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Economists are slashing 4th-quarter GDP forecasts - citing poor holiday sales and warm winter weather
News 4 days ago
Economists are slashing 4th-quarter GDP forecasts - citing poor holiday sales and warm winter weather

Economists are lowering their fourth-quarter GDP expectations as holiday sales arrive lower than anticipated and utility use slows. Bank of America...

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WeWork signed just 4 new leases last quarter as SoftBank scrambles to turn it around
News 5 days ago
WeWork signed just 4 new leases last quarter as SoftBank scrambles to turn it around

WeWork signed only four new US leases for a combined 184,000 square feet of space in the last quarter of 2019, according to CBRE data. The troubled...

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The No. 3 fund manager of 2019 is betting big on a corner of the market he thinks can survive the retail apocalypse, regardless of outcome. Here are the 2 stocks he's using to take advantage.
News 3 weeks ago
The No. 3 fund manager of 2019 is betting big on a corner of the market he thinks can survive the retail apocalypse, regardless of outcome. Here are the 2 stocks he's using to take advantage.

Chip Reed runs one of the top mutual funds of 2019, and discount retailers TJX Cos. and Ross Stores were big winners for him. Reed says those two...

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This coworking startup has an ambitious plan to succeed where WeWork stumbled, and it begins with owning its own buildings
News 3 weeks ago
This coworking startup has an ambitious plan to succeed where WeWork stumbled, and it begins with owning its own buildings

Novel Coworking competes with WeWork and is similarly ambitious, but its business model and prospects are distinct, company CEO Bill Bennett told...

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Manhattan rents are nearing record highs after seeing their biggest spike of the year — and luxury tenants are to blame
News 1 month ago
Manhattan rents are nearing record highs after seeing their biggest spike of the year — and luxury tenants are to blame

Net effective median rent in Manhattan jumped 8.7% to $3,600 without concessions in November, according to a Thursday report from Miller Samuel Inc...

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WeWork's turnaround plan calls for it to stanch its losses while opening hundreds of new locations. Here's why business and real estate experts are baffled.
News 1 month ago
WeWork's turnaround plan calls for it to stanch its losses while opening hundreds of new locations. Here's why business and real estate experts are baffled.

Real-estate and business experts who spoke with Business Insider were baffled by the turnaround plan WeWork unveiled to employees on Friday. The...

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The retail industry could be headed for a tough holiday season. Here's a roundup of 3 companies that just cut their profit outlooks.
News 1 month ago
The retail industry could be headed for a tough holiday season. Here's a roundup of 3 companies that just cut their profit outlooks.

Slashed full-year profit outlooks are weighing on retail stocks ahead of the important holiday season. After disappointing earnings reports this...

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Famed economist David Rosenberg lays out the evidence that recession risks are alive and well — and warns a 'state of denial' has gripped the market
News 2 months ago
Famed economist David Rosenberg lays out the evidence that recession risks are alive and well — and warns a 'state of denial' has gripped the market

The details of the most recent report on US retail sales show that consumer spending — the economy's biggest driver — is not as resilient as it...

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SoftBank is reportedly close to taking over a fancy London members' club that WeWork also wanted to rent
News 2 months ago
SoftBank is reportedly close to taking over a fancy London members' club that WeWork also wanted to rent

SoftBank is reportedly close to securing the keys to a private members' club in London that WeWork also wanted to rent. That suggests the pair's...

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We spent a day with ScootScoop repossessing renegade scooters to find out why the services are drawing so much backlash
News 2 months ago
We spent a day with ScootScoop repossessing renegade scooters to find out why the services are drawing so much backlash

ScootScoop has found big business in repossessing scooters that have been parked illegally. The duo will harvest dozens of Bird or Lime scooters on...

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JCPenney surges 23% after its 3rd-quarter earnings report wasn't as bad as analysts thought it'd be
News 2 months ago
JCPenney surges 23% after its 3rd-quarter earnings report wasn't as bad as analysts thought it'd be

JCPenney reported fiscal third-quarter 2019 earnings on Friday that weren't as bad as Wall Street expected. Shares of the retailer rose as much as...

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A Manhattan real estate tycoon predicted WeWork would run into problems
News 2 months ago
A Manhattan real estate tycoon predicted WeWork would run into problems

The boss of a billion-dollar real estate group predicted WeWork would run into problems. "We studied WeWork and we're not comfortable with their...

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LVMH just offered to buy Tiffany & Co — here's a look at 17 of the most iconic brands the French luxury giant owns
News 2 months ago
LVMH just offered to buy Tiffany & Co — here's a look at 17 of the most iconic brands the French luxury giant owns

Luxury conglomerate LVMH has announced interest in buying jewelry retailer Tiffany and Co. As Reuters reported, the deal could be worth $14.5...

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Struggling Nordstrom is going all-in on New York City in a major turnaround attempt — but the market doesn't seem to care (JWN)
News 2 months ago
Struggling Nordstrom is going all-in on New York City in a major turnaround attempt — but the market doesn't seem to care (JWN)

Nordstrom opened its new flagship New York City women's store on Thursday. Shares sank as much as 2.24% by mid-morning. Wall Street reactions to...

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Google just hired a former Microsoft exec to spearhead G Suite, the productivity software that's going after one of Microsoft's biggest money makers
News 3 months ago
Google just hired a former Microsoft exec to spearhead G Suite, the productivity software that's going after one of Microsoft's biggest money makers

Google hired Javier Soltero, the former head of Microsoft's Cortana virtual assistant and the former head of strategy for Microsoft's Office suite...

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WeWork says it has 527,000 'memberships' but that's not as straightforward as it seems
News 3 months ago
WeWork says it has 527,000 'memberships' but that's not as straightforward as it seems

WeWork bills itself as being more affordable than traditional leases where the tenant is on the hook for everything from their own construction...

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US retail sales unexpectedly drop as Trump's trade war hits the backbone of the economy
News 3 months ago
US retail sales unexpectedly drop as Trump's trade war hits the backbone of the economy

A key measure of consumer spending unexpectedly dropped for the first time in seven months in September. The Commerce Department said on Wednesday...

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WeWork used massive discounts — in some cases, essentially giving away space for 2 years — to try to poach customers from rivals
News 3 months ago
WeWork used massive discounts — in some cases, essentially giving away space for 2 years — to try to poach customers from rivals

WeWork used steep discounts and other price-related promotions to try to poach customers from rival coworking companies, multiple sources in the...

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Bank of America projects a slowdown in holiday spending this year — and singles out 3 retailers that could outperform the trend (AAN, BURL, TGT)
News 3 months ago
Bank of America projects a slowdown in holiday spending this year — and singles out 3 retailers that could outperform the trend (AAN, BURL, TGT)

Holiday season spending is set to slow this year due to warmer weather, a shorter holiday, increased inventory, and trade-war tariffs, Bank of...

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From Forever 21 and Payless to PG&E, here are the biggest bankruptcies of the year so far
News 3 months ago
From Forever 21 and Payless to PG&E, here are the biggest bankruptcies of the year so far

2019 has been a tough year for retail. More than 8,200 stores are expected to close this year, and multiple companies have already filed for...

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A New York real estate group sounded the alarm on WeWork years before it plunged into chaos
News 3 months ago
A New York real estate group sounded the alarm on WeWork years before it plunged into chaos

An 85-year-old New York real estate group repeatedly sounded the alarm on WeWork years before the shared-workspace company plunged into chaos....

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WeWork's stomach-turning roller coaster ride
News 3 months ago
WeWork's stomach-turning roller coaster ride

Hello, Welcome to this week's edition of Trending, the weekly newsletter highlighting the best of BI Prime's tech coverage. I'm Alexei Oreskovic,...

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UBS: These 7 cities are most at risk of a real estate bubble
News 3 months ago
UBS: These 7 cities are most at risk of a real estate bubble

The housing market is typically one of the most stable and important elements of any modern economy. The UBS Global Real Estate Bubble Index tracks...

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UBS: These 6 factors could spell disaster for retailers this holiday season
News 4 months ago
UBS: These 6 factors could spell disaster for retailers this holiday season

The holiday shopping season is right around the corner. It's often regarded as the most important time of the year for retailers. Retailers are set...

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Firing Adam Neumann wouldn't solve WeWork's biggest problem: The underlying business stinks (UBER)
News 4 months ago
Firing Adam Neumann wouldn't solve WeWork's biggest problem: The underlying business stinks (UBER)

WeWork's board is reportedly considering removing Adam Neumann as the company's CEO in the wake of the company's decision to postpone its initial...

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WeWork's business model has created a new 'financial-stability risk' that could tank the economy, Boston Fed president says
News 4 months ago
WeWork's business model has created a new 'financial-stability risk' that could tank the economy, Boston Fed president says

The rise of the coworking business model employed by companies like WeWork poses "a new type of potential financial-stability risk," Eric Rosengren...

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WeWork is doing increasing amounts of business with SoftBank, which is also its biggest investor
News 4 months ago
WeWork is doing increasing amounts of business with SoftBank, which is also its biggest investor

WeWork is seeing a growing amount of revenue from SoftBank, which is also its biggest investor. SoftBank accounted for 2% of WeWork's revenue in...

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New data shows 1 in 4 luxury apartments in New York City are unsold — and it could be signaling a recession is near
News 4 months ago
New data shows 1 in 4 luxury apartments in New York City are unsold — and it could be signaling a recession is near

One in four luxury apartments in New York City is unsold, according to new data from StreetEasy. It's a sign that investors are worried that an...

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The world's biggest video game retailer, GameStop, is closing hundreds of stores as it attempts to stay afloat — and that's just the first wave of closures (GME)
News 4 months ago
The world's biggest video game retailer, GameStop, is closing hundreds of stores as it attempts to stay afloat — and that's just the first wave of closures (GME)

GameStop, the world's largest game retailer, is closing 180 to 200 stores — and that's just the beginning. "We are on track to close between 180...

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The mortgage-backed investment behind the financial crisis is in trouble again. One market expert explains the new risk, and how to sidestep painful losses.
News 4 months ago
The mortgage-backed investment behind the financial crisis is in trouble again. One market expert explains the new risk, and how to sidestep painful losses.

The mortgage-backed securities at the core of the 2008 financial crisis are facing an all-new risk, according to Colleen Denzler, an investor at...

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