Traders work on the floor of the New York Stock Exchange. NYSE For most of the eight months since the Covid crash culminated, the stock market’s recovery has fed off rampant doubt, disbelief and cognitive dissonance toward resurgent asset prices set against a severely damaged economy. No more. Wall Street’s rally has now entered the
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Raleigh North Carolina is among the ten highest-ranked markets “for overall real estate … [+] prospects.” getty Urban Land Institute and PwC’s latest real estate trends forecast is news. ULI and PwC’s 2021 Emerging Trends in Real Estate® offers deep dives and insights into all sectors of the U.S. and Canadian real estate markets. It’s
Erik Hayden is the Founder and Managing Partner of Urban Catalyst. getty The temptation to pause new commercial real estate projects is strong when demand seems weak. Believe me, I get it. I have seven projects in the pre-construction phase in an opportunity zone in downtown San Jose, California. But we must keep building today for
The Wall Street Bull (The Charging Bull) is seen during Covid-19 pandemic in Lower Manhattan, New York City, United States on May 26, 2020. Tayfun Coskun | Anadolu Agency | Getty Images Stocks skyrocketed and bond yields surged as investors bet Pfizer’s Covid-19 vaccine will help the broader economy recover and revive cyclicals and other
As the third quarter ends, Wednesday’s indicators offered positive news: the Chicago Business Barometer hit its highest level since December 2018, an “impressive” ADP employment report, soaring sales of pending homes, and two reads of manufacturing in the midwest suggesting expansion. The Chicago Business Barometer gained to 62.4 in September from 51.2 in August. The
General view of WeWork Weihai Road flagship is seen on April 12, 2018 in Shanghai, China. World’s leading co-working space company WeWork will acquire China-based rival naked Hub for 400 million U.S. dollars. (Photo by Jackal Pan/Visual China Group via Getty Images) VCG | Getty Images LONDON — Office space provider WeWork has sold a
Kenny Kane is the Chief Operating Officer at FIRMSPACE. getty A recent Gallup poll found that 41% of Americans working from home would prefer to return to the workplace. While this group is in the minority, it still represents hundreds of thousands of professionals, and as someone who creates office space for a living, I understand
New York City Mayor Bill de Blasio issued an executive order Tuesday that aims to improve the city’s use of minority- and women-owned business enterprises. “Our city works best when everyone — regardless of race, gender or ethnicity — has the resources they need to participate in our economy,” de Blasio said. “With these programs,
Martin Braithwaite #19 of Barcelona during the Barcelona V Real Sociedad, La Liga regular season match at Estadio Camp Nou on March 7th 2020 in Barcelona, Spain. Tim Clayton | Corbis | Getty Images International soccer star Martin Braithwaite and his business partner Philip Michael are on a mission to convert 100,000 Black women and
The Federal Reserve’s short-term municipal note program is “open today” to states and local governments struggling with financial woes during the pandemic, though it was reiterated that the program is a last resort. During a Government Finance Officers Association roundtable Monday, Kent Hiteshew, who was recently hired by the Fed to help with municipal markets,
As the COVID-19 pandemic continues to extend its grip on the globe — infecting more than 1.41 million Americans (over 4.44 million globally) — executives must navigate their organizations through uncharted territory, with the possibility that the virus may not disappear any time soon. This is forcing executives to make big, lasting decisions with few
Hundreds of millions of dollars of in Paycheck Protection Plan emergency funding has been claimed by large, publicly traded companies, new research published by Morgan Stanley shows. In fact, the U.S. government has allocated at least $243.4 million of the total $349 billion to publicly traded companies, the firm said. The PPP was designed to
Buying votes is a big no-no in traditional democracies, but on the world’s eighth-largest blockchain it’s become an accepted way of doing business. A new service makes it easier for EOS block producers, the nodes elected by holders of the cryptocurrency to validate transactions on the network, to share their block rewards with those who
Kinugawa Matignon, 8th arr. Taillevent, 8th arr. Drouant, 2nd arr. Laurent, 8th arr. JJ Restaurant, 8th arr. Epicure and 114 Fauborg at Le Bristol hotel, 8th arr. Eric Fréchon, the three-Michelin-star chef, remembers a time in the 1980s and 1990s when a business lunch in Paris was practically an all-day affair. Speaking from Le Bristol
It was January 2002, and Rudy Giuliani had just left City Hall after two terms as New York’s mayor. He was an American hero and a global celebrity, saluted even by the Queen, for his resolute response to the September 11 terror attacks. Time Magazine’s “Man of the Year” for 2001 seemed destined for the White
Market Moves Stocks closed slightly higher today among large-cap stock indexes. The S&P 500 (SPX), the Nasdaq 100 (NDX), and the Dow Jones Industrial Average (DJX) all lifted toward new highs after the Fed decision left rates unchanged today. The Russell 2000 (RUT) small-cap index was slightly below yesterday’s change, and the Russell Microcap index
Every week, we wrote ads. Depending on how well you were doing as an agent, you got either one, two, … [+] or three ads. Getty When did “advertising” morph into “marketing?” And precisely how well is either working for real estate in 2019? When I entered the residential brokerage business in the fall of
FT subscribers can click here to receive FirstFT every day by email. President Sebastián Piñera announced on Wednesday that Chile would no longer host next month’s summit of leaders from the Asia-Pacific region, disrupting plans by Donald Trump and Xi Jinping to sign a trade war truce at the gathering. The Chilean president was forced to cancel the
EL PASO, TEXAS – NOVEMBER 16: A ‘Stay Home’ sign is taped to a driver’s vehicle as she passes … [+] Christmas lights during a car caravan of nurses calling for people to remain home amid a surge of COVID-19 cases in El Paso on November 16, 2020 in El Paso, Texas. Texas surpassed 20,000
As a child growing up in the Democratic Republic of Congo, Gloire Ndongala didn’t know much about the wider world, with one exception: he adored US basketball star Michael Jordan. “Think about it, in the Congo we had hardly any technology back then, and we still heard of Michael Jordan,” Ndongala says. The Chicago Bulls
Oregon lawmakers approved $800 million in COVID-19 aid and wildfire relief for communities decimated by the fire during a special session held Monday. Senate Bill 5731 included $600 million to allow the state to continue to fund critical pandemic-related programs into the first few months of 2021 and to provide support for Oregonians impacted by
Consumer confidence unexpectedly plunged in December, although the expectations index improved, while the rest of Tuesday’s economic data came in around expectations. The consumer confidence index fell in December to 88.6 from a downwardly revised 92.9 in November, first reported as 96.1, The Conference Board reported Tuesday. The present situation sank to 90.3 from an
Take a look at some of the biggest movers in the premarket: Alphabet (GOOGL) – Multiple Google services, including Gmail and YouTube, suffered a widespread outage this morning for an undetermined reason. “Service has already been restored for some users, and we expect a resolution for all users in the near future,” Google said in
Asset and capital allocations often exacerbate systemic racism across the financial services in some surprising ways. Innovators in the fields of asset management, banking, impact investing and pensions suggest there are also many ways to disrupt the cycle. Shifting the flow of capital could help reduce or eliminate institutional barriers and racial discrimination. Featured guests:
David is the Founder and CEO of Realized, a firm whose mission is to improve lives through innovative investment property wealth solutions. getty Anyone involved in any type of commercial real estate endeavor has by now heard of the qualified opportunity zone program. For those who haven’t, the qualified opportunity zone (QOZ) came out of the
UNIONDALE, NEW YORK – MAY 27: An aerial view of a construction worker roofing an apartment home on … [+] May 27, 2020 in Uniondale, New York. The residential housing project by Garden City developers Engel Burman will provide approximately 150 construction jobs, help address a dire housing shortage, and support the County by retaining
Donald Trump said on Monday his administration would begin co-operating with Joe Biden’s transition team, bowing to Republican pressure to start the transfer of power even as he vowed to continue contesting his election loss. The president’s statement, which stopped short of a formal concession, came after a Michigan board certified the state’s election results
Top-rated municipal bonds firmed on Wednesday, with yields falling by as much as three basis points on the long end while New Jersey general obligation bonds traded up and Massachusetts upsized its tax-exempt and taxable deal, lowering yields in a repricing. Since Nov. 12, when the market began to firm after a brief sell-off, yields
Zell in 2019. Getty Images Sam Zell is one of the legendary investors of his generation, known for his love of dealmaking, gold chains, and telling it like it is. The title of his 2017 autobiography borrows his favorite phrase: “Am I Being Too Subtle?” Real estate has long been Zell’s dominion, and he scored
While the U.S. retail sales number for October rose, analysts are concerned consumers will not be able to boost the economy during another wave of coronavirus infections, especially without help from the government. Retail sales climbed 0.3% in October, after a downwardly revised 1.6% gain in September, first reported as a 1.9% increase, the Commerce