Investing

JPMorgan Chase Cutting 19,000 Jobs from Mortgage and Community Banking Units

At the first sign of sequestration, JPMorgan Chase & Co. announced they will dismiss 19,000 people from its mortgage and community banking units, reported Bloomberg Businessweek.

Dismal Outlook on British House Prices Only Adds to Gloomy Economy

A poll released today by Reuters concludes dismal predictions for British house prices. The prices are expected to stagnate by the end of this year.

China's Luxurious Phoenix Island's Decline Sparks Economic Concern

The Chinese island of Hainan, Phoenix Island, also dubbed the Dubai of China for its overpriced, snazzy apartments is on a self-destructive path, reported France 24.
EDITOR'S PICKS
  • Commercial Real Estate Market Recovering Slowly
    The National Association of Realtors' Commercial Real Estate Outlook, NAR, reported today that the commercial real estate market is recovering slowly, according to AGBeat.
    By Ansa Varughese
  • British House Prices Stagnate This Year
    British house prices will stagnate until next year along with a flat-lining economy and weak pay rises, a Reuters poll found on Monday, although London prices are expected to keep climbing.
    By Staff Reporter
  • Villar Mir studying bid for Colonial assets
    Family-owned Spanish group Villar Mir said it was looking at assets owned by Colonial, after a report that it was studying a bid for the loss-making real estate firm's commercial property business.
    By Staff Reporter
  • New Regulation to Hit Number of Franchisee Stores in Indonesia
    The Trade ministry of Indonesia has announced a new regulation limiting the number of stores or outlets a master food franchisee can hold in the country. The new regulation comes as an effort to avoid monopoly in the market and encourage local and small businesses. The new regulation will drive some of the major franchising players like KFC and McDonalds to cut or slow down on outlet expansions in the country.
    By Rapti Gupta
  • U.S. Federal Reserve's Monetary Policy Raising Concerns of Asset Bubble
    The U.S. Federal reserve’s monetary policy has kicked off speculation among experts in the industry about an emerging asset and economic bubble in the country. However, Ben S. Bernanke, Chairman of the reserve has waved away all the concerns claiming that the policy has spurred construction jobs throughout the country and it would not be taking the policy down anytime soon.
    By Rapti Gupta
  • Saudi Arabian Mortgage Law Regulations Almost Complete
    The Government of Saudi Arabia has finished working on three of the five mortgage laws that it had finalized to ease the shortage of housing in the country. Outlines of the three new regulations were posted Sunday, Feb 24, on the website of Saudi Arabian Monetary Agency (SAMA).The three outlined legislations include- Regulations of the real estate financial law, Regulations of the financial lease law and the regulations of the law on supervision of finance companies.
    By Rapti Gupta
  • America’s Largest Home – Versailles Resumes Construction (VIDEO)
    Westgate Resort Founder, David Siegel owned, “Versailles” will resume construction after being stalled for around three years. Construction on the home had been put on hold as the global recession had crippled Siegel’s finances. However, now that the economy and housing market is rebounding, the construction is back on track.
    By Rapti Gupta
  • Morgan Stanley Real Estate Fund Buys Moscow Mall for $1.2 Billion
    Morgan Stanley Real Estate Investing (MSREI) has purchased a commercial mall in Moscow, Russia for a huge $1.2 billion. The Metropolis Mall is located in the Northwest of Moscow and is the largest commercial deal of Russia till date.
    By Rapti Gupta
  • Tishman Speyer Wants More Deals with China Vanke
    Just recently, news was out of China’s leading property development firm, China Vanke Company making its debut into the U.S. property market with a partnership deal with American real estate company, Tishman Speyer. With the partnership deal in its kitty, Speyer now hopes to rope in more joint ventures with Vanke.
    By Rapti Gupta
  • Iraq’s Real Estate Boom Will Offer Extensive Growth Opportunities to Foreign Investors
    Iraq’s real estate sector has come a long way. Post the fall of Saddam Hussein, property prices have risen exponentially in the country leading to a real estate boom. However, this boom will provide maximum opportunities for foreign investment and growth in the area.
    By Rapti Gupta