to I-4 in Sanford, which will make a loop around Orlando when it’s done. After 15 years, State Road 453, which is a spur of the parkway, was opened in 2018.

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The dramatic scene was filmed on the deputy’s body camera when he scaled the outside of an apartment building to save a one-year-old daughter from a fire early Saturday, officials said.

The baby and her mother were attempting to flee after a fire broke out at the Isles at East Millenia complex, according to a news release from the Orange County Sheriff’s Office.
According to the press release, deputies arrived at the site shortly before 4:15 a.m. and discovered the mother and infant on a third-floor balcony with flames emanating from the apartment.

According to the footage, Deputy William Puzynski climbed to the second-floor balcony, snatched the infant from her mother, and lowered her to other deputies below.

“Just before climbing up the building, Deputy Puzynski took off his heavy outer ballistic vest – which his camera is attached to – to make it easier for him to climb. It’s an amazing twist of fate that the camera was able to capture what happened next,” the release said.
“When I arrived, the building was completely consumed. It was commotion all over the place “WKMG, a CNN station, quoted Puzynski as saying. Puzynsk was helped down after passing the kid over to his companions, he told the news source.
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“Afterwards when the mom came and found me, she actually gave me a hug, so it was rewarding,” he said. “It’s a different feeling. Some nights you go home, and you don’t really know if you’ve made a difference, but in situations like this you feel it.”

Orange County Fire Rescue came on the scene as Puzynski was saving the baby. Seven more persons were claimed to be trapped inside the structure by firefighters. OCFR Battaltion Chief Steve Sherrill said, “They threw ladders to the building and they were able to get everybody safely.”

The fire took nearly an hour to put out from the moment firefighters received the call. Crews remained on the scene for several hours afterward, keeping an eye on the building for any flare-ups. According to OCFR, 12 units were affected, and the building’s power was turned off, causing all 24 occupants to evacuate. The Red Cross and the apartment management are assisting evacuated residents in finding temporary housing.

Three individuals were injured in the fire, according to Orange County officials, and a kid was among those injured, according to the Red Cross. Two firefighters were hurt and had to be taken to the hospital. According to the OCFR, the fire appears to have begun on the first level, and the reason is unknown. The State Fire Marshal is looking into it.

“Depending on the magnitude of the damage or if there is a suspicion of unlawful behavior, the State Fire Marshal is dispatched.” That is still being investigated, according to OCFR Battalion Chief Chris Henesy. Puzyknski, for one, expressed gratitude for the opportunity to assist.

“It’s a unique sensation.” “Some nights you go home not knowing if you’ve made a difference, but in moments like today, you can feel it,” he said.

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Civil rights activist Desmond Meade – the man who has been fighting for the voting rights of felons in Florida – has finally won a prolonged battle. The Florida voting icon’s civil rights have been restored, allowing him to run for office, serve on a jury and take the bar exam.

Meade received the news on Saturday during his live broadcast on Twitter. According to Durham Herald Sun, the news was given to him by his family, who presented him with a letter from the Florida Clemency Board announcing that his civil rights have officially been restored.

“I feel great, another chapter in the journey,” he said after receiving the news. “It shows that you just got to keep pushing,” he added.

Meade is the founder, president, and executive director of the Florida Rights Restoration Coalition, which raises voice for the civil rights of citizens coming back to society after completing prison terms.

The right activist of Orlando, Meade, led a grassroots effort for many years that got success in 2018 with the statewide passage of Amendment 4 to the Florida Constitution, restoring voting rights for as many as 1.4 million Florida felons, including him.

Desmond Meade
Desmond Meade. Image Credit: Twitter

However, despite approval from over two-thirds of state voters, the terms of restoration were the subject of debate, with GOP state leadership saying that returning citizens must pay all fees and fines before they could return to the voting booth.

Meade, who was convicted of drug and firearms offenses and served a jail term, already has the right to vote and had cast his right in the 2020 presidential elections.

Governor DeSantis Denied Right In March

In March 2021, Governor Ron DeSantis, a Republican, for the second time denied a pardon for Meade, saying it was because of a serious allegation against him from the U.S. Army. DeSantis said Meade could go through the regular process to apply to have his civil rights restored.

On the very day, DeSantis and the Cabinet, sitting as the Clemency Board, adopted an “automatic process” to speed up the restoration of rights for felons who have completed jail terms or other offenses, including paying fines and fees. The move also abolished the five-year waiting period before felons can apply for restoration.

New Rules

According to new rules, the felons with outstanding legal financial obligations can still apply to have their civil rights restored, able to go before the clemency board, which can waive court-ordered fees and fines.

Meade’s rights were restored with that new rights restoration process that the FRRC pushed for. But the rights restoration rule does not apply to those people who are convicted of murder or felony sex crimes.

“It’s not a pardon, but it’s definitely a step,” Meade said in the video. “I can apply to the Florida Bar now, I can get a house, I can run for office if I wanted to run for office.”

MacArthur Fellow

According to WUSF News, Meade was made a 2021 MacArthur Fellow in September. He was also granted a sum of $625,000 as a “Genius grant”. Meade has said the money will be used to pay off law school loans and to continue his work for people convicted of felonies.

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ORLANDO, Fla. — A man in Orlando, Florida hit the police and injured two officers with brick on Saturday morning. The police revealed that the culprit had set up a video live stream on Facebook before causing the incident. The attack took place when the officers were standing at Magnolia Avenue around 12:40 a.m. on Saturday “as part of a downtown detail”, police said.

The culprit was identified as William McClish, 27. A number of charges have been filed against him, including an attempt at the first-degree murder of a law enforcement officer with a weapon, said the police.

Credit: NBC Miami

Videos of the attack are doing rounds on YouTube, which was posted by the Orlando Police Department. The footage shows a man walking towards a police car while picking up something from the ground. Thereafter, the man moves towards the police car and starts ambushing them with the brick. A second officer comes to the rescue and starts punching the man to the ground. The dispute, however, continued but the camera couldn’t capture the whole of it. Subsequently, the squabble took attention and more police arrived on the scene.

Nearly four officers could finally arrest the man.

The YouTube description of the live stream by the Orlando police stated: “It was determined the man set up a camera to live-stream the attack to Facebook – that is the source of the video above.”

Further, police Chief Orlando Rolón also issued a statement citing that the incident marks the second unprovoked attack on Orlando police officers in one week.

Eyewitnesses reported that the officer was speaking with another officer when a man suddenly attacked without warning.

Rolón also stated: “One officer has a significant facial injury. The other was bit and nearly had his eye gouged out. Our officers will recover from their injuries, but individuals like this who take premeditated steps to harm law enforcement officers and other human beings must be held accountable to the fullest extent of the law.”

Another attack on the police had taken place just a few days ago when several individuals opened fire on two police officers.

According to a report by news station WESH, in a similar incident on Tuesday, two Orlando police officers were investigating a tip in an unmarked vehicle when three men opened fire on them. Officers returned fire.  None of the officers were injured. Three men have been arrested in connection with the shooting.

Rolón said: “We cannot wait for an officer or a citizen to be murdered. Prosecution and proper sentencing will be a deterrent for those who think they will only get a slap on the hand and probation soon after a short time in prison.”

While one officer hit with the bricks sustained severe nose injury, the second officer suffered profound eye damage with his left eye gouged out. He was bitten several times on his arm and hand.

McClish was later taken into custody following the attack.

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The Berlin city council has agreed to buy 14,750 apartments with the two largest owners in Germany for 2.46 billion euros, in an attempt to offset the increase in rents. The three municipal companies that have acquired these apartments are Degewo, Howoge and Berlinovo , according to a statement from the city’s finance department.

On the other hand, Vonovia and Deutsche Wohnen (private companies) are the ones that have sold these thousands of apartments as part of a merger plan that is being closely watched by the German authorities. The agreement with the city council includes a commitment by the two companies to limit rent increases until 2026 and to build 13,000 new apartments to try to address the housing shortage and alleviate public concerns about rising costs of living. as explained by the financial agency Bloomberg .

Municipal housing
“The return to municipal property gives tenants the necessary assurance that their apartments will be permanently in the low-cost segment,” said Matthias Kollatz, city finance councilor, in an e-mailed statement on Friday.

“We are buying carefully,” he says, adding that the three Berlin real estate companies that will take over the properties “are in very good condition and can successfully manage the purchase.”

The combination of Vonovia and Deutsche Wohnen to create a housing giant with more than 500,000 residential units in Germany is being watched closely in Europe’s largest economy. Furthermore, Germany has one of the highest proportions of rented families in the developed world.

Affordable housing has become a hot political issue and particularly in the capital, which a few years ago was an affordable place to live. Rising rents in Berlin have sparked mass demonstrations and a referendum that seeks to force the city to expropriate the big landowners .

Elections and referendum
The vote on the non-binding measure will take place on September 26, the same day as the national and Berlin elections. Most political parties have pledged to try to control rent increases across the country, concentrating primarily on building more homes.

“The timing of the proposed deal during a key election year, and with several politicians proposing to curb rent increases, appears controversial. However, the two owners have protected their future by interacting early with key stakeholders.”

Berlin is particularly exposed to the problem because much of its social housing was sold after reunification. The growth of the population of the city derived from its resurgence has generated strong tensions in housing and has attracted many investors from the sector.

Vonovia CEO Rolf Buch has commented that the agreement announced on Friday will create “a more affordable, needs-based and environmentally friendly living space, especially for young families.”

“We will only solve the challenges in the Berlin housing market together with politicians and society,” he says in an emailed statement.

Organizers of the Berlin referendum believe the deal shows that their concept can work to restore balance in the housing market, but they criticized the price and how the transaction was negotiated.

“Berlin needs transparent and affordable socialization and not gifts for real estate companies,” says Moheb Shafaqyar, spokesman for the referendum organizers.

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The great risk that arises in Europe and the United States at the bottom of economic reconstruction after the historic global recession caused by the coronavirus pandemic is stagflation.

A concept that refers to a rise in prices and interest rates without growth or increase in productivity , which would deepen social inequality, would toughen the payment of the bill of the new debt that is assumed (although it would help to reduce the weight of the debt). which has already been taken) and would deal a serious blow to corporate profits and, therefore, to the stock markets.

To approximate the relevance of this risk, we must stop at another economic concept related to prices on which the recovery has been built since the third quarter of 2020: reflation , which defines inflation and growth fostered by monetary and fiscal stimuli. .

The economic ideal designs that reflation must be limited in time because overheating appears among its consequences, which is precisely now flying overhead and which could translate into the dreaded stagflation. In this context, the Economist undertakes to monitor the main indicators that can set off stagflation alarms.

The first large economy to enter and exit the Covid crisis, China, has already reduced the rate of growth of its activity after completing the rebound in just weeks between April and May 2020, and in the same way it is feared that it will occur in United States and later in Europe. This logical slowdown, present in all GDP estimates, would pose a stagflation problem if prices continue to rise.

The official current of institutions such as the Federal Reserve (Fed), the European Central Bank (ECB), the European Commission or the United States Treasury defends that the inflation peaks that are being seen in recent months are “temporary” to avoid precipitate the withdrawal of stimuli and because they say they consider that they respond to the characteristics of the recovery, marked by a demand contained by the confinements that has coincided with a contraction in the supply also related in part to restrictions on mobility and health risks and by the explosion of consumption itself.

Bonzon (Julius Baer: “A sustainable reflation of the American and European economy is desirable”

“The fear of stagflation is less for those who are still convinced that there are conjunctural factors in the formation of prices, that there are, but to see how far”, reflected in this regard recently, Jesús Sáez, Natixis debt expert in a comment distributed to customers.

“We agree that a sustainable reflation of the US and European economy is desirable, as zero or negative interest rates are a sign of collapse in returns to capital and ultimately the capitalist system is undermined.” observes Yves Bonzon, Julius Baer’s CIO.

“Therefore, slightly higher interest and inflation rates would be a positive consequence of a reversal of the disinflationary or even deflationary trends with which the West has been plagued since the beginning of the century, although, on the contrary, rates of higher interest rates that only compensate for higher inflation [without growth] would be associated with a stagflation scenario “, he continues, and concludes:” A structural increase in inflation without an increase in productivity, and therefore in real wages, would affect cruelly and disproportionately to the lowest incomes. ”

At the moment, the growth forecasts for the economic activity of institutions, and also of investment managers or firms, show a strong and sustained pace in 2022 , after the rebound in 2021, in Europe and the United States, in general, which is even further for the hardest hit economies, such as Spain or Italy.

The monetary stimulus from central banks, in addition to the billion-dollar injections that politicians on both sides of the Atlantic have approved, make it difficult to anticipate a slowdown in growth so strong as to stall it. Thus, on the growth side, it seems difficult that a stagflation scenario could occur in the coming months.

Maurice Obstfeld, former chief economist of the International Monetary Fund, and professor of economics at the University of California, Berkeley, explains in an interview with the Economist how the stagflation scenario is not “a probable result”, but it does imply that it “requires an act balance is delicate for the Fed. They cannot go behind the curve. They have to avoid a sharp change in their communication or interest rate policy that destabilizes markets and causes a substantial slowdown in growth. ”

In his view, “they can do it, but in a scenario where they let inflation get out of hand and then have to slam on the brakes we could see something more like the confluence of high inflation and depressed growth during a moderate period of time. I do not see that as a long-term phenomenon, even if it occurs during a couple of quarters. So I would not call it stagflation, but it is a danger that could affect the economy temporarily, “warns the expert. Thus, it seems that everything depends on the subtlety with which the Fed is able to move in the coming months, taking great care to avoid generating a growth slump due to its withdrawal of stimuli.

Inflation will give a breather
On the inflation side, the stagflation scenario does not seem to be the most likely at this time either. Rates have gone well above what most experts anticipated last year at this time, reaching 5.3% year-on-year in the United States and 3% in the euro zone.

However, even being aware of how high these figures are, the big central banks, the Fed and the ECB, have been trying to keep the markets calm for months, noting that this is a temporary increase, driven by the necks of bottle that have been produced after the end of the confinements, and they expect everything to return to normal in the coming months.

The Fed’s forecast points to an inflation of 3.4% in 2021, but that will fall to 2.1% next year , and will remain at 2.2% in 2022, rates that are in line with its target, around 2%. For Europe, the possibility that inflation will skyrocket is even less worrisome for the European Central Bank, which expects rates of 2.2% for 2021, 1.7% for 2022 and 1.5% for 2023, well below its 2% goal by then.

And it is not just central banking: the market consensus believes these forecasts from central banks, expecting inflation to be 1.6% in 2022 and 1.5% next year. What’s more, this week the latest manager survey carried out by Bank of America was published, and the results reflect how, for the first time in 16 months, managers expect inflation to be lower within a year than it is now .

The market also has it clear, at the least for now, as expected, according to swaps inflation 5y5y (indicator of expectations that analyzes the ECB to interpret what rate are anticipating investors to within 5 years), rates of 1, 7% in the euro zone and 2.3% in the US.

Although all of the above suggests that there will not be an excessive rebound in price increases , neither in Europe nor in the United States, it is an issue that investors will continue to analyze very closely. Despite their estimates, inflation continues to be the main danger perceived by the managers surveyed by BofA.

Profits will continue to rise
Given the macroeconomic scenario and the forecasts of inflation, surprises and black swans apart, what the market foresees for the immediate years is a situation of balanced growth between the increase in prices, GDP and, by extension, growth rates. corporate profits, which are nourished on many occasions by this double variable.

In this sense, the forecast of the experts is clear: there will be no recession in profits in the coming years. “The slowdown in growth in August was due to the appearance of the Delta variant, which has once again imposed restrictions on mobility, delaying the opening of the economy,” they explain from Renta 4.

“If this were the case, we could think that once the vaccinations are completed, the reopening of the economy will be total and we will only have had a small delay, which is not so important for the valuations of the companies, which give more importance to the benefits That is to say, it would not be anything alarming since, in addition, growth continues today at quite good levels, with both European and American ISMs around 60 points “, they conclude.

The recovery of all lost profit will come this year to the S&P 500, whose earnings per share (EPS) will stand at almost $ 200, the highest level in history. In Europe, although three months ago the consensus still did not place its EPS above the figure reached in 2019, which was 25.9 euros. For the Ibex 35, we will have to wait, at least, for 2024 since at the moment the experts do not see the EPS equal to 2019 or in 2023, when it will close at 713 euros.

However, this picture is likely to change very soon as the market is lagging well behind the figures that companies are reporting and, proof of this, is that they have been forced to raise their earnings forecasts as the year passed . And this is a good indicator that the health of the microeconomy is going through a better time.

In the last three months, the EPS forecast for the Ibex, the Stoxx 600 and the S&P 500, for 2021, has increased by 18%, 9% and 5.5%, respectively, placing the improvement with With respect to the 2020 figures, more than 150% for the Spanish index, 60% for the European and 40% for the North American (see graph).

But this does not stop there since for the next two years the profit will continue to grow at a high single digit rate after the estimates have been raised in the last quarter between 3% and 7% for 2022 and between 3 % and 4% in 2023. Therefore, the speed remains high and well above the drag that can be, according to current expectations, the increase in prices on both sides of the Atlantic.

This does not mean that companies may be concerned about inflation. In fact, according to data obtained by Bank of America, in the last earnings season, the S&P 500 companies mentioned the word inflation 10 times more (900% more) than a year ago. In the Stoxx 600 this increase was 350%, reaching the highest figures of mentions since they were compiled in 2008.

“In general, companies trust their ability to pass on the rise in prices , thanks in part to excess household savings,” they point out from UBS. “And although the Delta strain is considered a risk to take into account, it is not currently limiting activity in developed markets or causing reductions in company forecasts,” they add.

“The best starting point for household balance sheets, which should underpin consumption, and considerable business investment are, in our view, the key differences that will improve the macroeconomic performance of this cycle compared to relatively slow growth. that followed the recession of 2008-09 “, they conclude from the bank.

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Job insecurity and the lack of savings to meet the initial disbursement not financed by the bank are aspects that make it difficult to access home ownership. In this context, rent-to-own becomes a model for acquiring a home. This formula, “although still residual, continues to gain supporters in our country”, affirms Jesús Duque, vice president of the Alfa Inmobiliaria network.

This model, in practice, consists of signing a rental contract that guarantees that, after an agreed term, the tenant has the right to acquire the home at a price previously agreed by the parties, from which the monthly payments paid so far will be deducted. for rent, totally or partially.

This modality also allows future owners to get to know the home and the area in depth and to know if it is fully adapted to their needs before formalizing the purchase. If, finally, the tenant cannot acquire the house, his commitment will be limited to interrupting the rental contract under the usual legal conditions .

According to the internal data with which Alfa Inmobiliaria operates, the rate of effort to rent a home in Spain currently exceeds 90% of the average salary of young people, a figure similar to what the acquisition of property would entail . However, “the difficulty of saving that 20% or 30% necessary, with the level of salaries in our country and job insecurity is unthinkable,” they point out.

Renting with option to buy also offers advantages for the landlord, since it receives income and profitability during the months in which it is rented, and “it can be an interesting option for owners who find it difficult to sell their property because it is located in areas in which sales are still very slow, “says Duque.

Specify in the contract
Renting with purchase option allows the parties to freely agree on the conditions of the agreement, although it is essential to establish a purchase option premium, which consists of a deposit that the tenant pays on account and that he loses if, finally, the acquisition does not come to term.

Another aspect that the experts recommend when opting for this option is to detail in the contract the time that the tenant can remain leased in the house, the period of time in which the tenant can exercise their right to purchase, the monthly amount of rental of the home or, who is responsible for the payment of community expenses or possible reforms that may be necessary to carry out, among others.

In addition, it is necessary to specify the will of the owner to sell the home , the final price of the same, the percentage to be deducted (partially or totally) from the rental fees in the sale price and the initial premium or guarantee that you have to provide the tenant and that the tenant will lose in the event that he does not exercise his right to purchase.

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The State Meteorological Agency (Aemet) has issued an orange alert (important risk) due to accumulation of rain in Catalonia. Rainfall, which could register up to 100 liters per square meter in the south of the Girona coast, will last throughout the day, which will also lead to a drop in maximum temperatures.

The forecast of the Servei Meteorològic de Catalunya (Meteocat) is that it will rain on Thursday afternoon in the eastern half of Catalonia and in the Pyrenees, as well as in the regions of the central half. They will be local showers that will be concentrated in the coastal regions of Barcelona and Tarragona. The Aemet has reported that the Atlantic storm will continue to affect the north of the Iberian Peninsula and the Balearic Islands for the next few hours.

The tropical nights of the last days (with temperatures above 25 degrees) will give way to two days of rainfall of varying intensity , which has led this Wednesday the Meteorological Service of Catalonia (Meteocat) to issue a warning for the intensity of rain . The episode began this Thursday and will last at least until Saturday.

This situation will lead to a decrease in the thermometer , which in recent days had risen in an unusual way for this time of year. In fact, the temperature of 25.7 degrees recorded on Tuesday in Sitges (Garraf) is an example. The coastal towns are those that have suffered the most from the ravages of the night heat and, according to the Meteorològic, in 12 of the 149 stations that measure the temperature (and keep data from the last 10 years) records have been broken.

The first hours of rainfall in Catalonia have been located in the coastal regions , as predicted by the Meteocat forecasts. They have started at dawn on the coastline and have been spreading northward. Considerable rain accumulations have been registered in towns such as Malgrat de Mar (Maresme), Fogars de la Selva or the Queralt sanctuary , in Berguedà.

Meteocat has registered abundant accumulations on the coast of La Selva and north of the Maresme, highlighting the 120 liters of Malgrat de Mar, or the 56.6 liters of Fogars de la Selva. The rains have also caused accumulations of water in the regions of Berguedà , Ripollès and La Garrotxa .

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Gil Bayona, general director of BSH Electrical Appliances Spain, will occupy the presidency of the new APD Council that has been constituted today with 23 businessmen and executives from the region.

The council will also be made up of the Honorary President, Francisco Bono; and Honorary President of Félix Longás, while the directors are Benito Tesier Sierra, General Director of Brembo; Luis Ignacio Lucas, General Director of Caja Rural Aragón; Ricardo Carreras, Director of Grupo Carreras; Jorge Blanchard Félez, General Director of Celulosa Fabril; David Álvarez Sánchez, Partner at Deloitte; Jesús Morte Bonafonte, President of the Zaragoza Amusement Park; José Antonio Pérez Cebrián, President Advisor of Forestalia Renovables; Iñigo de Yarza López-Madrazo, Vice President of Henneo; Teresa Fernández Fortún, Director of the Companies Area of ​​Ibercaja María López Palacín, Manager of Industrias López Soriano, and Alicia Asín Pérez, CEO of Libelium.

The Board will also include Antonio Montiel López, General Director of Pikolin; Javier Luengo, Director of SAMCA; Jorge Diez Zaera, Managing Director of SARGA; Manuel Teruel Izquierdo, President of Time Weser; Juan Ferro Arranz, General Director of Teltronic; Laura Martínez Bergua, Director of Aragon at Vodafone; J.Benito Pardo, General Director of Yudigar; David Gutiérrez Diez, General Director of Caja Rural de Teruel; Pablo Martín-Retortillo Leguina, CEO of Grupo la Oscense and Javier Pardiño Pérez, Plant Director of Becton Dickinson.

Lines of action
The main lines of action planned for companies in Aragon for the coming years will focus on strengthening the membership census in the region by incorporating new companies from the region, as well as increasing the presence of Aragonese companies as partners in APD activities of a nature. national and international, as well as promoting the calendar of activities in Aragon. It is also contemplated to contribute to the growth of the business fabric in the area through activities.

The Council has approved the strategic issues to be addressed by the Association in the coming years, organizing training sessions and seminars. The key lines have been proposed with the intention of helping companies to grow, to be more competitive, to better understand the environment in which they operate. Another objective is to strengthen networking between executives of the different partner companies.

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