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Economy

“New York City Reopens After Covid-19 Lockdown”

“As the nation’s largest city began reopening Monday after more than two months of lockdown, New Yorkers expressed trepidation, relief and optimism about this first step toward getting back to business….” https://www.wsj.com/articles/new-york-city-reopens-after-coronavirus-lockdown-11591628818 I got so caught up in penny stocks… Continue Reading…

Business, Economy

“Empire State manufacturing index sees record decline to -21.5 in March”

“The numbers:The New York Fed’s Empire State business conditions index plunged a record 34.4 points to -21.5 in March, the regional Fed bank said Monday. Economists had expected a reading of 4.8, according to a survey by Econoday. This is the… Continue Reading…

Business, Stocks

“J.C. Penney in danger of being booted from New York Stock Exchange”

“Shares are required to maintain an average closing price of at least $1 over a 30-trading day period. The company has six months to regain compliance… J.C. Penney shares have plunged more than 93 percent since March 2016 amid changing consumer… Continue Reading…

Banking, Economy

“New York Fed Adds $115.14 Billion in Short-Term Liquidity to Markets”

“The New York Fed added $115.14 billion to financial markets via temporary operations on Thursday. The liquidity additions came in two parts. One was an overnight repurchase agreement with eligible banks totaling $80.14 billion, and the other was via a… Continue Reading…

Banking, Economy

“New York Fed Adds $82.7 Billion To Financial System in Latest Repo Transaction”

“The Federal Reserve Bank of New York added $82.7 billion to the financial system Friday, using the market for repurchase agreements, or repo, to relieve funding pressure in money markets. Banks asked for $21.15 billion in 6-day loans, all of… Continue Reading…

Economy, Real Estate

New York City Housing Prices Falling Fast

“The Manhattan real estate market stumbled in the third quarter of 2019, new reports show, as prices plunged and fewer buyers were willing to purchase higher-priced properties in the wake of two recent tax increases. The median sales price for properties… Continue Reading…

Banking, Economy

“NY Fed to pump $75 bn into money markets daily through Oct 10”

“The New York Federal Reserve Bank said Friday it will inject billions into the US financial plumbing on a daily basis for the next three weeks in an effort to prevent a spike in short-term interest rates. The Fed will… Continue Reading…

Economy

“New York, California high-tax state exodus just beginning, expert warns”

” The cap on state and local tax (SALT) deductions has already begun to driveOpens a New Window. some residents away from high-taxOpens a New Window. states like New York and New Jersey, but experts say that trend is only going to intensify… The… Continue Reading…

Economy

“New York City’s Population Dips for First Time in Over a Decade”

“The nation’s largest city is losing population for the first time in more than a decade, new federal estimates show…” https://www.wsj.com/articles/new-york-citys-population-dips-for-first-time-in-over-a-decade-11555560060 This might not look like a business article at first glance. This is article is important in regards to… Continue Reading…

Economy, Real Estate

“Trump Tax Reform Hits Home in Wealthy New York Suburbs”

“…Nearly 11 million taxpayers will be affected by the new cap on so-called SALT deductions on the taxes they file this year, and could lose out on a cumulative $323 billion, according to a February estimate from the U.S. Treasury… Continue Reading…