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☆ Interest rates and the AI-fueled rally remain top of mind for stock investors in the week ahead
▼ + stars: | 2024-05-03 | by ( Alex Harring | ) www.cnbc.com time to read: +9 min

The Fed and economic policy were top of mind this week given the central bank's Wednesday decision to yet again leave interest rates unchanged , as it has since last summer. This week included the conclusion of April's trading month, which marked the first down month of the year for all three major market averages. Indeed, some recent earnings reports have raised doubts about the economy, with brands from McDonald's and Starbucks evidencing signs of strain among consumers. While no new inflation numbers are scheduled for release next week, investors will see reports on March wholesale inventories, March consumer credit and May consumer sentiment from the University of Michigan. AI trade Though interest rates took center stage this week, investors also continued monitoring companies tied to the artificial intelligence boom amid the stocks' recent choppiness.

Persons: they're, Jerome Powell, Larry Tentarelli, David Donabedian, Sam Stovall, There's, Stovall, Tom Hainlin, Tentarelli, CFRA's Stovall, Lyft, Cabot, Aramark, Tempur Sealy, Nikola, Walt Disney, Sally Beauty, Warby Parker, Krispy Kreme, Papa John's Organizations: Federal Reserve, Treasury, Nasdaq, Dow Jones, CIBC Private Wealth, Dow, CFRA, Citigroup, Bank of America, U.S, Bank Wealth Management, University of Michigan, Nvidia, Disney, Spirit Airlines, Tyson Foods, Pharmaceuticals, Lucid, Palantir Technologies, Simon Property, Tech, Lab, Goodyear Tire, Noble Corp, Vornado Realty, Coty, BellRing, Consumer, UBS, BP, Nintendo, Bloomin, Duke Energy, Rockwell Automation, Ferrari, NRG Energy, Electronic Arts, Cirrus, Adaptive Biotech, Arista Networks, Dutch Bros, Holdings, Virgin Galactic, IAC, Rivian Automotive, Brighthouse, Occidental Petroleum, Assurant, Kinross Gold, Labs, Diamond, Reddit, Anheuser, Busch InBev, Embraer, Health, United Parks & Resorts, Emerson Electric, Brookfield , New York Times, Food, Reynolds Consumer Products, Teva Pharma, Uber Technologies, Dine Brands, Liberty Broadband, Fox Corp, Cushman &, Liberty Media, Arm Holdings, Kodiak Gas Services, Solaredge Technologies, AMC Entertainment, Cheesecake, News Corp, Toyota Motors, Fair, US Foods, Hyatt Hotels, Warner Bros, Hilton, Warner Music Group, Unity Software, Insurance, Gen, Honda, AMC Networks Locations: Central, McDonald's, Expeditors, Occidental, Angi, Brookfield , New, Ambev, Cushman & Wakefield, Michigan

☆ Vietnam wants to take China's place as a new factory of the world — but a $12 billion financial fraud case is getting in the way
▼ + stars: | 2024-04-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Vietnamese real-estate tycoon Truong My Lan was sentenced to death for her role in a $12.5 billion fraud case. Lan's fraud case is part of Communist Party Secretary Nguyen Phu Trong's corruption crackdown. Lan, the chairwoman of real-estate developer Van Thinh Phat Group, was arrested in 2022 over the fraud case. AdvertisementThe high-profile fraud case has scandalized the country and is raising questions about the one-party state. For context on the scale of the Vietnam fraud case, consider the 1MDB case, which rocked Malaysia and the world when it started to unravel in 2015.

Persons: Truong, Lan, Communist Party Secretary Nguyen Phu, —, Van Thinh, Zachary Abuza, Trang Bui, Bui Organizations: Communist Party Secretary, Service, Prosecutors, Vietnamese Communist Party, National War College, Washington DC, Bloomberg, Cushman, Nikkei Locations: Vietnam, China, Malaysia, Malaysian, Hanoi, Washington, Wakefield

☆ Commercial real estate services firm restructures debt after default as industry's problems widen
▼ + stars: | 2024-02-26 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +6 min

The announcement came after S&P Global Ratings lowered Avison's credit on Friday and reported that the company had defaulted on the loan. Weeks earlier, S&P had downgraded the credit rating of Cushman & Wakefield, another major services firm. Higher interest rates have dislocated property values and stifled sales transactions, cutting off a major revenue stream for these firms. Leasing activity across major property types, meanwhile, including office, remains diminished. A push into US real estateAvison sought to rapidly grow in the US over the past decade, including in major commercial real estate markets such as New York City.

Persons: Avison Young, Weeks, Cushman, –, Mark Rose, Avison, Rose, CDPQ, Arbour, MSCI, doesn't, that's Organizations: Cushman & Wakefield, Business, Leasing, Caisse, Federal Reserve Locations: Toronto, Avison, Lane, Stamford , Connecticut, New York City

☆ Fraud like nobody's watching: Trump was probed for 5 years, and still wouldn't clean up his act
▼ + stars: | 2024-02-18 | by ( Laura Italiano | ) www.businessinsider.com time to read: +11 min

Donald Trump's fraud verdict targets three things he values dearly: his cash, his New York business address, and the Trump Organization steering wheel. Otherwise, as Engoron noted in his verdict, Trump, his company, and his sons, Donald Trump Jr. and Eric Trump, "are likely to continue their fraudulent ways." In previous years, Trump has settled allegations of fraud involving the Trump Foundation, Trump University, and the 2017 Inaugural Committee, Amer pointed out in closings. The same day James concluded her initial investigation and filed her massive Trump fraud lawsuit, on September 21, 2022, Trump incorporated "Trump Organization II" in what her office worried was an attempt to shift and protect assets. Advertisement"In short," they added, Trump and Trump Organization leadership "have proven themselves incapable, time and again, of following the law."

Persons: Trump, Donald Trump's, —, he's, Letitia James, Arthur Engoron, James, he'll, Barbara Jones —, Judge Jones, Jones, Engoron, Donald Trump Jr, Eric Trump, Cushman, Trump's, Allen Weisselberg, Patrick Birney, Birney, Weisselberg, Donald, — Trump, Andrew Amer, Amer, — Jones, Jean Carroll, Kevin Wallace, Christopher Kise, Kise, She's Organizations: NY, Trump Organization, Trump, GOP, New York, Deutsche Bank, Mazars, Trump Org, Trump Foundation, Trump University, New, Independent Monitor Locations: New York, Mazars USA, Wakefield, Trump

☆ Harvard's president resigning means more drama for other universities
▼ + stars: | 2024-01-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the resignation of another Ivy League president and the knock-on effect it'll have on education in the US. The big storyIvy League issuesBrian Snyder/ReutersClaudine Gay's tenure as Harvard president wasn't long, but it won't be forgotten. Alan Garber, Harvard's provost and chief academic officer, will serve as interim president, the school's board announced. Gay is the second Ivy League president to step down in less than a month, following in the footsteps of former Penn president Elizabeth Magill. Harvard president Claudine Gay Kevin Dietsch/Getty ImagesGay and Magill's departures highlight the tension between businesses and prestigious universities and the former's influence over the latter.

Persons: —, Bob Marley, John Wick, Brian Snyder, Claudine Gay's, wasn't, Gay, Alan Garber, Harvard's, Elizabeth Magill, Magill, Sally Kornbluth, Bill Ackman, Claudine Gay Kevin Dietsch, Business Insider's Paul Squire, Lucas Jackson, Tesla, Goldman, Tyler Le, it's, Warren Buffett, Greta Thunberg, Florence Pugh, Mel Gibson, J.R.R, Tolkien, Eli Manning, Max Willcocks, Dan DeFrancesco, Diamond Naga Siu, Hallam Bullock, Jordan Parker Erb, Hayley Hudson, Lisa Ryan Organizations: Service, Ivy League, Business, Harvard, Ivy, Penn, Gay, MIT, GOP, Big Tech, Apple, Microsoft, Nvidia, Meta, Boston Consulting Group, Cushman & Wakefield, LinkedIn, SAP, Verizon Consumer Group, EV, Elon, Jiji Press, Japan Airlines, New York Locations: China, Jisoo, New York, San Diego, London, Edinburgh

☆ Cushman & Wakefield's CIO believes in embracing AI to manage buildings, serve landlords, and help tenants
▼ + stars: | 2023-12-20 | by ( Josée Rose | ) www.businessinsider.com time to read: +5 min

Cushman helps landlords fill their spaces, from office buildings to retail stores to warehouses, and aids companies in finding space to lease. If they're managing a big office building, for example, they'll work out of that building rather than a Cushman office. Cushman uses AI chatbots to supplement its other offerings for client support to solve their problems faster. AI, Companieh said, can help Cushman employees "maximize their time to best serve the client." The misuse of AI technology is obviously at the forefront of a lot of our thoughts.

Persons: Sal Companieh, —, Cushman, Companieh, we've Organizations: Service, Cushman &, Business, Cushman Locations: Wakefield, Business, America, Cushman & Wakefield, Cushman

☆ WeWork’s Bankruptcy Tests Claims of a Co-Working Revolution
▼ + stars: | 2023-11-09 | by ( Peter Eavis | More About Peter Eavis | ) www.nytimes.com time to read: +1 min

But the company never created a sustainable business or changed how most people worked. Flexible office space accounts for less than 2 percent of all office space in the 20 largest U.S. markets, according to Cushman & Wakefield, close to its share before the pandemic. WeWork filed for bankruptcy protection this week in an effort to quickly slim down its portfolio of office spaces. Many employers are paring back their office space because workers aren’t going in five days a week after growing accustomed to working remotely or on a hybrid schedule. WeWork’s bankruptcy will only make the situation worse by leaving landlords with more space to fill.

Persons: WeWork, aren’t Organizations: Cushman & Locations: Cushman & Wakefield

The back-to-back appearances Thursday from Donald Trump Jr. and Eric Trump – who both helped run the Trump Organization while their father was in the White House – comes ahead of the former president’s own testimony on Monday. Donald Trump Jr. and Eric Trump are co-defendants in the case, along with their father, the Trump Org., and several company executives. Eric Trump acknowledged he provided information to former Trump Org. But he tried to distinguish between specific statements of financial condition – his father’s personal financial statements at the heart of the civil case – and general financial records for the company. Some internal policies and methodologies “have been bolstered” since the investigation began, Trump Jr. said.

Persons: Donald Trump’s, Donald Trump Jr, Eric Trump –, –, Eric Trump, Andrew Amer’s, Jeff McConney, “, ” Eric Trump, Amer, David McArdle, wasn’t, “ That’s, McConney, Donald Trump, Trump, Faherty, Judge admonishes Trump, Chris Kise, Engoron, Kise, “ I’m, I’m, ” Kise, He’s, ”, She’s, Letitia James, It’s, Joe Biden, Hunt, ” Trump Organizations: New, New York CNN, The New York Attorney, Trump Organization, Trump Org, Cushman, Trump, Trump Jr, Deutsche Bank, Post, Trump International, White Locations: New York, Seven, Doral, Wakefield, Tower, Chicago, Florida, Washington , Florida, Georgia

NEW YORK (AP) — When Donald Trump became president in 2017, he handed day-to-day management of his real estate empire to his eldest sons, Donald Jr. and Eric. State lawyers are expected to rest their case after that, giving Trump's lawyers a chance to call their own witnesses. Political Cartoons View All 1227 ImagesDonald Trump Jr. and Eric Trump are both executive vice presidents at the Trump Organization and defendants in James' lawsuit. Eric has oversight over the company's operations while Donald Trump Jr. has been involved in running the company’s property development. Donald Trump Jr. and Eric Trump have already been heard from at the trial, albeit in snippets of prior testimony.

Persons: Donald Trump, Donald Jr, Eric, Donald Trump Jr, Eric Trump, Letitia James ’, James, Donald Trump —, —, Ivanka Trump, Allen Weisselberg, Trump, Judge Arthur Engoron, He’s, hasn’t, he’s, doesn’t, Engoron, ” Donald Trump Jr, Eric Trump’s, David McArdle, McArdle, Donald Trump’s, who's, he'd, ”, “, I’ve, Cushman, ” Donald Trump, Jennifer Peltz Organizations: Trump, Republican, Trump Organization, White, New, Trump Jr, Associated Locations: New York, New, ”, Newsmax, New York City, Wharton, Sisak, x.com

☆ The warped financial logic fueling America’s ‘doom loop’
▼ + stars: | 2023-10-31 | by ( Adam Rogers | ) www.businessinsider.com time to read: +11 min

Well, when a landlord doesn't lower the rent to get a new retail tenant, it's because that landlord can't. They're free to renegotiate or refinance the terms of mortgages, given the extraordinary downturn facing retail storefronts. And the future will be full of even higher vacancy rates, higher interest rates, and lower rents. Retail rents have flattened, she says, but the construction of retail space has not. Still, from an urban-planning standpoint, the way we finance retail space makes no sense.

Persons: You've, apocalypses, that's, It's, David Greensfelder, Greensfelder, Banks, what's, —, Larisa Ortiz, Ortiz, Justin Sullivan, Lorenzo Perez, I've, Rachel Meltzer, Kazuko Morgan, Perez, Culdesac, Something's, Meltzer, Adam Rogers Organizations: McKinsey & Company, Verizon, Republics, Harvard Locations: America, Urban, Manhattan, San Francisco, Market, vaya, What's, Phoenix, That's, LA, New York, Wakefield, Tempe , Arizona

Tuesday, Trump and Cohen are expected to be face to face in a New York courtroom as Cohen delivers testimony as part of the New York attorney general’s civil fraud case against the former president. When Cohen takes the stand, he will face down a very angry Donald Trump. Cohen is expected to testify about meetings with former Trump Organization Chief Financial Officer Allen Weisselberg and Trump regarding Trump’s financial statements and net worth. Cohen has claimed there were meetings with Weisselberg and Trump about Trump’s net worth before the financial statements were filed. Eric Trump said in a deposition for the case that he didn’t remember being involved in any appraisals for Trump properties.

Persons: CNN — Michael Cohen, Donald Trump’s, Cohen, Trump’s, ”, Trump, Donald Trump, ” Cohen, Letitia James, Michael Cohen, Eric Trump, CNN Trump, Judge Arthur Engoron –, –, Engoron, Allen Weisselberg, Weisselberg, “, Colleen Faherty, Attorney Alvin Bragg, Karen McDougal, Stormy Daniels, Bill Kelly, Mazars, Jeff McConney, Cushman & Wakefield, Ivanka Trump Organizations: CNN, Trump, New, New York, Trump Organization, Weisselberg, Trump ., Manhattan, Attorney, Playboy, Cushman &, Seven, Trump National Golf Locations: New York, Briarcliff Manor , New York

Political Cartoons View All 1211 ImagesMcArdle said he was asked to figure out what the property would be worth if the Trump Organization built 71 high-end townhomes there, and he got substantial input from Eric Trump. McArdle said Thursday that Eric Trump may have had a “more lofty value" in mind, but a higher number wouldn't have been credible. Trump's financial statements went on to list the golf course at values sometimes topping $100 million, according to James' lawsuit. Both Eric and Donald Trump have attended some parts of the trial but weren't there Thursday. Earlier in the trial, retired Deutsche Bank official Nicholas Haigh testified that Trump’s financial statements were key to approvals for hundreds of millions of dollars in loans in 2011 and 2012.

Persons: Donald Trump's, Eric, Letitia James, Trump, Eric Trump, David McArdle, McArdle, “ Eric, ” McArdle, wasn't, ”, didn't, James, Donald Trump, Jack Weisselberg, Allen Weisselberg, Trump's, Weisselberg, Nicholas Haigh, Haigh, Judge Arthur Engoron, Michael R Organizations: New York, Republican, Trump Organization, Trump National Golf, Trump, Deutsche Bank, Associated Press Locations: New York, New, Westchester County, Briarcliff Manor , New York, Wakefield, Sisak

☆ Trump fraud-trial fireworks: 'You lied yesterday!' defense lawyer shouts while grilling an AG witness
▼ + stars: | 2023-10-18 | by ( Laura Italiano | ) www.businessinsider.com time to read: +7 min

A Trump attorney shouted, "You lied yesterday," while cross-examining a key state's witness. a lawyer for Trump's side shouted at the witness, prompting five minutes of sometimes shouted cross-accusations of perjury, witness intimidation, and showboating for the press. "Let's calm down," the judge told both sides after asking that the witness — Doug Larson, a former outside Trump Organization appraiser — be escorted out. A lawyer for Attorney General Letitia James of New York objected, without naming Trump, to the "exhortations" coming from the defense table. Soon enough — this time with the testimony highlighted on an overhead screen — the emails-waving Trump lawyer was back shouting, "You lied yesterday, Mr.

Persons: Trump's, Trump, —, Donald Trump's, Doug Larson, hadn't, who's, audibly, Letitia James of, Arthur Engoron, Lazaro Fields, Larson, Fields, Jeffrey McConney, McConney, Christopher Kise, Kise, Colleen K, Faherty, Kevin Wallace, Wallace, they're, I'm, perjured, Let's Organizations: Service, Trump Organization, Trump, New, Wakefield, St Locations: York, Trump, Manhattan

[1/3] Tokyo Tower is seen from the 52nd floor of 'Azabudai Hills Mori JP Tower', developed by Mori Building Co., during press preview of the complex in Tokyo, Japan, in this photo taken by Kyodo on August 8, 2023. "Housing prices and rents have risen a lot compared to the past, but in the end, salaries haven't gone up that much." After weathering decades of deflation and stagnant growth, Japan is seeing an investment boom that has made apartments in central Tokyo unaffordable for young Japanese professionals. For locals, the surge in prices has made Tokyo the second most unaffordable city worldwide, only behind Hong Kong, according to a UBS global real estate report. Average condo prices in central Tokyo were bumped up in the past year by a large supply of high-end residences hitting the market.

Persons: Kawamata, she'd, I'm, haven't, Cushman, Mari Kumagai, Kumagai, Wang Mao San, Wang, Mari Mochizuki, who's, Mariko Katsumura, Rocky Swift, Sonali Paul Organizations: Mori, Kyodo, REUTERS Acquire, Rights, Real Estate Economic, UBS, Reuters, Cushman & Wakefield, Wakefield, Shingi, fusaya Realty Inc, Super, Japan Real Estate Institute, Thomson Locations: Tokyo, Japan, Hong Kong, London, Singapore, New York, China, Asia, Asia Pacific, Australia, Taiwan, Taiwanese, Osaka, Tokyo's

☆ Amazon built a data center empire in northern Virginia. Exclusive filings reveal it's using as much energy as a major city.
▼ + stars: | 2023-08-16 | by ( Daniel Geiger | Ellen Thomas | ) www.businessinsider.com time to read: +16 min

Amazon does not disclose how many data centers it occupies, where they are located, or how much electricity they consume. Many of Amazon's data centers listed in the permits have been built recently and some may still be under construction. "You cannot run a data center based on the variability of solar and wind," Boston said. Any producer of renewable energy can sell one REC for every megawatt hour of renewable energy it generates. Brady, the Cushman & Wakefield data center executive, said that data centers often match their backup generation to the capacity of a data center's power supply.

Persons: Shaolei Ren, David Ward, Abraham Silverman, Sean Brady, Glenn Youngkin, Steve Helber, Terry Boston, –, Ben Hertz, Wood Mackenzie, Andy Jassy Mike Blake, Amazon's, Priya Barua, We've, Barua, Blackstone, Weston Swenson, Brady, Swenson, Josh Levi Organizations: Amazon, Washington DC, Amazon Web Services, UC Riverside, Columbia University's Center, Global Energy, Cushman & Wakefield, Dominion Energy, France's, AP, Greenhouse Gas Initiative, Republican, State Corporation Commission, Boston, state's Department, Environmental, Reuters, Microsoft, Google, Apple, Clean Energy Buyers Association, Virginia's Department, Industry, Cushman &, Dominion, Data Center Coalition Locations: Virginia, New York City, Washington, Seattle, France, Ward, Northern Virginia, West Coast, Cushman & Wakefield, CBRE

☆ On tap this week: Jobs report plus 10 key earnings. Here's what we want to see
▼ + stars: | 2023-07-29 | by ( Zev Fima | ) www.cnbc.com time to read: +18 min

All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

Persons: We'll, that's, Stanley Black, Decker, Emerson, Bausch, Leggett, Platt, SIRI, Ares, COLM, PERI, Kraft Heinz, Phillips, Ferrari N.V, Johnson, Robinson, COOK, BUD, Kellogg, Papa, Pitney Bowes, Parker, Trimble, Ziff Davis, Nonfarm, Jim Cramer's, Jim Cramer, Jim, Apple Tim Cook, Kevin Dietsch Organizations: Nasdaq, Dow, Federal Reserve, Federal, ISM Manufacturing, Services PMI, Investors, Caterpillar, Devices, Starbucks, Natural Resources, AMD, Management, Emerson Electric and, Humana, Bausch Health, Apple, Microsoft, Resource Partners, AerCap Holdings, CNA Financial Corp, CNA, Apellis Pharmaceuticals, Bank, SJW, Hutchison China MediTech, Camtek Ltd, Silvercrest Asset Management, Loews Corp, Oxford Lane Capital Corp, Banco Santander, Silicom Ltd, SuperCom Ltd, Arista Networks, Avis Budget Group, Diamondback Energy, Lattice Semiconductor Corp, Republic Services, Yum China Holdings, Western Digital Corp, Power Systems, Tenet Healthcare Corp, Vornado Realty, BioMarin Pharmaceutical, PetMed, SBA Communications Corporation, Brixmor, Snack Foods Corp, Cushman & Wakefield, Sanmina Corporation, TFI, PMI, Cruise Line Holdings Ltd, Uber Technologies, Pfizer, Enterprise Products Partners, Merck, JetBlue Airways Corporation, Allegro MicroSystems, Altria, SunPower Corp, SiriusXM Holdings, Molson Coors Beverage, Marriott International, Toyota Motor Corp, BP, SYSCO Corp, Marathon Petroleum Corp, Ares Management, Equitrans Midstream Corporation, Game Technology, Illinois Tool, IDEXX Laboratories, Rockwell Automation, Packaging International Corp, Gartner, Zebra Technologies Corp, IQVIA Holdings, Oshkosh Corporation, Leidos Holdings, Eaton Corp, yte Corp, Lear Corp, Starbucks Corp, Devon Energy Corp, SolarEdge Technologies, Lumen Technologies, Virgin Galactic Holdings, Caesars Entertainment, VF Corp, Sciences Corp, Paycom, Vertex Pharmaceuticals, Suncor Energy, Holdings, Chesapeake Energy Corp, Boston Properties, American International Group, AIG, Allstate Corp, Aspen Technology, Electronic Arts, EA, Flowserve Corporation, Denny's, Corp, Prudential Financial, Store, Ternium S.A, Vimeo, Emerson, Lomb, CVS Health, Generac Holdings, Cameco Corp, Perion Network Ltd, Builders, Carlyle Group, Scorpio, Teva Pharmaceutical Industries, Ltd, Rithm Capital Corp, AeroSystems Holdings, Vertiv Holdings Co, Johnson Controls, CDW Corp, DuPont, Brands Holdings, Scotts Miracle, Gro, SMG, Brands, Allegheny Technologies, AmerisourceBergen Corporation, ABC, Real Estate Corporation, Adient plc, Editas, Garmin Ltd, WWE, Bunge Ltd, Criteo S.A, PayPal, QUALCOMM, Occidental Petroleum Corp, Apache Corp, Albemarle Corp, MGM Resorts International, MGM, Marathon Oil Corp, Joby Aviation, Industrial, CF Industries Holdings, Goodyear Tire &, Realty ome Corp, Metlife, Pacific Biosciences of, Rush Street Interactive, Zillow, JFrog Ltd, Herbalife Nutrition Ltd, Simon Property Group, McKesson Corp, Storage, Cerus Corporation, GXO Logistics, MAX Holdings, Health, Anheuser, Busch InBev, Warner Bros ., Cheniere Energy, ConocoPhillips, Hasbro, CIGNA Corp, Lantheus Holdings, Regeneron Pharmaceuticals, Fiverr International, Air Products & Chemicals, TopBuild Corp, EPAM Systems, Lightspeed Commerce, Aurinia Pharmaceuticals, Cummins, CMI, Slair Corporation, Starwood Property Trust, Vulcan, Alnylam Pharmaceuticals, New Energy Corp, Cedar Fair Entertainment, Intellia Therapeutics, Lending, Privia Health, Dickinson, Chimera Investment, CIM, Hyatt Hotels Corp, Lion Electric, LEV, Deluxe Corp, Murphy Oil Corp, PBF Energy, Papa John's, Targa Resources Corp, Wix.com Ltd, Apollo Global Management, LLC, Butterfly, Sempra Energy, Aptiv PLC, Brookfield Infrastructure Partners, Canada Goose Holdings, Hannifin Corporation, WESCO International, WCC, Arrow Electronics, Constellation Energy Group, Midstream Partners, Coinbase, Petroleo Brasileiro SA Petrobras, Gilead Sciences, Opendoor Technologies, Booking Holdings, Atlassian Corporation, International, Redfin Corporation, Motorola Solutions, Monster Beverage Corporation, Consolidated Edison, Rocket Companies, Apple Hospitality, Cirrus, Resources, Universal Display Corporation, Chesapeake Utilities Corp, Social, Defense, Security Solutions, Post Holdings, Tandem Diabetes Care, Nikola Corporation, Magna International, Dominion Energy, ACM Research, Frontier Communications, Brookfield Renewable Partners, inTEST Corporation, American Pipeline, TELUS International, XPO Logistics, Fluor Corp, Gray Television, Cboe, LyondellBasell Industries, Twist Bioscience, Global, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley, Getty Locations: U.S, China, India, Oxford, Chile, Illinois, Columbia, Pacific, Pacific Biosciences of California, Southern, PBI, Gilead, Sun Valley , Idaho

☆ America's largest office tenant is embracing remote work, creating more pain for a market already in distress
▼ + stars: | 2023-07-03 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +7 min

The federal government is embracing remote work and cutting back its office footprint nationally. President Joe Biden and Donald Trump might not appear to agree on much, but when it comes to cutting back on office space, they're aligned. Now federal tenants are in for a new phase of belt-tightening as more accept remote and hybrid work, real estate experts say. "The majority of federal offices are still largely vacant on most days," said Darian LeBlanc, the director of government services at Cushman & Wakefield. So far, only the Department of Veterans Affairs has publicly said how it plans to use remote and hybrid work.

Persons: Joe Biden, Donald Trump, Barack Obama, Biden —, Darian LeBlanc, LeBlanc, Rachel Davis, Davis, — Davis, Bob Hunt, Martin Selig, Jesse Lawder, Selig, Shalanda Young, Denis McDonough, Cushman, JBG Smith, Christi, who's Organizations: —, Trump, Cushman &, Washington DC, General Services Administration, Department of Labor, Management, FBI, Securities and Exchange Commission, Environmental Protection Agency, Minerals Management Service, Department of Veterans Affairs, National Transportation Safety, L'Enfant Plaza, state's Department of General Services, National Association of State Locations: Cushman & Wakefield, United States, JLL, Seattle, Washington, L'Enfant, . Tennessee, Nashville, Knoxville, Memphis, Chattanooga, Branscom, California , Illinois, North Carolina, Florida

☆ Westfield Gives Up San Francisco Mall, Signaling More Pain Ahead
▼ + stars: | 2023-06-14 | by ( Jordyn Holman | Thomas Fuller | ) www.nytimes.com time to read: +2 min

In San Francisco, Nordstrom said it would close its longtime store at San Francisco Centre in August, which will leave the mall 45 percent empty. Westfield isn’t the first mall owner to decide to leave a longtime downtown shopping center. Last year, Brookfield Property Partners relinquished Chicago’s Water Tower Place, the mall that anchors the Magnificent Mile, an upscale commercial district. More than half of the space in Water Tower Place is vacant, including an anchor store location that was a Macy until 2021, according to Cushman & Wakefield. Indeed, Westfield’s decision in San Francisco is part of a broader strategy by its parent company, Unibail-Rodamco-Westfield, to greatly reduce the number of malls it operates in the country.

Persons: Yasukochi, ” Banks, ” Mr, Nordstrom, Neiman Marcus, REI, Macerich Organizations: San Francisco Centre, Hudson, Nike, Brookfield Property Partners, Macy, Cushman & Locations: San Francisco, New York, Manhattan —, Seattle, Portland, downtowns, Westfield, Cushman & Wakefield, United States

☆ The real reasons stores are closing in big cities
▼ + stars: | 2023-05-12 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

These big chains and others have closed stores in major US cities recently, raising alarm about the future of retail in some of the country’s most prominent downtowns and business districts. How policymakers remake their downtowns — with retail as a crucial attraction — will be crucial to cities’ fiscal health and regional economies. People who are being employed in those stores are losing their jobs” because of crime, New York City Mayor Eric Adams, a Democrat, said in February. San Francisco lost around 6% of its retail establishments from 2019 to 2021, according to the think tank’s research. For example, chain-store closures in New York City have correlated to the products most frequently bought online.

☆ No office tower is safe from the roiling market — not even a trophy building housing Google and Visa deemed one of the best
▼ + stars: | 2023-05-10 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +9 min

Potential problems at One Market Plaza show how far San Francisco's office market may fall. One Market Plaza has long been considered the pinnacle of San Francisco's office market. Autodesk plans to downsize by about 73,000 square feet to 211,000 square feet, a spokeswoman told Insider. Google did not respond to a request for comment on its plans for One Market Plaza. One Market Plaza could indicate how far San Francisco's office woes reachTurbulence at One Market Plaza indicates the extent of the problems facing San Francisco's office market.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ Bed Bath & Beyond store closures will kick off a land grab for fast-growing retailers
▼ + stars: | 2023-04-28 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

In strip malls across the country, Bed Bath & Beyond stores have "Closing Soon" signs. Its shuttered stores will kick off a land grab for retailers hungry for additional space. Bed Bath will join a list of other bankrupt companies, such as Kmart and Sears, that vacated spaces and made way for stores. Former Bed Bath stores could turn into a variety of other retail spaces, said Deborah Weinswig, CEO of Coresight Research, a retail advisory group. Weaker retailers' locations thinned out during the fallout of the Great Recession and again during the Covid pandemic, said James Bohnaker, senior economist with Cushman & Wakefield.

☆ Big apartment landlords lean in to AI and proptechs as profit squeezes loom
▼ + stars: | 2023-04-28 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +7 min

Apartment landlords are getting squeezed by rising interest rates and insurance costs . interest rates and insurance . But some big US landlords were already waist-deep in labor-saving technologies of their own to ward off profit squeezes, like the ones many are facing today. On the supply side, the race has been on for some time to sell landlords on tech that works. In this case, landlords are adapting to today's higher interest rates from a time when borrowing costs were low and taking any pressure off operations, he said.

"Weakness continues to develop in commercial real estate office," Wells Fargo Chief Executive Charlie Scharf said on a call with analysts. Stress in the commercial real estate sector could have broad implications for banks and the economy, as losses emanating there can tighten credit availability and exacerbate a downturn. More than $1.4 trillion in U.S. CRE loans will mature by 2027, with some $270 billion coming due this year, according to real estate data provider Trepp. As the epicenter for the technology industry downturn, California's CRE market has been hit hard. Citigroup and Wells Fargo declined to comment for this article.

☆ The fallout from empty offices is coming. Here's where investors could see the pain
▼ + stars: | 2023-04-14 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +12 min

As concerns about regional banks roiled markets, investors weighed another threat: commercial real estate. Also, layered on top of the property value pressure, are the tightening credit conditions brought on by the recent turmoil in the banking sector. There is no doubt this scenario is a toxic mix for the capital-intensive real estate industry. At the moment, many experts say the real estate market isn't causing trouble for banks, but fears about the financial system are likely worsening conditions in real estate because liquidity is being reduced. The biggest concern is seeing how many other companies join Brookfield , Blackstone and Pimco in handing back the keys on office properties, Clancy said.

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