Banks Warn of Growing Energy-Related Risks in Mortgage Portfolios
Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
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Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
South Korea’s top financial watchdog attempted to revive optimism over the nation’s corporate reform initiatives to investors in New York while soothing concerns over the short-selling ban.
Inflation-related releases across the Group of Seven will prime central bankers for crucial June interest-rate decisions, just as they meet in Italy to discuss the state of the world economy.
Big US bond investors have been aggressively shifting money into long-dated notes, betting that the unloved asset class will be one of the winners from eventual interest rate cuts.
A measure of underlying US inflation cooled in April for the first time in six months, a small step in the right direction for Federal Reserve officials looking to start cutting interest rates this year.
Mar 10, 2017
Reuters
,A class-action lawsuit seeking the return of deposits has been launched against the developer of a downtown Toronto hotel bearing the name of U.S. President Donald Trump, the lawyer who won an earlier test case for disgruntled investors said on Friday.
The lawsuit filed against Talon International Inc in the name of Ashleka Persaud can be joined by as many as 210 other purchasers who paid deposits to buy hotel units in the tower but did not close their transactions, the filing said.
A lawyer for Talon was not immediately available to comment.
The Trump International Hotel & Tower has been beset by troubles since opening its doors in 2012, and ownership of the tower itself looks set to fall to its main debt holder after a court-run sale process received no bids last month.
Talon, which licensed the Trump brand and hired a Trump-owned company to manage it, was ordered in October to pay damages to one buyer for "negligent misrepresentation" and for another sale to be rescinded. Those buyers were represented by Mitchell Wine, the same lawyer handling the new case.
The Supreme Court of Canada earlier this week dismissed Talon's request for it to hear an appeal of the lower court ruling.
The expansion of similar payouts to all buyers of the tower's hotel units, which were placed into a pool of rooms to be rented out at luxury rates, could amount to a total of $25 million, the filing said.
The case is: Persaud v Talon; Ontario Superior Court of Justice file no: CV-17-569023-00CP