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Meituan and Chow Tai Fook Jewellery Group Ltd. are set to provide insights into China's consumer sentiment amid a slow economic recovery, ongoing property issues, and unstable employment. Despite a notable increase in retail sales in October, consumer spending remains cautious, as government stimulus has yet to significantly enhance income levels, according to Boston Consulting Group.
The Far East Shopping Center on Orchard Road, once vibrant, now struggles with high vacancy rates and low foot traffic, reflecting a broader trend among older malls in the area. Redevelopment plans are underway, driven by financial incentives from the Urban Redevelopment Authority, aiming to revitalize the Tanglin section with mixed-use developments and enhanced pedestrian experiences. Significant investments are anticipated, as the area seeks to adapt to evolving consumer preferences and improve connectivity to key attractions.
Tokyo Metro Co. is pursuing growth through mergers and acquisitions, as well as investments, following its recent stock exchange listing. President Akiyoshi Yamamura emphasized that this move will enhance trust with partners and expand opportunities, while also highlighting the need to strengthen areas beyond the railway business, such as real estate and distribution.
Howard Lutnick, CEO of Cantor Fitzgerald LP, plans to step down from his businesses and divest his interests in BGC Group Inc. and Newmark Group Inc. if confirmed as commerce secretary in Donald Trump's administration. He intends to retain his shares rather than sell them on the open market.
One Vanderbilt in New York City has been valued at $4.7 billion following a recent stake sale. This significant valuation underscores the building's prominence in the city's skyline and its appeal to investors. The transaction highlights ongoing interest in high-value real estate assets in urban centers.
On Friday, traders are advised to consider strategies for stocks including Ashok Leyland, DLF, HFCL, NALCO, Shilpa Medicare, and CDSL. Additionally, there is an option to receive push notifications for relevant content and transaction updates.
Sales of previously owned US homes increased by 3.4% in October, marking the largest rise since February, as buyers capitalized on a drop in mortgage rates. The annualized rate reached 3.96 million, aligning with economists' expectations, following a period of weak sales not seen since late 2010.
Home sales rose 3.4% in October, reaching an annualized rate of 3.96 million units, marking the first annual increase in over three years. This surge followed a drop in mortgage rates, although current rates have climbed to 7.05%. Inventory increased by 19.1% year-over-year, but tight supply continues to pressure prices, with the median home price at $407,200, up 4% from last year.
Carson Block warns that apartment complexes in the Sun Belt are poised to become the next significant issue in the commercial real estate market, following the struggles faced by office spaces. He notes that many properties were already trading at negative capitalization rates prior to the pandemic, indicating underlying financial challenges.
Karnataka Chief Minister Siddaramaiah launched the Karnataka Milk Federation's Nandini brand in the Delhi-NCR market, offering competitive prices to attract customers. The cooperative will sell various cow milk variants, curd, and buttermilk, with cow milk priced at Rs 56 per litre and curd at Rs 74 per kg. KMF plans to market 3-4 lakh litres of surplus milk daily in the region.
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