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.
Apr 30, 2018
Bloomberg News
,Marriott Vacations Worldwide Corp. agreed to buy ILG Inc. for about US$4.7 billion in a stock and cash deal, creating the largest luxury brand for timeshare vacation resorts.
The deal, a 16 per cent premium to the closing share price on Friday, will see ILG shareholders receive US$14.75 in cash and 0.165 of MVW common stock for each share. The deal is expected to create annual savings of $75 million within two years of closing.
ILG had been facing activist pressure since last year to strike a merger with a competitor. The combined firm will have revenues of US$2.9 billion and own more than 100 vacation properties around the world. It will also have exclusive access to the Marriott International and Hyatt loyalty programs for vacation ownership.
For shareholders, the deal “provides them with immediate and compelling cash value and the opportunity to meaningfully participate in the long-term growth potential of a powerful combined company," said Craig Nash, chairman and chief executive officer at ILG. "The strategic rationale for this transaction is clear. Combining these two highly complementary businesses will create an industry leader with enhanced scale and a broader product portfolio that will have great benefits for our members, owners and guests.”