SL Green Realty plans to develop an office tower in Manhattan's Financial District close to the World Trade Center that could be as large as 200,000 square feet. It has received permits to demolish three buildings it owns at 183 and 187 Broadway and 5-7 Dey Street, and also appears to be prepping to answer the Metropolitan Transportation Authority's request for proposals to buy 62,750 square feet of unused air rights next door to the development.

Post-crisis financial regulations discouraging banks from holding bonds that count against their capital reserves have given large asset managers an advantage over smaller players. Large firms have begun to fill the void created by banks, stockpiling bonds and setting prices, while small firms don't have the capital to employ these strategies, widening the gap between large and small firms' returns.

The role of investor relations has expanded to encompass a range of responsibilities from strategic planning to corporate responsibility. Building strong relationships with internal and external stakeholders will help IR professionals meet these new demands.

Firms are having to evaluate the value of research they perform and distribute as regulatory changes focus on the cost of research. Pumping out content with no regard for value is no longer feasible.

US multifamily REITs' operating performance will continue to decelerate this year, according to Moody's Investors Service. However, long-term fundamentals still favor renting versus owning, and multifamily REITs continue to have a strong credit profile with low leverage and plenty of liquidity, according to the ratings agency.

Sales of previously owned homes in the US in May recovered from a sharp decline in April, and strengthening demand from homebuyers drove up the prices sellers were able to demand, the National Association of Realtors said. Sales rose 1.1%, and the median selling price surged 5.8%.

J. Crew's lenders have signed off on a plan to amend loan agreements and extend the maturity date on $566.5 million in debt that was set to mature in 2019. The deal will give the fashion retailer more time to turn around decreasing sales.

J.C. Penney has refinanced $2.35 billion in debt and extended the maturity date to 2022, further strengthening its financial position after paying off $300 million in debt last month. The moves come as the retailer is working to expand sales in several categories including women's apparel, appliances and home goods.

Federal Reserve Bank of Chicago President Charles Evans says that while the Fed may hold off on another rate increase to see what happens with inflation, it will likely begin to sell assets off of its balance sheet sooner. Most Fed officials expect to see one more rate increase this year.

Analysts expect the Federal Reserve to announce today that all 34 banks that underwent an annual stress test overcame hypothetical hurdles. However, a 35% decrease in commercial real estate prices in the test would have been especially trying for banks with high exposure to this sector, analysts say.

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