UBS Analyst Who Took On Evergrande Now Bullish on China Property
When it comes to Chinese real estate, John Lam is a lone wolf.
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When it comes to Chinese real estate, John Lam is a lone wolf.
Analysts upgraded their forecast for China’s growth this year after a better-than-expected performance in the first quarter — but they see more signs that the world’s second-biggest economy will struggle to escape from deflationary pressures.
A rash of failures of A-rated insurers points to a hidden weakness in the market, researchers say.
Whirlpool Corp., the owner of the Maytag and Amana appliance brands, is cutting about 1,000 salaried positions worldwide to reduce costs as slow US home sales limit demand.
Chicago Bears officials alongside Mayor Brandon Johnson unveiled plans for a $4.7 billion project to build a publicly owned, enclosed stadium and enhanced lakefront area.
Sep 22, 2018
Bloomberg News
,(Bloomberg) -- London’s Ritz Hotel, owned by the billionaire Barclay Brothers, said profits increased six percent last year, lifted by record revenue.
Sales at the Ritz, one of the world’s most expensive and well-known hotels, rose seven percent to 46.1 million pounds ($60.3 million), the highest level in its history. Gross profit rose to 24.8 million pounds, according to accounts filed to Companies House.
The Ritz opened its doors in 1906 and quickly came to symbolize luxury, frequented by Hollywood stars, politicians and royalty. Noel Coward wrote songs there, and former American first lady Jackie Onassis said “it’s like paradise.” Suites can cost more than 1,000 pounds a night.
David and Frederick Barclay, who were estimated to be worth 7.2 billion pounds in The Sunday Times Rich List of 2017, bought the hotel in 1995.
To contact the reporter on this story: Adveith Nair in London at anair29@bloomberg.net
To contact the editors responsible for this story: David Merritt at dmerritt1@bloomberg.net, Christopher Elser, Jon Menon
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