Beijing’s orchestrated collapse of the indebted property developer is an attempt to limit contagion
Rising research costs could also weigh on ESG vehicles, analysts say
Brexit’s final impact on the City will depend partly on Brussels’ determination to reduce dependence on the UK
As employers and employees established ways of working remotely to limit physical interaction during outbreaks of Covid-19, teleworking became increasingly routine. This column examines how corporate real-estate market participants adjusted to the growth of teleworking in France, and finds that it has already made a noticeable difference in office markets. In départements more exposed to telework, the pandemic prompted higher vacancy rates, less construction, and lower prices. Forward-looking indicators suggest that market participants believe the shift to teleworking will endure.
Shortages in material and equipment weighed heavily on activity and sentiment in the European economy in 2021. This column uses cross-country and cross-sector data from the European Commission’s Business and Consumer Surveys and finds a strong negative relationship between shortages and industrial output. Shortages appear to have detracted some 5 percentage points from the EU manufacturing output growth between January and October 2021.
An important vulnerability of the EU economy is high public debt levels. This column proposes revisions to the EU fiscal rules to stimulate debt reduction, which would create budgetary room for stabilisation and growth-promoting spending and also support growth convergence among member states. Climate investment should not interfere with the fiscal rules but be financed through an EU fund, in line with the idea of subsidiarity. It should co-exist with uniform pricing of all greenhouse gas emissions.
Economic output climbed 4 percent in the last quarter of 2021, slowing from the previous quarter. Growth has faltered as home buyers and consumers become cautious.
Head of world’s biggest asset manager defends ‘stakeholder capitalism’ in annual letter to chief executives
Bank’s chair resigned after board lost confidence over quarantine breaches and jet use
Homeowners’ struggles demonstrate challenge of cooling sector without damaging wider economy