Trump got a $21 million tax break for saving the forest outside his N.Y. mansion. Now the deal is under investigation.

The size of Trump’s tax windfall was set by a 2016 appraisal that valued Seven Springs at $56.5 million — more than double the value assessed by the three Westchester County towns that each contained a piece of the property.

The valuation has now become a focal point of what could be one of the most consequential investigations facing President Trump as he heads into the election.

New York Attorney General Letitia James (D) is investigating whether the Trump Organization improperly inflated the value of Seven Springs as part of the conservation easement on the property, according to filings in the case in August. The investigation also scrutinizes valuations, tax burdens and conservation easements at Trump’s holdings in Los Angeles, Chicago and New York City.

Trump’s son Eric, who now helps run the Trump Organization, sat for a deposition in the case Monday.

The Seven Springs appraisal, obtained by The

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Dirt: PMC Real Estate Brand Sets TV Series Deal With Anvil 1893

PMC real estate brand Dirt has partnered with producer Eric Schotz to develop an unscripted TV series based on the digital platform’s coverage of celebrity homes and real estate transactions.

The deal calls for Schotz’s Anvil 1893 production banner to work with Dirt writers and editors Mark David and James McClain on a program that looks at celebrity digs, from childhood homes to remote hideaways of the rich and famous. Schotz, David and McClain will serve as executive producers.

“There’s a natural curiosity about where certain people live and how they live that’s been with us since the first tours of movie stars’ houses started in 1935,” said Schotz. “Dirt makes that virtual ‘open house’ alluring and compelling every single week, and we see tremendous opportunity in harnessing the power of the brand. We’re excited to take audiences to some extraordinary and evocative homes and lifestyles they wouldn’t normally see.”

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Is TikTok For Sale? New Oracle Deal Confirmed

TikTok is reported to not be for sale, neither to Microsoft or to Oracle. Chinese regulatory issues may block any sale that includes TikTok’s technology. Yet Oracle did confirm today that a deal is happening.

Oracle has confirmed that comments by Treasury Secretary Mnuchin that  deal between Oracle and TikTok is being worked out.

According to a press release:

“Oracle confirms Secretary Mnuchin’s statement that it is part of the proposal submitted by ByteDance to the Treasury Department over the weekend in which Oracle will serve as the trusted technology provider.  Oracle has a 40-year track record providing secure, highly performant technology solutions.”

The report on an Oracle deal is that Oracle will be in charge of TikTok’s U.S. data.

But another report from China says no outright sale is happening.

TikTok Will Not Sell

According to reports from the China Global Television Network, unnamed sources confirmed that TikTok will

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Leading off for Mets new owner Steve Cohen: a deal to buy SNY

Billionaire hedge fund manager Steve Cohen, who closed on a deal to buy the New York Mets on Monday, has one more item on his shopping list: SNY, the cable television home of the franchise.

Fox Business Network’s Charles Gasparino reports “discussions about his possible purchase of @SNYtv will likely occur after the owners vote in November.”

Introducing Yankees Insider: Get exclusive news, behind-the-scenes observations and the ability to text message directly with beat writers

Sportico, which first broke the news that Cohen closed on the Mets, reports his purchase of the club did not include the TV network.

While financial terms of the agreement haven’t been disclosed, two people with knowledge of the deal have said the sale values the team at about $2.42 billion. That would make it the most paid for an MLB franchise, topping the $2.15 billion paid for the Los Angeles Dodgers and surrounding real

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These 2 Stocks Are the Real (Estate) Deal

Right now, the mortgage banking sector is red hot. It’s experiencing its best year since the salad days of the real estate bubble about 15 years ago, with the Mortgage Bankers Association predicting $3 trillion in mortgage origination volume in 2020.



a close up of a keyboard: These 2 Stocks Are the Real (Estate) Deal


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These 2 Stocks Are the Real (Estate) Deal

At the same time, we are seeing mortgage companies go public, with Rocket Companies (NYSE: RKT), the parent of Quicken Loans, doing so recently, and now crosstown rival United Wholesale Mortgage going public via a potential merger with a special purpose acquisition company (SPAC) called Gores Holdings IV (NASDAQ: GHIV).

Are you an investor interested in getting in on the mortgage banking sector’s current popularity? Here are two mortgage originators that are indeed the real deal and worth further investigation. 



a close up of a keyboard: Picture of money, a calculator and a house


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Picture of money, a calculator and a house

1. Rocket

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Inter Pipeline signs deal to sell majority of European storage business

CALGARY – A year after putting its European bulk liquid storage business on the block, Inter Pipeline Ltd. has signed a deal to sell most of it to the Madrid-based CLH Group for $715 million.

The sale includes all of the Calgary-based company’s bulk liquid storage and handling assets in the United Kingdom, Ireland, the Netherlands and Germany.

“Monetizing a significant portion of our European asset base enables us to focus resources on developing our higher growth Canadian businesses,” Inter CEO Christian Bayle said in a news release Tuesday.

“As such, proceeds from the sale will be used to reduce debt, strengthen our balance sheet and assist with financing our large capital expenditure program, including the Heartland Petrochemical Complex.”

CLH chairman Jose Luis Lopez de Silanes said the deal will make the company the industry leader in Europe with operations in eight countries.

“This agreement represents a unique opportunity to

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Boston Scientific, Farapulse Sign Deal for Treatment of AF

Boston Scientific Corporation BSX signed an investment agreement with an exclusive option to acquire Farapulse, Inc, a privately-held company developing a pulsed field ablation (“PFA”) system. The agreement has been signed to enhance the treatment of atrial fibrillation (“AF”) and other cardiac arrhythmias.

The Farapulse platform, which is an investigational device not available for sale, uses an ablation method based on pulsed electric fields (also known as irreversible electroporation) to regularize the electrical signals and prevent AF.

For investors’ note, Farapulse is pursuing regulatory approval in the United States and CE Mark approval in Europe. It has also received the FDA’s Breakthrough Designation for its endocardial ablation system in May 2019.

With the latest agreement, Boston Scientific aims to strengthen its position in the Electrophysiology business on a global scale. Notably, the Electrophysiology business is a component of the company’s broader Rhythm and Neuro arm.

Rationale Behind the Agreement

AF

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TikTok Pushes Back on Trump in Court While Angling for Deal

(Bloomberg) — TikTok’s Chinese owner asked a federal judge to stop President Donald Trump from enforcing a ban that would remove the viral video-sharing network from U.S. app stores this weekend.



a hand holding a cellphone: The TikTok logo is displayed in the app store in this arranged photograph in view of a video feed of U.S. President Donald Trump in London, U.K., on Monday, Aug. 3, 2020. TikTok has become a flash point among rising U.S.-China tensions in recent months as U.S. politicians raised concerns that parent company ByteDance Ltd. could be compelled to hand over American users data to Beijing or use the app to influence the 165 million Americans, and more than 2 billion users globally, who have downloaded it.


© Photographer: Bloomberg/Bloomberg
The TikTok logo is displayed in the app store in this arranged photograph in view of a video feed of U.S. President Donald Trump in London, U.K., on Monday, Aug. 3, 2020. TikTok has become a flash point among rising U.S.-China tensions in recent months as U.S. politicians raised concerns that parent company ByteDance Ltd. could be compelled to hand over American users data to Beijing or use the app to influence the 165 million Americans, and more than 2 billion users globally, who have downloaded it.

ByteDance Ltd. filed on Wednesday for a temporary block on the ban even as it continues to pursue approvals from the Trump administration for a sale of its U.S.

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TikTok’s owner applies for Chinese license to close US deal

President Donald Trump said this week he would approve a proposed deal in which Oracle Corp. and Walmart Inc. could initially own a combined 20% of a new U.S. entity, TikTok Global. Trump said Oracle must have “total control.”

ByteDance said it applied to the Beijing Municipal Bureau of Commerce for an export license and was awaiting a reply. The one-sentence statement gave no other details.

Chinese authorities have not indicated whether they will agree to a transfer of technology. But official newspapers criticized the proposed deal this week as bullying and extortion.

“China has no reason to give the green light to such a deal, which is dirty and unfair,” said the newspaper China Daily on Wednesday.

On Thursday, the foreign ministry said China will “take necessary measures” to safeguard its companies but gave no indication what steps it can take to affect TikTok’s fate in the United States.

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