Slowing Inflation Primes G-7 Central Banks for June
Inflation-related releases across the Group of Seven will prime central bankers for crucial June interest-rate decisions, just as they meet in Italy to discuss the state of the world economy.
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Inflation-related releases across the Group of Seven will prime central bankers for crucial June interest-rate decisions, just as they meet in Italy to discuss the state of the world economy.
Big US bond investors have been aggressively shifting money into long-dated notes, betting that the unloved asset class will be one of the winners from eventual interest rate cuts.
A measure of underlying US inflation cooled in April for the first time in six months, a small step in the right direction for Federal Reserve officials looking to start cutting interest rates this year.
Emerging-market currencies dipped Friday on dwindling optimism over Federal Reserve rate cuts, paring their fourth-straight week of gains.
The owner of a historic office building in Manhattan’s Financial District has filed bankruptcy to sell the property, which has been subject to foreclosure and suffered from a lack of tenants due to the Covid-19 pandemic.
Jun 10, 2020
Bloomberg News
,(Bloomberg) -- The landlord that owns chunks of London’s trendy Soho district has written down the value of its portfolio by more than 300 million pounds ($383 million), after the coronavirus pandemic forced its stores and restaurants to close.
Shaftesbury Plc said its portfolio fell by 7.9% in the six months through March to 3.5 billion pounds, according to a statement Wednesday. The company has been particularly exposed to lockdown measures, with about 38% of its portfolio made up of restaurants, bars and cafes in London’s most popular tourist districts, according to Bloomberg Intelligence analyst Sue Munden.
“The growing impact of the measures to address the pandemic are having a material impact on normal patterns of life and commerce, both for our occupiers and on the near-term prospects for our business and financial performance,” Shaftesbury Chief Executive Officer Brian Bickell said in the statement.
Shaftesbury’s focus on small independent stores and restaurants in London’s tourist heartlands had been a source of strength during the country’s retail crisis, as they continued to attract millions of visitors even as more shoppers bought online. Now the dozens of properties it owns around Chinatown, Soho and Covent Garden have seen footfall plunge as international travel has all but ceased and Britons have been told to stay at home.
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