China Property Woes Deepen With Vanke Slump, Country Garden Halt
One of China’s biggest property firms delayed its earnings report while another posted a record profit decline as the nation’s real estate crisis shows no signs of easing.
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One of China’s biggest property firms delayed its earnings report while another posted a record profit decline as the nation’s real estate crisis shows no signs of easing.
The owners of Saks Fifth Avenue are in talks to raise financing to bolster the cash portion of an offer to buy competitor Neiman Marcus, according to people familiar with the matter, moving two of America’s biggest high-end department stores closer to a deal after years of on-and-off courtship.
Jefferies Financial Group Inc.’s revenue jump — due to strong capital markets and rebounding investment banking — bodes well for the bigger banks due to report in weeks to come.
Blackstone Inc. sold 48 warehouses in Southern California to Rexford Industrial Realty Inc. for $1 billion.
Plunging demand for commodity offices in the US is driving growth for the highest-quality properties, a Morgan Stanley executive said.
Jan 28, 2019
Bloomberg News
,Canadian Finance Minister Bill Morneau said he’s not considering any additional regulations to address the growth of private mortgage lenders.
“I’m not currently considering any stress tests on private mortgage lenders,” Morneau told reporters in Ottawa. Asked if he was concerned about the rise in private lending in Canada’s mortgage market, Morneau said there are no specific measures he’s looking at.
“We’re always looking at the entire mortgage space to make sure we have a system that is providing the adequate protections for Canadians. That means we need to think about obviously the space that we are directly regulating and what our regulations do in terms of impacts on other parts of the provision of that sort of credit,” he said. “But I don’t have anything specific in that regard right now.”
Reuters reported on Jan. 25 that Canada was considering subjecting private lenders to the same mortgage stress test rules faced by banks, to prevent housing market destabilization from lenders’ rapid growth. The report cited three unnamed people with direct knowledge of the matter.