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Vingroup founder Pham Nhat Vuong plans to give at least $1 billion more from his personal wealth to the company’s EV maker unit VinFast Auto Ltd. to fund its global expansion, he said at Vingroup’s shareholders’ meeting in Hanoi.
Investors are looking for the next policy domino to fall in Asia amid an escalating campaign against a resurgent dollar, after Indonesia used a surprise interest rate hike to defend the rupiah.
When it comes to Chinese real estate, John Lam is a lone wolf.
Analysts upgraded their forecast for China’s growth this year after a better-than-expected performance in the first quarter — but they see more signs that the world’s second-biggest economy will struggle to escape from deflationary pressures.
A rash of failures of A-rated insurers points to a hidden weakness in the market, researchers say.
May 4, 2021
, Bloomberg News
(Bloomberg) -- KKR & Co has renewed its lease for office space at a San Francisco tower owned by Vornado Realty Trust and the Trump Organization.
The 52-story building at 555 California St. now has an occupancy rate of 98%, Vornado said Tuesday on its earnings call. Bank of America Corp. and Goldman Sachs Group Inc. have also renewed leases at the skyscraper.
Last year, Vornado tried selling 555 California and Manhattan’s 1290 Avenue of the Americas, which it also owns with Trump. It shelved those efforts and turned instead to refinancing.
Read more: Trump Scores $617 Million of Cash With Vornado From Tower Bonds
On Friday, investors snatched up $1.2 billion of bonds linked to 555 California in a refinancing deal that gives Vornado and Trump a $617 million payout.
While Vornado majority owns both 555 California and 1290 Avenue of the Americas, Trump’s 30% stake in those properties is the most valuable part of his portfolio, making up about a third of Donald Trump’s $2.3 billion fortune, according to the Bloomberg Billionaires Index.
©2021 Bloomberg L.P.
