Fresh Stimulus Propels Emerging Markets to Fourth Week of Gains
Emerging-market currencies dipped Friday on dwindling optimism over Federal Reserve rate cuts, paring their fourth-straight week of gains.
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Emerging-market currencies dipped Friday on dwindling optimism over Federal Reserve rate cuts, paring their fourth-straight week of gains.
The owner of a historic office building in Manhattan’s Financial District has filed bankruptcy to sell the property, which has been subject to foreclosure and suffered from a lack of tenants due to the Covid-19 pandemic.
Deutsche Bank AG has entered a capital-relief deal with the European Investment Bank that allows the German lender to grant discounts on more than €600 million ($652 million) of green mortgages in its home market.
A unit of Abu Dhabi’s Mubadala Investment Co. said it anticipated a roughly $315 million credit hit related to loans issued to the now-insolvent Signa real estate conglomerate.
The Teranet-National Bank composite house price index which tracks home prices in 11 of Canada's largest cities remained stable from March to April.
Nov 12, 2020
Bloomberg News
,WeWork Cos. saw its overall membership and its revenue shrink in the third quarter compared to the quarter before, as the pandemic continues to hammer the co-working company.
New York-based WeWork told its employees that while sales of new desks ticked up slightly for the quarter, its quarterly revenue was down 8 per cent and its membership totals were down 11 per cent from the prior three months, according to a staff email seen by Bloomberg.
“While COVID continues to present unique and uncertain challenges that we must actively manage, our results this quarter show signs of select key metrics stabilizing,” WeWork Chief Executive Officer Sandeep Mathrani and the company’s new chief financial officer, Benjamin Dunham, wrote in the email.
After a failed attempt at an initial public offering a year ago, WeWork has aggressively sold off some of its acquisitions, closed some business lines, eliminated thousands of jobs and cut other expenses. Mathrani told reporters last month that the company is still aiming to be profitable next year and is eyeing an IPO after it reaches that milestone.