Blackstone Stops Making Payments on $325M Las Vegas Office Loan | GlobeSt: Blackstone has stopped making debt payments on its Hughes Center office campus, a 1.5M SF complex spread over 19 buildings at 3770-3993 Howard Hughes Parkway.
Stablecoins and Binance next in SEC crosshairs after Coinbase warning? – DL News: “The fate of Coinbase is largely the fate of centralised exchanges and their relationship to the SEC,” Phil Moustakis, a partner at Seward & Kissel, told DL News.
Why JCPenney’s CEO thinks his turnaround plan will be the one that finally works: ‘It’s about fixing the fundamentals’: Rosen says his strategy boils down to winning more business from existing customers and zeroing in on shoppers of color, his core customers, rather than chasing new, younger customers who never became loyal shoppers under earlier reinvention attempts.
Carbon Offset Seller's Forest-Protection Projects Questioned - Bloomberg: South Pole, the world’s leading purveyor of offsets, is facing allegations that it exaggerated climate claims around its forest-protection projects. The uncertainty could influence how legions of companies try to slash their emissions.
Short Sellers Step Up Bets Against Office Owners on Bank Turmoil - Bloomberg: Money managers have stepped up their bearish bets against office landlords, wagering that the US regional banking crisis will slash the availability of credit to property owners that were already suffering from the pandemic and rising interest rates.
California Dioceses Consider Bankruptcy Amid Sex Abuse Claims: Several California Catholic dioceses are considering bankruptcy to deal with their liabilities, facing a years-long reckoning with an avalanche of child sexual abuse lawsuits.
Accounting-Fraud Indicator Signals Coming Economic Trouble - WSJ: A tool to identify corporate earnings manipulation finds the most risk in over 40 years.
Analysis: Coinbase, SEC on collision course for 'existential' clash over crypto industry | Reuters: Coinbase debuted on the U.S. stock market on April 14, 2021 - the same day U.S. senators confirmed Gary Gensler to lead the Securities and Exchange Commission (SEC), the country's top markets regulator.
Crypto Faces Legal Reckoning as SEC Prepares Action Against Coinbase - WSJ: The regulator’s potential lawsuit against the largest U.S. trading platform could reshape industry and upend investors’ access to crypto markets.
DSW parent undergoes layoffs as the company ‘pares back every line of spending possible’ | Retail Dive: Designer Brands is working to “pare back every line of spending possible,” including labor costs and management incentive compensation, CFO Jared Poff said on an earnings call Thursday.
Good Eggs Cuts Its Valuation 94% in Lifeline Financing as More Startups Get Desperate — The Information: As more startups struggle to raise money from venture capitalists and approach bankruptcy, they are going to extreme lengths to stay afloat. The latest example is Good Eggs, which delivers fresh produce and other groceries.
First Citizens Said to Near Deal for Silicon Valley Bank - Bloomberg: First Citizens BancShares Inc. is in advanced talks to acquire Silicon Valley Bank after its collapse earlier this month, according to people familiar with the matter.
First Citizens in advanced talks to buy Silicon Valley Bank | Reuters: First Citizens BancShares Inc was in advanced talks to acquire Silicon Valley Bank , a person familiar with the matter told Reuters on Sunday.
Bed Bath & Beyond to cut 1,300 more jobs in New Jersey | Reuters: Bed Bath & Beyond Inc will lay off about 1,300 more employees at four locations in New Jersey, including at discount health and beauty chain Harmon, a Worker Adjustment and Retraining Notification (WARN) notice showed on Friday.
Airbnbust Fears Prove Airbnb, Short-Term Vacation Rentals Face a Reckoning: The "Airbnbust" proves the Wild West days of short-term online rentals are over. That's great news for your next vacation.
First–Citizens Bank & Trust Company, Raleigh, NC, to Assume All Deposits and Loans of Silicon Valley Bridge Bank, N.A., From the FDIC: The Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement for all deposits and loans of Silicon Valley Bridge Bank, National Association, by First–Citizens Bank & Trust Company, Raleigh, North Carolina.
