Mortgage applications fall 0.4% as rates see little change
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Schroders H1 adjusted operating profit
Gross inflows totalled £69.3bn, against £68.2bn in H1 2025. Credit: Piotr Swat/ Shutterstock.com. Schroders has posted adjusted operating profit of £459.8m ($618.3m) for the first half of 2026 (H1 2026), compared with £316m in the same period a year earlier. Pre-tax profit came in at £396.8m, up from £196.9m in H1 2025, after accounting for…
Mamdani’s pied-à-terre gambit forges ahead, despite backlash
Mayor Zohran Mamdani’s administration is seeing the light at the end of its chaotic rollout of a pied-à-terre tax. After weathering rebukes from lawmakers and a legal challenge from homeowners represented by former Deputy Mayor Randy Mastro, an appeals court greenlit implementation of the levy to continue apace until oral arguments take place on Aug….
House Dems seek extended comment period on Trump CRA rewrite
Key insight: House Democrats are asking regulators to extend the Community Reinvestment Act proposal’s comment period to at least 120 days, saying the sweeping rewrite needs more time for public feedback. Supporting data: The proposal would raise asset thresholds for compliance, narrow lending and service activities considered in CRA exams and make it easier for…
BitMEX Co-Founder Arthur Hayes Says An AI Credit Strain Could Force A Rescue And Lift Bitcoin And Crypto Markets
Arthur Hayes, chief investment officer of the crypto fund Maelstrom and chief executive of Flop Labs, is arguing that the artificial-intelligence buildout is less a durable earnings story than a credit boom whose eventual strain could force official liquidity back into digital assets. In his September 21 essay “Safety First,” published on Crypto Trader Digest,…
What Smart People Say About Calls From AI Leaders to Slow It All Down
It took the possibility of species annihilation, but AI leaders did something remarkable this weekend: They reached a consensus. After ex-Anthropic engineer Jacob Coxon’s warnings about a looming AI armageddon lit a firestorm among techies and politicians alike, the leaders of the most advanced AI labs came to a tentative agreement — largely via posts…
Watermark Capital Moves Forward With School-to-Resi Conversion in Crown Heights – Commercial Observer
The 42-unit residential conversion of a former Roman Catholic school at 560 Sterling Place in Crown Heights, Brooklyn, is well underway. Watermark Capital Group’s redevelopment project at the corner of Classon Avenue and Sterling Place is going ahead at a former school campus owned by its neighbor, St. Teresa of Avila Roman Catholic Church. SEE…
