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Inside the Nightmare at 345 Park Avenue, a Manhattan Office Tower Under Attack

By Jennifer Williams

Good morning. The nightmare that unfolded for employees at firms including Blackstone and KPMG; consumer confidence improves; plus, earnings reports show signs of tariff-induced stress.

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New York police officers responding Monday to the shooting. PHOTO: VICTOR J. BLUE/BLOOMBERG

Jon Ferrer was working late Monday evening, reviewing tax returns and trying to get a head start on the week. The KPMG senior tax associate said he heard a faint alarm when he was in the bathroom, but thought nothing of it.

Then an associate walked over to his desk and gave him the horrifying news: There was an active shooter in their office building. “My heart sank to my stomach,” Ferrer said.

He was ushered into a partner’s office with about 15 co-workers, as colleagues pushed a desk across the door and put blankets up on windows in the room. They sat together in a circle.

As a gunman rampaged through 345 Park Ave., an unthinkable nightmare unfolded for the thousands of employees who work at the landmark New York office tower, home to the private-equity giant Blackstone and KPMG, as well as the National Football League.

In the end, four people were killed—an off-duty police officer, a security guard, a senior Blackstone executive and a real-estate firm employee—while others were hospitalized with injuries. The shooter, 27-year-old Shane Tamura from Las Vegas, left a suicide note saying he believed he was suffering from chronic traumatic encephalopathy, a brain disease associated with head injuries, and he was apparently blaming the NFL.

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The Day Ahead

📆 Earnings

  • Carvana
  • eBay
  • Ford Motor
  • GSK
  • Hershey
  • Kraft Heinz
  • Qualcomm
  • Robinhood Markets

📈 Economic Indicators

ADP releases its National Employment Report for July.

The Bureau of Economic Analysis releases its advance estimate of second-quarter gross domestic product growth.

The National Association of Realtors releases its Pending Home Sales Index for June.

The FOMC announces its monetary policy decision.

 

What Else Matters to CFOs

Although American consumers’ economic mood improved, it remained clouded by concerns about tariffs and the labor market. PHOTO: DAVID PAUL MORRIS/BLOOMBERG NEWS

American consumers’ economic mood improved this month, but remained clouded by concerns about tariffs and the labor market, according to The Conference Board, a research group that runs a monthly survey.

The Conference Board’s consumer-confidence index climbed to 97.2, from 95.2 in June, the group said Tuesday. The forward-looking expectations index improved to 74.4, from 69.9 last month. Nonetheless, the survey creators say expectations levels below 80 often signal a recession is ahead.

  • Fed Governors Could Break Ranks as Trump Intensifies Powell Pressure

A look at consumer spending trends, according to the latest earnings:

  • Starbucks Abandons Mobile Order, Pickup-Only Stores
  • Visa Profit, Sales Rise on Resilient Consumer Spending
  • Gucci Owner Kering Posts Sales Drop Amid Lingering Weak Demand
  • L’Oreal Logs Higher Sales Amid North America, China Recovery
  • Spotify Gains Subscribers but Posts Loss
 ‏‏‎ ‎

📰 Other headlines

  • S&P 500 Breaks Winning Streak
  • Sysco’s New Compensation Model Cost It Customers Last Year. Now It’s Paying Off, CEO Says.
  • Exclusive: JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program
  • UPS Shares Decline as Lack of Guidance, Weaker Results Show Prolonged Challenges
  • UnitedHealth Continues to Struggle as Rising Medical Costs, Shortfalls Affect Business
  • Novo Nordisk Shares Plummet as Competition Weighs on Sales
  • A Megamerger Creates America’s First Coast-to-Coast Rail Operator
 ‏‏‎ ‎

“The 15% is not that far from the assumption we were working on. We consider that this is manageable through price adjustments.”

—Armelle Poulou, finance chief of Gucci-owner Kering, as the trade agreement between the EU and the U.S. brings relief to Europe’s luxury industry.
 ‏‏‎ ‎

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About Us

The Wall Street Journal's CFO Journal offers corporate leaders and professionals CFO analysis, advice and commentary to make informed decisions. We cover topics including corporate tax, accounting, regulation, capital markets, management and strategy.

Follow us on X @WSJCFO. The WSJ CFO Journal Team comprises reporters Kristin Broughton, Mark Maurer and Jennifer Williams, and Bureau Chief Walden Siew.

You can reach us by replying to any newsletter, or email Walden at walden.siew@wsj.com.

 
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