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Contained in the $250 million penthouse on Billionaires’ Row
A penthouse atop the world’s tallest residential building – listed for $250 million – marks the biggest test for the ultra-luxury real estate market at a time of falling sales and rising economic uncertainty. The three-story mega home in Central Park Tower, which spans more than 17,500 square feet, is the most expensive property in…
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Brex is dumping small enterprise clients as Silicon Valley adjusts to new actuality
Henrique Dubugras, Co-Founder and CEO of Brex speaks onstage during TechCrunch Disrupt San Francisco 2019 at the Moscone Convention Center on October 02, 2019 in San Francisco, California. Steve Jennings | Getty Images Brex, the Silicon Valley lender to startups, is shedding tens of thousands of small business clients to focus on larger, venture-backed clients,…
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What the Fed’s massive rate of interest hikes imply for Principal Road economic system
Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, July 27, 2022. Elizabeth Frantz | Reuters The Federal Reserve’s decision to raise interest rates by 0.75%, or 75 basis points, for the third-consecutive time at the Federal Open Market Committee…
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Ford inventory suffers worst day since 2011 after value warning
Ford F-150 Lightning at the 2022 New York Auto Show. Scott Mill | CNBC DETROIT — Ford Motor stock endured its worst day in more than 11 years after the automaker prereleased part of its third-quarter earnings report and warned investors of an unexpected $1 billion in supplier costs. Shares of Ford closed Tuesday at…
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Microsoft is discovering that Gen Z is redefining the thought of work stress
Inga Where | photo library | Getty Images For decades, Microsoft was associated with a traditional definition of office work, long hours in front of a computer, but now the corporate giant is finding that Gen Z entrepreneurs are disrupting notions about the hectic workplace and the traditional 9-5 day. Many Gen Z college graduates…
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Spanish-language streaming service Canela.TV launches authentic broadcasts
An up-and-coming Spanish-language streamer takes a big step toward original content. Canela Media will present the daily entertainment news show “¡Ponle Canela!” on October 10th on its Canela.TV streaming platform. “Secretos De Villanas,” a reality series that brings some well-known telenovela actresses under one roof to reveal secrets about their lives and careers, will premiere…
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Maine insurance coverage company faces on-line backlash after racist Juneteenth signal
Google Earth view of the Reed Agency in Millinocket, Maine. Google Earth An insurance agency in Millinocket, Maine, is facing backlash online after a photo circulated on Facebook Monday of a sign on the store’s door that read, “June – it’s whatever… We’re closed.” The picture of the sign at Harry E. Reed Insurance Agency,…
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House Depot’s clients have been resilient regardless of the turmoil, says the CEO
Home Depot’s business has remained strong even as turbulent economic conditions weigh on consumers’ wallets, CEO Ted Decker told CNBC’s Jim Cramer on Friday. His comments were in response to Cramer’s question as to whether he had seen the same signs of a recession that FedEx CEO Raj Subramaniam warned about in Mad Money on…
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Retail Earnings and Shopper Spending
Investors will learn more about the ongoing impact of the pandemic on the consumer economy as retailers prepare to release quarterly earnings reports, CNBC’s Jim Cramer said Friday. The industry will have its time in the Wall Street spotlight after the Commerce Department announced on Friday that retail sales were flat in April, up 10.7%…
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Forgot Klara? Buyers depend on “purchase now, pay later”
As the hype surrounding the “buy now, pay later” trend subsides, some investors are betting they’ve found the next big thing. Buy now, pay later Companies like Klarna and Affirm, which allow shoppers to defer payments to a later date or split purchases into interest-free installments, are under immense pressure as consumers become more cautious…
