Stocks dropped after Donald Trump ordered that U.S. companies find alternatives to their operations in China.US Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
President Trump again rips into Federal Reserve Chairman Jerome Powell, comparing him to Chinese President Xi Jinping.Politicsread more
Powell repeats his pledge to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow.The Fedread more
Trump is meeting with his top trade advisors at the White House amid a slew of tweets that rocked financial markets Friday morning.Marketsread more
The Koch brothers financed one of the most influential political networks in the modern era. The sprawling political empire includes conservative and libertarian nonprofits...Politicsread more
The two American car companies are among the top exporters of U.S.-produced vehicles to China along with BMW and Daimler/Mercedes-Benz, according to industry data obtained by...Autosread more
China says the new tariffs will begin Sept. 1 and Dec. 15. That's when President Trump's latest tariffs on Chinese goods are to take effect.Marketsread more
The dollar fell on Friday following a speech from Federal Reserve Chair Jerome Powell and after President Donald Trump ordered U.S. companies to find alternatives to their...Currenciesread more
On Tuesday, Walmart filed suit against Tesla alleging its solar panels had caused fires in seven of its stores.Technologyread more
Amazon shows numerous listings for toys and medications that lack the proper health risks to children, as well as sleeping mats previously banned by the FDA, according to a...Technologyread more
Hedge fund billionaire Ken Griffin has purchased several floors of a new condo tower in Manhattan for around $200 million, in what is believed to be the most expensive single residential real estate deal in U.S. history.
According to people familiar with the situation, Griffin recently bought three entire floors of 220 Central Park South, a condo tower under construction in midtown Manhattan. The triplex, which will be located on midlevel floors of the 65-story building, includes a main residence as well as separate units for staff, household help and guests. Altogether, the various units will total more than 18,000 square feet.
A spokesperson for Griffin declined to comment. Earlier reports said Griffin bought the penthouse at 220 Park, though sources said that information is incorrect.
The deal is part of a larger possible New York expansion for the Chicago-based Griffin and his hedge fund. Citadel is in the process of looking for more space in Manhattan, and press reports say the firm recently signed a deal to lease 200,000 square feet at 425 Park Avenue, an office tower under construction between 55th and 56th streets.
Commercial real estate brokers said that under terms being discussed, part of the space being considered would lease for $300 a square foot, which would be a record in New York City.
If the deal goes through, Griffin would break two records in the same year—the most expensive residential and commercial deals in New York City.
People familiar with the situation said Griffin recently moved into a different apartment in New York, and that the new triplex would be an investment rather than a residence. Either way, he wouldn't be moving into 220 Central Park South anytime soon, since the building is scheduled to be completed at the end of 2016 or early 2017. The 950-foot tower, designed by famed architect Robert Stern, has become the "it' building among global billionaires looking for status pads in New York.
The deals also come amid Griffin's contentious divorce. He and Anne Dias are battling over financial terms and child support for their three children.
In court filings, Dias said Griffin earns a gross income of $100 million a month, or around $68.5 million a month after taxes. As part of the divorce proceedings, Griffin is trying to block an effort by Dias to have sole custody of the children and move to New York.
The Griffins also have homes in Aspen, Colorado, Hawaii and Florida. According to the Chicago Tribune, Griffin bought two full-floor condos at the Waldorf Astoria in Chicago last year for nearly $30 million. The couple also owns multiple full-floor units at the nearby Park Tower in Chicago.