DIRS.INFO The most relevant business & tech news

Yet labour markets are softening, the euro zone faces recession and China's property sector is in crisis. Here's what some closely-watched market indicators say about global recession risks:1/ AMERICAN EXCEPTIONALISM? Britain's economy avoided the start of a recession in the third quarter but still failed to grow. Economists broadly expect the global economy to slow next year but avoid a recession. If supply shocks resulting from the Israel-Hamas war become severe enough to push Brent crude to $150, a level it has never breached, a "mild and fleeting" global recession could result, Oxford Economics reckons.

Persons: Brendan McDermid, Guy Miller, COVID, Zurich Insurance's Miller, Torsten Slok, Austria's, David Katimbo, We've, Brent, Yoruk Bahceli, Dhara Ranasinghe, Naomi Rovnick, Alexandra Hudson Organizations: Wall, REUTERS, Zurich Insurance, Reuters, Traders, U.S . Federal Reserve, ECB, Apollo Global Management, P, Sweden's SBB, HK, Bank of England, Business insolvencies, EdenTree Investment Management, Oxford Economics reckons, Reuters Graphics Reuters, Alexandra Hudson Our, Thomson Locations: New York, U.S, China, Zurich, England, Wales, Europe, Israel

☆ Sweden's SBB posts bigger Q3 loss
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Marie Mannes/File Photo Acquire Licensing RightsSTOCKHOLM, Nov 13 (Reuters) - Debt-laden Swedish property group SBB (SBBb.ST) reported a widening of its pre-tax loss in the third quarter on Monday. The landlord, which owns properties across Sweden including hospitals and care homes, reported a pre-tax loss of 3.13 billion Swedish crowns ($287 million) for continuing operations, compared to a loss of a revised 2.56 billion a year ago. This was weaker than Carlsquare analyst Bertil Nilsson's expectation of a loss of 2 billion crowns. SBB slashed its property values by 3.52 billion crowns in the quarter, after analysts had warned property values in the sector could continue to see pressure from high interest rates. Its net operating income came in at 0.93 billion crowns, down from revised 1.02 billion a year earlier.

Persons: Marie Mannes, Bertil Nilsson's, Greta Rosen Fondahn, Terje Solsvik Organizations: SBB, REUTERS, Rights, Brookfield, Thomson Locations: Stockholm, Sweden, Rights STOCKHOLM, Swedish

Now it is at the epicentre of a property crash that threatens to engulf the Nordic state's economy. It has said it plans on selling roughly 6 billion Swedish crowns worth of assets this year. Speculators are betting that the stock price has further to fall. SBB shares are subject to more short-selling - a bet that the stock price will drop - than any other Swedish company, according to data from the financial regulator. "If, on the other hand, the SBB will be bought up, then the small shareholders will probably lose everything."

Persons: Maria De Geer, who've, Ilija Batljan, Batljan, Robert Bergqvist, SEB, Leiv Synnes, pare, De Geer, Pablo Mayo, Elaine Hardcastle Organizations: SBB, Swedish Shareholders Association, Organisation for Economic Cooperation, Development, Asset Management, SBB Treasury Oyj, Reuters, Thomson Locations: STOCKHOLM, FRANKFURT, Sweden, Swedish, Cerqueiro, London

☆ What could break as interest rates rise?
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +5 min

Sweden, where rates rose again on Thursday, is one to watch with most homeowners' mortgages moving in lockstep with rates. Reuters Graphics2/ REAL ESTATE: PART 2Having taken advantage of the low rates era to borrow aplenty and buy up property assets, the commercial real estate sector is grappling with higher debt refinancing costs as rates rise. "The single most important thing is interest rates. But not just interest rates; what it is equally important is the predictability of rates," said Thomas Mundy, EMEA head of capital markets strategy at real estate firm JLL. "If we were settled on an interest rate, real estate prices could adjust.

Persons: Richard Portes, Thomas Mundy, Banks, Florian, Ielpo, Jerome Powell, Markus Allenspach, Julius Baer, Nick Kraemer, Wagner, Vladimir Putin's, Putin, Tina Fordham, Chiara Elisei, Naomi Rovnick, Nell Mackenzie, Karin Strohecker, Vincent Flasseur, Kripa Jayaram, Sumanta Sen, Pasit, Dhara Ranasinghe, Alison Williams Organizations: International Monetary Fund, Reuters, Federal, Finance, London Business School, Lombard, Federal Reserve, Casino, Sweden's SBB, Fordham Global Foresight, Thomson Locations: Britain, Norway, Russia, Sweden, lockstep, London's, City, RUSSIA, Ukraine

Search resuls for: "Sweden's SBB"

4 mentions found