Barry Sternlicht, the chairman and CEO of Starwood Capital Group, recently faced backlash over his decision to limit investor withdrawals from his real estate fund. In a recent interview on CNBC’s “Squawk Box,” Sternlicht defended his controversial move, attributing it to the current market conditions and investor behavior. Reasoning Behind the Decision Sternlicht explained that
As mortgage interest rates have increased to the highest levels since early May, there has been a noticeable impact on mortgage demand. Total mortgage application volume fell by 5.2% last week, compared to the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with
The Dubai Mall, already known as one of the largest malls in the world, is embarking on a massive expansion project that will cost an estimated 1.5 billion dirhams ($408 million). This sprawling complex in the heart of Dubai is a prime destination for both locals and tourists, boasting a staggering 1,200 stores and 200
A group of investors, including BlackRock and Citadel Securities, have thrown their support behind the creation of a new national stock exchange in Texas. Led by Chairman and CEO James Lee, the Dallas-based group has successfully raised $120 million with the help of over two dozen investors. This initiative aims to take advantage of Texas’s
In a world where social media influencers hold considerable power, it is no surprise that the finance bros are having a moment. A recent viral video posted by content creator Megan Boni, under the handle @girl_on_couch, features lyrics that have taken TikTok by storm. The song humorously outlines the search for a man in finance
The labor market has experienced a gradual cooling trend, making it more challenging for individuals to secure new employment opportunities. Job openings have decreased to their lowest level in over three years, indicating a potential weakening in the job market. Despite this shift, experts like Julia Pollak, Chief Economist at ZipRecruiter, reassure job seekers that
Paramount Global’s current leadership recently unveiled their go-forward plan at the annual shareholder meeting, outlining strategic priorities in the event that a sale of the company does not materialize. The Office of the CEO, comprised of CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy, and Paramount Pictures CEO Brian Robbins, presented a detailed
Warner Bros. Discovery’s Max recently announced price increases for its ad-free options, amidst a trend of streaming services raising their membership fees. The timing of this decision is strategic, just 12 days before the anticipated debut of the second season of HBO’s “Game of Thrones” prequel “House of the Dragon.” Max currently offers three pricing
Recent documents submitted to a U.S. federal court reveal troubling allegations against the major British bank, Standard Chartered. The documents claim that the bank helped finance sanctioned Iranian entities and terrorist groups, all while American authorities turned a blind eye to the evidence at hand. London-based Standard Chartered has faced hefty fines in the past
Keith Gill, also known as “DeepF——Value” on Reddit and “Roaring Kitty” on YouTube, made headlines almost five years ago when he revealed a $53,000 bet in GameStop. Fast forward to today, and his net worth has skyrocketed to over $289 million. Gill’s ability to influence GameStop’s stock price through his online presence has been impressive,