DIRS.INFO The most relevant business & tech news

☆ European companies in China are under pressure from slower growth, overcapacity
▼ + stars: | 2024-05-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — European companies in China are finding it harder to make money in the country as growth slows and overcapacity pressures increase, according to a survey released Friday by the EU Chamber of Commerce in China. Only 30% of EU Chamber survey respondents said their profit margins were higher in China than their company's worldwide average — an eight-year low. Jens Eskelund EU Chamber of Commerce in China, presidentChina's economy is now far bigger than it was in 2015 and 2016. More than one-third of EU Chamber survey respondents said they observed overcapacity in their industry in the last year, and another 10% expect to see it in the near future. "This is not just European companies whining," Eskelund said.

Persons: Carlo D'Andrea, D'Andrea, Jens Eskelund, Eskelund, overcapacity Organizations: Nurphoto, Getty, EU Chamber of Commerce, EU, of Commerce, U.S, Bureau, Statistics, Cosmetics Locations: Minhou County, Fuzhou, China, BEIJING, Shanghai, Beijing

☆ REITs outperform in a higher interest rate environment, says BMO Capital's Brian Belski
▼ + stars: | 2024-05-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailREITs outperform in a higher interest rate environment, says BMO Capital's Brian BelskiBrian Belski, BMO Capital chief investment strategist, joins CNBC's 'Squawk on the Street' to discuss markets, real estate, and more.

Persons: Brian Belski Brian Belski Organizations: BMO, BMO Capital

☆ Real estate in mainland China remains good, says Hang Lung Properties Honorary Chair Ronnie Chan
▼ + stars: | 2024-05-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailReal estate in mainland China remains good, says Hang Lung Properties Honorary Chair Ronnie ChanRonnie Chan, honorary chair of Hang Lung Properties, shares his thoughts on mainland China's property market and what's stopping the company from investing in Saudi Arabia.

Persons: Ronnie Chan Ronnie Chan Organizations: Hang Lung Locations: China, Saudi Arabia

☆ Billionaire Barry Sternlicht predicts weekly bank closures as the real estate sector battles high interest rates and inflation
▼ + stars: | 2024-05-09 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +1 min

Billionaire Barry Sternlicht is worried about America's regional and community banks. Sternlicht told CNBC that banks may bear the consequences of the real estate crisis. AdvertisementBillionaire Barry Sternlicht offered an ominous prediction about America's regional banks amid a coming commercial real estate reckoning. The Starwood Capital Group CEO told CNBC on Tuesday that he thinks real estate's primary lenders — regional and community banks — could soon be bearing the brunt of high interest rates and inflation. "You're going to see a regional bank fail every day, or not — every week, maybe two a week," Sternlicht said.

Persons: Barry Sternlicht, Sternlicht, — Organizations: CNBC, Service, Starwood Capital, Business

☆ Affordable homes haven't been this hard to find in years despite lower mortgage rates — but prices are declining in these 15 cities
▼ + stars: | 2024-05-09 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Price growth was partially offset by lower mortgage costs, as 30-year fixed rates hung between 6.6% and 6.94% in the first quarter. That's a small win for buyers, considering that rates peaked at 7.8% late last year and were above 7% until mid-December. At the first sight of lower mortgage rates, that widespread price appreciation has returned — much to the chagrin of buyers who thought they were going to catch a break. Conversely, prices fell outright only in 15 cities, versus 32 in the fourth quarter of 2023. 15 cities where home prices are downBelow are those 15 US real-estate markets where single-family home prices fell from last year.

Persons: —, Lawrence Yun Organizations: Service, National Association of Realtors, Business, NAR Locations: That's

☆ 'Seriously underwater' mortgages are on the rise throughout the US, with Southern states seeing the biggest jump
▼ + stars: | 2024-05-09 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

The percentage of "seriously underwater" mortgages rose in the first quarter. That's according to ATTOM, which notes the South has seen a bigger jump in seriously underwater mortgages. Though the percentage of seriously underwater mortgaged homes rose slightly nationwide, it remains lower than pre-pandemic levels. ATTOM said the South and Midwest regions account for nine out of the 10 states with the highest share of seriously underwater mortgages. Meanwhile, among 107 metropolitan areas with over 500,000 people, Baton Rouge, Louisiana, topped the list with 13.4% of all mortgages seriously underwater.

Persons: —, ATTOM Organizations: Service, Oklahoma Locations: Midwest, West Virginia, Arkansas, Baton Rouge , Louisiana, New Orleans, Jackson , Mississippi, Rock , Arkansas, Syracuse , New York

☆ Golden visas attracted wealthy Americans to Southern Europe. Then their housing crisis followed.
▼ + stars: | 2024-05-09 | by ( Eliza Relman | ) www.businessinsider.com time to read: +8 min

This is in part the doing of so-called "golden visas," hugely popular residency visas for foreign investors. And they purchased more Portuguese golden visas than any other nationality in 2022. Related storiesBut as Portugal has experienced a worsening housing affordability crisis, Portuguese public opinion on golden visas has soured. Last year, the country changed the terms of its golden visa program to exclude real estate investment. Other southern European countries are following suit, similarly pointing to skyrocketing real estate prices.

Persons: —, They're, they're, João Pereira dos Santos, Pereira dos Santos, Nuno Fazenda, Holger Schmieding, Schmieding, David Zorrakino Organizations: Service, Business, The New York Times, School of Economics, Finance, Queen Mary University of London, State, Tourism, Trade, Services, Bloomberg, Berenberg Bank, Getty, European Central Bank, Paris Locations: Greece, Portugal, Tourism, Lisbon, Athens, Spain, Southern Europe, Portuguese, London, Ramblas, Barcelona, Catalonia, Europe, Germany, Netherlands, France

☆ Big Chinese cities are making it easier to buy homes to boost depressed property market
▼ + stars: | 2024-05-09 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Last October it removed curbs in most districts, and in March loosened restrictions on purchases of second homes. Other cities have also taken major steps to make the process of buying property easier. Changsha, the capital city of Hunan province, has also lifted home purchase curbs since last month. “The April Politburo meeting set a more supportive tone for the property sector, prioritizing the reduction of existing home inventory,” they said. “This may suggest that more local governments may be allowed to purchase homes directly from the market for social housing purposes.”

Organizations: Hong Kong CNN, Geely, Hangzhou Housing Security, Real, Administration, Getty Images, homebuyers, Communist Party, UBS Locations: China, Hong Kong, Hangzhou, Chengdu, China's, Sichuan, Getty Images Chengdu, Changsha, Hunan province, Evergrande, Beijing

☆ Treasury launches ‘Project Fortress,’ an alliance with banks against hackers
▼ + stars: | 2024-05-09 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

The new public-private partnership, dubbed Project Fortress, underscores the real danger US officials and bank executives believe cyberattacks pose to the economy. But Project Fortress is not just about playing defense. Project Fortress has been in the works for several months, with Treasury rolling out various parts of the alliance in pieces, the source said. One of the key elements of Project Fortress is the cyber hygiene tool run by the Cybersecurity and Infrastructure Security Agency (CISA). The federal government has recently flexed its offensive capabilities, including ones that are part of Project Fortress.

Persons: Wally Adeyemo, Janet Yellen, Adeyemo, Jamie Dimon, Brian Moynihan, Jane Fraser, Robin Vince, ” Vince, Vince, Jerome Powell, ” Adeyemo, Sean Lyngaas Organizations: New, New York CNN, Treasury, CNN, Bank Policy, JPMorgan Chase, Bank of America, Citigroup, BNY, Washington, Industrial, Commercial Bank of China, Infrastructure Security Agency, JPMorgan Locations: New York, Washington

☆ Tech sits out Thursday's rally as the S&P 500 inches closer to its March record
▼ + stars: | 2024-05-09 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Thursday's gains put the S & P 500 less than 1% away from its record close on March 28. Tech sits out: The only S & P 500 sector in the red Thursday was technology. A bunch of solar stocks, which fall under the tech bucket, were lower after SolarEdge gave disappointing second-quarter guidance. S & P leaders: The top-performing sectors in the S & P 500 on Thursday were real estate, utilities and energy. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Dow, Stocks, We'll, we'll, SolarEdge, It's, Jayshree, What's, Jim Cramer's, Jim Organizations: CNBC, University of Michigan's, Tech, Arm Holdings, Arista Networks, Dow, Utilities, Technologies, Insulet Corp, Akamai Technologies, Jim Cramer's Charitable Locations: SolarEdge, Salesforce

☆ Barron Trump selected to be a Florida delegate at Republican National Convention
▼ + stars: | 2024-05-09 | by ( Kristen Holmes | ) edition.cnn.com time to read: +2 min

CNN —Former President Donald Trump’s youngest son, Barron Trump, was selected by the Florida GOP as an at-large delegate for Florida at the Republican National Convention, according to a list of delegates obtained by CNN. Barron joins several other family members – Donald Trump Jr., Eric Trump and Tiffany Trump – who were also selected. Before Donald Trump’s hush money criminal trial began, his attorneys had asked for May 17 off so that he could attend Barron’s graduation. The Republican National Committee will hold its convention in Milwaukee in July. Last month, the RNC asked the Secret Service to keep protesters farther back from the convention than is currently planned.

Persons: Donald Trump’s, Barron Trump, Barron, – Donald Trump Jr, Eric Trump, Tiffany Trump –, Steve Witkoff, Trump’s, Sergio Gor, Trump, Todd Steggerda, …, ”, Alexi Worley, ” Donald Trump, CNN’s Kate Sullivan, Shania Shelton, Daniel Strauss Organizations: CNN, Florida GOP, Florida, Republican National Convention, Trump, NBC News, Republican National, RNC, Service, Secret Locations: Florida, Milwaukee, Milwaukee’s

☆ FTX customers are getting a rare good deal. Here’s why some are still angry
▼ + stars: | 2024-05-09 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

And yet, for FTX customers, there’s an unavoidable twinge of resentment over what could have been. See here: If you had one bitcoin in an FTX account in mid-November of 2022, it was worth about $17,500. The bankruptcy managers tracked down all of FTX’s crypto and other holdings and hired an investment manager to sell them. The bull run inflated the value of FTX’s significant crypto holdings, leaving the estate with more than enough to pay back customers. Although FTX said it would have as much as $16 billion to disburse, customers and Uncle Sam get paid out first.

Persons: CNN Business ’, bitcoin, it’d, you’d, Tom Brady, John Ray III, Ray, they’ll, FTX, Uncle Sam, Sam Bankman, SBF, he’d, SBF’s, who’s, Fried Organizations: CNN Business, New York CNN —, Sequoia, Prosecutors Locations: New York, FTX, bitcoin, Bankman

☆ The West is freaking out that China is making too much stuff, and it looks like China might be starting to agree
▼ + stars: | 2024-05-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

The proposal covers a range of issues, including minimum technical standards and ecological guidelines for battery production. AdvertisementChina's battery production in 2023 alone was already big enough to fill global demand, according to an analysis from BloombergNEF. China's global share of battery manufacturing capacity is expected to fallDespite the West's consternation, there is an upside for the bloc. China's global share of battery manufacturing is expected to decline in the years ahead, according to a report from the International Energy Agency, or IEA, published on Monday. AdvertisementChina now accounts for more than 80% of battery manufacturing capacity, followed by the US and the EU with around 5% each, per the IEA.

Persons: China's, —, Xi Jinping's, Louise Loo, Loo, Chim Lee, Lee Organizations: Service, China's Ministry of Industry, Information Technology, European Union, Oxford Economics, Economist Intelligence, International Energy Agency, US, EU Locations: China, Beijing, Canada, Europe, India

☆ Google CEO Sundar Pichai explains why the company keeps doing layoffs
▼ + stars: | 2024-05-09 | by ( Ana Altchek | ) www.businessinsider.com time to read: +2 min

Google is conducting waves of ongoing layoffs intentionally, according to Sundar Pichai. Sundar Pichai said the company is "taking the time to do it correctly and well" in a Bloomberg interview. The company started 2024 with thousands of cuts, particularly from engineering and hardware teams. Google CEO Sundar Pichai told Bloomberg reporter Emily Chang that the company is "taking the time to do it correctly and well." A Google spokesperson told BI that the company made a number of changes to become more efficient, remove layers, and align resources to its biggest priorities.

Persons: Sundar Pichai, —, Emily Chang, Pichai, v5p Organizations: Google, Bloomberg, Service Locations: Bangalore, Mexico City, Dublin

☆ I bought an abandoned house and tried to renovate it but failed. I'll never buy another fixer-upper.
▼ + stars: | 2024-05-09 | by ( Karie Fugett | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The kitchen and bathroom were gutted, and the smell of rats' nests was so strong I could hardly stand it. The property was located in a town I'd never heard of with fewer than 1,000 residentsThe abandoned home. I had been sitting on some life insurance money I'd gotten after my Marine husband died of war wound complications. I got lucky with the saleThe silver lining was that housing prices had skyrocketed since I'd purchased the property.

Persons: —, Ivy, I'd, couldn't, Karie, Blackberries, Fugett, we'd, I, we're, We're Organizations: Service, Business Locations: Oregon, Philomath, Eugene, Alabama

☆ Home prices are falling in parts of Florida and Texas as buyers tap out and supply outpaces demand
▼ + stars: | 2024-05-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Home prices are falling in parts of Florida and Texas even as they soar nationally. Sale prices only dropped in 15 of 221 metro areas last quarter, and five were in those states. High prices, steeper mortgage rates, and supply catching up with demand help explain the declines. AdvertisementHome prices are falling in parts of Florida and Texas as buyers tap out and supply catches up with demand. AdvertisementThe takeaway is that a combination of sky-high prices, steeper mortgage rates and other costs like insurance squeezing buyers' budgets, and supply catching up with demand has resulted in prices flatlining or falling in parts of Florida and Texas, bucking the national trend.

Persons: —, Fort Myers, Redfin, Coral Organizations: Service, National Association of Realtors, Fort, Fort Walton, Austin, Rock, NAR, Panama City, Homeowners, Federal Locations: Florida, Texas, Panama City, Crestview, Fort, San Antonio, New Braunfels, Lac , Wisconsin, Illinois, Kankakee, Rockford, Champaign, Urbana, Austin, Panama

☆ Live Updates: Stormy Daniels Will Return to Stand in Trump Trial
▼ + stars: | 2024-05-09 | by ( Matthew Haag | ) www.nytimes.com time to read: +6 min

The woman, Stormy Daniels, answered questions from Manhattan prosecutors for several hours Tuesday before Mr. Trump’s lawyers began cross-examining her, and she will return to the stand Thursday. After that encounter, his bodyguard, Keith Schiller, told Ms. Daniels that Mr. Trump would like to have dinner with her, she said. Image Mr. Trump has denied the charges against him, and having had sex with Ms. Daniels. Mr. Trump was wearing “silk or satin” sleepwear, Ms. Daniels testified; after she cracked a joke — “Does Mr. Hefner know you stole his pajamas?” — he changed his clothes. At the time, Mr. Trump was about to secure the Republican Party’s presidential nomination.

Persons: Stormy Daniels, Donald J, Trump, Daniels, ”, Ms, Keith Schiller, Schiller, Melania, Sarah Yenesel, Michael D, Cohen, Hefner, Ivanka, T.J . Kirkpatrick, ” Mr, Susan Necheles, Necheles, Mr Organizations: Wicked Pictures, Credit, Mr, Prosecutors, Trump Organization, The New York Times, Old, Republican Locations: Manhattan, Tahoe, Nev, American

☆ Stocks making the biggest moves midday: Planet Fitness, AMC, Airbnb, Roblox and more
▼ + stars: | 2024-05-09 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Arm — Shares of British chip designer fell 1% in volatile trading after the company issued revenue guidance that left investors unimpressed. Airbnb said revenue in its second quarter total $2.68 billion to $2.74 billion, while analysts were expecting $2.74 billion, according to LSEG. AppLovin — The mobile technology company soared 19% on the heels of better-than-expected first quarter earnings . Warby lost 2 cents a share, narrower than the consensus forecast of 9 cents per share from analysts surveyed by FactSet. Cheesecake Factory — Shares rallied nearly 9% after the chain's first quarter earnings beat estimates.

Persons: FactSet, Forthe, Klaviyo, Airbnb, AppLovin, AMC's financials, Duolingo, —, Warby Parker, Warby, Kate Spade, Roblox, That's, Raymond James, Ancora, Alan Shaw, Equinix, amortization, Charles Meyers, Samantha Subin, Yun Li, Jesse Pound, Sarah Min, Hakyung Kim, Tanaya Macheel, Michelle Fox, Scott Schnipper Organizations: LSEG, LSEG . Revenue, AMC Entertainment, Revenue, FactSet . Revenue, FactSet, Leadership, JPMorgan, Norfolk Southern, postmarket Locations: The Virginia

☆ Americans say it’s the worst time ever to buy a home
▼ + stars: | 2024-05-09 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

Just 21% say it’s a good time to buy a house, according to a Gallup survey released Thursday. An overwhelming majority of Americans — 76% — say it’s a bad time to buy a house. Young Americans seeking to buy a home have been confronted by a toxic one-two punch of record-high home prices and painful mortgage rates. For context, in April 2019, the final reading before Covid-19, 61% of Americans polled by Gallup said it was a good time to buy a house. Mortgage rates top 7%Americans started to sour on the housing market as mortgage rates spiked and home prices surged after Covid.

Persons: ” Jeffrey Jones, White, ”, Lawrence Yun, ” Yun Organizations: New, New York CNN, Gallup, Young, homebuyers, National Association of Realtors, Federal Reserve, NAR Locations: New York, That’s

☆ A Recap of Stormy Daniels’s Testimony So Far in Trump’s Hush-Money Trial
▼ + stars: | 2024-05-09 | by ( Matthew Haag | ) www.nytimes.com time to read: +1 min

For nearly five hours this week, the woman whose encounter with Donald J. Trump resulted in his criminal trial years later has told her side of the story. The woman, Stormy Daniels, answered questions from Manhattan prosecutors for several hours Tuesday before Mr. Trump’s lawyers began cross-examining her, and she will return to the stand Thursday. Defense lawyers are expected to grill her about inconsistencies in her account of a liaison at golf tournament and her motives in divulging it. Ms. Daniels began her testimony by describing how she and Mr. Trump met, a now-infamous encounter just off a fairway in Lake Tahoe, Nev., during a celebrity tournament in July 2006. One was Mr. Trump, the real estate mogul whose fame had skyrocketed as a result of his hosting the reality television show “The Apprentice.”

Persons: Donald J, Trump, Stormy Daniels, Daniels, ” Organizations: Wicked Pictures Locations: Manhattan, Tahoe, Nev

☆ Blackstone says the real-estate market is bottoming. Here are 7 ways it's getting ahead of the situation.
▼ + stars: | 2024-05-08 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +2 min

This story is available exclusively to Business Insider subscribers. We found the firm has been spending on distressed real estate, such as its purchase of loans from the FDIC after the failure of Signature Bank, as well as investments in buzzy real estate, like data centers. In a January earnings call, Blackstone president Jonathan Gray announced that commercial real estate, which recently suffered its biggest price declines in half a century, could soon hit bottom. "While it will take time, we can see the pillars of a real estate recovery coming into place." Here are the 7 recent real estate and real-estate-adjacent deals that show how Blackstone is trying to get ahead of the CRE bottom in chronological order.

Persons: Jon Gray, Blackstone, Gray, Jonathan Gray Organizations: Business, Signature Bank

☆ Home Sellers' Tough Summer: Get Ready for Lower Prices, Fewer Offers
▼ + stars: | 2024-05-08 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

Rich baby boomers jumped in with all-cash offers, and sellers scored huge windfalls as weary buyers pushed prices to new heights. After all, people have to move for a wide variety of life reasons; mortgage rates be damned. "The further and further we get from the peak of the market," Peterson told me, "the harder it is to deny what's happened." Mortgage rates haven't fallen — in fact, they've gone up about 0.6 percentage points since the start of the year. "It can always be tricky telling somebody that they were just lucky because it makes you sound envious," Peterson told me.

Persons: Rich, Sellers, Eric Peterson, Peterson, Austin, Freddie, they've, Selma Hepp, Freddie Mac, Mike Simonsen, Redfin, towners, Libby Levinson, Katz, Price, Levinson, John Burns, they'll, Realtor.com, you'd Organizations: Freddie Mac, Reserve, Federal Housing Finance Agency, Altos Research, Sun, John, John Burns Research, Consulting Locations: Austin, Boise , Idaho, Denver

☆ Jim Cramer gets a read on REITs with Federal Realty Investment Trust CEO Don Wood
▼ + stars: | 2024-05-08 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Jim Cramer gets a read on REITs with Federal Realty Investment Trust CEO Don WoodFederal Realty Investment Trust CEO Don Wood joins 'Mad Money' host Jim Cramer to talk the state of real estate investing, its portfolio, tenant quality and more.

Persons: Jim Cramer, Don, Don Wood Organizations: Federal Realty Investment, Don Wood Federal Realty Investment

☆ Writing your will is 'not just a question about finances,' expert says. Here's why it's a crucial task
▼ + stars: | 2024-05-08 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

If the bank were to throw a $500 incentive on top of that aid, 75.6% said they would do it. However, survey respondents saw that workload as a detriment. About 40%, of U.S. adults feel they do not have enough assets to prepare an estate plan or a will, a 21% jump compared with 2022, according to Caring.com's 2024 Wills and Estate Planning Study. "Wills and estate planning are essential for everyone, not just the wealthy," Patrick Hicks, general counsel of Trust & Will, a digital estate planning and probate platform, said in the Caring.com report. Not having the proper estate planning documents in place can put your loved ones in a difficult situation in a catastrophic event, Cornell explained.

Persons: Wettstein, Wills, Patrick Hicks, Cornell Organizations: Center for Retirement Research, Will Locations: U.S

☆ The setup on some real estate earnings
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe setup on some real estate earningsThe Investment Committee gives you the setup on some real estate earnings coming up this week.

Search resuls for: "Estate"

25 mentions found