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Great Spaces: Cher’s Former Beverly Hills Mansion

By Susanne Dwyer

Want to walk the same halls as pop legend Cher and comedic hero Eddie Murphy? Now you can. Hidden in plain sight in Beverly Hills’ Benedict Canyon Drive is the 20,000-square-foot mega-mansion designed and decorated by Cher herself, and it’s hot on the market.

With 11 bedrooms and 17 bathrooms, you can comfortably house an American football team in this wood and stone paradise. Outside the main home are several stone terraces, a pool, spa, outdoor kitchen, tennis court and magical secret-garden-style landscaping. A detached 7,000-square-foot five-bedroom “guesthouse” features Moroccan tiles, coffered ceilings and arched walkways.

The property was sold to funnyman Eddie Murphy in 1988, and switched hands again in 1994, going from a four-acre property to a 16-acre parcel fit for an equestrian fanatic, with five stables, two riding rings and a network of riding trails throughout the property.

Listed for: $85 million
Source: TopTenRealEstateDeals.com

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From:: Real Estate News

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Great Spaces: Cher’s Former Beverly Hills Mansion

By Susanne Dwyer

Want to walk the same halls as pop legend Cher and comedic hero Eddie Murphy? Now you can. Hidden in plain sight in Beverly Hills’ Benedict Canyon Drive is the 20,000-square-foot mega-mansion designed and decorated by Cher herself, and it’s hot on the market.

With 11 bedrooms and 17 bathrooms, you can comfortably house an American football team in this wood and stone paradise. Outside the main home are several stone terraces, a pool, spa, outdoor kitchen, tennis court and magical secret-garden-style landscaping. A detached 7,000-square-foot five-bedroom “guesthouse” features Moroccan tiles, coffered ceilings and arched walkways.

The property was sold to funnyman Eddie Murphy in 1988, and switched hands again in 1994, going from a four-acre property to a 16-acre parcel fit for an equestrian fanatic, with five stables, two riding rings and a network of riding trails throughout the property.

Listed for: $85 million
Source: TopTenRealEstateDeals.com

…read more

From:: Real Estate News

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Small Financial Institutions Outraged Over Wells

Just days after coming to figurative blows with each other, community banks and credit unions are now united in their outrage over Wells Fargo Bank, N.A.

On Thursday, the Consumer Financial Protection Bureau announced a settlement with the Wells Fargo & Co. subsidiary that included a $100 million penalty.

It was the biggest such penalty ever imposed by the CFPB and was in addition to another $85 million Well Fargo will pay to its bank regulator and a city attorney.

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From:: Financing

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Crispr Therapeutics files for $90 million IPO

Crispr Therapeutics AG plans to launch an initial public offering to raise up to $90 million, according to a late Friday filing with the Securities and Exchange Commission. Basel, Switzerland-based Crispr develops therapies based on its eponymous gene-editing technology. For the six months of 2016, the company reported collaboration revenue of $1.3 million and a loss of $4.66 a share. Crispr listed Citigroup, Piper Jaffray, Barclays, and Guggenheim Securities as underwriters. The company plans to list on the Nasdaq Global markets exchange under the ticker symbol “CRSP”.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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Wells Fargo fake accounts fiasco proves big banks don’t learn

For many people, their trust in the country’s financial system was broken (perhaps irreparably so) by the financial crisis. In the aftermath, the financial services industry needed to take steps to repair that broken trust. But the $185 million fine levied against Wells Fargo for opening up two million fake accounts shows that the financial industry still hasn’t learned its damn lesson. …read more

From:: Real Estate Wire

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Stop using Galaxy Note 7, feds say; Samsung working on U.S. recall

The U.S. Consumer Product Safety Commission warned Americans who own Samsung Electronics Co. Ltd.’s latest smartphone to stop using and charging the devices Friday, and said it was working with the Korean tech giant on a formal recall. Samsung admitted last week that the smartphone can explode due to faulty battery cells, with an official estimating that 24 out of every million produced were dangerous. The company, which launched the Note 7 on Aug. 19 and said it had shipped 2.5 million of the devices, launched a global recall program and offered trade-ins and gift cards to U.S. customers who had already received their Note 7, but the CPSC said that program may not be enough. “CPSC is working quickly to determine whether a replacement Galaxy Note7 is an acceptable remedy for Samsung or their phone carriers to provide to consumers,” the regulatory agency said in its statement. Samsung confirmed in a statement that it was working with the CPSC “to expedite a U.S. recall of the product.” “”Samsung continues to ensure that consumer safety remains our top priority,” Tim Baxter, president of Samsung Electronics America, said in a statement. “We are asking users to power down their Galaxy Note 7s and exchange them now.” The CPSC’s move comes after the Federal Aviation Administration warned people not to use or charge the devices on airplanes due to the danger of possible explosion, which has been an issue for lithium ion batteries in other consumer products.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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Mid America to Acquire Delinquent FHA Mortgages

Mid America Mortgage Inc. has revealed plans to begin acquiring delinquent loans that are insured by the Federal Housing Administration.

An announcement Tuesday from the Addison, Texas-based firm said it will purchase the loans as part of its whole-loan purchase program.

Mid America gained national attention when it began buying residential loans that don’t meet TILA-RESPA Integrated Disclosure requirements.

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From:: Financing

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Lumber Liquidators names new CFO

Lumber Liquidators Holdings Inc. said late Friday it has named Martin Agard its new chief financial officer. Interim CFO Greg Whirley will remain with the Toano, Va., company as senior vice president of finance, the company said in a statement. Lumber Liquidators also said Christopher Thomsen has joined as chief information officer. Lumber Liquidators was under fire last year when 60 Minutes reported the company allegedly sold China-made wood flooring containing dangerous levels of cancer-causing formaldehyde. A federal ruling in June indicated that a full recall of some China-made flooring wasn’t necessary, given none of the tests found formaldehyde levels above the remediation guideline. Lumber Liquidators shares were flat in late trading after ending the regular session down 2.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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Emerging markets suffer biggest drop since Brexit

Emerging-market equities logged their steepest drop since June 24, the day after Great Britain voted to leave the European Union in a referendum dubbed Brexit. The iShares MSCI Emerging Market ETF , the most widely used benchmark for the region, dropped 3.4% to 36.71 on Friday, its lowest level in more than a week. The move came amid heightened concerns that the Federal Reserve would raise interest rates sooner than later, which can boost the U.S. dollar and make debt denominated in the currency more expensive to emerging markets. The slump in emerging markets followed a rout in the S&P 500 index and the Dow Jones Industrial Average , which also suffered the sharpest slide since the Brexit vote

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News