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30/07/2024
🏢💼 Breaking: New Record for Empty Offices in the US! 💥📉https://www.wsj.com/real-estate/commercial/offices-around-america...
17/01/2024

🏢💼 Breaking: New Record for Empty Offices in the US! 💥📉
https://www.wsj.com/real-estate/commercial/offices-around-america-hit-a-new-vacancy-record-166d98a5

From January 15 to 19, 2024: L'Opinion reveals, "Historically vacant offices in La Défense, while Paris thrives." Major corporations are hunting for smaller, yet central and well-connected spaces to entice employees.

The office vacancy rate now hits nearly 16% in La Défense, a historic high surpassing the 2013 crisis, in contrast to 2.3% in the central business district of Paris, according to the Immostat barometer.

Watch out for cobwebs. Come next fall, French employees of the giant temp agency Manpower will be the first occupants of the Landscape tower in La Défense, delivered two years ago after years of construction. Meanwhile, Peugeot's former headquarters in Paris, near Porte Maillot, secured tenants two years before completion during a full restructuring phase, as reported by L'Opinion.

Despite La Défense's excellent connectivity, its vast spaces struggle to find takers, echoing the US situation: "Offices Around America Hit a New Vacancy Record: 19.6% of office space that isn't leased since 1979," a somewhat misleading title to soften its impact. In 1979, there were not only fewer companies but also fewer residents, not to mention the sheer square footage. Read more in the WSJ.

Zero Hedge (ZH) concurs: "New data from Moody's shows that 19.6% of office spaces in major US metropolitan areas were unleased in Q4 2023, surpassing the previous record of 19.3% during the commercial real estate downturn between 1986 and 1991.

In a previous report, the Mortgage Bankers Association found that $117 billion in commercial real estate (CRE) office debts are due for repayment or refinancing this year.

This debt is concentrated in Democrat-led cities like New York (Manhattan), San Francisco, Chicago, and Los Angeles. Unless the Fed aggressively starts cutting rates by March, owners will struggle to refinance this debt."

Translation: Banks' losses are set to skyrocket in 2024, potentially triggering bankruptcies. 💼📈 🌐💔

The 19.6% of office space that isn’t leased in major U.S. cities is the highest since at least 1979.

📉💼 Citi's Bold Move: Slashing 20,000 Jobs to Revamp and Reap Savings 💰🔍https://www.bloomberg.com/news/articles/2024-01-1...
17/01/2024

📉💼 Citi's Bold Move: Slashing 20,000 Jobs to Revamp and Reap Savings 💰🔍

https://www.bloomberg.com/news/articles/2024-01-12/citigroup-to-cut-20-000-roles-in-fraser-s-bid-to-boost-returns

In a strategic maneuver, Citigroup Inc. has announced plans to cut 20,000 roles, projecting a cost-saving windfall of up to $2.5 billion. This drastic measure is spearheaded by CEO Jane Fraser, aiming to catapult the financial behemoth's lackluster returns to new heights.

🏦 Citigroup anticipates firmwide expenses to dwindle, reaching a target range of $51 billion to $53 billion by the close of 2026. However, this transformation comes at a price, with an expected expenditure of up to $1 billion this year allocated to severance payments and Fraser's comprehensive restructuring of the bank.

💼 Fraser, undeterred by challenges, is steering Citigroup toward a leaner and more efficient future. As fixed-income trading revenue hits a five-year low in the quarter, the bank is pivoting in response to market shifts and aiming to emerge stronger in the ever-evolving financial landscape.

🌐 For more insights on this strategic move and the evolving financial dynamics, stay tuned to Bloomberg. 💹🌪️

Citigroup Inc. said it will eliminate 20,000 roles in a move that will save it as much as $2.5 billion as part of Chief Executive Officer Jane Fraser’s quest to boost the Wall Street giant’s lagging returns.

17/01/2024

🌎 Everyone agrees that over the past 15 to 20 years, A LOT has changed – and FAST! Everything has changed! 🚀 But when it comes to investing, most people are still stuck in their old habits. 🔄

Guess what? The strategies from 10 or 15 years ago DON'T work anymore! The landscape has evolved! Asset management has transformed! 📈

You're facing real predators! 💼 Whether in politics or finance... and don't even get me started on the medical field, it's gone down the same path! 🏥

It's time to wake up, my friends! ⏰ 🌐💹

17/01/2024

At the DAVOS summit in Switzerland, our top decision-makers are shaping our collective future.

The standout revelation?

The schedules of luxury es**rts and premium es**rt girls are fully booked!

A surprising priority or a sign of the times? 🌐💼

What's on the menu this year? Well, The New York Post described: "Caviar, magic mushrooms, gold-leaf desserts, A-list selfies, $2,500-per-night hookers and secret dinners.

https://www.zerohedge.com/geopolitical/dark-davos-es**rt-services-completely-booked-wef-begins

Here We Go !
17/01/2024

Here We Go !

As expected,   continued its descent towards 0.35/0.34! However, the chaos is holding strong! Things could shoot up dram...
16/01/2024

As expected, continued its descent towards 0.35/0.34! However, the chaos is holding strong! Things could shoot up dramatically if Bitcoin and/or altcoins make a comeback to their peaks... We'll know soon, my friends! Now is the time to grab some ! Not financial advice, but damn, it seems like a brilliant idea!

Targeting 0.045 / 0.050 / 0.070 in the next few days/weeks tops!

Place your bets, you bunch of legends! 🚀💰

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