Realogy transactions soar 44% thanks to white-hot market

first_img Share via Shortlink He said New York City is also seeing a “big rebound.” So far in April, signed contracts are up 400 percent year-over-year, and they’re up 20 percent compared to the same period in 2019. “New York City is starting to come back,” he said.Nationwide, the housing market has been on fire and Realogy reaped the rewards: It generated $1.5 billion in first-quarter revenue, up 32 percent year-over-year.Nationwide, Realogy said April closed transactions were up 80 percent year-over-year and 50 percent since 2019.Amid a competitive environment for agents, Realogy also grew its agent headcount by 3 percent.Before the pandemic struck, Realogy enacted an aggressive cost-cutting strategy. The companysaid it is looking to shave $80 million in costs in 2021.Realogy’s stock closed at $15.22 per share on Wednesday ahead of the company’s earnings.That’s up 27 percent from six months ago, and more than four times the stock price a year ago.Contact E.B.Solomont Message* Full Name* Tags Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Email Address* realogyResidential BrokerageTechnology Realogy CEO Ryan Schneider (Realogy)Last year, Realogy and other brokerages were bracing for a housing slowdown. It never came.On Thursday, the brokerage giant said transactions soared 44 percent during the first quarter of 2021, marking the third quarter of consecutive gains. The company reeled in $33 million in profits, compared to a staggering $462 million loss during the same period last year (which included a $447 million impairment charge).During a Thursday earnings call, CEO Ryan Schneider said Realogy is gaining market share, even as the sector is firing on all cylinders. The National Association of Realtors recently reported 28 percent year-over-year growth in sales volume.“We are absolutely benefiting from our luxury leadership position,” Schneider said. “Florida is such a powerful engine of housing at the moment, and that’s our third biggest geography.”ADVERTISEMENTRead moreU.S. home price growth hits 15-year high Realogy suffers $462M loss in Q1 2020 Realogy profits surge amid rebound last_img read more

11-million jobs: Zuma calls for teamwork

first_img14 February 2013South Africa’s National Development Plan has set the ambitious target of creating 11-million jobs by 2030, which will require teamwork to get the economy growing at a rate of more than 5% a year, says President Jacob Zuma.Delivering his State of the Nation Address to a joint sitting of Parliament in Cape Town on Thursday, Zuma said South Africa’s gross domestic product (GDP) growth was expected to average 2.5% in 2013, down from 3.1% the previous year – and half the minimum 5% growth rate required to create 11-million jobs by 2030.“In my last meeting with the business community, the sector indicated that for the economy to grow threefold, we must remove certain obstacles.“We will engage business, labour and other social partners in pursuit of solutions. No single force acting individually can achieve the objectives we have set for ourselves.”Zuma said the National Development Plan (NDP), the country’s vision for the next 20 years, contained proposals for tackling the problems of poverty, inequality and unemployment, while outlining interventions to put the economy on a better footing.Youth unemploymentNoting that just over a third of the population was under the age of 15, Zuma said that South Africa, like many other countries, was faced with a crisis of youth unemployment.“Last May I asked constituencies at Nedlac to discuss youth employment incentives. I am pleased that discussions have been concluded and that agreement has been reached on key principles. The parties will sign the accord later this month,” Zuma said.These incentives would add to what the government was already doing to empower young South Africans, Zuma said, noting that state-owned companies provided apprenticeships and learnerships and urging that these be increased.Appeal to the private sectorZuma also appealed to the private sector “to absorb 11 000 FET [Further Education and Training college] graduates who are awaiting placements” – equivalent to the number of young people that the government had enrolled in various training programmes under its National Rural Youth Services Corps.The Department of Rural Development and Land Reform, which runs this Corps, was also planning to create nine Rural Youth Hubs per province, including in the 23 poorest districts in the country.“We will also use the Expanded Public Works Programme and the Community Work programme to absorb young people,” Zuma said, adding: “Working together we will find a solution to youth unemployment.”Regarding small business – recognised as key for job creation in the country – Zuma said a key project for the Presidency currently was to get government departments to pay small businesses within 30 days.“Departments are required to submit monthly reports so that we can monitor progress in this regard,” Zuma said, adding: “We have taken a decision that accounting officers who fail to execute this directive should face consequences.”SAinfo reporterlast_img read more

Transnet in ‘landmark’ R5bn bond issue

first_img8 November 2013South African state company Transnet issued a R5-billion bond registered with the London Stock Exchange on Thursday, becoming the first African company to list a local currency-denominated bond on the international capital markets.Transnet will use the proceeds of the bond to fund part of its seven-year, R307-billion infrastructure investment programme to expand South Africa’s rail, port and pipeline infrastructure.The placement of the bond, following successful roadshows by Transnet in the UK and US, “confirms South Africa as one of the leading investment destinations among emerging markets and provides a much needed boost for investment inflows,” Transnet said in a statement on Thursday.At the same time, the landmark issuance “confirms Transnet’s improved credit standing and investor confidence in the company’s ability to execute programmes under our audacious market demand strategy”.Ratings agency Fitch Ratings last week upgraded Transnet’s credit rating from “BB+” to “BBB”. Transnet said this affirmed its ability to raise funds in the market “on the strength of its balance sheet without government guarantees, allowing the fiscus to channel its resources towards the country’s other pressing needs”.Transnet’s latest bond was issued at a yield of 9.5 percent and will mature in 2021. It is the third successful bond issuance Transnet has made to meet its infrastructure investment funding requirement, and means that the company has now met its R15.6-billion funding requirement for the current financial year.All three bonds were issued on the strength of Transnet’s balance sheet, with no government guarantees required.SAinfo reporterlast_img read more

Gilas out to win Jones Cup

first_img“Right of the bat, we don’t know Canada. They will be big, they will be athletic. Our players will be tested and they don’t have the experience facing players like Canada but we just want to show character,” said Gilas assistant coach Josh Reyes.Gilas is boosted by American import Mike Myers.Joining Myers and Ravena are Mac Belo, Matthew Wright, Jio Jalalon, Kobe Paras, Carl Cruz, Mike Tolomia, Kevin Ferrer, Fonso Gotladera, Roger Pogoy, Raymar Jose, Von Pessumal, Ed Daquioag, Chris Standhardinger, Almond Vosotros and Ray Parks, who is a late addition to the 17-man roster.“We took the players who will really fit the system and more importantly the players who will fully commit to the program. I believe these players are really committed,” Reyes stressed.ADVERTISEMENT “Like any other endeavor, there is only one objective and the objective is to win,” said team manager Butch Antonio during Gilas’ sendoff party Wednesday at Bar One inside Crowne Plaza Manila Galleria in Pasig City.“The Jones Cup is one step moving forward for the program. Our goal is to win just like any other tournament,” Kiefer Ravena, one of the youngest players on the team at 23, echoed.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSWin or don’t eat: the Philippines’ poverty-driven, world-beating pool starsThe competition runs from July 15-23 and the team with the best record ends up as champion.Gilas opens its bid against Canada on Saturday. Another vape smoker nabbed in Lucena LATEST STORIES LOOK: Jane De Leon meets fellow ‘Darna’ Marian Rivera Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games China furious as Trump signs bills in support of Hong Kong Gilas Pilipinas bound for SEA Games. Photo by Mark GiongcoThe Jones Cup may just be part of the Philippine team’s buildup for bigger tournaments ahead such as the Fiba Asia Cup but Gilas’ goal remains the same.Winning is still the main objective of Gilas, which leaves for Taipei on Friday.ADVERTISEMENT MOST READ El Nido residents told to vacate beach homescenter_img Lacson: SEA Games fund put in foundation like ‘Napoles case’ Pagasa: Storm intensifies as it nears PAR Ethel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ Sports Related Videospowered by AdSparcRead Next Pagasa: Kammuri now a typhoon, may enter PAR by weekend McGregor ‘might never fight again’ after boxing bout, says UFC head Don’t miss out on the latest news and information. View commentslast_img read more

Manish Tewari, Chiranjeevi become MoS with independent charge

first_imgThe big bang reshuffle by Prime Minister Manmohan Singh, billed as the biggest ever in the past two decades, took place on Sunday morning. It could well be the last shuffle of the Union council of ministers before the next Lok Sabha polls in 2014. Full ListWho gets What:Manish Tiwari becomes Minister of State(Information and Broadcasting) with independent charge.Manish TiwariPawan Bansal becomes railway minister.Salman Khurshid replaces SM Krishna as the new external affairs minister. Chandresh Kumari Katoch made culture minister.Chandresh Kumari KatochHarish Rawat made minister of water resources.Harish RawatJyotiraditya Scindia made Minister of State(Power) with independent charge.Veerappa Moily made petroleum minister.Sachin Pilot made Minister of State(Corporate Affairs) with independent charge.Chiranjeevi is Minister of State(Tourism) with independent charge.ChiranjeeviDinsha Patel becomes minister of mines.Dinsha PatelPallam Raju to replace Kapil Sibal as HRD minister.Pallam RajuTariq Anwar is Minister of State for agriculture.Tariq AnwarRahman Khan made Minority Affairs minister.Rahman KhanAjay Maken given housing and urban poverty alleviation ministry.Ajay MakenAshwani Kumar replaces Salman Khurshid as law minister.Ashwini Kumar12:30 am: Reshuffle a mix of youth and experience, says PM 12:11 am: Lalchand Kataria takes oath as Minister of State.12:09 am: Dr Krupa Ravi Killi takes oath as Minister of State.12:06 am: Porika Balram Naik takes oath as Minister of State.12:04 am: Deepa Dasmunshi takes oath as Minister of State.12:02 am: Ninong Ering takes oath as Minister of State.12:00 am: S Satyanarayana takes oath as Minister of State.11:58 am: A H Khan Choudhury takes oath as Minister of State.advertisement11:57 am: Adhir Ranjan Chowdhury takes oath as Minister of State.11:56 am: Ranee Narah takes oath as Minister of State.11:54 am: K Jayasurya Prakash Reddy takes oath as Minister of State.11:52 am: Tariq Anwar takes oath as Minister of State. 11:51 am: Kodikunnil Suresh takes oath as Minister of State.11:49 am: Shashi Tharoor takes oath as Minister of State. 11:48 am: Chiranjeevi takes oath as Minister of State with independent charge. 11:46 am: Manish Tiwari takes oath as Minister of State with independent charge.11:43 am: Chandresh Kumari Katoch takes oath as cabinet minister.11:42 am: Harish Rawat takes oath as cabinet minister.11:41 am: Ashwani Kumar takes oath as cabinet minister. 11:40 am: Pallam Raju takes oath as cabinet minister. 11:38 am: Ajay Maken takes oath as cabinet minister. 11:36 am: Dinsha J Patel takes oath as cabinet minister.11:36 am: K Rahman Khan takes oath as cabinet minister.LIST OF MINISTERS TO BE SWORN-INCabinet :1- K Rahman Khan2- Dinsha Patel3- Akay Maken4- Pallam Raju5- Ashwani Kumar6- Harish Rawat7- Chandresh Kumari KatochMOS-Independent Charge:1- Manish Tewari2- K ChiranjeeviMOS:1 – Shashi Tharoor2- Kodikunnil Suresh3- Tariq Anwar4- K Jayasurya Prakash Reddy5- Ranee Narah6- Adhir Ranjan Chowdhury7- A H Khan Choudhury8- S Satyanarayana9- Ninong Ering10- Deepa Dasmunshi11- Porika Balram Naik12- Smt Dr Krupa Ravi Killi13- Lalchand Kataria  11:25 am: Sources: Jyotiraditya Scindia gets Power ministry.11:15 am: Sources: Sachin Pilot may get (MOS) Industry with independent charge.11:12 am: Jyotiraditya Scindia may get Corporate Affairs or Power portfolio, sources said.11:11 am: Pawan Bansal may get Rail or Surface Transport portfolio, sources said.11:08 am: Sources: Veerappa Moily may get Petroleum ministry, Ashwani Kumar Law and Order11:05 am: Younger people given opportunity if they perform: Ajay Maken11:02 am: Harish Rawat: Ready to work under Rahul Gandhi’s leadership.11:00 am: Country needs young leadership, said Harish Rawat.10:58 am: Sources: Salman Khurshid may get External Affairs portfolio.10:52 am: Jitendra Singh likely to get Sports and Youth Affairs, sources said.10:50 am: According to sources, Pallam Raju to be next HRD minister.10:46 am: Young Turks likely to be inducted in the Cabinet. 10:40 am: Today’s Cabinet reshuffle bears the stamp of Rahul Gandhi: SourcesArvind Kejriwal slams the Cabinet reshuffle. He says:Reshuffle exposes this government. Corrupt are not just protected but also rewarded.Salman (Salman Khurshid) was law minister and has been made foreign minister. Does that mean he has failed as law minister or he did so well that he was made foreign minister? The country won’t benefit from it, Kejriwal tweets.last_img read more

4 days ago​Ings hails Southampton character in Wolves draw

first_img​Ings hails Southampton character in Wolves drawby Freddie Taylor4 days agoSend to a friendShare the loveSouthampton star Danny Ings was pleased with the character his side showed against Wolves on Saturday.The Saints managed a 1-1 draw in the Premier League at Molineux.The draw leaves Southampton in 17th place, just above the drop zone on goal difference. But Ings took positives from the game.”For any player it’s important to have a positive mentality around the group, whether you’re starting or not starting,” he told the club’s official website after the game.”I really feel that’s important for a dressing room and I feel we have a great dressing room. We have players who are hungry and want to learn and it’s great to be a part of.”I feel it was a great point for us with the circumstances of the game, and now we have a great week coming where we can train, put our work in and hopefully put on another performance.” About the authorFreddie TaylorShare the loveHave your saylast_img read more

Stars To Attend Next Gen Rebels AfterParty

first_imgTony Award winner and host of CBS-TV’s The Late Late Show James Corden, will be joined by Jason Bentley, DJ and KCRW radio host, at the first Next Gen Rebels After-Party, Wednesday, May 11th from 9:30 p.m. to midnight at the Barker Hangar (3021 Airport, Santa Monica).Presented by Sandy and David Ellison with Skydance Media, the late night event immediately follows the biennial Rebels With a Cause Gala honoring Dr. Cheryl and Haim Saban, also at Barker Hangar. This addition of an after-party is designed to introduce today’s young adults to the groundbreaking cancer prevention research being developed by David B. Agus, MD and the team at USC’s Center for Applied Molecular Medicine (CAMM).The Next Gen Rebels After-Party will be an evening that features today’s best music played by Jason Bentley, host of KCRW’s Morning Becomes Eclectic and Metropolis. Tickets for the after-party are priced at $200 and limited edition Rebels With a Cause T-shirts will be available on site with an additional donation of $10 or more. Guests must be 21 and over to enter.James Corden is a multi-faceted performer, host, actor, writer and producer with accomplishments that span television, theater, film and comedy. He currently hosts the late-night television talk show The Late Late Show with James Corden on CBS. In 2012 he won a Tony Award for Best Actor in a Play for One Man, Two Guvnors. Corden co-created, co-wrote and starred in the BBC sitcom Gavin & Stacey (2007-2010), for which he won the BAFTA Television Award for Best Comedy Performance. He also hosts the British television comedy game show A League of Their Own since 2010. This year he will host the 70th Annual Tony Awards.Music director of influential NPR radio station KCRW in Santa Monica, Jason Bentley hosts their acclaimed programs Morning Becomes Eclectic and Metropolis. A much sought-after DJ, his schedule includes sets at The Coachella Festival, The Electric Daisy Carnival, Lightning in a Bottle, CRSSD Fest as well as a host of art, fashion and music industry events. Bentley has also built a distinguished career as a music supervisor for film, including the Matrix trilogy and TRON Legacy with Daft Punk. He has worked at Madonna’s Maverick Records as well as Island Records with founder Chris Blackwell and is closely associated with the Recording Academy (NARAS), the organization behind The Grammy Awards.David B. Agus MD is Director of the Westside Cancer Center and the Center for Applied Molecular Medicine (CAMM) at the Keck School of Medicine at USC.For more info about the event, click here.last_img read more

US stock indexes inch higher after days of huge losses

first_imgNEW YORK — U.S. stocks are modestly higher Friday morning and indexes overseas are slightly lower as a steep plunge in global stock markets comes to at least a temporary halt.Investors bought utilities, household goods makers and other stocks they see as relatively safe, and Nike surged after a strong quarterly report.Markets have suffered wide losses over the last week. The major U.S. indexes have fallen 10 per cent this month, and without a substantial gain over the final days of trading, they are headed for their single worst month since February 2009. That’s before the current bull market began.Investors around the world have grown increasingly pessimistic about the global economy over the next few years. It’s widely expected to slow down, but traders are concerned the cooling might be worse than they previously believed and that the U.S. could eventually tip into a recession.The Federal Reserve is projecting that the U.S. economy will grow 3 per cent this year, the fastest since 2005, and about 2.3 per cent next year, and forecasts two years of further increases after that. But as interest rates rise and regions the U.S. does a lot of business with, like Europe and China, also slow down, those estimates might be harder to reach.Trade tensions between the U.S. and China, the largest and next-largest economies in the world, are not the only reason for the expected slowdown in economic growth and corporate profits, but they are adding even more uncertainty to a picture that already looks cloudy.The S&P 500 index picked up 32 points, or 1.3 per cent, to 2,500 at 10:19 a.m. Eastern time. The index, which is widely used by funds that track the U.S. market, has fallen about 16 per cent from its high in September.The Dow Jones Industrial Average rose 360 points, or 1.6 per cent, to 23,214. The Nasdaq added 50 points, or 0.8 per cent, to 6,581. The Russell 2000 index of smaller-company stocks edged up 8 points, or 0.6 per cent, to 1,333.Athletic gear maker Nike jumped 8 per cent to $72.91 after a better-than-expected third-quarter report. That helped shoe retailer Foot Locker, which gained 4.8 per cent to $50.20.Household goods companies climbed. Pepsi rose 2.7 per cent to $113.15 and Procter & Gamble added 1.5 per cent to $92.36. Also rising were utilities and health care companies. Utility company Dominion Energy jumped 2 per cent to $76.34 and drugmaker AbbVie rose 2.2 per cent to 87.27.As of Friday morning, utilities and health care companies were the only two sectors in the S&P 500 that are higher than they were on Jan. 1. The S&P 500 itself is down about 7 per cent in 2018. After accounting for dividends, it’s on track for its first annual loss since 2008, the year the global financial crisis roiled markets.Defence contractors fell after President Donald Trump said he’s withdrawing U.S. soldiers from Syria in an unexpected move. Media reports say the administration might also pull large numbers of soldiers out of Afghanistan. Northrop Grumman fell 2.7 per cent to $236.97 and Lockheed Martin fell 2.7 per cent to $258.13.The market’s big losses this month are an outlier because December is generally the strongest time of the year for U.S. stocks. Traders often talk about a “Santa rally” that adds to the year’s gains as positions are closed out and people adjust their portfolios in anticipation of the year to come. Barring huge gains, this will be the worst December for the U.S. market since the 1930s.Germany’s DAX slipped 0.2 per cent while France’s CAC 40 fell 0.5 per cent. The FTSE 100 in Britain dipped 0.7 per cent. All three have suffered steep losses this year. The DAX is down 22 per cent from its record high in January, while the CAC 40 has fallen 17 per cent from its peak in May and the FTSE 100 has lost about 15 per cent over that time.Chinese markets have been in the front line of worries this year amid trade tensions with the U.S. The Hang Seng index in Hong Kong rose 0.5 per cent Friday, but is down 22 per cent since late January. The Japanese Nikkei declined 1.1 per cent and it’s down almost 17 per cent since early October. South Korea’s Kospi inched up 0.1 per cent.Stocks are not the only financial assets recording momentous changes this month. Oil prices have declined 40 per cent from recent highs amid concerns over a glut in the market. Worries over the outlook for oil demand, given the expected slowdown in the global economy, have made things worse.Benchmark U.S. crude dipped 0.2 per cent to $45.77 a barrel in New York. The international standard, Brent crude, declined 2 per cent, to $53.25 a barrel in London.Bond prices edged higher. The yield on the 10-year Treasury note fell to 2.78 per cent from 2.79 per cent.The U.S. dollar also ticked higher after two days of sharp losses brought on by fears about the economy and slower increases in interest rates. The dollar fell to 111.02 yen from 111.11 yen. The euro fell back to $1.1406 from $1.1469 and the British pound slipped to $1.2646 from $1.2671.____Pan Pylas contributed to this story from London.Marley Jay, The Associated Presslast_img read more