Page 77 - Selfridges News Today

The price of crude oil fell after a cartel of oil-producing nations led by Saudi Arabia surprised the market by issuing a statement that failed to include an expected pledge to cut production by another million barrels per day.

Blackstone raises $2.6 billion for real estate secondaries, FDIC flags office loans as a risk to banks

Austrian firm Signa Holding, which once had a property portfolio worth $30B, is the latest CRE giant to falter in the harsh environment.

The world’s biggest wine brand Moët & Chandon is at risk of losing its crown to Asian challenger Changyu.

Moët & Chandon faces competition from Chinese rival Changyu, which has seen a growth spurt while Moët's sales have dipped, db discovers.

Rene Benko's real estate giant Signa -- whose vast portfolio includes New York's iconic Chrysler building -- on Wednesday announced it would initiate insolvency proceedings, marking the spectacular downfall of the self-made Austrian tycoon. Signa said it would initiate insolvency proceedings at a Vienna court on Wednesday.

Rene Benkos real estate giant Signa -- whose vast portfolio includes New Yorks iconic Chrysler building -- on Wednesday announced it would initiate insolvency proceedings, marking the spectacular downfall of the self-made Austrian tycoon.

Brown Thomas and Arnotts have assured customers that the two retailers continue to operate as normal despite the stores’ Austrian part-owner, Signa, filing for insolvency.

Filing will concern dozens of European banks over their exposure to indebted group

René Benko’s Signa filed for insolvency, marking one of the most dramatic falls in the property sector in recent years