PUBLISHED: 13:07 05 June 2018 | UPDATED: 14:40 05 June 2018 Tom Horton CGI of the new BBC centre. Picture: GLA GLA Sadiq Khan has unveiled plans for a £1.1 billion Olympic Park project that will see world-renowned organisations including the BBC, the V&A and UCL open new facilities there. Dignitaries including mayor of London Sadiq Khan, mayor of Newham Rokhsana Fiaz and V&A director Tristam Hunt at the East Bank site. Picture: Tom Horton The project, dubbed East Bank to draw comparisons with central London’s South Bank, will see the BBC relocate its music studios to the site of the London 2012 Olympic Games. Art and design museum the V&A will also open a new waterfront museum in the park, as well as a collection and research centre inside the Here East development. A new University College London (UCL) campus home to 4,000 students will also form part of the plans, alongside a new London College of Fashion campus and a Sadler’s Wells theatre and … [Read more...] about Plans unveiled for £1.1 billion Olympic Park cultural hub with new BBC and V&A centres
1 billion house
NORFOLKCity officials have big hopes for the coming decade, including building new defenses against Norfolk’s ever-worsening flooding and redeveloping a 200-acre swath east of downtown that contains aging public housing communities.But mounting debt that will eat up larger chunks of municipal budgets for the next several years could delay those and other high-profile projects. That’s likely to have the city tightening its belt until it can pay down some of the bills it’s racked up over the past 10 years.Norfolk essentially paid its way through the recession on its credit card, city officials say, and continued taking on debt to construct major projects while it delayed paying off what it owed.Now, the city’s total unpaid debt has topped $1.1 billion, with another $300 million authorized but still to be issued.“We took on a lot of debt over the last 10 years, and the bill is coming due,” Mayor Kenny Alexander said at a recent City Council … [Read more...] about Norfolk has $1.1 billion in debt. That’s likely to delay major projects.
By Andrew Edwards | [email protected] | Inland Valley Daily BulletinPUBLISHED: May 21, 2018 at 7:30 am | UPDATED: May 21, 2018 at 11:30 pm Investors spent nearly $1 billion buying Long Beach area apartment buildings over a 12-month period, outpacing any other submarket in Greater Los Angeles. The news comes from CoStar Group, a real estate analytics firm, which published its findings after compiling sales totals for the 12-month period ending March 31. Long Beach’s apartment sales, with submarkets in San Pedro and Wilmington, include a deal for The Current, a luxury downtown tower that changed hands for about $133 million last July. CoStar also reported, however, that smaller deals involving private investors are the major factor behind Long Beach’s high sales activity. The upfront costs to buy a Long Beach apartment building are less than other coastal areas, and Long Beach investors also can expect a greater rate of return from new properties. “You need to have … [Read more...] about Investors spend nearly $1 billion on Long Beach apartments, outpacing Greater LA
George Nader poses backstage with President Donald Trump at a Republican fundraiser in Dallas, Texas, October 25, 2017. AP Elliott Broidy a top fundraiser for President Donald Trump, and George Nader, Broidy's business partner, pitched themselves and pushed the interests of Saudi Arabia and the UAE to the White House. The two pushed for anti-Qatar policies at the highest levels of government, and expected large consulting contracts from Saudi Arabia and the UAE. The gist of their plan was to show evidence that Qatar was too close to Iran and supported Islamist groups, including the Muslim Brotherhood. Broidy and Nader tried to persuade the US government to sanction Qatar and move a key military base from Qatar to another location in the Gulf. Nader's connection to UAE's Sheikh Mohammed bin Zayed Al Nahyan and defense contract mogul Erik Prince eventually caught the attention of US investigators in the Russia probe. He had ingratiated himself with crown princes from … [Read more...] about How a top Trump fundraiser spent a year cultivating 2 crown princes to nail $1 billion in business
DUBLIN (Reuters) – Allied Irish Banks (AIB) <AIBG.I> has agreed to sell a 1.1 billion euro (960 million pounds) portfolio of non-performing loans to a consortium led by distressed debt fund Cerberus, the bank said in a statement on Thursday. AIB was rescued by the Irish government during the financial crisis but its recovery since then has enabled the state to sell of some of its holding in an initial public offering last June. AIB reduced its non-performing exposure to 9.2 billion euros at the end of March 2018 from 31 billion euros in 2013. This latest deal cuts the exposure by an additional 1.1 billion euros. The consortium includes Everyday Finance, an Irish debt management business acquired by London-based Link Financial Group from Finance Ireland in 2016, which is regulated by the Irish central bank. Some of the loans are in deep, long-term arrears with around 90 percent of them more than 2 years past due, and around 70 percent more than 5 years in arrears. … [Read more...] about Allied Irish Banks to sell 1.1 billion euros in problem loans