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U.S. markets recover from steep losses
LOS ANGELES, March 18 (UPI) -- Officials in Los Angeles announced Tuesday construction on a $2 billion project on Grand Avenue will begin this month.
The project that includes eight condo and office towers, a public park, a hotel and retail space, was given the green light when the government approved a $100 million investment from a fund controlled by the royal family of Dubai.
Funding for the project had been in jeopardy after early investor California Public Employee's Retirement System backed out, claiming the organization was over-invested in the Los Angeles real estate market, the Los Angeles Times reported.
Downtown Los Angeles has already been rife with residential housing projects and several have been put on hold or canceled, the paper said.
"We need to continue to wish ourselves good luck," county Supervisor Gloria Molina said at a meeting after the go-ahead was announced.
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CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
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ORLANDO, Fla., May 23 (UPI) --
The U.S. Air Force has added Lockheed Martin to its list of companies for support of its medical services worldwide.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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