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...Commercial property values have been hit by rising interest rates and fears about the health of the office market....
...London was “by far” the number one city for investment, MSCI said, despite transaction volumes falling....
...Poor data undermines trust and skews forecasting — as several central banks, including the Bank of England, discovered when it came to inflation....
...Activist investor Elliott has built a 5 per cent position in Scottish Mortgage Investment Trust, whose early bets on tech groups such as Amazon turned it into one of the UK’s most popular investment vehicles...
...Citi has consistently lagged behind investment banking rivals JPMorgan, Bank of America and Goldman Sachs. It was the fifth-largest investment bank by fees earned last year, according to LSEG data....
...The buyback, which represents 9 per cent of the trust’s shares, is the largest-ever for an investment trust, according to analysts at Jefferies....
...BNP Paribas is betting momentum in its investment bank will help drive earnings growth this year even as its bond traders underperformed Wall Street peers in the first quarter....
...Lan was accused of embezzling 304tn dong ($12bn) from Vietnam’s Saigon Joint Stock Commercial Bank (SCB) by illegally controlling the bank through proxies, using “ghost” companies to take out loans and giving...
...The business, which includes corporate, commercial and investment banking, lost more than $40mn last year: the only one of Citi’s five divisions not to turn a profit....
...Acquiring Tesco bank for £600mn last week, which boosted UK unsecured lending exposures, offers a hint of this shift. Even without added capital, the investment bank can produce more profits....
...Then there are the banks....
...From a report the investment bank sent out yesterday, with Alphaville’s emphasis below: — The wide adoption of hybrid work caused a structural decline in office demand....
...Warehouse owner Tritax Big Box has agreed a takeover deal for a smaller rival to create the UK’s fourth-largest listed landlord, in the latest example of consolidation among real estate investment trusts...
...Revenues at its investment bank rose 13 per cent to €3bn, driven by a 7 per cent increase in fixed-income trading and a 54 per cent jump in origination and advisory....
...New York Community Bancorp shares fell 38% on Wednesday, partly on worries about the bank’s exposure to commercial real estate....
...Carson Block’s hedge fund Muddy Waters has revealed a bet against the New York-listed Blackstone Mortgage Trust, a $22bn real estate investment trust managed by private equity giant Blackstone....
...Jefferies chief executive Rich Handler has sold $65mn of his stock in the Wall Street investment bank to buy a luxury yacht from longtime client Tilman Fertitta....
...But in a surprise move on Monday, Citigroup announced Raghavan was joining it as the new head of banking, where he’ll oversee investment banking as well as Citi’s corporate and commercial banking operations...
...Regional US lender New York Community Bancorp on Wednesday revealed it had taken large losses on loans tied to commercial property, while Japan’s Aozora Bank and Deutsche Bank on Thursday warned about the...
...Broker Liquidnet said it has seen a surge in trading volumes in real estate investment trusts, and also in property-related debt — not just in the speculative part of the market, but also at the more conservative...
...Fitch, a rival rating agency, downgraded the bank on Friday but left its rating in investment grade territory. Moody’s said NYCB faced numerous “financial, management and risk management” issues....
...Investment trusts make up 27 per cent of the companies in the FTSE 350 index....
...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...
...Blackstone Mortgage Trust provides loans to commercial real estate companies in North America, Europe and Australia. Its market capitalisation is just under $4bn....
...Earlier this week, Nick van Eck, the son of investment manager Jan van Eck, raised $12mn to launch a stablecoin, while payments company PayPal and French bank Société Générale both launched their own stablecoins...
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