About $175 billion of real estate debt is classified as “distressed,” meaning there is a growing likelihood of it not being repaid, according to data compiled by Bloomberg.
Tag: Economy
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SPOTLIGHT: TOP TREND 2023, OFFICE BUILDING BUST
In 2022’s fourth quarter, the proportion of Canada’s office space sitting empty reached a record 17.1 percent, according to real estate services firm CBRE, even though the country’s economy has fully reopened from its COVID-era lockdowns.
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SPOTLIGHT: GOING NUCLEAR—SWEDEN MULLS LIFTING RESTRICTIONS ON NUCLEAR POWER PLANTS
Sweden’s parliament will consider a law that would erase limits on the number of nuclear reactors the country will allow.
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SPOTLIGHT, TOP 2023 TREND: GOING GREEN
States and localities that lost manufacturing jobs to Asia in past decades are getting some back now as the U.S. battery industry flourishes.
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SPOTLIGHT, TOP TREND 2023: GOING NUCLEAR
Sweden said it is prepared to dramatically increase its domestic nuclear energy production and expressed hope for France, Europe’s top producer, for help to achieve its goals.
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INFLATION SLOWS IN EUROPE AS ENERGY PRICES FALL
Inflation in France eased to 6.7 percent in December, down from 7.1 in November, because prices for oil and gas fell, as we detail in “Oil and Gas Prices Fall in U.S., Europe” in this issue.
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ASIAN FACTORY OUTPUT SHRINKS UNDER SLUGGISH GLOBAL DEMAND
In December, the S&P Global Market Intelligence purchasing managers index (PMI) for manufacturing in Vietnam slipped to 46.4 from 47.4 in November, its lowest rating since September 2021.
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WORLD FOOD PRICES SET RECORD IN 2022
The UN Food and Agriculture Organization’s (FAO’s) food price index, which tracks costs of the world’s most common commodity foods, jumped 14.3 percent last year to bring food prices to their highest on record.
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SPOTLIGHT: BIGS GETTING BIGGER
U.S. biotech giant Amgen has bought Horizon Therapeutics, a maker of drugs that treat rare autoimmune and inflammatory illnesses, for $28.3 billion, Amgen’s priciest purchase to date.