Open for Business: China lifts limits on foreign investors in several economic sectors

Foreign investors can buy up more of the world’s second-largest economy after China updated a regulatory list that had capped investment across several industries. While a trade war brews with Trump White House, China has decided to make good on foreign investment reforms and will now allow foreigners to take more ownership in banks, brokerages[…]

Making six-figs in San Francisco? The government says you might be “low-income”

When high-salaried denizens of the Bay Area call themselves “poor” many people’s natural reaction is an eye roll. But with the cost of living reaching record heights in and around San Francisco, now even the government sympathizes with them. The Department of Housing and Urban Development will classify earners of up to $117,000 a year[…]

Trump plan would mean higher rent for 150k New Jersey families

150,000 poor New Jersey families could soon be facing higher rent. The Trump administration’s policy proposals to increase rent obligations for those living in subsidized housing would affect 99 percent of renters who receive assistance from the Department of Housing and Urban Development, according to a report from the liberal-leaning Center on Budget and Policy Priorities.[…]

Just two percent of NYC buildings make half the city’s CO2 pollution: report

One57, 15 Central Park West, the Baccarat Hotel and Residences—they’re all known for their well-heeled residents and sweeping views. They may also now be known for besmirching Manhattan with climate-changing emissions, according to a new report. A consortium of advocacy groups including New York Communities for Change analyzed public electricity use data and concluded that[…]

A nightclub in Queens is getting replaced by a storage facility

Nightlife in Queens is getting a little less exciting. Illinois-based LSC Development is planning to replace the Woodside nightclub Pure NYC at 62-05 30th Avenue with a two-story storage facility spanning about 103,000 square feet, according to plans filed with the Department of Buildings on Friday. Demolition permits were filed last March. LSC purchased the[…]

Carpenters’ union inches toward independence, but members say monitor ignored problems

It’s been nearly a decade since several members and leaders of the city’s carpenters’ union were last indicted on racketeering and fraud charges. Since then, the New York City District Council of Carpenters has implemented several changes to help keep the group corruption-free. But some think the union hasn’t gone far enough. During a status[…]