AN airport on an overlooked Greek island is being transformed – making it much easier to get to.

Paros is found between Santorini and Mykonos, although has far fewer tourists visit.

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Just 200,000 tourists visit a year – compared to Santorini’s two million – with the easiest way to visit via a 40-minute flight from Athens.

But the airport is undergoing a huge €41million (£34million) renovation.

A new terminal is being added, to cope with the increasing popularity of the island.

Inside will be four gate lounges, as well as seven check in counters, duty free shops and food and drink.

The new Terminal of Paros Airport was planned by the Hellenic Civil Aviation Authority as a response to the steadily increasing popularity of the Aegean Island.

Hellenic Aviation Service Provider (HASP) Governor George Saounatsos said the new terminal will be “17 times larger” than the current one, according to local media.

He said: “The functional and modern design of the new terminal will position Paros as a leading destination for tourist arrivals through the airport.

“Passengers will benefit from a significantly enhanced travel experience thanks to the upgraded infrastructure.”

The runway is also being extended with from 1,400m to 1,800m, meaning it can take on larger aircraft, along with the on-site car park.

A new state-of-the-art control tower and new 12,500sqm passenger hall are also being added.

The works, which were first announced in 2020, hoped to be finished by 2023.

This was later delayed, with most of the phases to now be finished by 2026.

While it hasn’t been confirmed which airlines this could include, there are hopes it will encourage international flights.

The Paros municipality said: “We are certain that the airport’s upgrade – with the necessary staff and equipment – will spur the interest of more airlines”.

If you fancy visiting Paros, it was recently named one of the top trending destinations for 2025 by American Express.

While the easiest way to visit is a flight from Athens, you can also visit on day trips from Mykonos or Santorini by boat.

Its much more affordable too, with cheaper hotels and typical spends around £100 lower than Santorini.

It’s not the only new airport opening in Greece.

Kastelli International Airport will replace the existing Nikos Kazantzakis International Airport in Heraklion by 2027.

The current airport has been open since 1937, and can only handle eight million passengers a year.

The newer airport – estimated to be costing (£422million – will be able to handle 18million passengers per year.

When built in Crete, it will be one of Greece’s biggest airports.

Greenland, the world’s biggest island, is opening three new airports.

And Hong Kong’s airport is undergoing a £13.9billion renovation – with a new runway opening next month.

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Prada scion Lorenzo Bertelli was in his element alongside top executives from Axiom Space during the International Astronautical Congress in Milan on Wednesday, as the Italian fashion group and the US aerospace start-up unveiled the spacesuits that will take astronauts to the moon on Nasa’s upcoming Artemis III mission. 

The not-very-fashionable but highly engineered 200kg-plus gender-neutral white extravehicular mobility unit spacesuit comes with grey knee and elbow padding and a sizing scheme that is expected to accommodate a wide range of body shapes.

For Bertelli, a former race car driver, space is the next frontier. He cites the £1bn investment that Prada has made over two decades in research and engineering for its competitive sailing team Luna Rossa and its apparel line Linea Rossa. “We launched Luna Rossa and then decided to compete in the America’s Cup because we wanted a new challenge. Then came the Linea Rossa line because we needed to equip sailors with the best attire possible,” he explains. “It starts with a vision . . . then we figure things out.”

Prada’s latest collaboration with Axiom Space, which is in the race to build the first commercial space station, is uncharted territory for fashion houses. Though Bertelli’s mother Miuccia Prada’s latest collection is characterised by futuristic elements, the spacesuit endeavour has taken the group’s experimental nature to the next level.  

We sell bags which enable us to invest in projects like this

Bertelli believes the research and technical expertise the group is acquiring through its work for the Artemis III mission will give Prada a competitive edge once commercial trips to space become more widely available. “I know anyone can go to space today, the problem is that the price ticket is too high,” says Bertelli. “Once the sector scales up, the price will go down and there will be a huge opportunity.”

Axiom Space president Matt Ondler adds that the partnership had “set a new foundational model for cross-industry collaboration, further expanding what’s possible in commercial space”. 

The red stripes on the spacesuit are an echo of the sailors’ Linea Rossa logo. They have also been a regular fixture of Nasa’s spacesuits since Apollo 13 as a way to identify the missions’ commanders in photos and videos from space.

Following the pandemic, Bertelli reached out to Axiom, which was only a few years old, and made a bid for the Nasa contract. Russell Ralston, the executive vice-president for extravehicular activity for Axiom Space, was caught by surprise but then, he says, he realised the partnership had a “high potential”. 

Prada’s expertise in high-performance materials, production and fibre blending contributed to the development of the spacesuits’ outer layer. Its design and product team also worked with Axiom’s engineers on customised features that would protect astronauts against the rough lunar environment while also enhancing movement.

Features of the inner layer include thermoregulation, an in-suit nutrition system, biometric monitoring, a regenerable CO₂ scrubbing system and a variable suit pressure device. The boots, which Ralston says were the most challenging part of the suit to develop, are engineered to withstand both extremely high and extremely low temperatures. 

As Nasa sets out to find water in the craters of the moon’s south pole, where the surface’s temperature can vary from freezing cold to several hundred degrees above zero Celsius, astronauts will be able to spacewalk for eight hours in the Axiom-Prada spacesuits.

Minor tweaks to the current design are to be expected before the mission launches — “It has already changed a lot since we unveiled the prototype two years ago,” says Ralston — but executives from both companies tout the “excellent” balance they have been able to strike between mobility, performance and endurance.

Prada’s long-term objective is to participate in the development of the space suits’ internal layer too, by leveraging its sailboat engineering expertise (competitive sailboats are specially built to be resistant but light, for example).

For now, Bertelli says he’s proud that the group “has pushed beyond its limits”. He continues: “I don’t know if this will end up being strategic for Prada. For now we sell bags which enable us to invest in projects like this, but one day when going to space will be [common], we will be able [to dress space tourists] thanks to the knowledge we are building.”

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TESCO and Primark are some of the high street retailers extending their product return dates this Christmas.

Receiving a gift you don’t like is never ideal and even worse if it means someone is left out of pocket as a result.

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However, plenty of retailers extend their usual return policies over the festive period to allow for this.

Tesco, Primark, John Lewis and B&M are all offering shoppers wider returns windows for Christmas this year.

Bear in mind, refund policies vary depending on where you’ve bought an item from.

Under usual refund policies, where you have a receipt, most retailers will offer you a full refund – on card if that’s how you paid, or by cash.

Where you’ve got a gift receipt, you’ll usually be offered a gift card.

Where returns are made after the goodwill period, but before the Christmas returns period ends, gift cards or exchanges for something else are more common.

Whether you’ve bought items online or in-store can also have an impact on how you’re refunded.

Below, we round up what some of the bigger UK retailers are offering customers this year.

John Lewis

John Lewis said it has extended its usual time window for returns for the festive season.

The posh retailer said any gift bought between September 26 and December 24 can be returned up until January 23, 2025 if it is unwanted.

Shoppers will need to bring a valid receipt with them to get the refund.

Sainsbury’s and Argos

Sainsbury’s and Argos, which is owned by Sainbury’s, is also extending its return window over the Christmas period.

Any items purchased from September 27 to December 25 can be returned right up until the end of January 31, 2025.

New Look

Fashion retailer New Look is offering shoppers an extended returns window on any products bought in-store or online.

Any items bought between October 28 and December 8 can be returned until the end of January 5.

For any sale products bought in-store or online, New Look’s standard 14-day return policy will apply.

Meanwhile, any sale items bought in-store are exchange-only.

This means shoppers can only return an item and replace it with another item.

M&S

M&S has boosted the length of time shoppers can return any unwanted products over the Christmas period.

Any purchases made online or in-store between October 10 and December 24 can be returned up until January 26, 2025.

For any purchases made from December 25 onwards, M&S’ normal refund policy will apply.

M&S said the tweaked Christmas returns policy does not apply to sale items.

Tesco

Tesco is extending its normal 30-day returns policy to any gifts purchased between October 1 and December 24.

Any purchases made between this period can be returned up until January 31, 2025.

The retailer said the extended policy applies to any products bought via Grocery Home Shopping and Marketplace.

Primark

Primark said any items bought between October 15 and January 3, 2025, can be returned up until January 31, 2025.

The retailer said the returns date has been printed on all till receipts as a reminder to shoppers.

From January 3 next year, Primark will go back to its standard 28-day return and exchange policy.

B&M

Bargain discounter B&M said customers buying any Christmas item in-store from November 3 have until January 31, 2025 to return it.

The retailer said proof of purchase, like a receipt, will need to be provided.

Lidl

German discounter Lidl said any non-food products bought from November 4 can be returned up until January 6, 2025.

After January 6, its standard 30-day returns policy will apply.

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After a weekslong rally that saw shares of Trump Media & Technology Group (DJT) roughly triple in value, the stock took an 8% nosedive Tuesday afternoon.

Shares of the company behind former President Donald Trump’s right-wing social media platform Truth Social fell to $26.60 apiece after having been up roughly 10% that morning. Tuesday’s volatility led to the Nasdaq briefly halting trading.

The company’s stock has fluctuated wildly in value in the nearly seven months since it went public under the ticker DJT. Late last month, shares dropped as low as $12.15 each. Since Oct. 1, however, Trump Media shares are up 70%.

This see-sawing comes just weeks before the presidential election, which will see Trump face off against Democratic presidential candidate and Vice President Kamala Harris at the ballot box.

Trump is a majority shareholder of Trump Media, holding roughly 57% of the company’s stock — and he has said he has no plans to let go of his holdings. The stock’s recent rally has added some $2 billion to Trump’s net worth.

Trump Media has been widely considered a “meme stock” or “affinity stock,” with shares trading largely on sentiment about the former president by retail and individual investors, regardless of the company’s actual operating results or prospects.

“It’s purchasing his brand,” John Rekenthaler, vice president of research at Morningstar (MORN), previously told Quartz. He warned that the company’s stock could “go to zero” or close to it if Trump loses the coming election.

Trump Media has said in regulatory filings that its “success depends in part on the popularity of its brand and the reputation and popularity” of Trump and that “adverse reactions to publicity relating to [Trump], or the loss of his services, could adversely affect TMTG’s revenues and results of operations.”

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Shares of memory leader Micron (NASDAQ: MU), Applied Materials (NASDAQ: AMAT), and KLA Corporation (NASDAQ: KLAC) plunged on Tuesday, down 4.3%, 10.9%, and 15.5%, respectively, as of 3:28 p.m. ET.

Semiconductor stocks largely sold off across the board today after equipment leader ASML Holdings (NASDAQ: ASML) accidentally leaked its third-quarter results and outlook, which were supposed to be published tomorrow.

The results and guidance were highly disappointing, sending fears across the sector.

ASML disappoints on a “slower than expected” recovery

In the leaked press release, ASML showed 11.2% revenue growth and 9.1% earnings-per-share (EPS) growth, which aren’t terrible growth figures by any means, with the top line exceeding the company’s guidance last quarter.

However, the bookings figure and outlook for 2025, also contained in the press release, were more worrisome. Net bookings, which reflect revenue plus or minus the change in orders in backlog, were only 2.6 billion euros (~$2.8 billion), far below expectations of 5.39 billion euros (~$5.87 billion).

Moreover, management gave preliminary revenue guidance for 2025 of between 30 billion and 35 billion euros (~$33 billion to $38 billion). While that still portends mid-teens growth above expected 2024 figures of 28 billion euros (~$30 billion), it was below the 36.3 billion euros (~$39.5 billion) analysts were expecting.

Management noted in the press release:

ASML is likely referring to Intel, which has seen lower near-term demand, and Samsung, which has been beset by operational issues and is pushing out its fab expansions. ASML management also noted limited capacity additions for DRAM memory suppliers, as most are converting unused equipment for non-artificial intelligence (AI) memory to production lines for HBM and DDR-5 for AI.

The semiconductor capital equipment sector is very linked. So, if a large fab is pushed out, not only will ASML see slower growth, but so will the etch and deposition equipment supplied by Applied Materials and the metrology and inspection equipment provided by KLA Corporation along with it. Thus, it’s no surprise to see each of those stocks sell off to ASML today by a similar amount.

Micron is also down, given that ASML indicated softer end-demand across non-AI markets. However, it may also be positive for Micron that memory rivals are scaling back their investments in memory capacity. Unlike that of advanced logic chips, memory pricing can fluctuate a lot based on supply and demand. So, the discipline to pull back investments could be a good thing for memory pricing. That’s likely why Micron’s stock is holding up better than the others.

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The sell-off may be a good opportunity

This sell-off may be an opportunity for chip investors since the recovery in non-AI markets is very likely to happen at some point, even if a full recovery doesn’t happen as fast as some forecast. After all, the midpoint of ASML’s guidance still points to 16% growth next year. And pushing fab buildouts from 2025 to 2026 should entail more sustained growth beyond 2025.

It seems that 2024 corporate budgets may have been dominated by expensive AI spending, crowding out refreshes of non-AI servers and PCs. However, this aging equipment will have to be refreshed eventually, especially since Windows 10 support will be phased out in October 2025. Furthermore, as more AI-enabled devices come to market, that should be a boon for chip content across all devices in PCs, smartphones, and auto markets that are still lagging today.

So, for those investors with a long-term view, this sell-off based on the medium-term outlook may be an opportunity to pick up high-quality semiconductor names, such as these three, for the long haul.

Don’t miss this second chance at a potentially lucrative opportunity

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Billy Duberstein and/or his clients have positions in ASML, Applied Materials, Intel, KLA, and Micron Technology. The Motley Fool has positions in and recommends ASML and Applied Materials. The Motley Fool recommends Intel and recommends the following options: short November 2024 $24 calls on Intel. The Motley Fool has a disclosure policy.

Why Semiconductor Stocks Micron, Applied Materials, and KLA Corporation Plunged Today was originally published by The Motley Fool

When you hear “$4 million,” does it sound like a dream retirement nest egg or an actual goal? If you’re thinking, “Yeah, right!” you’re not alone.

Most people are curious about how they compare to others in terms of savings, but few can fathom hitting such a high target. So, how many people have $4 million saved? And more importantly, do you need that much to retire comfortably? According to a study, many people believe you need even more than this for retirement!

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The $4 Million Reality

According to data based on estimates from the Federal Reserve, having a net worth of $4 million places you in the top 3% of American households. That’s an elite group, for sure.

Leigh Baldwin & Co. Advisory Services reports about 4,473,836 U.S. households have amassed $4 million or more in wealth. This figure represents roughly 3.44% of all households in the country.

While this is a slim percentage, a recent survey from New York Life found that today’s workers believe they would need an average of $4.3 million to retire comfortably. The idea of having millions tucked away for your golden years might sound ideal, but the reality for most people is quite different.

See Also: Can you guess how many retire with a $5,000,000 nest egg? – How does it compare to the average?

Where Do Americans Stand?

Let’s get real: most Americans are nowhere near that kind of savings. Having $1 million in tax-advantaged retirement accounts could put you in the top 3.2% of retirement savers, but most people find themselves far behind this mark.

According to the Federal Reserve Survey of Consumer Finances, Americans’ average retirement savings is $334,000, while the median – a more accurate picture – is just $86,900. Although people may feel they need millions to retire, they aren’t actually saving millions.

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The question of how much you need to retire comfortably pops up for savers again and again. In a Forbes article, Michelle Richter-Gordon, co-founder of Annuity Research and Consulting in New York City, explained, “People don’t know how much they need at all. They also don’t know when they will retire.”

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The problem is compounded by many people relying on online retirement calculators to figure out their savings needs. While these tools can be helpful, they often overestimate the amount of money required, leaving people feeling overwhelmed or discouraged.

Some of these calculators are provided by investment firms, which may want to boost your contributions to grow their revenues. It’s no wonder that retirement feels like an uphill battle for many.

See Also: Boomers and Gen Z agree they need a salary of around $125,000 a year to be happy, but Millennials say they need how much?

What Do You Need for Retirement?

It’s important to consider your retirement goals. The amount you need depends on various factors, such as where you plan to live, lifestyle choices and health care costs.

Many experts suggest that aiming for around $1 million to $2 million in retirement savings may be more realistic for most Americans, especially when factoring in Social Security benefits and other sources of income.

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Even if saving millions of dollars seems like a distant dream, losing hope is unnecessary. Start by setting achievable goals, saving consistently and monitoring your long-term financial health. The road to retirement doesn’t have to be intimidating. Ultimately, it’s about making smart financial choices that allow you to live comfortably, not just chasing big numbers.

It’s always a good idea to consult with a financial advisor to ensure you’re on track to retire where you want, without the pressure of hitting some magic number.

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This article Can You Guess What Percent Of People Have $4 Million? Here’s A Look At How Many Reach This Major Wealth Milestone originally appeared on Benzinga.com

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