The costs to the U.S. of China's currency policy might not be any greater than the benefits America gets from inexpensive Chinese exports, according to an article published by the Federal Reserve Bank of Richmond. "It is an open question how much demand we have lost to China's currency policy rather than, for example, China's rise as an efficient producer of consumer goods," the bank said.
Capital One announced it is acquiring multifamily originator Beech Street Capital. The deal will broaden Capital One's commercial real estate lending reach, giving it access to the GSE and FHA markets.
EBay has debuted a mobile application that will allow point-of-sale salesclerks in retail stores to use analytics to personalize customer interactions.
Aeropostale, Macy's, Toys R Us and Urban Outfitters say they will be deploying it in the near future.
The demand for multifamily buildings is growing, but the cost to construct them is rising because of a skilled labor shortage in some areas; a lack of capacity at building material suppliers and producers; and increased costs of financing, according to this article. In addition, the cost of lumber and other materials is increasing, according to Brian Turmail, a spokesman for the Associated General Contractors of America.