Median rents in Manhattan hit a new record in January as a strong job market and limited supply of apartments lifted prices. The median rental price rose 15% to $4,097 from the year-earlier month — the highest ever in January, according to a report from Douglas Elliman and Miller Samuel. The average rent in Manhattan
Credit Suisse has reported its biggest annual loss since the 2008 financial crisis, laying bare the scale of the challenge the bank faces in restoring its fortunes. The lender on Thursday reported a SFr1.4bn ($1.5bn) loss for the fourth quarter, as investment banking revenues slumped and clients pulled money from the group’s wealth management business.
Michael Demissie, the head of digital assets at Bank of New York Mellon (BNY Mellon) is adamant that the cryptocurrency market crash in 2022 won’t waver institutional interest in digital assets. At a conference run by Afore Consulting, Demissie said Feb. 8 that the digital asset industry is “here to stay” as institutional investors have
choja | E+ | Getty Images The solar technology company Nextracker priced its initial public offering just above its stated $20 to $23 per share range, people with knowledge of the transaction told CNBC. The order book for Fremont, California-based Nextracker was “well subscribed,” meaning demand allowed the company to exceed expectations on pricing, sources
Municipals were weaker in secondary trading, with the largest cuts seen on the short end, while a $1.2 billion deal from the New York City Transitional Finance Authority took focus in the primary. U.S. Treasuries were better, and equities ended in the red. The three-year muni-UST ratio was at 54%, the five-year at 55%, the
Local Wisconsin governments would receive a 20% share of the state’s sales taxes for a $576 million funding infusion and the ability — with voter support — to raise the sales tax under a plan Gov. Tony Evers will include in his proposed biennial budget next week. Evers initially made the pledge on revamping of
In this week’s newsletter, read about how Yuga Labs settled a lawsuit with one of the creators of a copycat nonfungible token (NFT) collection. Learn how the Bitcoin Ordinals creator fixed the first instance of porn uploaded to the protocol and how YouTuber Coffeezilla tricked MMA fighter Dillon Danis into promoting fake NFTs. In other
In this article LUMN GOOGL UA FTNT Follow your favorite stocksCREATE FREE ACCOUNT Rafael Henrique | Lightrocket | Getty Images Check out the companies making headlines in midday trading Wednesday: Lumen Technologies — Shares fell 22.5% after the cloud network data company reported a fourth-quarter loss of about $3.1 billion. Its earnings guidance for the
The United States Federal Reserve Chairman Jerome Powell said on Feb. 7 that the “disinflationary process, the process of getting inflation down,” has started but it is still in its very early stages. He cautioned that strong data would be met with more rate hikes. Though the comments are mixed, they triggered buying in the
A banking van for the Lower East Side People’s Federal Credit Union parked on the curb of West Tremont Avenue in The Bronx. Rebecca Picciotto | CNBC NEW YORK – Parked on the curb of West Tremont Avenue in the Bronx, amid a chain of sedans and minivans, there is sometimes a bank on wheels.
Ukrainian president Volodymyr Zelenskyy has arrived on a surprise visit to the UK on Wednesday as Britain unveils plans to provide Kyiv with more weaponry and assistance — including training for Nato-standard jets. Zelenskyy, who was greeted by UK prime minister Rishi Sunak on landing at Stansted airport, will address parliament in only his second
File transfer service giant Wetransfer announced Monday it is collaborating with blockchain platform Minima to offer a non-fungible token (NFT) minting product in March. Wetransfer’s announcement details that users leveraging the Minima cooperative will be able to mint NFTs from a mobile device or computer. Wetransfer and Minima Partnership Aims to Bring NFT Minting to
Municipals were weaker once more, while U.S. Treasury yields rose out long, and equities ended up. Triple-A benchmark yields were cut up to seven basis points, depending on the scale, pushing the one-year above 2.50%. The last time the one-year was above 2.50% was Jan. 10. The three-year muni-UST ratio was at 53%, the five-year
Citigroup cut three positions from its municipal ranks last week, including that of veteran public finance banker Thomas Coomes, who had co-led the firm’s Midwest region which is based out of Chicago. The bank also let go Daniel Daley and Marc Livolsi in the New York office, according to multiple sources. Coomes, a managing director,
Avalanche (AVAX) witnessed a meteoric start to 2023, gaining 98% in 30 days, and traders are now curious about whether the rally will extend throughout February. AVAX’s year-to-date gains for 2023 have outpaced those of Bitcoin (BTC) and Ether (ETH). Recent reasons for AVAX’s rally can be attributed to an Amazon partnership announcement on Jan. 11.
Authorities in Turkey and Syria on Tuesday staged a massive effort to find survivors and help victims after a devastating earthquake left almost 5,000 people dead, but fraught road and weather conditions threatened to snarl rescuers’ attempts to stem a worsening crisis. Authorities were pulling people out of the rubble in freezing temperatures in south-eastern
A confidential United Nations report has revealed North Korean hackers stole more crypto assets in 2022 than in any other year . The UN report, seen by Reuters, was reportedly submitted to a 15-member North Korea sanctions committee last week. It found North Korean-linked hackers were responsible for between $630 million and more than $1
Federal Reserve Bank of Atlanta President Raphael Bostic said January’s strong jobs report raises the possibility that the central bank will need to increase interest rates to a higher peak than policymakers had previously expected. If a stronger-than-expected economy persists, “It’ll probably mean we have to do a little more work,” Bostic told Bloomberg News
Municipals were weaker to start the week, while U.S. Treasuries sold off 10 years and in, and equities ended down ahead of a rebounding primary calendar. Triple-A benchmarks were cut three to 12 basis points, while UST yields rose 10 to 18 basis points 10 years and in. The three-year muni-UST ratio was at 53%,
Nontoxic living is becoming an important cultural trend, with #nontoxicliving having more than 200 million views on TikTok. While there are many facets of this lifestyle choice, one of the smartest ways to reduce toxins in the home is to choose nontoxic furniture whenever possible. While toxins in furniture aren’t a reason to re-decorate immediately,