DIRS.INFO The most relevant business & tech news

☆ US Treasury's top international official heads to Europe, Asia for talks on economy
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, May 4 (Reuters) - The U.S. Treasury Department's top international official is heading to Europe and Asia this week for talks on current macroeconomic trends and events, and a G7 finance officials meeting, Treasury said in a statement on Thursday. Treasury Undersecretary for International Affairs Jay Shambaugh will attend meetings of the Organization for Economic Cooperation and Development in Paris on Friday, before traveling on to Singapore and Japan, Treasury said. The meeting takes place a month after the International Monetary Fund trimmed its 2023 global growth outlook slightly and warned that a severe flare-up of financial system turmoil could slash output to near recessionary levels. Shambaugh will join U.S. Treasury Secretary Janet Yellen at the G7 meeting in Niigata, Treasury said. Reporting by Andrea Shalal; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Google's 80-acre San Jose mega-campus is on hold as company reckons with economic slowdown
▼ + stars: | 2023-04-21 | by ( Jennifer Elias | ) www.cnbc.com time to read: +9 min

The city of San Jose may now be paying the price. CNBC has learned that, as part of Google's downsizing that went into effect early this year, the company has gutted its development team for the San Jose campus. By then, the company had already completed much of its multi-year land grab of downtown San Jose for the future campus. Google spent several years planning for the San Jose complex and invested significant resources in winning over the local community. "We all originally knew that it's going to be a long-term plan," San Jose councilmember Omar Torres, who represents the downtown area, told San Jose Spotlight in February.

☆ Omnicom to Reduce Global Real-Estate Space Even as Employees Return to the Office
▼ + stars: | 2023-04-19 | by ( Patrick Coffee | ) www.wsj.com time to read: 1 min

Omnicom plans to reduce its real-estate footprint by more than 1.6 million square feet, Chief Executive John Wren said. Photo: Omnicom GroupOmnicom Group Inc. said it will significantly reduce its real-estate footprint and formalize return-to-office requirements for all U.S. employees as the company said it expects growth to continue through 2023, an indication that executives believe marketers’ continued spending will help the advertising giant largely avoid the economic headwinds that have hit the tech and finance industries. Omnicom, which owns agencies such as BBDO, OMD and TBWA, will require all U.S. employees to return to the office at least three days per week, Chief Executive John Wren said on a call to discuss the company’s first-quarter earnings.

☆ Singapore’s rate pause points to new reality
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, April 14 (Reuters Breakingviews) - Singapore’s surprise decision on Friday to keep its monetary policy unchanged leaves one thing unsaid. The Lion City, whose trade volumes dwarf the size of its economy, joins Australia, India and South Korea in standing pat. Singapore has repeatedly warned this would damage the Lion City’s growth outlook. Prime Minister Lee Hsien Loong said in 2019 that it should prepare for these consequences and adapt to new global realities. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ IMF warns deeper financial turmoil would slam global growth
▼ + stars: | 2023-04-11 | by ( David Lawder | ) www.reuters.com time to read: +5 min

The IMF's U.S. outlook improved slightly, with growth in 2023 forecast at 1.6% versus 1.4% forecast in January as labor markets remain strong. "Our advice is for monetary policy to remain focused on bringing down inflation," IMF chief economist Pierre-Olivier Gourinchas told reporters. The report included two analyses showing financial turmoil causing moderate and severe impacts on global growth. This "moderate tightening" of financial conditions could slice 0.3 percentage point off of global growth for 2023, cutting it to 2.5%. This scenario could slash 2023 growth by as much as 1.8 percentage points, reducing it to 1.0% - a level that implies near-zero GDP growth per capita.

☆ Blackstone raises $30.4 billion for latest real estate fund
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

April 11 (Reuters) - Blackstone Inc (BX.N) said on Tuesday it had raised $30.4 billion for its latest global real estate fund, as the private equity behemoth looks to double down on the industry. The fund, called Blackstone Real Estate Partners X, is 48% bigger than the asset management giant's previous real estate fund which closed in 2019. "Sector selection has never been more critical as we witness the bifurcation of performance within real estate," Ken Caplan, global co-head of Blackstone Real Estate, said in a statement. Blackstone shares were up nearly 1% in premarket trading. Reporting by Niket Nishant in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Big real estate landlords are finally starting to decarbonize, creating an $18 trillion market that this Blackstone portfolio company plans to profit from at every turn
▼ + stars: | 2023-04-03 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +7 min

The Blackstone portfolio company Legence wants to be a one-stop shop for landlords. A Real Estate Board of New York study found that the total penalties could top $213 million. Its ICS became the strategic planner, its CMTA, which designed the first net-zero school in the United States, designed the upgrades, and its Gilbert Mechanical installed the new heating, cooling, ventilation, and lighting hardware. How to do itIt may still be a challenge to coordinate decarbonization processes, which don't come naturally to large-scale real-estate operators, Boland said. Legence plans to grow the business's geographic scope and increase its depth in current markets, including Colorado and California, Sprau said.

Organizations: & $

☆ Corporate Sustainability Becomes a Team Sport
▼ + stars: | 2023-03-15 | by ( Rochelle Toplensky | ) www.wsj.com time to read: +7 min

Chief sustainability officers have historically been technical experts focused on helping companies decode their carbon footprint. Today’s CSOs are business-transformation specialists who run point for companies in their sustainability efforts, supported by a team of experts. “You have to start thinking in 2022 about the demands that are going to be a trending topic in 2025.”Judith Wiese, chief people and sustainability officer at Siemens. His team includes experts in technology, industrial processes, financial markets, sustainability frameworks and reporting standards. Agustin Delgado Martin, chief innovation and sustainability officer at Iberdrola.

☆ Whole Foods, Other Grocery Stores Are Hot Property
▼ + stars: | 2023-03-14 | by ( Kate King | ) www.wsj.com time to read: 1 min

Grocery-store complexes, like the one Hines bought in White Plains, N.Y., are more attractive now as the pandemic winds down and in-person shopping returns. Global real-estate investment manager Hines is paying $112 million for a suburban New York shopping center featuring a Whole Foods, the largest grocery-anchored retail sale in the U.S. since September. The sale of the 262,000-square-foot property in White Plains, N.Y., shows how demand for grocery-store complexes persists, despite rising interest rates and slowing activity for other property types. These outlets have become increasingly attractive as the pandemic winds down and consumers return to shopping in person.

☆ A real estate investor whose firm says it holds $282 million in assets shares 8 insider tips that will give any beginner an edge, even if they have no cash to start
▼ + stars: | 2023-03-12 | by ( Laila Maidan | ) www.businessinsider.com time to read: +10 min

But unlike other investment opportunities, real estate appealed to him because there were numerous areas where an investor could exercise control to increase the return on their investment. "The reason why I like real estate investing compared to the stock market is that the stock market is incredibly efficient. "Whereas real estate can definitely be an inefficient marketplace where you can gain the advantage." Start in places like real estate associations that regularly host events, conferences, and even breakfasts in cities across the country. You don't need a university degree to become a real-estate investor, but you can give yourself a head start with a few courses.

☆ Commercial real estate's biggest investors are spending hundreds of millions of dollars on the grittiest land in America. Here's why.
▼ + stars: | 2023-02-09 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +11 min

Big commercial-real-estate players from Brookfield to Fortress are snapping up industrial land. Brookfield is one of several big-name investors that are paying increasing attention to lowly industrial land. Industrial land also generally has lower operating costs and taxes compared to other real estate. It's hard to find big enough portfolios of industrial landThere are challenges, too, in breaking into the business of owning industrial land. Atkins said he has been impressed by the robustness of the IOS market, even with fears about the broader economy.

☆ Salesforce is now facing the very real threat of activist shareholders overthrowing its board and forcing the sale of mega-acquisitions like Slack and Tableau
▼ + stars: | 2023-01-24 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +6 min

Salesforce is now being targeted by a second activist investor: Elliott Management. Activist investors could overhaul Salesforce's board and force it to divest acquisitions like Slack. The cloud software giant is now being targeted by activist firm Elliott Management, which has taken a big stake in the company. Walravens says that the activist firms could encourage Salesforce to rethink its office strategy. The company has invested a lot in a global real estate footprint including its Salesforce Tower headquarters in San Francisco.

☆ Sweden is facing its ‘day of reckoning’ as house prices plummet
▼ + stars: | 2023-01-11 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +7 min

But now property prices are tumbling. Sweden's property prices are facing a serious drop as the country's former central bank governor warns of lofty household debt levels. Central bank rate hikesIn 2022, Sweden's central bank undertook an aggressive interest rate hiking cycle that ricocheted through the property market. So basically once the interest rate is stabilised, we don't expect prices to continue declining," Brodin said. Sweden isn't the only European country experiencing a plunging property market post-pandemic, with some economists forecasting a similar downturn of between 20% and 25% in Germany.

WHITE HOUSE RUNOn Nov. 15 Trump launched his campaign for the Republican nomination to take on Democratic President Joe Biden. NEW YORK CRIMINAL PROBEAfter Tuesday's verdict in the tax fraud case, the New York state judge set sentencing for Jan. 13. GEORGIA ELECTION TAMPERING PROBEA special grand jury was empanelled in May for a Georgia prosecutor's inquiry into Trump's alleged efforts to influence that state's 2020 election results. Trump asked Raffensperger to "find" enough votes needed to overturn Trump's election loss in Georgia. Legal experts said Trump may have violated at least three Georgia criminal election laws: conspiracy to commit election fraud, criminal solicitation to commit election fraud and intentional interference with performance of election duties.

☆ Germany's housing market is ripe for a serious price correction, economists warn
▼ + stars: | 2022-12-05 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +6 min

"The housing market is softening significantly," he said, citing a strong decrease in demand for loans and a drop in housing construction. watch nowAnd while the language used may vary, many analysts are forecasting a dip in Germany's housing market. A Reuters poll of property market experts last month anticipated German house prices would fall by 3.5% next year. A 'vulnerable' market But not all financial institutions agree that Germany's property market is set for a large correction. The labor market is key Moves in the labor market will determine how the property market shifts, according to some analysts.

☆ A house price slump is coming. Rising unemployment could make it much worse
▼ + stars: | 2022-11-23 | by ( Hanna Ziady | ) edition.cnn.com time to read: +10 min

Brendon O'Hagan/Bloomberg/Getty ImagesNew Zealand is at the sharp end of a global housing market squeeze that has grim ramifications for the world economy. “In an ideal world, you’ll get a bit of froth blown off the top [of house prices] and everything is fine. “A decisive increase in unemployment is a very big danger for housing markets,” said Slater of Oxford Economics. Qilai Shen/Bloomberg/Getty ImagesA drag on the economyMost market watchers are not expecting a repeat of the 2008 housing market crash. But even a modest a fall in house prices will knock confidence, causing homeowners to cut back on spending.

☆ Florida faces a slew of insurance problems post-Hurricane Ian
▼ + stars: | 2022-11-21 | 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 EmailFlorida faces a slew of insurance problems post-Hurricane IanDanielle Lombardo, the head of global real estate at Lockton, joins 'Power Lunch' to discuss how Hurricane Ian has exasperated insurance pricing in Florida, the exodus of reinsurers in Florida and ongoing fraud issues in Florida.

☆ Asia-Pacific will lead global economic growth in 2023, S&P says
▼ + stars: | 2022-10-27 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

Ed Jones | AFP | Getty ImagesEconomies in Asia-Pacific will dominate global growth in the upcoming year, according to S&P Global Market Intelligence. S&P predicts the region will achieve real growth of roughly 3.5% in 2023, while Europe and the U.S. will likely face recession. The firm trimmed its growth forecast for global real GDP by 0.6 percentage point from last month's forecast of 2% — and now expects to see 1.4% growth in 2023. That's a steep decline from 5.9% global growth in 2021 and even slower than the 2.8% growth S&P expects for 2022. "With moderate growth in Asia-Pacific, the Middle East, and Africa, the world economy can avoid a downturn, but growth will be minimal," said Sara Johnson, executive director of economic research, S&P Global Market Intelligence.

☆ Flying taxis, robotic avatars and holograms — Saudi Arabia pushes ahead with its sci-fi city vision
▼ + stars: | 2022-10-25 | by ( Emma Procter | ) www.cnbc.com time to read: +6 min

The future Site of the city Neom, a planned cross-border city, stands empty before development begins in the Tabuk Province of northwestern Saudi Arabia, December 18, 2019. NEOM political map of the 500 billion dollar megacity project in Saudi Arabia along the Red Sea coast. Granger's firm has been working closely with Neom and she believes the view of Saudi Arabia among the business community has changed inexorably. The aim is to transform and grow the kingdom's media industry — another key focus of the Vision 2030 plan. Visitors watch a 3D presentation during an exhibition on 'Neom', a new business and industrial city, in Riyadh, Saudi Arabia, October 25, 2017.

☆ 'It's difficult to be optimistic': A UBS real estate head shared just how much downside US home prices have in his 2023 housing market outlook
▼ + stars: | 2022-10-20 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Matthias Holzhey of UBS shared his outlook for the US housing market in 2023. The sky might not be falling yet in the US real estate market, but home values will soon start to, warns a new report from UBS. "Prices look overvalued," said Matthias Holzhey, the head of Swiss real estate at UBS Global Wealth Management, in a recent interview with Insider. How to navigate the housing market in 2023There are four more key drivers of demand in the housing market, Holzhey said: income growth, risk asset returns, interest rates, and psychology. However, today's real estate market bears little resemblance to past markets.

☆ Blackstone and Prologis turned warehouses from safe and boring investments into white-hot assets. Now they're battling to see who can own more.
▼ + stars: | 2022-10-19 | by ( Alex Nicoll | Danielle Walker | Daniel Geiger | ) www.businessinsider.com time to read: +11 min

In other words, big money is buying up warehouse space as fast as smaller owners can sell. The coronavirus pandemic accelerated this change, with warehouse investment outpacing office investment in 2020 and 2021, according to CBRE. A Prologis warehouse in Ichikawa City, Japan. Prologis, Blackstone, and the rest of big money duke it outOther big-money investors have increasingly invested in warehouses. The UK's Segro once sold warehouse space to Blackstone — now it's acquiring its own warehouses for last-mile delivery that Blackstone might have otherwise picked up for itself.

☆ The EU wants to limit spiking gas prices after 'excessive' moves this summer
▼ + stars: | 2022-10-18 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

The EU is working on new measures to mitigate gas prices. The European Commission, the executive arm of the EU, proposed Tuesday setting a limit on daily gas trading levels. European natural gas prices were trading around 120 euros per megawatt hour Tuesday. A second EU official also told reporters that the commission wants to do "something meaningful, but not harmful" to the market. The EU used to import about 40% of its natural gas from Russia; that number is now at around 7%.

☆ Xi wanted China to be at the tech frontier. 5 years on, tensions with the U.S. have dented that goal
▼ + stars: | 2022-10-14 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +10 min

Major Chinese technology firms have been put on export blacklists since then. Looking ahead, the latest package of U.S. controls will make a huge dent in China's technology ambitions. Paul Triolo technology policy lead, Albright StonebridgeThings did not look as "bleak" for China's semiconductors in 2017 as they do now, Triolo said. China's tech crackdownA major hallmark of Xi's last five years is how he has transformed China into one of the strictest regulatory regimes globally for technology. China's technology giants are also posting their slowest growth in history, partly due to tighter regulations.

☆ Only one city has foiled Blackstone's $320 billion real estate empire
▼ + stars: | 2022-10-01 | by ( Dan Latu | ) www.businessinsider.com time to read: +4 min

Danish parliament even passed a "Blackstone law," which prevents new landlords from raising rents. Blackstone has one of the largest real estate portfolios in the world, with $320 billion invested in commercial and residential properties spanning the US, Spain, and, at one time, Sweden. In the Guardian, reporter Hettie O'Brien details how a Copenhagen tenants group thwarted Blackstone's expansion, aided by a national political mood wary of international investors. Blackstone's journey to becoming a worldwide player in residential real estate began after it seriously invested in American properties following the 2008 housing and stock-market crash. Blackstone's involvement in the Copenhagen housing market angered locals for two reasons, according to the Guardian.

☆ Housing might be struggling in China but there are green shoots in commercial property
▼ + stars: | 2022-09-13 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +7 min

Commercial property is a bright spot in Chinese real estate, in contrast with the doom and gloom of the residential housing market. Likewise, property group CIFI Holdings posted a 23% year-on-year drop in home sales in China for the first half, but reported a 69.5% lift in its property investment revenue. While some investors sold assets to stay liquid, Spiro said the commercial sector generally has more supportive government and fiscal policies. All in all, the Chinese commercial property sector's resilience lies in its ability to rebound faster than its residential counterpart. Down but not outBut unlike housing, the commercial sector is rebounding particularly after lockdowns ended and government incentives kicked in, CBRE said.

Search resuls for: "Global Real"

25 mentions found