Tina Ford, an Australian public servant, said she could hardly believe it when her three-bedroom apartment sold this month for A$1 million ($877,000) at an auction in which all 16 registered bidders were ethnic Chinese.
Chinese buyers have overtaken Americans to become the biggest investors in Australian property, drawn by the nation’s strengthening housing market, as their government tightens rules on buying at home.
The European Union responded to the Arab uprisings of 2011 with pledges that echo what it is now offering Ukraine: “full support to the transition” in a “new partnership” that yields “improved opportunities for economic prosperity” plus “strengthened regional stability.”
Fannie Mae is snatching potential profits away from mortgage lenders as it posts record earnings that are fueling industry concern the government-backed company is regaining its swagger even as lawmakers plot its demise.
Electronic Arts Inc., the No. 2 U.S. video-game maker, posted third-quarter sales that fell short of analysts’ estimates and cut its full-year revenue outlook as shoppers spend less on games for old consoles.