Australian share opened in line with losses on Wall Street, after the latest US inflation data renewed bets that the Federal Reserve is not yet done lifting interest rates.

The S&P/ASX 200 dropped 50 points, or 0.7 per cent at open, to 7040.6. The All Ordinaries was also down 0.7 per cent.

Rate sensitive companies were sold off with real estate the worst performing of the 11 sectors to be down 1.5 per cent. Utilities stocks were the only group to move higher in early trade to be up 0.3 per cent.

Meanwhile, the local currency plunged 1.6 per cent overnight below US64¢ and is trading at around US63.13¢ with the US dollar set to post its best session in five weeks. Looking ahead, CPI and PPI from China will be released just after midday.

What happened overnight

The US sharemarket turned lower, with the S&P 500 down 0.6 per cent, after US core consumer prices, which exclude food and energy, rose 0.3 per cent last month. Headline prices were 0.4 per cent higher. Both metrics were forecast to rise 0.3 per cent.

The year-on-year growth rate held at 3.7 per cent, whereas economists had forecast a drop to 3.6 per cent.

“I think the [Fed’s policy committee] would look at this and still conclude that underlying inflationary pressures remain too hot for their liking,” Scotiabank’s Derek Holt said.

The yield on the US 10-year note surged 13 basis points to 4.69 per cent at 4.30pm in New York. The two-year yield, more sensitive to rate moves, reached 5.07 per cent, and the 30-year yield was at 4.86 per cent.

Stocks on the move

Pact Group fell 1.4 per cent after billionaire Raphael Geminder’s plan to take his struggling packaging company off the ASX hit a major speed bump. Shareholders being urged to reject the deal following an independent review.

ResMed is trading 2.4 per cent lower and near its 52-week low following a note from brokers at RBC, which that downgraded stock to perform from outperform.

Bega Cheese is up 1.6 per cent after analysts at Bell Potter upgraded the foods business to a buy rating.

Perpetual is up 1.4 per cent after its assets under management held steady in the September quarter, in a sign flows may be stabilising for the struggling funds management firm.

Harvey Norman shares, which trade ex-dividend as of today, are down 3.9 per cent.

Fletcher Building will brief investors and analysts later today to provide an update on its Western Australian plumbing issues. Shares remain in a trading halt and last traded at $4.45

Read Before the Bell here.

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One of San Francisco’s most prominent and wealthy tech power couples are reportedly leaving the city.

Stewart Butterfield, the co-founder of both Slack and Flickr, and his wife Jen Rubio, CEO of luggage manufacturer Away, listed their Presidio Heights mansion this week, reports the Wall Street Journal. The 7,700-square-foot, seven-bed Victorian at 3636 Clay Street hit the market on Monday at $19.8 million.

The pair are leaving San Francisco for Aspen, Colo., where they recently purchased a $25 million mountain home, reports the WSJ.

Once referred to as “Silicon Valley’s newest ‘it’ couple” by Insider, the couple got engaged in 2019 after Butterfield appeared to propose to Rubio over Twitter, seemingly as a joke. Butterfield was previously married to his Flickr co-founder, Caterina Fake.

3636 Clay Street, San Francisco

Google Earth

After a previous stint working with Warby Parker, Rubio launched Away with co-founder Steph Korey in 2015. The luggage company has been valued at $1.45 billion, and Rubio’s net worth estimated at $130 million.

After founding photo hosting site Flickr in 2005, Butterfield and co-founders launched messaging software Slack in 2015. The company was bought by Salesforce in 2020 in a $27.7 billion “megadeal.” Butterfield’s net worth is estimated at $1.3 billion.

The home at 3636 Clay, between Locust and Spruce streets near Laurel Village, was built in 1899 and features a guest suite, a gym, a four-car garage, a private yard and a deck that opens out to a view of the Golden Gate Bridge.

Find the full, on the Sotheby’s site.

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One of San Francisco’s most prominent and wealthy tech power couples are reportedly leaving the city.

Stewart Butterfield, the co-founder of both Slack and Flickr, and his wife Jen Rubio, CEO of luggage manufacturer Away, listed their Presidio Heights mansion this week, reports the Wall Street Journal. The 7,700-square-foot, seven-bed Victorian at 3636 Clay Street hit the market on Monday at $19.8 million.

The pair are leaving San Francisco for Aspen, Colo., where they recently purchased a $25 million mountain home, reports the WSJ.

Once referred to as “Silicon Valley’s newest ‘it’ couple” by Insider, the couple got engaged in 2019 after Butterfield appeared to propose to Rubio over Twitter, seemingly as a joke. Butterfield was previously married to his Flickr co-founder, Caterina Fake.

3636 Clay Street, San Francisco

Google Earth

After a previous stint working with Warby Parker, Rubio launched Away with co-founder Steph Korey in 2015. The luggage company has been valued at $1.45 billion, and Rubio’s net worth estimated at $130 million.

After founding photo hosting site Flickr in 2005, Butterfield and co-founders launched messaging software Slack in 2015. The company was bought by Salesforce in 2020 in a $27.7 billion “megadeal.” Butterfield’s net worth is estimated at $1.3 billion.

The home at 3636 Clay, between Locust and Spruce streets near Laurel Village, was built in 1899 and features a guest suite, a gym, a four-car garage, a private yard and a deck that opens out to a view of the Golden Gate Bridge.

Find the full, on the Sotheby’s site.

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A historic townhouse in the prestigious Pacific Heights neighborhood of San Francisco that was owned by tech billionaire investor Orlando Bravo has sold for $13,875 million, according to the deed filed last week.

Situated on a corner lot, the four-story townhouse has 7,045 square feet of living space, including six bedrooms and seven bathrooms, according to the listing with Nina Hatvany of Compass.

Ms. Hatvany listed the property last September for $17 million and found a buyer in early March. The sale closed last Friday, listing records show.

FROM PENTA: The World’s Billionaire Population Tops 3,381, Adding 3 Each Week Last Year

The seller, Mr. Bravo, purchased the property in 2012 for $8.2 million, property records show. He is the co-founder and managing partner of Thoma Bravo, a private equity investment firm that specializes in software and technology-enabled services sectors. The Puerto Rican-born businessman has a net worth of $6.3 billion, according to Forbes’s real-time estimate.

Mr. Bravo did not immediately respond to an email request sent to his company.

The buyer was listed as an Idaho-registered limited liability company.

Ms. Hatvany declined to comment on the sale or parties involved.

The townhouse, built in 1894, retains many of its period details, including rich woodwork and paneling throughout. The main level is dedicated to entertaining, with formal dining, living and family rooms, and a chef’s kitchen with a deck and water views, according to the listing.

Other amenities include a wine cellar, a wet bar, a playroom, a roof deck, a landscaped garden, and a three-car garage, the listing said.

Although the sales price was a more than $3 million discount from the listing price of $17 million, it still marks the highest price for a San Francisco home sold so far this year, according to Multiple Listing Service.

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The billionaire founder and CEO of Airbnb has announced that he’ll be working from a variety of rental apartments from now on – while hopping from city to city.

Brian Chesky, 40, who is currently worth an estimated $12.3 billion, took to Twitter yesterday to announce his alternative work style.

In a series of tweets, he outlined where he would be staying over the next few weeks and why he chose to operate in so many different locations.

He wrote: “As of today I live on Airbnb. I will be staying in a different town or city every few weeks.

Brian Chesky, 40, who currently has an estimated fortune of $12.3 billion, announced on Twitter yesterday that he would be staying in a series of Airbnbs while hopping around town

In a series of tweets, Chesky explained that he planned to start in Atlanta but would be visiting San Francisco — and other places — while staying in a number of Airbnbs

“This week I’m in Atlanta. I will return to San Francisco often, but for now my home will be somewhere on Airbnb.

‘Why do I do this? I think the pandemic has changed travel the most since the advent of commercial flying. For the first time, millions of people can now live anywhere.”

Chesky went on to explain that remote work has “unleashed” many people from the requirement to work in an office every day.

“We see this in our data,” he added. “From July through September, one in five nights booked on Airbnb was for stays of a month or longer, and almost half of the nights booked were for stays of a week or longer.

“Last year, 100,000 Airbnb guests booked stays of three months or longer. I think the biggest travel trend in 2022 will be people sprawling out into thousands of cities and towns, staying for weeks, months, or even whole seasons at a time.

Chesky went on to explain that remote work has freed many people from the need to work in an office every day (stock image of Airbnb logo).

“More people will start living abroad, others will travel all summer, and some will even give up their rental contracts and become digital nomads.

“Cities and countries will compete to attract these remote workers and this will lead to a redistribution of the places people travel and live.

“This trend is something of a decentralization of life and changing the identity of travel. That’s why I live on Airbnb. It will be fun, but more importantly, it will help us improve the experience for people who can now live anywhere.’

According to the Future Workforce Report, the number of US citizens working from home is projected to increase to 36.2 million by 2025.

And with fewer staff needing to be in the office due to the Covid pandemic, people took the opportunity to get more exercise.

Airbnb reported record profits of $2.2 billion in the third quarter of 2021 — a 36 percent increase compared to the same period in 2019 before the pandemic.

Last year, Airbnb quietly removed a clause from its 40-page Terms of Service that allowed hosts and guests to sue the company for sexual assault and harassment in its listings

Chesky founded Airbnb in 2008 with roommates Nathan Blecharczyk and Joe Gebbia — both of whom own smaller stakes in the company than Chesky.

In 2020, the company went public, with the share price rising to $144, more than doubling its original value.

Last year, Airbnb quietly removed a clause from its 40-page Terms of Service that allowed hosts and guests to sue the company for sexual assault and harassment in its listings.

The clause — which said customers who claimed sexual assault or sexual harassment occurred in an Airbnb building must seek a judge to settle the dispute — had been buried in the terms for more than a decade.

The 150 million Airbnb users agreed to this clause when they registered for the site.

The 150 million Airbnb users agreed to the previous clause when they registered for the site. In a statement released alongside the change last year, Airbnb said it was to “build trust” by “doing the right thing on the rare occasions when something goes wrong.”

In a statement released in August 2021, Airbnb said, “We announce that in the next version of the Airbnb Terms of Service, the arbitration provisions will no longer apply to claims of sexual assault or sexual harassment by hosts or guests.”

“We believe survivors should be able to make claims in the forum most appropriate to them,” the statement said.

It also encouraged “industry peers in the travel and hospitality space to consider similar moves for their respective communities.”

Airbnb concluded the statement by assuring hosts and guests that it “builds trust” by “doing the right thing on the rare occasions when something goes wrong.”

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Tom Steyer’s home in San Francisco

realtor.com

Activist, philanthropist and environmentalist Tom Steyer has put his green home in San Francisco up for sale. The former presidential candidate’s house in the posh Pacific Heights neighborhood is listed for $ 11 million.

The 5,625-square-foot residence was built in 1908 and is bursting with eco-friendly features, including 30 solar panels on the roof, a generator that powers most areas of the home, a solar glass awning along the front of the home, and much more double helix wind turbine.

Even the lush landscaping has a green touch – multiple hydroponic planting systems are hidden among hedges, ferns, and waterfalls.

A striking planter filled with flowers adorns one of the concrete outer walls.

Living wall of Tom Steyer’s residence in San Francisco’s Pacific Heights

realtor.com

Tom Steyer’s home in San Francisco

realtor.com

living room

realtor.com

But this seven-bedroom, 5.5-bath residence is not only eco-friendly, it’s family-friendly too. After all, Steyer has four children.

One of the bedrooms has a multi-student desk overlooking a window – great for home study. Another bedroom has a quaint fireplace.

Children’s room with study area

realtor.com

There are also two family rooms, one with multiple French doors, wall-mounted speakers, and a wall of custom bookcases with an attached ladder.

The other, on the third floor, is a spacious room with picture windows facing south to Twin Peaks and the San Francisco hills.

living room

realtor.com

If those two family rooms aren’t enough, the lower level has a huge, gym-like game room with a basketball hoop and enough space for a pool table, ping pong table, and every other table game you can think of.

Playroom

realtor.com

The playroom only takes up part of the space on the lower level. The rest is dedicated to a place for residents, with a front living room, bedroom and bathroom with shower.

Guest suite

realtor.com

For outdoor recreation, there is an aft deck area with a lacrosse / tennis backboard at one end and ample seating at the other end.

A stone path meanders through flowers to a stone bench and a charming playhouse / tree house.

backyard

realtor.com

The house has a modern, open kitchen with a double oven, sub-zero refrigerator and a 5-burner hob.

It is equipped with a mixture of white and frosted glass cabinets with a flat front as well as a slate worktop and a back wall. There is a center island with two stainless steel sinks, an additional preparation sink and a breakfast bar.

kitchen

realtor.com

The older family members are also well accommodated, with a primary suite at the front of the house that has large windows facing south and west to let in light.

The master bedroom also has a walk-in closet with built-in wardrobes and an en-suite bathroom with a separate shower and bathtub.

Main suite

realtor.com

The location is prime too – the house is two blocks from the entrance to the Presidio and five blocks from Alta Plaza Park. It’s also close to trendy shops and restaurants on Sacramento and Fillmore Streets.

Steyer, 63, is a billionaire who made his living with a hedge fund. He and his wife signed “The Giving Pledge,” pledging to donate half of their fortune to charity during their lifetime, and also founded NextGen America, a nonprofit that supports progressive positions on climate change, immigration, health care and education .

In July 2019, he decided to run as a candidate in the 2020 Democratic presidential primaries. He’s estimated to have spent over $ 250 million on his campaign before he threw in the towel in February 2020.

Nina Hatvany from Compass San Francisco made the list.

This story was originally published on Realtor.com

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John Pritzker hopes the gift he and his former wife Lisa Stone are giving Pritzker will be made … [+] UCSF will reduce the stigma surrounding mental health discussion and treatment.

Photo courtesy John Pritzker

A major hurdle in treating mental health problems is reluctance in large parts of society to talk about it – whether it is an eating disorder, schizophrenia, or any other mental illness. John Pritzker, a billionaire from San Francisco, and his former wife Lisa Stone Pritzker are doing their part to change that: They are donating nearly $ 60 million to build a state-of-the-art psychiatric facility for UC San Francisco next to the university campus in the neighborhood Mission Bay. The building will house researchers, interdisciplinary academics and mental health services for patients of all ages.

Mental health is a personal problem for these philanthropists. The structure is named the Nancy Friend Pritzker Psychiatry Building in honor of John’s sister Nancy, who died of suicide during an episode of depression in 1972. “Nancy was a brilliant, fun, beautiful young woman who was struggling with mental health,” says John, who remembers that when his sister died no one spoke about it. Later, John said he and his younger sister Gigi had discussed Nancy’s illness and death, and “there was an enormous sense of relief. The more you talk about it, the easier it becomes to talk about it. “A major goal of this center is to reduce the stigma around discussing mental health problems so that more people can recognize them and seek treatment.

Nancy Friend Pritzker (d. 1972), after whom the new UCSF psychiatric building is named.

Photo courtesy John Pritzker

Lisa Stone Pritzker recalls how someone in her immediate family suffered from depression and how it affected her entire family. It also led her to volunteer in the psychiatric department at San Francisco General Hospital about 17 years ago. “I saw tiny children waiting for psychiatric care in cramped, poorly-lit waiting rooms, often sitting next to adults in dire distress,” she says. That led her to come up with a vision for a place with a more family-friendly environment. The new Nancy Friend Pritzker Psychiatry building, due to open this fall, will have its own children’s, youth and family center to create a welcoming environment.

Mental health is a national issue that was a tough topic during the pandemic. Almost one in five American adults lives with a mental disorder, while one in six children between the ages of six and 17 has such an illness, according to UC San Francisco. Suicide is the second leading cause of death among US teenagers.

However, mental health is also an area where great philanthropic gifts aren’t too common, especially when compared to gifts made to research a wide variety of cancers – although there have been some significant mental health gifts and pledges over the past decade. In 2019, the family of late billionaire Jon Huntsman announced a 10-year donation of $ 150 million to the University of Utah to help start the Huntsman Mental Health Institute. In 2014, Connecticut businessman and philanthropist Ted Stanley made a $ 650 million commitment to mental health research at Broad Institute, a Cambridge, Massachusetts research center that works with MIT and Harvard. And in 2012, New York real estate billionaire Mortimer Zuckerman pledged $ 200 million to establish a Mind Brain Behavior Center named after him at Columbia University.

Matthew State, chairman and professor of psychiatry and behavioral science at UCSF, says the Pritzkers donation enabled UC San Francisco to create a building from a blank sheet of paper and design it with an emphasis on patient care. “We will have physical and mental health care providers right next to each other,” he said, adding that for a patient with an eating disorder, for example, the psychiatrist and nutritionist will be in the same building, which is not the case. It was the norm. “The idea is to build care around the patients and families,” State explains.

John Pritzker comes from the Chicago-based family behind Hyatt Hotels, which is run by his brother Tom Pritzker. John sold his stake in Hyatt to relatives in 2010 and then built his own boutique hotel management company, known as Two Roads Hospitality after a merger in 2016. In late 2018, Hyatt bought Two Roads for $ 408 million plus a potential $ 96 million if certain results were achieved. John and Lisa Pritzker divorced in 2019; Lisa is a board member of UCSF.

If you or someone you know is at risk of self-harm, the National Suicide Prevention Lifeline offers 24-hour support at 1-800-273-8255.

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