About 250 years after the original 13 colonies declared their independence from England, their commercial real estate markets are facing a very different battle: CMBS office delinquencies. Office distress is not evenly distributed across our nation's first 13 states. Only four states with CMBS office exposure posted delinquency rates below the national average of 16.75%. Connecticut recorded the highest CMBS office delinquency rate among the states at 52.63%, with 13 properties carrying delinquent loans that have a balance of $730 million....

While no tea has been thrown into any harbors just yet, local communities throughout the country have been increasingly pushing back on data-center developments. In fact, a panelist at Trepp Connect (in NYC) in May noted that community pushback is the greatest challenge that data-center developers are facing today. Last year, at least 25 data-center projects throughout the country were canceled because of local resistance, a quadrupling of the number of projects that were canceled in 2024, according to Newmark. Communities oppose...

Recent litigation and policy changes reshape key aspects of US immigration, but uncertainty remains. US immigration policy has undergone a series of notable developments in recent months, particularly in relation to the $100,000 H‑1B visa fee, the administration’s vetting framework associated with Executive Order 14161, and updated USCIS guidance on adjustment of status. While these measures initially introduced significant challenges for employers, subsequent litigation and policy clarifications have begun to reshape how they are applied in practice, offering limited clarity...

The current European banking framework is largely the result of reforms introduced after the 2008 financial crisis. Over the past fifteen years, the EU has developed a single rulebook and strengthened its supervisory and resolution architecture, most notably through the Banking Union. These reforms were designed to enhance resilience, support financial stability and enable more effective crisis management across the Union. Those objectives have broadly been achieved. EU banks now operate with stronger capital and liquidity positions, and the framework...

Key Takeaways Global mobility programs require integrated tax, immigration, payroll, human resources (HR) and duty of care support to manage cross-border compliance, risk and employee well-being. Early global mobility tax planning addresses permanent establishment, transfer pricing and global minimum tax risks while supporting remote work and international assignments. Employee mobility strategies include equity compensation, foreign account reporting and relocation tax guidance to reduce compliance risk and support global workforce planning. Today’s global workforce environment requires organizations to address a broad...