Wednesday, 29 May 2013 21:17
Posted by Abdul Ahad
NEW YORK: New York's iconic Empire State Building is a step closer to being sold through an initial public offering, the owners said Wednesday, after a lengthy legal tussle with opposing investors.The 102-story skyscraper, which is the second tallest in New York and a key fixture on the Manhattan skyline, can go ahead with the sell-off after the Malkin family, which controls the building, finally got enough support."More than the required supermajority has approved the consolidation and IPO," a regulatory filing at the SEC said.At least 80 percent of Empire State Building Associates LLC holders had to approve the Malkins' plan for what would be one of the highest profile real estate stories in New York for years."We are pleased to deliver to our investors a proposal which has received such support," a Malkin spokesperson told AFP."The vote remains open and we urge all investors who have not yet voted ...
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NEW YORK: New York's iconic Empire State Building is a step closer to being sold through an initial public offering, the owners said Wednesday, after a lengthy legal tussle with opposing investors.The 102-story skyscraper, which is the second tallest in New York and a key fixture on the Manhattan skyline, can go ahead with the sell-off after the Malkin family, which controls the building, finally got enough support."More than the required supermajority has approved the consolidation and IPO," a regulatory filing at the SEC said.At least 80 percent of Empire State Building Associates LLC holders had to approve the Malkins' plan for what would be one of the highest profile real estate stories in New York for years."We are pleased to deliver to our investors a proposal which has received such support," a Malkin spokesperson told AFP."The vote remains open and we urge all investors who have not yet voted ...
SAO PAULO: Brazilian stocks posted the biggest drop in six weeks on Wednesday after data showed Latin America's largest economy grew less than expected in the first quarter.Mexico's IPC index returned part of the previous session's gains, while Chile's bourse slipped for the fifth straight day.Economic growth data released Wednesday showed President Dilma Rousseff's numerous stimulus packages failed to aid manufacturers in the first quarter while consumers, scared by rising inflation, grew more conservative."The disappointment ...
NEW YORK: US stocks accelerated their losses in early trade Wednesday amid concerns about growth in the global economy and China.After an hour of trade, the Dow Jones Industrial Average was down 122.32 points (0.79 percent) at 15,287.07, pulling back from a record closing high Tuesday.The broad-market S&P 500 tumbled 13.45 (0.81 percent) to 1,646.61, while the tech-rich Nasdaq Composite Index shed 25.35 (0.73 percent) at 3,463.54.The OECD's cutting its world growth forecast for 2013 ...
NEW YORK: US stock index futures fell on Wednesday, indicating a drop off record highs at the open, as investors continued to question the longevity of the Federal Reserve's stimulus program.Supportive monetary policies from central banks around the world have lifted equity markets this year, with the S&P 500 up more than 16 percent. On Tuesday, stocks soared and the Dow closed at another record high after the Bank of Japan and European Central Bank ...
NEW YORK: US stocks rose on Tuesday, with the Dow closing at yet another record high, in the wake of Wall Street's first three-day losing streak of the year, after central banks reassured investors that they will keep policies designed to foster global growth.Consumer confidence was the strongest in May in over five years, while home prices accelerated in March by the most in nearly seven years. The reports showed the US economy's resilience despite ...
TORONTO: Canada's main stock index rose on Tuesday, led by the energy and financial sectors, as investors were encouraged by positive US economic data and signs of support for stimulus programs from the Japanese and European central banks.The gains were capped by a decline in shares of gold producers after the price of bullion tumbled on the upbeat economic news.Data on Tuesday showed US home prices accelerated by the most in nearly seven years in ...
