LONDON (Reuters) – Global commercial insurance rates rose 19% in the second quarter, driven higher by claims related to COVID-19 and other large losses, insurance broker Marsh said on Monday. The rate rise was the highest since Marsh began its commercial insur... More »
LONDON (Reuters) – Investors in property funds should wait up to 180 days before they can get their money back to avoid widespread suspensions in rocky markets, Britain’s Financial Conduct Authority proposed on Monday. UK-regulated open-ended property funds of... More »
BOSTON(Reuters) – Billionaire investor Steven A. Cohen’s Point72 Asset Management is opening the $16.2 billion firm’s latest satellite location in Warsaw and moving some back office operations to lower-cost Poland. Point72, based in Stamford, Connecticut with ... More »
WASHINGTON (Reuters) – New York City prosecutors are very likely to obtain President Donald Trump’s tax returns after a major U.S. Supreme Court ruling, but it may not happen before the Nov. 3 election if he argues in lower courts as expected that their reques... More »
(Reuters) – Hyatt Hotels Corp (H.N) said late Monday it would lay off 1,300 people globally as it tries to cope with the coronavirus crisis, which has virtually halted global travel by keeping people indoors. Hyatt said it had also cut pay for senior managemen... More »
(Reuters) – A special committee of WeWork board members filed a motion in Delaware on Monday to prevent it from being disbanded, as it pursues legal action against majority owner SoftBank Group Corp (9984.T) over an abandoned $3 billion tender offer for the of... More »
NEW YORK (Reuters) – Some top-performing U.S. fund managers see opportunities in one of the sectors hardest hit by the coronavirus pandemic, cautiously increasing stakes in niches of the real estate market like cell phone towers and warehouses, which they see ... More »
RIYADH (Reuters) – Saudi Arabia’s King Salman has ordered up to 9 billion riyals ($2.4 billion) to be disbursed to pay part of the wages of private-sector workers to deter companies from laying off staff, the state-run Saudi Press Agency reported on Friday. Th... More »
NEW YORK (Reuters) – In scary times like these, it is comforting to talk to someone who has seen and studied a lot of things – booms, busts, and everything in between. Enter Robert Shiller. The Yale University economics professor and Nobel Prize winner recentl... More »
HONG KONG (Reuters) – The Li Ka-Shing Foundation, a charitable organization founded by the Hong Kong billionaire, has donated HK$100 million ($12.9 million) to the Chinese city of Wuhan, the epicenter of the new coronavirus that has killed more than 900 people... More »
(Reuters) – Softbank (9984.T)-backed office sharing firm WeWork named real estate industry veteran Sandeep Mathrani as its new chief executive on Saturday. Mathrani will join the company as the CEO from Feb. 18, 2020 and will report to Marcelo Claure, who will... More »
LONDON (Reuters) – Sovereign wealth funds’ investment moves are becoming more closely aligned with the global asset management industry as they mature, and their growing size makes it harder for them to make contrarian bets, a report showed. But the move to mo... More »
NEW YORK (Reuters) – A climate research organization will offer access to a risk model that predicts the probability of flooding for homes across the United States, giving the public a look at the data institutional investors use to gauge risk. First Street Fo... More »
HEGANG, China (Reuters) – Li Hai is a nobody in China. But the 32-year-old ship mechanic became a minor internet sensation last month after posting a video of his everyday life in a largely forgotten coal city in the country’s far north. Resource-rich cities l... More »
NEW YORK/BANGALORE (Reuters) – SoftBank Group Corp (9984.T) will this week launch a previously agreed tender offer for as much as $3 billion of WeWork shares, including up to $970 million owned by the office sharing company’s cofounder Adam Neumann, two people... More »
HONG KONG (Reuters) – Hong Kong police fired tear gas and rubber bullets on Monday to force back anti-government protesters trying to escape a university where hundreds are holed up with petrol bombs and other homemade weapons amid fears of a bloody crackdown.... More »
SEATTLE (Reuters) – Seattle voters, in a rebuke to heavy corporate campaign spending by Amazon.com, have kept progressives firmly in control of their city council, reviving chances for a tax on big businesses that the tech giant helped fend off last year. Amaz... More »
(Reuters) – Warehouse giant Prologis Inc (PLD.N) said on Sunday it had agreed to acquire rival industrial real-estate business Liberty Property Trust (LPT.N) in a $12.6 billion deal to improve its U.S. presence amid the ecommerce boom. If approved, Prologis sa... More »
BEIJING (Reuters) – New home prices in China grew at a steady pace in September, with fewer cities reporting price gains, a relief for policymakers who remain wary of high debt and bubble risk and are refraining from stimulating the sector as the economy cools... More »
WARSAW (Reuters) – Polish banks will face costs of 20 billion to 30 billion zlotys ($5.1-$7.6 billion) due to the European Court of Justice’s (ECJ) ruling on Swiss-franc mortgages, Polish rate-setter Eugeniusz Gatnar told news agency PAP in comments published ... More »
HONG KONG (Reuters) – Just before midnight in Hong Kong’s Mong Kok district, a slight man in his seventies peels away from a crowd of protesters jeering at police. Behind him, a young woman calls out, “Be safe!” They make an improbable pair: she a smartly dres... More »
BEIJING (Reuters) – Chinese state media said on Sunday the United States has shipped several million tonnes of soybeans to China since the two countries’ leaders met in June, although U.S. government data shows that the volume was much less. The U.S.-China tra... More »
(Reuters) – Shared office space manager WeWork Cos is looking to raise $3 billion to $4 billion in debt before it goes public, a person familiar with the matter said on Sunday, a move aimed to fuel investor confidence in the company. The potential debt offerin... More »
BEIJING (Reuters) – New home prices in China rose at their fastest pace in five months in May, complicating government efforts to keep frothy housing markets under control as it rolls out more stimulus for the slowing economy. Average new home prices in China’... More »
(Reuters) – Purplebricks Group Plc named Phil Felice as the interim boss of its U.S. operations on Monday to oversee the online estate agent’s review of the business and said it was optimistic about the future of the business. Purplebricks had said earlier thi... More »
OSLO (Reuters) – Norway’s sovereign wealth fund will pay about $98 million dollars to extend the term of its ownership in a portfolio of New York properties and to acquire a few new, the fund said on Wednesday. “The partnership between Norges Bank Investment M... More »
HONG KONG/SHANGHAI (Reuters) – Co-working space operators in China are shifting their focus from ambitious expansion plans to services such as customizing offices for clients, as rising vacancy rates and tighter financing slow their exponential growth of the p... More »
WASHINGTON (Reuters) – Amazon.com Inc’s planned second headquarters in northern Virginia cleared a key test on Saturday when local officials approved a proposed financial package worth an estimated $51 million amid a small but vocal opposition. Amazon in Novem... More »
WASHINGTON (Reuters) – Amazon.com Inc’s plan to set up a second headquarters in northern Virginia, after being rebuffed in New York, will face its first test when local officials vote on Saturday on a proposed financial package worth an estimated $51 million. ... More »
WASHINGTON (Reuters) – Question: What do you get when you combine Russian agents, a therapy dog and a $15,000 ostrich-skin jacket? Answer: A criminal investigation that could decide the fate of a U.S. president. Donald Trump’s presidency has produced no shorta... More »
LONDON (Reuters) – European stocks slipped again on Friday, following their weakest day in six weeks, as downgrades to growth forecasts weighed and bleak numbers from Umicore, Skanska, and Rockwool outweighed a sales beat at L’Oreal. The pan-European STOXX 600... More »
WASHINGTON (Reuters) – The Trump administration has decided it cannot authorize new flood insurance policies, citing the partial shutdown of the federal government due to a budget impasse in Congress and potentially putting thousands of home sales in limbo. Th... More »
CHICAGO (Reuters) – American homes are showing their age – not the houses, but the people living in them. In 2016, about 55 percent of U.S. households (or about 65 million households) were headed by someone aged 50 or older, according to the Joint Center for H... More »
LONDON (Reuters) – Over a third of sovereign investors plan to cut their equity exposure over the next three years after a strong run in 2017, citing trade wars, geopolitics and high valuations as headwinds to performance, a study by asset manager Invesco show... More »
BOSTON (Reuters) – Billionaire investor John Paulson’s top real estate executives are launching their own investment firm with $1 billion and the hedge fund manager’s blessing, sources familiar with the matter said. Michael Barr, a portfolio manager who headed... More »
BEIJING (Reuters) – China’s property investment growth slowed in April while sales marked their biggest fall in six months as higher borrowing costs and increased curbs on buyers weighed on demand, backing views that a key driver of the economy is losing some ... More »
(Reuters) – Deutsche Bank AG will shift its New York headquarters from Wall Street to a location midtown, at a time when Germany’s largest bank is scaling back its U.S. operations. The bank will relocate to One Columbus Circle from 60 Wall Street, according to... More »
NEW YORK (Reuters) – Investors stormed back into the market for the riskiest corporate debt during the latest week, Lipper data showed on Thursday, pumping the most cash into U.S.-based, high-yield bond funds in over 16 months. The resurgence in demand for hig... More »
SINGAPORE (Reuters) – Singapore proposed on Monday allowing private home owners to let out their property for short-term rentals but with an annual cap of 90 days a year – part of a consultation process welcomed by rental service Airbnb. Private homes in Singa... More »
(Reuters) – For Todd Brassner, an art dealer who died in a fire that ripped through his Trump Tower apartment last weekend, the New York high-rise he lived in for two decades became unbearable after Donald Trump announced he was running for president. Brassner... More »
TORONTO (Reuters) – Alphabet Inc’s urban innovation company Sidewalk Labs hopes to break ground on its first ever smart-city project in Toronto in 2020, and begin testing some of the proposed technologies this summer, its chief executive told Reuters. This is ... More »
NEW YORK (Reuters) – U.S. fund investors pulled back from the stock market for a third straight week, withdrawing $11.6 billion in cash in the week ended Wednesday, in the face of a potential full-blown trade war between the United States and China, Lipper dat... More »
LONDON (Reuters) – Spooked by brewing trade tensions and a broad reversal in technology shares, global investors have cut their equity exposure to a four-month low this month while reducing their holdings of U.S. stocks to the lowest in nearly two years. Reute... More »
LONDON (Reuters) – British investors rattled by global trade tensions are holding equity exposure near four-month lows, a Reuters poll showed on Thursday, though they see emerging market assets as benefiting from dollar weakness. Reuters’ latest monthly asset ... More »
LONDON (Reuters) – European investors have raised their bond allocations in March while keeping their equity exposure at six-month lows, in a month marked by a sharp tech sector selloff and brewing trade tensions that threatened to dent world economic growth. ... More »
FILE PHOTO: 2017 MTV Video Music Awards – Arrivals – Inglewood, California, U.S., 27/08/2017 – Katy Perry. REUTERS/Danny Moloshok/File Photo (Reuters) – An 89-year-old Roman Catholic nun who has battled pop star Katy Perry for years over the sale of a Los Ange... More »
NEW YORK (Reuters) – U.S. fund investors pulled $9.8 billion from stocks during the latest week, Lipper data showed on Thursday, halting the investments’ budding momentum after February’s selloff. The withdrawals, recorded during the seven days through March 7... More »
FILE PHOTO: U.S. President Donald Trump announces that the United States will impose tariffs of 25 percent on steel imports and 10 percent on imported aluminum during a meeting at the White House in Washington, U.S., March 1, 2018. REUTERS/Kevin Lamarque/File ... More »
China aims to pursue "stable and healthy development" of the property market in 2018 with an increased focus on providing affordable housing and developing the rental market, Premier Li Keqiang said in a government work report released on Monday. More »
((This Feb. 22 story corrects paragraph 4 to clarify NBIM’s partnership with Crown Estate)) By Noor Zainab Hussain and Esha Vaish (Reuters) – The sovereign wealth fund of Norway bought a 245 million pounds ($342 million) stake in British property group Shaftes... More »
NEW YORK (Reuters) – U.S. fund investors pulled $3.1 billion from high-yield “junk” bonds during the latest week, Lipper data showed on Thursday, offering new warning signs about risk appetite despite global markets’ continuing triumph. The junk bond withdrawa... More »
FRANKFURT (Reuters) – German residential property developer Instone Real Estate is targeting a flotation on the Frankfurt stock exchange in March, adding to a growing pipeline of spring listings in Germany, people close to the matter said. The company is worki... More »
FILE PHOTO: A woman passes a private condominium estate in Singapore February 13, 2017. REUTERS/Edgar Su/File Photo SINGAPORE (Reuters) – Singapore’s housing market is expected to build on its recovery over 2018, analysts say, as private home prices marked the... More »
U.S. President Donald Trump celebrates with Congressional Republicans after the U.S. Congress passed sweeping tax overhaul legislation on the South Lawn of the White House in Washington, U.S., December 20, 2017. REUTERS/Carlos Barria The following statements w... More »
China's October property sales and new construction starts fell in October as the property market cooled from a two-year boom in the face of a tighter liquidity environment and a crackdown on riskier lending. More »
China's economy cooled further last month, with industrial output, fixed asset investment and retail sales missing expectations as the government extended a crackdown on debt risks and factory pollution. More »
HomeRenter, a new British online property lettings website backed by newspaper publisher Trinity Mirror is to be launched on Monday, offering to cut out the role of traditional letting agents and the hefty fees which they levy on tenants. More »
Shares of Switch Inc, which provides data center services to Amazon, eBay and JP Morgan among others, rose as much as 45 percent in their market debut on Friday, giving the company a market capitalization of more than $5.6 billion. More »
China has launched probes into consumer loans that are being misused for home purchases, warning they cannot be used to "fuel property bubbles", a senior banking official said on Friday. More »
U.S.-based taxable-bond funds took in $7 billion during the latest week, the largest weekly intake since July, adding to an already strong year for debt against the backdrop of a rate-hiking cycle, Lipper data showed on Thursday. More »
New Lisbon resident Madonna has been extolling the delights of living in the Portuguese capital Lisbon, the most illustrious of a growing number of foreigners in the newly-fashionable city. More »
Private equity giant Blackstone Group has called off the sale of its A$3.5 billion ($2.8 billion) Australian shopping mall portfolio, a source said, as the looming arrival of Amazon.com spooks buyers of bricks-and-mortar stores. More »
Chinese conglomerate Dalian Wanda Group said on Monday a report claiming its billionaire chairman, Wang Jianlin, was prevented from leaving the country was "groundless" and that it planned to take legal action. More »
Donald Trump's company was pursuing a Moscow real estate deal while he was running for U.S. president in late 2015 and early 2016, the Washington Post reported on Sunday. More »
China's real estate investment growth slowed in July, as official curbs continued to cool an overheated property market, reinforcing expectations of further slowing in second-half 2017. More »
Investors poured $1.8 billion into U.S.-based taxable bond funds during the latest , marking the fourth straight week of inflows into the funds, Lipper data showed on Thursday. More »
FILE PHOTO: The headquarters of Germany’s Deutsche Bank is seen early evening in Frankfurt, Germany, January 26, 2016. Deutsche Bank has exchanged a pre-let agreement for its new City of London headquarters, the building’s developer Land Securities said on Tue... More »
Houses under construction are seen at a subdivision near the town of Kleinburg, Ontario, Canada May 13, 2017. Canada’s long housing boom has drawn thousands into the sector, from realtors and home stagers to construction workers, and a looming slowdown threate... More »
The headquarters building of Anbang Insurance Group are pictured in Beijing, China, August 25, 2016. Anbang Insurance Group, whose chairman was detained in June, on Tuesday denied a report that it had been told by regulators in China to sell its overseas asset... More »
FILE PHOTO: The logo of Qatar Petroleum is seen at its headquartes in Doha, Qatar, July 8, 2017. Picture taken July 8, 2017. Qatar’s tensions with its neighbors are making world markets edgy about any hint of financial instability among the Gulf economies, who... More »
Shares of Wanda Hotel Development Co Ltd jumped more than 150 percent on Monday after Dalian Wanda Group said it will sell 91 percent of 13 tourism projects, as well as 76 hotels in China to Sunac China for $9.3 billion. More »
China Investment Corp’s (CIC) $13.7 billion acquisition of warehouse firm Logicor tripled the total value of sovereign wealth funds’ (SWFs) M&A deals in the second quarter to $31.7 billion, just shy of a record set in the third quarter of 2016. More »
Independent investment management firm HQ Capital named Jeremy Katz as a co-head of its real estate group. More »
FILE PHOTO: New home construction is seen in San Diego, California, U.S. on August 21, 2015. REUTERS/Mike Blake/File Photo U.S. mortgage lenders are bracing for rockier times as consumers demand for home loans slows and competition in the mortgage industry int... More »
FILE PHOTO: The One World Trade Center tower is seen in New York, U.S. on November 8, 2013. REUTERS/Mike Segar/File Photo A Korean-born architect on Wednesday sued a major architecture firm over the design of Manhattan’s One World Trade Center, claiming that t... More »
The Morgan Stanley logo is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) in New York, U.S., April 19, 2017. REUTERS/Brendan McDermid Morgan Stanley is developing a new digital mortgage application tool in a bid to ... More »
Real estate investment manager LaSalle Investment Management appointed Brad Gries as head of U.S. acquisitions, effective Aug. 18. More »
President Donald Trump plans to nominate Brian Brooks, general counsel for Fannie Mae, as deputy secretary of the U.S. Treasury, Axios reported on Saturday, citing three sources it said had knowledge of the pick. More »
Digital Realty Trust Inc (DLR.N) said it would buy fellow data center operator DuPont Fabros Technology Inc (DFT.N) for an enterprise value of about $7.6 billion, its biggest-ever deal, to help expand in high-demand markets in the United States amid a rapid sh... More »
High rise private residential buildings are seen in Hong Kong, China May 21, 2017. Picture taken May 21, 2017. REUTERS/Bobby Yip Hong Kong’s latest attempt at cooling home prices in one of the world’s most expensive property markets is expected to send buyers ... More »
Federal Housing Finance Agency Director Mel Watt testifies before a Senate Banking Committee hearing on ‘The Status of the Housing Finance System After Nine Years of Conservatorship’ on Capitol Hill in Washington, U.S., May 11, 2017. REUTERS/Yuri Gripas The U.... More »
Mastheads of The Age, The Sydney Morning Herald and the Australian Financial Review, all Fairfax Media publications, are pictured in this photo-illustration in Sydney June 18, 2012. REUTERS/Daniel Munoz U.S. buyout firm TPG Capital Management on Monday raised ... More »
FILE PHOTO: U.S. dollar notes are seen in this November 7, 2016 picture illustration. REUTERS/Dado Ruvic/Illustration/File Photo Investors stampeded into U.S.-based stock funds that invest in Europe, plowing the second-largest amount on record into those produ... More »
FILE PHOTO: Logos of Tencent are displayed at a news conference in Hong Kong, China March 22, 2017. REUTERS/Tyrone Siu/File Photo Struggling to seal deals in the United States as regulatory scrutiny tightens, Chinese companies looking to invest in promising te... More »
FILE PHOTO: Tourists enjoy a boat trip on the Seine river past the Eiffel Tower on a sunny spring day in Paris, France, May 8, 2016. REUTERS/Jacky Naegelen Spending half the year in the French countryside seems like a luxurious goal, but Deborah Jacobs, author... More »
Dynasty Financial Partners LLC, which provides back-end support services to independent wealth management firms, said it had added Next Capital Management to its network of investment advisors. More »
File photo: A stands outside Fannie Mae headquarters in Washington February 21, 2014. REUTERS/Kevin Lamarque U.S. mortgage finance giants Fannie Mae (FNMA.PK) and Freddie Mac (FMCC.PK) may write down $21 billion of tax-related assets if there is a deep cut in ... More »
David Stawovy, owner and manager of the town, walks down a street in Reduction, Pennsylvania, March 23, 2017. Photo courtesy of Patricia Stawovy/Handout via REUTERS Got $1.5 million to spare? If so, tiny Reduction, a one-time company town built to house worker... More »
FILE PHOTO: Construction is seen in the Hudson Yards area of the West Side of Manhattan in New York U.S., November 21, 2016. REUTERS/Shannon Stapleton The run-up in U.S. real estate prices could potentially amplify any future economic downturn, a Federal Reser... More »
U.S. President Donald Trump departs West Palm Beach, Florida, U.S., to return to Washington March 19, 2017. REUTERS/Kevin Lamarque Highlights of the day for U.S. President Donald Trump’s administration on Sunday: More »
Zander Dejah, 25, a Virtual Reality engineer and Isha Padhye, 23, a UI designer toast as they socialise at a bar in San Francisco, California, U.S. February 12, 2017. REUTERS/Gabrielle Lurie Zander Dejah, 25, pays $1,900 a month rent to live in a downtown San ... More »
FILE PHOTO: Then Republican presidential nominee Donald Trump speaks at a campaign event in Winston-Salem, North Carolina, U.S., July 25, 2016. REUTERS/Carlo Allegri/File Photo The Trump National Golf Club in Westchester County, New York, has a magnificent cou... More »
The headquarters of the China Trademark Office is seen in Beijing, China, March 9, 2017. REUTERS/Jason Lee China has granted preliminary approval for 38 trademarks linked to Donald Trump, documents on China’s state trademark office show, giving the U.S. Presid... More »
A woman protests outside a Snap Inc. office in Venice Beach as locals demonstrate on the street over the company moving into the beach community in Los Angeles, California, U.S. March 2, 2017 . REUTERS/ Lucy Nicholson As shares of California-based Snap Inc (SN... More »
Dr. Ben Carson is sworn in to testify before a Senate Banking, Housing and Urban Affairs Committee confirmation hearing on his nomination to be Secretary of the U.S. Department of Housing and Urban Development on Capitol Hill in Washington, U.S. January 12, 20... More »
Magician David Copperfield arrives at the Vanity Fair Oscar Party in Beverly Hills, California February 28, 2016. REUTERS/Danny Moloshok If you had to name just one person on Earth who is living his or her best life, David Copperfield would have to be among th... More »
Investors are showing increasing comfort wading into the markets, lavishing cash on U.S.-based stock and corporate bond funds in the latest week, Lipper data showed on Thursday. More »
Residential buildings are seen in Beijing, China, January 10, 2017. Picture taken on January 10, 2017. REUTERS/Jason Lee China’s property prices will remain stable in the first quarter, housing minister Chen Zhenggao said on Thursday, adding the government has... More »
FILE PHOTO – Containers are seen at Container Terminal 9 during sunset at Hong Kong’s Kwai Chung district September 7, 2012. REUTERS/Bobby Yip/File Photo Hong Kong handed out billions of dollars in tax cuts and poverty relief on Wednesday to reflate its econom... More »
U.S. President-elect Donald Trump is broadcast on a screen on the floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S. December 27, 2016. REUTERS/Andrew Kelly Investors boosted their bets on U.S.-based equity funds in the latest week a... More »
