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.
Jun 12, 2017
The Canadian Press
Toronto's mayor says proposed new rules for the city's short-term rental market, including properties listed on Airbnb, would help strike a balance between the need for such accommodations and the disruptions they can cause to local neighbourhoods.
John Tory is defending a report released by the city's Municipal Licensing and Standards department which lays out a number of proposals for individuals and companies who offer short-term rentals.
One proposed change would ban people from renting out homes that are not their primary residences.
Tory says such a move would help stabilize neighbourhoods by limiting the number of people staying there temporarily, while also potentially putting housing units back on the market for longer-term tenants.
Other recommendations include licensing short-term rental companies such as Airbnb, creating a registry for people who operate short-term rentals, and changing zoning bylaws to create a new land use classification for short-term rentals.
City council must vote on the recommendations, and Tory says the proposed rules are still open to public consultation and feedback.