UAE’s $35 Billion Egypt Deal Marks Gulf Powers’ Buying Spree
Crown jewels including resorts and a gas station chain are up for grabs. Saudi Arabia mulls purchases.
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Crown jewels including resorts and a gas station chain are up for grabs. Saudi Arabia mulls purchases.
(Bloomberg) -- China’s industrial companies’ profits fell in March as exports flagged and deflationary pressures persisted, suggesting the economy’s stronger-than-expected growth early this year might be tough to maintain.
New York Community Bancorp Inc. has had one of the most tumultuous quarters in recent banking history. Its first-quarter earnings will probably reveal more about impacts from the drama — and management’s plan to move forward.
Donald Trump’s longtime personal assistant, who worked for his real estate empire for decades, told a jury that she has a “vague recollection” of seeing Stormy Daniels at Trump Tower sometime before 2015.
The delinquency rate for US small businesses climbed to a three-year high this month, reflecting the impact of rent spikes and declining revenue, according to a monthly survey.
Feb 5, 2019
Bloomberg News
,Canada’s banking regulator defended tougher mortgage underwriting rules blamed recently for a slump in the nation’s housing market, but left open the possibility that regulations could ease if conditions change.
Carolyn Rogers, the No. 2 at the Office of the Superintendent of Financial Institutions, said the tougher mortgage lending rules remain a prudent way to guard against risks in the the marketplace. Still, the regulator is continually assessing conditions.
“OSFI monitors the environment on a continual basis and when we determine that adjustments to our standards and guidelines are warranted, we make them,” Rogers said in a speech Tuesday in Toronto.
The country’s banking regulator has been facing pressure in particular to ease up on stress tests that require home buyers to prove they can handle payments at 200 basis points above the contracted rate. The rule came into effect in January 2018, triggering a sales slow down in the country’s two priciest markets — Toronto and Vancouver.
Rogers said that while interest rates have increased since the measure was introduced, borrowing costs still remain historically low and personal debts remain high. There could also be changes to income or other home owning expenses that make it difficult to pay off mortgages.
“It’s prudent to have a buffer for these changes as well,” she said.
At the same time, the introduction of the stress tests themselves were an adjustment to a “shift in risks” in the financial system and things could change.
“Should that margin of safety be monitored, and should changes be considered if conditions in the environment change? Of course they should,” she said.