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The future of private jets

Despite economic uncertainty, private aviation leaders are positive about the industry's long-term prospects. With permission from Flexjet Text size While economic uncertainty may have an impact on the future of the private jet industry in the short term, industry insiders are bullish on the long-term prospects for private aviation. Leaders of the country's leading private jet management, fractional ownership, charter and member companies recently shared their prospects for the post-Covid world with Penta. Berkshire Hathaway unit NetJets is the largest private jet operator in the world. It provides parts of ownership, leasing and jet card programs. Patrick Gallagher is NetJets'…

Biden to order review of critical US supply chains

Biden to order review of critical US supply chains

President Joe Biden will issue an executive order requiring the government to review critical supply chains, in an effort to ensure that the US is not too reliant on other countries, including China, for technology and materials.Three people familiar with the order, including one senior US official, said it would demand that government agencies make a broad examination of US supply chains. It would require them to examine procurement, in addition to critical technologies and materials in private-sector supply chains.The move follows a pledge Mr Biden made during the presidential race to address both the vulnerabilities in US medical-related supply…

Your mortgage financing can cost thousands more thanks to the new fee

Getty Refinancing is expected to become more expensive in the fall. A new fee, known as the "unfavorable market refinancing fee" (Fannie Mae) or the "market-related credit fee" (Freddie Mac), will be assessed on most refinancing loans sold to Fannie Mae and Freddie Mac, from September 1st. The fee is a flat 0.5% or 50 basis points of the total loan amount and adds hundreds or even thousands of dollars to the cost of refinancing. The new fee comes at a time when mortgage rates are falling to record lows and refinancing activity is increasing. Refinancing activity last week increased…

EU faces world criticism over curbs on vaccine exports

EU faces global criticism over curbs on vaccine exports

Brussels faces a global backlash over its new controls on vaccine exports as European Fee president Ursula von der Leyen struggles to quell a firestorm over the EU’s dealing with of vaccine shortages.Canada and Japan raised issues over export guidelines requiring producers to acquire permission earlier than delivery Covid-19 jabs exterior the EU. South Korea additionally warned governments towards a seize for extra vaccines than they want.The intervention comes on prime of a UK transfer to extract assurances on Friday from Ms von der Leyen that shipments of BioNTech/Pfizer vaccines from Belgium throughout the Channel won't be minimize off on account…

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