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A lot of offices are still empty — and it's becoming a major risk for the economy

The 777 Tower in downtown Los Angeles' financial district is one of two buildings that Brookfield, the city's largest office owner, defaulted on this year. Arezou Rezvani/NPR hide caption

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Arezou Rezvani/NPR

Business

A lot of offices are still empty — and it's becoming a major risk for the economy

May 16, 2023 • The office property sector is in trouble as many workplaces remain empty, and that threatens to spark a number of economic problems, including more pain at the country's banks.

A lot of offices are still empty — and it's becoming a major risk for the economy

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Companies are shedding office space — and it may be killing small businesses

Cobbler James Wallace Sears has spent decades fixing the shoes of lawyers, consultants and financial advisers who work in nearby corporate towers. With so many of them still working from home, he's not sure his business will survive. Arezou Rezvani/NPR hide caption

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Arezou Rezvani/NPR

Business

Companies are shedding office space — and it may be killing small businesses

May 12, 2023 • With so many people still working from home, companies are cutting back on office space. That spells trouble for small businesses that depend on foot traffic.

Companies are shedding office space — and it may be killing small businesses

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First Republic Bank shares sink to another record low, but stock markets are calmer

The First Republic Bank sign is shown in Oakland, Calif., in front of one of the lender's offices on March 16, 2023. First Republic shares continued to fall on Monday amid concerns about its financial health. Justin Sullivan/Getty Images hide caption

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Justin Sullivan/Getty Images

Business

First Republic Bank shares sink to another record low, but stock markets are calmer

March 20, 2023 • Shares in the midsized lender continued to tumble as fears grow about First Republic's financial health grow even after it received a $30 billion lifeline from its bigger rivals last week.