The London offices of Cantor Fitzgerald International and eSpeed International have reported thatthey are "doing everything possible to assess the situation at their world headquarters at One World TradeCenter in New York City," which has been active in serving the mortgage-backed securities market. Both companies had operations on the 101st, 103rd, 104th, and 105th floors. Approximately 1,000 peopleare employed by the two companies at the World Trade Center. At midday Wednesday, the companies said they wereunable to determine how many employees were in the building at the time of the attack or whether they were safelyevacuated. "All of our thoughts and prayers are with our [New York] colleagues and their families and friendsat this time," said Howard W. Lutnick, chairman of both companies. "In a very difficult and confusedsituation, we are doing all that we can to determine more about the situations of colleagues." The companieshave asked anyone who can confirm the safety of any of the affected employees to phone 212-704-8188. Relativesand friends who wish to inquire about employees should call, from inside the U.S., 1-866-326-3188 or 011-44-20-78947321 and, outside the US, +44 (0)20 7894 7321. The eSpeed website in the United Kingdom will also provide updates.Its address is http://www.espeed.co.uk.
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Federal Reserve Chair Jerome Powell said during his regular press conference Wednesday that the process of determining tariff-related price increases was always going to be slow, but it has taken longer than he expected.
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Still, Redwood Trust lost $100 million on a GAAP basis for the period, a result of its previous decision to pivot to a scalable operating model in mortgages.
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