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☆ AI is getting very popular among students and teachers, very quickly
▼ + stars: | 2024-06-11 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +7 min

Khan recently told CNBC that its AI tool will expand from 65,000 students to one million students next year. It also recently announced that Microsoft is paying so that AI can be offered to teachers across the U.S. free of charge. In fact, teachers were the only demographic polled where year-over-year favorability declined, though a majority (59%) still have a positive view of AI chatbots. Minority groups are adopting AI for education at higher rates, including the teachers and parents who are using AI to help children. Black and Hispanic K-12 students and undergraduates were more likely to use AI for school.

Persons: Hyoung Chang, ChatGPT, Ethan Mollick, Sal Khan, Khan, CNBC's, Sam Altman, Greg Brockman, zeroed, Mollick, It's, Nadia, Alan Turing's Organizations: Getty, Microsoft, Apple, Impact Research, Walton Family Foundation, Learning, University of Pennsylvania's Wharton School, Khan Academy, CNBC, Teachers Locations: Denver, Newark , New, U.S

Gantry cranes stand in the APM Terminals yard at the Port of Mobile in Mobile, Alabama, U.S., on Thursday, July 20, 2017. This is another example of USMX members unilaterally circumventing our coast-wide Master Contract. A Maersk spokesman said in an emailed statement that APM Terminals remains "in full compliance with the ILA/USMX Master Contract." During a speech before union members that month, Daggett vowed the ILA would not take a back seat to anyone. The ILA indicated in its release that it will not meet with USMX until the "auto gate" issue is resolved.

Persons: Harold J, Daggett Organizations: APM, Port, Longshoremen's Association, United States Maritime Alliance, ILA, APM Terminals, Maersk, USMX, MSC Locations: Mobile, Mobile , Alabama, U.S, East Coast, Gulf Coast, Port of Mobile , Alabama, North America, Daggett, West Coast

☆ Alphabet's new CFO was in the middle of the GLP-1 boom. Now she's onto generative AI
▼ + stars: | 2024-06-06 | by ( Jennifer Elias | ) www.cnbc.com time to read: +10 min

Alphabet announced on Wednesday that Eli Lilly Chief Financial Officer Anat Ashkenazi will be its new CFO after an almost year-long search. Shares of Eli Lilly have soared 90% in the past year and are trading at a record. When she joined Eli Lilly in 2001, she came in through the company's new venture capital division, which was co-founded by her then-spouse Ron Laufer. Fastest growth in decadesFounded in 1876, Eli Lilly has long been one of the major U.S. pharmaceutical companies. But the last couple years have marked a period of historic growth for Eli Lilly due to the exploding popularity of GLP-1s.

Persons: Anat Ashkenazi, Eli Lilly Eli Lilly Alphabet's, Ruth Porat, Eli Lilly, Ashkenazi, it's, Eli Lilly's, David Ricks, Morgan Stanley, Sundar Pichai, Hollie Adams, Ron Laufer, John Smiley, Eli, It's, Trump, Eli Lilly's Covid, we're, Askhenazi, OpenAI's, Larry Page, Sergey Brin, CNBC's Eric Rosenbaum, Toby Lyles Organizations: San, San Francisco Bay Area, Google, Economic, Bloomberg, Getty, CNBC, Tel Aviv University, Hebrew University, U.S . Food, Drug, U.S . Department of Justice, FDA, Reuters, Employees, NBC Locations: U.S, Indiana, San Francisco Bay, Davos, Switzerland, Israel, biopharma, North Carolina, Germany, New Jersey

☆ House Speaker Mike Johnson says Trump right on trade and immigration, but won't commit to policy
▼ + stars: | 2024-06-04 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +6 min

But as the speaker of the House and the leader of my party in the Congress, I'm going to be very careful about what I commit to on the front end." But I certainly have great respect for what President Trump did," Johnson said during the CNBC appearance. But on immigration, another top issue for Trump, Johnson again pushed back against committing to policy. I mean, I think that's right. Because of redistricting and gerrymandering, we're probably going to have small majorities on one side or the other for the foreseeable future.

Persons: Mike Johnson, Donald Trump, CNBC's Eamon Javers, Johnson, I'm, reflexively, Trump, Joe Biden, Javers, Jay Powell Johnson, Jerome Powell, Powell, they're, It's, we're, who's Organizations: CNBC, Summit, Washington , D.C, Trump, Reagan Republican, Federal Reserve, Capitol, Republican, Committee, Biden Locations: Manhattan, New York, Washington ,, lockstep, China, .

The information for the following product(s) has been collected independently by Business Insider: Wyndham Rewards® Earner Plus Card, Wyndham Rewards® Earner Card, Wyndham Rewards® Earner Business Card, Capital One Spark Miles for Business†, Capital One Spark Miles Select for Business†. Introduction to Wyndham RewardsWhile it's often overshadowed by bigger and flashier hotel loyalty programs, Wyndham Rewards deserves some attention, too. How to join Wyndham Rewards and start earning points and elite statusTravelers can enroll in Wyndham Rewards for free, and automatically receive free Wi-Fi during stays. Earning Wyndham pointsThere are myriad ways to accumulate Wyndham points, beginning with the most obvious option: Hotel stays through Wyndham. Wyndham Rewards frequently asked questionsHow can I earn Wyndham Rewards points without staying at a hotel?

Persons: Wyndham, Howard Johnson, gofree Wyndham, Cardholders, cardholders, Wyndham Timeshare, you'll, it's, Wyndham Rewards, redemptions, Maui Oceanfront, Redemptions, Eric Rosen Eric Rosen, Condé Organizations: Business, Wyndham Rewards, Wyndham, Business †, Vacasa, Read, Wyndham Grand, Ramada, Marriott Bonvoy, Hilton, Diamond, Base, Caesars Entertainment, Walmart, Target, Avis, Caesars, Staples, Lowes, Apple, Marathon Gas, Wyndham Hotels, Club Wyndham, Caesars Rewards, Costco, National Parks Conservation Association, National Geographic, Bloomberg Locations: AmericInn, La, Travelodge, North America, Belize, Costa Rica, Wyndham, Paris, Las Vegas, Macy's, Grubhub, Waikiki, Oahu, Kona, Hai Villas, Kauai, Chevron, Los Angeles, Australia, Kenya, Laos

☆ Microsoft, Khan Academy provide free AI assistant for all educators in US
▼ + stars: | 2024-05-21 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

Microsoft is partnering with tutoring organization Khan Academy to provide a generative AI assistant to all teachers in the U.S. for free. Khanmigo for Teachers, which helps teachers prepare lessons for class, is free to all educators in the U.S. as of Tuesday, with the financial support of Microsoft. Microsoft and Khan Academy are also planning to provide more AI-powered math tutoring to students through a new open-source small language model from Microsoft's Phi-3 AI technology. The relationship between the tech giant and education nonprofit will also feed back into Microsoft's Copilot AI, with more Khan Academy content added, and Khan content brought into Microsoft Teams for Education, an existing free communication app for students and teachers. Microsoft co-founder Bill Gates recently recommended Khan's new book on AI in education.

Persons: Sal Khan, Sam Altman, Greg Brockman, zeroed, Khan, Nadia, Alan Turing's, Khanmigo, Bill Gates, Gates Organizations: Microsoft, Academy, Khan Academy, CNBC, Khan, CNBC's Technology, Phi, Microsoft Teams, Education Locations: U.S

☆ A half-million school buses across US could become an EV battery powerhouse feeding the grid
▼ + stars: | 2024-05-15 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

The company's goal is to add 10,000 bidirectional EV school buses across the U.S. with 300 gigawatt hours of energy available to power grids each year. In effect, instead of the one-way charge into the vehicle, the school buses will be able to send their battery power back to the grid through Zum charging infrastructure. The roughly 500,000 school buses are mostly diesel, contributing to emissions. Ram Ambatipudi, senior vice president of business development at EV Connect, which provides EV charging solutions, said the school bus model is one of the most promising in the area of using EV battery storage in a bidirectional nature. "The low-hanging fruit from what I've seen is the school bus model," Ambatipudi said.

Persons: Ritu Narayan, Ram Ambatipudi, Ambatipudi, It's Organizations: San, San Francisco Unified, Los Angeles Unified, Oakland Unified, EV Connect, Ford Locations: California, San Francisco, Oakland, California , Colorado , Connecticut , Illinois, Maryland , Massachusetts , Missouri , Nebraska , Pennsylvania, Tennessee , Texas, Washington , Utah, Virginia, U.S

☆ Former Boston Fed Pres. Rosengren: Biden's fiscal policies have contributed to the resilient economy
▼ + stars: | 2024-05-13 | 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 EmailFormer Boston Fed Pres. Rosengren: Biden's fiscal policies have contributed to the resilient economyFormer Boston Fed President Eric Rosengren joins 'Squawk Box' to discuss the state of the economy, the Fed's inflation fight, interest rate outlook, strength of the job market, and more.

Persons: Eric Rosengren Organizations: Former Boston Fed

☆ Half of American workers support a ban on talking politics in the office
▼ + stars: | 2024-04-23 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +2 min

Office politics have always been a point of frustration for workers, but now it's politics in the office that's getting to many American workers. In an era during which more workers have felt emboldened to challenge bosses over politics — with the recent Google worker protests and arrests a prime example — just under half of American workers polled by CNBC and SurveyMonkey say they would support a ban on political conversations at work. Younger workers show less hesitancy toward political discussions, with 41% of Gen Z workers saying they would choose to bar any political discussions at work. That's lower than millennial workers (46%), Gen X workers (52%), and boomers (49%). The CNBC | SurveyMonkey online poll was conducted April 3-5 among a national sample of 5,993 workers in the United States.

Persons: Lara Belonogoff Organizations: Google, CNBC, SurveyMonkey, Survey, Columbia University Locations: Google's San Francisco, Gaza, San Francisco , California, United States, Israel

☆ Former Boston Fed President Eric Rosengren: Expect the core PCE index to continue trending downward
▼ + stars: | 2024-04-22 | 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 EmailFormer Boston Fed President Eric Rosengren: Expect the core PCE index to continue trending downwardFormer Boston Fed President Eric Rosengren joins 'Squawk Box' to discuss the Fed's inflation fight, state of the U.S. economy, interest rate path outlook, and more.

Persons: Eric Rosengren Organizations: Former Boston Fed, Boston Fed Locations: U.S

☆ A 'deeply misguided' political belief is weakening the economy, says Secretary of Commerce Gina Raimondo
▼ + stars: | 2024-04-18 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

"Child care is core to enabling women to work," she said. She explained that if she stayed in her career, her entire post-tax pay would have gone to child care, and all of the child care providers in her area were waitlisted. I didn't really go through this, so how many people are really thinking child care is an issue? "If you want a strong economy, women have to participate and in order for that to happen, we need strong child care," she said. Raimondo noted that half of Americans live in a "child care desert," with not enough services available at a cost that is affordable.

Persons: Gina Raimondo, Joe Biden, Raimondo, —, CNBC's Sara Eisen, Jessica Chang, Chang, CNBC's Julia Boorstin, We've, it's Organizations: Semiconductors, America, White, Capitol, U.S, Samsung, CNBC's, Changemakers, U.S . Army, CNBC Changemakers, Boston Consulting Group, U.S . Chamber of Commerce, Commerce Department Locations: WASHINGTON, DC, Washington ,, Rhode, U.S, Texas, Korean, New York City, Korea

☆ Decline in average hourly earnings is positive for rate cuts, says Fmr. Boston Fed President
▼ + stars: | 2024-04-05 | 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 EmailDecline in average hourly earnings is positive for rate cuts, says Fmr. Boston Fed PresidentEric Rosengren, Former Boston Fed president, joins 'Closing Bell Overtime' to discuss the March jobs report and its impact on Fed policy moving forward.

Persons: Eric Rosengren Organizations: Boston Fed

☆ EV charging for the U.S. freight trucking market is starting to scale
▼ + stars: | 2024-03-21 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

Einride plans to open many EV charging stations for freight trucking on the West and East coasts, though California is the only state in which there are any EV freight charging stations of scale today. Voltera, which develops, owns and operates EV infrastructure, said the site was permitted, built, electrified and operational in under 18 months. "In the world of charging infrastructure, that's pretty remarkable," its CEO Matt Horton said in a statement. One of the first EV charging stations of scale for freight trucks is opening near the major ports of Los Angeles and Long Beach, California, as the trucking market takes some limited, but significant steps to build the infrastructure required for a long-term transition to EV trucking and net-zero shipping. Additional EV charging projects at ports in New York and New Jersey, as well as the Pacific Northwest, are planned.

Persons: NFI, Matt Horton, Robert Falck, Einride, Moller, Erik Neandross, —, Neandross Organizations: EV, West, Volvo, Southern California Edison, Maersk, CNBC, Pepsi, Walmart, U.S, California Air Resources Board, Department of Energy, Environmental Protection Agency, EPA Locations: East, California, Lynwood, America, Southern California, Ontario , California, U.S, Sweden, Einride, Los Angeles, Long Beach , California, Government, New York, New Jersey, Pacific Northwest, Shanghai, Chicago

☆ WeightWatchers CEO just sent an internal memo to employees as stock crashes, amid debt concerns, Oprah exit
▼ + stars: | 2024-03-14 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +6 min

But since then WW shares have suffered heavy selling, dropping to a new 52-week low on Thursday. The stock, due to its debt load and short interest, as well as the general anxiety about the impact of the new weight loss drugs, is subject to heightened volatility. In the memo, Sistani told employees she wanted "to take a moment to address some of the breathless media coverage." WW shares closed at $1.87 on Thursday. It noted that WW was among companies from the weight loss industry involved in the TV event.

Persons: Oprah Winfrey, Sistani, Eli Lilly, Sima Sistani, Guggenheim, Oprah, Winfrey Organizations: CNBC, Nordisk, Guggenheim Partners, Guggenheim, WeightWatchers Clinic, FDA, WeightWatchers, National Museum of, ABC

☆ Top CFOs are as bullish on the Dow and as dovish on the Fed as they've been in a long time: CNBC survey
▼ + stars: | 2024-03-13 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +2 min

That's according to the CNBC CFO Council Survey for the first quarter, which shows a dramatic year-over-year change in the view from CFOs about the Federal Reserve's inflation battle. The percentage of CFOs who think the Fed will be able to achieve a soft landing has reached a five-quarter high, at 48%. According to the Q1 survey, the largest percentage of CFO respondents (44%) do not expect a rate cut until September. In the Q1 CFO survey, equal groups of just under 25% of CFO respondents think the cuts will begin in June or July. Despite CFOs expecting a slower moving Fed than traders, the latest quarterly view represents an increase in dovish expectations.

Persons: CFOs Organizations: CNBC, Survey, CPI Locations: U.S, CFOs

☆ Former Boston Fed Pres. Eric Rosengren: The Fed should be 'forecast dependent', not data dependent
▼ + stars: | 2024-03-12 | 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 EmailFormer Boston Fed Pres. Eric Rosengren: The Fed should be 'forecast dependent', not data dependentFormer Boston Fed President Eric Rosengren joins 'Squawk Box' to discuss the February CPI inflation data, what it means for the Fed's interest rate outlook, and more.

Persons: Former Boston Fed Pres, Eric Rosengren Organizations: Former Boston Fed, Boston Fed

☆ Thinking about taking new weight loss drugs? These are the big health risk decisions that will follow
▼ + stars: | 2024-02-28 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +6 min

In this article NOVO.B-DKLLYWWGWW Follow your favorite stocks CREATE FREE ACCOUNTAn injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City, U.S., December 11, 2023. But will Americans trust the most iconic brand in the legacy weight-loss business to guide them into its future? "Big pharma was coming for weight loss, and if they didn't have a clinical angle, they would have run the risk of becoming an irrelevant company." "This is a new, incredibly powerful and effective class of pharmaceuticals that a lot of people will find help improve their health." watch nowRisks of overreliance on obesity drugs The risk is real that providers may use the medications and "forget about lifestyle," said John Batsis, an associate professor and nutrition expert at the University of North Carolina Chapel Hill's school of public health.

Persons: Eli Lilly’s, Brendan Mcdermid, Eli Lilly, —, Sima Sistani —, Sistani, Alex Fuhrman, Hallum, Fuhrman, Davidson, Linda Bolton Weiser, I've, Geoff Cook, Cook, John Batsis, Batsis Organizations: Reuters, Novo Nordisk, CNBC, Craig, pharma, University of North, University of North Carolina Chapel Locations: New York City, U.S, Herbalife, University of North Carolina

☆ Bond rates will probably come down, but not dramatically, says Fmr. Boston Fed President
▼ + stars: | 2024-02-16 | 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 EmailBond rates will probably come down, but not dramatically, says Fmr. Boston Fed PresidentEric Rosengren, Former Boston Fed president, joins 'Closing Bell Overtime' to talk the FOMC's next move, what's in store for the bond market, the state of the economy and more.

Persons: Eric Rosengren Organizations: Boston Fed

The state Supreme Court's brief order Tuesday shutting down the suit said legislators have fulfilled promises of annual increases in aid to the state's 286 local school districts as outlined in a 2019 law. But closing the case gives the Legislature more leeway on school funding issues in the short term. Educators who feel legislators aren't providing enough money or distributing it fairly enough were able to take their complaints directly to the state Supreme Court while the case was open. Four school districts sued the state in 2010, and the Supreme Court issued seven rulings from 2010 to 2019. The first six told lawmakers that they needed to increase spending or distribute the money more fairly or both.

Persons: backtracked, Vic Miller, Eric Rosen, ” Leah Fliter, Laura Kelly, Kelly, “, Dan Hawkins, Sen, Molly Baumgardner, Kris Kobach, Kobach, ” Kobach, Alan Rupe, ” Organizations: Republican, GOP, Republicans, Kansas House, Kansas Association of School, Democratic Gov, Wichita Republican Locations: TOPEKA, Kan, Kansas, —, Wichita, Kansas City

☆ Hewlett Packard Enterprise tops the 2024 JUST 100 list with market-leading worker benefits
▼ + stars: | 2024-02-05 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

Antonio Neri, CEO, Hewlett Packard Enterprise, at the NYSE, Oct. 19, 2023 Source: NYSETechnology stocks have taken back the No. 1 spot in the JUST 100, an annual ranking of large public companies on issues of key importance to the American public, with Hewlett Packard Enterprise topping last year's No. Career advancement opportunities, worker training and development, benefits and retention are other issues which helped push HPE and other companies higher in the 2024 JUST 100 rankings. All of these issues, Whittaker said, "cluster all around the questions of 'How good am I as an employer?'" Whittaker said that's also the case with the key worker issues that are the most heavily weighted in the rankings.

Persons: Antonio Neri, HPE, Martin Whittaker, Paul Tudor Jones, It's, it's, Whittaker, Kristin Major, we've, Russell, Major, that's Organizations: Hewlett Packard Enterprise, NYSE, NYSE Technology, of America, Capital, Just, Just Capital, Apple, Microsoft, Citigroup, Elevance, Devices, Micron Technology

(Both men already hold sizable amounts of Alibaba stock.) Alibaba itself bought back $9.5 billion worth of stock last year, reducing its share count by over 3 percent. The stock purchases will probably bring attention back to Ma, a former English teacher who helped start Alibaba as an e-commerce platform. Ma, who hasn’t held a management role at Alibaba or Ant in years but remains a lifetime partner in the Alibaba Partnership, now largely focuses on Bill Gates-style philanthropy. And she’s expected to take swipes at Trump’s economic record as president.

Persons: Tsai, Ma, Alibaba, Ant, hasn’t, Bill Gates, Nikki Haley, Donald Trump, Eric Rosengren, Robert Kaplan, Kaplan, Rosengren, Archer, Daniels, Vikram Luthar, Scott Stuber, Spike Lee, Martin Scorsese, Jane Campion, Stuber, Ted Sarandos, Netflix’s, Bela Bajaria, Biden’s, Janet Yellen, Lael Brainard, they’re, Biden, ” Ray Fair Organizations: Pool Management, Alibaba, Brooklyn Nets, New York Liberty, Nets, Boston Fed, Dallas Fed, Republican, Biden, Yale, Times Locations: U.S, Hong Kong, China, Ma, Beijing, ’, Paris, New Hampshire, Dixville

☆ Watchdog report is critical of former Fed officials in stock trading controversy
▼ + stars: | 2024-01-22 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

A watchdog review into market trading from two former high-ranking Federal Reserve officials criticizes their actions but does not accuse either of doing anything illegal. Revelations showed that some Fed officials engaged in market trading at a time when they also were considering important and delicate policy matters in the early days of the Covid pandemic in 2020. The report concludes that their actions resulted in conflicts of interest that raised issues over impartiality and the proper conduct of central bank officials. On Kaplan, the report states that the OIG "did not find that his trading activities violated laws, rules, regulations, or policies related to trading activities as investigated by our office." Since the controversy, the Fed has revamped its trading rules and now prohibits officials from owning stocks, bonds and cryptocurrencies.

Persons: Robert Kaplan, Eric Rosengren, — Kaplan, Jerome Powell, Richard Clarida, Raphael Bostic, Clarida, Kaplan Organizations: Eccles Federal, Federal, Fed's, Dallas, Atlanta Fed, Fed, Kaplan, CNBC, Federal Reserve, Dallas Fed Locations: Washington , DC, Boston, U.S

☆ For Microsoft and OpenAI, after a year in the 'hype cycle,' the Copilot corporate spending boom is just getting started
▼ + stars: | 2023-12-20 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +9 min

While another third (32%) said they have not made the spending decision, only 13% said they would not be acquiring similar gen AI capabilities. Microsoft has pointed to customers including Visa, BP, Honda and Pfizer using Copilot, and professional services firm partners on Copilot AI including Accenture, EY, KPMG, and PwC. And even amid the hype, it's important to keep in mind that as gen AI spending grows, it is still dwarfed by companies' cybersecurity budget needs. That means roughly $5 will be spent on security for every dollar spent on gen AI. But it's growing, and for now at least, when it comes to the billions in gen AI spending, Microsoft is in the pole position.

Persons: Dan Ives, Google Bard, Satya Nadella, Sam Altman, Altman, Jason Wong, Wong, Joe Atkinson, That's, Copilot, It's, Gartner, it's, Will, John Lovelock Organizations: Microsoft, Wedbush Securities, " Enterprises, Google, CNBC Technology, Survey, Gartner, Visa, BP, Honda, Pfizer, Accenture, EY, KPMG, CNBC, CNBC TEC, SAP, Adobe, Amazon Web, Meta, SharePoint Locations: San Francisco , California, U.S, Copilot, Salesforce, that's

☆ A signal from big companies they think workers are losing control of the job market
▼ + stars: | 2023-11-28 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +7 min

Unemployment has ticked up, wage growth continues to decline, and the "quits rate" has leveled off from its pandemic surge. The CFO view of the labor market also filters through to their broader view of the economy and markets, which has changed in other considerable ways over the four quarters of surveying by CNBC this year. Almost a year later, the market has rallied on the conviction that inflation has been vanquished and the hikes are finished. But the CFO view of when inflation returns to 2% keeps getting pushed farther out into the future. That's more hawkish than the market, which currently is betting the Fed may start cutting by May.

Persons: CFOs, that's, it's, Jackson Organizations: CNBC, Stone, Nasdaq, PPI, Inflation, Walmart, Dow Jones, Dow, Fed Locations: Detroit, Hollywood, CFOs, it's

☆ 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

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