UK Construction Orders Slump at the Sharpest Pace in Three Years
UK construction companies suffered the biggest plunge in new orders in more than three years after a prolonged slump in housebuilding weighed heavily on the sector.
Bloomberg Business
India Plays Down Xi and Putin’s Absence at G-20 Leaders Summit
India’s top diplomat S. Jaishankar said the absence of Chinese President Xi Jinping and Russian President Vladimir Putin at the Group of Twenty summit would not detract from its importance.
Telefonica Rises After Saudi Telecom Buys $2.25 Billion Stake
Telefonica SA’s shares rose after Saudi Telecom Co. took a stake worth $2.25 billion in the Madrid-based carrier as it prepares to lay out a new strategy for future growth.
Accused Money Launderer Funded Singapore Luxury Apartments
A Turkish national arrested in Singapore’s S$1.8 billion ($1.3 billion) money laundering case had financed the purchase of 11 luxury condominium units in upscale neighborhoods of the city-state, according to an affidavit by a police investigator.
The Mideast Power Brokers Who Control $2.7 Trillion in Assets
The Middle East is home to some of the world’s largest sovereign wealth funds. Overseeing close to $3 trillion of assets, these investing giants have become key players in global dealmaking.
Hong Kong Office Woes Mount as Most Tenants Shun Expansion
(Bloomberg) — Hong Kong office tenants from financial institutions to manufacturers are cautious about expanding their existing space, according to a survey, reflecting another headwind for the city’s troubled commercial real estate market.
China’s Boozy Latte Frenzy Sends Luckin Coffee Shares Surging
US-listed shares of Luckin Coffee Inc. jumped to the highest in more than three years after it rolled out an alcohol-infused latte with Kweichow Moutai Co. as the latter seeks to boost its appeal with a younger crowd.
Inpex to Consider US Ammonia Plant and Green Investments
Japanese oil and gas developer Inpex Corp. will consider building an ammonia plant in the US, as it seeks to benefit from green subsidies and lift supply of a fuel intended to help curb emissions.
EU Lending Arm Says It Will Resist Pressure to Invest in Weapons
A senior official at the European Investment Bank said that the EU’s lending arm will resist pressure to invest in the defense industry, though he suggested “dual-use” technology that aids civilian security remains worthwhile.
New Zealand Needs Immigrants to Fill Skills Shortages, Hipkins Says
New Zealand needs immigrants to fill skills shortages, Prime Minister Chris Hipkins said, indicating he won’t seek to actively curtail a record inflow of foreign workers if he wins next month’s election.
