A flood of new apartments in Manhattan are finally starting to take their toll on a subsection of NYC real estate that had remained quite resilient up until now. As Bloomberg points out this morning, with rent concessions now being offered on 35% of high-end apartments in the Big Apple, the median rent for non-doormen buildings fell in October for the first time in 20 months.
There was something poetically ironic about last night's 800+ point crash in the Nikkei...
... which was saved in the last minutes of trading by what was rumored to be the latest blatant BOJ intervention: it took place right after the month in which a record number of foreigners rushed into Japanese stocks, chasing the record momentum of the Nikkei and Topix.
According to the latest data from the Japanese MOF, in October foreigners made the largest investments ever in Japanese equities in October.
Monsanto thought they had developed an amazing scheme to corner the Midwest farming market when they developed new genetically engineered seeds that were resistant to their new herbicide called dicamba. The resistance of Monsanto's new magical seed crops to dicamba meant that the herbicide could be sprayed liberally by farmers to eradicate weeds and boost yields.
A surprise political move by Zimbabwean president Robert Mugabe, who fired his deputy Emmerson Mnangagwa, has played havoc on the US dollar/bond note parallel exchange rate, as well as on Bitcoin price in the country.
image courtesy of CoinTelegraph
Disney is sliding after hours after another poor quarter, in which the Mickey Mouse company which recently severed relations with Netflix, reported a miss on the top and the bottom line, reporting Q4 EPS of $1.07, down 3% from the $1.10 a year ago, and below the $1.14 expected. The number would have been even worse had the company used the 34.3% effective tax rate it had one year ago instead of the lower 30.8% rate it used this quarter. The revenue miss was even worse, with DIS generating $12.78BN in Q4, 3% below a year ago, and over half a billion below the $13.32BN expected.