Latest news with #US4
7NEWS
19 hours ago
- Entertainment
- 7NEWS
The property empire that Ozzy Osbourne and wife Sharon built for their family
Loading content... It's the news heavy metal fans never wanted to hear - Black Sabbath front-man and solo star Ozzy Osbourne has died aged 76. The death of "The Prince of Darkness" prompted an outpouring of grief from fans and the music industry's biggest names. Osbourne's death comes just weeks after he performed with metal pioneers Black Sabbath for the last time at a star-studded charity benefit show titled "Back to the Beginning" at the Villa Park stadium in Birmingham. That performance followed Osbourne leaving his long-time residence in the US and permanently relocating back to England with his wife and manager, TV personality Sharon. In 2020, Osbourne revealed he had Parkinson's disease after suffering a fall. After some delays, reports indicated the couple managed to officially leave America not long before Ozzy's death. Ozzy and Sharon had three adult children, Aimee, Kelly and Jack, and five grandchildren. Ozzy also had two children from his first marriage. Property history The couple purchased Welders House in Buckinghamshire more than 30 years ago. The estate is located in the parish of Chalfont St Peter, once named as one of the most expensive places to live in the UK. In 2022, it was revealed that the Osbournes planned to build a "rehabilitation wing" extension to the country estate as Ozzy battled Parkinson's. In the late 1990s, Ozzy and Sharon paid $US4 million for a Beverly Hills mansion that would later be featured in the popular reality TV show The Osbournes. They sold the property to pop star Christina Aguilera in 2013 for $11.5 million. In 2012, Ozzy and Sharon sold an oceanfront beach mansion in Malibu for about $8 million. The Osbournes own a Hancock Park, Los Angeles estate, which was listed for $18 million before having its price reduced to $17.5 million and eventually being withdrawn from the market. Originally bought by the Osbournes in 2012 for a reported $12 million, the home is 11,565 square feet with seven bedrooms and 11 bathrooms. Meanwhile, in 2024, it was reported that the Osbournes were seeking a tenant for their West Hollywood, California apartment. They were asking $9500 monthly rent for the one-bedroom, two-bathroom unit in a high-rise building. Also, in 2024, the Osbournes re-listed their two-bedroom, 2.5-bathroom condo in the sought-after Sierra Towers in Los Angeles. It was initially listed in May 2023 with an asking price of US $4.795 million. Its asking price later dropped by $300,000. Last October, it was reported that the couple had finally sold the property for $4.35 million. Offering 2300 square feet of living space, the property features a large primary suite with an en suite bathroom and a large walk-in closet. The Osbournes bought the home in 2014 for $4 million.
Sydney Morning Herald
21 hours ago
- Automotive
- Sydney Morning Herald
Trump sparks a $6.4 billion wipeout for a US icon
GM says it believes it can eventually offset about a third of the $US4 billion to $US5 billion cost of the tariffs this year by cutting costs and shifting some production to the US. That suggests that the ongoing cost of the tariffs in the near term will be more than $US3.3 billion a year, although GM executives are hopeful that trade deals with South Korea, Mexico and Canada – where most of its imported cars are sourced – may reduce that cost. As this quarterly earnings season in the US continues, the commentaries from trade-exposed US companies will be pored over for references to the tariffs and how the companies are responding to them. Last week's June inflation data showed that in sectors directly exposed to tariffs – sectors like fresh fruit and vegetables, household appliances, furniture, toys, clothing and sporting goods – prices are rising. The cost of the tariffs in those sectors is being passed onto customers and is impacting the inflation rate. There's been a lot of inventory loading occurring in the US to get in ahead of the tariffs, so their impact on the inflation rate and/or companies' profits should progressively increase as those pre-tariff stocks run down. Loading There are some companies, of course, who benefit from the protection provided by tariffs, which shield them to some degree from competition from imports and where the increased cost of imports provides cover for domestic firms to raise their own prices. The US steel industry, with aluminium, was one of the earliest beneficiaries of Trump's tariffs. Trump announced a 25 per cent tariff on steel and aluminium imports in February and then doubled the rate, to 50 per cent, last month. About 23 per cent of the steel supply in the US is imported, with the rest produced domestically by steelmakers that are regarded as the world's most expensive producers. Their response to Trump's tariffs has, predictably, been opportunistic. They've raised their prices, which are up about 16 per cent this year. That's history repeating. In 2018, during Trump's initial trade war with China, he imposed a 25 per cent tariff on steel imports and the US steelmakers responded by lifting their prices by about 10 per cent, which added about $US2.5 billion to their profits. The 2018 experience shows the companies also improved their capacity utilisation and added investment and jobs – but the impact was relatively short-lived and the costs in jobs and lost earnings to steel-consuming industries were multiples of the benefits created for the steel producers. Not only is the duty on steel today double what it was in 2018, but it applies more broadly, not just to imported steel, but imports of steel 'derivatives,' or products where steel is a major component. The impact on the tariff on steel – and similar tariffs on aluminium and copper – will percolate through the US manufacturing sector, with a particular impact on an auto industry that is also subject to its own tariffs. If Trump follows through with his threatened 50 per cent tariff on all imports from Brazil (unless Brazilian authorities drops their prosecution of former president Jair Bolsonaro for an alleged attempted coup), the tariffs' impact on the cost of steel would be exacerbated. Brazil is a major supplier of raw materials to the sector. At some point, probably not too far into the distant future, GM and other US manufacturers will be overwhelmed by the cost increases flowing from the barrage of tariffs on auto and auto part imports and on their raw materials and unable to absorb them without passing on a substantial proportion of them to customers. That is when their full effects on the inflation rate will start to show up. The 'Trump effect' on the auto industry isn't confined to tariffs. His aversion to electric vehicles and climate-related initiatives and his assault on the Biden's administration's subsidies and incentives for carbon emission reductions and green energy includes the withdrawal of subsidies for EV purchases and tax credits for emissions reductions. That will hit Tesla, which has relied on the sale of the regulatory credits for its profitability – it would be loss-making without them – hardest. While Trump keeps claiming that the US is collecting massive amounts of tariff revenue from other countries' exporters, the GM experience underscores what almost everyone else has always understood. It might, in the near term, help other US EV manufacturers, even GM – the second-largest US domestic manufacturer of EVs – which have had to buy the credits to offset the emissions from their larger internal combustion vehicle production. What it and, thanks to tariff and non-tariff barriers, the near-total absence of competition from imported EVs will do, however, is drive up the cost of domestically produced EVs, reduce their sales volumes and undermine the scale efficiencies that might lead to EV profitability. Loading GM more than doubled its sales of EVs in the June quarter relative to the same quarter last year. In the near term reduced EV sales and losses might help blunt the effect of Trump's tariffs. In the longer term his policies will leave the GM and the US even further behind the global shift towards EVs and the electrification of energy and transport. Supposedly, the tariffs and the unwinding of Biden's green energy initiatives are going to help make America great again... .
The Age
21 hours ago
- Automotive
- The Age
Trump sparks a $6.4 billion wipeout for a US icon
GM says it believes it can eventually offset about a third of the $US4 billion to $US5 billion cost of the tariffs this year by cutting costs and shifting some production to the US. That suggests that the ongoing cost of the tariffs in the near term will be more than $US3.3 billion a year, although GM executives are hopeful that trade deals with South Korea, Mexico and Canada – where most of its imported cars are sourced – may reduce that cost. As this quarterly earnings season in the US continues, the commentaries from trade-exposed US companies will be pored over for references to the tariffs and how the companies are responding to them. Last week's June inflation data showed that in sectors directly exposed to tariffs – sectors like fresh fruit and vegetables, household appliances, furniture, toys, clothing and sporting goods – prices are rising. The cost of the tariffs in those sectors is being passed onto customers and is impacting the inflation rate. There's been a lot of inventory loading occurring in the US to get in ahead of the tariffs, so their impact on the inflation rate and/or companies' profits should progressively increase as those pre-tariff stocks run down. Loading There are some companies, of course, who benefit from the protection provided by tariffs, which shield them to some degree from competition from imports and where the increased cost of imports provides cover for domestic firms to raise their own prices. The US steel industry, with aluminium, was one of the earliest beneficiaries of Trump's tariffs. Trump announced a 25 per cent tariff on steel and aluminium imports in February and then doubled the rate, to 50 per cent, last month. About 23 per cent of the steel supply in the US is imported, with the rest produced domestically by steelmakers that are regarded as the world's most expensive producers. Their response to Trump's tariffs has, predictably, been opportunistic. They've raised their prices, which are up about 16 per cent this year. That's history repeating. In 2018, during Trump's initial trade war with China, he imposed a 25 per cent tariff on steel imports and the US steelmakers responded by lifting their prices by about 10 per cent, which added about $US2.5 billion to their profits. The 2018 experience shows the companies also improved their capacity utilisation and added investment and jobs – but the impact was relatively short-lived and the costs in jobs and lost earnings to steel-consuming industries were multiples of the benefits created for the steel producers. Not only is the duty on steel today double what it was in 2018, but it applies more broadly, not just to imported steel, but imports of steel 'derivatives,' or products where steel is a major component. The impact on the tariff on steel – and similar tariffs on aluminium and copper – will percolate through the US manufacturing sector, with a particular impact on an auto industry that is also subject to its own tariffs. If Trump follows through with his threatened 50 per cent tariff on all imports from Brazil (unless Brazilian authorities drops their prosecution of former president Jair Bolsonaro for an alleged attempted coup), the tariffs' impact on the cost of steel would be exacerbated. Brazil is a major supplier of raw materials to the sector. At some point, probably not too far into the distant future, GM and other US manufacturers will be overwhelmed by the cost increases flowing from the barrage of tariffs on auto and auto part imports and on their raw materials and unable to absorb them without passing on a substantial proportion of them to customers. That is when their full effects on the inflation rate will start to show up. The 'Trump effect' on the auto industry isn't confined to tariffs. His aversion to electric vehicles and climate-related initiatives and his assault on the Biden's administration's subsidies and incentives for carbon emission reductions and green energy includes the withdrawal of subsidies for EV purchases and tax credits for emissions reductions. That will hit Tesla, which has relied on the sale of the regulatory credits for its profitability – it would be loss-making without them – hardest. While Trump keeps claiming that the US is collecting massive amounts of tariff revenue from other countries' exporters, the GM experience underscores what almost everyone else has always understood. It might, in the near term, help other US EV manufacturers, even GM – the second-largest US domestic manufacturer of EVs – which have had to buy the credits to offset the emissions from their larger internal combustion vehicle production. What it and, thanks to tariff and non-tariff barriers, the near-total absence of competition from imported EVs will do, however, is drive up the cost of domestically produced EVs, reduce their sales volumes and undermine the scale efficiencies that might lead to EV profitability. Loading GM more than doubled its sales of EVs in the June quarter relative to the same quarter last year. In the near term reduced EV sales and losses might help blunt the effect of Trump's tariffs. In the longer term his policies will leave the GM and the US even further behind the global shift towards EVs and the electrification of energy and transport. Supposedly, the tariffs and the unwinding of Biden's green energy initiatives are going to help make America great again... .
Canberra Times
a day ago
- Entertainment
- Canberra Times
The property empire that Ozzy Osbourne and wife Sharon built for their family
Top celebrity stories of 2025 so far It's the news heavy metal fans never wanted to hear - Black Sabbath front-man and solo star Ozzy Osbourne has died aged 76. The death of "The Prince of Darkness" prompted an outpouring of grief from fans and the music industry's biggest names. Osbourne's death comes just weeks after he performed with metal pioneers Black Sabbath for the last time at a star-studded charity benefit show titled "Back to the Beginning" at the Villa Park stadium in Birmingham. Read more: Home is where the heart is: Parkway Drive drummer lists lavish Byron Bay property. Black Sabbath front-man and solo star Ozzy Osbourne has died aged 76. Picture: Getty That performance followed Osbourne leaving his long-time residence in the US and permanently relocating back to England with his wife and manager, TV personality Sharon. In 2020, Osbourne revealed he had Parkinson's disease after suffering a fall. After some delays, reports indicated the couple managed to officially leave America not long before Ozzy's death. Ozzy and Sharon shared three adult children, Aimee, Kelly and Jack, and five grandchildren. Ozzy also had two children from his first marriage. Ozzy and Sharon Osbourne. Picture: Getty Property history The couple purchased Welders House in Buckinghamshire more than 30 years ago. The estate is located in the parish of Chalfont St Peter, once named as one of the most expensive places to live in the UK. In 2022, it was revealed that the Osbournes planned to build a "rehabilitation wing" extension to the country estate as Ozzy battled Parkinson's. In the late 1990s, Ozzy and Sharon paid $US4 million for a Beverly Hills mansion that would later be featured in the popular reality TV show The Osbournes. They sold the property to pop star Christina Aguilera in 2013 for $11.5 million. In 2012, Ozzy and Sharon sold an oceanfront beach mansion in Malibu for about $8 million. Ozzy and Sharon Osbourne's mansion in Los Angeles' Hancock Park. Picture: Getty The Osbournes own a Hancock Park, Los Angeles estate, which was listed for $18 million before having its price reduced to $17.5 million and eventually being withdrawn from the market. Originally bought by the Osbournes in 2012 for a reported $12 million, the home is 11,565 square feet with seven bedrooms and 11 bathrooms. Meanwhile, in 2024, it was reported that the Osbournes were seeking a tenant for their West Hollywood, California apartment. They were asking $9500 monthly rent for the one-bedroom, two-bathroom unit in a high-rise building. The Osbournes' two-bedroom condo is in Los Angeles Sierra Towers building. Picture: Also, in 2024, the Osbournes re-listed their two-bedroom, 2.5-bathroom condo in the sought-after Sierra Towers in Los Angeles. It was initially listed in May 2023 with an asking price of US $4.795 million. Its asking price later dropped by $300,000. Last October, it was reported that the couple had finally sold the property for $4.35 million. Offering 2300 square feet of living space, the property features a large primary suite with an en suite bathroom and a large walk-in closet. The Osbournes bought the home in 2014 for $4 million.
The Advertiser
6 days ago
- Science
- The Advertiser
Largest piece of Mars on earth fetches millions
The largest piece of Mars ever found on earth has sold for just over $A8.2 million at an auction of rare geological and archaeological objects in New York. The 25kg rock named NWA 16788 was discovered in the Sahara Desert in Niger by a meteorite hunter in November 2023, after having been blown off the surface of Mars by a massive asteroid strike and travelling 225 million kilometres to earth, according to Sotheby's. The estimated sale price before the auction on Wednesday was $US2 million ($A3.1 million) to $US4 million ($A6.2 million). The identity of the buyer was not disclosed. The final bid was $US4.3 million ($A6.6 million). Adding various fees and costs, the official sale price was about $US5.3 million ($A8.2 million). The largest piece of Mars ever found on earth has sold for just over $A8.2 million at an auction of rare geological and archaeological objects in New York. The 25kg rock named NWA 16788 was discovered in the Sahara Desert in Niger by a meteorite hunter in November 2023, after having been blown off the surface of Mars by a massive asteroid strike and travelling 225 million kilometres to earth, according to Sotheby's. The estimated sale price before the auction on Wednesday was $US2 million ($A3.1 million) to $US4 million ($A6.2 million). The identity of the buyer was not disclosed. The final bid was $US4.3 million ($A6.6 million). Adding various fees and costs, the official sale price was about $US5.3 million ($A8.2 million). The largest piece of Mars ever found on earth has sold for just over $A8.2 million at an auction of rare geological and archaeological objects in New York. The 25kg rock named NWA 16788 was discovered in the Sahara Desert in Niger by a meteorite hunter in November 2023, after having been blown off the surface of Mars by a massive asteroid strike and travelling 225 million kilometres to earth, according to Sotheby's. The estimated sale price before the auction on Wednesday was $US2 million ($A3.1 million) to $US4 million ($A6.2 million). The identity of the buyer was not disclosed. The final bid was $US4.3 million ($A6.6 million). Adding various fees and costs, the official sale price was about $US5.3 million ($A8.2 million). The largest piece of Mars ever found on earth has sold for just over $A8.2 million at an auction of rare geological and archaeological objects in New York. The 25kg rock named NWA 16788 was discovered in the Sahara Desert in Niger by a meteorite hunter in November 2023, after having been blown off the surface of Mars by a massive asteroid strike and travelling 225 million kilometres to earth, according to Sotheby's. The estimated sale price before the auction on Wednesday was $US2 million ($A3.1 million) to $US4 million ($A6.2 million). The identity of the buyer was not disclosed. The final bid was $US4.3 million ($A6.6 million). Adding various fees and costs, the official sale price was about $US5.3 million ($A8.2 million).
