Article content (Bloomberg) — Redefine Properties Ltd., South Africa’s second-largest real estate investment trust, said an oversupply of offices has kept rents under pressure. The company’s profit plunged 63% to 798.5 million rand ($43.5 million) in the six months ended Feb. 28. Rising interest rates and unprecedented power outages prompted the company to lower its […]
Breadcrumb Trail Links PMN Business Price of groceries has grown 50% faster than overall inflation since 2020 Author of the article: Bloomberg News Mike Dorning Published May 07, 2023 • 6 minute read Join the conversation Melissa Lopes has started going to the Boston Red Cross food pantry once, sometimes twice a week since her benefits were […]
Breadcrumb Trail Links PMN Business Warren Buffett’s Berkshire Hathaway Inc. posted an increase in operating earnings after its auto-insurer Geico swung to profitability following some six quarters of losses. Author of the article: Bloomberg News Max Reyes Published May 06, 2023 • 2 minute read Join the conversation An attendee looks at books during a […]
Breadcrumb Trail Links PMN Business Germany is weighing a reduced power price of 6 cents per kilowatt-hour or less for certain energy-intensive industries to help ease costs after last year’s crisis shook the manufacturing-heavy economy. Author of the article: Bloomberg News Petra Sorge Published May 05, 2023 • 2 minute read Join the conversation Article […]
Breadcrumb Trail Links PMN Business As the world’s major central banks near the end of their steepest rate-tightening campaign in decades, the harsh lessons of past policy errors will weigh heavily on decisions as to when and where borrowing costs peak. Author of the article: Bloomberg News Jana Randow, Craig Torres and Philip Aldrick Published […]
Article content (Bloomberg) — Turkish President Recep Tayyip Erdogan made his first public appearance since a health scare that sidelined him just weeks ahead of the nation’s election. Erdogan on Saturday visited Teknofest in Istanbul, an aerospace and technology festival which targets mostly young people, and spoke for about 30 minutes. Article content Turkey’s leader […]
Breadcrumb Trail Links PMN Business Two key US inflation gauges showed persistent price pressures in recent months, buttressing the case for another Federal Reserve interest-rate hike next week. Author of the article: Bloomberg News Molly Smith and Vince Golle Published Apr 29, 2023 • 3 minute read Join the conversation 3hk16ep1pm]v2ubl5j0q)8v3_media_dl_1.png Source: Bloomberg Article content […]
Article content (Bloomberg) — Canada’s economy geared down as expected in the first quarter, reinforcing the central bank’s decision to stop raising interest rates. Article content Preliminary data suggest gross domestic product contracted 0.1% in March, led by decreases in retail, wholesale and mining sectors, Statistics Canada reported Friday in Ottawa. That followed a 0.1% […]
Article content (Bloomberg) — Germany plans to at least double its import capacities for liquefied natural gas on the Baltic Sea island of Rügen to prepare for the risk that a key pipeline from Norway could be interrupted by acts of sabotage. Article content Chancellor Olaf Scholz sees the possibility of another attack on underwater […]
Breadcrumb Trail Links PMN Business Europe’s oil refiners, already making do without longstanding shipments of Russian crude, are now struggling with the loss of similar supplies from northern Iraq and a shock reduction in output by several of the world’s top producer nations. Author of the article: Bloomberg News Sharon Cho and Sherry Su Published […]