Jane Street Signs Hong Kong Central's Biggest Lease in Decades
Jane Street Group has signed for six floors in an upcoming tower developed by Henderson Land Development Co. in Hong Kong's central business district, marking the biggest office deal in the area in decades.
The quantitative trading firm will occupy 223,437 square feet (20,758 square meters) in Henderson's Site 3 project on the waterfront of Victoria Harbour, the developer said in a statement on Friday. The lease will be five years, commencing from Jan. 1, 2028.
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Dreaming of a lakeside cottage but can't afford it? Co-ownership could open that door
A lakeview cottage with cosy rooms, a sandy beach nearby and a dock to gaze into the sunset was the dream for Corrine Evanoff. "For years, I've been on this journey of trying to find a cottage that would work for us," she said. But Evanoff and her husband didn't want to incur the burden of constant cottage maintenance — spending vacation days fixing decks and pruning trees. They opted instead to rent over the years, still hoping to one day buy. Then, it happened. They found a cottage not too far from home — for a fraction of the price they thought they'd have to pay, thanks to fractional ownership. Also called co-ownership, it allows people to buy a share of a property with others, whether it's family, friends or even strangers. Affordability sits at the heart of fractionally owned cottages. Many Canadians still find themselves priced out of the market, even as cottage prices have declined from peaks seen during the pandemic. Re/Max brokers and agents anticipate a national average price increase of about 1.8 per cent across the Canadian recreational market in 2025, a May report by the real estate firm, showed. On their first visit to check out a prospective cottage last fall, Evanoff recalled walking into a lake-facing cottage with large windows at Frontenac Shores in Cloyne, Ont., about 300 kilometres northeast of Toronto, and was sold. "We sat in these Muskoka chairs on the beach and our feet are in the water, and I just felt the stress shredding off me," she said. "This is the dream that I've been dreaming for all these years … and this is within reach." Evanoff and her husband now own one-tenth of a million-dollar cottage, costing them less than $100,000 for their share — and affording them five weeks a year at the property. Fractional ownership of a cottage is not like a timeshare, said Realtor Mike Lange, who has been dealing with co-owned cottages for about seven years in Kawartha Lakes, Ont. "With a timeshare, you put your name in requesting a location, you have no guarantee that that's going to be available," he said. "There's been a lot of heartaches over them over the years." Timeshare properties can be owned by for-profit corporations, leaving less autonomy for those staying there. Don Smith, who co-owns a property in Kawartha Lakes, bought into a cottage in the mid-2000s after he saw a newspaper ad about fractional cottage ownership. "I was in the staff room reading the newspaper as a mathematics and computer studies teacher," he recalled. "As a math teacher, that caught my eye: What's this fraction all about, this cottage, this idea?" For the Smiths, fractional ownership wasn't a financial investment but a lifestyle investment that has paid off over the past two decades. "This is where my daughter learned to swim, that's where my daughter learned to kayak, that is when my daughter had learned to appreciate animals." But it may not be for everyone. Smith said fractionally owned cottages are usually 100 per cent debt-free. That means new co-owners typically can't secure a mortgage against the property from traditional banks and will have to rely on personal loans or a line of credit to buy their share. Personal touches to the cottage can also be missing with fractional ownership and people can't just show up at any time, he said. "It's not like you can personally put all your favourite pictures and put all of the junk that you don't want in your home garage and take it up there and leave it," Smith said. Real estate developer John Puffer has years of experience building cottages and selling them in fractional ownership arrangements in Ontario's cottage country regions. When he first got into the business, Puffer assumed the buyers would mostly be people in their 30s with young families. Instead, they happened to be people in their 50s and 60s, buying cottage shares for their adult children and grandchildren, or people who don't want to commit the dollars and worry about maintenance. "That is part of the Canadian cottage experience in Ontario … that's where families congregate at the cottage and (it's) multi-generations," said Puffer, president of Chandler Point Corp. Tanya Walker, litigation lawyer and managing partner at Walker Law, suggests potential buyers should get a good contract lawyer and treat the contract "as if it's a pre-nuptial agreement" before signing on to be a co-owner. She said buyers going into fractional ownership should ask questions about who the other co-owners are, the voting rights people get for their share and what happens when they want to sell their stake. Walker added it's also important to look into who manages the property, the financials of the property as well as how much time you'll get to use the cottage and when. Puffer said people really have to understand what they're buying into. He suggested people read the contract and find out who's in control, what their obligations are, and talk to people who already own. For Evanoff and her husband, it will be their third time heading up to the Frontenac Shores cottage next month. "It's like, wow! That just seems like a gift," she said. "This (fractional ownership) seems like the best-kept secret but I think it's going to catch on ... and you're going to see a lot of people tap into this market." This report by The Canadian Press was first published June 15, 2025. Ritika Dubey, The Canadian Press Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Mortgage and refinance interest rates today, June 15, 2025: A fractional move higher
Mortgage rates are a notch higher today. According to Zillow, the average 30-year fixed interest rate ticked up one basis point to 6.73%, while the 15-year fixed rate gained four basis points to 6.00%. The Mortgage Bankers Association's latest forecast is for 30-year rates to remain mostly unchanged and near 6.7% through September, ending the year close to 6.6%. In other words, not changing much. However, increasing international tensions might impact that prediction. Regardless, if you're looking to buy in 2025, you'll want to work to earn the lowest mortgage rate you deserve. Dig deeper: 6 steps to choosing the right mortgage lender Have questions about buying, owning, or selling a house? Submit your question to Yahoo's panel of Realtors using this Google form. Here are the current mortgage rates, according to the latest Zillow data: 30-year fixed: 6.73% 20-year fixed: 6.52% 15-year fixed: 6.00% 5/1 ARM: 6.96% 7/1 ARM: 7.40% 30-year VA: 6.36% 15-year VA: 5.76% 5/1 VA: 6.36% Remember, these are the national averages and rounded to the nearest hundredth. These are today's mortgage refinance rates, according to the latest Zillow data: 30-year fixed: 6.81% 20-year fixed: 6.28% 15-year fixed: 6.02% 5/1 ARM: 7.32% 7/1 ARM: 7.13% 30-year VA: 6.35% 15-year VA: 5.94% 5/1 VA: 6.18% Again, the numbers provided are national averages rounded to the nearest hundredth. Mortgage refinance rates are often higher than rates when you buy a house, although that's not always the case. Read more: Is now a good time to refinance your mortgage? Use the mortgage calculator below to see how various mortgage terms and interest rates will impact your monthly payments. Our free mortgage calculator also considers factors like property taxes and homeowners insurance when determining your estimated monthly mortgage payment. This gives you a more realistic idea of your total monthly payment than if you just looked at mortgage principal and interest. The average 30-year mortgage rate today is 6.73%. A 30-year term is the most popular type of mortgage because by spreading out your payments over 360 months, your monthly payment is lower than with a shorter-term loan. The average 15-year mortgage rate is 6.00% today. When deciding between a 15-year and a 30-year mortgage, consider your short-term versus long-term goals. A 15-year mortgage comes with a lower interest rate than a 30-year term. This is great in the long run because you'll pay off your loan 15 years sooner, and that's 15 fewer years for interest to accumulate. But the trade-off is that your monthly payment will be higher as you pay off the same amount in half the time. Let's say you get a $300,000 mortgage. With a 30-year term and a 6.73% rate, your monthly payment toward the principal and interest would be about $1,942, and you'd pay $399,051 in interest over the life of your loan — on top of that original $300,000. If you get that same $300,000 mortgage with a 15-year term and a 6.00% rate, your monthly payment would jump to $2,532. But you'd only pay $155,683 in interest over the years. With a fixed-rate mortgage, your rate is locked in for the entire life of your loan. You will get a new rate if you refinance your mortgage, though. An adjustable-rate mortgage keeps your rate the same for a predetermined period of time. Then, the rate will go up or down depending on several factors, such as the economy and the maximum amount your rate can change according to your contract. For example, with a 7/1 ARM, your rate would be locked in for the first seven years, then change every year for the remaining 23 years of your term. Adjustable rates typically start lower than fixed rates, but once the initial rate-lock period ends, it's possible your rate will go up. Lately, though, some fixed rates have been starting lower than adjustable rates. Talk to your lender about its rates before choosing one or the other. Dig deeper: Fixed-rate vs. adjustable-rate mortgages Mortgage lenders typically give the lowest mortgage rates to people with higher down payments, great or excellent credit scores, and low debt-to-income ratios. So, if you want a lower rate, try saving more, improving your credit score, or paying down some debt before you start shopping for homes. Waiting for rates to drop probably isn't the best method to get the lowest mortgage rate right now. If you're ready to buy, focusing on your personal finances is probably the best way to lower your rate. To find the best mortgage lender for your situation, apply for mortgage preapproval with three or four companies. Just be sure to apply to all of them within a short time frame — doing so will give you the most accurate comparisons and have less of an impact on your credit score. When choosing a lender, don't just compare interest rates. Look at the mortgage annual percentage rate (APR) — this factors in the interest rate, any discount points, and fees. The APR, which is also expressed as a percentage, reflects the true annual cost of borrowing money. This is probably the most important number to look at when comparing mortgage lenders. Learn more: Best mortgage lenders for first-time home buyers According to Zillow, the national average 30-year mortgage rate is 6.73%, and the average 15-year mortgage rate is 6.00%. But these are national averages, so the average in your area could be different. Averages are typically higher in expensive parts of the U.S. and lower in less expensive areas. The average 30-year fixed mortgage rate is 6.73% right now, according to Zillow. However, you might get an even better rate with an excellent credit score, sizable down payment, and low debt-to-income ratio (DTI). Mortgage rates aren't expected to drop drastically in the near future, though they may inch down now and then.
Yahoo
3 hours ago
- Yahoo
Hong Kong startup targets lithium battery waste with AI-powered recycling system
Lithium battery waste is piling up, and a Hong Kong-based startup is showing the world how to clean it up smartly. Achelous Pure Metals has developed a portable, eco-friendly recycling system designed to process used lithium-ion batteries right in urban centers, according to a report on SCMP. The five-year-old company has built a robot-assisted pilot line that can sort, shred, and filter materials from non-electric vehicle (EV) batteries. The process includes vacuum and heat treatment to safely extract hazardous substances like epoxy adhesives and fluorine gases. Another pilot system, which uses nanoparticle-based separation, helps isolate and refine critical metals like lithium, cobalt, and nickel from the so-called 'black mass'—a powdery residue left after crushing batteries. The firm's goal is to bring scalable and movable recycling to cities, starting with Hong Kong and eventually expanding across Southeast Asia. 'Our goal is to tackle the growing problem of discarded lithium-ion batteries by bringing scalable, movable, eco-friendly recycling to urban centres starting in Hong Kong, with plans to expand to [Southeast] Asia,' Alan Wong Yuk-chun, co-founder and technical director of the startup told SCMP. While the startup has deployed its technology at a client facility in Jiangsu province that can process up to 10,000 tonnes of battery waste annually, it's facing hurd+6les. A surge in China's recycling capacity has led to a scramble for black mass, while the prices of end products have been falling rapidly. 'Our client's factory has to compete for black mass at higher and higher prices, while the prices of end-products like lithium carbonate keep falling amid oversupply,' said Shawn Cheng, the company's co-founder and R&D director. Battery-grade lithium carbonate, once dubbed 'white gold,' dropped nearly 90 percent in price—from 568,000 yuan in November 2022 to just 60,600 yuan per tonne in May 2024, according to Daiwa Capital Markets. Global lithium oversupply is expected to peak by 2027 before swinging into a deficit early next decade, forecasts UK-based consultancy Wood Mackenzie. In response, the Hong Kong Science and Technology Park-based startup is pivoting. It's building out its Hong Kong operation and helping companies across Southeast Asia establish 'micro-factories' that can turn discarded batteries into black mass for export to China. The company is also in talks with local firms to recycle lithium batteries from security transceivers, and exploring opportunities in Malaysia and Singapore for e-waste recovery. 'We want to help [our] partners meet their future recycled content obligations and set up a system to keep track of the materials' footprint for compliance,' Cheng said. The world is staring at a mounting e-waste crisis. In 2022 alone, about 62 million tonnes of electronic waste were generated globally—enough to circle the planet in bumper-to-bumper tractor-trailers, according to a 2024 UN report. That figure is projected to hit 82 million tonnes by 2030, with metals such as copper, gold, and iron making up nearly half the total, valued at an estimated $91 billion. Yet just 22 percent of this waste was properly collected and recycled in 2022, and that figure is expected to drop even further by the decade's end. The UN attributes this to ballooning consumption, limited repair options, shorter product lifespans, and inadequate recycling infrastructure. In response, governments are tightening the screws. New EU regulations mandate lithium recovery rates of 50 percent by 2027 and 80 percent by 2031, with recovery targets for metals like cobalt, copper, and nickel climbing as high as 95 percent.
