Bloomberg Wells Fargo & Co. agreed to purchase a new London headquarters in a move that will enable the US bank to increase its presence in the UK capital. The building, known as 33 Central, is due to be completed in the third quarter of 2017, according to a statement on Monday from the developer, HB Reavis Group. The ...

  Bloomberg China’s home-price gains tapered off last month, as second-tier cities joined some of the nation’s largest hubs in imposing housing curbs to cool surging prices. New-home prices excluding government-subsidised housing climbed in 55 cities in June, down from 60 in May, among the 70 tracked, the National Bureau of Statistics said this week. Prices dropped in 10 cities, ...

  Bloomberg London’s seven-year housing boom may be about to end after the UK voted to leave the European Union. “While in recent stress tests, the major UK banks were assessed with declines of around 30 percent in commercial real estate prices, we fear that London residential could experience an even more severe downturn,” Societe Generale analysts including Marc Mozzi ...

  Bloomberg China largest residential real estate developer Vanke Co.’s shares have fallen below the level that JPMorgan Chase & Co. analysts said might trigger a liquidity squeeze at funds managed by its largest shareholder, Baoneng Group. The Shenzhen-traded Vanke shares have tumbled almost 30 percent after they resumed trading on July 4 following a six-month halt. The shares fell ...

  Bloomberg It used to be that you had to traverse the Indian or South Pacific ocean to sleep in a thatched-roof, overwater bungalow — the epitome of luxury accommodations. With ladders that descend straight into turquoise waters, four-poster beds with gauzy mosquito netting, and private plunge pools, they’re the stuff of honeymoon dreams. Now you can get the floating ...

Bloomberg Confidence among US homebuilders declined in July from a five-month high, showing the construction industry remains in a slow, if unspectacular, recovery as the busiest part of the selling season comes to a close, according to data this week from the National Association of Home Builders (NAHB) / Wells Fargo. Key points Builder sentiment gauge declined to 59 from ...

  Bloomberg Cathay Pacific Airways Ltd. slumped the most in three weeks after Asia’s biggest international carrier said first-half performance was “below expectations” and yields were under “intense pressure.” Shares snapped six days of gains after the Hong Kong-based airline said in a statement to the stock exchange this week that combined passenger load factor for Cathay Pacific and unit ...

  Bloomberg South African Airways (SAA) completed a flight using jet fuel made from a tobacco plant, its first contribution to the global push to power more air journeys from renewable resources. SAA used 6,300 liters of bio jet fuel for the one-way trip to Cape Town from Johannesburg, the state-owned carrier said. The initiative was carried out in conjunction ...

  New York / AP Losing near-monopoly control over Newark Liberty International Airport is going to cost United Airlines $412 million, or $264 million after taxes. The Federal Aviation Administration (FAA) announced that it would lift all the restrictions at Newark, essentially opening it to as many flights and airlines that could secure gate space at the airport. The new flight ...

  Washington / AP US consumer prices rose modestly in June as the costs of gasoline and rent kept climbing, while sales at American retailers registered a healthy gain. The Labour Department said that consumer prices increased 0.2 percent last month, matching the gain in May. Prices are up 1 percent from a year ago, well below the Federal Reserve’s 2 ...