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 11, 2019
Bloomberg News
,(Bloomberg) -- Concerns about a potential no-deal Brexit are a boost for one corner of the sterling-bond market -- overseas sovereign agency sales.
The market has already seen 16 offers this year, totaling at least 7.65 billion pounds ($10 billion), trumping the 12 deals totaling about the same amount sold in the whole of January 2018, according to data compiled by Bloomberg. The tally of offers by non-U.K. government agencies or supranational bodies includes an Inter-American Development Bank note set to price on Friday.
The boom partly reflects investor demand for safe assets amid uncertainty about whether Prime Minister Theresa May can win parliamentary support for her European Union withdrawal agreement. Issuers are also rushing to lock in “attractive funding levels,” particularly swapped into dollars, before new volatility emerges, said Mark Byrne, director of syndicate at TD Securities Inc.
It’s a “perfect storm,” he said. There’s been “robust investor demand, particularly from bank treasury investors” and risks surrounding next week’s parliamentary Brexit vote is spurring issuers in action, he said.
To contact the reporter on this story: Emma Haslett in London at ehaslett@bloomberg.net
To contact the editors responsible for this story: Hannah Benjamin at hbenjamin1@bloomberg.net, Neil Denslow
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