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.
Mar 1, 2019
Bloomberg News
,Oxford Properties Group is close to an agreement to sell a large shopping centre and two office towers in downtown Edmonton, Alberta, in a deal that could fetch more than $300 million, according to people with knowledge of the matter.
LaSalle Investment Management Inc.’s Canadian real estate arm, Montreal-based developer Canderel and North American Development Group are teaming up to buy City Centre and the adjacent Oxford Tower and TD Tower, said the people, who asked not to be identified because the matter is private.
LaSalle will be the majority stakeholder, while North American will manage City Centre and Canderel will manage the offices, according to the people. The deal is not final and may not go through.
Representatives for Oxford, the real estate unit of Canadian pension fund OMERS, Chicago-based LaSalle and Montreal-based Canderel declined to comment. Markham, Ontario-based North American didn’t respond to a request for comment.
City Centre, a four-level shopping mall spanning three city blocks, draws more than 10 million shoppers annually and is home to tenants such as Hudson’s Bay and Landmark Cinemas. Occupants of the office towers include TD Insurance, Enbridge Inc. and PwC Management Services.
The vacancy rate for the two Oxford towers is less than 5 per cent, compared with an average of 15 per cent for the Edmonton market in the fourth quarter, according to Avison Young. That rate, driven by openings of three new office towers since 2015, is expected to decline slowly starting this year, said Cory Wosnack, a managing director at the brokerage.
A deal for the Edmonton properties would follow Oxford’s sale this month of the Dynamic Funds Tower in Toronto. The firm is said to be in talks with potential buyers for 1250 René-Lévesque Boulevard West, one of Montreal’s iconic skyscrapers.