INFLATION

The Labor Department released numbers indicating that U.S. wholesale prices have increased 3.4 percent over the past year, the biggest 12-month increase since a 3.7 percent uptick in November 2011. Read more at Washington’s Top News.

 

DEVELOPMENT

Data from the New York Department of Buildings shows that the city’s outer boroughs are outpacing Manhattan in new construction in the second quarter of the year. The agency approved over 750 new building permits in Brooklyn, 614 in Queens and 400 on Staten Island. The same areas also received a large number of demolition permits. Read more at Crain’s New York.

 

COWORKING

Coworking provider Convene garnered $152 million in investments in its Series D round of funding, bringing its total equity to $260 million. The firm will use the funds to support plans for expansion with a goal to have 23 locations in five cities over 700,000 square feet by the end of the year. Read more at BisNow.

 

INFRASTRUCTURE

The U.S. Army Corps of Engineers has proposed building a $20 billion steel and concrete barrier separating the New York Harbor from the Atlantic Ocean to protect the city from storm surges. Read more at Curbed New York.

 

INTERNATIONAL INVESTING

According to data from the U.S, Bureau of Economic Analysis, foreign investments to acquire, launch or expand businesses in the country was down 32 percent in 2017, totaling $259.6 billion versus $439.5 billion in 2015. Read more at CNN.