New Yorker (June 10)
Now that a New York jury has convicted former President Trump of thirty-four felony counts, “the American people will decide to what extent they care.” But the verdict is hardly the only key to understanding the impact of a second Trump term. “Even the most summary assessment of Trump’s rhetoric, actions, and intentions makes clear that the election in November is a matter of emergency. To return an unstable and malevolent authoritarian to the White House risks wounding American democracy in ways that would likely take decades to repair.”
Tags: Actions, Authoritarian, Convicted, Election, Emergency, Felony counts, Intentions, Jury, Malevolent, New York, President, Rhetoric, Trump, U.S., Verdict, White House
Bloomberg (May 18)
“From New York to London to Tokyo, if there’s one similarity among the world’s equity markets it’s this: record highs. Of the world’s 20 largest stock markets, 14 have hit all-time highs recently…. Looming interest rate cuts, healthy economies and corporate earnings are driving the activity. And what’s more, there are plenty of potential drivers to keep the rally rolling, such as the $6 trillion sitting in money market funds, while risks remain scarce.”
Tags: $6 trillion, Corporate earnings, Equity markets, Healthy economies, Interest rate cuts, London, MMF, New York, Rally, Record highs, Risks, Stock markets, Tokyo
Financial Times (March 27)
“The price of cocoa surged past $10,000 a tonne for the first time on Tuesday, as a dizzying rise in prices caused by poor harvests in Africa accelerates. Cocoa futures traded as high as $10,080 in New York, more than double their price only two months ago, as traders warned a global shortage of cocoa beans would herald higher price tags for chocolate bars.”
Tags: Africa, Chocolate bars, Cocoa, Dizzying, Double, Futures, Higher, New York, Poor harvests, Price, Shortage, Surged, Traders
Wall Street Journal (February 7)
“Luxury retailers, flush with cash, are spending big on real estate in the world’s most expensive and exclusive shopping corridors” including New York’s Fifth Avenue, Avenue Montaigne in Paris, and London’s New Bond Street. The “shopping spree shows that retailers are using their considerable cash to free themselves from the control of landlords and plant their flags on streets where they want a long-term presence.”
Tags: Avenue Montaigne, Cash, Exclusive, Expensive, Fifth Avenue, Flush, Landlords, London, Luxury retailers, New Bond Street, New York, Paris, Real estate, Shopping corridors
Investment Week (July 31)
“British American Tobacco is resisting shareholder pressure to move its primary listing from London to New York.” Others haven’t. “The London Stock Exchange has seen a string of departures this year, as companies flee from cheap valuations towards the deeper investor pool the US market offers.”
Tags: BAT, Cheap valuations, Companies, Departures, Flee, Investor pool, London, LSE, New York, Primary listing, Resisting, Shareholder pressure, U.S.
Fortune (May 26)
“The pandemic spurred work-from-home era is decimating the office sector, with rising vacancy rates and declining property values.” Researchers at NYU and Columbia have revised their estimate of the negative impact upward. “They now see a 44% decline in New York City office values by 2029, and a nationwide value destruction, as they put it, of $506 billion in just a three-year period from 2019 to 2022.”
Tags: $506 billion, 2029, Columbia, New York, NYU, Office sector, Pandemic, Property values, Vacancy rates, Value destruction, Work-from-home
American Banker (March 20)
“After bank merger-and-acquisition activity slowed substantially in 2022, it could reach a standstill following the failures of Silicon Valley Bank in California and Signature Bank in New York.” Their “sudden demise… injected hefty doses of uncertainty into the financial system and raised doubts about the veracity of regulatory oversight.” Because they missed vulnerabilities, “bank supervisors are likely to further ramp up reviews of banks’ potential weaknesses,” which is likely to “extend to bank M&A.”
Tags: 2022, Bank, California, Doubts, Financial system, M&A, New York, Regulatory oversight, Signature Bank, Silicon Valley Bank, Standstill, Sudden, Uncertainty, Veracity
Investing.com (August 9)
“Inflation expectations among consumers in the U.S. have plunged, falling at the fastest rate ever in the history of the New York Federal Reserve’s monthly Survey of Consumer Expectations.” The July survey revealed “consumers expect inflation to rise 6.2% over the next year and 3.2% over the next three years,” down considerably from 6.8% and 3.6% in June’s survey.
Wall Street Journal (July 8)
“Big cities can’t get workers back to the office.” More than two years since Covid-19 first struck, “less than half the number of prepandemic office workers are returning to business districts consistently.” Despite numerous carrots and the occasional stick, “occupancy is especially low in cities like New York, where workers are the engine of local economies.”
Tags: Big cities, Business districts, Carrots, COVID-19, New York, Occupancy, Office, Prepandemic, Stick, Workers
San Francisco Chronicle (December 16)
While there have only been 10 omicron cases in Santa Clara, “officials have “found the highly contagious variant in all four of the county’s wastewater treatment facilities, encompassing most of the local population.” The CDC said the new variant now accounts for about 3% of all cases nationwide “with the highest—13%–in the New York-New Jersey area.”
Tags: CDC, Contagious, New Jersey, New York, Officials, Omicron, Santa Clara, Treatment facilities, Variant, Wastewater
