China Property Woes Deepen With Vanke Slump, Country Garden Halt
One of China’s biggest property firms delayed its earnings report while another posted a record profit decline as the nation’s real estate crisis shows no signs of easing.
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One of China’s biggest property firms delayed its earnings report while another posted a record profit decline as the nation’s real estate crisis shows no signs of easing.
The owners of Saks Fifth Avenue are in talks to raise financing to bolster the cash portion of an offer to buy competitor Neiman Marcus, according to people familiar with the matter, moving two of America’s biggest high-end department stores closer to a deal after years of on-and-off courtship.
Jefferies Financial Group Inc.’s revenue jump — due to strong capital markets and rebounding investment banking — bodes well for the bigger banks due to report in weeks to come.
Blackstone Inc. sold 48 warehouses in Southern California to Rexford Industrial Realty Inc. for $1 billion.
Plunging demand for commodity offices in the US is driving growth for the highest-quality properties, a Morgan Stanley executive said.
Sep 20, 2016
The Canadian Press
BURNABY, B.C. - The British Columbia government is spending $500 million on more rental housing in the province.
Premier Christy Clark announced the money will be used to create 2,900 rental units in a partnership with non-profit groups, local governments, community agencies and the private sector.
The government says it's the largest single housing investment in a single year by any province in Canada.
Clark says the announcement is a significant step towards helping more people find an affordable place to live.
The money will fund a mix of housing for low-to moderate-income earners, seniors, students, adults with developmental disabilities, aboriginals and single parents.
Last week, Finance Minister Mike de Jong announced that an extra billion dollars in real estate taxes and $1.3 billion in higher income taxes helped to boost revenue, allowing some of that money to be used for housing.