LONDON (Reuters) – Empty offices globally should be converted to apartments to address a growing housing crisis in many countries, property executives told the World Economic Forum in Davos on Wednesday. Commercial real estate values are sliding as an economic downturn reduces demand for space among cost-conscious companies, whose employees have been spending fewer days…
MUMBAI (Reuters) -Private equity company Blackstone Inc said it has fully acquired the jewellery certification firm International Gemological Institute (IGI) from China’s Fosun and the company’s founding family. Blackstone bought IGI, whose majority revenue and profits come from India, for about $530 million, a person with direct knowledge of the matter said on condition of…
(Reuters) – Intel and the German government are close to an agreement for the chipmaker to receive 9.9 billion euros ($10.83 billion) in subsidies, up from a previously agreed 6.8 billion, Handelsblatt reported on Thursday, citing government sources. Final negotiations will take place this weekend, the newspaper reported, with Intel Chief Executive Pat Geisinger and…
(Reuters) – Specialty glass maker Corning Inc beat profit estimates for the first quarter on Tuesday as price hikes more than made up for higher raw material costs and a demand slowdown. Shares of the company, whose Gorilla glass is used in smartphones of companies including Apple Inc and Samsung Electronics, rose 2% in premarket…
By David Lawder WASHINGTON (Reuters) – U.S. goods exports to China fell in December, cementing a massive shortfall in Beijing’s two-year purchase commitments under the “Phase 1” trade deal negotiated by former President Donald Trump’s administration. The U.S. Census Bureau said on Tuesday that the United States’ 2021 goods trade deficit with China rose by…
KYIV, Ukraine (AP) — From the battlefronts of Ukraine comes rap music — filled with the anger and indignation of a young generation that, once the fighting is done, will certainly never forget and may never forgive. Ukrainian rapper-turned-volunteer soldier Otoy is putting the war into words and thumping baselines, tapping out lyrics under Russian…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The dollar slipped against the euro for a third straight session on Tuesday, following a Reuters story that European Central Bank policymakers are considering raising interest rates by a bigger-than-expected 50 basis points at their meeting on Thursday to tame record-high inflation. The rebound in the euro,…
NEW YORK (AP) — An unexpected and potentially ominous pullback in customer spending ahead of the holiday shopping season pushed third-quarter profits at Target down 52% after it was forced to slash prices with Americans feeling the squeeze of inflation. The Minneapolis retailer voiced caution about its sales and profit during the fourth quarter because…
By Nicolás Misculin BUENOS AIRES (Reuters) – The Clooney Foundation for Justice has accused Venezuelan security forces of crimes against humanity against government opponents since 2014 in a legal complaint filed in Argentina on Wednesday. The foundation said that for lack of a response from Venezuelan authorities, it filed the complaint in Argentina where universal…
(Reuters) -Blackrock Inc has put off the launch of an exchange traded fund (ETF) that invests in Chinese bonds, amid growing tension between Washington and Beijing, the Financial Times said on Saturday. The world’s largest money manager has “indefinitely” shelved the ETF, the newspaper said, citing people familiar with the decision. According to one of…
