Greek Banks Set for First Payouts Since 2008 on ECB Approval
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.
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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.
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.
China’s protracted property downturn is eroding the balance sheets of the nation’s largest state banks as their bad loans creep up.
Two years ago, Dubai became a hot favorite with Russians looking to park money or build new lives after President Vladimir Putin’s invasion of Ukraine. That allure is now dimming as the cost of living in the glitzy emirate surges and its banks get stricter in enforcing US sanctions.
The Bank of Korea warned Thursday that a further slump in the real estate sector would undermine broader economic activity, as it pointed to worsening delinquencies among developers in the latest signal of continuing woes in the credit market.
Feb 13, 2020
Bloomberg News
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Bankers and fund managers are buying top-end London homes at a rate unseen since 2013 as concerns about the city’s post-Brexit future recede.
The share of homes sold for more than 2 million pounds ($2.6 million) in the U.K. capital’s toniest neighborhoods rose to 34.6% last year, according to data from broker Knight Frank. That’s the third straight increase since 2016, when Britain voted to leave the European Union.
London’s luxury property market was in the doldrums in recent years, weighed down by increases in property sales tax, additional levies on foreign buyers and the political chaos of the Brexit negotiations. That began to change last year as the threat of a disorderly Brexit diminished, especially after the Conservative Party’s conclusive election victory. Across London’s priciest neighborhoods, such as Mayfair and Chelsea, home sales increased by 34% in the last three months of the year, according to LonRes.
“As initial uncertainty surrounding the impact of Brexit fades, it is unsurprising to see this translate into higher activity levels among finance workers in London’s prime housing market,” Tom Bill, head of London residential research at Knight Frank, said in an emailed statement.
To contact the reporter on this story: Eddie Spence in London at espence11@bloomberg.net
To contact the editors responsible for this story: Shelley Robinson at ssmith118@bloomberg.net, Patrick Henry
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