Somebody’s Making Money Off of All Our Junk
We’ve been buying stuff for a generation. Now we need someplace to put it. By Adam Minter August 28, 2017, 3:30 AM PDT Photographer: Adrian Brown/Bloomberg Investors in premium London real estate can rest easy knowing that their tenants are among the world’s wealthiest and stable renters. That’s the approach that the UK Real Estate Fund operated …
Free Trade’s Promise of Prosperity Comes With a Big Caveat
Trade creates winners and losers, and economists are trying to measure the divide By: Jeanna Smialek August 29, 2017, 7:48 AM PDT Economists are having a tough conversation about the trade. For decades, they’ve advocated a free flow of goods and services, based on the Econ 101 idea that countries produce whatever they have a comparative …
Duds of Booming Indian Stock Market Win Over $20 Billion Manager
India’s worst-performing stocks look like good value to the asset manager spun off from the country’s oldest mutual-fund company. Health care and technology are the only sectors in the red this year in India, where the wider market has soared to new highs. Lupin Ltd. and Dr. Reddy’s Laboratories Ltd. are the biggest losers on the S&P …
How the Top 1% Keeps Getting Richer
Don’t do it! Photographer: Joe Raedle/Getty Images Why are people like Bill Gates, Jeff Bezos and Mark Zuckerberg so incredibly rich? Sure, they’re great business people, and they had the right ideas at the right time. But most importantly, when their businesses succeeded, they owned a large portion of the equity. Equity, or stock, is the …
Woes Deepen For Mortgage Bond Investors Who Find Stairs Missing
It was like salt in the wound for investors in defaulted real estate bonds who’d been waiting four years to get their money back. The investors were seeking to recoup money from a pair of German office buildings tied to 412 million euros ($486 million) of commercial mortgage bonds. Then they discovered a problem: while …
Canada Economy in Rarefied Territory With 3% Growth
Statistics Canada reports growth data on Thursday that will confirm the nation’s economy has entered rarefied territory. Economists are forecasting an expansion in second-quarter gross domestic product at about the same 3.7 percent pace recorded in the first three months of this year. Even with an anticipated second-half slowdown, that should leave Canada flirting with 3 percent …
Australia Would Rather Invest in Papua New Guinea Than in China
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Chinese Billionaire Is Poised to Rescue a Great British Icon
An assembly hall sits rusting on a 55-acre factory complex in eastern England, surrounded by a vast expanse of green, productive farmlands. The forlorn structure is a reminder of the latest failed attempt to revive Lotus Cars, a specialist sports car maker, and engineering powerhouse. In its heyday, Lotus was revered for lightweight racers favored by …
Trump’s Immigration Crackdown Is Making New Homes More Expensive
Last year, Jim Brown and other home builders around Atlanta could get a good framing crew at a rate of $3.25 per square foot. This year, the few framers they can find demand, and get, almost double that. “They can ask anything,” Brown said. “There aren’t enough of them left.” A high-end home builder who …
Hudson’s Bay Jumps on Report It’s Reviewing Strategic Options
Hudson’s Bay Co., the owner of the Saks Fifth Avenue and Lord & Taylor chains, spiked as much as 14 percent after Reuters reported the company is reviewing its strategic options. The department-store company, which has already hired an investment bank as it responds to pressure from activist shareholder Land & Buildings Investment Management LLC, plans to …