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Lower oil prices generally lead to lower consumer fuel prices … but not always. There is a risk that models are overly tied to oil prices and that’s leading to expectations of lower consumer and business prices but if you’ve seen the fuel pumps lately, you’d know that’s not the case. The large gap has…
Apple has sued OpenAI and two of its employees, alleging that they stole trade secrets from Apple to support OpenAI’s development of devices. The OpenAI employees named in the lawsuit, Chief Hardware Officer Tang Tan and technical staff member Chang Liu, are former Apple employees, the Wall Street Journal reported Friday (July 10). The suit alleges that Tan emailed himself information about…
For an industry betting that obsolete office towers can help solve the housing shortage, this week’s scare at the former Pfizer headquarters could be a snag. Work stopped at the Midtown Manhattan tower on Tuesday after two steel columns failed during construction, prompting evacuations of the site and neighboring properties. The project, led by Nathan…
A four-year ban on a U.S. central bank digital currency (CBDC) is set to take effect if a housing bill becomes law Saturday (July 11), CoinDesk reported Friday (July 10). The ban is included in the bill that was approved by Congress and sent to President Donald Trump, who has neither signed it nor vetoed it….
If you own a foreign bank account, earn income overseas or hold investments outside India, your Annual Information Statement (AIS) will soon become far more comprehensive. The Central Board of Direct Taxes (CBDT) has expanded the scope of the AIS to include information on foreign income and overseas assets received by the…
Key insight: A single borrower obtained fraudulent commercial loans from bank after bank for nearly a decade, using companies he controlled and false equipment-purchase applications. What’s at stake: The case shows how commercial-loan underwriting can be gamed repeatedly across institutions; U.S. Bank alone is owed about $5.6 million. Supporting data: Restitution totals $19,414,187.15 across six…
Applied Digital: The 37% Drop Doesn't Get Me Excited
Walk around New York and you might wonder why some blocks have little or no housing despite tremendous demand for it. You have to connect the dots. At the Arrow Linen site, a Brooklyn Council member is seeking applicants for a task force to monitor construction of 250 apartments. Um, what construction? Apex Development received…
There are no easy solutions for brokers in such a situation. Donaldson said common steps might include changing lenders, ordering a new appraisal, and showing them a comparison with reasons why the broker believes the value is there. That can mean the broker’s role might more closely resemble project management than sales. “As a mortgage…
United Trust Bank has completed a £505,000 unregulated bridging loan for a property investment company to acquire and refurbish a four-bedroom detached house in Leigh-on-Sea, Essex. The 75% loan-to-value facility enabled the borrower to purchase the property and undertake a £50,000 refurbishment programme over eight weeks. The property was then refinanced onto a buy-to-let mortgage…