Hong Kong Stocks Are on Their Longest Winning Streak Since 2018
Hong Kong stocks are on their longest-winning streak since 2018, with a growing chorus of market watchers saying the worst of a years-long selloff is probably over.
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Hong Kong stocks are on their longest-winning streak since 2018, with a growing chorus of market watchers saying the worst of a years-long selloff is probably over.
Greg Ward, the Macquarie Group Ltd. banker in charge of the firm’s drive to grab a bigger slice of Australia’s mortgage market, will earn more than the boss of the country’s biggest bank for home loans, as the far smaller rival chips away in the ultra-competitive industry.
Deutsche Bank AG plans to double the assets it manages for rich families in Southeast Asia and the Middle East over the next five years, tapping growing ties between ultra-rich clans in both regions, the lender’s global private banking head said.
The jury in Donald Trump’s hush money criminal trial heard a secret recording in which the former president discussed a payment with his then-lawyer Michael Cohen months before the 2016 election.
A “broken” model in banking is creating issues for financing in the commercial real estate industry, according to Josh Zegen, co-founder of Madison Realty Capital.
Jul 18, 2018
Bloomberg News
,Airbnb Inc. is ramping up its fight against New York officials by providing financial support to a lawsuit against the city.
Stanley Karol, a 56-year-old Airbnb host in Brooklyn, sued the city in federal court Wednesday, accusing officials of retaliating against him for speaking out in support of home rentals. The city imposed fines on Karol that could total more than US$30,000 after he appeared at a council meeting in June, according to the complaint. Airbnb agreed to pay his legal fees in the case, said Christopher Nulty, a spokesman for the company.
The suit was filed just hours before the New York City council is expected to pass a bill requiring Airbnb and other home-rental sites to disclose the names and addresses of hosts. The bill is designed to help authorities crack down on illegal short-term stays. Airbnb opposes the measure, saying it would violate the privacy of law-abiding hosts.
The Airbnb-backed lawsuit is another twist in a nearly decade-long war between the company and New York. Airbnb sued the city and state directly in 2016 over a law restricting short-term sublets. It settled both cases within a couple months. The battle raged on this year, with the city comptroller accusing Airbnb of costing New Yorkers $616 million in rent increases and Airbnb accusing city council members in June of being in the pockets of the hotel industry.
Litigation finance is a controversial new tool for Airbnb. Peter Thiel, the billionaire technology investor and President Donald Trump backer, used it to great effect when he funded Hulk Hogan’s suit against Gawker. Unlike Thiel, Airbnb isn’t trying to hide its involvement in the New York suit.
If the city passes the new law Wednesday, Airbnb would be required to share hosts’ information with the mayor’s Office of Special Enforcement, the same agency Karol has accused of targeting him. Karol received citations for converting his basement into an illegal hotel and failing to meet fire codes, the complaint said.
“People shouldn’t have to worry that when they go home, there’s going to be a knock on the door just because they decided to speak up against the government,” said Andrew Celli, an attorney at Emery Celli Brinckerhoff & Abady LLP, which is representing Karol in the case.