China’s Credit Unexpectedly Shrinks in April Amid Weak Demand
China’s credit in April shrank for the first time as government bond sales slowed, while loan expansion was worse than expected in a sign of weak demand.
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China’s credit in April shrank for the first time as government bond sales slowed, while loan expansion was worse than expected in a sign of weak demand.
The Bank of England sent its clearest signal yet that it was closing in on interest-rate cuts, with Governor Andrew Bailey indicating markets were underpricing the pace of easing in the months ahead.
One of the Arab world’s last holdouts to global vacationers is slowly opening up, as a new Algerian visa program gives more outsiders the chance to take in the lunar landscapes and prehistoric art of its vast Sahara desert.
When central banks start cutting interest rates, they usually move quickly. The Bank of England may choose a more cautious path when its nine-member Monetary Policy Committee decides the time has come to reduce borrowing costs.
Billionaire venture capitalist Vinod Khosla was dealt a new setback in his 15-year fight to block public access through his private property to a popular surfing spot south of San Francisco.
Apr 26, 2021
Bloomberg News
,(Bloomberg) -- Harrison Street Real Estate Capital LL is betting on the growth of the U.K.’s bio-tech industry with a deal to combine the country’s largest science incubator with a portfolio of science parks.
The company has formed a venture with Trinity Investment Management to acquire its real estate business and combine it with BioCity Group, according to a statement. BioCity helps startups through early stage venture capital investment and accelerator programs.
Science parks have become one of the hottest real estate niches in the U.K. as international investors look to piggy-back on increased government funding for a sector that has been among the few beneficiaries of the coronavirus pandemic. The country has a shortage of purpose built space for commercializing scientific research, despite boasting several of the world’s top academic institutions and pharmaceutical companies.
In addition to Trinity’s portfolio of life science properties in the U.K., the venture will also acquire 12 science parks, according to the statement. The new business, valued at about 120 million pounds ($167 million), will be called We Are Pioneer Group and will manage a portfolio spanning 2.6 million square feet.
Chicago based Harrison Street, which is owned by broker Colliers International Group Inc., has invested heavily in science facilities in the U.S. where demand for hubs around top universities has lured billions from real estate investors. Blackstone Group Inc last year recapitalized a portfolio of BioMed Realty life sciences buildings for $14.6 billion.
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