A parking lot near the Intrepid Museum along the Hell’s Kitchen waterfront is about to become housing. Developers Gotham Organization, Fisher Brothers and Mural Real Estate Group have been chosen by Gov. Kathy Hochul to transform the 50,584-square-foot parking lot at 621 West 45th Street into two residential towers containing about 1,127 new homes, the…
CPC Mortgage Company, a subsidiary of The Community Preservation Corporation, has structured a $42.1 million loan for the preservation and rehabilitation of Parkside Estates and Demby Terraces, a 315-unit affordable housing community in Inkster, Michigan. Developed by Good Housing Partnership in partnership with the Inkster Housing Commission, the properties will undergo a full rehabilitation and…
Open payment platform provider Spreedly on Wednesday (July 15) announced the launch of a standalone payment vault, a move that allows merchants to store and manage customer credentials without committing to the company’s full payments orchestration suite. The decision to unbundle the vaulting service reflects a broader shift in the financial technology sector toward merchant-controlled…
The upcoming launch of Open Standard’s Open USD (OUSD) stablecoin could pose an “existential threat” to Circle’s USDC, but it depends on how things play out, a CoinShares analyst said Monday (July 13). In a note posted Monday, CoinShares Senior Ethereum Research Associate Luke Nolan wrote that one of the potential strengths of OUSD is…
ET Intelligence Group: Grasim Industries‘ acquisition of Sprng Energy is a strategic bet on India’s fast growing solar power sector, which is expected to help its renewable energy business outpace the group’s overall revenue growth. Revenue of renewable energy business is estimated to surge 382% to ₹4,446 crore by FY28, compared with a 31% anticipated…
The x402 protocol, an open standard designed to support agentic payments, has a new open-governance body that includes 40 organizations. The launch of the x402 Foundation was announced by the Linux Foundation in a Tuesday (July 14) press release. The x402 Foundation is dedicated to building an open, vendor-neutral payment standard over HTTP and standardizing internet-native payments for…
Key takeaway: Federal Reserve Gov. Lisa Cook said the Iran war and the rapid buildout of AI data centers reinforce her view that inflation will remain persistent. Expert quote: “If we do not see signs of disinflation soon, I am prepared to act. I am fully committed to reaching our inflation target, and this commitment is…
When Dubai chocolate went viral on TikTok in 2024, several major confectionery brands didn’t launch competing versions until after the trend had already peaked. That lag from trend signal to store shelf is the central operational problem for large consumer packaged goods (CPG) companies in the social media era. Artificial intelligence (AI) platforms are now…
Exposure to the artificial-intelligence boom has become virtually impossible for investors to avoid. The theme hasn’t just cornered the stock market. It has systematically swallowed up corporate credit and venture capital, too.
Mumbai: HDFC Life and ICICI Prudential Life reported healthy profit expansion in the June quarter, driven by steady premium growth, stable value of new business (VNB) margins, and a rising contribution from protection products. HDFC Life reported a 12% year-on-year rise in net profit to ₹611 crore, while ICICI Prudential Life’s profit after tax increased…