Vacant office space is advertised in San Francisco. The city wants to make it easier to convert offices into apartments.Bloomberg News Office market turmoil since the COVID-19 pandemic amid a housing shortage has driven calls for office-to-residential conversions in San Francisco and Los Angeles. While the concept sounds simple, so far such conversions have been
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President Donald Trump said his administration is going to audit the U.S. gold reserves kept at Fort Knox in Kentucky. “We’re going to go to Fort Knox, the fabled Fort Knox, to make sure the gold is there,” Trump said Wednesday on Air Force One. A drive to audit Fort Knox has gained steam from
monkeybusinessimages | Getty There are signs that the housing market is swinging to favor buyers. However, renewed worries about the economy are holding some buyers back. On the upside for homebuyers, home price growth has slowed and mortgage rates have retreated from recent peaks. The median sale price for homes was $375,475 in the four
Illinois Gov. JB Pritzker speaks in Washington, D.C., in January. The governor devoted a healthy chunk of his budget address to warnings about and defiance of the Trump administration.Bloomberg News Washington’s threats to state and local government funding took center stage when Illinois Gov. JB Pritzker Wednesday delivered his seventh budget address to a joint
It’s still too soon to fully calculate the cost of the Los Angeles wildfires, but one thing is clear: The cost of insurance will go up, and that will affect not just the value of LA real estate but of real estate across the nation. The losses from those wildfires may seem unimaginable now, but
Marion, Illinois, plans to sell $115 million of STAR bonds to finance the redevelopment of a mall and surrounding parcels of land. City of Marion In a first for the Midwest, a city in southern Illinois plans to use sales tax and revenue bond proceeds to fund a mall redevelopment. Next Wednesday, Stifel will price
“The status quo allows the governor to manufacture budget numbers that support his policy agenda, rather than a consensus approach that would reflect legislative input,” Oklahoma Attorney General Gentner Drummond said.Oklahoma Attorney General’s Office Oklahoma’s fiscal 2026 general revenue fund collections are expected to dip below fiscal 2025 projections as the state considers an income
A view of the turbines at Orsted’s offshore wind farm near Nysted, Denmark, September 4, 2023. Tom Little | Reuters President Donald Trump promised to unleash U.S. energy dominance, but his sweeping executive order targeting wind power puts a pipeline of projects at risk that would generate enough electricity for millions of American homes. The
“This budget resolution provides the fiscal framework for what will be one of the most consequential pieces of legislation in modern history and the principal legislative vehicle for delivering on President Trump’s America First agenda,” House Budget Chairman Jodey Arrington, R-Texas, said.Allison Robbert/Bloomberg The House Budget Committee late Thursday passed a partisan budget resolution that clears
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Ukrainian President Volodymyr Zelenskyy has rejected a US proposal to take ownership of around 50 per cent of the rights to his country’s rare earth minerals and is trying to negotiate a better
“A key credit risk for airports is financial exposure from litigation, which is generally mitigated by insurance,” said Kurt Forsgren, US Public Finance Managing Director, S&P Global Ratings. ”While safety concerns could weaken an airport’s desirability and demand over the long term, this hasn’t been observed for major US airports.”S&P Global Ratings A history of close
A man exits the Iron Mountain Inc. data storage facility in Boyers, Pennsylvania, U.S., on Tuesday, Feb. 13, 2018. The underground data center, located in a former limestone mine, stores 200 acres of physical data for many clients including the federal government. Stephanie Strasburg | Bloomberg | Getty Images Elon Musk stood beside a seated
Florida Gov. Ron DeSantis’ proposed fiscal 2025-2026 budget provides no pay increases for most of the state’s workers.Bloomberg News Analysts generally see Florida Gov. Ron DeSantis’ recently proposed fiscal 2025-2026 budget as fiscally responsible, with steps to pay down the debt, reduce overall spending, and strengthen requirements for issuing new debt. The proposed budget comes
Vladimir Putin’s initial plan to capture Ukraine in a few days ended in disaster. But after Donald Trump set up direct peace talks with Moscow, bypassing Kyiv and European allies, the Russian president is now closer than ever to getting what he wanted from his three-year-long invasion. Putin’s main ambition, said people who have spoken
Patchogue, N.Y.: A For Sale sign hangs in front of a house in Patchogue, New York, on June 1, 2024. Steve Pfost | Newsday | Getty Images Mortgage rates moved slightly lower again last week, keeping refinance demand on the rise. Applications to refinance a home loan jumped 10% compared with the previous week and
“There’s still much work to be done, but we are starting on the right path,” House Speaker Mike Johnson, R-La., said about a budget resolution that outlines topline numbers for a massive tax bill.Bloomberg News The House released its long-awaited budget resolution Wednesday, a key step toward crafting a massive tax package that’s being closely
Holding bitcoin is cool again. President Donald Trump has vowed to make America the “crypto capital of the planet”, words that have helped supercharge the token’s price to eye-watering six-figure highs. Wall Street banks and money managers are preparing to jump in. Investors hope Trump will turn the often-derided token into a mainstream financial asset
“Homeowners, not insurance companies, should receive the interest earned on their insurance payouts,” said California Assemblymember John Harabedian, D-Pasadena. California Assemblymember John Harabedian’s office In the wake of Los Angeles’ devastating wildfires, California Gov. Gavin Newsom’s office announced he is sponsoring legislation that would ensure that homeowners, not lenders, benefit from interest earned on insurance
Israel’s Prime Minister Benjamin Netanyahu ordered his military to mass around the Gaza Strip and threatened to resume “intensive fighting” against Hamas if the Palestinian militant group failed to release Israeli hostages by midday on Saturday. Netanyahu’s ultimatum on Tuesday came after Hamas’s announcement that it was delaying “until further notice” the planned release of
U.S. President Donald Trump meets with Japan’s Prime Minister Shigeru Ishiba (not pictured) at the White House in Washington, U.S., Feb. 7, 2025. Kent Nishimura | Reuters President Donald Trump ordered a halt to the production of new pennies, which he said will help reduce “wasteful” government spending. “For far too long the United States
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