Tuesday, November 14, 2017

Today's Headlines

  • Germany Puts Euro-Area Economy in Line for Best Growth in Years. The euro-area economy maintained its solid pace of expansion in the third quarter, keeping it on track for its best annual performance in a decade. Gross domestic product rose 0.6 percent in the period, unchanged from a flash estimate, the European Union’s statistics office said Tuesday. In Germany, the region’s largest economy, expansion accelerated to 0.8 percent, while Italy’s picked up to 0.5 percent.
  • One57 Foreclosure Shatters Price Dreams at Billionaires' Tower. When a full-floor penthouse at Manhattan’s One57 sold at a foreclosure auction, it didn’t just settle an international mortgage gone bad. The deal also set a new price standard for the Billionaires’ Row tower that once stood as a symbol of unlimited extravagance. The 6,240-square-foot condo spanning the skyscraper’s 79th floor sold for $36 million last week to an unidentified buyer, the highest of five bidders in addition to the lender. The price was 29 percent less than the $50.9 million that Nigerian businessman Kolawole Akanni Aluko paid for the apartment when he bought it new in 2014.
Wall Street Journal:

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