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☆ Someone has found what could be the first Magic: The Gathering card worth 7 figures
▼ + stars: | 2023-07-05 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

An incredibly rare Magic: The Gathering card from a new expansion was found on Friday. Instead, it's all to do with Hasbro's trading card game, Magic: The Gathering, which released an expansion this month that crosses over with JRR Tolkien's beloved fantasy series. —Magic: The Gathering (@wizards_magic) June 30, 2023While the search is over, the card's ownership may not be settled. The breakneck pace and high costs of new releases has also been an issue for local game shops that sell Magic: The Gathering cards. In April though, the bank upgraded the stock to "neutral" after earnings showed revenue from the card game surged in the first quarter.

Persons: —, JRR, Francisco Rubio, Adam Martin, Dave, Eric LaGaccia Organizations: Service, Wall Street, Gremio de Dragones, Hasbro, City Comics, Bank of America Locations: Valencia, Spain, Buffalo , New York, Brooklyn

☆ Australian home prices climb for fourth month in June
▼ + stars: | 2023-07-02 | by ( ) www.reuters.com time to read: +2 min

REUTERS/David Gray/File PhotoSYDNEY, July 3 (Reuters) - Australian home prices rose for a fourth consecutive month in June as a sustained squeeze on housing supply helped lift values nationwide, data showed on Monday. Property consultant CoreLogic figures showed national home prices were up 1.1% in June from the previous month, after bottoming in February and starting a sustained rise. Every state and territory capital except Tasmania's Hobart recorded higher prices for dwellings, according to CoreLogic. "A slowdown in the pace of capital gains could be a reflection of a change in sentiment as interest rate expectations revise higher," Lawless said. "Higher interest rates and lower sentiment will likely weigh on the number of active home buyers, helping to rebalance the disconnect between demand and supply."

Persons: David Gray, Tasmania's Hobart, CoreLogic's Tim Lawless, Lawless, Sam McKeith, William Mallard Organizations: REUTERS, ., Reserve Bank of Australia, Thomson Locations: Sydney, Clovelly, Australia, Tasmania's, CoreLogic, New South Wales, Brisbane, Queensland

☆ Titanic submersible: A robot is combing the sea floor for debris from the implosion as a multinational investigation begins
▼ + stars: | 2023-06-26 | by ( Nouran Salahieh Samantha Beech | Nouran Salahieh | Samantha Beech | ) edition.cnn.com time to read: +8 min

The US Coast Guard has convened a Marine Board of Investigation to probe the implosion – the “highest level of investigation the Coast Guard conducts,” US Coast Guard chief investigator Capt. Military experts found debris from the ill-fated submersible about 1,600 feet from the bow of the Titanic on Thursday, the US Coast Guard previously said. “This case has been extremely complex, involving a coordinated international, interagency and private sector response in an unforgiving and difficult to access region of the ocean,” US Coast Guard Rear Adm. John Mauger, the First Coast Guard District commander, said Sunday. The Coast Guard announced the vessel suffered a “catastrophic implosion,” killing everyone on board. Pelagic's remotely operated vehicle Odysseus 6 is lifted out of the ocean after searching for debris from the Titan submersible on June 22, 2023.

Persons: Jason Neubauer, ” Neubauer, “, ” Kathy Fox, Kent Osmond, John Mauger, Hamish Harding, Paul, Henri Nargeolet, Shahzada Dawood, Suleman, Odysseus, Neubauer, Paul Hankins, Jeff Mahoney, Mahoney, Rush, ” Rachel Lance, ”, Karl Stanley, ” Stanley, OceanGate, Guillermo Sohnlein, ” Sohnlein Organizations: CNN, US Coast Guard, Marine Board, Investigation, Coast Guard, Authorities, Prince, Transportation, Board of Canada, Royal Canadian Mounted Police, RCMP, Polar Prince, US, Guard, First Coast Guard District, OceanGate Expeditions, Stockton Rush, Titan, Research, Research Services, Salvage Operations, Ocean Engineering, Deep Energy, US Navy, Navy, Duke University, Rush Locations: Canada, St, John’s, British, French, Bahamas

☆ 51 US cities expected to see the highest home price increases and 5 at risk of falling in the next 12 months — plus where mortgage rates could be by year-end — according to a housing economist
▼ + stars: | 2023-06-11 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

Areas that saw price declines during the pandemic are expected to make a comeback. Metropolitan areas including Anaheim, Seattle, and Sacramento top the list. In April, prices for single-family homes rose by 2% year-over-year and 1.2% from the previous month, according to CoreLogic's Home Price Index. Below is a list of 51 metropolitan areas expected to see the most home prices increase in the next 12 months, beginning from the highest to the lowest. The CoreLogic HPIFinally, while mortgage rates can be difficult to predict, Hepp believes we have likely peaked for the year.

Persons: Selma, it's, Selma Hepp, Hepp, Louis Organizations: CoreLogic, Irvine CA Metropolitan, Everett WA Metropolitan Division, Arcade, Statistical, Oakland, Berkeley CA Metropolitan, Metropolitan Statistical, Riverside, Jacksonville FL, Vegas, Paradise, Clearwater FL, Newark, Sanford FL, Angeles, Glendale CA Metropolitan, Palm Beach, Boca Raton, Delray Beach FL, Cambridge, Suffolk County NY Metropolitan, Towson, Metropolitan, Fort Lauderdale, Boston, Scottsdale, Scottsdale AZ Metropolitan Statistical, Miami, Kendall FL Metropolitan, Alexandria DC, Bloomington, Franklin TN Metropolitan, Virginia, Newport News, Livonia MI, Gastonia NC, SC Metropolitan, West Allis WI Metropolitan, Philadelphia PA Metropolitan, Kansas City, KS Metropolitan, Providence, Richmond VA Metropolitan, Cincinnati, Pittsburgh PA, Oklahoma City, Cleveland, Elyria, NJ, Columbus OH, Houston, Indianapolis, Arlington TX Metropolitan, Dallas, Irving TX Metropolitan Locations: Selma Hepp, Anaheim, Seattle, Sacramento, West Coast, Metropolitan, Santa Ana, Irvine, Bellevue, Roseville, Hayward, Berkeley, Portland, Vancouver, Hillsboro, San Bernardino, Ontario, Diego, Carlsbad CA, Denver, Aurora, Lakewood, Henderson, Tampa, St, Petersburg, Clearwater, Newark NJ, Orlando, Kissimmee, Sanford, Long, Glendale CA, Palm, Delray Beach, Newton, Framingham, Nassau County, Suffolk, Baltimore, Columbia, Pompano Beach, Deerfield Beach FL, Mesa, Scottsdale AZ, Miami, Kendall, Montgomery County, Bucks County, Chester County, Washington, Arlington, Alexandria, Sandy Springs, Roswell, Minneapolis, Paul, WI, Murfreesboro, Virginia Beach, Norfolk, Detroit, Dearborn, Livonia, Charlotte, Concord, Gastonia, Milwaukee, Waukesha, Warwick, Chicago, Naperville, Arlington Heights IL, Troy, Farmington Hills MI, Antonio, New Braunfels TX, York, Jersey, White Plains, Carmel, Worth, Plano

☆ 51 US cities expected to see the highest home-price increases and 5 at risk of falling in the next 12 months — plus where mortgage rates could be by year-end — according to a housing economist
▼ + stars: | 2023-06-11 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

The economist Selma Hepp says home prices in some areas are rising because of limited inventory. The US housing market started off on a solid footing this year as home prices rose. In April, prices for single-family homes rose by 2% year-over-year and 1.2% from the previous month, according to CoreLogic's Home Price Index. Below is a list of 51 metropolitan areas expected to see the most home-price increases in the next 12 months, from the highest to the lowest. The CoreLogic HPIFinally, while mortgage rates can be difficult to predict, Hepp said that we had likely peaked for the year.

Persons: Selma Hepp, it's, Hepp, CoreLogic's, Louis, CoreLogic Organizations: Irvine CA Metropolitan, Everett WA Metropolitan Division, Arcade, Statistical, Oakland, Berkeley CA Metropolitan, Metropolitan Statistical, Riverside, Jacksonville FL, Vegas, Paradise, Clearwater FL, Newark, Sanford FL, Angeles, Glendale CA Metropolitan, Palm Beach, Boca Raton, Delray Beach FL, Cambridge, Suffolk County NY Metropolitan, Towson, Metropolitan, Fort Lauderdale, Boston, Scottsdale, Scottsdale AZ Metropolitan Statistical, Miami, Kendall FL Metropolitan, Alexandria DC, Bloomington, Franklin TN Metropolitan, Virginia, Newport News, Livonia MI, Gastonia NC, SC Metropolitan, West Allis WI Metropolitan, Philadelphia PA Metropolitan, Kansas City, KS Metropolitan, Providence, Richmond VA Metropolitan, Cincinnati, Pittsburgh PA, Oklahoma City, Cleveland, Elyria, NJ, Columbus OH, Houston, Indianapolis, Arlington TX Metropolitan, Dallas, Irving TX Metropolitan Locations: Anaheim , California, Seattle, Sacramento , California, West Coast, Metropolitan, Anaheim, Santa Ana, Irvine, Bellevue, Sacramento, Roseville, Hayward, Berkeley, Portland, Vancouver, Hillsboro, San Bernardino, Ontario, Diego, Carlsbad CA, Denver, Aurora, Lakewood, Henderson, Tampa, St, Petersburg, Clearwater, Newark NJ, Orlando, Kissimmee, Sanford, Long, Glendale CA, Palm, Delray Beach, Newton, Framingham, Nassau County, Suffolk, Baltimore, Columbia, Pompano Beach, Deerfield Beach FL, Mesa, Scottsdale AZ, Miami, Kendall, Montgomery County, Bucks County, Chester County, Washington, Arlington, Alexandria, Sandy Springs, Roswell, Minneapolis, Paul, WI, Murfreesboro, Virginia Beach, Norfolk, Detroit, Dearborn, Livonia, Charlotte, Concord, Gastonia, Milwaukee, Waukesha, Warwick, Chicago, Naperville, Arlington Heights IL, Troy, Farmington Hills MI, Antonio, New Braunfels TX, York, Jersey, White Plains, Carmel, Worth, Plano

☆ DeepMind founder says governments need to compensate 'serious number of losers' who will be left jobless due to AI
▼ + stars: | 2023-05-10 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

A co-founder of DeepMind, the AI company bought by Google in 2014, warned about AI-related job losses. Mustafa Suleyman said at a San Francisco conference that there will be "a serious number of losers." A co-founder of the AI company DeepMind has warned that governments will need to figure out a plan to compensate people who will lose their jobs to the new technology, the Financial Times reported. DeepMind was bought by Google in 2014, and has helped it develop large language models similar to ChatGPT called LaMDA and PaLM. Suleyman left DeepMind last January, before setting up his own chatbot business called Inflection AI.

Ahead of Sunday's elections, a cost of living crisis is now hitting Erdogan's support in the southeast as elsewhere, threatening his prospects in a tough battle to maintain power. A survey published this week by pollster Rawest showed 76.3% support for opposition presidential candidate Kemal Kilicdaroglu in Diyarbakir province, with backing for Erdogan at just 20.5%. The Kurdistan Workers Party (PKK), deemed a terrorist group by Turkey and its Western allies, took up arms against the state in 1984. Those talks collapsed in 2015, unleashing a period of ferocious urban warfare in the southeast, including in the streets near Aydin's shop. CHANGE IN ERDOGANThe HDP, parliament's third largest party, has itself declared its support for Kilicdaroglu.

☆ How Singapore's giant sovereign wealth fund is investing in generative AI technology
▼ + stars: | 2023-05-09 | by ( Alistair Barr | ) www.businessinsider.com time to read: +4 min

As CEO of GIC, Singapore's sovereign wealth fund, he must keep the country's savings growing ahead of inflation. AI retoolingThe 2 investors were most animated when discussing the recent explosion of generative AI technology, including large language models. Chris Emanuel, head of the Technology Investment Group at GIC, Singapore's sovereign wealth fund GICThere's already a generative AI startup feeding frenzy among venture capital funds. Secondary market actionFinally, GIC is keen on doing more in the secondary market, where private stakes in startups and VC funds change hands. That means general partners, the people running VC funds, already know GIC and are more comfortable dealing with the organization, Lim explained.

☆ Home prices are back on the rise as the spring market proves more competitive than expected
▼ + stars: | 2023-05-02 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

After cooling for the better part of last year, home prices are on the rise again. "Just five months ago, prices were declining on a seasonally adjusted month-over-month basis in 92% of all major U.S. markets. Competition among buyers is not only pushing prices higher but also accelerating the market again. Of the nation's 50 largest housing markets by population, just Austin, Salt Lake City and San Antonio are seeing prices fall month to month. A separate report released Tuesday from CoreLogic focuses on home price comparisons from a year ago, but also shows prices gaining month to month.

☆ A housing economist shares the top 5 markets with the highest risk of price declines, plus where mortgage rates could be by year-end
▼ + stars: | 2023-04-26 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Mortgage rates are expected to be in the high fives by year-end, says Selma Hepp. Five US metros including Salt Lake City and Boise are highly vulnerable to price declines. It is a rough time for the real-estate market as mortgage rates remain volatile. Although mortgage rates are difficult to predict, Hepp says they could be in the high fives or about 5.8% by year-end. Below is a list of the markets with the highest risk of price declines, according to CoreLogic data.

☆ What Goldman's top dealmaker is saying behind the scenes about M&A and its spot on the league tables after a tough first quarter
▼ + stars: | 2023-04-25 | by ( Carter Johnson | ) www.businessinsider.com time to read: +6 min

Goldman was forced to share its M&A crown with JPMorgan last quarter. It's been a tough road in 2023 for the Wall Street banks that specialize in advising on mergers and acquisitions. In a note sent to Goldman's alumni network last Tuesday, Feldgoise acknowledged that things have been tough. The importance of Goldman's M&A franchise was underscored by the bank's first-quarter earnings released Tuesday. "The Goldman M&A franchise has been #1 for 20+ years," Feldgoise said in his letter.

☆ Apple reportedly nixes iPhone 15 button upgrade, sending supplier stock down 12%
▼ + stars: | 2023-04-12 | by ( Rohan Goswami | ) www.cnbc.com time to read: +1 min

The Apple iPhone 14, iPhone 14 Pro, and iPhone Pro Max on sale at the company's Fifth Avenue store in New York, US, on Friday, Sept. 16, 2022. Photographer: Jeenah Moon/Bloomberg via Getty ImagesApple supplier Cirrus Logic's shares fell about 12% early afternoon Wednesday after a report from analyst Ming-Chi Kuo said that the upcoming iPhone 15 Pro won't use Cirrus' haptic touch technology as heavily as initially expected. Cirrus' technology and parts help power Apple's haptic touch systems, which have been used to replace physical buttons, like the home button on some iPhones, with touch-sensitive buttons that mimic the way a button push feels. Cirrus' relationship with its "largest customer," widely acknowledged as Apple, provided around 88% of its revenue for the most recent quarter. Kuo had previously said that Apple would expand its use of Cirrus' technology beyond haptic touch and replace the physical volume buttons with solid-state technology.

☆ Goldman Sachs, JPMorgan stake competing claims to No. 1 deal advisory spot
▼ + stars: | 2023-04-04 | by ( Anirban Sen | ) www.reuters.com time to read: +3 min

JPMorgan edged out Goldman to claim the top spot in global league tables compiled by Refinitiv Deals Intelligence, having worked on $119.8 billion worth of deals versus $115.4 billion for Goldman in second place. In Dealogic's global league tables, however, Goldman claimed the top spot in the first quarter with $120.5 billion worth of deals. The discrepancies led to Goldman asking Refinitiv and JPMorgan asking Dealogic for explanations, according to people familiar with the conversations. Goldman Sachs, JPMorgan stake competing claims to No. 1 spot, though there are some known differences in how the league tables of Refinitiv and Dealogic are compiled.

☆ New CEO of UK's Rolls-Royce brings in new CFO, makes leadership changes
▼ + stars: | 2023-03-31 | by ( ) www.cnbc.com time to read: +2 min

Shares in Rolls-Royce have surged 60% since the start of the year, lifted by optimism about a recovery in air travel and Erginbilgic's turnaround plans. The company on Friday named McCabe, a BP executive, as its new chief financial officer, to join later this year. New finance chief McCabe is currently senior vice president, finance for the customer and products division of BP. The previous civil aerospace boss Chris Cholerton was named group president, taking on responsibility for Rolls-Royce's nuclear operations, including temporarily as interim CEO of its small modular reactors (SMR) unit. Rolls-Royce said the previous SMR boss, Tom Samson, would leave with immediate effect.

The court also allowed testimony from an expert who said Meta owes Neural Magic as much as $766 million in royalties. Representatives for Meta and Neural Magic did not immediately respond to requests for comment on the decision. Meta asked the court to throw out the case last year, arguing Neural Magic had failed to identify any protectable trade secrets and that Zlateski had not acquired the information improperly. But the court on Monday allowed Neural Magic's case to continue for all but one of the 41 secrets it accused Meta of misappropriating. The case is Neural Magic Inc v. Meta Platforms Inc, U.S. District Court for the District of Massachusetts, No.

☆ NBA roundup: Nets stun Celts with NBA's biggest comeback of season
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +7 min

Cam Johnson added 20 points for the Nets, who also received 17 points apiece from Spencer Dinwiddie and Dorian Finney-Smith. Jayson Tatum, who turned 25 on Friday, finished with 22 points and 13 rebounds, but he missed all eight of his 3-point attempts. Terry Rozier posted 22 points, Gordon Hayward 17 and Mark Williams 13 points for Charlotte, which was hurt by 21 turnovers. Kings 128, Clippers 127De'Aaron Fox recorded 33 points, seven rebounds and seven assists and Sacramento won its fifth straight game by prevailing over visiting Los Angeles. Jonathan Kuminga, coming off the Golden State bench, chipped in with 19 points, seven rebounds and four steals.

☆ Inside California's tiny-home takeover
▼ + stars: | 2023-02-24 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +8 min

For the state with the most dire housing shortage, the move could be a game changer — eventually. As the US grapples with a massive housing shortage, one possible solution is playing out in California right now — and the state may have struck gold. Oregon, Maine, and Nebraska, as well as cities like Miami, have enacted laws similar to California's. There's been opposition to ADUs from homeowners worried about the density of their neighborhoods and sometimes the aesthetics of the structures. Ultimately, the housing shortage could be alleviated, she said.

☆ New Rolls-Royce boss says more to come after profit beat
▼ + stars: | 2023-02-23 | by ( Paul Sandle | ) www.reuters.com time to read: +2 min

SummarySummary Companies FY op profit 652 mln stg, up 57%Profit beats consensusNew CEO says 2023 profit will riseLONDON, Feb 23 (Reuters) - The new chief executive of Britain's Rolls-Royce (RR.L) forecast more profit growth in 2023 after last year beat expectations, and said the engineering company was capable of "much more" as his transformation plan starts to take shape. As Rolls-Royce announced a 57% rise in underlying operating profit on Thursday, he said his transformation programme was already underway and moving at pace. The company posted operating profit of 652 million pounds ($786.4 million) for 2022, beating an analyst forecast of 478 million pounds, helped by an improving performance in civil aerospace, its biggest division, as travel recovers from the pandemic. For 2023, Rolls guided to underlying operating profit of 0.8-1.0 billion pounds and free cash flow of 0.6-0.8 billion pounds, helped by the early benefits of the transformation. ($1 = 0.8291 pounds)Reporting by Paul Sandle; additional writing by Sarah Young and Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

☆ Rolls-Royce slumps as new CEO warns of 'last chance' to change
▼ + stars: | 2023-01-27 | by ( Sarah Young | ) www.reuters.com time to read: +3 min

According to the Financial Times, Tufan Erginbilgic told staff at Rolls-Royce's main British site in Derby, central England, that the company's performance was "unsustainable" and it faced a "last chance" to change. "He was honest about our financial underperformance compared with our peers," a Rolls-Royce spokesperson said in an emailed statement on Friday. Shares in Rolls-Royce, which before the Financial Times report were at their highest for about a year, lost 4% in morning trading. Rolls-Royce was plunged into crisis when most air travel stopped for months during the pandemic, and then recovered only slowly. Many rounds of restructuring and asset sales were already undertaken under prior CEO Warren East, putting to question just how much more can be implemented," Zhao said.

☆ NBA roundup: Jalen Green, Rockets end 13-game skid
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +6 min

Alperen Sengun added 21 points, seven rebounds and seven assists as Houston ended a 10-game homecourt skid. Brook Lopez had 21 points, Bobby Portis logged 18 points and 10 rebounds and Jevon Carter also scored 18 points for the Bucks. Patrick Williams had a double-double of 18 points and 10 rebounds, while Alex Caruso (12 points) and Coby White (10) also finished in double figures for Chicago. Trae Young paced Atlanta with 21 points and 13 assists, joining Clint Capela (16 points, 12 rebounds) with a double-double. Jordan Clarkson added 18 points for Utah, which has won three of its past four.

☆ Home price increases weakened sharply in November, posting the smallest annual gain in 2 years
▼ + stars: | 2023-01-03 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Home prices are falling into a deep winter chill, as higher mortgage rates push more buyers to the sidelines. Prices are now 2.5% below the spring 2022 peak and are expected to continue to move lower this year. CoreLogic's forecast has price movement falling into negative territory by spring before rebounding to about 2% to 3% growth in the fall. Mortgage rates are back on the rise again after a brief reprieve in November and early December. Florida, South Carolina and Georgia saw the highest home price gains in the nation, as buyers continue to flock to the Sun Belt.

☆ NBA roundup: Thunder spoil Damian Lillard's record night
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +7 min

No Thunder player other than Gilgeous-Alexander scored more than 13 points, but six other Oklahoma City players scored in double figures. He scored 11 points and nailed three 3-pointers in the first six minutes to help the Cavaliers establish control early. Jarrett Allen added 20 points and 11 rebounds, while Darius Garland contributed 17 points and eight assists. Trae Young led the Hawks with 37 points, and he added 13 assists for his 15th double-double of the season. Anunoby returned from a four-game absence to score 13 points and reserve Chris Boucher had 13 points and 10 rebounds for the Raptors, who lost their sixth straight game.

☆ These are the 'worst' holiday gifts, according to one survey – and why some think candles definitely should make the list
▼ + stars: | 2022-12-17 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Over 6,000 adults around the world shared their "bad gift" experiences in a new survey. Gifts related to weight loss — including a scale, a gym membership, and other weight loss items — also were among the top 10 worst gifts, according to the respondents. Though not on ContextLogic's list of bad gifts, candles have taken hits for being less than ideal, according to Women's Health Magazine's "13 Gifts That Are Better Than A Candle." The list of the 10 "worst gift ideas," according to thousands of adults around the world. Defective items bought at discount (28%)Fruitcake (23%)Weight loss items (21%)Political gifts (20%)Out-of-style clothing (16%)Cheap chocolates (13%)Christmas ties (13%)Weight scale (12%)Knockoff luxury items (10%)Gym membership (10%)

The Special Technology Centre did not respond to a written request for comment. Russia's Ministry of Defence did not respond to questions from Reuters about the impact of sanctions and its relationship to the Special Technology Centre. Reached by phone, Alexey Terentyev, a top scientist and major shareholder at the Special Technology Centre, said the war has forced it to focus on making drones. Those corporate records show iLogic is based at the same St Petersburg office address as the Special Technology Centre. In a brief telephone interview, Roman Agafonnikov, chief executive officer of the Special Technology Centre, said he didn't know anything about iLogic.

☆ Singapore's GIC, partner to buy Canadian REIT Summit for $3.3 bln
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

Nov 7 (Reuters) - Singapore's sovereign wealth fund GIC and Canada's Dream Industrial REIT (DIR_u.TO) will buy Canada's Summit Industrial Income REIT (SMU_u.TO) for about C$4.46 billion ($3.30 billion), excluding debt, the companies said in separate statements on Monday. GIC and Dream Industrial REIT (DIR) will form a joint venture for the deal, with GIC owning 90% and DIR owning the rest, according to the statements. The deal builds on GIC's recent real estate purchases globally and gives it access to the Canadian industrial space. In September, GIC, along with another private equity firm, bought U.S. commercial REIT Store Capital Corp (STOR.N) for about $14 billion. Including debt, the deal is valued at C$5.9 billion, Summit said.

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