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☆ FDIC launches sale of $18.5 billion of Signature Bank loans
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

July 28 (Reuters) - The U.S. Federal Deposit Insurance Corporation (FDIC) set in motion the sale of an $18.5 billion loan portfolio from Signature Bank this week, a set of loans linked to major private equity and investing firms, according to the regulator's website. The FDIC hired Newmark Group (NMRK.O) in March to sell about $60 billion of Signature Bank's loans, after state regulators decided to close down the failed lender amid a turmoil in regional banks earlier this year. The sale was launched on July 25 and is limited to FDIC-insured depository institutions, the Bloomberg report said. The notice reads that the loans for sale "consist of subscription credit facilities to private equity funds." Reporting by Pritam Biswas in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Thoma, Newmark, Pritam Biswas, Arun Koyyur Organizations: U.S, Federal Deposit Insurance Corporation, Signature Bank, Starwood Capital Group, Carlyle Group, Blackstone, Thoma Bravo, Brookfield Asset Management, Bloomberg, FDIC, Newmark Group, Thomson Locations: Bengaluru

New York is doing better than San Francisco — Manhattan has a vacancy rate of 13.5 percent — but it can no longer count on the technology industry for growth. More than one-third of the roughly 22 million square feet of office space available for sublet in Manhattan comes from technology, advertising and media companies, according to Newmark. The company has opted not to renew leases covering 250,000 square feet in Hudson Yards and for 200,000 square feet on Park Avenue South. Twitter, Microsoft and other technology companies are also trying to sublease unwanted space. The large amount of space available for sublet is also driving down the rents that landlords are able to get on new leases.

Persons: Newmark, ”, Ruth Colp, Haber, Colp Organizations: sublet, New, New York State, Spotify, Trade Center, Twitter, Microsoft, Wharton Property Advisors Locations: York, Francisco —, Manhattan, New York, Hudson Yards

☆ Public Storage to acquire Simply Self Storage for $2.2 bln
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

July 24 (Reuters) - Self-storage operator Public Storage (PSA.N) said on Monday it has entered a deal to buy Simply Self Storage from Blackstone Real Estate Income Trust (BREIT) for $2.2 billion, as it looks to expand its market presence. Demand for storage space has waned from the heights of the pandemic, as people return to offices, and some analysts expect more consolidation in the sector. Earlier this year, California-based Public Storage made a hostile bid to acquire smaller rival Life Storage. But in April, real estate investment trust Extra Space Storage announced a $12.7 billion deal with Life Storage. Eastdil Secured served as financial adviser to Public Storage, whereas Wells Fargo and Newmark Group acted as lead financial advisers to BREIT.

Persons: Blackstone, Eastdil, Aishwarya Nair, Krishna Chandra Organizations: Blackstone Real, Income, Newmark, Thomson Locations: California, BREIT, Wells, Bengaluru

☆ Commercial real estate loans are the next big risk for lenders. See the top 20 banks with the most property debt exposure, from JPMorgan to Wells Fargo.
▼ + stars: | 2023-07-20 | by ( Alex Nicoll | Daniel Geiger | ) www.businessinsider.com time to read: +3 min

Rising interest rates and remote work have put commercial real estate in the hot seat. With the help of Trepp, we've compiled a list of the top bank lenders for commercial real estate. The rising property losses are the result of rising interest rates, which have dramatically increased the cost of borrowing for highly leveraged commercial real estate investors. Office property owners are most at risk thanks to the remote-work phenomenon, which has been emptying out offices for three years now. Big names like Blackstone, Brookfield, and Starwood all have defaulted on properties and real estate securities in recent months.

Persons: we've, Wells, Chase, It's, Goldman Sachs, Newmark, Michael Santomassimo, Santomassimo, We've Organizations: JPMorgan Chase, Wells Fargo, Starwood, Bank of America, Signature Bank, New York Community Bank, Mortgage Bankers Association, Wells, Trepp, Federal Reserve, SEC Locations: Blackstone, Brookfield

☆ An Elite School, a Boy’s Suicide and a Question of Blame
▼ + stars: | 2023-07-02 | by ( John Leland | ) www.nytimes.com time to read: +2 min

Suspected suicide attempts among adolescents Ellis’s age were up 49 percent in 2021 compared with prepandemic levels, according to the Centers for Disease Control and Prevention. “Because it did not contextualize in any way what the issues were in my son’s suicide. And it says the school is being proactive to deal with this mental health crisis. Totally dishonest.”Jeffrey Gural, Ellis’s grandfather, also pressed the school’s board of trustees. The elder Mr. Gural is chairman of GFP Real Estate L.L.C.

Persons: Gural, Tompkins, “, ”, ” Jeffrey Gural, Ellis’s, Newmark Knight Frank, Ellis, ‘, ’ ”, Ann’s Organizations: Centers for Disease Control, Newmark Holdings

☆ Opinion: The fifth Beatle is artificial intelligence
▼ + stars: | 2023-06-16 | by ( Opinion Jere Hester | ) edition.cnn.com time to read: +5 min

CNN —Who’s the fifth Beatle? But now there’s a 21st century contender for the honor: artificial intelligence. The band took some flak for releasing two songs years after Lennon’s murder in 1980. Pepper’s Lonely Hearts Club Band” album with trippy loops and other innovations that changed the course of popular music. But in the right hands — in this case, Jackson and McCartney’s — AI can be a tool that wields magic.

Persons: Jere Hester, Craig Newmark, CNN —, Jere Hester John Smock, Sir George Martin, Brian Epstein, Stuart Sutcliffe, Sir Paul McCartney’s, John Lennon’s, Lennon, McCartney, Peter Jackson, ”, Yoko Ono, Lennon’s, Jackson, McCartney’s, Facebook McCartney, Ringo Starr, Ono, George Harrison’s, Olivia, Let’s Organizations: Craig Newmark Graduate School of Journalism, CUNY, CNN, BBC Radio, Twitter, Beatles Locations: Liverpool

A person who works with the group, American Edge Project, told CNBC that the $34 million was from Facebook. A Meta spokesman declined to comment and referred CNBC to American Edge instead. The person who works with American Edge told CNBC that the $4 million was also entirely from Facebook. American Edge launched a wave of TV and digital ads from late 2020 through 2021, taking on antitrust proposals. American Edge spent over $5 million between TV and digital ads in 2021, according to data from AdImpact.

[1/3] U.S. President Joe Biden attends the groundbreaking of the new Intel semiconductor manufacturing facility in New Albany, Ohio, U.S., September 9, 2022. But all that new construction has a real estate problem. That would be a problem for the Biden administration, which has pushed through legislation to fuel the developments. A White House official said it was a "high-class problem" to have, adding: "Folks are finding places to build. The governors of South Carolina, Virginia and North Carolina have each proposed to spend hundreds of millions of dollars on readying industrial sites in the coming years.

☆ FDIC announces sale process of former Signature Bank loan portfolio
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +1 min

April 3 (Reuters) - The Federal Deposit Insurance Corporation (FDIC) on Monday announced the marketing process for the about $60 billion loan portfolio retained in receivership following the failure of Signature Bank. The FDIC expects to begin its marketing of the retained loan portfolio of the former Signature Bank later this summer, it said in a statement. The portfolio is comprised primarily of commercial real estate (CRE) loans, commercial loans and a smaller pool of single–family residential loans. Last week, Reuters reported that FDIC has retained advisers to sell the securities portfolios that the new owners of failed Silicon Valley Bank and Signature Bank rejected. The FDIC said on Monday it has retained Newmark & Company Real Estate Inc as an advisor on the sale.

[1/3] FDIC representatives Luis Mayorga and Igor Fayermark speak with customers outside of the Silicon Valley Bank headquarters in Santa Clara, California, U.S. March 13, 2023. REUTERS/Brittany Hosea-SmallNEW YORK/WASHINGTON, March 31 (Reuters) - The Federal Deposit Insurance Corporation (FDIC) has retained advisers to sell the securities portfolios that the new owners of failed Silicon Valley Bank and Signature Bank rejected, according to people familiar with the matter. Silicon Valley Bank's and Signature Bank's securities portfolios carry a face value of around $90 billion and $26 billion, respectively, according to regulatory filings and statements by government officials. The FDIC estimates the sale of Silicon Valley Bank and Signature Bank will cost the deposit fund $20 billion and $2.5 billion, respectively. It will release final figures once sales of the loan books of the banks and their securities portfolios are complete.

☆ Billions in Signature Bank Debt to Be Sold by Newmark Group
▼ + stars: | 2023-03-29 | by ( Peter Grant | Konrad Putzier | ) www.wsj.com time to read: 1 min

The Federal Deposit Insurance Corp. has hired Newmark Group Inc. to sell about $60 billion of Signature Bank loans, according to people familiar with the matter, a process that is expected to intensify pressure on falling commercial real-estate values. Signature collapsed earlier this month after its customers rushed to pull deposits. The bank held $35.7 billion in real-estate loans at the end of 2022, which accounted for nearly half of its total loans at the time, according to FDIC data.

☆ FDIC hires Newmark Group to sell billions of Signature Bank debt - source
▼ + stars: | 2023-03-29 | by ( Manya Saini | ) www.reuters.com time to read: +2 min

[1/2] The company logo for Signature Bank is displayed at a location in Brooklyn, New York, U.S., March 20, 2023. Earlier this month, state regulators closed New York-based Signature Bank, making it the third largest failure in U.S. banking history. The subsidiary, Flagstar Bank, assumed substantially all of Signature Bank's deposits, some of its loan portfolios and all 40 of its branches. On Tuesday, FDIC told Signature Bank's crypto clients they have until April 5 to close their accounts and move their money. New York's financial regulator had said earlier in March its decision to close Signature Bank had "nothing to do with crypto."

☆ FDIC hires Newmark Group to sell billions of Signature Bank debt - WSJ
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

[1/2] The company logo for Signature Bank is displayed at a location in Brooklyn, New York, U.S., March 20, 2023. REUTERS/Brendan McDermidMarch 29 (Reuters) - The Federal Deposit Insurance Corp (FDIC) has hired Newmark Group Inc (NMRK.O) to sell about $60 billion of Signature Bank loans, the Wall Street Journal reported on Wednesday citing people familiar with the matter. Earlier this month, state regulators closed New York-based Signature Bank, making it the third largest failure in U.S. banking history. On March 19, a subsidiary of New York Community Bancorp (NYCB.N) entered into an agreement with U.S. regulators to buy deposits and loans from Signature Bank. The subsidiary, Flagstar Bank, assumed substantially all of Signature Bank's deposits, some of its loan portfolios and all 40 of its branches.

☆ Stocks making the biggest moves midday: Lululemon, Micron, Carnival, Foot Locker & more
▼ + stars: | 2023-03-29 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Micron Technology — The semiconductor manufacturer added 5.3% after management said it was planning a bigger headcount reduction than previously expected. Carnival — Shares gained 3.6% after being upgraded by Susquehanna to positive from neutral. The move comes a day after the stock gained 6.1% following an upgrade by Wells Fargo to equal weight from underweight. Urban Outfitters , Burlington Stores , Foot Locker , Ross Stores — Shares of major retailers declined Wednesday after UBS downgraded the group to sell from neutral. Petco — Shares of the pet health and wellness company gained 5% after CEO & Chairman Ron Coughlin disclosed a 61,000 share purchase.

☆ NYC's Flatiron building is going up for sale in a public auction—anyone can win: Here's what to know
▼ + stars: | 2023-03-10 | by ( Celia Fernandez | ) www.cnbc.com time to read: 1 min

If you've ever wanted to own a piece of New York City history, you will soon have the chance. The Flatiron Building is going for up sale at Mannion Auctions on March 22. Four real estate firms — GFP Real Estate, Newmark, ABS Real Estate Partners, and the Sorgente Group —own a collective 75% stake in the 22-story skyscraper, while a fifth partner, Nathan Silverstein, owns the remaining 25%. The four real estate firms sued Silverstein in 2021 to force a sale of their stakes after alleging the fifth partner's business decisions were keeping the Flatiron Building empty. Silverstein countersued the four partners claiming that they wanted to lease the building at a below-market price to a company linked to one of the owners, Newmark.

☆ Nearly 1 in 4 U.S. hospitalized patients experience a harmful event, study finds
▼ + stars: | 2023-01-11 | by ( Kaitlin Sullivan | Kaitlin Sullivan Is A Contributor For Nbcnews.Com Who Has Worked With Nbc News Investigations. She Reports On Health | Science | ) www.nbcnews.com time to read: +7 min

The stark findings underscore that, despite decades of effort, hospitals in the United States still have a long way to go to improve patient safety, experts say. A total of 222 adverse events were considered preventable, meaning an error resulted in patient harm. Twenty-nine people, or 1% of the total of those admitted, experienced serious preventable adverse events that resulted in serious harm. The most common adverse events overall (nearly 40%) were related to medications given in the hospital. It used data from patients hospitalized in New York state in 1984, and found that only about 4% of hospitalized patients experienced harm.

☆ New guidelines for treating childhood obesity include medications and surgery for first time
▼ + stars: | 2023-01-09 | by ( Kaitlin Sullivan | Kaitlin Sullivan Is A Contributor For Nbcnews.Com Who Has Worked With Nbc News Investigations. She Reports On Health | Science | ) www.nbcnews.com time to read: +8 min

Intensive behavioral and lifestyle changes should be the first-line approach, but the AAP also includes recommendations for anti-obesity medications and surgery for the first time. The guidelines say that pediatricians should offer weight-loss drugs for children age 12 and up with obesity. She also acknowledged that these lifestyle changes can be really hard to adopt, especially for overworked and low-income parents. The more adverse the environment around you, the harder it is to live a healthy lifestyle,” Hassink said. Medications and surgery are expensive, and asking overstretched parents to implement lifestyle changes is not always realistic.

This year brought a fascinating and eclectic number of books by Latino authors to store shelves and online selections, spanning different genres and earning high praise from readers and reviewers alike. Below is our list of 10 very distinctive works by U.S. Latino authors. The compelling novel has been recognized as one of the top 10 books of 2022 by The New York Times and The Washington Post and as one of the best books of 2022 by Time, NPR, Vogue, Oprah Daily and others. Although Villanueva's life took a different turn, many of his followers and their children, known as "Inca Jews," are still in Israel. She writes about how an abortion saved her life and candidly details her experiences dealing with suicidal thoughts and depression.

☆ KKR is canceling its plans for a big new Manhattan office. It joins Meta, Netflix, and other big firms pulling back on office space.
▼ + stars: | 2022-11-22 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +6 min

Two senior leasing executives in Los Angeles told Insider that Meta just canceled its plans to expand by 300,000 square feet in the city. KKR's decision comes as New York City's office market flagsTenants who are on the fence about taking space have little incentive to rush to commit to deals as the city's office market continues to soften. Leasing activity in Manhattan totaled 20.27 million square feet through October, according to CBRE, 38% more than the same period last year. Leasing is on track to finish the year well below prepandemic activity in 2018 and 2019, when 32.4 million and 31.6 million square feet were leased respectively in total. Cushman & Wakefield data showed there was over 21 million square feet of sublease space available in Manhattan in September.

☆ The only thing Elon Musk understands about Twitter is how to kill it
▼ + stars: | 2022-11-21 | by ( Adam Rogers | ) www.businessinsider.com time to read: +15 min

Biologists, anthropologists, and information theorists do think that social networks, like Musk's bird app, show at least some signs of being flocks. "Elon's tweet is basically espousing the invisible hand of social behavior," Bak-Coleman says. In this construction, a social network might have become a collective superintelligence, had capitalists left it to its — our? Under Musk, Twitter has entered the dance-off phase. I'll be sad if the Twitter superintelligence starts singing a Kubrickian cover of "Daisy" and implodes into a pile of melting isolinear chips.

☆ A member of the billionaire Safra family who owns the Encyclopedia Britannica might be about to lose his $204 million Napa Valley vineyard after defaulting on a loan
▼ + stars: | 2022-09-30 | by ( Jack Newsham | ) www.businessinsider.com time to read: +4 min

But one of his top holdings — Spring Mountain Vineyard, valued at $204 million — could be seized. But that may not stop a private lender from grabbing a prized California vineyard owned by Jacob E. "Jaqui" Safra, a colorful investor and member of the family who lives in Switzerland. With interest accruing at 16%, as of late July, the balance on the loan is $192 million, Safra's lawyer Marc Kasowitz said in court papers. Atmosphere at Live In The Vineyard on Day 1 at Spring Mountain Vineyard for music, food and wine on November 6, 2014 in St Helena, California. "Applicant seeks to restrain defendants from exercising their rights…with respect to a California vineyard," he wrote.

☆ Frozen embryos linked to increased risk of hypertensive disorders during pregnancy, study finds
▼ + stars: | 2022-09-26 | by ( Kaitlin Sullivan | Kaitlin Sullivan Is A Contributor For Nbcnews.Com Who Has Worked With Nbc News Investigations. She Reports On Health | Science | ) www.nbcnews.com time to read: +5 min

Undergoing in vitro fertilization using frozen embryos is linked to a greater risk of hypertensive disorders, including preeclampsia, during pregnancy, according to research published Monday in the journal Hypertension. Overall, the risk of hypertensive disorders was low: about 7.4% in women who used frozen embryos, compared with 5.6% in women who used fresh embryos and 4.3% for women who conceived naturally. In addition, they found, there was no significant difference in risk between the women who conceived naturally and those who did IVF using fresh embryos. The group included 4.4 million naturally conceived pregnancies and compared them to just over 78,000 IVF pregnancies conceived using a fresh embryo and about 18,000 using a frozen embryo. Petersen emphasized that the overall risk for preeclampsia was still low and that the results of the new study should not scare women away from using frozen embryos.

☆ Cancer death rates continue to fall, driven by new treatments and improved screening
▼ + stars: | 2022-09-21 | by ( Kaitlin Sullivan | Kaitlin Sullivan Is A Contributor For Nbcnews.Com Who Has Worked With Nbc News Investigations. She Reports On Health | Science | ) www.nbcnews.com time to read: +6 min

Significant strides in cancer treatments, diagnostic tools and prevention strategies continue to drive down cancer death rates, according to a report published Wednesday by the American Association for Cancer Research. Death rates from cancer have been falling over the past two decades, particularly sharply in recent years, the group's annual Cancer Progress Report found. “Cancer cells are mavericks, but they are your own cells. Coussens also highlighted developments in cancer drugs that work by targeting specific DNA mutations in cancer cells but noted that more work is still needed. Catching cancer earlyAlso key to cutting cancer death rates is catching the disease as early as possible.

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