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Here’s a word to add to your investing vocabulary: Dungers. The term for dilapidated, crumbling houses comes from New Zealand, which is in the grip of a striking property boom. The country topped Bloomberg Economics’ risk radar in June for being the most unaffordable housing market in the world. Judging by the dunger that sold for NZ$1.8 million ($1.3 million) ...

“I had to get out of America. It has gotten so ugly, so dark and my pessimism had grown so high that I needed to do something different.” That’s how pollster Frank Luntz, currently a visiting fellow at the Center for Policy Studies, explained his decision to spend a summer in Britain studying the political landscape. Brexit aside, Britain may ...

Bloomberg A wave of patriotic buying fuelled by the Xinjiang cotton controversy is helping shares of Chinese sportswear makers outperform global peers. Chinese consumer support in response to the alleged human-rights issues in Xinjiang region has boosted at least one local sneaker maker by some 250% since the controversy escalated in late March. A Bloomberg gauge of Hong Kong-listed apparel ...

Bloomberg Walmart Inc has hired a veteran of American Express Co to run Walmart+, the membership program it unveiled less than a year ago to counter Amazon.com Inc’s Prime plan. Chris Cracchiolo, a senior executive who spent 19 years at the credit-card company, will take over as senior vice president and general manager of Walmart+ on July 12, Chief Customer ...

Bloomberg Ocado Group Plc added Spanish grocery chain Alcampo as a new client for its robotic warehouse business, which is gaining traction abroad as grocery e-commerce booms. The new contract will add to profit in coming fiscal years as these deals require an upfront investment, Ocado said. The company also maintained its full-year earnings forecast as strong sales in its ...

Bloomberg J Sainsbury Plc raised its profit forecast, underlining the bullish trends for UK supermarkets that have focused private equity bidders’ attention on the grocer’s smaller rival, Wm Morrison Supermarkets Plc. Sainsbury expects to generate profit of 660 million pounds ($917 million) this fiscal year, up from a previous forecast of 620 million pounds and exceeding pre-Covid levels, the grocer ...

Bloomberg Indian tycoon Gautam Adani is seeking a loan of about $1 billion to refinance existing debt of Mumbai’s international airport, according to people familiar with the matter. Barclays Plc and JPMorgan Chase & Co are among banks in discussions to provide the funds to Adani Airport Holdings Ltd, the people said. Deutsche Bank AG is also in talks to ...

Bloomberg Thailand plans to convert a terminal at the nation’s main international airport into a field hospital as a surge in coronavirus infections that’s straining the nation’s public health system shows little sign of easing. Airports of Thailand Pcl, operator of the Suvarnabhumi International Airport, has been asked to convert the newly completed terminal into a facility with an intensive-care ...

Bloomberg The US appointed a new top representative to Taiwan, in the Biden administration’s latest move to strengthen ties with Taipei amid increasing pressure from Beijing. Sandra Oudkirk is the incoming director of the American Institute in Taiwan’s Taipei office, the de facto US ambassador in the absence of official ties, succeeding Brent Christensen later this summer, the institute said ...

Bloomberg Haitian President Jovenel Moise was assassinated in a raid on his home by a group of unidentified people in the capital Port-Au-Prince, according to the nation’s interim prime minister Claude Joseph. First Lady Martine Moise was injured in the “barbaric” attack and is hospitalised, Joseph said in a statement, published by the nation’s embassy in Canada on Wednesday. Some ...