Bloomberg London overtook New York as the biggest real estate exposure for Norway’s $1 trillion wealth fund. The fund held 22.8 percent of its real estate portfolio in London, followed by 21.5 percent in New York and 19.1 percent in Paris at the end of 2017, according to a report released on Tuesday in Oslo. At the end of 2016, ...

Bloomberg Some consumer prices that skyrocketed in January probably returned to Earth in February, indicating fears of runaway US inflation that jarred financial markets were overblown. The consumer price index probably rose 0.2 percent in February from the previous month, after a 0.5-percent jump in January, according to the median estimate of economists surveyed by Bloomberg News ahead of Labor ...

Bloomberg Add co-working giant WeWork Cos. to the growing list of players looking to profit from Toronto’s booming office market. The New York-based company is targeting more than a sixfold surge in Toronto by 2020, bringing its locations in the city to at least 20, according to Dave McLaughlin, WeWork’s general manager for the Northeast. WeWork opened its first locations ...

Bloomberg US Secretary of State Rex Tillerson was ousted on Tuesday after a turbulent tenure with President Donald Trump, blindsiding the former Exxon Mobil Corp CEO just hours after he returned from a nearly week-long trip to Africa. “I am proud to nominate the Director of the Central Intelligence Agency, Mike Pompeo, to be our new Secretary of State,” Trump ...

UNITED NATIONS / Reuters US Ambassador to the United Nations Nikki Haley warned that Washington “remains prepared to act if we must,” if the UN Security Council fails to act on Syria, as the Syrian army’s onslaught in eastern Ghouta continued unabated. The United States asked the Security Council to demand an immediate 30-day ceasefire in Damascus and rebel-held eastern ...

Bloomberg Prime Minister Theresa May’s Cabinet met to discuss how to strike back at Russia over the poisoning of a former spy on British soil, ahead of a midnight deadline for the Kremlin to explain the attack. In a dramatic statement to Parliament, May announced that Russian double agent Sergei Skripal and his daughter Yulia had been poisoned more than ...

Bloomberg Opposition parties in the Democratic Republic of Congo formed a coalition that will back Moise Katumbi’s candidacy for president in elections scheduled for December. The announcement marks the start of what’s expected to be a series of declarations by candidates seeking to replace President Joseph Kabila, who has ruled the central African nation for 17 years and is barred ...

Bloomberg About 8,500 members of Ethiopia’s largest ethnic group fled to neighboring Kenya after the military said it “mistakenly” killed nine civilians and injured 12 others in a market town that straddles their border. The ethnic Oromo refugees, mostly women and children, began arriving in northern Kenya on March 10, Halkano Halake, spokesman for the governor of Marsabit county, said ...

“Trade wars,” President Donald Trump recently declared on Twitter, “are good, and easy to win.” But it’s questionable whether the president’s proposed tariffs — a tax of 25 percent on imported steel and 10 percent on imported aluminum — will be a war or an act of friendly fire. As I recently wrote, tariffs are generally not a good way ...

The deepening Moritomo Gakuen school land-sale scandal could put an end to Abenomics. Japan’s Finance Minister Taro Aso refused to step down on Monday after it was revealed staff at his ministry had ordered the alteration of documents linked to the sale of government-owned property to the nationalist school operator. Prime Minister Shinzo Abe said he wants Aso to take ...