By Brittany De Lea Published March 20, 2019 U.S. Economy FOXBusiness Facebook Twitter Comments Print video Class-action lawsuit accuses NAR of inflating commission prices Mantill Williams, VP of public relations and communications at NAR, responds to the class-action antitrust lawsuit filed against his company by a group of home sellers. A class-action lawsuit has been filed against major U.S. real estate firms, accused of violating antitrust laws. Continue Reading Below According to the suit (Moerhl v National Association Realtors (NAR)) – filed in federal district court in Chicago – the defendants worked together to require home sellers to pay the broker representing the buyer of their homes at “inflated” amounts. MORE FROM FOXBUSINESS.COM... HOUSE HUNTING? IS NOW A GOOD TIME TO BUY A HOME? CITIES WHERE AMERICANS HAVE THE MOST CASH LEFT OVER AFTER PAYING THEIR MORTGAGES The lawsuit … [Read more...] about Real estate firms accused of ‘conspiring’ to overcharge home sellers in class-action suit
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By Jenny Surane Bloomberg Matthew Monks Wed., March 13, 2019 After shuffling its top investment-banking brass and adding more than a dozen senior bankers in recent months, Royal Bank of Canada is looking to advise its U.S. corporate clients on bigger deals. The strategy is already starting to bear fruit. Royal Bank of Canada was the sole adviser to BB&T Corp. in its planned $28 billion (U.S.) acquisition of SunTrust Banks Inc., the world’s largest bank merger in more than a decade. The firm also advised Melrose Industries Plc on its $11 billion takeover of GKN Ltd. and it helped arrange the financing for megadeals involving Walt Disney Co. and T-Mobile US Inc. “As our platform and relationships have grown, we expect we’ll start to work on larger, more strategic transactions,” Derek Neldner, Royal Bank of Canada’s global head of investment banking, said in an interview at the RBC Financial Institutions Conference, held this week … [Read more...] about RBC hunts for bigger deals with U.S. investment-banking push
By Vera Gibbons Published January 30, 2019 Personal Finance FOXBusiness Facebook Twitter Comments Print video Billionaire Ken Griffin’s $238 million apartment is ‘raw’ space: Dolly Lenz Real Estate CEO Dolly Lenz Real Estate CEO Dolly Lenz and Dolly Lenz Managing Director Jenny Lenz on how billionaire Ken Griffin bought a New York penthouse for $238 million and how they are expecting property prices in New York City to drop in 2019. You’ve likely heard: Hedge fund billionaire Ken Griffin, founder of Chicago-based investment firm Citadel, just bought a 24,000 square-foot penthouse overlooking Central Park -- for $238 million. Continue Reading Below The transaction garnered national attention last week because it’s the highest price anyone has ever paid for a home in the United States, and $100 million above the previous record. MORE FROM FOXBUSINESS.COM... A LOOK AT KEN GRIFFIN’S RECORD-BREAKING … [Read more...] about What America’s most expensive home sale says about US real estate, economy
By WSJ Tues., Jan. 29, 2019 This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. Washington and Beijing are still far apart on trade—and new allegations against China's telecommunications champion certainly won't improve the mood as talks begin Wednesday. Good morning. Jeff Sparshott here to take you through key developments in the global economy. We'll also look at U.S. and Chinese economic growth, the Fed chairman's trouble with words and the European Central Bank's itchy trigger finger. Let us know what you think by replying to this email. LET'S MAKE A DEAL The U.S. and China remain sharply divided on trade issues, suggesting a hard slog ahead of a March 1 deadline. The two sides resume talks Wednesday. Article Continued Below The Chinese delegation plans to offer a big increase in purchases of U.S. farm products and energy, along with modest reforms in industrial … [Read more...] about Real Time Economics: Can the U.S. and China Make a Deal?
By Esther Fung WSJ Tues., Jan. 29, 2019 Chinese purchases of U.S. real estate last year dwindled to their lowest level since 2012, as Beijing kept up the pressure on Chinese investors to bring cash home during a period of worsening economic growth. Insurers, conglomerates and other investors from mainland China were net sellers of $854 million of U.S. commercial real estate in the fourth quarter, according to Real Capital Analytics. That marked the third-straight quarter Chinese investors sold more U.S. property than they bought, the first time ever these investors have been sellers for that long a stretch. The selling during most of 2018 marked a powerful reversal from the previous five years, when Chinese investors went on a massive buying spree, often handily outbidding other investors for U.S. trophy properties. They spent tens of billions dollars on luxury hotels like the landmark Waldorf Astoria in New York, a nearly $1 billion skyscraper development in … [Read more...] about Chinese Exiting U.S. Real Estate as Beijing Directs Money Back to Shore Up Economy