A trend towards hybrid and remote work since the pandemic may cut $800 billion from office property values by the end of the decade, according to a recent study by consulting firm McKinsey. McKinsey said that employees continued to spend far less time working at the office compared to the pre-pandemic era, The survey, published on July…
Hybrid Work Trend May Crash Commercial Real Estate Values By 2030, Says McKinsey
July 15, 2023
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Worst Case Scenario: Hybrid Work Trends May Result in Office Space Demand Falling 38 Percent by 2030, Says McKinsey
July 15, 2023
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Business & Marketscommercial real estateCompanieseconomic policieseconomyGlobal Real Estatehybrid workInvestmentMarketspandemicreal estateremote work
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A trend towards hybrid and remote work since the pandemic may cut $800 billion from office property values by the end of the decade, according to a recent study by consulting firm McKinsey. McKinsey said that employees continued to spend far less time working at the office compared to the pre-pandemic era, The survey, published on July…
American Airlines and JetBlue Will End Their Partnership Next Week After Losing Antitrust Case
NEW YORK—American Airlines and JetBlue Airways will end their partnership in the Northeast next week, after a judge ruled that the deal violates antitrust law. JetBlue said Friday that it will end codesharing—the practice of selling seats on each other’s flights—and reciprocal frequent-flyer benefits on July 21. Customers who already bought a ticket through the…
Stock Market Today: A Raucous Week for Wall Street Closes With a Quiet, Mixed Finish
NEW YORK—Wall Street’s latest winning week closed with a mixed finish on Friday following stronger profit reports than expected from several big U.S. companies. The S&P 500 slipped 4.62, or 0.1 percent, to 4,505.42 to edge back from its highest closing level since April 2022. The Dow Jones Industrial Average rose 113.89, or 0.3 percent,…
Closing Prices for Crude Oil, Gold, and Other Commodities (July 14)
July 14, 2023
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Benchmark U.S. crude oil for August delivery fell $1.47 to $75.42 a barrel Friday. Brent crude for September delivery fell $1.49 to $79.87 a barrel. Wholesale gasoline for August delivery fell 4 cents $2.64 a gallon. August heating oil fell 1 cent to $2.60 a gallon. August natural gas fell 1 cent to $2.55 per…
Microsoft’s Contract With Government Agencies Under Fire Following Chinese Cyber Attacks
July 14, 2023
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After Chinese hackers were able to hack into U.S. government email accounts last week, Microsoft’s security systems are now under fire from Congress. A cyber gang based in China was accused of stealing emails from senior U.S. officials in a major security breach through a weakness in Microsoft MSFT.O software. The attacks were allegedly able…
How Major US Stock Indexes Fared July 14
Another winning week for Wall Street drifted to a quiet close following profit reports from several big U.S. companies that topped expectations. The S&P 500 fell 0.1 percent Friday, coming off its highest close since April 2022. The Dow rose 113 points, or 0.3 percent, and the Nasdaq slipped 0.2 percent. UnitedHealth Group jumped after…
IN-DEPTH: The Recreational Fishing Industry Faces a Bleak Future in the Shadow of Wind Turbines, Local Fishermen Fear
July 14, 2023
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Destruction of habitat and change in the migratory patterns of fish caused by electromagnetic fields (EMFs) emitting from offshore wind turbine cables will demolish the recreational fishing industry along the Atlantic coast, local fishermen warn. Jim Hutchinson, the managing editor of the New Jersey Delaware Bay Edition of The Fisherman magazine, has been collecting studies…
FTC Appeals Again the Microsoft-Activision Merger
The Federal Trade Commission (FTC) is continuing to oppose the Microsoft-Activision merger with a last-minute appeal against a judge’s ruling, while the big tech companies were voicing their eagerness for the merger they say will not harm competition. The FTC on Thursday night asked (pdf) the San Francisco-based 9th U.S. Circuit Court of Appeals, which…
2024 Social Security Payment Estimates to Rise Unexpectedly, Group Says
The next cost-of-living adjustment (COLA) increase for Social Security recipients might be better than what was previously predicted, according to a nonpartisan seniors group. The Senior Citizen’s League advocacy group said that the COLA increase for 2024 might be around 3 percent, which is far lower than 2023’s 8.7 percent increase, according to a press release…
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