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...With the Bank of England raising interest rates from 0.1 per cent at the end of 2021 to 5.25 per cent last summer in a bid to tame inflation, “affordability in London has deteriorated more than elsewhere...
...The third-quarter data did not capture the impact of this week’s bankruptcy filing by desk rental company WeWork, one of the largest office tenants in cities from New York to San Francisco....
...Adam Walkom, a financial planner and partner at Permanent Wealth Partners, has lots of clients who are City workers in their 30s and 40s....
...Mortgage rates have stabilised since late last year after the Bank of England held interest rates....
...“This won’t be the last of these stories,” said Adelaide Polsinelli, a longtime New York City broker and vice-chair at Compass....
...The US government has asked JPMorgan, PNC and several other financial groups, including a handful of non-bank investment firms, to bid for all or part of First Republic, as US regulators try to determine...
...The upshot of Wednesday’s ruling is that “Trump must post a bond and, until then, the attorney-general can direct a New York City sheriff or marshal to walk into a bank or other financial institution and...
...Eleven large banks including JPMorgan and PNC put $30bn in deposits with First Republic last month in a failed attempt to stabilise the bank....
...“The city feels as vital as it has ever been: we wanted to be ahead of the curve; we didn’t want to get into a bidding war.”...
...An estimated $1.2tn of US CRE debt is maturing in the next two years, according to the Mortgage Bankers Association....
...Price gains in certain US cities have far outstripped the national average, which is up 6.7 per cent since its January low, according to the S&P Case-Shiller national index....
...director in the Fed’s supervision and regulation division....
...On the first day of the National People’s Congress, the country’s rubber-stamp parliament, Li also outlined a plan to issue Rmb1tn of ultra-long-term special treasury bonds to implement “major national strategies...
...for locals; at the last count, the company had hired about one in four of the city’s referrals....
...Only one of the names in the chart below (PNC Financial) could be considered anything close to a regional bank, and even that one is so large that it almost deserves its own separate category....
...If customers aren’t gorging on subscription lines, margin loans, interest-only mortgages and other tailored debts, it diminishes the selling points of a bank....
...But a Financial Times analysis of company announcements and state media reports shows that dozens of Chinese SOEs have established these new departments in recent months. We’re also reading . . ....
...Crowds wearing pink — the colour of the election authority’s logo — and waving national flags marched through Mexico City and other cities to reject the president’s vision....
...In the city every day, it seems has a gloomy story about some kind of bank thinking about cutting jobs....
...The Spanish company has been shifting its focus to more stylish designs in its long-running battle with Swedish rival H&M. As we highlighted in Monday’s DT, stock markets are having a bit of a moment....
...Shortly after the financial crisis, she landed one of the toughest assignments at the bank: turning around Citi’s mortgage division, the unit that had created many of the toxic loans that had nearly taken...
...This contrasts with Italy, where there are no such tax incentives and banks are more cautious about lending and forbearances on mortgage loans, he added....
...A rare bit of M&A to create the UK’s leading housebuilder and new data showing property prices continuing to rise offer new hope for a sector that has been badly hit by higher mortgage rates....
...The UK has said it will scrap a cap on bankers’ bonuses that was inherited from the EU as part of its post-Brexit push to boost the City of London....
...Property investors now pay £15bn in mortgage interest every year, up by 58 per cent since November 2021, on the eve of the Bank of England’s rate rising campaign....
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