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Brian Johnson, the White House nominee to become permanent director of the Consumer Financial Protection Bureau (CFPB), told U.S. senators on Thursday that he would keep an “open mind” about bureau staffing levels but repeatedly declined to distance himself from Acting Director Russell Vought’s call to shut the agency down. The former deputy director of…
Sales of new-construction homes bumped up a bit in June, as median sales prices slid and gave buyers an affordability boost. Contract signings for newly built homes hit a seasonally adjusted annual rate of 628,000 in June, 1.5% up from May, according to data released by the U.S. Census Bureau and Department of Housing and Urban Development Friday. That’s…
Key insight: Key players in the prediction market space discussed their differing views in an open roundtable event hosted by the Council on Foreign Relations. What’s at stake: Traditional financial institutions that have expressed interest in prediction markets could be exposed to regulatory uncertainty and market risk. Forward look: Mulvaney said that he doesn’t expect…
A Florida resident unlawfully hijacked a low-income housing cooperative in Williamsburg, according to a Tuesday ruling. New York County Supreme Court Justice Verna L. Saunders barred Jessica Vargas from managing or attempting to sell the Housing Development Fund Corporation co-op at 13 Scholes Street. New York Attorney General Letitia James filed a lawsuit against Vargas…
According to the Census Bureau, new home sales were at a seasonally adjusted annual rate of 628,000 in June. This represents a 1.6% increase from May’s upwardly revised rate of 618,000 but a 5.6% drop from the previous year. The latest reading was higher than the forecast of 609,000. Key Takeaways New home sales rose…
New York City apartment developers are building fewer studio apartments as they seek to make an unpopular housing incentive work for their projects. Bisnow/Ciara Long Phipps Houses’ Kelly Biscuso, Stantec’s Daniel Cohen, Fogarty Finger’s Harshad Pillai, Fairstead’s Seth Hoffman, New York City Housing Partnership’s Jamie Smarr and Adler & Stachenfeld’s Alvin Schein onstage at Bisnow’s…
The health of the U.S. middle market is usually measured in familiar terms: revenue growth, hiring, capital spending and credit conditions. Those indicators matter. But they increasingly describe the outcome of resilience rather than its source. In June, 26.7% of middle-market companies were operating at a high level of uncertainty, according to PYMNTS Intelligence. For…
Occidental Petroleum (OXY -0.31%), the oil and gas giant more commonly known as Oxy, set a 52-week high of $67.45 per share on March 31. That year-to-date gain of nearly 60% was mainly fueled by the Middle East conflict’s impact on global oil prices. But after hitting a four-year high of $112.25 per barrel in…
The space sector is changing almost at the speed of a high-powered rocket. Among the numerous developments in the business recently, one in particular could make quite a difference: Rocket Lab‘s (RKLB -3.80%) $8 billion deal for satellite telecom company Iridium Communications (IRDM -1.72%). Rocket Lab is touting the acquisition as transformational. While there’s some…
Wise’s shares fell by 9% on Friday morning after the US Office of the Comptroller of the Currency (OCC) rejected its application for a national trust bank charter, delivering a severe setback to the cross-border payments firm in its primary growth market. As major fintech firms, including Revolut, have sought national trust bank charters in…