Even with a vacancy rate just below 25 percent, the assessed value of Manhattan’s office buildings has crept up from $202.3 billion to $204.8 billion since July 2020, when the COVID War sent workers home and market values sliding.
Tag: Economy
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TOP TREND 2024: EV GO FU
Despite a 32-percent plunge in sales in China, Honda Motor reported an 8.7-percent year-on-year gain in profits in its fiscal first quarter.
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SPOTLIGHT ON EUROPE: ECONOMIC DOWN TIME
Rising sales outside of Europe will offset an auto industry slump across the continent this year, German car parts manufacturer Continental AG said last week.
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INVESTORS BAIL OUT OF JAPANESE “CARRY TRADES”
The rising value of Japan’s yen currency is sending investors fleeing from an estimated $500 billion in “carry trades” that had been reliably profitable before the Bank of Japan (BoJ) raised its interest rate last week and strengthened the yen.
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SPOTLIGHT: BIGS GETTING BIGGER
Private equity firms have committed to $2 trillion worth of deals that they have not yet funded, data service Preqin reported.
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TOP TREND 2023, SELF-SUFFICIENT ECONOMIES: CHINA’S SOLAR FARMS ARE CROWDING OUT CROPS
As part of its relentless obsession with building infrastructure, in 2023 China installed more solar panels than the U.S. has in its history—217 million kilowatts, more than half of all the solar capacity the world added last year.
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
After slowing steadily for months, China’s factory production actually contracted in July, according to the Caixin S&P Global purchasing managers index (PMI).
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SPOTLIGHT: BIGS GETTING BIGGER
German conglomerate Robert Bosch has agreed to pay $8.1 billion to take over the heating and air systems business now owned by a partnership between Hitachi and Johnson Controls International.
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SPOTLIGHT: TOP TREND 2023, OFFICE BUILDING BUST
Deutsche Bank will see loan losses equivalent to 0.30 percent of the value of its loan portfolio this year, the bank said last week. Earlier, it had warned of losses that could be as low as 0.25 percent.
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SPOTLIGHT: BIGS GETTING BIGGER
This year’s surge in mergers and acquisitions has rewarded Goldman Sachs with a 150-percent gain in its second-quarter profits, lifting them to $3 billion.