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...The drop left London the worst-performing region in the UK, even as it remained the most expensive part of the country, with a typical property costing £503,000, well above the national average of £281,000...
...Lloyds and Wells Fargo make an interesting comparison, and again Lloyds is tempting....
...Meanwhile, a recent rise in UK home sales and a fall in mortgage rates have created a slightly more hospitable market for buyers....
...In the past year delinquent commercial property debt for the six big banks — JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs and Morgan Stanley — nearly tripled to $9.3bn....
...The tapering of the personal allowance results in a 62 per cent marginal tax rate — if national insurance is included — on the band of income between £100,000 and £125,140 as well as the loss of any state...
...This is where city authorities can play a facilitating role....
...Profits at Wells Fargo fell from $5bn to $4.6bn. Private equity pioneer KKR is predicting a revival in global IPOs and takeover activity after a two-year slowdown....
...Here’s what else I’m keeping tabs on today: Earnings: The major US banks begin reporting earnings today, with JPMorgan, Citi and Wells Fargo all updating investors....
...The city’s unemployment rate remains well above the national average....
...“Getting a mortgage for 3 per cent, rather than the 7-8 per cent rates in the US, made it seem a good investment right now....
...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...
...But with well-paying jobs and a significant savings pot accumulated over many years, they could afford to take their time....
...The National Association of Home Builders/Wells Fargo housing market index fell from 56 to 50 this month, signalling a slowdown in business for companies that build single-family homes....
...Wells Fargo recently cited WeWork’s troubles among its reasons for adding a $20.5mn mortgage on 599 Broadway, a midsized office building in lower Manhattan, to its watchlist of loans at risk of missed payments...
...SoftBank executives encouraged Better to go public through the Spac as the market for blank-cheque companies and mortgages was booming....
...In reality, such a step would face immense legal and constitutional hurdles — and, as a former resident of Brussels, I have the feeling it wouldn’t go down well with large numbers of Belgians in the city...
...It’s also a national holiday....
...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....
...BlackRock, Citigroup, JPMorgan Chase, Wells Fargo, BNY Mellon and Bank of America will all report fourth-quarter figures on Friday....
...The global city where Big Four professionals use burner phones For decades, Hong Kong has made its name as a global city, a place where companies could base their Asia-Pacific headquarters and do business...
...In the city every day, it seems has a gloomy story about some kind of bank thinking about cutting jobs....
...The sharp jump in rental costs comes as rising interest rates have increased mortgage payments....
...This month, US homebuilder confidence slipped for the first time this year according to an index compiled by the National Association of Home Builders and Wells Fargo....
...Both monikers refer to the Swiss city in which the committee that formulates the rules meets....
...Lower-tier cities saw the biggest declines, but the housing downturn is looking increasingly broad-based, with even tier-1 cities like Shenzhen suffering a slight dip in prices....
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