Fees from advising on deals, stock offerings and bond sales are down more than 40% from this time last year, wiping out more than $50 billion in revenue. That is the biggest year-over-year dollar decline on record, worse even than in the financial crisis.

Households headed by people ages 65 to 74 have an average retirement-account savings of $426,000.

Americans stick with the same primary checking and savings accounts for about 17 years on average, that is longer than the average marriage.

Highgate announced it will acquire hotel brand Viceroy Hotels & Resorts for an undisclosed sum, adding Viceroy’s 11 hotels in operation and two under development to its portfolio.

Some big hedge-fund winners in 2022 will return some profits to clients highlighting their banner year.

At least two-thirds of CEOs of the biggest companies surveyed said they expected the next six months to bring worsening customer demand, industry conditions, access to capital, and domestic and global growth. By contrast, among both midsize company CEOs and large investors, two-thirds or more expect improvement in the same areas over the next six months.

Higher interest rates and the threat of a recession are expected to considerably slow commercial real estate leasing and investment activity across the board in 2023.

Fifth Wall Ventures Management LLC raised the largest-ever venture fund focused on real-estate technology companies, a sign that some major investors are still bullish on property startups despite this year’s surge in interest rates. The $866 million fund will invest in both early- and late-stage startups.

In projections released this week, the central bank expects to raise rates ultimately to 5.1% by the end of 2023, a half-point higher than projected in September, and lower them only to 4.1% by late 2024.

The SBA issued roughly $390 billion in Covid disaster loans to nearly four million small businesses and nonprofits. Unlike forgivable loans issued through the federal Paycheck Protection Program, the disaster loans were designed to be repaid. Borrowers began repaying 427,000 loans in October or November. For 1.2 million Covid disaster loans, the first payments are due this month; another one million loans enter repayment in January.