Amazon Bets $150 Billion on Data Centers Required for AI Boom
Spending spree is a show of force as the company looks to retain cloud computing edge over Microsoft and Google.
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Spending spree is a show of force as the company looks to retain cloud computing edge over Microsoft and Google.
China’s largest state owned bank posted scant gains in earnings for last year as margins weakened.
The European Central Bank will allow Greek banks to make their first shareholder payouts in over a decade as the country emerges from a painful post-crisis restructuring.
China’s protracted property downturn is eroding the balance sheets of the nation’s largest state banks as their bad loans creep up.
Embattled German landlord Adler Group SA has asked its bondholders for permission to sell an unfinished apartment development at a 47% discount to its 2022 valuation, as the company races to repay its vast debt load.
Apr 30, 2019
Bloomberg News
,Brookfield Asset Management Inc.’s New York-based real estate unit plans to start an opportunity-zone fund, joining the roster of financial firms in taking advantage of new U.S. tax breaks for investing in low-income communities.
“We are launching a fund in the next month or two,” Brookfield Property Partners LP Chief Executive Officer Brian Kingston said Monday at the Milken Institute Global Conference in Beverly Hills, California.
Goldman Sachs Group Inc., Starwood Capital Group, hedge fund EJF Capital LLC and New York-focused RXR Realty LLC are among firms that have begun making investments in opportunity zones or are raising money to do so. The government incentives are meant to encourage development in areas “that are otherwise crippled,” Kingston said.
Real estate is attracting more interest from institutions including sovereign and pension funds seeking to hedge against long-term liabilities, Kingston said. Brookfield is invested in 30 countries including Brazil, Colombia and Chile, and probably won’t ever be in more than 35, in part because of a focus on strong rule of law and respect of private capital, he said.