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The bankruptcy court granted the owner of several well-known luxury resorts continued control over its case by giving the company until June 24 to exclusively file a plan of reorganization.
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The U.S. housing market showed additional signs of strengthening in April as sales of previously owned homes rebounded and median prices increased.
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A Federal Reserve policy maker on Tuesday refused to rule out further quantitative easing by the U.S. central bank, citing a sharp rise in jobless or a big shock in confidence as potential triggers.
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======================================================= Existing Home Sales Apr Mar ! Consensus: ! Total Sales: 4.62M 4.47Mr ! 4.60M ! % Change: +3.4% -2.8%r ! Actual: ! Months Supply: 6.6 6.2r ! 4.62M ! ======================================================= By Alan Zibel and Eric Morath WASHINGTON -(Dow Jones)- Sales of previously owned homes in the U.S. grew in April, adding to signs that the housing market is recovering gradually from a nearly six-year downturn.
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Existing home sales rose by a stronger-than-expected 3.4% in April to a 4.62 million unit annual rate, the highest since May 2010.
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Blackstone has agreed to buy the underperforming Motel 6 chain from Accor for $1.9 billion as the French hotel company continues to cut debt.
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India's Housing Development Finance Corp. (500010.BY) plans to raise at least INR2.5 billion by selling bonds, two people familiar with the matter said Tuesday.
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Ayala Land Inc. (ALI.PH), the Philippines' largest property developer by market capitalization, said Tuesday its board approved the issuance of voting preferred shares exclusively to holders of the company's common stock who are on record as of June 4.
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Abu Dhabi has selected banks including Goldman Sachs Group Inc. (GS), Morgan Stanley (MS) and Credit Suisse Group AG (CS) to advise on the state-backed merger of Aldar Properties Co. (ALDAR.AD) and Sorouh Real Estate (SOROUH.AD), Reuters news agency reported Monday on its website, citing four unnamed sources.
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Discover Financial Services (DFS) is interested in getting into the private-label credit-card business, Chief Financial Officer Mark Graf said, noting the lender "took a look" at HSBC Holdings PLC's (HBC) U.S. card business.
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Real estate fund CS EUROREAL will be liquidated over the next five years, the fund manager said Monday, after investors tried to withdraw more funds than was available.
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The chairman of Leighton Holdings Ltd. (LEI.AU) said the contractor's alliance with the Al Habtoor Group in the Middle East has become a long-term problem and that the company shouldn't have formed a joint venture with the group, the Australian Financial Review reported Monday.
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Wall Street dealers raised risk premiums on a pair of commercial mortgage-backed securities to the highest levels for new issues since December, as the market was swept into the European sovereign-debt storm, according to investors familiar with the offerings.
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With the Facebook initial public offering finally completed investors can get back to other matters such as housing data.
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New information hints that a growing number of Americans are getting back into the housing market, even though they went through a foreclosure, bankruptcy or short sale in recent years.
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China started building 2.28 million public housing units in the first four months this year, the Ministry of Housing and Urban-Rural Development said in a statement Friday.
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Average property prices in 70 Chinese cities covered in a government survey declined on a year-on-year basis in April for the second consecutive month, as developers continued to cut prices to boost flagging sales amid a two-year-old government campaign to cool the property sector.
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Malaysia's Starhill Real Estate Investment Trust (5109.KU) has entered exclusive talks to purchase three Marriott Hotels from Colonial First State's Commonwealth Property Hotel Fund, a person familiar with the matter told Deal Journal Australia.
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Average fixed mortgage rates hit record lows for the third straight week as ongoing concerns over the European sovereign debt crisis overshadowed improved economic readings in the U.S.
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Philippine conglomerate Alliance Global Group Inc. (AGI.PH) said Thursday its core net profit in the first quarter rose 34% to PHP2.96 billion, following higher contribution from its property development arm.
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A consortium led by CapitaLand Ltd. (C31.SG) that is developing a S$4.3 billion mixed-use property project in the Chinese megacity of Chongqing has received backing from local government leaders, and is making planned progress on the development, the Singapore-based developer said Thursday.
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The White House said Wednesday that President Barack Obama's first meeting in months with congressional leaders focused on the economy, with the president stressing he doesn't want another fight over the debt ceiling.
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U.S. home building grew in April, the latest sign that the recovery may be strengthening in the long-struggling market.
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========================================================== U.S. Housing Starts Apr Mar ! Consensus: ! Total Starts: +2.6% -2.6%r ! +4.7% ! Single-Family: +2.3% +2.3%r ! Actual: ! ! +2.6% ! ========================================================== By Eric Morath and Alan Zibel WASHINGTON -(Dow Jones)- U.S. home building grew in April, the latest sign that the recovery may be strengthening in the long-struggling market.
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Housing starts rose to a 717,000-unit rate in April, coming in higher than economists had expected, while permits to build new homes took a steeper-than-expected drop to a 715,000-unit rate.
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Unitech Ltd. (507878.BY), one of India's top realty companies by sales, Wednesday posted a 98% drop in consolidated net profit for the January-March quarter as expensive loans and property prices crimped demand for apartments and shopping malls.
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UBS AG (UBS) will go to trial in the fall of 2013 with the regulator for Fannie Mae (FNMA) and Freddie Mac (FMCC), the first of more than a dozen lawsuits the agency filed against big banks last year to be heard in federal court.
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An industry group said Tuesday Residential Capital LLC's decision to seek bankruptcy-court protection was a "credit event" that triggers about $858 million in payouts on credit-default swaps tied to the mortgage lender.
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French construction-to-telecom conglomerate Bouygues SA (EN.FR) Tuesday raised its sales target for 2012 after reporting higher-than-expected sales and net profit in the first quarter.
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Boston Properties Inc. (BXP) isn't taking London's call.
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The bankruptcy of Ally Financial Inc.'s troubled mortgage business and potential sales of its international units will put the auto lender on stronger footing, Ally executives said Tuesday, despite questions about the ultimate fate of Ally's domestic operations.
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U.S. home builders' sentiment rose in May to the highest level in five years as more potential buyers appeared confident that the housing market has hit bottom.
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Federal Reserve Gov. Elizabeth Duke on Tuesday urged policymakers to finalize regulations and rules to provide more certainty for the housing market.
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Prices on the Swedish housing market remain elevated, but are not a significant risk to the country's financial stability, the International Monetary Fund said Tuesday, as it urged the Riksbank to agree on how the central bank should act with regards to asset prices and financial stability.
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Agricultural Bank of China Ltd. (1288.HK) bought an office building in Hong Kong for HK$4.88 billion (US$629 million) to serve as its regional headquarters, Colliers International, which advised on the purchase, said Tuesday.
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Central Pattana PCL (CPN.TH) - Bangkok Figures in baht First Quarter to March 31: 2012 2011 Net Profit THB1,064,513,000 THB612,402,000 Earnings per share 0.49 0.28 All figures are unaudited and based on domestic accounting standards.
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Polish insurer PZU SA (PZU.WA) plans to limit its exposure to Polish stocks and government bonds, and gradually move toward investing more in corporate bonds and real estate, Chief Executive Andrzej Klesyk told a press conference Tuesday.
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The prices of houses and tenant-owned apartments in Sweden rose slightly in April, data showed Tuesday.
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Sales of new private homes in Singapore rose in April to a near three-year high, government data showed Tuesday, as transactions exceeded 2,300 units for an unprecedented third straight month amid resilient demand in the city-state's property market.
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Real-estate fund manager ARA Asset Management Ltd. (D1R.SG), an affiliate of Hong Kong tycoon Li Ka-shing's Cheung Kong (Holdings) Ltd. (0001.HK), is planning to raise between S$700 million and S$800 million (US$557 million and US$636 million) by listing some of its Asian assets in yuan-denominated initial public offering in Singapore, people familiar with the situation said Tuesday, the first outside Hong Kong or China.
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Chile's largest shopping mall owner, Parque Arauco SA (PARAUCO.SN), is focusing its growth strategy on Colombia, where the company plans to invest up to $1 billion over the next five years.
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Property investment company Hysan Development Co. (0014.HK) said Monday it appointed its non-executive Deputy Chairman Siu Chuen Lau as chief executive.
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A U.S. banking regulator on Friday halted the work of a consulting firm hired to review foreclosure documents as part of a comprehensive review of banks' foreclosure practices.
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Investment in property development in China slowed in April, as housing sales continued to be weak despite government campaigns to bring down prices and support first-home buyers, deterring would-be developers from purchasing land.
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China's industrial output growth slowed significantly in April to the lowest level since May 2009, adding to worries over a slowdown in the world's second-largest economy.
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Property development investment in China increased 18.7% on year to CNY1.58 trillion in the January to April period, data released Friday by the National Bureau of Statistics showed.
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Assured Guaranty Ltd. (AGO) swung to a first-quarter loss as derivatives losses widened and income from premiums slid, though the insurer's operating earnings still topped expectations.
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Germany's GSW and its former owner, Whitehall Funds, are bidding more than EUR1 billion for a German real estate portfolio owned by Barclays PLC (BCS), Reuters reported Thursday, citing two people with knowledge of the matter.
