A day after two students were killed at a school in California, a new bill will seek to have banks work with the government on financial activity related to firearms.
Click on the selected day to download the News section of the The Daily Business Review in PDF format. : Cheryl Miller tracks law firm cannabis practices and clears the haze around the biggest legal issues. Sign up for the weekly Higher Law newsletter.
As the fallout from WeWork's stumbles continues, one could easily wonder if the market is beginning to question not only the position of WeWork backer SoftBank in the tech investment space, but whether venture capitalists (VCs) have placed too much confidence in tech startups as a whole. The answer is no, according to a Thursday [...]
Weak outlook of key user industries to aggravate problems for Pune residential real estate; accelerated market consolidation likely. A.: Regulatory developments, changing financing environment and weak demand has been affecting real estate prices in Pune so much so that the city is grappling with an unsold inventory valued at almost Rs 1.05 lakh crore, says an ICRA analysis. Further, deferment of purchases from buyers and preference for ready apartments is also a trend observed in Pune in line with other key markets in the country. This is also putting pressure on developers' cash flow position, it said.
The third crossing from the mainland to Anglesey is one of the biggest infrastructure projects planned in North Wales. : The third crossing from the mainland to Anglesey is one of the biggest infrastructure projects planned in North Wales Welsh Government last year announced a preferred route for a third bridge crossing over the Menai Strait - with construction due to start in 2021. Welsh Government Economy and Transport minister Ken Skates has now said making a business case for the bridge without the nuclear scheme was "difficult".
Avanath has bought communities in Alexandria, Virginia and Orlando, Florida. : The real estate manager said it has bought the two communities with a combined total of 578 units in Alexandria, Virginia and Orlando, Florida. The 290-unit Alexandria Station affordable apartment community was acquired for $52.7m. The 251,579sqft asset, built in 1965 and renovated in 1998 and 2010, is a 97% occupied affordable family community comprising 25 three-story structures. Avanath expects to implement a series of upgrades to the interior and exterior of the property, including the redevelopment of its community spaces.
Pension fund makes $3.4bn of acquisitions involving mostly core assets. : The California Public Employees' Retirement System (CalPERS) has increased the core weighting of its $33.4bn (EUR29.8bn) real estate portfolio from 78% to 85% over the past 12 months. The $380bn pension fund, which has a policy in place not to have less than 75% of real estate porfolio in core assets, said in a board meeting document that it was able to increase its core exposure through $3.4bn of new US real estate acquisitions during the period.
The European Investment Bank (EIB) has unveiled a new energy lending policy that will stop all financing for fossil fuel projects at the end of 2021 and unlock EUR1trn in sustainable development over the next decade.
* Unizo centre of much investor attention due to value of assets. : TOKYO (Reuters) - Fortress Investment Group on Friday raised its bid for Japan's Unizo Holdings (3258.T) by just 2.5%, still far below an offer from rival suitor Blackstone Group (BX.N) but keeping its hand in what could become a long fight for the hotel operator. Unizo had at one stage turned to SoftBank Group-owned (9984.T) Fortress for help in fending off an offer from domestic travel firm H.I.S. Co Ltd (9603.T).