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
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Another “gap that traps” is tripping the switches for more downside in big tech.
Westend61 | Getty Images More than half of restaurant operators surveyed by the National Restaurant Association say that business conditions are worse now than three months ago. The trade group surveyed 4,000 operators between Sept. 7 and Sept. 15 and is using the results to lobby against President Joe Biden’s plan to raise the corporate
In this article CAG LLY BA DLTR People walk by a Dollar Tree store on December 11, 2018 in the Brooklyn borough of New York City. Spencer Platt | Getty Images News | Getty Images Check out the companies making headlines in midday trading. Dollar Tree — Dollar Tree surged 16% after the discount retailer
In this article NTRS Yie-Hsin Hung, New York Life Investment Management CEO CNBC Inflation will persist and add risk to the market, but one asset class could be a long-term ride, Yie-Hsin Hung, chief executive of New York Life Investment Management, said Wednesday. “Interest rates and inflation are going to persist at levels above what
d3sign | Moment | Getty Images Hiring young talent is imperative for financial advisors. But finding so-called “next-generation” advisors can be a challenge — largely because young college graduates are often unaware of financial advice as a career path, according to firms on CNBC’s annual FA 100 ranking. These top firms have found ways to
Jodi Jacobson | E+ | Getty Images House Democrats proposed a change to the estate tax that would lead to more households having to pay up each year. But just how many people actually pay the tax, and how might the proposal change that share? The short answers: Few people pay it now, and the
A for sale sign shows the home as being “under contract” in Washington, DC, November 19, 2020. Saul Loeb | AFP | Getty Images Signed contracts to buy existing homes increased 8.1% month to month in August, according to the National Association of Realtors, as buyers encountered higher inventory and slightly more favorable prices. Analysts
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As Congress considers President Biden’s proposal to tax unrealized capital gains at death, the history of previous efforts suggests it faces a perilous road ahead. Lawmakers must resolve tricky design and implementation details that derailed past attempts to change how capital gains are treated when assets are passed from one generation to the next. Under
Comstock | Stockbyte | Getty Images Two of the three men criminally charged with a brazen scheme to hijack dormant shell companies and fraudulently pump up their stock shares are now set to plead guilty in the case in October, court records reveal. One of the defendants, Christopher James Rajkaran of Queens, New York, and
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
In this article MA The MasterCard logo on a smartphone arranged in Saint Thomas, Virgin Islands. Gabby Jones | Bloomberg | Getty Images Mastercard is jumping into the competitive installment loan space by allowing banks and start-ups to ramp up their own “buy now, pay later” offers. The credit card giant announced a new program
Rep. Tom Suozzi, D-N.Y., speaks during a news conference announcing the State and Local Taxes (SALT) Caucus outside the U.S. Capitol on April 15, 2021. Sarah Silbiger | Bloomberg | Getty Images Rep. Tom Suozzi, D-N.Y., is expecting an agreement this week for changes to the $10,000 limit on the federal deduction for state and
In this article LCID Electric vehicle start-up Lucid on Sept. 28, 2021 said production of its first cars for customers has started at its factory in in Casa Grande, Arizona. Lucid Electric vehicle start-up Lucid on Tuesday said production of its first cars for customers is underway, with deliveries scheduled to begin late next month.
U.S. stock futures were mostly flat Tuesday night after the Nasdaq plummeted in its worst day since March as a spike in bond yields sent stocks tumbling. Dow Jones Industrial Average futures rose 78 points, or 0.23%. S&P 500 and Nasdaq 100 futures added 0.16% and 0.08%, respectively. Shares of the semiconductor company Micron fell
Elizabeth Holmes, founder of Theranos Inc., and husband Billy Evans leave federal court in San Jose, California, on Wednesday, Sept. 22, 2021. David Paul Morris | Bloomberg | Getty Images SAN JOSE, CALIF – In the first dramatic showdown at the Elizabeth Holmes’ trial, defense attorney Lance Wade aggressively questioned the company’s former lab director about
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.
Stacey Vanek Smith Photo: Sylvie Rosokoff Why aren’t things getting better for women? Stacey Vanek Smith couldn’t stop asking that question as she looked over the grim statistics: Eighty percent of CEOs are still men, corporate boards are more than 80% male, two-thirds of federal judges are male and 98% of venture capital goes to