July, 2016

• 12 July

  EU, UK negotiations may get prolonged

    With Brexit impact hanging over Europe, European finance ministers’ warnings over adverse economic impact on the EU, were also loaded with a political sarcasm that the UK, which voted to leave at its own choice, risks becoming a “Little Britain” in the referendum’s aftermath. This is a clear signal to Scotland and North Ireland to remain in the EU. ...

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• 12 July

  The US job recovery has more room to run

    Mark Whitehouse U.S. job growth rebounded in June from a brief slump that had many concerned about the outlook for the economy. The crucial question now: How long can it go on? The employment report for June suggests that U.S. employers were doing well in the weeks before Britain’s vote to leave the European Union. The Labor Department’s establishment ...

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• 12 July

  US government holds promise of faster growth

  One of the U.S.’s biggest economic challenges is the slump in productivity. After climbing steadily for many decades, productivity has slowed dramatically since 2011: Productivity is the key to long-term prosperity. It represents a hard ceiling on the amount of valuable things that a society is able to produce. If productivity flatlines, it means that the pie isn’t growing, and ...

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• 12 July

  Canada housing price surge spurs builders

  

    BLOOMBERG A surge in prices for existing homes in Vancouver and Toronto is fueling new construction in Canada’s two most expensive cities. Housing starts jumped to an annualised pace of 218,333 units in June, the Canada Mortgage & Housing Corp. said, the highest since September and a 17 percent increase from a month earlier. The data suggests that builders ...

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• 12 July

  Hong Kong tycoon Kwok freed on bail

  

    Hong Kong / AFP Hong Kong property tycoon Thomas Kwok was granted bail on Tuesday, clearing the path to appeal his graft conviction over a high-profile cash for favours scandal. Kwok was jailed in 2014 over a series of payments totalling HK$8.5 million (US$1.1 million) to the city’s former deputy leader Rafael Hui, who was also convicted on graft ...

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• 12 July

  Aberdeen to offer $136mn London office

  

    Bloomberg Aberdeen Asset Management Plc appointed broker Strutt & Parker LLP to sell a London office property that’s part of a UK real estate fund currently suspended from trading, according to three people familiar with the matter. The asset manager will offer 10 Hammersmith Grove, an office building valued at about 105 million pounds ($136 million), the people said, ...

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• 12 July

  Property firms expect Frankfurt to win big from Brexit

    Frankfurt / AFP German property firms expect a boom in Frankfurt as financial businesses move activities and staff out of London in the wake of Brexit, an industry survey showed this week. A majority of 72 percent of respondents believed financial centre Frankfurt, rather than rivals Dublin, Paris, or Amsterdam, would gain the most from Britain leaving the European ...

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• 12 July

  Banks’ commercial real estate shares jump by 52 percent

  

    Bloomberg Banks burned by soured home loans in the aftermath of the housing bust and subsequent financial crisis found a quick replacement; mortgages secured by commercial properties ranging from malls to offices. In the years since 2008, US lenders have opened the commercial real estate (CRE) credit spigots, lending money underpinned by properties including hotels, multifamily rental units, and ...

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• 12 July

  Bombardier eyes Jetliner win in Europe

  

    Bloomberg Bombardier Inc. is targetting a major European aircraft order as the next step in the recovery of its C Series programme following a $5.6 billion sale to Delta Air Lines Inc. that helped turn around the jetliner’s prospects. The Canadian planemaker expects a “strong second half of the year” for its marquee jet, which is more than two ...

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• 12 July

  Lessor to buy planes ‘for Indonesian airline’

  

    Shanghai / AFP An aircraft leasing company will buy 30 of China’s homegrown regional jets for an Indonesian airline to use, a statement said, just two weeks after the ARJ21 made its first commercial flight. Beijing is keen to build an aerospace industry of its own, and almost all orders for the long-delayed ARJ21 aircraft — which was supposed to ...

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