Developer Threatens to Sue Jackson For $120 Million After Town Council Closes Overdevelopment Loophole
JACKSON, N.J. — Vito Cardinale, the principal developer of Adventure Crossing, has threatened to sue Jackson Township over an ordinance passed last year that blocks him from building 1,150 housing units at…
Cancer drug developer CG Oncology valued at $1.75 billion in strong debut
By Pritam Biswas (Reuters) -Cancer drug developer CG Oncology notched up a valuation of $1.75 billion in its market debut on Thursday, after its shares jumped 52.6% at the open, as new…
SQM ties up with Hancock on $1.1 billion bid for Australian lithium developer Azure
By Melanie Burton MELBOURNE (Reuters) -Chile’s SQM has teamed up with Australia’s richest person, Gina Rinehart, to make a sweetened A$1.7 billion ($1.14 billion) bid for Australian lithium developer Azure Minerals, the…
Chinese developer Shimao trades flat after issuing plan to revamp offshore debt
HONG KONG (Reuters) – Shares in Chinese property developer Shimao Group were flat on Friday after it issued a restructuring plan to reduce up to $7 billion in offshore debt, becoming the…
Engine Capital pushes for changes at cancer therapy developer 2seventy bio
(Reuters) -Activist investor Engine Capital on Wednesday sent a letter to the board of cancer therapy developer 2seventy bio, urging a board refresh and the appointment of Chief Operating Officer Chip Baird…
Agoura Hills Property Developer Sentenced to Nearly 3½ Years in Prison for Lying on Bankruptcy Petition and Filing False Federal Tax Returns
LOS ANGELES – An Agoura Hills real estate developer was sentenced today to 41 months in federal prison for failing to disclose on a bankruptcy petition that he had earned nearly $2.3…
Fallout Leading Offshore Wind Developer Pulls Plug On Two Projects
Leading Offshore Wind Developer Pulls Plug On Two Projects Nick Pope on October 31, 2023 A major offshore wind developer announced that it is cancelling two major developments on Tuesday evening. Orsted,…
OpenAI to make models cheaper, more powerful in its first developer conference
By Anna Tong and Krystal Hu ChatGPT maker OpenAI is expected to announce product enhancements that will make its AI models cheaper, with more functionality, in its first-ever developer conference on Monday.…
Governor Murphy Announces Legal Fight to Force Windfarm Developer to ‘Fulfill its Obligations’
NEW JERSEY, NJ – Governor Murphy pledged to initiate a legal fight against Danish wind farm developer Orsted after the company abruptly abandoned its Ocean Wind 1 project in New Jersey. The…
Former FBI Special Agent and D.C. Real Estate Developer Sentenced for Role in Bribery Schemes
WASHINGTON – David Paitsel, 42, a former FBI agent, and Brian Bailey, 53, a D.C. real estate developer were sentenced today on bribery and conspiracy charges…
China developer Kaisa tells court creditors will get less than 5% back if liquidated
HONG KONG (Reuters) – Struggling Chinese property developer Kaisa Group said creditors would get less than 5% of their money back if it is forced into liquidation, a lawyer for one creditor…
Testa Bill to Address Developer Bribes in New Jersey
Sen. Michael Testa introduced legislation to address developer bribes in New Jersey after multiple reports of corruption have flown under the radar.…
Chinese developer Sunac seeks Chapter 15 protection in New York court
(Reuters) -Chinese developer Sunac China Holdings has filed for Chapter 15 protection from creditors in a U.S. bankruptcy court, court documents showed on Tuesday. The company sought protection under Chapter 15 of…
Cash-squeezed developer Country Garden faces another dollar coupon deadline
By Xie Yu HONG KONG (Reuters) – Embattled Chinese property developer Country Garden faces yet another liquidity test with Monday’s deadline to pay $15 million in interest linked to an offshore bond…
Albemarle aims to close buyout of lithium developer Liontown by mid-2024
(Reuters) -Albemarle, the world’s largest lithium producer, aims to close its buyout of junior Australian rival Liontown Resources by the middle of 2024, its chief executive said on Tuesday. Albemarle earlier this…
Stocks for New Jersey’s Offshore Wind Developer Orsted Crash
ATLANTIC CITY, NJ – Orsted, the company tasked by New Jersey Governor Phil Murphy saw its shares plummet today in a sign of bad news to come for the controversial offshore wind…
China developer Vanke sees pressure on profit amid market downturn
HONG KONG (Reuters) – Chinese state-backed property developer China Vanke said its profit would be under pressure in the short term amid a market correction, but that would not hurt its cashflow.…
Bucco Calls on Democrats to Answer For $1 Billion Bailout of Foreign Wind Developer After Company Reports Significant Earnings
Sen. Anthony M. Bucco blasted Democrats for approving a $1 billion bailout of foreign wind developer, Orsted, after a press release from the company indicated strong first half profits in their offshore…
Munich developer insolvent in latest blow to German property sector
By Tom Sims FRANKFURT (Reuters) – A Munich-based property developer said on Friday it had filed to open insolvency proceedings with a local court, in the latest sign of stress in Germany’s…
Moody’s cuts ratings of Chinese developer Country Garden
(Reuters) – Ratings agency Moody’s on Thursday downgraded Chinese developer Country Garden’s corporate family rating (CFR) to Caa1 from B1, citing heightened liquidity and refinancing risk after the company missed bond payments.…
After Democrat’s $1 Billion Bailout of Foreign Wind Developer, Bucco Renews Call for Offshore Wind Moratorium to Assess True Impacts to Ratepayers, Environment
Sen. Anthony M. Bucco called on legislators to return to Trenton and vote on a wind moratorium.…
China developer Yuzhou offers debt restructuring plan
HONG KONG (Reuters) – Chinese property developer Yuzhou Group rolled out a plan to restructure its debt after defaulting on dollar bond payments last year, sparking a short rally in its shares…
China developer Country Garden to raise $300 million – term sheet
By Summer Zhen (Reuters) – Chinese property developer Country Garden Holdings will raise $300 million in a primary placement in an attempt to repay its debts, a term sheet seen by Reuters…
Australian developer Lendlease to cut about 740 jobs globally
By Scott Murdoch and Lewis Jackson SYDNEY (Reuters) -Australian developer Lendlease will cut about 740 jobs globally, or roughly 10% of its workforce, according to an internal memo on Tuesday seen by…
Foreign Off-Shore Wind Farm Developer Now Suing Jersey Shore Communities
CAPE MAY, NJ – 0rsted, the offshore wind turbine company that just received a billion-dollar state bail-out to build a wind farm off the coast of South Jersey, is now suing multiple…
Durr Opposes Bill Redirecting $1 Billion of Ratepayer Relief to Foreign Wind Farm Developer
Sen.Ed Durr expressed his strong opposition to legislation that would redirect up to $1 billion from ratepayers to a foreign company that is building a disputed wind farm off the coast of…
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