Brookfield Office Properties , lower Manhattan’s biggest office landlord, said first-quarter funds from operations rose 14 percent as the Australian properties it acquired last year contributed to income.
Bank of America Corp. tentatively agreed to keep about 750,000 square feet of space at lower Manhattan’s World Financial Center, less than a sixth of its current lease, three people familiar with the discussions said.
Long lines of tractor-trailers filled with electronics, apparel and home-improvement goods crowd Interstate 10 through Southern California’s Inland Empire. The trucks are headed for a growing number of warehouses that are displacing the citrus groves that once dominated the area.
Australia will become the first country to require cigarettes to be sold in uniform packages after its top court rejected a challenge from tobacco companies, setting a precedent for other nations to follow.
British American Tobacco Plc said an Australian law prohibiting the display of tobacco companies’ logos, labels and trademarks “sterilizes” their intellectual property rights and must be declared unconstitutional.
At 21, Steve Morgan borrowed 5,000 pounds ($8,100) from his father to start a business that would become U.K. homebuilder Redrow Plc. Four decades later, he says he couldn’t repeat the feat in Britain.