From Breakingviews - Commercial property pain is only just beginning: podcast
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Commercial property pain is only just beginning by ViewsroomValuations of offices and shopping malls are under threat as rising interest rates ratchet up the cost of buying real estate. In this Viewsroom podcast, Breakingviews columnists discuss how inflation and remote working could make the crisis far worse than 2008.
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Breakingviews - IMF dashes hopes of growth reboundThe International Monetary Fund may have just hammered the final nail in the coffin of a complete economic rebound. With downside risks dominating its outlook, the IMF’s estimates dash any remaining hopes of a full recovery from recent years’ shocks.
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Breakingviews - Electric cars get a reality checkRegulators want to encourage electric vehicles by flattering them less. The U.S. Department of Energy has proposed tweaking a decades-old formula for calculating EVs’ fuel efficiency. The overhaul will lower electric mileage ratings – but could encourage automakers to ditch fossil fuels more quickly.
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Breakingviews - China reluctantly keeps sanctions powder dryAs the White House pushes on with sweeping export restrictions to contain China’s rise, President Xi Jinping is starting to retaliate. Officials are swatting U.S. firms like chipmaker Micron Technology and the Mintz Group, a due diligence investigator, but on balance Beijing has resisted wholesale scapegoating of American capital. Xi perhaps recognises he can ill-afford to indulge his temper for now.
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Breakingviews - Buffett breaks out of Japan’s value trapBerkshire Hathaway has upped its stake in iconic Japanese trading houses, according to an interview boss Warren Buffett gave the Nikkei newspaper on Tuesday. He has been steadily increasing his exposure in the country since his investment firm disclosed 5% positions in Itochu , Marubeni , Sumitomo Corp , Mitsubishi Corp and Mitsui & Co in August 2020, taking advantage of the country’s ultra-low interest rates. Refinitiv data shows Berkshire has nearly $8 billion worth of yen bonds outstanding with an average coupon of 1%.
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Breakingviews - UBS can score a quick win with Swiss saleOn Breakingviews: Credit Suisse’s Swiss business is theoretically the jewel in the bank’s tarnished crown. But for UBS Chair Colm Kelleher, getting rid of his rival’s local unit may nonetheless be the least-bad option, writes LiamWardProud
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