Blackstone’s Credit and Retail Lines Drive Narrow Profit Beat
Blackstone Inc. collected more fees from big retail funds and credit strategies during the first quarter, compensating for the slower pace of deal exits.
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Blackstone Inc. collected more fees from big retail funds and credit strategies during the first quarter, compensating for the slower pace of deal exits.
Stocks advanced with Treasuries as global markets steadied after turbulence driven by misfiring bets over the scale and timing of interest rate cuts by the Federal Reserve.
Ken Griffin’s Citadel and Citadel Securities will move their London base to a new office tower on the edge of the City of London, a major expansion of their space in the latest sign of the firm’s growing heft.
Solving a longstanding construction worker shortage will be key to boosting housing supply, experts say, as Canada's national housing agency continues to forecast housing start levels that fall short of growing demand.
London estate agent Foxtons Group Plc’s sales under-offer pipeline swelled to the highest level since 2016 at the start of the second quarter, adding to signs lower borrowing costs and strong wage growth are bringing previously hesitant buyers back to the UK property market.
Sep 26, 2019
Bloomberg News
,(Bloomberg) -- Donald Trump’s real estate company won approval from a municipality in northeast Scotland to develop a site next to an existing golf resort the U.S. president owns.
Aberdeenshire Council voted 34 to 28 to approve the project, citing the economic benefits, a spokesperson confirmed. The Trump Organization submitted plans last year to spend 150 million pounds ($185 million) on the development, which includes 500 homes and 50 vacation cottages.
While there were almost 3,000 objections from the public and campaign groups, properties were already attracting interest from buyers before construction was green-lighted. A number were reserved and there were more expressions of interest, according to a filing on behalf of Trump International Golf Links Scotland in September last year.
When Trump’s real estate company submitted the proposal, it said the project would add to the 100 million-pound investment in the golf course and hotel at the site on the North Sea coast. The expansion, like the existing investment, would be paid for by the company, it said separately.
Trump’s investment in northeast Scotland has been fraught with controversy over the years. He clashed with environmentalists, local residents and the Scottish government while struggling to make any money from them.
Earlier this week, planners backed Trump’s proposal for a second golf course at the estate, the BBC reported.
To contact the reporter on this story: Rodney Jefferson in Edinburgh at r.jefferson@bloomberg.net
To contact the editor responsible for this story: Alastair Reed at areed12@bloomberg.net
©2019 Bloomberg L.P.