China Investment Corporation, China’s $300 billion sovereign-wealth fund (SWF), is preparing to buy distressed U.S. real estate assets.
It will do so using the U.S. Treasury Department’s Public-Private Investment Program (PPIP) to fund the investments, reports the Wall Street Journal.
Meanwhile, several Chinese officials warned that Wall Street isn’t taking the recession seriously, and that much more [...]
Posts Tagged ‘USA’
China Ramps Up To Buy Cheap U.S. Real Estate
September 10th, 2009 by Financial Writer
Tags: China, economic, financial crisis, real estate, USA
more...Government suspends ‘cash for clunkers’ program
July 30th, 2009 by Financial Writer
The government is suspending the explosively popular “cash for clunkers” program fearing it would go broke before it could parcel out what it still owes dealers for a huge backlog of sales.
The pending suspension was confirmed by Bailey Wood, legislative director for the National Automobile Dealers Association (NADA), which had been called Thursday night by [...]
Tags: backlog, dealers, government, USA
Wall Street stages an advance, with consumer, commodity and tech shares leading the charge
June 25th, 2009 by Financial Writer
Stocks rallied Thursday, finding momentum after a week of choppy trading, as investors scooped up a variety of shares hit in the recent selloff — including commodity, consumer, homebuilding and tech issues.
The Dow Jones industrial average (INDU) gained 172 points, or 2.1%. The Dow rose as much as 190 points earlier in the afternoon.
The S&P [...]
Tags: cosumers, investor market, stock bounce, USA, wall street
Retirement Advice for Freelancers
June 5th, 2009 by Financial Writer
Going it alone isn’t easy. Ask any freelancer. The stability that comes from a steady paycheck is just one of the perks that intrepid self-employed workers forgo in the name of flexibility and freedom. They also give up on access to the tried-and-true retirement savings infrastructure that’s built into most big companies, including pensions, profit [...]
Tags: freelancer retirement, self-employed, USA
GM bankruptcy: End of an era
June 1st, 2009 by Financial Writer
After years of losses, the troubled automaker is forced into bankruptcy. GM is set to close a dozen facilities and cut more than 20,000 jobs.
General Motors filed for bankruptcy protection early Monday, a move once viewed as unthinkable that became inevitable after years of losses and market share declines capped by a dramatic plunge in [...]
Tags: Global Recession, USA, World Financial
Dollar falls to 2009 low
June 1st, 2009 by Financial Writer
Risk appetite improves on U.S. stock gains, upbeat data from China and Europe.
The dollar fell to its lowest levels so far this year against both a basket of currencies and the euro Monday, as optimism that the global economy is on the road to recovery boosted riskier assets.
Commodity-related currencies including the Australian and New Zealand [...]
Tags: China, Dollar Falls, Europe, Global Economy, USA
Recession Turns Malls Into Ghost Towns
May 22nd, 2009 by Financial Writer
In the 12 months ended March 31, U.S. malls collectively posted a 6.5% decline in tenants’ same-store sales, according to Green Street Advisors Inc., a real-estate research firm. The recent slump was led by an average 7.3% sales drop at Simon Property Group Inc., the operator with the largest number of mall locations.
The industry’s woes [...]
Tags: commercial industry, Global Recession, USA
U.S. Financial System Healing
May 20th, 2009 by Financial Writer
The U.S. financial system is healing, Treasury Secretary Timothy Geithner said on Wednesday, but contractions in Japan’s and Mexico’s economies showed the path to a global recovery could be long and tough.
The U.S. Federal Reserve said it saw modest improvements in the U.S. economy last month, but cut its forecast for economic growth over the [...]
Tags: Global Recession, Money News, USA