Power-One Inc., the maker of electrical inverters whose stock has more than quadrupled in a year, plans to ship its first U.S.-made units to solar power developers Dec. 1, anticipating growth in its home market.
Blackstone Group LP raised more than $4 billion in 2009 to buy European property assets anticipating that cash-strapped banks would be forced to sell as the region’s debt crisis worsened. Almost all of it sat idle for two years.
Europe’s banks will dispose of a record 80 billion euros ($110 billion) of non-core loans this year as they trim balance sheets before central bank stress tests, according to PricewaterhouseCoopers LLP.
Florida, the U.S. state with the highest percentage of troubled mortgages, may collect almost one-quarter of the national $25 billion foreclosure settlement. For Cheryl Alexander, who had a court halt the forced sale of her home, that’s not enough.
High wind and heavy rain swept across the U.S. East Coast, tying up air traffic in New York, prompting Washington to hand out sandbags and knocking out power in North Carolina and Virginia. More rain is expected in New York late today.