Just in Time for Holiday Shopping Season: UK Fashion Giant Arcadia Crashes into Bankruptcy by Nick Corbishley • Dec 1, 2020 • 34 Comments Asset stripping by its owner, years of brick-and-mortar meltdown, topped off by the Pandemic. Suppliers, landlords, and pensioners twist in the wind.
Vacancy Rate at Iconic Manhattan Tower with 899 Apartments Hits 26%: This Shows How Fast & Massive the Exodus Has Been by Wolf Richter • Nov 30, 2020 • 130 Comments Then there’s the “single-asset” commercial mortgage-backed security (CMBS) backed only by the mortgage of this tower.
The Sorry State of Fintech Privacy: Visa Wants to Buy Plaid, and with it, Bank Transaction Data for Millions of People. DOJ Sues by Electronic Frontier Foundation • Nov 30, 2020 • 46 Comments Plaid asks for your bank credentials, logs into your account, and obtains your banking data, such as balances, assets, transaction history, and debt. Visa wants to buy it all.
The State of American Restaurants, by City: The Catastrophe of the Second Wave by Wolf Richter • Nov 29, 2020 • 143 Comments Despite the rampant indoorification of outdoor dining.
Vast Euro-Derivatives Market, Centered in London, Is Set to Fragment as End of Brexit Transition & Uncertainties Loom by Nick Corbishley • Nov 28, 2020 • 88 Comments It shouldn’t “create risks to the stability of the financial system,” which is soothing to know.
This Spike of New Businesses is a Doozie, on Several Levels by Wolf Richter • Nov 27, 2020 • 162 Comments People are massively striking out on their own. But new businesses with planned wages have been getting scarcer since 2007.
My Thoughts on San Francisco’s “Exodus,” the Social-Life & Cost-Cutting Aspects of Work from Home, and the Truly Bizarre Split in the Real Estate Market by Wolf Richter • Nov 27, 2020 • 93 Comments Wolf Richter with Jim Goddard on HoweStreet.com Radio
The State of the American Consumer: Free Pandemic-Money Runs Low by Wolf Richter • Nov 25, 2020 • 172 Comments Stimulus & extra UI dried up. But 16% of “proprietors’ income” in October was PPP money & Pandemic farm aid.
The Most Splendid Housing Bubbles in America: Nov. Update by Wolf Richter • Nov 24, 2020 • 268 Comments A pandemic of house price inflation.
California Legal Cannabis Sales Exploded. And California is Cashing In by Wolf Richter • Nov 24, 2020 • 110 Comments On Fumes of Stimulus and to Soothe the Frustration.