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.
Nov 17, 2016
The Canadian Press
Vancouver has voted to implement a one-per-cent tax on empty homes in a bid to alleviate the city's crunched rental housing market.
The tax, which is the first of its kind in Canada, will apply to non-principal residences that are left empty for six months of the year or longer.
Home owners will be required to self-declare whether their property is vacant and could be subject to fines up to $10,000 for false reports.
Properties under renovation, owners who are in hospital and condos with strata rental restrictions will all be exempt from the tax.
Eight city councillors voted in favour of the tax Wednesday, while three opposed the levy.
Councillors also directed city staff to work with the Canada Mortgage and Housing Corporation and other organizations to collect data on possible impacts of the tax and report back next year.