Three real estate-investment bankers at Credit Suisse Group AG, UBS AG and Citigroup Inc. are leaving to start their own company to tap rising demand for property transactions in Germany, three people with knowledge of the matter said.
Lone Star Funds, the private-equity firm led by Chairman John Grayken, bought 23 buildings from State Farm Mutual Automobile Insurance Co. and will lease them back to the largest U.S. property-casualty insurer.
Apollo Global Management LLC, which has raised $3.9 billion to buy distressed European assets, is hunting for hotels and resorts in Spain as tourists from across Europe help pull the country out of a two-year recession.
Commerzbank AG, Germany’s second- biggest lender, cut its riskiest shipping and property assets by 33 percent to 8 billion euros ($11 billion) in the third quarter after the sale of its U.K. real estate unit.
President Barack Obama said he’s sorry that thousands of Americans are finding their medical insurance canceled as a result of his health-care law, as his administration works to contain the political damage from the troubled rollout of his signature domestic achievement.
President Barack Obama moved to quell growing dissent among Democratic lawmakers over the troubled rollout of his signature health-care law, summoning senators facing re-election for a two-hour White House meeting.
When Ken Duberstein’s secretary told him Michael Dell was on the phone on the afternoon of July 31, there was little doubt about the topic. That morning, Dell Inc.’s special board committee had rejected the latest offer from Dell to take the personal-computer company private, a battle that was dragging into its 11th month.