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(Bloomberg) -- Global real estate investment fell by 33% in the first half as the coronavirus pandemic battered economies and disrupted deals.The Asia-Pacific region took the biggest hit, with volumes down 45% from the year-earlier period, because it was the first struck by the outbreak, according to a report from broker Savills Plc. Investment dropped by 36% in the Americas and 19% in Europe, the Middle East and Africa.With the tourism industry shut down for months by government lockdowns, hotels saw investment decline by 59% in the first half of the year, followed by a 41% drop for retail properties, according to the Savills report. Industrial and residential properties fared better.Investment is “expected to remain well below pre-pandemic levels for the rest of 2020 as investors wait for market clarity,” Simon Hope, Savills head of global capital markets, said in a statement on Monday. “However, certain sectors are expected to outperform...
Stock futures opened higher Sunday evening as investors looked ahead to a packed week of earnings, stimulus talks and congressional testimony from Covid-19 vaccine developers....
(Bloomberg Opinion) -- As the coronavirus pandemic continues, Bloomberg Opinion will be running a series of features by our columnists that consider the long-term consequences of the crisis. This column is part of a package on the future of transportation. Last month, my wife and I planned our first holiday in six months. It was a hectic experience. Borders between most Australian states had been closed since the start of the coronavirus lockdown. We’d been hoping to fly three hours to the tropical resort town of Cairns in northeastern Queensland state, to escape the Sydney winter and holiday with friends.Within hours of the announcement that Queensland’s border would open, tickets on the handful of flights north started selling out. With so few seats available, yield management — the practice by which airlines monitor minute-by-minute demand for their seats, and raise prices accordingly — was in overdrive. By the time we finally booked, we’d spent about...
The Roundhill Sports Betting & iGaming ETF (NYSE: BETZ) is again making some additions to its lineup.What Happened: BETZ, which debuted in early June, added shares of Landcadia Holdings II, Inc. (NASDAQ: LCA) to its roster after the close of U.S. markets last Friday, marking another roster adjustment for the first and only sports wagering exchange traded fund.Landcadia joins the BETZ lineup at a weight of 2.52%, just ahead of Caesars Entertainment (NASDAQ: CZR), which will likely soon be folded into the ETF's allocation to Eldorado Resorts (NASDAQ: ERI), as the latter is close to finalizing its takeover of the Caesars Palace operator.Why It's Important: The addition of Landcadia to the BETZ roster is notable for a few reasons. First, Landcadia is a special purpose acquisition company -- SPAC -- controlled by Houston Rockets owner Tilman Fertitta.SPACs, the vehicle by which DraftKings (NASDAQ: DKNG) went public earlier this year, are scorching...
(Bloomberg) -- Follow Bloomberg on LINE messenger for all the business news and analysis you need.The global frenzy for electric vehicles that has seen Tesla Inc.’s stock surge threefold is now juicing the shares of a South Korean supplier that has become the world’s biggest maker of electric vehicle batteries.South Korea’s LG Chem Ltd. has surged more than 62% this year to a valuation of more than $30 billion, becoming the sixth-largest stock on the benchmark Kospi index and leaving Hyundai Motor Co., the nation’s largest automaker, in the dust.While LG supplies many automakers, including Hyundai, it’s been particularly fueled by a deal to supply batteries to Tesla’s China factory, which is pumping out Elon Musk’s cars at a growing clip.Expanding EV subsidies in Europe and Tesla’s stupefying rally have buoyed related stocks worldwide despite global economic concerns. Fundamentals matter little, with Tesla just starting to show profit and EV truck...
