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But while the last crisis was all about interest rate risk, this one revolves around the $20 trillion commercial real estate market. What’s happening: After decades of growth bolstered by low interest rates and easy credit, commercial real estate has hit a wall. The increase was driven partly by expected losses on commercial real estate loans, it said. “As losses from a [commercial real estate] loan portfolio accumulate, they can spill over into the broader financial system,” they wrote. “There’s some smaller and regional banks that have concentrated exposures in these areas that are challenged and we’re working with them,” he said.
Persons: It’s, Goldman Sachs, Anna Cooban, Janet Yellen, Jerome Powell, Gary Gensler, , Chip Somodevilla, She’s, Powell, , ” McDonald’s, McDonald’s, Jordan Valinsky, Samantha Murphy Kelly, “ We’ve Organizations: CNN Business, Bell, New York CNN, New York Community Bancorp, US Regional Bank, Japan’s Aozora Bank, Deutsche Bank, Canadian Public Pension Investment Board, Boston Properties, US Securities and Exchange, Financial, Biden, Senate, CBS, Verizon, Old Telephone Service, landlines, UK, Consumers, CNN, California Public Utilities Commission Locations: New York, Manhattan, Boston, Washington ,, East, United States, California, France, California ”
New York City recently conducted its annual survey of the unsheltered homeless. Mayor Eric Adams, flanked by officials from the Departments of Social Services and Homeless Services, kicked off the city's annual Homeless Outreach Population Estimate. The city was about to send 1,500 volunteers to all five boroughs to collect data on the unsheltered homeless. New York City has been keeping count this way since 2005. How New York counts its homeless populationMayor Eric Adams, flanked by city officials and volunteers at the city's 2024 Homeless Outreach Population Estimate.
Persons: , Eric Adams, Adams, Katie Balevic, wouldn't, we've, Wasow, we're Organizations: Business, Service, of Social Services, Homeless Services, womens Locations: York City, New York, Manhattan, New York City, Gramercy, Kips, Queens, Bronx
The couple, Jean and Renée Casse, were on 52nd Street when Mr. Casse was robbed, assaulted and thrown to the ground. For nearly the next four decades, Mr. Smokes, who was 19 when he was arrested, and Mr. Warren, who was 16, would try to clear their names without success. On Wednesday, under a new district attorney, the two men’s convictions were overturned and their indictments were dismissed. “Eric Smokes and David Warren lost decades of their life to an unjust conviction,” said Alvin L. Bragg, the Manhattan district attorney, in a statement. “I am inspired by the unyielding advocacy of Mr. Smokes and Mr. Warren and hope that today’s decision can finally bring them a measure of comfort and justice.”
Persons: Jean, Renée Casse, Casse, Eric, David Warren —, Warren, David Warren, , Alvin L, Bragg, Locations: New York, Midtown Manhattan’s, Manhattan
Almost exactly 250 years after the Sons of Liberty dumped chests of tea into Boston Harbour, a professor from Bryn Mawr College has committed a crime against the British cuppa very nearly as grave. What purports to be a nice cuppa accompanied not by good honest cow’s milk but some kind of yellow citrus thing. Or, god forbid, arrives not in a good honest tea bag, but taking the false form of — shudder — tea leaves. You’re offered a cuppa char if you’ve given birth, witnessed a murder, come home from a crappy day at work. Whether in the seas of Boston Harbour or some mad prof’s lab in rural Pennsylvania, tea and salt do not mix and that, my Yank friends, is that.
Persons: Rosa Prince, Michelle Francl, Rosa Prince Rosa Prince, , we’ve, Rosie Lee, limey, You’re, you’ll, Organizations: POLITICO, CNN, Bryn Mawr College, Embassy, Brit, Tetley, Boston Harbour Locations: London, Boston, Iceland, It’s, LA, Midtown Manhattan, Bucket Indiana, New York City, British, Ribena, Sri Lanka, Pennsylvania
NEW YORK (AP) — Journalists at The New York Daily News and Forbes walked off the job Thursday amid contentious contract talks with management and a difficult few weeks in the news industry. The one-day strike at the Daily News coincides with Forbes walkout, which runs through Monday. The labor union's actions come at a tumultuous time for media outlets, an increasing number of which are owned by billionaires. This week, Time magazine and Condé Nast, the publisher of Vogue, Vanity Fair, GQ and other marquee magazines, both announced significant job cuts. Forbes spokesperson Laura Brusca said the company is “working diligently” to reach a contract with the union.
Persons: “ Alden, Condé Nast, Jeff Bezos, Alden Global, Michael Gartland, they’re, , Andrea Murphy, , didn’t, Laura Brusca, ” Murphy Organizations: — Journalists, The New York Daily News, Forbes, Daily, Daily News, Strikers, York, Vogue, GQ, Condé Nast, Los Angeles Times, The Washington Post, Amazon, Sports, Alden Global Capital, Alden, The Daily News Locations: New York, Manhattan
The jury said Carroll hadn't proven that Trump raped her. One issue that wasn’t decided in that first trial was how much Trump owed for comments he made about Carroll while he was still president. He did not attend last year's trial, saying recently that his lawyer advised against it. Trump, with actual malice, lied about sexually assaulting Ms. Carroll.”Those restrictions don’t apply outside of the presence of the jury. Carroll, 80, plans to testify about the damage to her career and reputation that resulted from Trump's public statements.
Persons: Donald Trump, Jean Carroll, Carroll, Trump, Carroll hadn't, wasn’t, Lewis A, Kaplan, Goodman, , Organizations: Trump Locations: Iowa, Manhattan
After 13 years of dead ends and blown leads, the Gilgo Beach murder investigation finally turned on pizza crusts that Rex Heuermann had tossed in a trash can in Midtown Manhattan. It was a jackpot for investigators who had watched Mr. Heuermann for months. “Pizza crust is like a sponge — it allowed the saliva to seep into the dough,” Ray Tierney, the Suffolk County district attorney, said in a recent interview. The sample gave investigators the genetic match that helped connect Mr. Heuermann to four bodies found in 2010 on Long Island, and his arrest followed in July, Mr. Tierney said. Investigators say the DNA profile obtained from a male hair found on the burlap used to wrap one of the four victims found in 2010, Megan Waterman, corresponds to the pizza slice sample from Mr. Heuermann.
Persons: Rex Heuermann, Heuermann, ” Ray Tierney, Tierney, Heuermann’s, Megan Waterman Organizations: Mr Locations: Midtown Manhattan, Suffolk County, Long
CNN has reached out to Heuermann’s attorney, the Suffolk County District Attorney’s Office and the Suffolk County Police Department for comment. Here is a timeline of the Gilgo Beach killings, how the investigation unfolded and what ultimately led to Heuermann’s arrest. Two days later, investigators discovered the remains of three additional victims – Maureen Brainard-Barnes, Amber Costello and Megan Waterman – strewn across a half-mile stretch on Gilgo Beach. Authorities later said they believed Gilbert’s death may have been accidental and not related to the Gilgo Beach slayings. The task force included the Suffolk County Police Department, the Suffolk County Sheriff’s Office, the New York State Police and the FBI.
Persons: Long, Rex Heuermann, ” Heuermann, Melissa Barthelemy, Megan Waterman, Amber Costello, Maureen Brainard, Barnes, Heuermann, Amber Lynn Costello, Shannan Gilbert, hadn’t, , Barthelemy, , Jane Doe, Jessica Taylor, Spencer Platt, Steve Cohen, Barthelemy’s, Cohen, James Carbone, WH ”, Geraldine Hart, “ Jane Doe, Valerie Mack, Hart, Rodney Harrison, Ray Tierney, surveilling, “ Brainard, Tierney, Harrison, Eduardo Munoz Alvarez Organizations: CNN, Authorities, Attorney, CNN Sunday, Attorney’s Office, Suffolk County Police Department, Police Department, Police, Craigslist, Garden, Getty, New York’s Suffolk County Police Department, FBI, Suffolk County Police, Sheriff’s Office, New York State Police, New, Suffolk County Crime Laboratory, RH, & Associates Locations: Shore, York, Suffolk County, Suffolk, Megan Waterman Suffolk, Gilgo Beach, Gilgo, Jersey City , New Jersey, Manhattan, Madison, Manorville, Long, Wantagh , New York, Nassau County, New York City, Fire, Beach, Oak Beach , New York, , New York’s Suffolk County, Philadelphia, New York, Heuermann, Yaphank
The small Swiss Alpine town is again playing host to the World Economic Forum (WEF), where the world's top brass in finance and politics convene each year to try to solve the biggest problems that plague our planet. But the long and winding road to Davos offers another lesser-known benefit, which makes the lengthier commute well worth the while. Here's what was overheard on the connecting trains from Zurich Airport to Davos Platz. OpenAI's media representative declined CNBC's request to interview Altman in Davos, citing a "tight" schedule. One Davos attendee noted their company was in the IP space and had just raised this summer, because "the rights issue is so complicated."
Persons: MacKenzie, OpenAI, Sam Altman, Davos MacKenzie Sigalos, Altman, Marc Benioff, Albert Bourla, reminisced, Sting Organizations: Volvo, Economic, Zurich Airport, Davos Platz, Swiss National Railway, Microsoft, Pfizer, The New York Times, Switzerland Cantonal Police, Disney, Landquart Locations: DAVOS, Switzerland, Manhattan, Scalettastrasse, Davos, Swiss, Zürich, Zurich, Zürich Hauptbahnhof, Saudi Arabia, Grisons, Brazil
NEW YORK (AP) — Former President Donald Trump can wait a week to testify at a New York defamation trial where he could face millions of dollars in damages after a jury concluded that he sexually abused a columnist in the 1990s, a federal judge said Sunday. The judge also noted that he has learned that Trump, even while seeking to postpone the trial, had scheduled an evening campaign appearance on Wednesday in Portsmouth, New Hampshire. He said Trump's lawyers notified the judge on Friday that Trump planned to attend the trial. This month's trial, long delayed by appeals, stems from defamatory comments the judge said Trump made about Carroll in 2019 and last May, a day after the jury announced its verdict. Habba said Trump also can testify about the circumstances of his comments and how they related to comments in Carroll’s "continuous parade of interviews and publicity."
Persons: Donald Trump, Judge Lewis A, Kaplan, Trump, Jan, E, Jean Carroll, Carroll, Carroll's, Alina Habba, , Habba, Roberta Kaplan, ” Kaplan, , — Ms Organizations: Republican, Carroll, Trump Locations: York, Portsmouth , New Hampshire, Manhattan, New York
HOMESTEAD, Fla. (AP) — In New York, migrants at a city-run shelter grumble that relatives who settled before them refuse to offer a bed. In South Florida, some immigrants complain that people who came later get work permits that are out of reach for them. Across the country, mayors, governors and others have been forceful advocates for newly arrived migrants seeking shelter and work permits. The administration said in September that it would work to reduce wait times for work permits to 30 days for those using the new pathways. The Washington rally reflected an effort by advocates to push for work permits for all, regardless of when they came.
Persons: Joe Biden, , “ Chuy ” Garcia, José Guerrero, ” Guerrero, , Angel Hernandez, Hernandez, Adriana Trino, “ We're, Diego Torres, Santiago Marquez, hasn't, , They’ve, ” Lawrence Benito, ___ Tareen, J, Elliot Spagat, Erik Verduzco Organizations: U.S, Rep, Chicago Democrat, . Citizenship, Immigration Services, Biden, Latin American Coalition, American Association, Washington, Illinois Coalition, Immigrant, Refugee Rights, Chicago, Associated Press, Rico Locations: Fla, New York, Chicago, South Florida, Washington, Mexico, Cuba, Haiti, Nicaragua, Venezuela, Homestead , Florida, Miami, Denver, Los Angeles, Houston, U.S, Venezuelan, Panama’s, Darien, Colombia, United States, Midtown Manhattan, Charlotte , North Carolina, In Atlanta, Homestead, Atlanta
Even with New York’s complicated history as a port for new arrivals, the photographs this summer of more than a hundred migrants sleeping shoulder to shoulder on the sidewalk outside the once-elegant Roosevelt Hotel in Midtown Manhattan were shocking. So were scenes of young migrants idling on sidewalks, stoops and park benches, desperate to work but legally prohibited from doing so. For those of us who were once part of such a moment, the scenes stirred up memories and reflections on how different some things were now for new arrivals and how much they were the same. I, too, was once part of a migrant influx. In the years after the end of World War II, New York City absorbed a similar wave of immigrants — a large majority of the 140,000 Jewish Holocaust survivors who came to America between 1946 and 1953 — and it did so comparatively smoothly and uneventfully.
Organizations: Roosevelt, Astor Library, Public Locations: Midtown Manhattan, New York City, America, Lafayette
The former Wonder Bread Factory in Hoboken, New Jersey was transformed into a luxury residential building. Now in its place stands The Wonder Lofts, a luxury residential building with 83 loft-style condominiums. The Wonder Lofts building was a bakery for more than 50 years in the 1900s. Wonder LoftsThe Wonder Lofts includes two- to five-bedroom apartments with about 1,200 square feet to 2,700 square feet of living space. Wonder Lofts
Persons: Angelo Gordon, Robert Fourniadis, Fourniadis, it's, Daniel P, Winschuh, You've Organizations: Prism Capital Partners, Parkwood, CNBC Locations: Hoboken , New Jersey, New Jersey, New York City, Palisades, Manhattan, cabanas, Hoboken
The other plaintiff, Kelsey Harbert, accused Gooding of groping her breast in June 2019 at the Magic Hour rooftop bar, also in midtown. Lawyers who have represented Gooding in civil and criminal litigation over his alleged sexual misconduct did not immediately respond to requests for comment. He pleaded guilty in April 2022 to a misdemeanor charge of forcibly touching Abbay, who was not identified by name at the time but revealed her identity in her lawsuit. The charge was downgraded six months later to harassment, to which Gooding pleaded guilty after complying with a plea agreement that required alcohol and behavior modification treatment and no further arrests. Accusations by Abbay, Harbert and a third woman were the basis for a six-count indictment against Gooding, which his guilty plea resolved.
Persons: Cuba Gooding, Mike Segar, Cuba Gooding Jr, Oscar, underlay, Jasmine Abbay, Jerry Maguire, Kelsey Harbert, Gooding, Gloria Allred, Russell Brand, Bill Cosby, Harvey Weinstein, Donald Trump, Sean, Diddy, Combs, Axl Rose, Sheila Kennedy, Jonathan Stempel, Dawn Chmielewski, Daniel Wallis Organizations: Criminal, REUTERS, Cuba, Lawyers, U.S, Thomson Locations: New, New York, Manhattan, New York City , New York, U.S, Los Angeles
Two years of post-shutdown theater has brought to New York stages a slew of solo performers wrestling with subjects like grief, death and the apocalypse — and those are just the comedies. Solo shows are inexpensive to produce and relatively low-lift endeavors for an industry still on shaky ground. There has been no shortage this fall, and now four solo shows running Off Broadway demonstrate a range of approaches to the form, proving, at least for this round, that baring your inner thoughts and fears pays off. “School Pictures” and “Amusements,” also at Playwrights Horizons, take the opposite tack, with performers who hold themselves at a distance to direct attention elsewhere, but with devices that can be distracting and evasive. Now she is nursing HPV and moving into a convent boardinghouse named for St. Agnes, the patron saint of virgins and sexual abuse survivors.
Persons: baring, , , Waterwell, Lameece Issaq, Agnes, Peiyi Wong Organizations: Connelly, , Playwrights, Playwrights Horizons, Yorker, St Locations: New York, East, Harpy, Midtown Manhattan
John Roca cruised through Midtown Manhattan on a recent night just as the streetlights flicked on, his camera in the back seat of his sedan. It had been a slow day for Mr. Roca, a photojournalist who has chased breaking news in New York City for a half-century. “This one might have legs,” Mr. Roca said, and he punched the car’s accelerator. But a new $500 million radio system the New York Police Department introduced this past summer encrypts officers’ communications, meaning the public, including members of the press, will no longer be able to listen in. The project will take at least five years to complete, though some frequencies have already gone dark.
Persons: John Roca, Roca, Mr Organizations: New York Police Department Locations: Midtown Manhattan, New York City
Even in the Golden Age of musical theater, shows so commonly died after intermission that critics came up with a name for the disease. “Second act trouble” presented in many ways: unmoored songs, desperate cutting, illogical crises, hasty workarounds. Yet all those second act symptoms arose from the same underlying condition: first act ambitions. So it’s not really surprising that an enormously ambitious new musical like “Hell’s Kitchen,” the semi-autobiographical jukebox built on the life and catalog of Alicia Keys, disappoints after the mid-show break, tumbling directly into the potholes it spent its first half so smartly avoiding. And since those songs are the show’s selling point, they wind up wagging the story.
Persons: , it’s, Alicia Keys, disappoints, Kristoffer Diaz, Michael Greif, Ali Organizations: Public, verve Locations: Jersey, Midtown Manhattan
Gap's closet cleanup begins to pay off
  + stars: | 2023-11-17 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Brendan McDermid Acquire Licensing RightsTORONTO, Nov 17 (Reuters Breakingviews) - Gap’s (GPS.N) new CEO is embarking on a closet cleanup. Shares in the U.S. apparel company leapt over 30% on Friday morning, a day after it unveiled third-quarter results. That reaction looks overdone, considering how overall net sales of $3.8 billion are still down 7% compared to last year, and earnings fell year-on-year. Same-store sales at sub-brand Old Navy for the quarter were up 1% year-on-year, the first quarterly increase in over two years. The company might even use that tailwind to revive its scrapped plans to separate Old Navy into a stand-alone company.
Persons: Brendan McDermid, That’s, Richard Dickson, Barbie, Sharon Lam, John Foley, Aditya Sriwatsav Organizations: REUTERS, Rights TORONTO, Reuters, Navy, Mattel, Banana Republic, X, Walmart, Thomson Locations: midtown Manhattan, New York, U.S, China
Thousands of people took to the streets on Friday evening in the latest instance of what has become near daily protests in New York City over the Israel-Hamas war. This time, pro-Palestinian demonstrators held banners and signs demanding a cease-fire in the bombardment of Gaza. Earlier in the afternoon, several rallies attracting hundreds of people formed at different points around the city, including Union Square, the J.P. Morgan offices on Madison Avenue and Gov. Kathy Hochul’s New York office near the United Nations headquarters, before merging on the steps of the New York Public Library near Bryant Park. As demonstrators wound their way through the center of the city, they waved Palestinian flags, held handmade signs with messages like “Ceasefire now,” and chanted, “Free Palestine.” The crowd stretched several blocks and paused at times in front of Pennsylvania Station and the New York Times building.
Persons: Morgan, Kathy Hochul’s, Debbie Bitar Organizations: Madison, United Nations, New York Public, Pennsylvania, New York Times Locations: New York City, Israel, Gaza, York, Bryant Park, Midtown Manhattan, Palestine, United States
Pro-Palestine media workers protested Western news outlets' coverage of the conflict in Gaza. The protestors gathered at a press freedom gala in Manhattan Thursday night. ET, chanting and handing out a mock newspaper printed in the style of the Times and titled "The New York War Crimes." Noah Hurowitz/Business Insider"I wish you knew what you were talking about," muttered Michael Golden, a businessman who served until 2016 as vice-chairman of the New York Times Company. "I know how the New York Times works, and they don't," he said, as a woman accompanying him urged him to stop talking.
Persons: , Meredith Kopit Levien, Harron Walker, Walker, Noah Hurowitz, Michael Golden Organizations: Palestine, Service, New York Times, Times, Protect Journalists, West Bank —, New York Times Company, Gaza Ministry of Health, Hamas Locations: Gaza, Manhattan, Midtown Manhattan, Israel, Palestine, York
The sign for a Gap store is seen on 5th avenue in midtown Manhattan in New York June 16, 2015. The company expects fourth-quarter net sales to be flat to slightly negative, compared with analysts' expectations for a 0.33% rise, according to LSEG data. Banana Republic and Athleta's sales fell 11% and 18% in the third quarter, while Old Navy, Gap's biggest brand, recorded a 1% decline. Its net sales of $3.78 billion - mainly aided by its Old Navy brand - beat Wall Street expectations of $3.60 billion. Gap reiterated that fiscal 2023 net sales would decline in the mid-single-digit range.
Persons: Brendan McDermid, Richard Dickson, Deborah Weinswig, Weinswig, Zachary Warring, Katrina O’Connell, Ananya Mariam Rajesh, Kate Masters, Devika Syamnath, Matthew Lewis Organizations: REUTERS, Old Navy, Walmart, Banana, Gap's, Republic, Navy, Banana Republic, Thomson Locations: Manhattan, New York, Bengaluru
A video that shows pro-Israel messaging replacing a pro-Ukraine notice on a digital billboard in New York City is fabricated, according to the company managing the unit. Reuters confirmed the location of the advertising screens as 200 W 50th St, New York. Outdoor advertising company Clear Channel Outdoors, which manages the space, told Reuters the advertisement seen in the video is fake. The ad has never appeared on its screens, a spokesperson for the firm said. The digital billboard messages shown in the video never appeared on the New York City display shown, according to the company managing the promotional screen.
Persons: ISRAEL ”, Read Organizations: UKRAINE ”, ISRAEL, ABC, Facebook, Reuters, Outdoor, New, Thomson Locations: Israel, Ukraine, New York, Manhattan, UKRAINE, St , New York
On the steps of the New York Public Library, demonstrators waved flags and called for a cease-fire in the Israel-Hamas war. The march in Midtown closed sections of Fifth Avenue before protesters turned onto 34th Street, snarling evening commute traffic. Tensions have risen on college campuses in recent weeks as the debate over the Israel-Hamas war has divided student groups and roiled campus life. Fadi Shuman, a computer science undergraduate who is Palestinian, said he was upset Columbia wasn’t doing more to combat Islamophobia on campus. Credit... Jeenah Moon for The New York TimesLuis Cruz, 19, who traveled to Bryant Park from Staten Island, said he was glad to see students in the crowd.
Persons: , Sam Cribben, they’re, Fadi, Mr, Shuman, , Sandor John, John, The New York Times Luis Cruz, ” Troy Closson, Nate Schweber, Liset Cruz, Erin Nolan Organizations: New York Public Library, Israel, Eighth, The New York Times, Columbia University, Low, Columbia, Bryant, City University of New, Fifth, CUNY, Times, New York Times Locations: Israel, Midtown Manhattan, New York City, Midtown, Bryant Park, Gaza, Palestine, City University of New York, Vietnam, Bryant, Staten Island
Construction of the long-delayed rail tunnel under the Hudson River is about to speed up, as the project gets an additional injection of $3.8 billion in federal funding. Senator Chuck Schumer, Democrat of New York and the majority leader, will announce the latest grant from Washington on Friday, just before he and Pete Buttigieg, the transportation secretary, are scheduled to proclaim the start of work this month on the next phase of the $16.1 billion tunnel on Manhattan’s West Side, known as the Gateway project. This new, early phase of the project involves constructing a concrete casing for trains to pass through under the Hudson Yards section of Midtown Manhattan, between the river’s edge and Pennsylvania Station. On the New Jersey side of the river, work is scheduled to begin, also this month, on the realignment of a highway so that the digging of the tunnel can begin. Plans laid out by the project’s sponsor, the Gateway Development Commission, call for two giant boring machines to grind their way through the cliff, under the river and into the bedrock of Manhattan.
Persons: Chuck Schumer, Pete Buttigieg Organizations: Pennsylvania, Gateway Development Commission Locations: Hudson, New York, Washington, Midtown Manhattan, Jersey, Manhattan
Palestinians search for casualties at the site of Israeli strikes on houses, in Khan Younis, in the southern Gaza Strip, October 25, 2023. REUTERS/Ibraheem Abu Mustafa Acquire Licensing RightsOct 27 (Reuters) - Hundreds of protesters demanding a ceasefire between Israel and Hamas forced the closure on Friday of Grand Central Terminal, one of New York City's major transit hubs, the Metropolitan Transportation Authority said. "Grand Central Terminal is closed until further notice due to a protest," the MTA said on its website, urging commuters to use alternate stations and plan for extra travel time. Israel's military widened its air and ground attacks on the Palestinian enclave of Gaza on Friday. Hamas, the Palestinian militant group that rules Gaza, said its militants were ready to confront Israeli attacks with "full force."
Persons: Khan Younis, Abu Mustafa, Daniel Trotta, Cynthia Osterman, William Mallard Organizations: REUTERS, Metropolitan Transportation Authority, Jewish, Hamas, Thomson Locations: Gaza, Israel, New York, Midtown Manhattan, Palestinian
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