Real Estate

Speyers, Bloomberg Seek Revived $1 Billion Manhattan Yards Development New York's Metropolitan Transportation Authority said it may meet with other developers after talks broke down yesterday with Tishman Speyer Properties LP on a $1 billion deal to develop the Hudson Yards on the west side of Manhattan.

U.K. Home Repossession Claims Reach the Highest Level Since Early 1990s U.K. home repossession claims by mortgage lenders rose 16 percent from a year ago to the highest since the early 1990s, prompting the government to pledge more support to people struggling with their debts.

U.S. House Approves $300 Billion Foreclosure Legislation Opposed by Bush The U.S. House of Representatives passed legislation to let a federal agency insure up to $300 billion in mortgages to help homeowners avert foreclosure, a day after the White House threatened to veto the measure.

U.K. Government Pledges to Help Delinquent Homeowners as Defaults Increase The U.K. government pledged help for people struggling to keep up with mortgage payments as the number of households at risk of losing their homes reached the highest in more than a decade.

Acting HUD Chief Bernardi Open to Compromise on Anti-Foreclosure Proposals The Bush administration's top housing official said he's willing to compromise with Congress on anti- foreclosure efforts a day after the House of Representatives passed a housing package the White House has threatened to veto.

Fremont, Subprime Lender, May File for Bankruptcy as Plan for Sale Stalls Fremont General Corp., once the fifth- biggest U.S. subprime lender, may go bankrupt and wipe out shareholders because it won't have enough time or cash to complete the sale of its retail banking business.

California's Yountville Trades Beer Bars for Manning, Ellison, Witherspoon The blue-collar workers in Napa Valley's Yountville have been knocked off their bar stools, replaced by the likes of Super Bowl quarterbacks Tom Brady and Eli Manning, Oracle Corp. founder Larry Ellison and actress Reese Witherspoon sitting in fine restaurants.

Tejon Ranch, Environmentalists Agree to Bar Development on California Land Tejon Ranch Co., owner of the largest ranch in California, will permanently protect two-thirds of its land in an agreement with five environmental groups that opens the way for the construction of thousands of homes.

Diageo to Renovate Dublin Guinness Brewery, Sell Some Land for Development Diageo Plc will build a new Guinness brewery on Dublin's outskirts, increasing capacity to meet demand for the stout abroad, and sell half the land at its site in the Irish capital, where production started 250 years ago.