With the war in its sixth week and almost a fifth of the world’s oil supplies affected by Iran’s limits on shipping through the Strait of Hormuz, consequences are spreading from financial markets into business activity, raising risks of a global economic pullback – or even recession.
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Office Buildings Selling at Massive Discounts
The U.S. office market is entering a new phase of distress, with some properties selling at discounts exceeding 90% as landlords and lenders finally accept steep losses after years of holding out for a post-pandemic recovery.
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Wartime Risks for the Economy
The war with Iran will last longer than President Trump had hoped, but an early withdrawal would pose grave risks for the global economy.
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NYC Office Real Estate Rises Under Socialist Mamdani
New York City's office market is, surprisingly, showing signs of strength - even as concerns grow that Mayor Zohran Mamdani's policies could accelerate a longer-term corporate exodus from the nation's financial capital, CNBC reports.
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US Service Sector Cools Amid Signs of Inflation
U.S. services sector growth slowed in March, while prices paid by businesses for inputs climbed to near a 3-1/2-year high, an early sign that the prolonged war with Iran was boosting inflation pressures.
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US Gas Average Hits $4.12 as Calif. Nears $6 a Gallon
Gas prices are climbing nationwide, with the US average at $4.119 per gallon while California drivers are paying nearly $5.93 per gallon, according to AAA.
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