Anbang Insurance Group plans to sell about $10 billion in foreign property holdings as part of an effort to clean up its balance sheet, according to sources. The Waldorf Astoria in New York City, which Anbang acquired in 2014 for $1.95 billion, will not be sold, the sources say.
It would be appropriate for the Federal Reserve to consider publishing a compound average of the Secured Overnight Financing Rate to foster greater confidence in the benchmark, Vice Chairman for Supervision Randal Quarles told the Alternative Reference Rates Committee on Thursday. "It has been suggested that we could call it SAFR, for secured average financing rate, and this is something that we are encouraging our staff to explore," Quarles said, and the ARRC has selected SOFR as a Libor alternative, encouraging the industry to make a shift.
Some central banks, including the Bank of England, will likely follow the example of the US Federal Reserve and increase interest rates in the coming months; Norway's central bank is projected to raise rates in September. The People's Bank of China is the main exception, being expected to ease policy in response to the trade tariffs imposed by US President Donald Trump.
For investors concerned that inflation may continue heating up as labor market conditions tighten, REITs have an important place in an inflation-protecting investment approach. Brad Case, Nareit's senior vice president, research and investor information, shows how to construct an inflation-protecting portfolio without exposing yourself to the risk of guessing wrong about an increase in the inflation rate.
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The grocery sector has been taking steps to become more of an omnichannel player in the wake of Amazon's acquisition of Whole Foods last year. So far, the disruption in the sector has been minimal, but many grocers expect Amazon to become more aggressive.
Leslie Hale, poised to take over as president and CEO of RLJ Lodging Trust in August, has been with the REIT and its predecessor for 13 years. "I've really had a great career by all standards," she says.
After setting on a course change two years ago, VEREIT's portfolio diversification has been moving in a positive direction, says CEO Glenn Rufrano. The REIT's strategy for diversification includes limiting office properties to no more than 15% to 20% of its portfolio.
The number of Americans filing for state unemployment benefits fell last week to a seasonally adjusted 207,000, the smallest number since December 1969, the Labor Department said. Economists surveyed by Reuters expected claims to rise to 220,000.