What Recession? Professional Forecasters Raise Expectations for 2024
This year looks to be a much better one for the U.S. economy than business economists were forecasting just a few months ago, according to a survey released Monday.
Megabank CEOs Warn New Regulations Could Harm the Economy
The heads of Wall Street’s biggest banks used an appearance on Capitol Hill on Wednesday to plead with senators to stop the Biden administration’s proposed changes to how banks are regulated.
$202M Wellesley Acquisition Includes Lab Conversion Potential
Beacon Capital Partners’ newest local acquisition is a four-building Wellesley office campus with potential for a life science conversion.
Big Bank Profits Decline as Deal-Making, Mortgages Slow
Four big banks reported noticeable declines in their first-quarter profits Thursday, as the volatile markets and war in Ukraine caused deal-making to dry up while a slowdown in the housing market meant fewer people sought to get a new mortgage or refinance.
Banks’ DEI Efforts Start to Take Off
A year and a half after protests against racial injustice rocked America, banks’ efforts to respond with concrete action are starting to flower with collaborations between numerous lenders launching in recent months.
Bank Profits Soar, Helped By Merger Frenzy, Fewer Bad Loans
Four of the largest U.S. banks said their profits grew by double-digits last quarter, as a healthier U.S. economy has helped reduce the number of loans in default or that the bank won’t likely recoup.
Morgan Stanley to Buy Eaton Vance in $7B Deal
Morgan Stanley will buy Boston-based investment management firm Eaton Vance in a deal valued at about $7 billion.
Boston Harbor Hotel Closing Saturday
The Boston Harbor Hotel will close indefinitely beginning Saturday as the hospitality industry absorbs the initial brunt of the coronavirus’ impact on real estate.
A Big Bet on Post Office Square
A rooftop crane and demolition of the rear parking garage are signs of bigger changes to come at One Post Office Square, a 41-story office tower kicking off a $300 million expansion and renovation project.
Langham Hotel Adds Conference Facilities
As a neighboring office tower gears up for a major renovation and expansion, the Langham Hotel is moving ahead with updates to its 317 guest rooms and new conference facilities at 250 Franklin St. in Boston.
Hood Park Flips Garage Rules for Future Flexibility
Cambridge-based architects SMMA came up with a creative way to add more than 900 structured parking spaces at Charlestown’s Hood Park while preparing for a future in which cars are no longer king.
Hot Property: Park 9
Three tenants have signed leases totaling over 55,000 square feet at Park 9 in Wellesley.
Longfellow Raises $500M For New Real Estate Fund
Boston-based Longfellow Real Estate Partners has raised $500 million in a new fund that will acquire tech and life science properties across the U.S.
Morgan Stanley Profit Beats Estimates on Trading Boost
Morgan Stanley posted a better-than-expected first-quarter profit on Wednesday, as its trading business drew strength from increased market volatility in line with other major banks.
Racial Bias Persists at Morgan Stanley, New Lawsuit Claims
Morgan Stanley has reneged on promises to stop discriminating against black employees, according to a lawsuit by a former broker who said he was fired after complaining about racial bias, including in pay and career opportunities.
Morgan Stanley to Take $1.25B Hit in Fourth-Quarter from Tax Bill
Morgan Stanley said on Friday it would take a $1.25 billion hit in its fourth-quarter earnings due to a cut in corporate tax rate as part of the U.S. tax code overhaul.
Morgan Stanley Smashes Estimates On Strength In Wealth Management
Morgan Stanley posted a much higher than expected quarterly profit on Tuesday as record revenue from its wealth management business helped offset the blow from a slump in trading activity.
FINRA Orders Morgan Stanley To Pay $13M In Fines, Restitution
Financial Industry Regulatory Authority said on Monday it ordered Wall Street investment bank and securities brokerage Morgan Stanley to pay $13 million in fines and restitution to clients for inadequately supervising certain short-term trades.
Morgan Stanley Claims Another Trading Victory Over Rival Goldman Sachs
Morgan Stanley beat Wall Street’s profit expectations on Wednesday, reporting gains across most of its businesses and producing more trading revenue than rival Goldman Sachs Group Inc, a rare feat.
Alewife Office Buildings Sell For $370M
Three office buildings in Cambridge’s revitalized Alewife submarket have sold for a combined $370.2 million to a partnership of Longfellow Real Estate Partners and Morgan Stanley.
