It’s the year of the penthouse in Manhattan, with the upper-crust shelling out record prices for the highest floors of the city’s luxury towers. More than 500 New York City penthouses are likely to sell this year, which would be the largest number since 2007, according to the Corcoran Group. Penthouse 90 at 35 Hudson
Municipals were slightly weaker outside of five years Wednesday, with triple-A benchmarks cutting levels by a basis point or two, after four days of a correction to higher yields not seen since February and March of this year. U.S. Treasuries pulled back from Tuesday’s losses earlier in the morning, but yields rose into the afternoon
Manufacturing activity in China suffered its first official contraction since the beginning of the coronavirus pandemic as widespread power shortages compounded a loss of momentum across the country’s economy. China’s manufacturing purchasing managers’ index, an official gauge of factory activity, was 49.6 in September, dropping below the 50-point threshold that separates monthly contraction from expansion
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Plans to increase the commercial paper authorization for Los Angeles wastewater projects advanced this week. The city council’s budget and finance committee approved a request Monday to increase the city’s commercial paper program to $400 million from $250 million to support $2.2 billion in planned wastewater system projects. City Administrative Officer Matt Szabo submitted the
Bitcoin (BTC) trudged toward $43,000 on Wednesday, Sept. 29, as a “macro predicament” kept bulls on their toes. BTC in yet another dip below $41,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD ranging slightly higher after a fresh $40,000 retest overnight. The pair had shown what could be underlying strength after multiple probes
Traders on the floor of the New York Stock Exchange, with Blend signage, July 16, 2021. Source: NYSE Strategists see more selling ahead after stocks sold off Tuesday, led downward by tech and large cap growth names. A sharp jump in interest rates over the last several sessions stung the market, particularly the growth names.
Traders work on the floor of the New York Stock Exchange (NYSE), September 21, 2021. Brendan McDermid | Reuters This is a very tricky moment for the markets. The market is in the middle of another rise in interest rates, which is causing traders and investors to move a lot of stocks around. Political dysfunction
In this article LCID MU SHW Micron Technology headquarters in Biose, Idaho, March 28, 2021. Jeremy Erickson | Bloomberg | Getty Images Check out the companies making headlines after the bell Tuesday: Sherwin-Williams — The paint company saw its stock fall 3% in extended trading after the company lowered its third-quarter sales guidance. “The persistent
A recent New York case underscored just how easily an exchange of email messages can create a binding contract. Though the dispute involved a litigation settlement evidenced in an exchange of emails, the same principles would apply in real estate contracts or any other area of commerce that involves written agreements. New York’s procedural rules
In this article ABNB Airbnb CEO Brian Chesky attends the Cannes Lions on June 20, 2016, in Cannes, France. Richard Bord | Getty Images Airbnb announced Thursday that it is planning to provide temporary housing to an additional 20,000 Afghan refugees, bringing the total number up to 40,000. Last month, the charitable arm of the
Tarrant County, Texas, will be authorized to issue $400 million of transportation bonds if voters approve the proposal Nov. 2. The bond issue by the fast-growing county that includes Fort Worth and its booming suburbs would be its first for transportation since 2006. Proposition A splits the $400 million into two categories. Half of the
Europeans are leaving their houses to go shopping, eat out, travel and visit cinemas as much as they did before the pandemic, in a sign of returning consumer confidence which suggests that the eurozone’s economic rebound remains intact, for now. Despite a slew of worrying economic news — from high energy bills that threaten household
Cardano (ADA) reached a major milestone in its roadmap on Sep. 13 as its blockchain successfully launched Plutus-powered smart contracts as a part of the Alonzo hard fork. The Alonzo hard fork has been highly anticipated in the Cardano community as well as the cryptocurrency sphere at large. The smart contract functionality is meant to
Municipals were weaker again on Monday as the aftermath of Friday’s selloff continued to target the 10-year range of the yield curve amid the imminent arrival of more than $11 billion of new deals in the last week of the quarter. The high-grade scale saw cuts of as much as four basis points in the
The year 2020 may well go down as the year when blockchain technology and cryptocurrencies, in particular, gained mainstream recognition. The restrictions on movement, as well as the widespread fear of catching a virus, forced many to look for alternative ways of making payments or sending remittances. This search for an alternative inevitably led many
In this article WFC Charles Scharf, chief executive officer of Wells Fargo & Co., listens during a House Financial Services Committee hearing in Washington, D.C., U.S., on Tuesday, March 10, 2020. Andrew Harrer | Bloomberg | Getty Images Wells Fargo paid $37 million to settle a government lawsuit accusing the bank of defrauding hundreds of
An employee brings a television to a customer’s car at a Best Buy store in Orlando, Florida. Paul Hennessy | SOPA Images | LightRocket | Getty Images Check out the companies making headlines in midday trading. Energy stocks – Energy stocks led the S&P 500 on Monday as oil prices climbed amid supply concerns driven
Crypto exchange Bitfinex completed a highly consequential transaction today when sending $100,000 of the stablecoin Tether (USDT) to the layer-2 subsidiary platform DeversiFi. For reasons unknown, the exchange paid 7,676 ETH, equivalent to $23.7 million, marking quite possibly the largest gas fee ever-recorded on the Ethereum blockchain. According to blockchain data from EtherScan, the deposit transaction
Alex Lange has always found himself at the intersection of technology and real estate, and as the industry continues to shift and consolidate, the CEO of Forbes Global Properties believes technology will play an even greater role. Lange came to Forbes Global Properties last December with over two decades of experience in real estate technology.
A home flipper surveys a property in Phoenix, Arizona. Joshua Lott | Bloomberg | Getty Images Home flipping has never been easy, no matter how much fun TV shows like “Flip or Flop” make it out to be. It’s been even harder lately, due to low supply, high prices and a run on housing triggered
WASHINGTON — Robert Kaplan, the president of the Federal Reserve Bank of Dallas, announced that he would step down next week, just hours after Boston Fed President Eric Rosengren said he would resign. Kaplan said Monday afternoon he wanted “to eliminate any distractions” at the Fed after it was revealed that he had engaged in
Two top Fed officials on Monday warned that failing to raise the US debt ceiling would have catastrophic consequences, hours before Republicans in the Senate were set to block a bill that would increase the borrowing limit and stave off a government shutdown. John Williams, the president of the Federal Reserve Bank of New York, said
California Gov. Gavin Newsom signed 24 bills that allocate $15 billion to further the state’s efforts to combat climate change, drought and wildfires. The total includes additional funding agreed to by the Legislature after the $261.4 billion budget was passed by the constitutional deadline and signed by the governor in July, but also some funding
Tesla CEO Elon Musk gestures as he visits the construction site of Tesla’s Gigafactory in Gruenheide near Berlin, Germany, August 13, 2021. Patrick Pleul | Reuters Though the market has been volatile, analysts are spotting opportunities for upside among select companies. Tipranks is able to cut through the market noise by aggregating data to show
In this article UAA COST NKE ROKU COIN HOOD Check out the companies making headlines before the bell: Robinhood (HOOD), Coinbase (COIN) — Shares of the retail trading app and cryptocurrency exchange fell in premarket trading after China signaled that it was intensifying its crackdown on crypto. The country’s central bank said Friday that all
A new stablecoin is arriving on the Cardano blockchain to provide a tool for decentralized finance (DeFi) operations and avoid transaction fees. Cardano’s payment gateway provider Coti will be the official issuer of Djed, a new DeFi-focused stablecoin for the Cardano network, Cardano founder Charles Hoskinson and Coti CEO Shahaf Bar-Geffen announced Sept. 26 at
Bungalow 5 is one of the top furniture brands that isn’t on the tip of everyone’s tongue. That’s because it is one of the few that has chosen not to sell directly to consumers. Still, Bungalow 5 has been incredibly successful, celebrating twenty years of business in 2021. While this is a different approach to
In this article JSWSTEEL-IN JINDALSTEL-IN SAIL-IN TATASTEEL-IN Indian metal companies are unlikely to be seriously affected by the crisis unfolding at Chinese property developer Evergrande, according to financial services firm Motilal Oswal. China plays an important role in determining global commodity prices, including that of metals. The country’s real estate sector is a major consumer
The uncertainties sparked by China’s blanket ban on crypto trading have taken a downturn as homegrown crypto exchanges such as Houbi take proactive measures to protect and return existing investments residing on the mainland. Speaking to Cointelegraph in this regard, Du Jun, co-founder of Huobi Group, said that the crypto exchange wants to ensure the
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