Massachusetts Eyes Mansion Tax to Fund Affordable Housing
Massachusetts is jumping into the national debate on the affordable housing crisis with a proposal to tax high-value property sales.
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Massachusetts is jumping into the national debate on the affordable housing crisis with a proposal to tax high-value property sales.
More US banks reported stricter credit standards in the first quarter, according to the Federal Reserve.
Donald Trump used a personal bank account to repay most of the money he owed to a former lawyer who bought the silence of adult film star Stormy Daniels before the 2016 election, a former Trump Organization finance official told a New York court.
For homebuyers trying to crack into a tough US housing market, it would seem like relief is here: New listings are on the rise.
Steward Health Care System LLC filed for bankruptcy early Monday after a period of mounting financial challenges and government scrutiny over the impact of its hospital closures on patients.
Oct 18, 2019
Bloomberg News
,SoftBank Group Corp. is assembling a rescue financing plan for WeWork that may value the office-sharing company below US$8 billion, according to people familiar with the discussions.
The new figure is a fraction of the US$47 billion valuation the startup commanded as recently as January. The talks are fluid and the terms could change, said the people, who requested anonymity because the discussions are private.
WeWork, reeling since it scrapped its initial public offering, has been considering dueling plans from SoftBank and JPMorgan Chase & Co. to shore up its finances before it runs out of cash as early as next month. The company’s board could make a decision as soon as this weekend, according to some of the people familiar with the situation.
Representatives for WeWork and SoftBank declined to comment.
JPMorgan has been pitching investors on a US$5 billion junk-debt package for WeWork. The unsecured and secured notes portion of the bank’s plan are being offered on a “best-efforts” basis, according to people familiar with the matter, meaning banks haven’t committed to funding the deal irrespective of investor demand.
The bank has been sharing its proposal with about 100 investors as it tries to line up support for what would be one of the riskiest debt offerings in recent years, people with knowledge of the matter said earlier this week.