- Fitch to Score Building Sector on Climate Change Vulnerability “Fitch Ratings will publish climate vulnerability scores for each corporate sector beginning in June, in an effort to lay the groundwork for individual company ratings in the future, the company announced. The move comes ahead of expected federal disclosure rules for companies regarding their exposure to the effects of climate change.” (Commercial Observer)
- Macy’s Sees a Path Forward in Large Box Retail Formats “The retailer is reformatting its strategy to better serve new consumer needs, which includes small store footprints, like Market by Macy’s; however, the strategy will include exposure to malls and large-format stores as well.” (GlobeSt.com)
- Walmart, Target, And Other Mega Retailers Leverage First-Party Data To Become New Media Giants “Now that Walmart reports its own ad-selling business has tipped over the $2 billion mark, it’s more clear than ever that marketers are spending their ad dollars in ways they never did before and that the competition for brands’ advertising has reached a new level of fragmentation, with retailers coming into their own as sellers and not just buyers of ads on others’ media platforms.” (Forbes)
- New York AG Investigates Real Estate Giant for Helping Trump “As the New York attorney general investigates the Trump Organization for cooking up fake property values on official documents, lawyers revealed Monday that one of the world’s largest commercial real estate companies is also under investigation for its role in the scheme: Cushman & Wakefield.” (Daily Beast)
- Return-to-office is driving Gen Z to quit “These young workers may have joined the workforce during the pandemic, where remote work has become more common. They may have become used to seeing coworkers through screens and not having to wake up early to sit at an office desk.” (Insider)
- Supreme Court Rubs SALT in the Wounds of the Real Estate Market “However, for over 100 years prior to 2017, individual taxpayers had been able to deduct SALT on their federal income tax without limitation. For many, this deduction was an incentive to own a home and live in a high-tax area.” (Commercial Observer)
- SEC looking into EB-5 fraud allegations against Queens developer “The Securities and Exchange Commission is investigating a Queens developer following allegations that he used EB-5 program funds to purchase a trio of mansions on Long Island.” (The Real Deal)
- Bye Bye Birdie? Will Elon Musk Take The Twitter HQ To Texas Following Buyout? “Though earlier this month Musk suggested turning the San Francisco headquarters into a homeless shelter, an idea which has attracted the attention and approval of other billionaires such as Jeff Bezos, Musk’s history of broken promises and undelivered big ideas has created uncertainty about the likelihood of such a move.” (Bisnow)
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