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Melissa Cohn, regional vice president at William Raveis Mortgage in New York, told MPA the pattern was familiar. “Remember when the mansion tax started, and everyone said people aren’t going to buy, and this is a problem, and it’s going to ruin the real estate market? And nothing really happened,” Cohn said. “The mass exodus never…
The 440,000-square-foot space at Downtown Brooklyn’s 422 Fulton Street — the largest block of retail space currently available in New York City and the former site of a Macy’s department store — will become BKX, a five-floor retail and amusement destination that’s being described by developers as a “next-generation cultural and commercial hub,” Commercial Observer…
Testing the discount Premier David Eby has defended the plan as opportunistic buying in a weak market. “Ultimately we’ll be buying below the cost of construction. No developers will be profiting from this,” Eby said. He said the program would not work for units in the City of Vancouver, where prices remain too high, but…
Capital One’s projected credit card losses jumped in its first Federal Reserve’s stress test since acquiring Discover, highlighting the enlarged lender’s heavier exposure to unsecured consumer credit. Projected credit card losses at the bank reached $55.7 billion under the severely adverse scenario in the 2026 Dodd-Frank Act stress test (DFAST), up $20.7 billion, or 59%,…
Seven of 11 Canadian markets recorded positive absorption in the period, with overall net absorption reaching 1.2 million square feet, led by Toronto, Calgary, and Montreal, each of which absorbed more than 300,000 square feet in the quarter. “For the first time since before the pandemic, office leasing momentum remained positive for a fourth consecutive…
News release Today marks a major milestone in the modernisation of the UK’s payments landscape, with the Retail Payments Infrastructure Board (RPIB) launching a consultation on the future design of the UK’s next-generation retail payments infrastructure. The new infrastructure will provide a secure foundation for innovation, greater choice and more seamless payments, while supporting existing…
Dr Douglas Williams is a veteran senior executive and board member for several biotech companies. During his time at Biogen, ZymoGenetics, Amgen Immunex and Seattle Genetics, he was involved in the development of several multibillion-dollar treatments, including Enbrel, Tecfidera and Spinraza. Matthew Partridge: The time and cost of clinical trials has been seen as one…
The Securities and Exchange Commission and the Commodity Futures Trading Commission today issued a joint request for public comment on potential opportunities to further update, clarify, and harmonize certain derivatives product definitions and interpretive issues. The request for comment is intended to support the Commissions’ ongoing evaluation of whether current regulatory definitions, interpretations, and jurisdictional…
New research finds major purchases such as buying property, job hunting, and tax time are emerging as prime targets for fraudsters, with younger Australians facing the highest risk despite their digital confidence. Australians are increasingly falling victim to scams during major life events such as buying property, searching for work, and lodging tax returns, according…
It’s All Debt to Me, by Professor Kate Elengold, is a newly available article sure to be of interest to many Credit Slips readers. Check out the abstract and read the paper by clicking on this link, but in the meantime, an observation from the article’s conclusion, coupled with the article’s graphic of a set…