China property developer's family in talks to buy stake in GM building: WSJ
(Reuters) - The family of Soho China Ltd's (0410.HK) chief executive Zhang Xin is in discussions to buy a 40 percent stake in the 1.8 million square foot General Motors building in Manhattan, the Wall Street Journal reported on Thursday, citing real-estate executives familiar with the talks.
The sellers include the sovereign-wealth funds of Qatar and Kuwait, which invested through a Goldman Sachs Group (GS.N) fund, as well as an investor associated with the ruling family of Dubai, the business daily said.
If completed, the deal would value the tower at $3.4 billion, according to the executives, the Journal reported. (link.reuters.com/cum56t)
(Reporting By Vrinda Manocha in Bangalore; Editing by Gary Hill)
WASHINGTON - The Federal Reserve on Wednesday reaffirmed it was in no rush to raise interest rates, even as it upgraded its assessment of the U.S. economy and expressed some comfort that inflation was moving up toward its target.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.