United States

Housing Market

Global funds cut share holdings to five-year lows as Brexit bites


LONDON Global investors dumped equities in July and raised bond allocations after Britain's vote to leave the European Union and subsequent signs of damage to economic growth prompted a dash toward fixed income.

Poll: China fund managers trim suggested equity exposure on weak outlook

SHANGHAI China fund managers trimmed their suggested equity exposure for the next three months from a one-year high in the face of continued downward pressure on the domestic economy and stepped-up regulation, according to Reuters' latest monthly poll.

Jul 29 2016

Brexit shockwaves hit British jobs, banks, automobiles

LONDON Shockwaves from Britain's vote to leave the European Union rocked the economy on Thursday, with thousands of jobs lost at one of the country's biggest banks, big extra costs for Ford, and consumer confidence plunging.

Jul 28 2016

Buyout firm Bain to sell hotel assets in Japan REIT IPO: sources

TOKYO U.S. buyout firm Bain Capital is selling part of its Japan hotel assets through a real estate investment trust (REIT) initial public offering (IPO) in Tokyo that may raise nearly 20 billion yen ($190.35 million), sources familiar with the matter said.

Jul 28 2016

China's Fosun nears Brazil fund purchase, source says

SAO PAULO Fosun International Ltd is in advanced talks to buy Brazilian fund manager Rio Bravo Investimentos Ltda, a source familiar with the matter said on Wednesday, in what would be the Chinese firm's first investment in Brazil.

Jul 27 2016

Hilton, Marriott cut forecast for key revenue measure

Hilton Worldwide Holdings Inc and smaller rival Marriott International Inc lowered their full-year forecasts for a key revenue metric, underscoring the impact of political and economic uncertainties in markets outside the United States.

Jul 27 2016

U.S. Treasury expands hunt for money laundering in real estate

WASHINGTON The U.S. Treasury on Wednesday expanded its hunt for international criminals who launder money through real-estate deals by ordering title insurance companies to report all-cash buyers' identities in parts of California and Texas, as well as greater swaths of New York and Florida.

Jul 27 2016

Stay local, act fast: tiny Spanish bank offers survival manual for Italian peers

ONTINYENT, Spain The patient had made an appointment to see the surgeon at his consulting room in the local hospital, but when he arrived, he told Dr Antonio Carbonell he wasn't actually unwell. He wanted to talk about his mortgage.

Jul 27 2016

Pending home sales rise slightly in June

WASHINGTON Contracts to buy previously owned U.S. homes rose far less than expected in June, another sign that a lack of inventory is crimping activity despite mortgage rates being at near-record lows.

Jul 27 2016

Beijing's property sales surge 65 percent in 2015: white paper

BEIJING Property sales in Beijing rose 64.8 percent in 2015, boosted by more favorable housing policies, according to a real estate white paper released by the city's government.

Jul 27 2016