European Central Bank President Mario Draghi won wide support from his board for a plan to buy the sovereign debt of euro zone countries. Rates on Spanish 10-year bonds promptly fell to levels last seen in May, and the corresponding Italian bond fell to its lowest since April.
LightSquared, the wireless broadband company backed by Harbinger Capital founder Phil Falcone, is battling with creditors over control of the firm’s bankruptcy, according to Bloomberg. LightSquared has asked a judge to extend a deadline to file a Chapter 11 plan; the creditors say, “Having nothing to lose, Mr. Falcone wants to pursue a high-risk, high-return strategy.”
IKB Deutsche Industriebank AG is suing everybody, or at least it seems that way: the German lender is suing Citigroup and Goldman Sachs over losses of $137.4 million and $73.2 million, respectively, on mortgage-backed securities. In May, the Dusseldorf-based lender sued Bank of America over losses of more than $200 million on mortgage Read More
Lies and Rumors
The Qatari Prime Minister, despite being everyone’s favorite character in the drama of the New York’s luxury real estate market, is not the buyer of the $90 million penthouse at One57, according to Gary Barnett.
Mr. Barnett, the president of Extell Development, told The Wall Street Journal that the rumors, though rampant, were false.
“We’re looking at embedding reporters, we’re looking at new and interesting camera angles,” Jim Wilkinson said recently in the quick, confidential drawl reporters got used to at the U.S. Central Command in Doha, Qatar. But while the Republican operative spent much of the year in desert camouflage as General Tommy Franks’ director of strategic Read More
1. “This is the No. 1 selling product on the first floor!”
2. “It’s made on an olive farm in Athens!”
3. “The ‘dark’ shade would be for people of, you know, I guess, ethnic descent?”
4. “This isn’t a powder; it’s a mineral in powder form. So it’s a powder, but it’s Read More
Just as the New York Academy of Sciences was poised to
accept a $27 million bid for its mansion on East 63rd Street off of Fifth
Avenue, that offer-from the Emir of Qatar, Sheikh Hamad
bin Khalifa al-Thani-was
rescinded in early October.
The Emir, the highest official of the nation of Qatar, has
come Read More