The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported in their fiscal second-quarter earnings.Retailread more
The sexy image that once boosted Victoria's Secret has been haunting L Brands more recently, as women are steering clear of the brand's hot pink, lacy and bejeweled lingerie.Retailread more
President Trump and Apple CEO Tim Cook have had a rocky relationship in recent years, but Trump is now complimenting the executive publicly.Technologyread more
Apple's move into banking could break a key relationship point between customers and wireless carriers such as Verizon and AT&T, according to MoffettNathanson.Marketsread more
Federal Reserve members worried over future growth are highly concerned about the U.S.-China tariff battleThe Fedread more
President Donald Trump signed a memorandum on Wednesday to automatically cancel the student loan debt of disabled veterans. More than 25,000 service members will have their...Personal Financeread more
Reps. Rosa DeLauro, D-Conn., and Lucille Roybal-Allard, D-Calif., say they sent a letter to Homeland Security and the Department of Health and Human Services seeking answers.Health and Scienceread more
Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
The elevator is going omnidirectional. German company thyssenKrupp, has developed a ropeless elevator system called MULTI. Each cabin can move horizontally as well as vertically. The technology used to move the elevators through the shafts is the same magnetic mechanism used by Japan's maglev train.
MULTI could be critical in the construction of higher buildings. The vertical run of a typical elevator is limited to about about 1,640 feet due to the weight of the cables. Some of these limitations were overcome in 2013 with the invention of the KONE UltraRope. The Ultrarope is a lightweight carbon fiber cable that essentially doubled the height that an elevator could travel.
"The MULTI invention eliminates that [ropes] entirely. So in theory, you could go up to infinity in any dimension," says Daniel Safarik, editor of the Council of Tall Buildings and Urban Habitat journal.
Another advantage of the MULTI system: a need for fewer shafts.
"If you can...reduce by some substantial portion the number of shafts you have to have in a building in order to achieve a certain height, that gives you back floor space that you can now rent or sell," Safrik says.
ThyssenKrupp has been testing its MULTI system in a 800-foot tower in Rottweil, Germany. Its first commercial installation will be at OVG Real Estate's new East Side Tower in Berlin, which is expected to be finished in 2020.
"The evolutionary bottleneck that has been created by the exclusively vertical elevator system has been removed, and this opens up some possibilities to dramatically change the urban landscape of our city."