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Near-empty office buildings, already a problem plaguing US cities, are becoming a worry for mortgage bondholders as landlords fall behind on repayments at the fastest rate in five years and the difficulty of refinancing the loans grows.
Former chairman says fellow director asked him to get “those two women” off the board. Director says he disagrees with many assertions.
As millions of workers gaped at the thick haze enveloping the Northeast US this week, they faced yet another remote work conundrum: Should they commute in a smoky haze to a well-ventilated office or is it safer to stay home?
Welcome to Social Buzz, a daily column looking at what’s trending on social media platforms. I’m Caitlin Fichtel, an editor on Bloomberg’s Breaking News team, which monitors everything from company statements to tweets from some of the most prominent people in the financial world. Here’s your daily look at what the internet is talking about.
An influx of people and a jolt of federal aid juiced the Sunshine State’s growth — but high housing costs and rising inequality could haunt the governor’s presidential bid
Jan 28, 2022
, Bloomberg News
(Bloomberg) --
Adler Group SA, the embattled German landlord, has postponed the publication of its financial results due to an ongoing investigation into allegations made by a short seller. The shares plunged to the lowest on record.
Adler’s auditors informed the company that “due to the ongoing forensic special investigation on the allegations made by Viceroy Research Report, which should be completed prior to the issuance of an audit opinion, that it is highly unlikely” an audit can be completed on time, the company said in a statement Friday. “Adler Group S.A. will inform the market of a new timeline as soon as possible.”
The company appointed KPMG to conduct a special investigation after short-seller Fraser Perring’s Viceroy Research published a report accusing the landlord of being built on systemic fraud. Adler and its backers including Austrian entrepreneur Cevdet Caner deny the allegations.
Adler was due publish its annual report at the end of March and had said it would publish the findings of the investigation in the first quarter of this year.
The company plunged as much as 23% to the lowest on record. Adler’s bonds fell in the secondary market on Friday following the news. It’s 800 million euro bond due to mature in 2029 fell around 4 cents on the euro to 78 cents, making it one of the worst performing bonds in Europe’s high-yield index.
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