Category: 3. Business

Home values in B.C.’s Lower Mainland are decreasing, and pricey properties are not immune.

The province’s top 10 most expensive residential properties, including ritzy mansions replete with pools and tennis courts and a private island acreage with a golf course, all fell in value in this year’s list.

Most of those homes are located in the Lower Mainland: eight are in Vancouver, one on the West Vancouver waterfront, and one a private Gulf Island.

B.C. Assessment, the Crown corporation that appraises properties, announced the 2026 property assessments in a news release Friday.

The assessments reflect market values as of July 1, 2025.

Notices will be mailed to property owners, and members of the public can also look up assessments on the B.C. Assessment website.

Top 3 most expensive B.C. properties in 2025

1. The Kitsilano abode of Lululemon founder Chip Wilson at 3085 Point Grey Rd., which has topped the list of the province’s most valuable homes since 2014, was assessed at $73,457,000 for 2025.

The seven-bedroom, nine-bathroom home decreased in value by 11 per cent over last year’s $82,664,000 assessment.

2. A 10-bedroom, 16-bathroom home at 4707 Belmont Ave. in Vancouver’s Point Grey neighbourhood has been valued at $69,878,000.

The home, overlooking Vancouver’s stunning Spanish Banks, decreased in value by 2.59 per cent.

3. Assessed at $57,096,000, James Island, a 311-hectare private island about a kilometre east of the Saanich Peninsula, is the third most valuable property in the province.

Previous real estate estate listings for the island showed the property includes a Jack Nicklaus-designed golf course, white sand beaches and six cottages.

The acreage fell in value by 0.75 per cent — or $430,000.

B.C.’s three most valuable properties have remained unchanged in ranking since at least 2017.

Top values outside of the Lower Mainland

Aside from James Island, the top valued property outside of the Lower Mainland was an acreage in Nanoose Bay on Vancouver Island, about 20 kilometres northwest of Nanaimo. 1365 Dorcas Point Rd. was valued at $20,573,000, making it the 75th most expensive home in all of B.C.

The most expensive property in B.C.’s North was a $4,703,000 acreage at 6653 Lakeshore Dr. in the Peace River region, about 220 kilometres northeast of Prince George.

And in the Southern Interior, the priciest property was a single-family home valued at $14,771,000 in the District of Lake Country at 12990 Pixton Rd. It ranked No. 239 on B.C.’s list of 500 top valued homes.

Values decrease in Lower Mainland, vary elsewhere

B.C. Assessment said many homeowners in the Lower Mainland can expect some decreases in assessed value, ranging between -10 per cent to zero per cent, according to assessor Bryan Murao.

There are fewer changes and flatter values on Vancouver Island and in the Southern Interior, from -5 per cent to +5 per cent, while assessments in the North and the Kootenays can vary from -5 per cent to +15 per cent, Murao said in the release.

B.C. Assessment appraised more than 2.2 million homes in 2025, about a one per cent increase from 2025, with the value totalling $2.75 trillion, a decrease of almost 2.5 per cent from last year.

Hasan Juma, a real estate agent with Oakwyn Realty, said in an interview that he had spoken to a number of homeowners already who were experiencing sticker shock, having seen their assessed value decrease.

He said the drop in average values in the Lower Mainland was expected among those in the real estate world, given analysts have said for months that it is a buyer’s market.

“It’s possible the gap gets larger between what a buyer is willing to pay and, you know, what a seller is willing to accept,” Juma said.

HOUSTON, Jan. 2, 2026 /PRNewswire/ — Prosperity Bancshares, Inc.® (“Prosperity”) (NYSE: PB), the parent company of Prosperity Bank®, today announced the completion of the merger of American Bank Holding Corporation. (“American”) with and into Prosperity and the merger of American’s wholly owned subsidiary, American Bank, N.A. (“American Bank”), headquartered in Corpus Christi, Texas, with and into Prosperity Bank, all effective on January 1, 2026.

Under the terms of the merger agreement between Prosperity and American, Prosperity issued 4,439,981 shares of Prosperity common stock to the former shareholders and award holders of American.

Stephen Raffaele, former Director and President of American and CEO and former President of American Bank, has joined Prosperity Bank as South Texas and San Antonio Area Chairman and Ben Wallace, former American Bank Chairman, has joined Prosperity Bank as South Texas Senior Chairman. Additional members of American Bank management will maintain leadership roles in the combined organization. In addition, Mr. Raffaele and Patt Hawn Wallace, former Chair of American and a former Director of American Bank, have joined the Board of Directors of Prosperity Bank.

American Bank operated eighteen (18) banking offices and two (2) loan production offices in South and Central Texas including its main office in Corpus Christi, and banking offices in San Antonio, Austin, Victoria and the greater Corpus Christi area including Port Aransas and Rockport and a loan production office in Houston, Texas. American Bank banking locations will continue to operate under the American Bank name until the operational integration, which is scheduled for September 2026. At that time, American Bank customers may begin using any of Prosperity Bank’s full service banking centers.

About Prosperity Bancshares, Inc. ^®

As of September 30, 2025, Prosperity Bancshares, Inc.® is a $38.330 billion Houston, Texas based regional financial holding company providing personal banking services and investments to consumers and businesses throughout Texas and Oklahoma. Founded in 1983, Prosperity believes in a community banking philosophy, taking care of customers, businesses and communities in the areas it serves by providing financial solutions to simplify everyday financial needs. In addition to offering traditional deposit and loan products, Prosperity offers digital banking solutions, credit and debit cards, mortgage services, retail brokerage services, trust and wealth management, and treasury management.

As of September 30, 2025, Prosperity operated 283 full-service banking locations: 62 in the Houston area, including The Woodlands; 33 in the South Texas area including Corpus Christi and Victoria; 61 in the Dallas/Fort Worth area; 22 in the East Texas area; 31 in the Central Texas area including Austin and San Antonio; 45 in the West Texas area including Lubbock, Midland-Odessa, Abilene, Amarillo and Wichita Falls; 15 in the Bryan/College Station area; 6 in the Central Oklahoma area; and 8 in the Tulsa, Oklahoma area.

Cautionary Notes on Forward-Looking Statements 

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. From time to time, oral or written forward-looking statements may also be included in information released to the public. Such forward-looking statements are typically, but not exclusively, identified by the use in the statements of words or phrases such as “aim,” “anticipate,” “believe,” “estimate,” “expect,” “goal,” “guidance,” “intend,” “is anticipated,” “is expected,” “is intended,” “objective,” “plan,” “projected,” “projection,” “will affect,” “will be,” “will continue,” “will decrease,” “will grow,” “will impact,” “will increase,” “will incur,” “will reduce,” “will remain,” “will result,” “would be,” variations of such words or phrases (including where the word “could,” “may,” or “would” is used rather than the word “will” in a phrase) and similar words and phrases indicating that the statement addresses some future result, occurrence, plan or objective. Forward-looking statements include all statements other than statements of historical fact, including forecasts or trends, and are based on current expectations, assumptions, estimates and projections about Prosperity Bancshares and its subsidiaries. These forward-looking statements may include information about Prosperity’s possible or assumed future economic performance or future results of operations, including future revenues, income, expenses, provision for loan losses, provision for taxes, effective tax rate, earnings per share and cash flows and Prosperity’s future capital expenditures and dividends, future financial condition and changes therein, including changes in Prosperity’s loan portfolio and allowance for loan losses, changes in deposits, borrowings and the investment securities portfolio, future capital structure or changes therein, as well as the plans and objectives of management for Prosperity’s future operations, future or proposed acquisitions, including the integration of American, the future or expected effect of acquisitions on Prosperity’s operations, results of operations, financial condition, and future economic performance, statements about the anticipated benefits of each of the proposed transactions, and statements about the assumptions underlying any such statement. These forward‑looking statements are not guarantees of future performance and are based on expectations and assumptions Prosperity currently believes to be valid. Because forward-looking statements relate to future results and occurrences, many of which are outside of Prosperity’s control, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. These risks and uncertainties include, but are not limited to whether Prosperity can: successfully identify acquisition targets and integrate the businesses of acquired companies and banks, including American; continue to sustain its current internal growth rate or total growth rate; provide products and services that appeal to its customers; continue to have access to debt and equity capital markets; and achieve its sales objectives. Other risks include, but are not limited to: the possibility that credit quality could deteriorate; actions of competitors; changes in laws and regulations (including changes in governmental interpretations of regulations and changes in accounting standards); the possibility that the anticipated benefits of an acquisition transaction, including American, are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of American or as a result of the strength of the economy and competitive factors generally; a deterioration or downgrade in the credit quality and credit agency ratings of the securities in Prosperity’s securities portfolio; customer and consumer demand, including customer and consumer response to marketing; effectiveness of spending, investments or programs; fluctuations in the cost and availability of supply chain resources; economic conditions, including currency rate, interest rate and commodity price fluctuations; and weather. Prosperity disclaims any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. These and various other factors are discussed in Prosperity’s Annual Report on Form 10-K for the year ended December 31, 2024, and other reports and statements Prosperity has filed with the Securities and Exchange Commission (“SEC”). Copies of the SEC filings for Prosperity may be downloaded from the Internet at no charge from http://www.prosperitybankusa.com.

SOURCE Prosperity Bancshares, Inc.

ORDER

By the authority vested in me as President by the Constitution and the laws of the United States of America, including section 721 of the Defense Production Act of 1950, as amended (section 721), 50 U.S.C. 4565, it is hereby ordered:

Section 1.  Findings.  (a)  There is credible evidence that leads me to believe that HieFo Corporation, a company organized under the laws of Delaware (HieFo) and controlled by a citizen of the People’s Republic of China, through the acquisition of the assets comprising the digital chips and related wafer design, fabrication, and processing businesses of EMCORE Corporation, a New Jersey corporation (Emcore Assets), which acquisition completed on April 30, 2024 (such acquisition, the Transaction), might take action that threatens to impair the national security of the United States; and

(b)  Provisions of law, other than section 721 and the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), do not, in my judgment, provide adequate and appropriate authority for me to protect the national security in this matter.

Sec. 2.  Actions Ordered and Authorized.  On the basis of the findings set forth in section 1 of this order, considering the factors described in subsection (f) of section 721, as appropriate, and pursuant to my authority under applicable law, including section 721, I hereby order that:

(a)  The Transaction is hereby prohibited, and ownership by HieFo of any interest or rights in any of the Emcore Assets, whether effected directly or indirectly through HieFo, or through HieFo’s partners, subsidiaries, affiliates, or foreign person shareholders (collectively, Affiliates), is also prohibited.  For the purposes of sections 2(a), 2(b), and 2(c) of this order, the United States nationals on HieFo’s Board of Directors as of November 26, 2025, are not considered Affiliates of HieFo.

(b)  To effectuate this order, not later than 180 calendar days after the date of this order, unless such date is extended by the Committee on Foreign Investment in the United States (CFIUS), HieFo shall, and shall ensure that its Affiliates, divest all interests and rights in the Emcore Assets, wherever located, including contracts, inventory, tangible property, parts, fixed assets, accounts receivable, permits, real property leased or owned by EMCORE Corporation, and intellectual property.  All actions by CFIUS referenced in this order may be conducted by the agencies designated by its Staff Chairperson and all obligations on HieFo or EMCORE Corporation are subject to any extensions of time, conditions, or exceptions as such CFIUS agencies determine are appropriate and will not impair the national security of the United States.

(c)  Immediately from the date of this order until such time as the divestment set forth in subsection (b) of this section (the Divestment) has been completed and verified to the satisfaction of CFIUS and CFIUS has communicated in writing to HieFo that the Divestment is complete, HieFo shall not, and shall ensure that its personnel does not, grant any access to the Emcore Assets or any non-public technical information, information technology systems, products, parts and components, books and records, or facilities in the United States of the Emcore Assets to any persons who are not personnel of HieFo, unless otherwise approved in writing by CFIUS.  Not later than 7 calendar days after the date of this order, or after notification from CFIUS, as applicable, HieFo shall put in place and maintain any measures or controls deemed necessary by CFIUS to ensure that the access prohibited under this subsection does not occur.

(d)  Until the Divestment has been completed and verified to the satisfaction of CFIUS and CFIUS has communicated in writing to HieFo that the Divestment is complete, unless otherwise approved in writing by CFIUS, HieFo shall not, and shall ensure that its Affiliates do not, dissolve, reorganize, or transfer any interest or rights in any of the Emcore Assets, or otherwise change its or their legal structure or relocate, transfer, or sell any physical, intangible, or financial assets in a manner that would materially impede or prevent HieFo or its Affiliates from complying with this order as determined by CFIUS. 

(e)  At any time prior to or upon CFIUS communicating in writing to HieFo that the Divestment is complete, CFIUS is authorized to require auditing of HieFo, at no expense to CFIUS, on terms it deems appropriate in order to ensure compliance with this order and any conditions imposed by CFIUS.

(f)  Immediately upon Divestment:

(i)   HieFo shall certify in writing to CFIUS that all steps necessary to fully and permanently effectuate the requirements of subsections (a) and (b) of this section, including any conditions imposed by CFIUS pursuant to subsections (b) and (l) of this section, have been completed in accordance with this order; and

(ii)  HieFo shall certify in writing to CFIUS that, as part of the Divestment, HieFo and its Affiliates have destroyed or transferred all intellectual property associated with the Emcore Assets in their possession or control, including copies thereof, that HieFo and its Affiliates are required to divest pursuant to subsection (b) of this section.  CFIUS is authorized to require auditing of HieFo and its Affiliates, at no expense to CFIUS, on terms CFIUS deems appropriate in order to ensure that such destruction or transfer of intellectual property is complete.

(g)  HieFo shall not, and shall ensure that its Affiliates do not, complete a sale or transfer under this order to any third party:

(i)   until HieFo notifies CFIUS in writing of the intended buyer or transferee; and

(ii)  unless 30 calendar days have passed from the notification in subsection (g)(i) of this section and CFIUS has not issued an objection to HieFo.  Among the factors CFIUS may consider in reviewing the proposed sale or transfer are whether the buyer or transferee is a United States citizen or is owned by United States citizens; has or has had a direct or indirect contractual, financial, familial, employment, or other close and continuous relationship with HieFo or its Affiliates, or officers or employees of HieFo or its Affiliates; and can demonstrate a willingness and ability to support compliance with this order and any conditions imposed by CFIUS.  In addition, CFIUS may consider whether the proposed sale or transfer would threaten to impair the national security of the United States or undermine the purpose of this order, and whether the sale effectuates, to CFIUS’s satisfaction and in its discretion, the Divestment. 

(h)  From the date of this order until HieFo provides a certification of the Divestment to CFIUS pursuant to subsection (f) of this section, HieFo shall certify to CFIUS on a weekly basis that it and its Affiliates are in compliance with this order and any conditions imposed by CFIUS and shall include a description of efforts to effectuate the Divestment and a timeline for projected completion of remaining actions.

(i)  Any transaction or other instrument entered into or method employed for the purpose of, or with the effect of, evading or circumventing this order is prohibited.

(j)  Without limitation on the exercise of authority by any agency under other provisions of law, CFIUS is authorized to implement measures it deems necessary and appropriate to verify and enforce compliance with this order and any conditions imposed by CFIUS.  For purposes of verifying and enforcing compliance with this order and any conditions imposed by CFIUS, HieFo shall permit employees of the United States Government as designated by CFIUS access, on reasonable notice to HieFo, to all premises and facilities of HieFo and its Affiliates located in the United States, including those of the Emcore Assets:

(i)    to inspect and copy any books, ledgers, accounts, correspondence, memoranda, and other records and documents in the possession or under the control of HieFo or its Affiliates that concern any matter relating to this order;

(ii)   to inspect or audit any information systems, networks, hardware, software, data, records, communications, or property in the possession or under the control of HieFo or its Affiliates that concern any matter relating to this order; and

(iii)  to interview officers, employees, or agents of HieFo, or its Affiliates, concerning any matter relating to this order.

(k)  CFIUS shall conclude its verification procedures pursuant to subsection (j) of this section within 90 calendar days after the certification of the Divestment is provided to CFIUS pursuant to subsection (f) of this section and shall communicate in writing to HieFo when it has found that the Divestment is complete.

(l)  Without limitation on the exercise of authority by any agency under other provisions of law, and until such time as the Divestment is completed and verified to the satisfaction of CFIUS, CFIUS is further authorized to impose conditions or implement measures in connection with this order, the Divestment, and the Transaction as it deems necessary and appropriate to mitigate risk to the national security of the United States arising from the Transaction, including measures available to it under section 721 and its implementing regulations, which include the remedies available for violations of any order, agreement, or condition entered into or imposed under section 721.

(m)  If any provision of this order, or the application of any provision to any person or circumstances, is held by a court of competent jurisdiction to be invalid, the remainder of this order and the application of its other provisions to any persons or circumstances shall not be affected thereby.  If any provision of this order, or the application of any provision to any person or circumstances, is held by a court of competent jurisdiction to be invalid because of the lack of certain procedural requirements, the relevant executive branch officials shall implement those procedural requirements.

(n)  The Attorney General is authorized to take any steps pursuant to section 721(d)(3) necessary to enforce this order.

(o)  Any deadline or time limitation under this order imposed on CFIUS shall be tolled during a lapse in appropriations.

Sec. 3.  Reservation.  I hereby reserve my authority to issue further orders with respect to the Transaction as shall in my judgment be necessary to protect the national security of the United States.

Sec. 4.  Publication and Transmittal.  (a)  This order shall be published in the Federal Register.

(b)  I hereby direct the Secretary of the Treasury to transmit a copy of this order to the appropriate parties named in section 1 of this order.

(c)  The costs for publication of this order shall be borne by the Department of the Treasury.

                               DONALD J. TRUMP

THE WHITE HOUSE,

    January 2, 2026.

In the Media  |  January 2, 2026

Legal Business

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Partner Hillary Holmes recently spoke with Legal Business (subscription required) about the massive power needs of the technology industry. She said that a major question is where this energy is going to come from.

“We have clients that have traditionally been in the oil and gas space who are taking advantage of the fact that they have access to a lot of land and regulatory expertise, and the ability to build lots of infrastructure quickly and efficiently, to leverage that towards data [centers],” Hillary observed. “We went through the industrial age, and now we’re in the computer age, and we don’t yet know what we’re going to need for that.”

WASHINGTON, Jan. 2, 2026 /PRNewswire/ — Evolent Health, Inc. (NYSE: EVH) (“Evolent” or the “Company”), a company that specializes in better health outcomes for people with complex conditions through proven solutions that make health care simpler and more affordable, announced that the Compensation Committee of Evolent’s Board of Directors approved the grant of a one-time time-based restricted stock unit award covering 587,500 shares of Evolent Class A common stock, par value $0.01 per share (the “Inducement Award”), to Mr. Mario Ramos (“Mr. Ramos”), Evolent’s new Chief Financial Officer effective as of January 2, 2026. The Inducement Award was granted as an inducement material to Mr. Ramos entering into employment with Evolent, as Mr. Ramos was neither previously an employee of Evolent nor a former employee returning upon a bona fide period of non-employment, in accordance with New York Stock Exchange Listing Rule 303A.08.

The Inducement Award has a grant date value of $2,350,000, vesting 34% on the first anniversary of the grant date, 33% on the second anniversary of the grant date and 33% on the third anniversary of the grant date, contingent on his continued employment through the applicable vesting date. 

About Evolent  
Evolent (NYSE: EVH) specializes in better health outcomes for people with complex conditions through proven solutions that make health care simpler and more affordable. Evolent serves a national base of leading payers and providers and is consistently recognized as a top place to work in health care nationally. Learn more about how Evolent is changing the way health care is delivered by visiting evolent.com.

Media inquiries 
Jamie Manfuso
[email protected] 

SOURCE Evolent Health, Inc.

NEWTON, Mass., Jan. 2, 2026 /PRNewswire/ — Karyopharm Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, today announced that the Company granted an aggregate of 1,533 restricted stock units (RSUs) to two newly-hired employees. These RSU awards were granted as of December 31, 2025 (the “Grant Date”) pursuant to the Company’s 2022 Inducement Stock Incentive Plan, as amended, as inducements material to the new employees entering into employment with Karyopharm in accordance with Nasdaq Listing Rule 5635(c)(4).

Each RSU award will vest over three years, with 33 1/3% of the shares underlying the RSU award vesting on each of the three consecutive anniversaries of the Grant Date. The vesting of each RSU award is subject to the employee’s continued service as an employee of, or other service provider to, Karyopharm through the applicable vesting dates.

About Karyopharm Therapeutics

Karyopharm Therapeutics Inc. (Nasdaq: KPTI) is a commercial-stage pharmaceutical company whose dedication to pioneering novel cancer therapies is fueled by a belief in the extraordinary strength and courage of patients with cancer. Since its founding, Karyopharm has been an industry leader in oral compounds that address nuclear export dysregulation, a fundamental mechanism of oncogenesis. Karyopharm’s lead compound and first-in-class, oral exportin 1 (XPO1) inhibitor, XPOVIO^® (selinexor), is approved in the U.S. and marketed by the Company in three oncology indications. It has also received regulatory approvals in various indications in 50 ex-U.S. territories and countries, including the European Union, the United Kingdom (as NEXPOVIO^®) and China. Karyopharm has a focused pipeline targeting indications in multiple high unmet need cancers, including in multiple myeloma, endometrial cancer, myelofibrosis, and diffuse large B-cell lymphoma (DLBCL). For more information about our people, science and pipeline, please visit www.karyopharm.com, and follow us on LinkedIn and on X at @Karyopharm.

XPOVIO^® and NEXPOVIO^® are registered trademarks of Karyopharm Therapeutics Inc.

SOURCE Karyopharm Therapeutics Inc.

ISO New England now offers self-paced training for distributed energy resources (DERs) interested in participating in the region’s wholesale electricity markets as part of an aggregation.

The training module provides an overview of market participation models established under Federal Energy Regulatory Commission Order (FERC) No. 2222. It also includes a detailed summary of potential system impacts. The estimated viewing time is approximately 20 minutes.

A downloadable PDF is also available and includes a printable version of the participation model descriptions covered in the self-paced training.

For additional information, visit the Order No. 2022 Key Project page.

ISO New England offers a variety of training materials to help participants understand the region’s wholesale electricity market and power system. Is there something specific you’d like to see? Take a short survey to provide your feedback.