Author: Money Mechanics

Short-term rental giant Airbnb has shelled out a whopping $81.5 million for an infamous New York City building that gained widespread attention when scammer Anna Delvey tried to lease it as the headquarters for her so-called social club. The San Francisco–based company has revealed itself as the buyer of the historic property at 281 Park Avenue South, which it will use as its first owned office in New York City—despite the fact that the Big Apple has taken significant steps to ban Airbnb and other short-term rentals from operating in the city.Airbnb worked with Serhant founder Ryan Serhant and global…

The Iran War, tariffs and the demand-driven AI-investment boon could add up to create inflationary conditions where Federal Reserve policymakers would need to consider interest-rate hikes later this year. But not just yet.  According to the minutes of the June Federal Open Market Committee meeting, policymakers at the central bank were concerned about high inflation but needed more data before making a move on the benchmark Federal Funds Rate. The data could also signal that rates should continue to hold for a while or even go lower sooner than many expected. The minutes do not name participants so Fed watchers…

Before New York City voted to freeze rents for more than 1 million rent-stabilized apartments, one member of the Rent Guidelines Board tried to make a point about the buildings themselves.“As the owner’s representative, my primary concern is ensuring that rent-stabilized buildings…” Maksim Wynn began, before a raucous crowd drowned him out with chants, whistles, and boos.He was trying to raise a question about whether landlords could keep up with repairs and rising operating costs if rents remained flat. The crowd was focused on a different reality: the growing number of tenants already spending too much of their income on…

India on Thursday approved a manufacturing joint venture between China’s Vivo and local manufacturer Dixon Technologies, a move that could mark the next phase of the country’s smartphone manufacturing boom after Apple helped turn India into a global smartphone production hub. The approval allows Vivo to proceed with a long-delayed manufacturing partnership first announced in December 2024, after New Delhi cleared the investment under investment rules introduced in 2020 that require extra government scrutiny of investment from countries sharing a land border with India — a category that includes China. The joint venture will acquire certain manufacturing assets from Vivo,…

(By Oil & Gas 360) – The global oil market is undergoing one of its most significant structural shifts in decades, and much of that transformation is taking place across the Americas. What was once viewed primarily as a collection of regional production basins is evolving into an integrated export platform that is increasingly supplying Europe and Asia while reshaping global crude flows. This change has implications that extend far beyond production growth. It is altering pricing relationships, investment priorities, commercial strategy, and the skills required to compete in an increasingly interconnected energy market. For much of the modern shale…

U.S. equities were mixed in June as market leadership broadened beyond the mega-cap technology stocks that had driven much of the year’s gains. The Russell 2000® Index advanced 3.6%, outperforming the S&P 500® Index, which declined 1.1%, while the Cboe S&P 500 Equal Weight Index (SPEQX) gained 2.2%. In contrast, the Cboe Magnificent 10SM Index (MGTN) fell 9.2%, reflecting a rotation toward smaller-cap and more broadly diversified equities exposure.Volatility remained relatively subdued despite the shift in leadership. The Cboe Volatility Index® (the VIX® Index) rose from 15.3 to 16.5 during the month, while the Cboe SPX Constituent Volatility Index (VIXEQ)…

Pic Shows marchers carrying some placards calling for Aborigine land rights and protest on pension poverty.Scenes at labor day march through city streets this morning. October 02, 1972. (Photo by Bob (Robert) Rice/Fairfax Media via Getty Images).Fairfax Media via Getty ImagesPresident Trump has now said more than once that he likes something about Australia’s retirement system. That has made everyone nervous, confused, or both.Whenever an American president praises private accounts, people hear the old alarm bell: privatize Social Security. But that is not the best reading of what Trump is floating. The better frame is this: not privatizing, hybridizing.At the…

Music producer Jack Antonoff and actress Margaret Qualley have reportedly called it quits on their “rocky” three-year marriage—and insiders are now alleging that the rift in their relationship began with a struggle to balance their demanding careers with their lives at home. Antonoff, 42, who is perhaps best known for his work with Taylor Swift, and Qualley, 31, who is the daughter of Hollywood star Andie MacDowell, first met in 2021 and tied the knot two years later in a very private ceremony held in his home state of New Jersey.In recent weeks, their marriage has been the subject of…

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. July 09, 2026 Federal Reserve announces the leadership and objectives of its task forces to advance the conduct of monetary policy For release at 3:00 p.m. EDT The Federal Reserve on Thursday announced the leadership and objectives of its task forces to advance the conduct of monetary policy. “The Federal Reserve’s commitment to price stability and maximum employment is unwavering. As is our resolve to pursue our mandate with rigor,” said Chairman Kevin…

New York’s silver vaults are refilling, which looks bearish, and yet the tightness didn’t vanish, it just moved to Shanghai, where buyers now pay roughly 11% over the world price. has spent the last two weeks looking like a market that lost its story. The metal sits near $61.50, gold trades around $4,150, and the gold-silver ratio has settled near 67. Silver is down about 13% from its end-2025 close near $71 and roughly 49% below the January 29 all-time high of $121.62, though still up close to two-thirds from a year ago. On the surface, that is a soft…