US neighborhoods plagued by 'for sale' signs as homes on the market hit worrying high post-pandemic
Slower demand from buyers is one contributor, according to Zillow's latest market report.
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Reuters
2 minutes ago
- Reuters
Trump says he will pick a 'temp' replacement for Fed's Kugler in days
WASHINGTON, Aug 6 (Reuters) - U.S. President Donald Trump said on Wednesday he would likely pick someone to serve out the remaining months of a soon-to-be vacant position on the Federal Reserve's Board of Governors in the next two to three days, choosing from a shortlist of three. "We started the interviewing process," Trump told reporters in the Oval Office, noting that Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Vice President JD Vance were all involved. "We have some great candidates. It's probably down to three," he said. Fed Governor Adriana Kugler last week unexpectedly announced she was leaving as of this Friday to return to Georgetown University, where she is a tenured professor. Trump has long sought to oust Fed Chair Jerome Powell or at least replace him when his term ends in May. On Wednesday he indicated the current Fed governor search would focus only on finding someone to serve out the remainder of Kugler's term, which runs through January, rather than identifying a longer-term successor. "We're probably going to go with a temp and then a permanent, I think," Trump said. "So, the temp is going to be named, I'd say, in the next two, three days, and then we're going to go permanent." He repeated earlier comments complimenting the "two Kevins" - former Fed Governor Kevin Warsh and current National Economic Council director Kevin Hassett - without mentioning the third candidate. Trump said again that Bessent was not interested in the job, and said the new governor nominee would have roots in Wall Street. "Essentially, we're all from Wall Street, aren't we?" he said. On Tuesday, Trump said he had narrowed his search for a new Fed chair to four people, one of whom is thought to be current Fed Governor Christopher Waller.
Reuters
2 minutes ago
- Reuters
Paramount's co-CEO Robbins to step down, memo shows
Aug 6 (Reuters) - Brian Robbins, who helped grow the Paramount+ streaming service, is stepping down as Paramount Global's (PARA.O), opens new tab co-CEO, according to a memo seen by Reuters on Wednesday, following the completion of its merger with Skydance Media. David Ellison, the CEO of Skydance, will lead the new company as chief executive after the merger is completed by August 7. "The company is in exceptionally capable hands with David Ellison and the incoming team from Skydance," Robbins said in the memo. Robbins, who joined the company in 2017, was appointed co-CEO in April last year, along with George Cheeks and Chris McCarthy, with the three collectively succeeding Bob Bakish. McCarthy's departure was reported last month, while Cheeks will remain with the company as its chair of media, overseeing its broadcast and cable television business. Robbins was named CEO of Nickelodeon in 2018, and became the chief of Paramount Pictures in 2021. As CEO of Paramount Pictures, Robbins has overseen 17 number one releases at the box office and has overseen franchises including "Sonic the Hedgehog," "A Quiet Place," and "Mission: Impossible." After the deal closes, the company is expected to be structured into three primary business segments - studios, direct-to-consumer and TV media.
Daily Mail
2 minutes ago
- Daily Mail
Billionaire grocery magnate warns NYC will turn into CUBA if socialist gets elected as mayor
Billionaire supermarket owner John Catsimatidis has warned that mayoral candidate Zohran Mamdani will transform New York City into Cuba, which has been ruled by communists since 1959. Wealthy New Yorkers, including Catsimatidis, have been forecasting the doom of America's largest city should the self-professed socialist win the general election in November. Catsimatidis, owner of D'agostino and Gristedes, slammed Mamdani's agenda as free handouts in an exclusive interview with Fox Digital on Wednesday. 'We're gonna give you buses for nothing, we're gonna give you subways for nothing, we're gonna give you food for nothing. This is what Fidel Castro did,' Catsimatidis said. Mamdani, a 33-year-old New York State assemblyman, won the Democratic primary in June on promises of free bus service, free childcare, free tuition for the City University of New York and freezing the rents for more than 2 million residents. 'The people in Venezuela are starving,' Catsimatidis said. 'The people in Cuba are starving. And I think the American people, especially New Yorkers, they're smart and they're going to realize this right away.' In the next breath, the real estate mogul seemed to acknowledge Mamdani's charisma, while also tearing into his relatively thin résumé. 'He has a beautiful smile. He has a good smile. He seems like a nice guy, but it's a con game,' he said. 'He's not qualified to be mayor. The city is a $100 billion enterprise, and you have to be really smart. You have to be able to know your checks and balance, you have to be able to run 300,000 employees.' Still, Mamdani handily defeated former New York governor Andrew Cuomo, who was thought of as the more experienced option in the race. His main opponents in the general will be Cuomo and current mayor Eric Adams, both of whom are running as independents. Former US Attorney Jim Walden and Curtis Sliwa, the perennial Republican option, are also in the race. Catsimatidis sought to handwave away various polls that have Mamdani cruising to victory in November. 'I don't think the polls are really real right now,' Catsimatidis said. 'He doesn't like the Italian people. The Italians are going to be against him. He doesn't like business people. The business people are going to be against him. So I don't think he's that far ahead.' The most recent poll has Mamdani at 50 percent support among likely voters, while Cuomo is in a distant second at 22 percent. Catsimatidis, who ran for mayor himself in 2013, also believes the city won't be able to fund the Mamdani's policies by increasing corporate taxes and income taxes on rich New Yorkers. 'Sooner or later, you're going to run out of money,' he said. 'These union leaders are picking this guy, Mamdani, for what? They were promised a great day. They were promised great numbers. But if the city runs out of money, who's going to pay the pensions?' Catsimatidis's thorough condemnation of Mamdani comes as The New York Times reported that President Donald Trump is weighing getting involved in the mayoral race. Trump reportedly spoke on the phone with Cuomo directly about the state of the race, according to three sources who were briefed on the call. It's still unclear what exactly Trump and Cuomo said to one another or who of the two initiated the unlikely conversation. In early July, Trump publicly said he would arrest Mamdani if he dared to defy raids by Immigration and Customs Enforcement in New York City. He also accused Mamdani of possibly being in the United States illegally, even though he was born in Uganda and became a naturalized US citizen in 2018. 'I think he's terrible. He's a communist,' Trump has said. 'The last thing we need is a communist. I said there will never be socialism in the United States. So we have a communist?' Trump has also been asked about Mamdani's refusal to condemn the use of the term 'globalize the intifada,' a pro-Palestinian slogan that has encouraged violence against Israelis and Jews. Since becoming the Democratic nominee, Mamdani has now said he would discourage the use of the term. 'I think he's, frankly, I've heard he's a total nut job. I think the people in New York are crazy. If they go this route, I think they're crazy,' Trump has said.
