Iron Ore Price Up 65%
Large iron ore miners negotiated 65% price increase with Japanese and South Korean Steel producers.
China’s Property Market in Major Shakeup
Chinese real estate brokerage firms are closing offices and downsizing. Developers are canceling projects as house prices decline.
No More Grocery Stores
High real estate prices are driving grocery stores out of New York, leaving local residents malnourished.
Lehman is the Next To Fall
Lehman Brothers has almost $40 billion of commercial real estate loans on their books, and some analysts think they are the next phase in the credit crisis.
Another $18 Billion Write-Off For UBS
With $80 billion in sub-prime exposure, UBS faces another massive write-off.
