State Farm General, California’s largest home insurer, is being accused of boosting the profits of its parent company at the expense of state policyholders — while claiming it’s in financial distress and in need of a 30% rate hike. The company bought hundreds of millions of dollars of excess reinsurance from parent State Farm Mutual…
The “flight to quality” that’s benefitted owners of prime Manhattan properties is remarkably mirrored in London, the market that’s most relevant to New York’s. According to Knight Frank, the UK’s leading property management and leasing firm, vacancy rates have plunged in the most desirable London submarkets and in the newest office towers especially — which should…
It’s build-or-bolt time for BXP on Madison Avenue. The developer is itching to build a skyscraper at 343 Madison between East 44th and 45th streets, which is currently a block-long, empty lot owned by the MTA. But it needs an anchor tenant before the striking, 46-story, 950,000 square-foot tower — designed by Kohn Pedersen Fox…
Amid mounting pressure from Hollywood to bring production and entertainment jobs back to California, Gov. Gavin Newsom unveiled plans Sunday to significantly raise the annual cap on the state’s film and TV tax incentive program. During a news conference held at Hollywood’s Raleigh Studios and attended by Los Angeles Mayor Karen Bass, as well as…
On a Saturday night at North Hollywood’s Club Cobra, a drag queen dressed as Miley Cyrus lip-synced to “Zombie” by the Cranberries, with Halloween decor and disco balls dangling from the ceiling. Muscular go-go dancers grooved in a cloud of rainbow fog while patrons vibed to hits by Selena and Bad Bunny. It wasn’t easy…
They’re hedge fund operators, cryptocurrency and AI promoters, scions of and heirs to family fortunes, and others who have it all and want to keep it all. They’re the billionaires who have lined up to support Donald Trump’s reelection campaign with tens of millions of dollars, even hundreds of millions, in donations. The eye-catching torrent…
Struggling B. Riley Financial said Tuesday that it had sold its interests in its apparel and Brookstone brands for about $236 million — the second such asset sale in a month as it works to pay down debt related to a buyout deal that turned sour. The Westwood-area financial services firm sold its Hurley, Justice…
It’s official. The jig is up Those who commit workplace “sins” have been warned to be on the lookout, as bosses continue to crack down on rule-breakers both in Australia and overseas. In a bid to increase efficiency, “perk police” are being deployed by large companies to seek employees who commit minor infractions that could…
The U.S. Environmental Protection Agency has awarded the Port of Los Angeles more than $400 million to support its transition to electric cargo-moving equipment — a major boost to efforts aimed at curbing pollution at America’s busiest container port. The so-called Clean Ports grant, announced Tuesday, is part of a larger $3-billion initiative to deploy…
“Well, Felix, this elects me.” The speaker was Franklin Delano Roosevelt, who was at home in Albany with his friend and advisor Felix Frankfurter, monitoring radio reports of a political disaster unfolding in Herbert Hoover’s Washington. It was 1932. Hoover had dispatched the military to break up a camp of World War I veterans who…
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