Independent thinking for complex markets and current events
A number of foreign firms that once rushed into China to catch a rising tide are now retrenching. Last month, the beauty retailer Sephora, an arm of the French luxury group LVMH, announced that it was cutting jobs because of “the challenging market.” IBM is shutting its two research and development centers in China. And …
The ailing office market is headed for $1 trillion of losses, billionaire and Starwood Capital CEO Barry Sternlicht said. Per Bloomberg, Sternlicht said at the Global Alts conference in Miami Beach that US office properties, once a $3 trillion market, are worth about $1.8 trillion now. The cratering values have been the result of remote work being …
Wow China 🇨🇳 pic.twitter.com/GoChZbeQhP — Win Smart, CFA (@WinfieldSmart) September 22, 2023 Bankers’ 40% pay cuts show the China dream fading in its richest cities. Eurozone 🇪🇺 Consumer Confidence pic.twitter.com/q5ulxiPiu1 — Win Smart, CFA (@WinfieldSmart) September 22, 2023 Total household debt in the US is at a record-high of $17.06 trillion: pic.twitter.com/i2tran0ocG — unusual_whales (@unusual_whales) …