Top News & Analysis New York City


  • The economic downturn has not yet found a bottom, according to New York City Comptroller William C. Thompson Jr., who says huge job losses still lie ahead for the city.

  • Parking Meter

    Yesterday we learned that the windy city wants to lease its parking meters to a private company that would raise daytime hourly parking rates in downtown Chicago from $3 now to $6.50 by 2012. Sound exorbitant?

  • Manhattan skyline

    Given the chance to chat with several co-op owners, I asked the expected question: Will all the Wall Street layoffs really put a bullet in the island’s real estate market? The answers were mixed, some citing the still-high demand for housing in a city with relatively limited supply.

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    All week, the Fast Money crew has been looking in-depth at companies with less than stellar reputations, but whose stock may still be valuable in the long run. Today, the lens is turned on NY-area cable co Cablevision, run by the notorious Dolan family, much-hated by New Yorkers for -- among other things -- allowing Isiah Thomas to run the Knicks into the ground.

  • Following are Thursday's biggest winners and losers. Even with today's rough market, there were a number of pops, such as an internet florist, a Canadian fast food chain and a certain star athlete making the move to the Big Apple.

  • News Corporation

    Rupert Murdoch, whose News Corporation owns The New York Post, and Mortimer B. Zuckerman, the real estate developer and owner of The Daily News, who for years have been bitter tabloid competitors, are considering the unthinkable: cooperation.

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    New Yorkers start paying the highest cigarette taxes in the nation Tuesday with the latest $1.25 spike per pack that officials expect to bring in $265 million a year.

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    If New York City is the Big Apple, then it wants to make sure it is a green one by being the first major US city to introduce a law requiring residents and manufacturers to recycle used electronic devices.

  • New York City Skyline

    Annual construction spending in New York City, which hit a record $24.6 billion last year, should rise by 18 percent over the next three years on strength in the residential, commercial and government sectors, a trade group said in a report released on Tuesday.

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    New York City could lose two jobs for every one cut on Wall Street, while anecdotal evidence shows that both residential and commercial markets might finally be starting to cool, a new report said on Wednesday.

  • New York police said on Tuesday they were investigating suspicious mailings of white powdery substances received by several financial companies in the New York City, a police spokesman said.

  • Health risks from asbestos and other toxic materials were questioned Sunday following the blaze that killed two firefighters in an abandoned skyscraper being dismantled next to the World Trade Center.

  • On Amgen's conference call the other day regarding the biotech company's cutbacks, officials repeatedly stated that they think the federal government's new, restrictive guidelines for use and payment of Amgen's bread-and-butter anemia drugs will hurt patients and specifically, result in the need for more risky, old-fashioned blood transfusions to treat the condition.

  • New York City Skyline

    I was struck today by a comment from Dollie Lenz of Prudential Douglas Elliman. She deals with the highest of the high-end properties; the ones that everyone has been saying are immune to any troubles in the mortgage market. These folks aren't subprimers; in fact, many of them don't even take out mortgages.

  • Andrew Cuomo

    New York State Attorney General Andrew Cuomo filed a lawsuit against ExxonMobil to force the cleanup of a decades-old oil spill in New York City.

  • New York City Skyline

    I hate to say this, because I grew up in Manhattan, but are the residents of this respectable urban enclave on crack?? I’m busy reporting these nasty numbers of double digit price dips in the major metropolitan markets of our great U.S. of A.--the LA’s, Miami’s and Washington, DC's--and then I get this report from the exalted bean-counters at Halstead Property of NYC.

  • The energy market could have a new benchmark oil price when Dubai launches its Middle East sour crude futures contract as an alternative to New York's NYMEX light crude oil futures and London's IPE Brent crude oil.

  • will_build_AP.jpg

    So I just saw on TV that Gwyneth Paltrow doubled her money on the sale of her Tribeca apartment in Manhattan. $14 mill!! She may not like the U.S. (she moved to London because, she has said, she prefers the European way of life), but she can't trash the NYC real estate market now, can she? Like I've been saying and saying and saying, all real estate is local.