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☆ Evergrande liquidation: Here’s what may happen next
▼ + stars: | 2024-01-31 | by ( Laura He | ) edition.cnn.com time to read: +9 min

But there is still little clarity over how the liquidation of Evergrande will unfold. That’s because the legal systems of Hong Kong and China remain distinct, despite Beijing’s growing control over the former British colony in recent years. No Chinese company as huge as Evergrande — which was once China’s second largest developer— has been wound up by a Hong Kong court. Hui Ka Yan, chairman of property developer China Evergrande. Since then, Evergrande has been building and selling apartments in mainland China, even though it has been unable to repay its debts.

Persons: Alvarez, Marsal, —, ”, John Bringardner, Hong, Hui Ka Yan, Xu Jiayin, Hui, Xiao En, Bobby Yip, Xiao, Evergrande, Florence Lo, homebuyers, Will, Andy Wong, Diana Choyleva, Xiao Yuanqi, ” Bringardner, ” Choyleva, Choyleva, “ Evergrande Organizations: Hong Kong CNN, Shimao, Kaisa Holdings, Group, “, Real, Century Business Herald, China Index Academy, Enodo, Communist Party, China’s, Financial Regulatory Administration, Getty, People’s Bank of China, Finance Ministry, Evergrande, Marsal Locations: Hong Kong, United States, China, British, New York, China . Hong Kong, Shenzhen —, Asia, Florence, Beijing, Real, Hainan

☆ Malaysia Installs Sultan Ibrahim of Johor State as New King
▼ + stars: | 2024-01-30 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

KUALA LUMPUR (Reuters) - Malaysia's Sultan Ibrahim from the southern state of Johor was sworn in as the country's new king on Wednesday, taking the oath of office in a ceremony at the national palace in Kuala Lumpur. The monarchy plays a mostly ceremonial role in Malaysia, but its influence has grown in recent years, prompting the king to wield rarely-used discretionary powers to quell political instability. Sultan Ibrahim, 65, succeeds Al-Sultan Abdullah Sultan Ahmad Shah, who is returning to lead his home state of Pahang after completing his five-year tenure as king. While the monarchy is largely seen as above politics, Sultan Ibrahim has been noted for his forthrightness and outsized personality, often weighing in on the country's political issues. Known for his large collection of luxury cars and motorbikes, Sultan Ibrahim has wide-ranging business interests from real estate to mining, including a stake in Forest City - a $100-billion China-backed land reclamation and development project off Johor.

Persons: Sultan Ibrahim, Yang, Al, Sultan Abdullah Sultan Ahmad Shah, Rozanna Latiff, Danial Azhar, Martin Petty Organizations: Reuters Locations: KUALA LUMPUR, Johor, Kuala Lumpur, Malaysia, Pahang, Forest City, China

☆ The next tallest building in America may be nowhere near New York
▼ + stars: | 2024-01-27 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +5 min

New York CNN —A group of developers wants to construct what would be America’s tallest building in an unlikely place: Oklahoma City. The skyscraper would be more than double the height of Oklahoma City’s tallest building now and the fifth-tallest building in the world. Between 2010 and 2020, Oklahoma City was one of 14 US cities that added more than 100,000 people. A city’s population is also a strong indicator of how tall its tallest building will be. “It’s not fathomable to me that Oklahoma City is ready for a building like that.”CNN’s Andy Rose contributed to this article.

Persons: Chicago’s Willis, ” Scot Matteson, ‘, David Holt, Stefan Al, “, ” “ I’m, ”, ” Al, Matteson, Jason Barr, Barr, ” Steve Agee, “ It’s, ” CNN’s Andy Rose Organizations: New, New York CNN, Oklahoma City, Oklahoma, Oklahoma City’s, Matteson, Trade, Hyatt, Bricktown, NBA’s Oklahoma City Thunder, CNN, “, Rutgers University, Newark, Devon Energy Center, Oklahoma City University Locations: New York, Oklahoma, United States, Chicago, Oklahoma City, “ Cities, ”

How LGFCU accounts compare Local Government Federal Credit Union Share SavingsLocal Government Federal Credit Union Checking AccountLocal Government Federal Credit Union Money Market AccountLocal Government Federal Credit Union Share Term Certificates Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. To become a member of Local Government Federal Credit Union, you must open a Local Government Federal Credit Union Share Savings account. How to Join Local Government Federal Credit UnionTo become a member of Local Government Federal Credit Union, you must work or volunteer at North Carolina local government. How Local Government FCU ComparesLocal Government Federal Credit Union vs. Truliant Federal Credit UnionTruliant Federal Credit Union is a CDFI that serves local communities in North Carolina, South Carolina, and Virginia. Local Government Federal Credit Union offers higher interest rates, but Truliant Federal Credit Union doesn't charge monthly services.

Persons: it's, Banks, Federal Credit Union hasn't, FCU, it'll, It's Organizations: Local, Federal Credit Union, Savings, Government Federal Credit, Federal Credit, Local Government, Credit, Government, Reviews, Government Federal Credit Union, Local Government Federal Credit Union, Federal Credit Union Share, Local Government Federal Credit, Local Government FCU, State Employees Credit Union, Rocky Mount, Google, Apple, Join Local Government Federal Credit Union, North, ABC, State, Park, Community Development, US Department of Treasury's, Financial, Fund, NC State, Public, Leadership Initiative, UNC School of Government, UNC School of Government's Development Finance Initiative, BBB, Truliant Federal Credit Union, American Consumer Council, . Mechanics & Farmers Bank Mechanic & Farmers Bank, Mechanics & Farmers Bank, Mechanic, Farmers Bank, Mechanics & Farmers, Federal Credit Union Share Savings, &, Mechanics, Farmers, Chevron Locations: Chevron, North Carolina, North, SECU's, Albemarle, Arden, Asheville, Benson, Boone , Burlington, Cary, Hill, Charlotte, Clayton, Concord, Durham, Elizabeth City, Fayetteville, Garner, Gastonia, Goldsboro, Greensboro, Greenville, Hickory, Point, Hillsborough, Holly Springs , Jacksonville, Kernersville, Kinston, Lumberton, Morganton , New Bern, Raleigh, Roanoke Rapids, Rocky, Sanitation, Truliant, South Carolina, Virginia, Georgia, Tennessee

☆ Meet the female force who halted a major development project to preserve her working-class neighborhood and make it a leader in clean energy
▼ + stars: | 2024-01-13 | by ( Kelly Burch | ) www.businessinsider.com time to read: +6 min

To that end, Yeampierre helped prevent developer Jamestown Properties, which manages billions of dollars worth of real estate globally, from rezoning her Brooklyn neighborhood, Sunset Park. AdvertisementA new vision for Sunset ParkSituated along the scenic New York Bay in southwestern Brooklyn, Sunset Park is a diverse neighborhood that many working class individuals call home. Climate change has led to consequences like more extreme drought, severe storms, and destructive flooding that can disrupt supply chains for local communities. To help protect Sunset Park from complete chaos in the face of an extreme weather event, UPROSE is focused on growing more food locally. Because when it comes to finding solutions for climate change, "We just don't have any time anymore."

Persons: —, Elizabeth Yeampierre, Yeampierre, Toshi Sasaki, UPROSE, Chris Halfnight, Halfnight, we've Organizations: Service, Business, Big Apple, Latina, Environmental Justice, Council, Climate Justice Youth Summit, Jamestown Properties, Sunset, Urban Green Council Locations: New York, New York City, Jamestown, Brooklyn, Sunset, Boston, Houston

☆ Virginia Gov. Youngkin on new $2B complex: Like no other sports & entertainment district in America
▼ + stars: | 2023-12-13 | 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 EmailVirginia Gov. Youngkin on new $2B complex: Like no other sports & entertainment district in AmericaVirginia Governor Glenn Youngkin (R-Va.) joins 'Squawk Box' to discuss the state's new $2 billion entertainment complex in the city of Alexandria, what will be included in the development project, what it means for the NHL’s Washington Capitals and NBA’s Washington Wizards sports teams, and more.

Persons: Glenn Youngkin Organizations: Virginia, America Virginia, NHL’s Washington Capitals, NBA’s Washington Wizards Locations: America, Alexandria

COPENHAGEN, Denmark (AP) — Norway’s minority center-left government and two large opposition parties made a deal Tuesday to open the Arctic Ocean to seabed mineral exploration despite warnings by environmental groups that it would threaten the biodiversity of the vulnerable ecosystems in the area. Norway said in June it wanted to open parts of the Norwegian continental shelf for commercial deep sea mining in line with the country’s strategy to seek new economic opportunities and reduce its reliance on oil and gas. “This is a disaster for the sea,” said Frode Pleym, head of the local chapter of Greenpeace. According to the Norwegian Petroleum Directorate, there are sulphides and manganese crusts containing metals and minerals that are crucial for making batteries, wind turbines, PCs and mobile phones. The planned area is located southwest of the Arctic island of Svalbard.

Persons: —, ”, Frode Pleym, ” Martin Sveinssønn Melvær, –, Center Party –, NTB Organizations: Greenpeace, “, Norwegian Bellona, Labor, Center Party, Progress Party, Norwegian, Norwegian Petroleum Directorate, Ministry of Petroleum, Energy Locations: COPENHAGEN, Denmark, Norway, Norwegian, “ Norway, Hoeyre, Svalbard

According to data firm Preqin, only one emerging markets greenfield renewables fund has raised more than Copenhagen wants to amass, although the 2014 $3.26 billion Guangzhou City Development Industry Fund is focused on China. While a deal to phase out fossil fuels has been hard to agree, more than 60 countries have backed a global agreement to triple renewable energy this decade. The growth in demand for electricity is enormous," he told Reuters, adding that renewable energy was often the cheapest energy source. Founded in 2012, Denmark's Copenhagen manages 26 billion euros ($28.3 billion) of assets and runs 12 funds. Recent development projects include an offshore wind farm in Bangladesh and the first 100% foreign-owned offshore wind energy schemes in the Philippines.

Persons: Niels Holst, Holst, Simon Jessop, Tommy Reggiori Wilkes, Jan Harvey Organizations: Copenhagen Infrastructure Partners, Reuters, Guangzhou City Development Industry Fund, Denmark's, Thomson Locations: DUBAI, Copenhagen, China, Dubai, Britain, Denmark's Copenhagen, Bangladesh, Philippines, Asia, Pacific, America

☆ US DFC considers $500 mln loan to Vietnamese EV maker VinFast
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

A Vinfast electric vehicle store is shown at one of the company's retail locations in San Diego, California, U.S.,October 20, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsHANOI, Dec 4 (Reuters) - The United States International Development Finance Corporation (DFC) has signed a letter of interest with electric vehicles maker VinFast to consider the Vietnamese company's application for a $500 million loan for expansion, VinFast said on Monday. The loan, which will be used to support VinFast's establishment of lithium-ion battery manufacturing facilities in Vietnam, is subject to a comprehensive review and approval process by DFC, the carmaker said in a statement. DFC said on X, formerly Twitter, that it had signed the letter of interest to support VinFast's lithium-ion battery facilities in Vietnam, but did not provide details. The project will be the first in a series of initiatives actively discussed by the two parties, VinFast said.

Persons: Mike Blake, VinFast, Phuong Nguyen, Kanupriya Kapoor Organizations: REUTERS, Rights, United States International Development Finance Corporation, Vietnam's, Nasdaq, Thomson Locations: San Diego , California, U.S, Rights HANOI, Vietnam, California, Southeast Asia

The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland January 30, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsZURICH, Dec 4 (Reuters) - Roche (ROG.S) agreed to take over obesity drug developer Carmot Therapeutics (CRMO.O) for $2.7 billion, joining a list global contestants seeking to challenge the dominant makers of weight-loss drugs Novo Nordisk (NOVOb.CO) and Eli Lilly. After encouraging Phase I trial results, the drug is ready to be tested on humans in the second of three trial stages, Roche added. Among recent deals to acquire obesity drug development projects, AstraZeneca (AZN.L) last month agreed to pay up to $2 billion for the rights to an experimental pill from China's Eccogene. Roche will obtain access to Carmot's current R&D portfolio including all clinical and preclinical assets.

Persons: drugmaker Roche, Arnd, ROG.S, Eli Lilly, Swiss drugmaker, Roche, . New Roche, Thomas Schinecker, Ludwig Burger, Noel Illien, Rachel More, Louise Heavens Organizations: REUTERS, Rights, Carmot Therapeutics, Novo Nordisk, AstraZeneca, Pfizer, Thomson Locations: Basel, Switzerland, Swiss, ., Alzheimer's

☆ India agrees to withdraw soldiers from Maldives - President Muizzu
▼ + stars: | 2023-12-03 | by ( ) www.reuters.com time to read: +2 min

Mohamed Muizzu, the newly elected president of Maldives speaks during his inauguration ceremony in Male, Maldives November 17, 2023. REUTERS/Nishan Ali/File Photo Acquire Licensing RightsNEW DELHI, Dec 3 (Reuters) - India's government has agreed to withdraw its soldiers from the Maldives, the Indian Ocean archipelago's President Mohamed Muizzu said on Sunday. "In the discussions we had, the Indian government has agreed to remove Indian soldiers," Muizzu told reporters. India provides certain military equipment to the Maldives, assists in disaster response and has been helping build a naval dockyard there. Most of the Indian military personnel were in the Maldives to operate and manage two helicopters and a Dornier aircraft given to the Maldives by India.

Persons: Mohamed Muizzu, Nishan Ali, Muizzu, India's, Kiren, Mohamed Junayd, Krishn Kaushik, Aditya Kalra, Bernadette Baum, Sharon Singleton Organizations: REUTERS, DELHI, Indian, Dornier, Thomson Locations: Maldives, Male, India, New Delhi, China

☆ Satellite photos show how the US Air Force is reclaiming a WWII-era airfield from the jungle to prepare to dodge Chinese missiles
▼ + stars: | 2023-11-30 | by ( Christopher Woody | ) www.businessinsider.com time to read: +11 min

The US Air Force is developing more dispersed bases to counter the threat posed by China's missiles. US engineers quickly began building what became the biggest and busiest air base of the war. "Air Force engineers are scheduled to remove the vegetation that have penetrated through the cracks and joints of the old pavement surfaces," Peden added. Money is allotted for work at Tindal air base — including $93 million to build a parking apron for six B-52 bombers — and Darwin air base, both of which are in Australia's Northern Territory. The Air Force is working with the rest of the military to address those challenges, Thomas Lawhead, acting deputy chief of staff for Air Force Futures, said at an event this month.

Persons: —, Gen, Kenneth Wilsbach, Wilsbach, Lance Cpl, J, Gage, Capt, Gerald Peden, Peden, Jason Robertson, Cesar Basa, Michael S, Murphy, Frank Kendall, Kendall, Sgt, JT May III, Thomas Lawhead, Joseph P, Lawhead Organizations: US Air Force, China's, Service, Airport, US Pacific Air Forces, an Air and Space Forces Association, Field, International Airport, Commonwealth of, Marines, Air Force, Google, Air, Tinian's, US Marine Corps, KC, Pacific Air Forces, Tech, Northwest Field, Tindal, Pentagon, Air Force Futures, Army Locations: Tinian, SkyFi, Japan, Hiroshima, Nagasaki, West, Commonwealth, Northern Mariana Islands, Pacific, —, Guam, Northern Territory, Philippines, Manila, Philippine, China, North Korea, Northern Mariana

☆ China's Powerlong Real Estate warns of debt default risk
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

Nov 29 (Reuters) - Powerlong Real Estate (1238.HK) said on Wednesday its cash on hand and bank deposits would not be enough to cover existing and future debt, making it the latest Chinese property developer that could default. In an exchange filing, Powerlong also said it has not made an interest payment of $15.9 million under 5.95% senior notes due April 2025 issued by the company. China's property sector has been squeezed by a regulatory crackdown since 2020 as authorities curbed excessive debt, which tightened liquidity and raised default risks for developers. Powerlong Real Estate's interest became due and payable on Oct. 30 and the company had a grace period of 30 days to make the payment. Separately, Powerlong said it was working towards ensuring timely delivery of its property development projects to secure cash resources for sustainable development.

Persons: Powerlong, Echha Jain, Devika Organizations: HK, Singapore Exchange, Thomson Locations: Bengaluru

☆ The UAE planned to use the global climate summit it's hosting as a chance to strike new oil and gas deals, BBC report says
▼ + stars: | 2023-11-27 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

The UAE is hosting the COP28 climate change summit. The BBC reported it planned to make secret oil and gas deals. Among them, UAE COP28 planning officials intended to discuss liquefied natural gas development projects by UAE state energy firm Adnoc with China, the BBC reported. The UAE in a statement to the BBC did not deny that it planned on holding oil and gas deal talks, and said "private meetings are private." Leaders from nearly 200 countries are gathering in the UAE on Thursday for the COP28 summit.

Persons: Sultan al, Jaber, Dr Jaber, Adnoc, it's Organizations: BBC, Service, United Arab Emirates, Center, Climate, UAE, UN Locations: UAE, Gulf, China, Colombia, Masdar

☆ Volkswagen to launch China-specific entry level electric platform
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +4 min

Volkswagen electric ID car is seen during a construction completion event of SAIC Volkswagen MEB electric vehicle plant in Shanghai, China November 8, 2019. Chinese new car buyers are younger, tech savvy and like a immersive digital experience from their cars, he added. China was a very “price-sensitive” market and Volkswagen needed to optimise costs, Brandstaetter said. Volkswagen in July struck a deal with Chinese EV maker Xpeng Inc (9868.HK) to boost its EV line up. It has two new models under development as part of that partnership that will target mid-level consumers and be produced on an older generation Xpeng platform.

Persons: Aly, Ralf Brandstaetter, Brandstaetter, “, Luehrmann, Volkswagen's, Zhang Yan, Brenda Goh, Victoria Waldersee, Kim Coghill Organizations: Volkswagen, SAIC Volkswagen, REUTERS, Rights, Volkswagen Group China Technology Company, SAIC, FAW, JAC Motors, Xpeng, HK, Thomson Locations: Shanghai, China, Rights HEFEI, BERLIN, Hefei, BYD, Germany

☆ Want to Understand Your Neighbors? Go to a Municipal Meeting.
▼ + stars: | 2023-11-22 | by ( Jessica Stolzberg | ) www.nytimes.com time to read: +2 min

I didn’t know where to stand, where I would find the sign-up sheet or quite where to look when I spoke into the small microphone. But it doesn’t take long to fall in line with the rhythms of a municipal meeting. What first took me here was a collective effort to convince the Town Council to prohibit the use of gas-powered leaf blowers. Once, when a contentious meeting went late, someone, perhaps anticipating the rancor, passed out homemade cookies. In ours, the curved dais is the grounding structure of a stage for different players with different roles in making this town work (and not work).

Persons: It’s, —, I’ve Organizations: Town, Planning, Historic Preservation Commission, Education, YouTube

☆ Bayer stops blood thinner drug trial due to lack of effect, in major setback
▼ + stars: | 2023-11-20 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

Logo and flags of Bayer AG are pictured outside a plant of the German pharmaceutical and chemical maker in Wuppertal, Germany August 9, 2019. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsNov 19 (Reuters) - Germany's Bayer (BAYGn.DE) has aborted a large late-stage trial testing a new anti-clotting drug due to lack of efficacy, dealing a fresh blow to the embattled drugmaker and throwing its most promising medium-term development project in doubt. The trial halt, which followed recommendation of independent trial supervisors, marks another setback for a company burdened by a weak herbicide business, high debt and by U.S. lawsuits over the alleged carcinogenic effect of its commonly used Roundup weedkiller. Bayer said it will further analyse the data of the discontinued trial, known as OCEANIC-AF, which was initiated in August 2022. It said the independent trial supervisors recommended the continuation of a separate phase III trial, OCEANIC-STROKE, testing asundexian to prevent repeated strokes in participants who have already suffered one.

Persons: Wolfgang Rattay, Germany's Bayer, Bill Anderson, Bayer, Stefan Oelrich, Johnson, Ludwig Burger, Jose Joseph, Miranda Murray, Christopher Cushing Organizations: Bayer AG, REUTERS, Bristol, Myers Squibb, Johnson, Thomson Locations: Wuppertal, Germany, United States, asundexian, U.S, Frankfurt, Bengaluru

☆ Compelled to testify against her father and brothers, Ivanka Trump's voice is clear, quiet, and cautious
▼ + stars: | 2023-11-08 | by ( Laura Italiano | ) www.businessinsider.com time to read: +5 min

Ivanka Trump took the stand Wednesday in her father and brothers' civil fraud trial in New York. "Not that I am aware of, no," Ivanka Trump answered quietly, when asked if she had any role in preparing the statements. At another point, Ivanka Trump was asked to identify her father's signature on several documents from 2016, in which he guaranteed the truth of his net-worth statements to Deutsche Bank. Ivanka Trump at her father and brothers' civil fraud trial. AdvertisementAdvertisementShe testified in a clear, calm, quiet voice – so quiet that the judge early on asked her to move her microphone closer.

Persons: Ivanka Trump, —, Letitia James, Donald Trump's, James, Louis Solomon, Trump, Solomon, Michael M, Santiago, Arthur Engoron Organizations: Deutsche Bank, Service, New York, Trump Organization, Trump, Washington , D.C Locations: New York, Miami, Washington ,

Making the witness stand at his New York civil trial his podium, the former president laid into the presiding judge and the state attorney general who sued him. “He ruled against me without knowing anything about me,” Trump testified. Trump testified that he typically kept $300 million to $400 million in the bank, saying: “I’ve had a lot of cash for a long time." “They were not really documents that the banks paid much attention to,” Trump testified. “It was a sad, very sad thing," Trump testified.

Persons: — Donald Trump, Letitia James ’, ” —, Arthur Engoron, ” Trump, “, Engoron, “ I’m, ” Engoron, Trump, should've, “ I’ve, Allen Weisselberg, You’ve, Weisselberg, he’d, General James, sneered, James “, Kevin Wallace, James ’, ” James, James, ” Organizations: Republican, Trump, Trump Organization, “, New York Locations: York, China, Russia, United States, Manhattan

☆ Google, Lendlease axe plans for $15 billion development in Bay Area
▼ + stars: | 2023-11-04 | by ( Manav Tanneeru | Alicia Wallace | ) edition.cnn.com time to read: +4 min

CNN —Alphabet’s Google has scrapped a development deal to build $15 billion worth of homes, offices and retail space in California’s Silicon Valley. The announcement comes amid a period of deep cost-cutting and layoffs for Google and during a time when commercial real estate is faltering. Billion-dollar investmentsIn June 2019, Google made a $1 billion pledge to help develop more affordable housing in the increasingly unaffordable region. A month later, Google partnered with Lendlease to redevelop its landholdings for a 10- to 15-year project valued at $15 billion. Lending to commercial real estate developers and managers largely comes from small and mid-sized banks, where the pressure on liquidity has been most severe.

Persons: Lendlease, “, ” Lendlease, Google’s, we’ve, ”, Sundar Pichai, “ We’ve, ” Scott Foster, Goldman Sachs Organizations: CNN, Google, San Francisco Bay Project, Alexa, Wall Street Journal, Lendlease Locations: Silicon, San Francisco Bay, San Jose, Sunnyvale, Bay, Mountain View

☆ Google and property developer Lendlease ended a deal on $15 billion of Bay Area real estate projects, as Big Tech continues to review the role of offices
▼ + stars: | 2023-11-03 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Google ended an agreement with Australian construction firm Lendlease to build four campuses in the Bay Area. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. It additionally worked with Lendlease to pave the way for 12,900 units to be built in San José and Mountain View. Lendlease laid off 67 employees earlier this year including several community engagement managers, senior development managers, a head of business operations, and other executives, per CNBC. This was after Google halted construction of its Downtown West campus in San José.

Persons: Lendlease, —, we've, Google's, Meta Organizations: Google, Service, CNBC, Big Tech, Facebook Locations: Bay, San Francisco, San José, Moffet, Sunnyvale, Bayshore, Mountain View, Francisco Bay, Downtown West, London

☆ Lendlease, Google end development deals for $15 bln San Francisco Bay Area projects
▼ + stars: | 2023-11-03 | by ( Himanshi Akhand | ) www.reuters.com time to read: +2 min

FILE PHOTO: A sign is pictured outside a Google office near the company's headquarters in Mountain View, California, U.S., May 8, 2019. Under the project, Lendlease was to develop up to 15 million square feet of residential, retail and hospitality space and Google would develop office space. As of June-end, 12,900 of the planned housing units were approved for development in San Jose and Mountain View, according to Google. Lendlease said it will remove the San Francisco Bay project, which was expected to commence construction in fiscal 2026, from its development pipeline. Lendlease retained its forecast for fiscal 2024, with core operating return on equity at the lower end of its 8%-10% range.

Persons: Paresh Dave, Lendlease, Himanshi, Ayushman Ojha, Sonia Cheema, Rashmi, Sohini Organizations: REUTERS, Lendlease, Google, San Francisco Bay Area, Francisco's, Alexa Arena, San, UBS, Thomson Locations: Mountain View , California, U.S, San Francisco Bay, Sunnyvale, San Jose, Mountain, Westfield, Bay, Hayes, San Francisco, Americas, Bengaluru

Google confirmed on Thursday that the company ended its agreement with the development partner that was working on four key campus sites. Alphabet-owned Google is embarking on its most expansive cost cuts in its almost two decades on the public market. CNBC reported that, as part of Google's downsizing that went into effect early this year, the company gutted its development team for the San Jose campus. As recently as September, Google executives, including CFO Ruth Porat, appeared at a San Jose event that aimed to reaffirm the company's commitment to building in the city. San Jose Mayor Matt Mahan said in a statement to CNBC that the latest news "doesn't change Google's commitment to San Jose or their timeline."

Persons: Lendlease, we've, Ruth Porat, Matt Mahan, Mahan Organizations: Google, Lendlease, Downtown, San, Alexa, CNBC, San Jose Locations: Jose, Sunnyvale, Bayshore, Mountain View, San Francisco Bay, Bay, San Jose, San

☆ Biden kicks off rural America tour in Minnesota
▼ + stars: | 2023-11-01 | by ( Andrea Shalal | ) www.reuters.com time to read: +5 min

[1/2] U.S. President Joe Biden holds an event about American retirement economics in the State Dining Room at the White House in Washington, U.S., October 31, 2023. Thirteen top administration officials will visit rural places in 15 states, including election battlegrounds like Michigan, Pennsylvania and Arizona, to highlight investments in rural communities, where one in five Americans live. A campaign official told Reuters that Biden would also participate in a fundraiser in Minneapolis after the farm visit. Biden beat former president Donald Trump in Minnesota by 52.4% to 45.3%, winning the state's 10 electoral college votes out of a total of 538 total. "President Biden believes that investing in America means investing in all of America and leaving no one behind," Neera Tanden, who heads the White House Domestic Policy Council, told reporters.

Persons: Joe Biden, Leah Millis, Biden, Dean Phillips, Donald Trump, Karine Jean, Pierre, Phillips, Jaylani Hussein, Tanden, Andrea Shalal, Jeff Mason, Andrew Hay, Stephen Coates Organizations: White, REUTERS, Rights, Reuters, Democratic, of American Islamic Relations, Muslim American, St Paul International Airport, Domestic Policy Council, Black, Republicans, Thomson Locations: Washington , U.S, Minnesota, Michigan, Pennsylvania, Arizona, Minneapolis, Gaza, Israel, America, North Carolina, Georgia, Wisconsin, Raleigh , North Carolina, Northfield, Puerto Rico

ATHENS, Greece (AP) — Greek army specialists Thursday destroyed an unexploded World War II bomb discovered during work on a massive urban development project at a coastal area south of Athens. The urban development project will include a park, shopping malls, hotels, a casino and multiple leisure facilities near the seaside Glyfada area, south of the capital. The site also hosted several sporting venues during the Athens Olympics in 2004 and briefly housed a camp for asylum seekers during the refugee crisis of 2015-16. The airfield has also been used for decades to support a United States military base that closed in the early 1990s. During World War II and the Nazi-led occupation of Greece, the airfield was bombed by the allies.

Persons: ”, Giorgos Papanikolaou Organizations: Authorities, Work, Athens ’, Olympics, United, Nazi Locations: ATHENS, Greece, Athens, United States

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