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.
Sep 28, 2021
Bloomberg News
,(Bloomberg) -- Federal Reserve officials have questioned several big U.S. banks about their exposure to China Evergrande Group, joining other global regulators in examining the potential fallout from the property developer’s debt crisis.
Troubles at Evergrande, with more than $300 billion of liabilities, spurred the Fed to seek information to head off any risks to financial stability, according to people familiar with the matter. Hong Kong’s central bank also asked lenders there to report risks tied to Evergrande, China’s largest issuer of high-yield, dollar-denominated bonds.
Read more: Hong Kong Asks Banks to Report Exposure to China Evergrande
U.S. banking supervisors routinely question lenders about their ties to struggling companies. Fed Chair Jerome Powell said last week that “there’s not a direct United States exposure,” adding that big Chinese banks also are “not tremendously exposed.”
The contagion danger had been similarly dismissed by European Central Bank President Christine Lagarde, who said direct exposure in Europe is “limited.”
Powell said his main worry is “that it would affect global financial conditions through confidence channels and that kind of thing.”
A Fed spokesman declined to comment on the agency’s requests.
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