Author: News Room

As companies make a push to bring workers back to the office, office buildings built before the 1980s are going to face a reckoning, a new report from Moody’s says.Businesses are working hard to lure people back to the traditional workplace after three years, for many, of remote and hybrid work.  But a reluctance among the working population to fully embrace the return to work is prompting many companies, from Airbnb to Zillow, to offer employees the flexibility to work from anywhere. That spells trouble for commercial real estate, specifically office buildings, as tenants quit them. Coupled with debts coming…

Oil futures ended mixed on Wednesday, with U.S. global benchmark crude up modestly and U.S. prices posting a slight decline after four consecutive session gains. Prices this week had found support from expectations of tighter supplies on the heels of an OPEC+ decision over the weekend to cut oil production. On Wednesday, weak U.S. economic data fed concerns of an economic recession that would hurt energy demand, but government data showing weekly declines in domestic crude, gasoline and distillate supplies, was “far from recessionary,” according to one analyst. Price action West Texas Intermediate crude for May delivery CL.1, -0.98% CL00,…

After a few tranquil days over the long Easter weekend, this week will be anything but quiet for investors. A quirk of the calendar meant the stock market couldn’t react to the March jobs report on Friday. It’s just as well then that the data were in line with expectations. The U.S. economy added 236,000 jobs in March, a slowdown from the 311,000 created the previous month. The solid number, in light of weaker employment data earlier in the week, has tipped the scales in favor of another 25 basis-point hike in May–potentially the last of the rate-hike cycle. But…

The US State Department on Monday officially designated Wall Street Journal reporter Evan Gershkovich as wrongfully detained by Russia. “Today, Secretary Blinken made a determination that Evan Gershkovich is wrongfully detained by Russia,” State Department principal deputy spokesperson Vedant Patel said in a statement. The designation gives further backing to the assertions by the US government and the Wall Street Journal that the espionage charges against the reporter are baseless. It will empower the Biden administration to explore every avenue to try to secure Gershkovich’s release. His case will now be handled at the State Department through the Office of…

Twitter’s ex-CEO Parag Agrawal and two other former executives are suing the Elon Musk-owned social media platform for failing to cover more than $1mn in personal legal expenses, including those related to an investigation by the US Department of Justice.Agrawal, Twitter’s former general counsel Vijaya Gadde and Ned Segal, former chief financial officer, were fired by Musk when he acquired the platform for $44bn in October.The trio claim that the company has “refused to acknowledge its obligations and to remit payment of any invoices”, after they personally incurred “significant expenses” responding to lawsuits and investigations related to their former positions.According…

There are a lot of negative narratives in the world right now. I don’t just mean in financial markets. I mean everywhere. One of the lessons I’ve learned in nearly 3 decades of investing is that when the narratives get hot and heavy in one direction, it’s time to start thinking about looking in the other direction. A scary narrative out there right now is that we are about to have a banking crisis. I think it’s more of a transition to higher rates and real estate value resets. And, I think that the Federal Reserve and FDIC are handling…

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Over the weekend, the cryptocurrency market experienced low volatility as Bitcoin continued to trade around $28,000.With prices moving sideways and trading volume increasingly declining, heightened volatility may be on the horizon.Hence, people looking to invest in the cryptocurrency market should closely monitor upcoming events and key indicators that could affect the selection of the best cryptos to buy now.The recent slowdown in employment and wage growth, while seemingly unfavorable for the economy, has led some investors to believe that the Federal Reserve may adopt a more cautious stance on interest rate hikes.In light of this, the release of the Consumer…

Democratic lawmakers sent letters to 14 of the largest depositors at Silicon Valley Bank, seeking details about the lender’s “unusually cozy” relationships with its well-heeled clients. Senator Elizabeth Warren of Massachusetts and Representative Alexandria Ocasio-Cortez of New York sent the letters Sunday to executives at Roku, Roblox, Circle and BlockFi, among others, raising questions about their “white glove” treatment by SVB. Silicon Valley Bank was known to cater to the tech startup world. But Warren and Ocasio-Cortez, citing media reports, raised concerns about whether the bank’s relationships went beyond industry standards and potentially hastened its collapse last month. SVB reportedly…

SHENZHEN, China — Electric vehicle giant BYD is banking on new driver-assist technology to smooth out car rides and get the edge on its EV competition. BYD, backed by Warren Buffett’s Berkshire Hathaway, announced Monday a new technological system for stabilizing car rides through rugged terrain, sharp turns and even shallow water. The shock absorption tech is set to be a feature of the company’s recently launched premium brand Yangwang.”Traditionally, luxury cars were determined by brand and history. For luxury new energy vehicles, it’s a matter of what tech and products,” BYD founder Wang Chuanfu said in Mandarin at a…