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ECB’s foray into junk-rated bonds seen as ‘too little, too late’

  Bloomberg Mario Draghi’s foray into corporate bonds with junk ratings was an “aggressive” effort in monetary stimulus, but it still may not be enough to jump-start the region’s economy, according to Putri Pascualy at Pacific Alternative Asset Management Co. “It was a very aggressive move,” Pascualy, managing director and credit strategist for Paamco, said of the European Central Bank ...

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Bank of Canada chief warns over Toronto,Vancouver housing risks

  Bloomberg Bank of Canada Governor Stephen Poloz gave one of his bluntest warnings to date about the country’s housing boom, saying Vancouver and Toronto buyers should realize strong price gains probably can’t be sustained by economic fundamentals. “This suggests that prospective homebuyers and their lenders should not extrapolate recent real estate performance into the future when contemplating a transaction,” ...

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Kenyan realtor seeks funds post 95% stock slump

  Bloomberg Home Afrika Ltd., a Kenyan real estate developer whose stock has dropped 95 percent since 2013, plans to raise 5.5 billion shillings ($54 million) from investors to enable it to complete stalled projects. The only publicly traded property developer in East Africa’s largest economy will ask shareholders at its June 30 annual meeting to approve the sale of ...

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US, Chinese investors buy 80 percent of French team Nice

  AP A group of Chinese and American investors, who specialize in real estate, hotel and tourism, have bought 80 percent of French soccer club Nice for an undisclosed fee. Club president and former majority owner Jean-Pierre Rivere will retain a 20 percent stake. Rivere said on Friday that the deal will help “secure the future of the club.” Nice ...

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Average USA 30-yr mortgage rate slips

  AP Long-term U.S. mortgage rates fell this week after three straight weeks of increases. The drop followed a surprisingly weak employment report that deepened doubts about the economy. Mortgage buyer Freddie Mac said the average 30-year fixed-rate mortgage slipped to 3.60 percent from 3.66 percent last week. That is well below its level a year ago of 4.04 percent. ...

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Get real: Billions of dollars set to pour into real-estate investments

  AP Mutual funds are about to get much more real. A big change is coming in how stock indexes measure the market, one that’s likely to push tens of billions of dollars into real-estate investments, according to estimates. All that cash could drive further gains for a group of stocks that’s already done quite well since the financial crisis. ...

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27 killed as suicide bombers hit Baghdad commercial area

  BAGHDAD / AP Two suicide attacks in and outside the Iraqi capital killed at least 27 people and wounded dozens on Thursday, officials said. The deadliest attack took place in a commercial area of a majority Shiite neighborhood in Baghdad. At least 15 civilians were killed and 35 wounded, police said. Another suicide bomber rammed his explosives-laden car into an ...

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‘Nothing to discuss with PKK after attacks’

  Ankara / AFP Turkey’s prime minister ruled out talks with the banned Kurdistan Workers’ Party (PKK) after a spate of attacks blamed on the militants killed at least 17 people this week. Prime Minister Binali Yildirim said the outlawed group had made a bid for dialogue after almost a year of renewed violence that ended a two-and-a-half year truce, ...

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