Greece to Increase Minimum Wage by €50 a Month From April 1
Greek Prime Minister Kyriakos Mitsotakis announced an increase of €50 ($53.9) a month to the country’s minimum wage for employees, lifting the amount to €830 from €780.
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Greek Prime Minister Kyriakos Mitsotakis announced an increase of €50 ($53.9) a month to the country’s minimum wage for employees, lifting the amount to €830 from €780.
One of China’s biggest property firms delayed its earnings report while another posted a record profit decline as the nation’s real estate crisis shows no signs of easing.
The owners of Saks Fifth Avenue are in talks to raise financing to bolster the cash portion of an offer to buy competitor Neiman Marcus, according to people familiar with the matter, moving two of America’s biggest high-end department stores closer to a deal after years of on-and-off courtship.
Jefferies Financial Group Inc.’s revenue jump — due to strong capital markets and rebounding investment banking — bodes well for the bigger banks due to report in weeks to come.
Blackstone Inc. sold 48 warehouses in Southern California to Rexford Industrial Realty Inc. for $1 billion.
Oct 13, 2021
Bloomberg News
,(Bloomberg) -- China’s credit growth slowed in September, as weakness in the property market amid the Evergrande crisis weighed on financing and lending activities, despite the central bank’s call to stabilize credit expansion.
Corporate bonds issuance and mortgage loans likely slowed on concerns over the property sector and continued shadow bank clean-up, Morgan Stanley analysts led by Derrick Kam wrote in a note before the data release. China’s major developers saw their sales plunge in September, after home sales in big cities dropped in August.
The central bank reiterated last month that overall credit growth will become more stable to keep the macro leverage ratio steady, after credit expansion slowed significantly this year in part due to last year’s high base. The PBOC also urged financial institutions to help local governments stabilize the rapidly cooling housing market and make mortgages easier to get for some homebuyers, in a sign that regulators are trying to ringfence the fallout of China Evergrande Group’s debt crisis.
The slowing economic recovery from the pandemic is also reflected in weakening borrowing demand. Overall loan demand declined for the second straight quarter in the June-to-September period to the lowest level since the first quarter of 2020, according to a gauge compiled by the PBOC based on a survey on 3,200 banks across the country.
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