(Bloomberg) — The U.S. commercial real estate market has been in turmoil since the start of the Covid-19 pandemic. But Community Bancorp of New York reminds us that some lenders are starting to see the pain. Most Read from Bloomberg The bank's decisions to cut dividends and reserve balances sent its shares down a record…
Community Bancorp of New York posted a surprise loss as it wrote down bad real estate loans, sending its stock down 36%, dragging down the share prices of regional banks across the country. Commercial real estate, especially the office sector, has taken a hit since the pandemic forced millions of Americans to work from home….
Microsoft shared it Second quarter results for fiscal year 2024, and as expected this is positive news for Xbox. In its first earnings report since the deal closed in October, the tech giant revealed that its $69 billion acquisition of Activision Blizzard increased gaming revenue by 49 percent. In Revenue call slides, Microsoft revealed that…
CNN — Chita Rivera, an iconic actor on stage and screen with credits including “Chicago,” “Kiss of the Spider Woman” and “Sweet Charity,” has died. She is 91 years old. Rivera's longtime publicist Merle Frimark confirmed the news to CNN on Tuesday, saying Rivera died “peacefully” on Tuesday “after a brief illness in New York.”…
The Justice Department is investigating Rep. Cory Bush, Democrat of Missouri, for misappropriating funds, after the DOJ subpoenaed the House sergeant-at-arms Monday for related documents, a senior congressional source familiar with the investigation told CNN. Separately, two law enforcement sources told CNN that the investigation is targeting Bush, who is the subject of a corruption…
Tomohiro Ohsumi/Bloomberg/Getty Images A Camry sedan was showcased at the Toyota offices in Tokyo in 2017. Hong Kong CNN — Toyota has overtaken German rival Volkswagen as the world's largest automaker by sales for the fourth year in a row. Despite the good news for Toyota (T.M), risks being mired in scandals over how it…
The NBA trade deadline is just days away, and the Warriors are expected to make some moves. Sitting in 12th place in the Western Conference with a 19-24 record, it's clear Golden State needs change, but it's unclear what that change will look like. However, The Athletic's Shams Sarania shed some light on the Warriors'…
The object observed in the Pacific Ocean by deep-water equipment is consistent with the size and shape of Earhart's plane. Deep sea vision Hide title Change the title Deep sea vision The object observed in the Pacific Ocean by deep-water equipment is consistent with the size and shape of Earhart's plane. Deep sea vision New…
Open Editor's Digest for free FT editor Roula Khalaf picks her favorite stories in this weekly newsletter. Japan has revived a spacecraft that lost power shortly after making a historic lunar touchdown this month, allowing it to resume work to illuminate the moon's origin and composition. The Japan Aerospace Exploration Agency (Jaxa) confirmed on Monday…
China Evergrande, once one of the country's biggest property developers, has been caught up in Beijing's debt crisis over the past few years. The Wall Street Journal Evergrande's foreign creditors failed to reach an 11th-hour deal on restructuring this weekend, meaning imminent liquidation for the real estate developer. Evergrande, the world's most indebted property developer,…
