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.
Jun 9, 2017
BNN Bloomberg
,Quebec’s finance minister believes his province is “light years away” from the hot housing markets that exist in Toronto and Vancouver.
While the Montreal housing market has already seen six per cent price growth in 2017, Carlos Leitao believes there’s no reason to sound the alarm just yet.
“We are still light years away from a situation that you see in Toronto or Vancouver,” Leitao told BNN in an interview on Friday. “Our level of prices is still, very, very affordable and our rate of growth in pricing, it’s improving, but it’s still well within reason.”
“What we’ve seen in both sales volume and in price growth reflects a balanced market, reflects good balance between supply and demand. This is not at all reason to worry… it confirms our optimism in the economy moving forward.”
The six per cent growth is a significant shift from the one per cent growth projected by the Montreal Real Estate Board at the start of the year, but Leitao believes those projections overestimated the effect Canada’s newly-instituted mortgage rule changes would have on the market.
“I think those original forecasts were overly pessimistic because they were assuming that there was going to be a big adjustment to the new mortgage rules,” he said.
“We always thought that those new mortgage rules are necessary and that it would have some impact on the market, but I never believed that in a city like Montreal that the impact of those new mortgage rules would be that negative.”
As for what’s driving the market, Leitao believes that the uptick in housing interest – not just in Montreal but in cities across Canada – can’t be boiled down solely to interest from foreign buyers. He says targeting them is not a standalone solution to cooling real estate prices.
“If we only think of housing speculation in terms of foreign buyers, we are missing the boat. Housing market speculation is usually driven primarily by local residents,” Leitao told BNN.
“Sure, foreigners may at some point contribute to that movement, but they are not the only answer. So, when we approach the issue of housing market speculation we have to look at it in a much broader range of issues than just focusing on foreigners.”