A Houston real estate firm is buying the Rivera apartment complex near Maverick Park. The Barvin Group, which also owns the Soap Factory apartments on Martin Street, plans to close on the property at 1130 Broadway later this month, said Susan Pohl, the firm’s director of acquisitions. “We think it’s a great location on Broadway,” she said. “There’s so much going on between there and the Pearl.” Pohl declined to disclose the purchase price, but the Bexar Appraisal District assessed the 302-unit complex at $55 million this year. The Rivera is owned by an entity affiliated with Austin-based Cypress Real Estate Advisors, property records show. John Burnham, who’s listed online as a managing principal at Cypress, declined to comment because the sale is pending. Texas Inc.: Get the best of business news sent directly to your inbox The apartment project previously was awarded city and county incentives and was completed in 2017. Bexar … [Read more...] about Houston firm plans to buy San Antonio’s Rivera apartment complex
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One of Latin America’s most valuable startups is changing the way Brazilians bank
By Julianne PepitoneCNN Business Updated 1307 GMT (2107 HKT) December 6, 2019 Chat with us in Facebook Messenger. Find out what's happening in the world as it unfolds. When David Vélez walked into a Brazilian bank branch to open an account six years ago, he was appalled by the experience. First, he had to check his bag in a locker outside. Next, he waited to pass through a security line manned by three armed guards. He sat there for 45 minutes and finally spoke to someone, who acted like they were doing him a favor by deigning to talk about opening an account. Then, he was sent off to make a phone call to bank employees elsewhere and was later forced to return to the bank a half-dozen times over the next four months. Vélez knew his experience was common throughout Latin America, where about half the population is "unbanked," with no bank accounts and often no credit histories. In Brazil, five banks control almost all of the market and charge high fees — with … [Read more...] about One of Latin America’s most valuable startups is changing the way Brazilians bank
Oil near $58 as traders await details on how OPEC+ shares cuts
A pump jack operates in an oil field, Tuesday, June 11, 2019, in the Permian Basin in Texas. (Jacob Ford/Odessa American via AP) A pump jack operates in an oil field, Tuesday, June 11, 2019, in the Permian Basin in Texas. (Jacob Ford/Odessa American via AP) Photo: Jacob Ford, MBI / Associated Press Photo: Jacob Ford, MBI / Associated Press Image 1 of / 1 Caption Close Image 1 of 1 A pump jack operates in an oil field, Tuesday, June 11, 2019, in the Permian Basin in Texas. (Jacob Ford/Odessa American via AP) A pump jack operates in an oil field, Tuesday, June 11, 2019, in the Permian Basin in Texas. (Jacob Ford/Odessa American via AP) Photo: Jacob Ford, MBI / Associated Press Oil near $58 as traders await details on how OPEC+ … [Read more...] about Oil near $58 as traders await details on how OPEC+ shares cuts
OPEC poised to cut production further to shore up prices
London (CNN London)OPEC and its allies have reportedly agreed to deepen its production cuts by 500,000 barrels per day in an attempt to support crude oil prices in the face of booming US output. But the cartel, which is led by Saudi Arabia, did not release details or hold a press conference following its meeting in Vienna on Thursday. OPEC meets with allied producers including Russia on Friday. The prospect of deeper cuts failed to wow investors, with crude prices posting only small gains on news reports that an agreement had been reached. That's mainly because Saudi Arabia is already pumping at below its quota while others flout the agreement. OPEC countries and allied producers have limited their production since 2017. The current deal removes 1.2 million barrels per day from world markets and is due to expire at the end of March. There is uncertainty over how much longer the coalition can stick together. "It remains unclear what would occur in [the second quarter of 2020], … [Read more...] about OPEC poised to cut production further to shore up prices
Heavy trucks are among California’s biggest polluters. Can the state make them go electric?
The black dust that caked Margaret Gordon’s Venetian blinds was the first bad omen. Her West Oakland neighborhood, criss-crossed by freeways and nestled close to a busy port, was gradually poisoning her lungs, she says. When Gordon moved to an affordable housing complex on 7th and Willow Streets in 1992, she could hear trucks rumbling by throughout the day, shipping goods from the port, crawling along the Interstate 880 underpass and rolling out of the post office parking lot. Gordon was diagnosed with asthma, as were her two grandchildren, who lived in the same building. Respiratory ailments were so widespread among children in the neighborhood that the nurse at Prescott Elementary School carried a shoebox full of inhalers. Two decades later, air pollution still looms near ports and freeways. The transportation sector accounts for 41% of greenhouse gas emissions in California, and 10% derives from heavy trucks, which comprise only 4% of all vehicles on the road. The California … [Read more...] about Heavy trucks are among California’s biggest polluters. Can the state make them go electric?
