New US Home Sales Jump to Highest Level Since September
Sales of new homes in the US bounced back broadly in March as an abundance of inventory helped drive prices lower.
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Sales of new homes in the US bounced back broadly in March as an abundance of inventory helped drive prices lower.
Hong Kong developer Lai Sun Development Co. is considering options for a planned office tower in the City of London, including a potential sale of a stake in the project.
Germany’s financial regulator BaFin is taking a closer look at the real estate used by lenders to secure covered bonds known as Pfandbriefe, a €400 billion market traditionally considered among the safest in credit.
Taylor Wimpey Plc is failing to see lower mortgage rates translate into higher levels of home sales and is maintaining its forecast for fewer deals in 2024.
Chinese mainland investors increased their portion of total turnover of Hong Kong stocks to a record daily average in April, with the latest measures to bolster the city’s position potentially boosting their purchases.
May 24, 2020
Bloomberg News
,(Bloomberg) -- Switzerland is assisting the Vatican with an investigation into the purchase of luxury property in London, according to NZZ am Sonntag.
A first batch of documents has been sent to the Vatican by the alpine nation after a request for legal assistance, the newspaper reported, citing a Swiss justice ministry spokesman. A double-digit million sum in Swiss francs has been frozen at Swiss banks relating to the request, the newspaper said, citing a well-informed source.
The Holy See is probing the purchase of luxury real estate in London’s exclusive Chelsea district eight years ago, the newspaper reported. It became known last year that part of the invested money came from donations from Catholic worshipers, and there were suspicions that money had been siphoned off during the purchase, NZZ am Sonntag said. The Vatican’s attorney general has been probing the case since October, and last November Pope Francis labeled it publicly as a scandal, according to the newspaper.
The more than 300 million Swiss franc ($309 million) investment took place through a complicated structure, in which Swiss banks including Credit Suisse Group AG were involved, the report said. A spokeswoman for Credit Suisse told NZZ am Sonntag that the bank is not the target of the Vatican’s investigation.
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