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☆ Why the race for the House is the one to watch in 2024
▼ + stars: | 2024-02-10 | by ( Simone Pathe | ) edition.cnn.com time to read: +16 min

CNN —It won’t suck up anywhere near the oxygen of the presidential election, but the race for the US House of Representatives may be the most exciting campaign to watch in 2024. But in the House, Republicans’ shrinking majority has underscored the importance of the balance of power in Washington. House Republicans currently control 219 seats to Democrats’ 212, with four vacancies. Santos was expelled from the House last year, but he’s not absent from the race. Seats Republicans are targetingThe House GOP campaign arm releases a similar target list, which includes 37 offensive seats this year.

Persons: they’re, Democratic Sen, Joe Manchin’s, –, George Santos ’, Santos, he’s, Joe Biden, Biden, ”, “, Cam Savage, Nathan L, Gonzales, Nick LaLota, Anthony D’Esposito, Mike Lawler, Marc Molinaro, Brandon Williams, John Duarte, David Valadao, Mike Garcia, Young Kim, Michelle Steel, David Schweikert, Juan Ciscomani, Don Bacon of Nebraska, Tom Kean of, Lori Chavez, Brian Fitzpatrick, Jen Kiggans, Tom Suozzi, Donald Trump, Mary Peltola of, Marie Gluesenkamp Perez, Jared Golden of, Matt Cartwright of, Marcy Kaptur, Kaptur, Elissa Slotkin –, Dan Kildee, Kildee –, don’t, Dale Kildee, Abigail Spanberger, Susan Wild, Emilia Sykes, Yadira, there’s, There’s, Ron DeSantis, Savage, Ron Brownstein, Trump, he’ll, Suozzi, Achim Bergmann, Bergmann, Gavin Newsom, Kathy Hochul, Eric Adams, Roe, Wade, Meredith Kelly Organizations: CNN, US, Democratic, House, Washington . House Republicans, ’, GOP, Santos, PAC, House Democratic, Republican, Congressional, Fund, Blue States Project, Republicans, Biden, New, Democratic Congressional, National Republican, Washington . Rep, –, Democrats, Rep, Independent, GOP Gov, Trump, Democrat, White, California Gov, New York Gov, New York City Locations: West Virginia, Washington, New York, Tuesday’s, York, California, “ California, Republican, Blue States, Michigan, New Mexico , Colorado, North Carolina, Arizona, Tom Kean of New Jersey, Oregon, Pennsylvania, Virginia, Iowa, Arizona , Colorado , Montana , Nebraska , Oregon , Texas, Arizona , California, Florida , Michigan, Wisconsin, Mary Peltola of Alaska, Jared Golden of Maine, Matt Cartwright of Pennsylvania, Ohio, Michigan’s 8th, –, Texas, Alabama, It’s, Louisiana, Florida, South Carolina, Charleston, Biden, Long, New

☆ How empty office space became the new bogeyman on Wall Street
▼ + stars: | 2024-02-09 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

And yet Wall Street is suddenly freaking out about bad real estate loans and empty office buildings. One regional lender — New York Community Bancorp — has seen its stock price implode and its credit rating slashed to junk in part because of its exposure to bad office loans. Japan’s Aozora Bank startled investors by blaming bad loans linked to US offices for a projected loss. That’s a major problem for an industry like real estate known for piling on debt. Importantly, Zandi said these bank failures will be limited to smaller lenders — the ones sitting on suddenly shaky office loans.

Persons: —, ” they’re, It’s, ”, Ed Mills, Raymond James, gameplan, Paul Volcker, That’s, Spencer Platt, ” Alessandro DiNello, NYCB, Powell, Janet Yellen, Jerome Powell, “, ” Mills, Mark Zandi, ” Zandi, Zandi, ” Banks Organizations: New, New York CNN, —, York Community Bancorp, Japan’s, Bank, Federal Reserve, Fed, Regulators, New York Community Bancorp, York Community Bank, Getty, Moody’s, CNN Locations: New York, sweatpants, Washington, Brooklyn, New York City

☆ Stocks making the biggest moves premarket: Disney, PayPal, Arm and more
▼ + stars: | 2024-02-08 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Ralph Lauren reported earnings of $4.17 per share, excluding items, while analysts surveyed by FactSet expected earnings of $3.57 per share. The company, which is anticipating soft sales growth this year, also announced a $1 billion share buyback program. Arm Holdings — The chipmaker's stock soared more than 28% after it reported a fiscal third-quarter earnings beat . Apollo Global Management — Shares rose nearly 3% after the asset management company's fourth quarter earnings topped estimates. The company reported $32 billion of inflows during the quarter, pushing its total assets under management to $651 billion.

Persons: Ralph Lauren —, Ralph Lauren, Morgan Stanley, Ally, Mattel —, Barbie toymaker, LSEG, Moody's, NYCB, FactSet's, —, Jesse Pound, Tanaya Macheel, Lisa Kailai Han, Michelle Fox Theobald Organizations: —, Revenue, Mattel, PayPal, New York Community Bancorp, Arm Holdings, Apollo Global Management, American, American Express, Maersk —, Maersk Locations: Danish

☆ New York City’s Housing Crunch Is the Worst It Has Been in Over 50 Years
▼ + stars: | 2024-02-08 | by ( Mihir Zaveri | ) www.nytimes.com time to read: +1 min

New York City’s housing crunch is the worst it has been in more than 50 years. It was the lowest vacancy rate since 1968 and shows just how drastically home construction lags behind the demand from people who want to live in the city. Housing experts often consider a “healthy” vacancy rate to be somewhere around 5 to 8 percent. A higher vacancy rate typically means it is easier for people to find apartments when they want to move. The data suggests New York City’s housing crisis is only getting worse, especially during the economic rebound from the coronavirus pandemic.

Persons: Eric Adams, ” Organizations: New Locations: York, New York

The pay increase appeared to have bipartisan support, though lawmakers never voted directly on it. Supporters of the pay increase say it is likely to make the Legislature more diverse when it's in danger of becoming mostly retirees and wealthy people. Senate President Ty Masterson, a Wichita-area Republican, saw opposition to the pay raise as political grandstanding. Olson said he doubts lawmakers' constituents support such a big pay raise and said they should have the courage to debate it and vote on it. And his boss — the taxpayers — haven't told him a pay raise is OK with them, he said.

Persons: Sen, Cindy Holscher, ”, Dan Hawkins, “, Rob Olson, Ty Masterson, Nicholas Reinecker, it's, Olson, Ken Corbet, —, — haven't, Becky Bohrer Organizations: Legislative, Wednesday, Alaska, New, National Conference of, Legislatures, Wichita Republican, Kansas City, Republican, ” Legislature, Topeka Republican, Associated Press Locations: TOPEKA, Kan, Kansas, Georgia, Texas, Kansas City, New Jersey, New York, New Mexico, Wichita, Topeka, Juneau , Alaska

☆ Wednesday analyst calls: JPMorgan downgrades New York Community Bancorp, Eli Lilly gets big boost
▼ + stars: | 2024-02-07 | by ( Pia Singh | ) www.cnbc.com time to read: +8 min

Troubled regional bank New York Community Bank faced a downgrade from JPMorgan, which said NYCB is facing a multitude of challenges. The firm upped its price target for the drug maker to $850, all the way from $200. Wells Fargo : Analyst Zachary Fadem kept his overweight rating and raised his target price by $200 to $2,800, implying 12.5% upside for shares. "After speaking to management, we confirmed these two executives had indeed left the company, wrote JPMorgan analyst Steven Alexopoulos. NXP's stock price is down 2.9% for the year, but still higher than 15% over the past 12 months.

Persons: Eli Lilly, Eric Gonzalez, Gonzalez, Wells, Zachary Fadem, Sara Senatore, Chipotle, — Pia Singh, JPMorgan downgrades, Steven Alexopoulos, Alexopoulos, John Melloy, Vivek Arya, Arya, Robyn Karnauskas, Karnauskas, Zepbound Organizations: CNBC, New York Community Bank, JPMorgan, Pharma, Truist Securities, Semiconductors, Bank of America, KeyBanc, Barclays, New York Community Bank JPMorgan, New, Community Bank, Financial Times, Bloomberg News, New York Community Bancorp, Battery Management Systems, Food and Drug Administration Locations: Wells Fargo, Tuesday's

☆ The 'zombie economy' is haunting the stock market and stoking uncertainty, strategist says
▼ + stars: | 2024-02-07 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

The "zombie economy" is haunting the stock market and stoking uncertainty, Canaccord Genuity's chief market strategist told Bloomberg. AdvertisementThe stock market has been jittery lately. One strategist says they've created a "zombie economy" that's contributed to volatility as interest rates have risen. "We kind of still have the zombie economy," Tony Dwyer, the chief market strategist at Canaccord Genuity, told Bloomberg on Wednesday. It's that uncertainty that is bleeding into the stock market.

Persons: Canaccord, —, they've, that's, Tony Dwyer, Genuity, It's, That's, Dwyer, haven't, Jerome Powell Organizations: Bloomberg, Service Locations: New York

☆ Stocks making the biggest moves midday: Roblox, Enphase Energy, Snap, Alibaba and more
▼ + stars: | 2024-02-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Adjusted earnings per share for the fourth quarter came in at 54 cents, slightly below the 55 cents expected from analysts polled by FactSet. Yum Brands — The restaurant stock added 3% despite Yum Brands' adjusted earnings and revenue miss for the fourth quarter. Adjusted earnings per share came in at 77 cents, topping the consensus estimate of 62 cents, according to FactSet. The company added about 300,000 net digital-only subscribers quarter over quarter, but advertising revenues came in below the company's guidance. Chipotle Mexican Grill — Shares added 8% a day after the fast-casual restaurant chain reported stronger-than-expected adjusted earnings and revenue.

Persons: Alessandro DiNello, Badri Kothandaraman, Alibaba, Amgen, Chipotle, Sonos, Walt Disney, Walt Disney's, Discovery, Fox, Alex Harring, Brian Evans, Sarah Min, Hakyung Kim Organizations: LSEG, New York Community Bank, Moody's Investors, New, Community, Enphase Energy, FactSet, Revenue, Yum Brands, KFC, Taco Bell, LSEG . Revenue, Leerink Partners, CVS, New York Times, Warner Bros, Discovery, Fox, Walt Disney's ESPN, Walt Disney, Disney, Cirrus Locations: LSEG ., Israel, Alibaba —, FactSet, FactSet .

Since most Americans last voted for Congress, thousands of people have been added to certain voting districts — and subtracted from others — under new political maps enacted following court rulings. Here's a look at how voting districts have changed — or could change — before the November elections and what affect that could have on the battle for control of Congress. Perhaps the most notable is Florida, where a trial judge in September ruled that U.S. House districts pushed by Republican Gov. Litigation over congressional districts also is lingering in Arkansas, South Carolina, Tennessee, Texas, Utah and Wisconsin. The reshaping of voting districts matters, but doesn't necessarily pre-determine the outcome of elections.

Persons: George Santos, Ron DeSantis, “, ”, Chris Warshaw, Warshaw, Jeffrey Wice Organizations: Republicans, GOP, George Santos of New, Supreme, Republican, Assembly, Democratic, New, New York Legislature, Republican Gov, Florida Supreme, George Washington University, Voters, New York Law, Redistricting Locations: November’s U.S, Alabama , Georgia, Louisiana, North Carolina . New York, New, George Santos of, George Santos of New York, U.S, Alabama, Georgia, North Carolina, New York, Florida, Arkansas , South Carolina , Tennessee , Texas , Utah, Wisconsin

☆ 10 cities where high-income Americans are moving
▼ + stars: | 2024-02-06 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +3 min

Spokane Valley, Washington is seeing the fastest growth in high-income households making at least $200,000 annually. The analysis found that just one Southern city made the top 10 for cities adding high-income households at the fastest rate between 2021 and 2022, while four cities in the northeast ranked in the top eight. The report notes that high-income households often have large impacts on local economies, which could impact housing markets in the long term. Spokane Valley, located in the eastern part of Washington, had an over 183% increase in high-income households, amounting to over 1,500 between 2021 and 2022. Evansville, Indiana increased by 150% during the time period, adding 816 high-income households.

Persons: — Organizations: Business, Allentown, U.S . News, Southwest, Bank of America, Massachusetts, Connecticut, Santa Clara, New Locations: Spokane Valley , Washington, Southern, Spokane Valley, Washington, California, Texas, Allentown , Pennsylvania, Philadelphia, Evansville , Indiana, South, Killeen , Texas, San Tan Valley , Arizona, Jackson , Mississippi, Palmdale , California, Southwest, West Coast, New England, Springfield , Massachusetts, New Haven , Connecticut, Manchester , New Hampshire, Sunnyvale, Santa, New York City

☆ I volunteered to help New York City track its homeless population. Here's what I learned.
▼ + stars: | 2024-02-04 | by ( Katie Balevic | ) www.businessinsider.com time to read: +6 min

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 hefty sum underscores the legal jeopardy Trump faces as he marches toward securing the 2024 Republican presidential nomination. The Trump campaign did not respond to a request for comment on the legal spending. Trump’s campaign paid Atlanta attorney Steven Sadow $1.5 million in the second half of 2023. Campaign money was also used to pay attorneys who have represented co-defendants and potential witnesses in the Trump cases. The New York attorney general’s case against Trump centers on his business financial statements.

Persons: — Donald Trump’s, Eli Bartov, Bartov, Arthur Engoron, Trump, Richard Briffault, ” Briffault, he’s, Alina Habba, Jean Carroll, Carroll, “, ” Trump, schemed, Chris Kise, Foley, Lardner, Kise, Steven Sadow, Sadow, Brand, Walt Nauta, He’d, Engoron, he’d Organizations: WASHINGTON, New York University, Trump’s, New, Associated Press, Columbia Law School, White, Trump, America, New York, Continental, Atlanta, Brand Woodward Law, Save America Locations: New York, New Jersey, Carroll, York, Largo, Florida, Georgia, New York City, Washington, Trump’s, Lago

And there’s a good chance that all three legal dramas see major movement next week. New York Attorney General Letitia James is seeking a staggering $370 million penalty from Trump. Trump is already siphoning a portion of his political donations to pay legal fees associated with the 91 criminal charges filed against him in four indictments. In 2023 alone, The New York Times reported , Trump spent roughly $50 million in donor money on legal bills and investigation-related expenses. The Best Cartoons on Donald Trump View All 280 ImagesIn December, the Colorado Supreme Court found Trump ineligible to hold office under the 14th Amendment of the Constitution.

Persons: Donald Trump, Judge Arthur Engoron, Trump, Engoron, Letitia James, E, Jean Caroll ., United States ”, “, –, ” Trump, Mitch McConnell, impeaching Trump Organizations: New York, Trump, Republican, New York Times, Donald Trump View, Colorado Supreme, United, Amicus, New, U.S ., Appeals, Circuit, Capitol, Justice Department, Republicans Locations: Washington, Colorado, United States, New York

NEW YORK (AP) — Manhattan prosecutors are weighing a potential perjury charge against Donald Trump’s former corporate finance chief in connection with testimony he gave in October at the ex-president’s New York civil fraud trial, two people familiar with the matter told the Associated Press. It wasn't clear what part of Weisselberg's testimony drew the scrutiny of prosecutors in the office of Manhattan District Attorney Alvin Bragg. Photos You Should See View All 45 ImagesWeisselberg served 100 days in jail last year for dodging taxes on $1.7 million in off-the-books compensation from the Trump Organization and is still on probation. Under that plea deal, Weisselberg was required to testify as a prosecution witness when the Trump Organization was put on trial for helping executives evade taxes. Prosecutors suggested that might bring new charges related to his involvement in securing surety bonds and property valuations for the Trump Organization, alleged conduct that is the subject of James' civil lawsuit.

Persons: Donald Trump’s, Allen Weisselberg, Trump, Attorney Alvin Bragg, Weisselberg, Letitia James ’, Bragg, James, “, minimis, ” Weisselberg, Louis Solomon, Forbes, perjured, “ Trump’s, Susan Necheles Organizations: president’s, Associated Press, Trump Organization, Attorney, The New York Times, New York, Trump, Trump Tower, Forbes, Benz, Prosecutors Locations: Manhattan, York, Florida, New, New York

Sales fell to $744 million in the second quarter, which company executives consider its most important quarter. That amounts to a 6% decline from a year ago and a whopping 34% fall from two years ago. New York-based Peloton lost 54 cents per share in the period and hasn't posted a quarterly per-share profit in three years. Peloton enjoyed incredible sales growth during the height of the coronavirus pandemic and its share price multiplied by more than five times in 2020 amid lockdowns. Last fall, Peloton and athletic wear maker Lululemon announced a five-year partnership with the interactive fitness company, becoming the exclusive digital fitness content provider for Lululemon, which became the primary athletic apparel partner to Peloton.

Persons: hasn't, Barry McCarthy, treadmills, John Foley, Lululemon Organizations: University of Michigan Locations: New York

☆ Epstein’s Longtime Accountant Sheds Light on Disgraced Financier’s Businesses
▼ + stars: | 2024-02-01 | by ( Matthew Goldstein | ) www.nytimes.com time to read: +1 min

His accountant for 14 years, Richard Kahn, said in a confidential deposition that he had learned about the worst of Mr. Epstein’s activities only after his death. Richard Kahn, who was Mr. Epstein’s accountant for 14 years, said in a confidential deposition that he had learned about the worst of Mr. Epstein’s activities only after his death, the people said. Mr. Epstein killed himself while being held in a federal jail on sex trafficking charges after his July 2019 arrest. Why the Deposition Testimony MattersThe deposition was taken in connection with a class-action lawsuit that accused JPMorgan Chase of having facilitated Mr. Epstein’s sex trafficking during the years he was a customer. JPMorgan agreed last year to pay $290 million to nearly 200 victims in a settlement.

Persons: Jeffrey Epstein, Richard Kahn, Jeffrey Epstein’s, Epstein, JPMorgan Chase, Mr, Kahn, Kahn’s Organizations: Mr, . New York, Offender, Associated Press, JPMorgan Locations: .

☆ Stocks making the biggest moves midday: Peloton, Honeywell, Norfolk Southern, Boot Barn and more
▼ + stars: | 2024-02-01 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Meanwhile, analysts polled by LSEG, formerly known as Refinitiv, forecast earnings of 81 cents per share and $4.34 billion in revenue. Peloton — Shares fell more than 23% on the back of the company's bleak outlook for the current quarter and full-year sales. Peloton is forecasting sales to come in between $700 million and $725 million for the quarter. Analysts polled by LSEG expected revenue of $9.70 billion. Adjusted earnings per share came in at $2.10 versus the $1.66 expected from analysts polled by StreetAccount.

Persons: Robinson, Nextracker, Wolfspeed, MaxLinear, Qorvo, TD Cowen, Gabe Daoud Jr, — CNBC's Pia Singh, Lisa Kailai Han, Jesse Pound, Hakyung Kim, Spencer Kimball, Scott Schnipper Organizations: LSEG, —, Honeywell, New York Community Bank, Regional Banking, Western Alliance, T Bank, Norfolk Southern, Ancora Holdings, Street Journal, Merck —, Merck, FactSet, StreetAccount, Revenue, Qualcomm, Citi

☆ Stocks making the biggest moves midday: Alphabet, Boeing, AMD, Microsoft, Paramount and more
▼ + stars: | 2024-01-31 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Alphabet — Shares fell 6.3% after the company posted disappointing fourth-quarter advertising revenue. Late Tuesday, Alphabet posted beats on both top and bottom lines, but its advertising revenue of $65.52 billion fell below analysts' forecast of $65.94 billion, per StreetAccount. Starbucks — Shares fell 0.5% after the coffee giant issued disappointing forward guidance due to a boycott in the U.S. and a weaker Chinese consumer. Adjusted earnings per share for the fourth quarter came in at $3.46 versus the $3.27 expected, per FactSet. Manhattan Associates — The supply chain software provider surged 8% after fourth-quarter adjusted earnings and revenue topped analysts' estimates, per FactSet.

Persons: Byron Allen, NYCB, Tesla, Elon Musk, Roth, Morgan Stanley, SoFi, Stryker, Genuity, —, Alex Harring, Samantha Subin, Sarah Min, Jesse Pound, Lisa Kailai Han, Michelle Fox, Pia Singh Organizations: Boeing, Paramount, AMD, Microsoft, Starbucks, New York Community Bancorp, Bank, Technologies, Rockwell, —, Wall Street, Revenue, Manhattan Associates Locations: U.S, Delaware, Georgia

☆ New York Community Bancorp, Winner in Last Year’s Crisis, Takes a Hit
▼ + stars: | 2024-01-31 | by ( Rob Copeland | More About Rob Copeland | ) www.nytimes.com time to read: +1 min

Less than a year ago, New York Community Bancorp looked like one of the big beneficiaries of a crisis among its peers when it swooped in to take over most of the assets of ailing Signature Bank and catapulted to over $100 billion in assets. Its stock plummeted 38 percent to a 25-year low, dragging down shares of other regional banks 6 percent on average. New York Community Bancorp tried to put a brave face on the news — an accompanying release included the headline “Record Results for 2023,” true inasmuch as the bank is now much larger than before the Signature acquisition — but analysts and investors quickly zeroed in the weaknesses. It was an uneasy reminder of last March’s tumult, when problems at Silicon Valley Bank spilled over into the industry, felling among others Signature, a bank known for its real estate, legal and cryptocurrency lending. New York Community Bancorp bought much of Signature out of federal receivership.

Organizations: New York Community Bancorp, Signature Bank, Bank Locations: Silicon

☆ 5 distinct legal questions looming over Donald Trump
▼ + stars: | 2024-01-30 | by ( Zachary Wolf | Analysis Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

CNN —While former President Donald Trump’s path through Republican primaries is clearing up, he faces looming unanswered questions in multiple different courts. Engoron had already ordered the dissolution of Trump’s New York real estate empire, which is on hold pending Trump’s appeal. The US Supreme Court has, for now, declined to take up the case, because justices wanted this particular appeals court panel to weigh in. Trump will remain on the ballot for Colorado’s primary pending the Supreme Court decision. While the situation is unlikely, at least for now, to kill the case against Trump, Willis’ position at the helm is very much in question.

Persons: Donald Trump’s, Arthur Engoron, Letitia James, Trump, Engoron, Jack Smith, Will Trump, Fani Willis, Willis ’, Willis, Scott McAfee, Jean Carroll, Carroll, that’s, ” Trump, “ Organizations: CNN, Trump, New York, Trump’s, US, Tuesday, Senate, New, Forbes, Bloomberg Locations: Trump’s, York, New York, Washington , DC, Colorado, Maine, Illinois, Georgia, Fulton County, Georgia’s

☆ Trump lashes out at financial monitor in business fraud case after she reports errors
▼ + stars: | 2024-01-29 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Donald Trump on Monday lashed out at the financial monitor overseeing the Trump Organization and urged a judge to fire her days after she reported a range of issues — and flagged a questionable $48 million loan — in the former president's New York civil business fraud case. New York Attorney General Letitia James has asked Engoron to order that Jones continue to monitor the Trump Organization for at least five years as part of his judgment in the case. Robert made that argument three days after Jones submitted a report to Engoron accusing the Trump Organization of providing incomplete, inconsistent or incorrect information about its financial disclosures. In a footnote in that report, Jones said she identified a loan between Trump himself and an entity related to Trump Chicago Tower that later turned out not to exist. She also seeks five-year bans with the same conditions for Donald Trump Jr. and Eric Trump, who took over the Trump Organization after their father became president in 2017.

Persons: Donald Trump, Barbara Jones, Trump, Arthur Engoron, Clifford Robert, Jones, Letitia James, Engoron, Robert, James, Donald Trump Jr, Eric Trump Organizations: Monday, Trump Organization, Manhattan, New York, Trump Chicago Tower, Trump Locations: York

☆ The office apocalypse will see a wave of buildings demolished or converted to residential, New York City real estate exec says
▼ + stars: | 2024-01-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The New York City property exec and veteran real estate broker pointed to potential trouble heading for the US office space, thanks to the plunging demand for office buildings since the pandemic, and poor lending conditions across the commercial real estate sector. AdvertisementExperts have been warning of trouble in the commercial real estate sector for the last year as credit conditions in the economy tighten. Many commercial real estate mortgages are financed at interest rates around 3.5%-4%. New York City alone has around 100 million square feet of empty office space, Knakal estimated. Office buildings, meanwhile, could soon double the price decline they saw in 2023, the real estate firm Cohen & Steers estimated.

Persons: —, Bob Knakal, Knakal, Banks, Cohen, Steers Organizations: Service, Business, New, CNBC, National Association of Realtors . New Locations: New York City, National Association of Realtors . New York City

In addition to his two losses in the Carroll cases, Trump faces civil penalties in a case in New York, where a judge has already determined that Trump inflated his net worth to win better financing terms. In both the New York and the second Carroll case, Trump has made theatrical appearances and remarks. The Best Cartoons on Donald Trump View All 272 ImagesIn the Carroll case, Trump stormed out of the courtroom during closing arguments and was chastised by the judge for interrupting while his own lawyer, Alina Habba, was speaking. The initial Carroll verdict came as something of a surprise. Haley earlier in the month said she had not "looked at" the Carroll case.

Persons: E, Jean Carroll –, Carroll, Donald Trump, Trump's tantrums, Trump, defaming Carroll, Roberta Kaplan, District Judge Lewis Kaplan, Hillary Clinton, Letitia James, Arthur Engoran, Jan, Joe Biden, Engoran, Alina Habba, Carroll –, Judge Kaplan, Kaplan, A.J, Delgado, Nikki Haley, Trump's, “ Donald Trump’s, ” Haley, Nachama Soloveichik, Haley, Biden, Witch Hunt Organizations: U.S, District, Trump, Democratic, Senate, Republicans, New, Donald Trump View, Carroll, Capitol, United Nations, Republican Party Locations: New York, New York , Florida, Georgia, Lago, Florida, York

Lamar Jackson, Christian McCaffrey and Dak Prescott are finalists for The Associated Press 2023 NFL Most Valuable Player and Offensive Player of the Year awards. Dolphins wide receiver Tyreek Hill and Cowboys wideout CeeDee Lamb are the other two finalists for Offensive Player of the Year. Jackson, the 2019 NFL MVP, threw for 3,678 yards and 24 touchdowns and also ran for 821 yards and five scores. Cowboys edge Micah Parsons and cornerback DaRon Bland, Raiders edge Maxx Crosby and Steelers edge T.J. Watt join Garrett as finalists for Defensive Player of the Year. Lions offensive coordinator Ben Johnson, Ravens defensive coordinator Mike Macdonald and offensive coordinator Todd Monken and Texans offensive coordinator Bobby Slowik also are finalists for Assistant Coach of the Year.

Persons: Lamar Jackson, Christian McCaffrey, Dak Prescott, Josh Allen, Brock Purdy, CeeDee Lamb, Jackson, McCaffrey, Purdy, Myles Garrett, Kevin Stefanski, Joe Flacco, Jim Schwartz, QB C.J ., Will Anderson Jr, Garrett Wilson, Sauce Gardner, Micah Parsons, DaRon Bland, Maxx, Watt, Garrett, Crosby, Parsons, Bland, Sam LaPorta, Jahmyr Gibbs, Nacua, Bijan Robinson, Jalen Carter, Kobie Turner, Joey Porter Jr, Devon Witherspoon, Anderson, Houston’s DeMeco, Detroit’s Dan Campbell, San, Kyle Shanahan, Baltimore’s John Harbaugh, Deshaun Watson, Ryans, Campbell, Harbaugh, Shanahan, Schwartz, Ben Johnson, Mike Macdonald, Todd Monken, Bobby Slowik, Baker Mayfield, Matthew Stafford, Tua Tagovailoa, Damar Hamlin, Rob Maaddi Organizations: Associated Press, 49ers, Dolphins, Cowboys, Baltimore Ravens, Houston, AP, Ravens, Kansas City Chiefs, AFC, Prescott, NFL, NFC, Green Bay, San, Detroit Lions, The Cleveland Browns, The Houston Texans, New York Jets, Texans, Browns, Baltimore, Raiders, Maxx Crosby, Steelers, Lions, Rams, Falcons, Eagles, Seahawks, Buccaneers, Bills, Flacco, Voters, Twitter Locations: Dallas, Green, San Francisco, QB C.J . Stroud, Stroud, Detroit

Today, remote work has declined from its levels of the pandemic but is still – depending on how broadly one measures it – three to four times as prevalent as it was in 2019. And remote work tends to be dominated by higher-educated employees, with nearly 40% of those holding advanced degrees hybrid or fully remote. In early January, LinkedIn’s Global State of Remote and Hybrid Work study found that at its peak, in April of 2022, the share of job postings that offered remote work reached 20.3%. The more enduring feature of remote work is now hybrid.”There are also substantial differences within industry and among countries. “You’re moving to where the housing is cheaper.”Not that it is all rosy when it comes to remote work.

Persons: ”, Kory Kantenga, Sandra Moran, Julia Pollak, Nick Bunker, Layla O’Kane, Lightcast, Morris Davis, Andra Ghent, Jesse Gregory, ” Goldman Sachs, Boyer, Brad Case, “ That’s, Software’s Moran Organizations: LinkedIn, Workforce Software, LinkedIn’s Global, Labor Statistics, North, “, Oxford University Press, Economic Studies, Rutgers University, Andra, University of Utah, University of Wisconsin, Ivory, Google, NASA, Middleburg Communities, Green Mountain Locations: U.S, Israel, Ghent, Real Estate, Santa Ana , California, LLC.org . New York, Huntsville , Alabama, Huntsville, Glendale , Arizona, Phoenix, Arlington , Texas, Dallas, Middleburg, San Francisco, New York, Charlotte, Raleigh , North Carolina, Orlando, Jacksonville , Florida, Houston, San Antonio , Texas, Florida, Texas, Vermont, Green Mountain State, California

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