International News

  Bloomberg The luxury Manhattan co-op, a longtime sign of real estate prestige and exclusivity in New York, may be losing its appeal. Blame a glut of newly built high-end condos. Contracts for co-op apartments priced at $4 million or more fell 25 percent this year from 2015, as buyers with means opted for newer homes with more amenities and ...

  Bloomberg UK house prices may only eke out a modest gain next year as economic growth weakens and a pickup in inflation squeezes consumers, according to Halifax. The mortgage lender sees housing demand easing in 2017, partly as tax changes and stricter underwriting standards restrict buy-to-let investment. It also highlighted the market in London, saying adverse affordability means the ...

  Bloomberg Supporters of Britain’s exit from the European Union wrote to business groups in the 27 other nations in the bloc urging them to push their governments for a “sensible agreement” for trade after Brexit to avoid disrupting trade. “Many EU member states export significant amounts of goods to the UK and the erection of barriers to this trade ...

  Bloomberg Home prices in 20 US cities maintained a steady pace of increases in October while a gauge of nationwide property values rose by the most since mid-2014, according to S&P CoreLogic Case-Shiller data released. 20-city property values index rose 5.1 percent from October 2015 (forecast was 5 percent) after a 5 percent gain in the year through September. ...

  Bloomberg Toshiba Corp. can’t get past its accounting problems. The Japanese company, which paid a record fine a year ago for its bookkeeping practices, warned that it may now have to take another charge of several billion dollars related to an acquisition made by US unit Westinghouse Electric. The company’s shares fell 12 percent to 392 yen at the ...

  Bloomberg Profits at industrial firms in China accelerated in November, with raw material producers leading gains, as prices of products such as coal and metals continued to advance. Industrial profits rose 14.5 percent from a year earlier to 774.6 billion yuan ($111 billion), the National Bureau of Statistics said on Tuesday. That compared with the 9.8 percent increase in ...

  Bloomberg A South Korean court handling the bankruptcy case of STX Offshore and Shipbuilding Co., said Tuesday that only a single bidder had submitted a binding proposal to buy the shipyard’s profitable French unit. Italian shipbuilding giant Fincantieri SpA, Netherlands-based Damen Shipyards Group and French state-controlled naval shipbuilder DCNS had initially expressed interest in acquiring STX France, which specialises ...

  Bloomberg A private university in Thailand has begun accepting rice in payment for tuition fees as the nation struggles under a grain glut that’s hurting farm incomes. Students enrolled at Rangsit University in Bangkok’s northern suburbs can pay all or part of next semester’s costs with rice, said Worachat Churdchomjan, a dean who helped set up the program. The ...

  Bloomberg Issuance of CLOs (Collateralized Loan Obligation) in Europe in 2017 may exceed this year’s record for post- crisis sales with a well-stocked pipeline of new deals, no let-up in investor demand and supportive credit conditions. Themes seen in recent months look set to carry over into next year, with the issuer and investor base diversifying, more CLO refinancings ...

  London / AFP Britain’s economy grew faster than expected in the third quarter, revised official data showed, indicating no impact yet from the nation’s looming exit from the European Union. Gross domestic product expanded by 0.6 percent in the three months to the end of September, up from the previous estimate of 0.5 percent, the Office for National Statistics ...