US GDP Report Set to Highlight Immigration-Driven Economic Boom
Initial data on US gross domestic product for the first quarter of 2024 is set to confirm an ongoing economic boom amid a tailwind from surging immigration.
Latest Videos
The information you requested is not available at this time, please check back again soon.
Initial data on US gross domestic product for the first quarter of 2024 is set to confirm an ongoing economic boom amid a tailwind from surging immigration.
Oracle Corp. is moving its headquarters out of the city. Tesla Inc. is pulling back after a rapid expansion. Almost a quarter of commercial office space is vacant, and nowhere in the country have residential real estate prices fallen further from their pandemic peak.
Mortgage rates in the US increased for a fourth straight week.
It’s independents, a growing voting bloc, who drive election victories in the swing state, where the GOP is rushing to defuse abortion as an issue.
Pending sales of existing US homes in March reached their highest levels in a year in spite of persistently high borrowing costs and a low supply.
Jan 20, 2020
Bloomberg News
,(Bloomberg) -- The Philippines government said it’s reviewing all deals signed with the private sector that may have put taxpayers at a disadvantage, a sign that President Rodrigo Duterte is taking the scrutiny of contracts beyond regulated utilities.
“I endorsed to the president a review of all contracts that may have onerous provisions,” Finance Secretary Carlos Dominguez told reporters in Manila on Monday. His department discovered a 40-year-old property deal outside Manila that needs to be looked at closely, Dominguez said.
Even Duterte’s spokesman, Salvador Panelo, plans to do some probing. In an interview with DZIQ radio on Sunday, Panelo said he would look into Ayala Land Inc.’s contract with the state-run University of the Philippines after reading an Internet story that the developer is paying a cheap lease.
Ayala Land tumbled 7%, its biggest drop in more than four years, while its parent Ayala Corp., whose water venture is under review following an earlier verbal tirade by Duterte, lost 6.6%. The Philippine Stock Exchange Index fell 2.2% at the close in Manila, to its lowest in more than three months.
Duterte’s Water Rants Threaten Philippine Pitch to Investors
The president said Friday evening that he would review next a Manila rail transit contract awarded to Ayala Corp. and Metro Pacific Investments Corp., another shareholder of the Philippine capital’s water concessionaires. Metro Pacific closed 5.4% lower on Monday, falling for a fourth day.
To contact the reporters on this story: Claire Jiao in Manila at cjiao5@bloomberg.net;Cecilia Yap in Manila at cyap19@bloomberg.net
To contact the editors responsible for this story: Cecilia Yap at cyap19@bloomberg.net, Clarissa Batino
©2020 Bloomberg L.P.