Saudi Arabia’s Public Investment Fund has partnered with private equity firm Ardian to buy 37.6 percent of London’s Heathrow airport, one of the world’s busiest transit hubs.
Tag: U.S. economy
SPOTLIGHT ON THE U.S. HOUSING MARKET: SALES FALL, PRICES RISE
The median selling price of U.S. homes in May was $419,300, the National Association of Realtors (NAR) reported, the highest on record and 5.8 percent above the price a year earlier.
FACTORY OUTPUT INCREASED IN MAY
Although retail sales slipped 0.1 percent last month, industrial production increased 0.9 percent, more than twice economists’ 0.4-percent forecast and reversing a decline in March and flat output in April.
RETAIL SALES FALL FLAT IN MAY
U.S. retail sales increased by a scant 0.1 percent in May as retailers had to offer more discounts to entice cash-strapped consumers to buy, the commerce department reported.
MILITARY AID IS BALLOONING U.S. BUDGET DEFICIT
U.S. military aid to Israel and Ukraine is helping to push this fiscal year’s budget deficit from the $1.4 trillion estimated in February to $1.9 trillion, the nonpartisan Congressional Budget Office (CBO) has projected.
THE AMERICAN MIDDLE CLASS IS VANISHING, PEW STUDY FINDS
The U.S. middle class, considered the economic home of most Americans and the engine of the nation’s economy, has been shrinking for 50 years, according to a new study by the Pew Research Center.
ECONOMIC UPDATE—MARKET OVERVIEW
Dot.com Bust 2.0 coming? Not according to The Street. It’s a Nvidia world of AI... which is no surprise to Trends Journal subscribers. “AI WE OWN YOU” was a Top Trend for 2023.
SPOTLIGHT: BIGS GETTING BIGGER
Kirin Holdings, which owns a variety of alcoholic beverage brands in Japan, is paying the equivalent of $1.4 billion to take over FANCL Corp., a maker of cosmetics and dietary supplements.
TOP TREND 2023, OFFICE BUILDING BUST: SPECULATORS BUY TROUBLED OFFICE BUILDINGS AT BARGAIN PRICES
As the market for office buildings crashes, speculators are now buying select properties they think will rebound in value when the crash hits bottom.
AFTER BAD YEAR, AMTRAK PAYS MILLIONS IN EXECUTIVE BONUSES
After losing $1.7 billion in 2023 and failing to meet targets upgrading its Acela service between Boston and Washington, Amtrak paid $5 million in executive bonuses, including more than $200,000 to each of 14 top managers...