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The Aston Martin Valkyrie LM
The variant is 'close to identical' to the company's Le Mans race car
Inside the Valkyrie LM
The track-only vehicle's ballast and FIA-regulated electronics have been removed
The hypercar's naturally aspirated 6.5-liter V-12 makes 697 hp
Aston Martin Valkyrie LM owners are eligible for a dedicated driver development program
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Miami Herald
3 hours ago
- Miami Herald
Rodrigo De Paul joins Lionel Messi at Inter Miami, may make debut in Leagues Cup
Lionel Messi will have another close friend and longtime teammate by his side for the remainder of this Inter Miami season and beyond. As the Miami Herald and other outlets reported last week, Rodrigo De Paul, Messi's midfield mate on Argentina's national team, is headed to Inter Miami from Spanish club Atletico Madrid on a four-year loan-to-buy deal. The loan will run through 2025 with an option to make the transfer permanent through the 2029 MLS season.. The official announcement came from the club on Friday night. De Paul will be unveiled to the home fans during Saturday's pregame at 7 p.m. at Chase Stadium prior to Inter Miami's game against FC Cincinnati, which Messi and Jordi Alba will miss after being suspended by MLS for skipping the All-Star Game on Wednesday. 'What brings me to Inter Miami is the desire to compete, win titles, to write the pages in the club's history,' said De Paul. 'It's a club that is shaping up to be great, to have a long history, so that many people follow this incredible team.' De Paul, a World Cup champion and two-time Copa America winner, will join the squad and begin training with the team upon the receipt of his P-1 Visa and ITC. Inter Miami managing owner Jorge Mas spent more than a week in Madrid in early July finalizing the deal, which includes a transfer/buyout fee in the $12 million to $15 million range, with potential for a higher fee if incentives are met. De Paul is expected to make his Inter Miami debut during the Leagues Cup, which kicks off July 30 with a home game against Mexican club Atlas. The next two Leagues Cup games are against Necaxa Aug. 2 and Pumas Aug. 6, both at Chase Stadium. 'Assembling a team that inspires our fans to dream continues to be one of our primary aspirations, so we're thrilled to sign a player of Rodrigo's caliber,' said Mas. 'He is a winner who has conquered the world stage; his ambitions match ours at Inter Miami, and we are hungry to achieve these goals together. 'Several of the best players in global fútbol have already chosen Inter Miami as their home, and Rodrigo joining our roster is another landmark as we continue on this journey to change the trajectory of the sport in this country and make our fans proud.' Co-owner David Beckham added: ''Rodrigo is a player I've admired for many years. As a leader he has brought so much to the teams he has played for - especially with his national team Argentina. He brings experience, passion and quality to our team and to our city. I'm excited to welcome another World Cup winning player not just to Inter Miami, but also to MLS.' The move adds a top-tier 31-year-old central midfielder to the Miami roster as the team aims to compete for the Leagues Cup title and the MLS Cup after a disappointing first round exit from the playoffs last season. De Paul joined Atletico Madrid in 2021 from Udinese for a $41 million fee. His contract with the Spanish club expires in June 2026, but he decided to make the move to the United States now. Nicknamed 'El Motorcito' (Little Motor) for his tireless work rate, De Paul will get to train and work with Messi every day in the buildup to the 2026 World Cup, which is being hosted by the United States, Mexico and Canada next summer. He is a box-to-box midfielder who played a crucial role for Argentina in the 2022 World Cup and the 2024 Copa America. Over 11 seasons in Italy and Spain, De Paul has played 356 games, scored 45 goals and had 56 assists. He earned Copa América 2021 and 2024 Team of the Tournament honors, and most recently featured in the La Liga Team of the Season for the 2024-25 campaign. De Paul began his career in the youth ranks at Racing Club in Argentina prior to being promoted to the first team and making his professional debut in February 2013. He went on to establish himself as a key player for Racing before leaving for Europe in 2014. Fox Sports commentator Alexi Lalas believes De Paul is a perfect fit for Inter Miami and MLS. 'He is in his prime and the style in which he plays, I think will translate immediately to what Major League Soccer is,' Lalas said on his State of the Union podcast. 'I'm not saying he's crude or anything, but there is a ruggedness and a rawness to his game that is what makes him one of the greats in the world. I think it's going to translate. I think it's what Inter Miami needs.' Lalas went on to praise Inter Miami owners Jorge and Jose Mas and David Beckham for making 'bold' moves to spend big and sign marquee players. 'I love that Inter Miami and Jorge Mas and David Beckham want to push the envelope,' Lalas said. 'They want to do big things, and they should be given the ability to do that, Yes, within the rules. 'People are yelling and saying, 'Oh, Inter Miami's getting favorable treatment.' Yeah. OK. If somebody wants to do something big that's going to benefit the team, and it's going to benefit the league, they are going to be given some leeway. And there's nothing stopping you, whatever team it is - Columbus or Colorado or anybody else out there - from thinking big and doing big. 'Yes, there is an attraction to Messi. Yes, there is an attraction to someplace like Miami that maybe other teams don't have. But if you want to spend big money and you want to do big, bold, dare I say it, arrogant things, I will support you, 100 percent.' A charismatic player with a fashion flair, De Paul is a big fan of Beckham's and emulated the English star's hairdos, from the braids to the pulled-back half-ponytail to the hairband to the bleached blond look. Like Beckham, whose wife Victoria was a singer with the Spice Girls, De Paul has a pop star girlfriend, Tini Stoessel, who is from Argentina and has a home in Miami. De Paul did a stint with Spanish club Valencia from 2014-16, when Gary Neville was the coach there. Phil Neville, Gary's brother and the former Inter Miami coach, was an assistant coach with Valencia at that time and has fond memories of De Paul. 'He was a very talented young player with great energy and enthusiasm to play football,' Neville told the Miami Herald. 'He worked so hard every day, and you could tell he was going to have a really great career. He had an infectious personality in the locker room and was loved by all his teammates.' Messi has the same type of telepathy with De Paul as he does with Inter Miami teammates Luis Suarez, Sergio Busquets and Jordi Alba. De Paul always knows where Messi is, provides delivery to the Argentine icon and takes on the role of enforcer/bodyguard when the two are on the field together. Messi already has a professional bodyguard, Yassine Cheuko, and now he will have a second. Suarez, 38, and Busquets, 37, have not renewed their contracts, which expire at the end of this season. Busquets will make $8.8 million this season, second-highest salary on the team behind Messi ($20.5 million), and Suarez makes $1.5 million. Neither player has addressed his future, but if Suarez and/or Busquets retire at the end of the year, De Paul will fulfill the role of world-class midfielder and confidant for Messi. MLS rules allow just three Designated Players with salaries exceeding the league maximum. Right now, those are Messi, Busquets and Jordi Alba, who recently signed a contract extension through 2027. Messi has not signed his contract extension yet, but negotiations have been ongoing for months, and the deal is expected to be completed soon. Messi's initial contract with Miami is valued at $150 million, with a large piece of that coming from equity in the club upon his retirement. He is expected to continue playing at least through 2026, the first season in Miami Freedom Park Stadium, which is under construction and scheduled to open early next year.
Yahoo
6 hours ago
- Yahoo
Tariffs will drive up U.S. prices even with Trump trade deals, experts say
The new normal for U.S. tariffs on foreign goods starts at 15%. Even as President Trump seeks to forge new terms of trade with Japan, the European Union and other global economic partners, he is raising the floor for tariffs to their highest level in decades. Speaking at an AI summit on Wednesday, Mr. Trump said "we'll have a straight, simple tariff of anywhere between 15% and 50%," conditioning the lower rate on countries opening their economies to the U.S. The White House has said sharply higher tariffs could take effect on dozens of countries as soon as Aug. 1 unless they ink new trade deals. The Trump administration has a separate negotiating timeline with China, which faces an Aug. 12 deadline for an agreement. As these new rules of international commerce take shape, companies across a range of industries are emphasizing that higher tariffs translate into higher operational costs — and higher prices for consumers. For example, Nestlé on Thursday said it was considering hiking prices for candy bars and other products as tariffs threaten to eat into the food company's profit margins. The same day, Italian fashion brand Moncler said it has already hiked prices for its apparel to offset additional tariff-related costs. And General Electric said this week that proposed U.S. tariffs, should they take effect, would cost the company around $500 million in 2025, noting that it would move to offset those taxes through "cost controls and pricing actions." Orange juice importer Johanna Foods has gone a step further, this week filing a lawsuit against the Trump administration over its proposed 50% tariff on Brazil, which the New Jersey company said would seriously hurt its business and force it to hike product prices by up to 25%. The White House disputes that higher U.S. tariffs will drive up costs for businesses and consumers. "The administration has consistently maintained that the cost of tariffs will be borne by foreign exporters who rely on access to the American economy, the world's biggest and best consumer market," White House spokesman Kush Desai told CBS MoneyWatch in a statement. Desai also pointed to a recent analysis by the White House's Council of Economic Advisers that he said shows import prices falling this year. Price hikes not "instantaneous" Economists warn that consumers should brace for higher prices on a range of goods, from leather products and clothing to electronics and automobiles, later this year. "Up to now there has been only limited passthrough from tariffs into final consumer prices, but we still expect the impact to gradually mount in the second half of this year," Paul Ashworth, chief North America economist with Capital Economics, told investors in a research note. "Now that the Trump administration is concluding deals that would see the tariff rate facing most trading partners settling at between 15% and 20%, with even higher rates levied on Chinese imports, we suspect retailers will be forced to finally raise the prices paid by consumers." Inflation in the early part of 2025 remained fairly contained. That's because many companies and consumers accelerated their purchases of imported goods to avoid the risk of paying more if, or when, steep new tariffs take effect. Meanwhile, in the short-term, sharply higher prices are unlikely across the board, according to trade experts. "When you open up the hood of that, it's not going to be even across all categories of spending," Ernie Tedeschi, director of economics at the Budget Lab at Yale, told CBS MoneyWatch. "It's categories of spending where we import more that are going to be more sensitive to tariffs." But over the longer term, an increased baseline tariff, coupled wtih higher levies on individual countries, is projected to drive up U.S. prices by 2% over the next two years, according to an analysis from the Yale Budget Lab. "This isn't an instantaneous, 'We wake up the next morning and the world is different,'" Tedeschi added. But as the new U.S. tariff regime becomes embedded in global supply chains, some import-heavy product categories could see especially sharp price increases, he said. Specifically, foreign-made leather shoes and handbags, along with apparel, could see prices spike by at least 40%, while the cost of electronics could jump more than 20%, according to the Yale Budget Lab. Johnson says Jeffrey Epstein files controversy is not a hoax Idaho murders documents released after Bryan Kohberger is sentenced to life in prison The Sentencing of Bryan Kohberger | "48 Hours" Podcast
Los Angeles Times
6 hours ago
- Los Angeles Times
Baby Boomers now live next to 18-year-olds at colleges across the U.S.
On a Monday afternoon last spring at Lasell University, students wrapped up their final beginner Spanish class of the semester. Pairing up, they drilled each other on their names, favorite foods and hobbies. It was a routine conversation for Sara Leclair and Mandy Waddell, until Leclair, a 20-year-old sophomore, asked her partner, 'Cuantos años tienes?' How old are you? 'Oh, this is getting personal,' Waddell exclaimed in mock chagrin. 'Ochenta y uno.' Eighty-one. The two laughed, and the lesson went on. The intergenerational classmates — Leclair, an early-childhood education major, and Waddell, a retired elementary school teacher — were brought together through the partnership between Lasell University and Lasell Village, a senior living community on the school's 54-acre campus outside of Boston. The unconventional arrangement, which offers retirees the chance to share space and studies with co-eds while providing a source of revenue for the university to help buttress its finances, has proved to be an enduring success, and increasingly, a blueprint. There's arguably no better manifestation of the graying of America than senior citizens populating campuses originally designed for 18-year-olds. But as US student enrollment dwindles, school expenses soar and the country's population rapidly ages, the improbable mashup is making more and more sense. Andrew Carle, a senior living consultant, estimates there are already about 85 of what he dubs university retirement communities in the country, a number he says is only set to grow in the years ahead. 'You couldn't find a bigger odd couple,' Carle said. 'But when you do it right, the synergy is there and it can be an extremely successful model for both parties.' This is a niche – and often expensive – part of the senior living market, to be sure. It's not a cure-all for the harsh realities facing higher education, a list that includes declining enrollment, rising costs and this year's funding threats under the Trump administration. And not all schools are well-suited for inviting a retirement community onto campus. But the partnership does work in many cases, and it represents the kind of creative thinking that will be increasingly required in the face of convulsive demographic change. Starting in the coming school year, researchers say there will be dramatically fewer high school graduates available to fill the country's higher-ed classrooms, stemming from a decline in birth rates that started around the 2008 financial crisis. Meanwhile, more than 10,000 people are turning 65 each day in the US. By 2050, the number of older adults is expected to reach 88 million people and make up more than 20% of the country's population, exceeding those under 18. Higher education's shrinking student base has already forced at least 40 US colleges to announce plans to shut down since 2020, and experts predict as many as 80 more schools may find themselves in the same situation in coming years, under a worst-case drop in enrollment. On the other side of the divide, the rising tide of seniors is placing more urgency on the need for housing to accommodate the oncoming 'silver tsunami,' with current trendlines pointing to a supply-demand imbalance of worrisome proportions. The nonprofit National Investment Center for Seniors Housing & Care estimates that some 806,000 of new retirement units will be required in the US by 2030. But in this year's first quarter, less than 20,000 units were under construction in the 31 markets NIC analyzes — the lowest level since 2013. Against this backdrop, a growing cadre of school administrators and senior-living operators are joining forces to find solutions that address the needs of both constituents. In doing so, they are tapping into a movement that can trace its roots back to the 1980s and two pioneering midwestern institutions: Iowa State University and Indiana University. Both colleges were faced with the situation of retired administrators, professors and alumni who wanted to live out their golden years on their beloved campuses. In response, the schools started nearby developments to accommodate them, eventually partnering with senior living operators and helping to form a new framework. Since then, different iterations have blossomed across the US, from communities such as Lasell Village, which are on campus and require residents to agree to log 450 hours of learning each year, to those with looser affiliations. Some, like University of Alabama's Capstone Village community, are also on campus and have official partnerships with the university, but don't require residents to partake in programming. Others are simply located near a campus and share a less-formal connection with a university, like Legacy Pointe just off the main University of Central Florida campus. Schools often receive revenue through a land lease, royalty agreement or management contract. In rarer instances, they set up full or partial ownership of the retirement communities, sometimes through separate nonprofit organizations. Lasell Village was the brainchild of former President Tom de Witt, who landed on senior living as a way to leverage Lasell University's valuable land and bring another source of income onto its struggling balance sheet. With insolvency closing in, de Witt proposed transforming an unused parcel of land near the edge of campus as a place for retirees. It opened in 2000. 'I had to take Lasell Junior College literally out of bankruptcy,' he said in an interview, 'or there would be nothing here now.' Some abandoned campuses have been transformed into senior-living communities. That was the case for Newbury College in Boston, which shuttered in 2019, bowing to 'weighty financial challenges' driven by low enrollment and higher expenses. In the 20 years leading up to Newbury's closure, its headcount dropped from more than 5,300 students to about 600. Kisco Senior Living opened The Newbury of Brookline, an upscale senior living center on the closed college's campus, in December 2024. The development company HYM Investment Group bulldozed Newbury's classrooms and dorms to build the new retirement community, but were able to keep Mitton House, an 1896 mansion that was one of the school's architectural crown jewels. Doug Manz, HYM's chief investment officer, said closed college campuses can be attractive sites in crowded real estate markets like Boston or New York. Eastern Nazarene College's campus in Quincy, Massachusetts, which recently closed, has been floated for conversion. And the College of New Rochelle, less than 20 miles from midtown Manhattan, is potentially slated for senior housing. 'It's unfortunate, but small liberal arts colleges are disappearing,' Manz said. 'Meanwhile, there's high demand for senior housing. Both trends happening at the same time can create very unique opportunities.' Broadview, a senior living community on Purchase College's campus in Westchester County, a wealthy pocket within the greater New York area, saw rabid interest when it opened in December 2023, using about $400 million in municipal bonds to complete the development. Some 18 months later, the independent living space is full, with about 75 households on the waiting list, according to executive director Ashley Wade. 'There's been a lot of interest,' she said. 'It speaks to how many people want retirement on their terms. Our residents have been lifelong learners and they want that in their retirement, too.' Steve Shelov, a former pediatrician who retired a year-and-a-half ago, is emblematic of the kind of residents attracted to Broadview. The 80-year-old's packed schedule has included mentoring pre-med students, attending shows at Purchase College's performing arts center, meeting with school administrators and taking classes on art history and the Bible. 'If you look at my week, it's so full,' he said. As with most retirement communities, Broadview requires an up-front entrance fee, which in its case ranges from about $270,00 to as much as $2.5 million. At the end of the contract – when a resident dies or moves out – the facility pays 80% of the entrance fees to them or their beneficiary. They also pay monthly fees ranging from almost $4,000 to nearly $13,000. In return for their place on Purchase College's campus, Broadview pays $2 million to the school each year. Mike Kopas, Purchase's vice president for administration, said 75% of that goes toward student scholarships and 25% is dedicated to supporting faculty. Kopas said the income is a relatively small part of Purchase's balance sheet, but allows the school more flexibility and ability to offer aid to students. 'The scholarship dollars have so far been above and beyond what we'd been able to offer before,' Kopas said. As higher education becomes an increasingly challenging business, experts like Carle say they're getting more calls from cash-strapped colleges looking at retirement communities. Unfortunately, the characteristics that make a college unlikely to thrive in today's environment — small, private schools in remote areas — also make it a poor fit for senior living. 'I have to tell them, 'Look, you're a small liberal arts college in South Dakota with 900 students, 500 miles from anything,'' Carle said. 'There's just not a senior living market there.' There are other reasons that this collaboration can be tough to pull off: Senior housing companies — often under pressure to deliver shareholder returns — may find it challenging to wait out the bureaucratic processes of higher education. For example, Purchase College's leadership proposed bringing on a senior living facility in 2003. Doors opened two decades later in December 2023. Unsupportive neighbors and local government can also delay projects, like in the case of Lasell Village, when a zoning fight ended up in court, holding up progress for years. Schools also run the risk of partnering with unreliable companies. Carle points to Eckerd College in St. Petersburg, Florida, which spent hundreds of thousands of dollars to prop up its senior living center through bankruptcy and construction delays. Other times, tensions flare once facilities have opened and retirees have moved in. At Mirabella, a senior living community on Arizona State University's campus, residents and the complex sued a nearby entertainment venue for 'incessant' and 'unrelenting' noise. For some students, the complaints brought other grievances with the retirement community to the surface. 'ASU's decision to build Mirabella while ignoring the needs of its student population shows its prioritization of money over academic success,' Haley Tenore wrote in a 2021 opinion column for the student newspaper. 'As students on campus struggle financially and are made to live in subpar housing conditions, the University continues to expand outward, sometimes in areas where it is not wanted.' Eventually, Mirabella and the venue reached a resolution and asked the court to dismiss the lawsuit. Meanwhile, other students have praised the on-campus retirement community for fostering unexpected friendships and creating new programs. These arrangements have the best chance of success, experts say, when they emphasize a collaborative approach centered on intergenerational experiences and lifelong learning — not just seeing the partnership as a way to fill a budget gap. At Lasell Village, students fill notoriously difficult-to-staff dining hall roles and say they feel like they've got 200 grandparents. The organizations have partnered to host a 'senior prom' — senior in both senses of the word — for students and residents alike. Friendships have bloomed from those interactions. Courtney Tello, an elementary education major who graduated from Lasell University in May, considers Lasell Village resident Toni Miller her 'bonus grandmother.' 'Meeting Toni has been a major part of my college experience,' said Tello. 'She keeps me motivated and checks up on me, I know of so many students who could benefit from a friendship like this.' As for former Lasell University President de Witt, now retired himself, he moved in as a resident in August 2021, about a half mile from where he lived as the school's president. 'Of course I moved in, why would I not do that?' he said. 'I was president here for 19 years, this is my neighborhood.' Rembert writes for Bloomberg.
