Investing
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Debt on trophy office buildings is starting to buckle as loans come due
The financial fallout from half-empty U.S. office buildings has begun to be reflected in prices for bonds backed by luxury office buildings. From New York City’s famed Park Avenue to San Francisco’s California Street, properties long considered fortress investments are reeling as efforts to return more staff to office buildings in big cities stall. Recent…
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As Morgan Stanley looks to replace James Gorman, where are the female bank CEOs?
News that James Gorman is planning to step down as CEO of Morgan Stanley has focused attention on the lack of female CEOs at America’s biggest banks. Speaking at Morgan Stanley’s annual shareholder meeting Friday, Gorman said he plans to step down sometime in the next 12 months. Morgan Stanley’s MS, -2.66% board, he added,…
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Most Americans aren’t happy with how much income tax they paid this year and how to invest in one of the hottest stock market sectors while cutting your risk
Hi, MarketWatchers. Don’t miss these top stories. Most Americans aren’t happy with how much income tax they paid this year Tax fairness and tax burdens are front-and-center, as a fight over the soon-to-be-expiring Trump tax cuts looms. Kia and Hyundai settlement: See if you qualify for part of the $200 million payout Some U.S. cities…
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‘Putting the Treasury on the brink of default is about as dumb as politics gets’
The radio came blaring on when I started my car, the voice of a politician hitting me in the face as I settled in. His message amounted to “Default is a bargaining point. We’re not going to get all the way there, but we need it on the table to force the other side to…
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‘GTA 6’ is coming, and Take-Two stock soars in ‘tremendous’ anticipation
Take-Two Interactive Software Inc. soared Thursday after the videogame publisher hinted that fresh blockbuster titles like “Grand Theft Auto VI” will arrive in 2024 or early 2025. Take-Two TTWO, -1.58% shares finished up 11.7% at $139.63, after surging as much as 13% to an intraday high of $141.47, a price not seen in more than…
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The stock market is sending so many mixed signals, it’s easy to be confused
The stock market, as measured by the S&P 500 Index SPX, -0.16%, has continued to remain in a narrow range since early April. That trading range is bounded by 4050 on the downside and 4200 on the upside. In the past two weeks, SPX has traded in an even tighter range, hovering almost exactly at…
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More banks could collapse like SVB did because the system favors those ‘too big to fail’
“ To stay in business, these banks did the only thing they could. ” In the wake of the failures of Silicon Valley Bank, Signature Bank and Republic National Bank, a common misconception is that these banks failed because they grew too quickly. On Tuesday, former Silicon Valley Bank CEO Greg Becker testified in a U.S.…
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‘Fraud is fun’: Teen hacker charged with breaking into DraftKings accounts leading to theft of $600,000
A boastful teenage hacker has been charged with orchestrating a break-in to the sports betting website DraftKings, which led to $600,000 being drained from hundreds of customer accounts. Joseph Garrison, 18, of Madison, Wis., is accused of using stolen log-in and password combinations he bought on the dark web to hack his way into 60,000…
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Cisco earnings beat, but the stock is falling on concerns about declining orders
Cisco did not reduce its full-year revenue forecast, as a previous version of this article indicated. It has been updated. Cisco Systems Inc. beat expectations for quarterly profit and sales in a report Wednesday, but executives did not increase their top target for annual revenue and revealed that orders declined again, sending shares down 4%…
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Take-Two stock soars as outlook suggests ‘Grand Theft Auto VI’ is a little more than a year away
Take-Two Interactive Software Inc. shares surged in the extended session Wednesday, after the videogame publisher’s weak outlook appeared to confirm a timeline for the next iteration of its blockbuster “Grand Theft Auto” videogame franchise. Take-Two TTWO, +12.56% shares rallied about 10% after hours, following a 0.8% gain to close the regular session at $125.02, for…