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...In a research note on Monday, Bank of America analysts said they had “several conversations” with the NYCB management team over the past 48 hours....
...Kemp said the fund will also target properties owned by other private capital groups....
...As bond yields have risen, property has faced growing competition for cash....
...Sotheby’s can pay its agents more, Azar said, in part because he has torn up the traditional system of neighbourhood offices, giving his agents geographic freedom and cutting layers of management....
...Liontrust’s fortunes illustrate how M&A is not a panacea for the challenges facing the fund management industry....
...Moody’s said NYCB faced numerous “financial, management and risk management” issues....
...However, the rating agency did say that it saw the suspension of debt payments as “a portfolio management exercise by BPY, not a default”, and that parent Brookfield Corporation, with $850bn of assets under...
...Alexander Yokum, an analyst at CFRA, downgraded NYCB’s shares to “hold” on Wednesday, saying: “Our diminished view reflects falling confidence in management’s ability to integrate its recent acquisitions...
...The decline moderated, leaving shares down almost 26 per cent on the day and taking their year-to-date drop to 65 per cent amid worries about the US regional lender’s exposure to the commercial property...
...After taking the keys to the auction house, Drahi then layered on hundreds of millions of dollars more debt by mortgaging off Sotheby’s trophy properties in London and New York....
...Analysts expect the country’s economy to continue to slow in the medium term thanks to the property downturn and demographic decline....
...First, a couple of the problems: 1) Sometimes these covenants only cover transfers of intellectual property....
...It involves turning assets such as stocks and bonds, property, mutual funds or even data into a digital token recorded on a blockchain....
...Vanessa Errecarte is a lecturer in marketing at the UC Davis Graduate School of Management and owns a branding and digital marketing consultancy, Marketing Simplified...
...Arkhouse Management has launched a proxy fight to take control of the board after Macy’s rejected its unsolicited $5.8bn take-private offer....
...Management said the results showed progress in a strategy to build out other divisions less focused on transactions: consultancy, where revenue was flat year on year, and property management, where turnover...
...This includes the homebuilders (up 40 per cent or so) and commercial real estate plays such as Boston Properties and Simon Property Group....
...The strategist and professor Michael Mauboussin, of Morgan Stanley Investment Management, has a new paper tracing increasing returns to five separate causes: economies of scale; international trade; learning...
...Brookfield has hired Sir Ron Kalifa, the former head of payments group Worldpay, to lead its push into financial infrastructure assets as the Canadian investment group expands further beyond the property...
...Macy’s stock gained 19 per cent Monday on news of the $21-per-share offer from Brigade Capital Management and Arkhouse Management....
...The big Reits stuck to first mortgages, large loans and careful liability management....
...But on Thursday morning, the bank announced Rickenbacher was leaving after it wrote off its entire $700mn exposure to beleaguered Austrian luxury property developer Signa....
...It has teamed up with Optimum Asset Management to raise a €500mn real estate fund....
...Goldman Sachs and Morgan Stanley, whose businesses skew more towards investment banking and money management, report earnings on Tuesday....
...Where is Uber’s exclusive intellectual property? Is urban transport really winner-take-most?...
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