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☆ Office vacancies surged and sale prices dropped further this year as the market entered its 'slog' phase
▼ + stars: | 2024-12-22 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

Remote and hybrid work continues to weigh on the office sector. The US office market slumped again this year, entering a new phase of downturn that could last for years to come, a report said this week. The data comes as the lingering effects of the COVID-19 pandemic continue to weigh on the office sector. The real estate market has been fretting over the state of the office sector since the pandemic. AdvertisementA frequently proposed option for unused office space has been to turn it into apartments.

Persons: CommercialEdge, We've, we've, Peter Kolaczynski Organizations: CommercialEdge, overbuilt, Austin, Detroit, Midwest, JPMorgan Chase, Companies, Dell, Meta, Kastle Systems Locations: overbuilt . Texas, Chicago, Detroit, Manhattan, Midtown

☆ Despite Stock Market Hopes, China's Stimulus Plan Won't Fix Economy
▼ + stars: | 2024-09-29 | by ( Linette Lopez | ) www.businessinsider.com time to read: +7 min

Homebuyers can also now put less money down on their purchases — an attempt to breathe life into China's moribund property market. Since the pandemic, China's leader, Xi Jinping, has done little to stop the bleeding in the country's property market or to get China's ailing consumers to start spending money again. Xi's Beijing lacks the will and the power to turn China's economy around. At the heart of its problems is a lack of consumer demand and a property market going through a deep, slow-moving correction. Plus, there's Xi, who seems fairly uninterested in restructuring the property market.

Persons: Gongsheng, Wall, Xi Jinping, China —, Goldman Sachs, —, Sam Altman, Genéralé, Michael Pettis, Xi doesn't, Friedrich Hayek, Xi Organizations: Beijing, People's Bank of China, People's Bank, Shanghai, Chinese Communist Party, Nasdaq, CCP, Peking University, Carnegie Endowment, European Union Locations: China's, China, Beijing, Austrian

☆ Ron Insana: China's stock rally won't last because its economic problems run too deep
▼ + stars: | 2024-09-26 | by ( Ron Insana | ) www.cnbc.com time to read: +5 min

China's stock market has recently rebounded on the promise of further economic and market stimulus. The measures include cuts to a variety of interest rates , as well as support for China's flagging real estate sector . China's stimulus efforts The Shanghai Composite has rallied sharply in the aftermath of those moves but remains about 50% below its all-time high of nearly 6,000, last seen in 2007. These moves have failed to boost growth or lead to a durable and sustainable stock market rally. The U.S. stock market accounted for roughly 60% of global stock market valuation in 2023.

Persons: David Tepper, Let's, Ron Insana Organizations: Bank, Atlanta, Apple, Microsoft, Nvidia, Amazon, European Union, U.S . Energy, Administration, The, U.S, Olympus, CNBC Locations: United States, China, It's, Shanghai, U.S, Beijing, Europe, Canada, European, The U.S, Russia, Iran, North Korea

☆ Why your local pharmacy may be closing
▼ + stars: | 2024-06-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Read previewThursday's news that Walgreens will close a "significant" number of underperforming stores threw a spotlight on struggles facing the retail pharmacy industry. Related storiesIn short, regardless of which national pharmacy brand you pick, there's a fair chance the location in your neighborhood could close, if it hasn't already. For starters, retail pharmacies make money in two key ways: by dispensing prescription medication and ancillary medical services, and by selling an assortment of merchandise in their "front of house" retail stores. But even if things were going well for Walgreens, Wentworth suggested there would likely still be quite a few closures. "I think most of us knew — when I was in the PBM [pharmacy benefit management] business — I knew that retail pharmacy was largely overbuilt for where the future was going to be."

Persons: —, Tim Wentworth, Wentworth, Manmohan Mahajan, execs, Neil Saunders Organizations: Service, Walgreens, Business, CVS

☆ Amazon is winning the biggest dollar share of new retail spending — and by a lot
▼ + stars: | 2024-05-28 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Amazon is winning the biggest dollar share of new retail spending — both online and brick-and-mortar — and it's not even close. AMZN YTD mountain AMZN stock performance year-to-date. Morgan Stanley said Walmart 's performance this year is "not too shabby" but a distant second to Amazon. Amazon has been benefitting from the consumer's continued shift to buying stuff online, a trend that should benefit AMZN stock. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: it's, Morgan Stanley, Zev Fima, Amazon's, We've, Jim Cramer's, Jim Cramer, Jim Organizations: Amazon, Walmart, Management, Deal, CNBC, Getty Locations: America

☆ Here's where rents are rising — and where they're falling
▼ + stars: | 2024-05-21 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Multifamily rents in April were 0.8% lower than they were in the same month last year, according to Apartment List. Apartment rents did rise for the third straight month, but the growth, at 0.5%, is very small. Single-family rents are much stronger, up 3.4% in March year over year, according to a new report from CoreLogic. "U.S. single-family rent growth strengthened overall in March, though some weaknesses are revealed in the latest numbers," said Molly Boesel, principal economist for CoreLogic. Of the nation's 20 largest cities, Seattle saw the highest year-over-year increase in single-family rents at 6.3%, followed by New York at 5.3% and Boston at 5.2%.

Persons: Molly Boesel, Boesel Organizations: National Association of Home Builders, CoreLogic, Boston Locations: Austin , Texas, Seattle, New York, Miami, New Orleans, townhomes, Florida, Austin

☆ KKR says China's real estate correction may only be halfway done
▼ + stars: | 2024-04-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

"A fundamentally overbuilt real estate industry needs to be addressed — and quickly," he said in the report, which counts Changchun Hua, KKR's chief economist for Greater China, among the co-authors. Real estate and related sectors once accounted for about one fifth or more of China's economy, depending on the breadth of analysts' calculations. Based on comparisons to housing corrections in the U.S., Japan and Spain, China's "housing market correction may be just halfway complete" in terms of its depth, the KKR report said. watch nowWhile KKR's report didn't provide much detail on expectations for specific real estate policy, the authors said more action by Beijing to improve China's real estate sector "could materially shift investor perception." Chinese officials have said the real estate sector remains in a period of adjustment, while Beijing shifts its emphasis toward manufacturing and what it considers "high-quality development."

Persons: Henry H, McVey, " McVey, Hong, Nomura Organizations: West Coast New, Nurphoto, Getty, BEIJING, KKR, Authorities, Housing Locations: West, Qingdao, East China's Shandong, China, Changchun Hua, Greater China, U.S, Japan, Spain, Beijing, China's

☆ I lived in Bali for 2 months. These 7 popular tourist spots were not worth the hype.
▼ + stars: | 2024-04-02 | by ( Jonathan Levin | ) www.businessinsider.com time to read: +7 min

I spent two months living in one of my bucket-list destinations — the tropical island of Bali. The beaches were mostly a letdownThe beaches in Bali aren't necessarily bad, and some are really nice. But walking anywhere in Ubud felt far more chaotic than the romantic drama "Eat, Pray, Love" depicts. Jonathan LevinIndonesia's Gili Islands are not technically part of Bali, but ferry trips to it are popular among Bali visitors, so it feels worth mentioning. AdvertisementOn one side of the island, there's a very narrow strip of sand that seemed to be mostly privatized.

Persons: —, Hugo Amaral, Jonathan Levin, Ubud, I'm, Canggu, pesky, Jonathan Levin Indonesia's Organizations: Service, Business, Gili Locations: Southeast Asia, Bali . Bali, Bali, it's, Nusa Penida, Ubud, Central

☆ It’s not just the Super Bowl. Catching a game is becoming unaffordable
▼ + stars: | 2024-02-04 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

In 2023, the average NFL ticket climbed 8.6% to $120, according to Team Marketing Report, a sports market research company. Allegiant Stadium in Las Vegas, home of the Super Bowl, is the third smallest NFL stadium. The closing of the upper deck in Oakland helped the Athletics raise ticket prices during the early 2000s, for example. Five of the most recent seven NFL stadiums have seating for 71,000 or less. Relatively small, that ranks it 27th out of 30 NFL stadiums in capacity.

Persons: ”, Victor Matheson, Lionel Messi’s, Todd Kirkland, ” Matheson, Kirby Lee, Dennis Coates Organizations: New, New York CNN, Super, NFL, College of, Nebraska, Lionel Messi’s MLS, Atlanta Braves, Bureau of Labor Statistics, BLS, Ticketmaster, New York Yankees, USA, Reuters, Athletics, Oakland, Las, University of Maryland, Minnesota Twins, Florida Marlins, NFL’s Raiders, Kansas City Chiefs, San Francisco 49ers Locations: New York, Las Vegas, Oakland, Baltimore County

☆ The looming office space real estate shortage. Yes, shortage
▼ + stars: | 2023-11-26 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +6 min

You read that right: amid a commercial real estate market across U.S. downtowns being described in apocalyptic terms, CoStar sees a shortage on the horizon, with one key caveat for top companies to bear in mind. CoStar's call of an upcoming office space shortage is predicated on a look at the current data on leasing and construction activity compared to recent market history. They have attracted over 175 million square feet of net new occupancy since the beginning of 2020, an average of 12.7 million square feet per quarter. "Modern, premium office space remains in demand, just as it has historically, even during difficult economic times," said Phil Mobley, national director of office analytics at CoStar Group. Less than 30 million square feet has broken ground in 2023, making this year the lowest for construction starts since 2011.

Persons: Visoot, downtowns, Phil Mobley, Google's, Mobley, Jeff Greene Organizations: CNBC, Google, City, Gas Co, Billionaire Locations: U.S, New, Los Angeles, West Palm Beach

The IMF said it expects global economic growth to slow to 2.9% in 2024 from an expected 3% this year. “The global economy is limping along, not sprinting," IMF chief economist Pierre-Olivier Gourinchas said at a news conference during the organization's annual meeting in Marrakech, Morocco. If sustained, a 10% increase in oil prices would reduce global economic growth by 0.15% and increase global inflation by 0.4%, Gourinchas said. So far, the increase in oil prices has been “fairly muted,” said Commerzbank commodities analyst Carsten Fritsch. The United States is a standout in the IMF’s latest World Economic Outlook, which was completed before the outbreak of war between Israel and Hamas.

Persons: Pierre, Olivier Gourinchas, “, Gourinchas, “ We’ve, ”, Carsten Fritsch Organizations: Hamas, International Monetary Fund, IMF, United Arab, U.S . Federal Reserve, Saudi Locations: Ukraine, Israel, Marrakech, Morocco, Palestinian, Gaza, Saudi Arabia, United Arab Emirates, Kuwait, Iraq, United States, U.S, Europe, Russia, Beijing

☆ Two developments created in a tug-of-war in Amazon stock, fueling debate on our next move
▼ + stars: | 2023-06-21 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: It's, Jim Cramer, Jim, Lina Khan, Homestretch, Jefferies, it's, Jim Cramer's, Washington, Mike Segar Organizations: Amazon, Trade, Jefferies, Web Services, Big Tech, Jim Cramer's Charitable, CNBC Locations: New York

☆ Salesforce to cut about 10% of staff
▼ + stars: | 2023-01-04 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +3 min

CNN —Salesforce said Wednesday that it will cut approximately 10% of its workforce and reduce its real estate footprint, making it the latest tech company to slash expenses as broader economic uncertainty continues to hit Silicon Valley particularly hard. “I’ve been thinking a lot about how we came to this moment,” Benioff wrote. Like Benioff, a number of other tech founders and CEOs have since admitted they failed to accurately gauge pandemic demand. As a result, tech firms including Amazon and Meta have announced company-wide layoffs. And most of all, please lean on your leadership, including me, as we work through this difficult time together.”

☆ Get ready for a ‘slowcession’ in 2023, Moody’s says
▼ + stars: | 2023-01-03 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

But Moody’s Analytics says the more likely scenario is a “slowcession,” where growth grinds to a near halt but a full economic downturn is narrowly avoided. “Under almost any scenario, the economy is set to have a difficult 2023,” Moody’s Analytics chief economist Mark Zandi wrote in a report on Tuesday. Why Moody’s is predicting no recessionIn addition to cooling inflation, Moody’s expressed optimism about the ability of consumers to weather the storm in 2023. “Shoppers are the firewall between an economy in recession and an economy that skirts a downturn,” Zandi wrote. “It is important not to be Pollyannish, but it also important not to convince ourselves that a recession is inevitable,” Zandi wrote.

☆ Here are Tuesday's biggest analyst calls: Tesla, Apple, Wynn, Amazon, Wendy's, Delta & more
▼ + stars: | 2023-01-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

We are lowering our relative ratings on ALLY, COF and MTB from Overweight to Equal Weight and ZION from Equal Weight to Underweight." Wells Fargo upgrades Wynn to overweight from equal weight Wells said in its upgrade of the casino company that it sees a significant reopening opportunity for the stock. " Wells Fargo initiates Mondelez as overweight Wells said the food products company has "superior" fundamentals. Wells Fargo downgrades Molson Coors to equal weight from overweight Wells said in its downgrade of the stock that it sees downside to estimates. Baird names Wells Fargo a top 2023 pick Baird said it likes the risk/reward for the banking giant in 2023.

☆ Amazon lost half its value this year as tech stocks got crushed and recession fears grew
▼ + stars: | 2022-12-29 | by ( Annie Palmer | ) www.cnbc.com time to read: +2 min

Andy Jassy, CEO of Amazon and then CEO of Amazon Web Services, speaks at the WSJD Live conference in Laguna Beach, California, October 25, 2016. It was a brutal year for mega-cap tech stocks across the board. Only Tesla , down 68%, and Meta , off 66%, have had a worse year among the most valuable tech companies. That drove Amazon's stock to record highs as sales soared. It's since paused or abandoned plans to open some new facilities, and its head count shrank in the second quarter.

☆ FedEx is overbuilt but has the opportunity to generate cash flow
▼ + stars: | 2022-12-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFedEx is overbuilt but has the opportunity to generate cash flow in 2023Ken Hoexter, Research Analyst at Bank of America Securities, joins Worldwide Exchange to discuss FedEx earnings.

☆ Amazon CEO says Prime could become 'standalone business,' stands by layoffs
▼ + stars: | 2022-11-30 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Amazon (AMZN) could potentially spin off its Prime streaming unit as a separate company, CEO Andy Jassy said Wednesday. During a wide-ranging interview at the The New York Times' DealBook Summit , Jassy said that "overtime we have opportunities to make our Prime video business a standalone business that has very attractive economics." Streaming Amazon's Prime Video, one of the fastest growing streaming services, could be a standalone business one day, Jassy said. "Our Prime Video offering is an important ingredient...increasingly you see more and more people signing up to Prime because of the video content," he explained. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

☆ Meta clearly overbuilt its workforce, says Loup's Gene Munster
▼ + stars: | 2022-11-07 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMeta clearly overbuilt its workforce, says Loup's Gene MunsterGene Munster, founder and managing partner at Loup Ventures, joins CNBC's 'Squawk Box' to discuss shares of Meta as the company reportedly prepares large-scale layoffs.

☆ The founder of a real-estate investing platform highlights the 3 most attractive cities in the southeast right now, explains what's so appealing about them, and offers predictions for the coming month
▼ + stars: | 2022-10-29 | by ( Morgan Chittum | Kathleen Elkins | Aj Latrace | ) www.businessinsider.com time to read: +6 min

Real estate investment platform Cadre identified the most valuable places for investing right now. Institutional money has made big waves in residential real estate over the last year, with each quarter seemingly setting a new record for the number of homes purchased by investors versus regular individuals. A year ago, some of the most popular places for investors included southern cities such as Atlanta, Charlotte, and Jacksonville. Raleigh, Charlotte, and NashvilleRaleigh, Charlotte, and Nashville are some of the top growing cities for industrial, commercial, and multi-family real estate, Williams says. These fundamentals are what make these three metros strong candidates for continued investment in various asset classes — particularly residential real estate — in the coming years, he suggests.

☆ Amazon rolls out broad-based pay raises for warehouse workers across its fulfillment network
▼ + stars: | 2022-09-28 | by ( Katherine Long | ) www.businessinsider.com time to read: +1 min

Amazon workers of all types have been agitating for higher pay for years. The e-commerce giant has about 750,000 warehouse workers in the US. An Amazon spokesperson did not immediately respond to questions about whether all of its nearly 750,000 US warehouse employees are getting a pay bump. Amazon has sought to balance trimming costs across its warehouse network with an increasing need to retain employees. These new warehouse worker raises the raises go into effect in early October, according to one presentation Amazon made to staff.

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