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☆ 'Nobody's getting wealthy on Social Security,' lawmaker says. The November election may influence the program's future
▼ + stars: | 2024-04-27 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Protect Social Security!" In 1983, when the last major Social Security reforms were enacted, there were no benefit enhancements, Larson argued. Today, annual earnings of up to $168,600 are subject to a 6.2% payroll tax toward Social Security paid by both workers and employers. Larson's plan also calls for closing loopholes that allow wealthy taxpayers to avoid paying Social Security taxes on other income. Larson said the public is well aware that Social Security benefits are theirs and they've paid for them.

Persons: Kean, Dave Kotinsky, Larson, they've, John Larson, Conn, Mark Wilson, Nancy Altman, Drew Ferguson, Ferguson, Jodey Arrington, Charles Blahous, Blahous Organizations: Getty, hasn't, Social Security, Security, Social, Capitol, Democratic, Republican, Republican House, Republicans, George Mason University Locations: Bridgewater , New Jersey, Jan, Georgia, Texas

☆ What is shrinkflation? Here’s why consumers may be getting less for their money
▼ + stars: | 2024-03-17 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

Pixelseffect | E+ | Getty ImagesSome grocery store products are providing less for your money. At the State of the Union, he again took a stand against shrinkflation, complaining that Snickers bars have become smaller. on X earlier this month, the White House responded, "C is for consumers getting ripped off." Where consumers may see shrinkflationFor now, it's up to consumers to spot the changes companies may make to their products. Why critics say shrinkflation is the wrong focusWhile shrinkflation is now under the political spotlight, not all experts agree the emphasis is correctly placed.

Persons: Joe Biden, Cookie, Biden, hasn't, Cookie Monster, Mara Weinraub, Weinraub, Shrinkflation, shrinkflation, Veronique de Rugy, de Rugy, David Doyle, Justin Sullivan Organizations: State, Union, shrinkflation, White, Federal Trade Commission, FTC, of Labor, Finance, Social, Federal, Labor Statistics, of Labor Statistics, George Mason University, Costco, Getty Locations: U.S, California, Macquarie, Novato , California

☆ What a Trump 2.0 Economy Would Look Like
▼ + stars: | 2024-03-15 | by ( Tim Smart | ) www.usnews.com time to read: +10 min

Overall, the Biden economic plan draws less than favorable reviews from voters. So, too, are promises of more tax cuts and a sharp curtailment of immigration. Trump was upset in 2019 that Powell was not doing enough to lower interest rates and stimulate the economy. The Trump tax cuts are set to expire in 2025, giving a second Trump administration the opportunity to fight that battle again. “A Trump 2.0 presidency would inherit very large fiscal deficits from the Biden Administration, rising interest expenses and an economy probably more prone to bouts of inflation,” the report said.

Persons: Muhammad Ali, Joe Frazier, Joe Biden, Donald Trump, Biden, Trump, There’s, ” Trump, it’s, ”, Patrick Horan, “, Tony Soprano, Patrick Kilbane, ” Kilbane, “ Trump, ” George Calhoun, Calhoun, ” Matt Gertken, Alex Nowrasteh, ” Michael Clemens, Clemens, Jerome Powell, Powell, Xi Jinping, Maria Bartiromo, reappoint Powell, Steve Mnuchin, ” Maxime Darmet, Darmet, Kevin McCarthy Organizations: Manila ”, Trump, CNBC, Monday, White, George Mason University, Ullmann Wealth Partners, Republican Party, Senate, Affordable, Quantitative, Stevens Institute of Technology, TikTok, Democratic, BCA Research, Labor, CATO Institute, Peterson Institute for International, University of Colorado, Federal Reserve, Federal, Biden, Fox Business, Trump Cabinet, House, Allianz Research, Biden Administration, U.S, Allianz Trade, Congress, GOP Locations: Manila, COVID, China, U.S, America, France

☆ To shore up Social Security, this controversial proposal calls for limiting retirement plan tax perks
▼ + stars: | 2024-02-09 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

But a new research proposal published by the Center for Retirement Research at Boston College by experts at the opposite ends of the political spectrum has sparked considerable opposition. Together, they call for limiting current tax preferences for retirement savings plans, and instead redirecting those funds to help shore up Social Security. How retirement plan tax incentives workIn 2024, the limit for total employee and employer contributions to a defined contribution plans such as 401(k)s is $69,000 in 2024. By rolling back the tax incentives provided through defined contribution retirement plans, the money saved could be used to help fix a portion of Social Security's funding gap, the researchers argue. "We now have an industry and a policy based on 401(k)s and defined contribution plans that has been, relatively speaking, successful," Fichtner said.

Persons: Andrew Biggs, Alicia Munnell, Biggs, Munnell, Michael Wicklein, Jason Fichtner, Fichtner Organizations: Istock, Getty, Center for Retirement Research, Boston College, American Enterprise Institute, Federal Reserve Bank of Boston, Social Security, U.S, Mercatus, George Mason University, Cato Institute, National Association of Plan, Center, Board

☆ A conservative fix for the housing crisis is making homes cheaper and more abundant in Texas
▼ + stars: | 2024-01-29 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

But unlike its coastal counterparts, Houston's homes are much cheaper and more abundant. Advertisement"It's really a way to limit housing construction," said Emily Hamilton, a housing researcher at the Mercatus Center at George Mason University. She added that minimum lot sizes maintain "a homogenous type of housing construction with often a high floor on how expensive it has to be." The policy change has spurred the construction of almost 80,000 new homes, many of them townhouses and other kinds of small-lot single-family homes. But the massive success of Houston's minimum lot size reform is getting noticed across Texas and around the country.

Persons: —, Emily Hamilton, Joseph Gyourko, Sean McCulloch, Hamilton, It's, it's, Nolan Gray, Freund, Brett Coomer, We're, Gray, Salim Furth Organizations: Service, Space, Business, George Mason University, California, Freund St, Houston Locations: Houston , Texas, New York City, San Francisco, Houston, walkable, Texas, Austin , Texas, Auburn , Maine, Helena , Montana, Arizona , Massachusetts, New York

☆ Here’s why Social Security and Medicare advocates fear Mike Johnson’s speakership
▼ + stars: | 2023-11-05 | by ( Manav Tanneeru | Tami Luhby | ) edition.cnn.com time to read: +6 min

Here’s what’s not up for debate: Social Security and Medicare are in financial trouble, and the nation’s debt is on an unsustainable trajectory. Spending on Social Security and Medicare is projected to soar as the nation ages, putting more pressure on Congress to address the programs. Advocates’ concernsAdvocates, however, argue that lawmakers can hide behind the debt commission and avoid taking individual blame for agreeing to benefit cuts. “The new speaker has made it clear he’s not a friend to seniors, Social Security or Medicare,” said Max Richtman, CEO of the National Committee to Preserve Social Security and Medicare. “So if you want to keep Social Security solid, you have to do all that stuff and a lot more.”This story has been updated with additional information.

Persons: Mike Johnson, shivers, Johnson, Here’s what’s, ”, That’ll, it’s, Max Richtman, “, Joe Biden, Biden, Charles Blahous, ” Blahous Organizations: CNN, Social Security, Republican, Medicare, Congressional, Office, American Enterprise Institute, National Committee, Preserve Social Security, George Mason University, Committee, RSC

☆ GDP: 5 reasons the economy grew so much last quarter despite the Fed’s efforts
▼ + stars: | 2023-10-27 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

New York CNN —The US economy wasn’t supposed to expand this much — or even at all — after so many rate hikes. But against all odds, the economy grew at an annualized rate of almost 5% last quarter, the Commerce Department reported Thursday. By making it more expensive for businesses and consumers to borrow money, those rate hikes were intended to get people to cut back on spending. For a while, many economists feared that the Fed’s rate hikes would climb too high too fast that it would give rise to a recession. That is to say that without more interest rate hikes, there could be a growing risk that inflation will accelerate even more.

Persons: ” said David Beckworth, “, That’s, ”, it’s, Courtney Shupert, Shupert, there’s, EJ Antoni Organizations: New, New York CNN, Commerce Department, Federal Reserve, George Mason University, Treasury Department, CNN, Productivity, Workers, Labor Department, Heritage Foundation Locations: New York

☆ Fed will stay 'on the job' to reduce inflation, Waller says
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +1 min

Oct 10 (Reuters) - Federal Reserve Governor Christopher Waller on Tuesday reiterated the U.S. central bank's determination to bring inflation down to its 2% target, but did not comment on the economic outlook or his view on the best immediate course for monetary policy. "Price stability is a primary responsibility of the Federal Reserve," Waller said in remarks prepared for delivery to a conference at George Mason University's Mercatus Center in Virginia. "This is why we have taken forceful steps aimed at reducing inflation - and why we will stay on the job to achieve our objective." "In considering the appropriate monetary policy response needed to return inflation to 2 percent, I find it useful to draw on the findings of the policy rules literature," Waller said. Waller has been a forceful advocate of the Fed interest rate hikes that have brought the short-term policy rate to its current 5.25%-5.50% range.

Persons: Christopher Waller, Waller, George Mason University's, John Taylor, Taylor, Ann Saphir, Paul Simao Organizations: Federal, Federal Reserve, Stanford, Thomson Locations: U.S, Virginia

☆ Childcare is getting even more expensive as providers battle landlords and zoning regulations at a time when federal funding is running out
▼ + stars: | 2023-09-26 | by ( Eliza Relman | ) www.businessinsider.com time to read: +6 min

Home-based childcare providers are particularly vulnerable. AdvertisementAdvertisementChildcare costs are soaring, particularly in major US cities — and zoning regulations are making it worse. The financial situation for providers is about to get worse as the nation nears the end of federal pandemic relief funding for childcare providers, which is predicted to disrupt care for 3 million children. AdvertisementAdvertisementLandlords often discriminate against renters wanting to open a childcare centerAnother insidious problem is landlord discrimination against childcare providers. The Washington, DC, city council recently passed a bill that would ban discrimination against home-based childcare providers by condo associations.

Persons: —, they're, Charles Gardner, Laurie Furstenfeld, Furstenfeld Organizations: Service, George Mason University, Care Law Locations: California, Berkeley , California, . Oregon , Oklahoma , Colorado , Connecticut, Montana, The Washington, DC

☆ It's a 'toss-up' whether the Fed will hike rates again, says former Kansas City Fed president
▼ + stars: | 2023-09-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's a 'toss-up' whether the Fed will hike rates again, says former Kansas City Fed presidentThomas Hoenig, distinguished senior fellow at Mercatus Center at George Mason University and former president of the Federal Reserve Bank of Kansas City, says "we won't know until we see more inflation data."

Persons: Thomas Hoenig Organizations: Kansas City Fed, Mercatus, George Mason University, Federal Reserve Bank of Kansas Locations: Kansas, Federal Reserve Bank of Kansas City

☆ YIMBY Movement Is Winning: Build More Houses, Lower Home Prices, Rents
▼ + stars: | 2023-09-07 | by ( Eliza Relman | Kelsey Neubauer | ) www.businessinsider.com time to read: +15 min

The adherents of the "Yes In My Backyard," or YIMBY, movement believe that America's housing crisis comes down to the fundamental tension between supply and demand. Today, nearly 75% of residentially-zoned land in the US is restricted to single-family housing — detached homes designed for one family. Folks are like, 'Oh, we're in a housing crisis for the very first time. Ground zero for the modern YIMBY movement was California, where sky-high home prices forced people to reconsider their attitudes toward development. The city didn't allow new multiunit buildings to be taller or wider than the single-family homes they replaced, making construction less financially attractive to developers.

Persons: Nolan Gray, YIMBYism, Sonja Trauss, Trauss, YIMBYs, NIMBYs, Gray, I'm, —, Bill, They've, Tayfun Coskun, Muhammad Alameldin, Emily Hamilton, We're unwinding, Jenny Schuetz, Greg Gianforte, California YIMBY, Republican Sen, Todd Young, Democratic Sen, Brian Schatz, Eliza Relman, Kelsey Neubauer Organizations: San, San Francisco Bay Area, Urban Institute, Twitter, of Regional Planning, Public, Cato Institute, University of California, Berkeley Terner Center, Housing, George Mason University, Conservative, Brookings Institute, Republican, Todd Young of Indiana, Democratic, Hawaii Locations: California, San Francisco Bay, San Francisco, I'm, Los Angeles County, Florida, Utah, Minneapolis, Oregon, Austin, Dallas, Seattle, Portland , Oregon, Denver, New York, Texas, YIMBYism, We're, Bozeman, Montana, Miami

☆ Instacart is going public. For real, this time.
▼ + stars: | 2023-08-18 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Instacart is reportedly planning to go public in an IPO as soon as September, per Bloomberg. The reported IPO plans come weeks after Instacart cut base pay for its shoppers to $4 per order from $7. Demand for grocery delivery rose in the early months of 2020 as consumers avoided going to stores and socially distanced to avoid catching and spreading COVID-19. Instacart reportedly filed for a direct listing in early 2022. Instacart CEO Fidji Simo cited the slow IPO market as one reason Instacart delayed its offering again, the Journal reported last October.

Persons: Instacart, You'll, we've, Fidji Simo Organizations: Bloomberg, Service, US Securities and Exchange Commission, CNBC, Morning, Wall Street Locations: Wall, Silicon

☆ New DoorDash customers are turning to the app for grocery deliveries and flowers, not just restaurant meals
▼ + stars: | 2023-08-09 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

DoorDash is seeing a surge in non-restaurant orders from new customers, including grocery and flower deliveries. The delivery company has 100,000 retail stores on its app, surpassing Instacart's 80,000 merchants. The company said more new customers are turning to the app for non-restaurant orders as DoorDash has grown its retail selection to more than 100,000 stores. In July, online grocery sales dropped 7% to $7.2 billion compared to July 2022 , according to the latest monthly Brick Meets Click/Mercatus Grocery Shopping Survey. Driving the downturn was delivery sales, which decreased 13.3% to $2.6 billion , according to the July survey released August 9.

Persons: Tony Xu, DoorDash, Xu, Grubhub, Uber, It's, Petco, Staples, Brittain Ladd, Instacart, confidentially Organizations: Service, Albertsons, Aldi, Target, Walgreens, Dollar Locations: Wall, Silicon, Stanford, PetSmart, North America

☆ The genius plan that could bring down skyrocketing home prices
▼ + stars: | 2023-08-07 | by ( Eliza Relman | ) www.businessinsider.com time to read: +15 min

Not only did this help to slow down skyrocketing housing costs, it inspired a bipartisan, nationwide expansion of the policy. Home prices in Auckland, New Zealand's biggest city, doubled between 2009 and 2016 and prices across the rest of the country followed close behind. "A typical New Zealand city looks a lot like a typical US city," Gray said. There are three models of housing construction in US cities right now, Gray said. "In terms of an overall objective, I think bringing down house prices to construction costs is an ultimate sign of housing abundance."

Persons: Upzoning, Jenny Schuetz, Matthew Maltman, who's, Ryan Greenaway, Guo Lei, Maltman, There's, Auckland's upzoning, Vicki Been, Bill de Blasio, Schuetz, Nolan Gray, Gray, let's, Brett Coomer, that's, Allison Zaucha, Freemark, we're, Emily Hamilton, Eliza Relman Organizations: Brookings Institute, Auckland, Economic, University of Auckland, New, National Party, Housing, Economic Development, New Zealand, California YIMBY, Urban Institute, Houston, Montana Republicans, George Mason University Locations: New Zealand, Auckland, Australian, Zealand, Auckland , New, New Zealand's, New York, Europe, California, Zealanders, San Francisco, Los Angeles, Phoenix, Houston, Atlanta, Denver, Seattle, Washington, Portland , Oregon, Montana, California . Utah, Minneapolis, New York City

☆ Austin is copying Houston's playbook for making housing more affordable
▼ + stars: | 2023-08-06 | by ( Eliza Relman | ) www.businessinsider.com time to read: +6 min

Demand for housing in Austin, Texas has outstripped even its relatively rapid housing production. Austin's upzoning measures are designed to incentivize "gentle density" — also known as infill housing or missing-middle housing. And even if you don't care about housing policy, you are feeling this in a very intimate way." Aerial view of neighborhood outside of Austin Texas. Most recently, Dallas city Council member Chad West is leading the charge to consider cutting minimum lot sizes in his city.

Persons: Austin, Jenny Schuetz, They've, Schuetz, Emily Hamilton, Nicole Nabulsi Nosek, Greg Anderson, there's, Joe Sohm, Anderson, Nosek, Chad West Organizations: Service, Apple, Brookings Institute, George Mason University, Reasonable, Austin Habitat, Humanity, Chad Locations: Austin , Texas, Texas, Wall, Silicon, Austin, Houston, Austin Texas, California, Dallas

☆ Fitch's downgrade of U.S. debt unlikely to have much economic impact — for now
▼ + stars: | 2023-08-02 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

While financial markets on Wednesday took a break from their monster rally of 2023, economists largely expect the impact on the economy to be minimal. Some even questioned the timing of Fitch's action, saying it seems to come after the biggest scare to whether the U.S. would meet its debt obligations has passed. Overall, this announcement is much more likely to be dismissed than have a lasting disruptive impact on the US #economy and #markets." It also cited the battles that warring congressional factions have had over the debt ceiling as well as budget standoffs. Goldman also said it does not see a meaningful impact on holders of Treasurys or other government-sponsored or municipal debt.

Persons: Mohamed El, Erian, Fitch, Veronique de Rugy, de Rugy, that's, Goldman Sachs, Goldman, There's Organizations: Poor's, Fitch, Allianz, Twitter, AAA, Mercatus, George Mason University, Treasury, Federal Reserve, Congressional, Moody's, Service Locations: U.S

WASHINGTON, June 1 (Reuters) - The bipartisan debt-ceiling deal that could clear Congress as soon as Thursday would stave off an imminent U.S. default, but might deliver less budget savings than Republicans have hoped for, according to nonpartisan budget analysts. The agreement ensures that President Joe Biden will not have to grapple with another debt-ceiling showdown until after the November 2024 election. That is less than the $4.8 trillion Republicans had initially sought, but still the largest deficit-reduction package since a 2011 deal that emerged from a similar debt-ceiling showdown. That would put more $1 trillion of the deal's anticipated savings at risk, according to the Penn Wharton Budget Model, a research group. The deal increases spending on defense and veterans' care, even as it aims to clamp down on other discretionary programs.

Persons: Joe Biden, Kevin McCarthy, MacGuineas, Biden, Veronique de Rugy, George Mason University's, Penn Wharton, McCarthy, Emily Gee, Andy Sullivan, Scott Malone, Alistair Bell Organizations: Penn Wharton Budget, White, Internal, Service, Office, Republican, SNAP, Social Security, Center for American, Thomson Locations: U.S, Washington

☆ Opinion | A Libertarian and I Debate the Debt Ceiling
▼ + stars: | 2023-05-16 | by ( The Ezra Klein Show | ) www.nytimes.com time to read: +1 min

On Jan. 19, the United States officially hit its debt limit. If the United States hasn’t raised or suspended its borrowing cap, known as the debt ceiling, by then, America will default on its debt. But Republicans are currently refusing to raise the debt ceiling until their policy demands are met. For years, she’s argued that the United States’ debt levels are far too high and has defended the debt ceiling as a way to rein them in. In my view, the debt ceiling is one of the most absurd and dangerous laws on the books.

☆ China's 'Belt and Road' grew out of a lending spree. Now those loans may be its problem
▼ + stars: | 2023-04-14 | by ( Sumathi Bala | ) www.cnbc.com time to read: +8 min

Bloomberg | Getty ImagesAt its peak, China's Belt and Road Initiative was seen as the centerpiece of Beijing's engagement with the world. According to the report, China issued 128 emergency rescue loans worth $240 billion to 22 countries — including Pakistan, Sri Lanka and Turkey, among others. 'Trying to salvage Belt and Road'Chinese efforts to revamp Belt and Road have been underway since 2020, according to one observer. "A nod to the concern that many Belt and Road projects were not economically viable to begin with. "The increased indebtedness in many Belt and Road countries is a direct consequence of Beijing's overshooting in the pre-2020 phase," said Zhong.

☆ The Fed faces a 'no-win situation' but must keep raising interest rates anyway, former FDIC and Fed official says
▼ + stars: | 2023-03-14 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

It’s a no-win situation for them,” Hoenig, the former vice chair of the Federal Deposit Insurance Corporation, told CNN in a phone interview on Monday. Raising interest rates at the Fed’s monetary policy meeting next week could add to the financial pressure facing the banking system, in part by further depressing the value of the bonds that banks are sitting on. But Hoenig, who led the Kansas City Fed during the 2008 financial crisis, urged the Fed to keep hiking rates because inflation hasn’t gone away. Nomura is going a step further, predicting the Fed will completely reverse course and start cutting interest rates next week and halt the shrinkage of its balance sheet. Hoenig said he would be “disappointed” if the Fed started to cut interest rates now, warning of “long-run consequences” that could invite a repeat of 1970s-style runaway inflation.

☆ How Trump allies and wealthy donors helped to fuel the GOP fight against ESG investing platforms
▼ + stars: | 2023-03-01 | by ( Brian Schwartz | ) www.cnbc.com time to read: +8 min

The conference was organized by the conservative leaning State Financial Officers Foundation, a tax exempt 501(c)(3) nonprofit group that does not publicly disclose its donors. Members of the State Financial Officers Foundations are all powerful state Republican officials, many of whom have scrutinized ESG practices or pulled back billions of dollars from investing firms. A representative for the State Financial Officers Foundation did not return a request for comment. Some of those organizations participated in a similar State Financial Officers Foundation gathering in Washington D.C. in November 2022, according to an agenda. One of the organizations that attended last February is the 1792 Exchange, a nonprofit sponsor of the State Financial Officers Foundation.

☆ U.S. inflation roller coaster prompts fresh look at long-ignored money supply
▼ + stars: | 2023-01-26 | by ( Michael S. Derby | ) www.reuters.com time to read: +4 min

The recent decline in the money supply comes as the Fed has been aggressively raising rates to push inflation back to its 2% target. That dynamic changed in the last two years, though, with money supply trends moving in roughly the same direction as inflation pressures: As money supply rose rapidly into early 2022, so did inflation; since M2 started a persistent decline last summer, inflation pressures have also receded. To be sure, measuring money supply is complicated, with no one way to do it. Bullard, acknowledging the cooling off of money supply, said this downshift in money "bodes well for disinflation," which means the Fed is likely to face an enduring trend of lower price pressures. Economists, meanwhile, are still taking on board whether money supply is something they need to pay greater mind to as they contemplate monetary policy and inflation.

☆ Amazon is rapidly opening new Whole Foods stores after halting Amazon Fresh's expansion, in a troubling sign for online grocery sales
▼ + stars: | 2023-01-18 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Whole Foods wants to triple the number of stores it opens, CEO Jason Buechel said Monday. Last year, Whole Foods opened 11 stores, according to industry publication Winsight Grocery Business. Last March, Amazon said it would close 68 stores, including all of its Amazon Books and Amazon 4-Star locations. Amazon has also reportedly paused new store openings for its Amazon Fresh grocery chain, The Information reported in December. "We are so bullish on our potential to continue to add stores," Buechel said according to Winsight.

☆ Walmart shoppers are flocking to stores for cheap groceries, while website visits languish — proving how vital its stores are in a tough economy
▼ + stars: | 2022-12-14 | by ( Ben Tobin | Alex Bitter | ) www.businessinsider.com time to read: +6 min

But while online shopping has dipped this year, more people have been flocking back to Walmart stores. According to estimates from Placer.ai, a location-data company, Walmart stores saw a 1% increase in the average number of daily shoppers through December 4 compared to the same year prior. But those customers are typically not buying food online, according to Yarbrough. Online food sales slowing across retailersWalmart is the top US grocer. The membership platform that launched in 2020 incentivizes online shopping by offering free delivery.

SINGAPORE, Nov 28 (Reuters) - Link Real Estate Investment Trust (0823.HK), Asia's biggest REIT, has emerged as the frontrunner to buy a portfolio of assets from Singapore shopping mall owner NTUC Enterprise Co-operative Ltd, multiple sources told Reuters on Monday. If Link REIT does buy, the assets will be its first in Singapore. Mercatus and Hong Kong-listed Link REIT declined to comment on the matter. Nearly three-quarters of its portfolio value is in Hong Kong. Link REIT has been on the prowl for assets in Singapore and other countries to diversify its portfolio.

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