Slowing Inflation Primes G-7 Central Banks for June
Inflation-related releases across the Group of Seven will prime central bankers for crucial June interest-rate decisions, just as they meet in Italy to discuss the state of the world economy.
Latest Videos
The information you requested is not available at this time, please check back again soon.
Inflation-related releases across the Group of Seven will prime central bankers for crucial June interest-rate decisions, just as they meet in Italy to discuss the state of the world economy.
Big US bond investors have been aggressively shifting money into long-dated notes, betting that the unloved asset class will be one of the winners from eventual interest rate cuts.
A measure of underlying US inflation cooled in April for the first time in six months, a small step in the right direction for Federal Reserve officials looking to start cutting interest rates this year.
Emerging-market currencies dipped Friday on dwindling optimism over Federal Reserve rate cuts, paring their fourth-straight week of gains.
The owner of a historic office building in Manhattan’s Financial District has filed bankruptcy to sell the property, which has been subject to foreclosure and suffered from a lack of tenants due to the Covid-19 pandemic.
Nov 29, 2018
Bloomberg News
,Alphabet Inc.’s (GOOGL.O) digital city on Toronto’s waterfront will be made out of wood, heated by geothermal wells and offer a swathe of affordable housing as it seeks to win over a skeptical public concerned about privacy issues at the development.
Sidewalk Labs LLC, the urban innovation unit of Google parent Alphabet says about 40 percent of the 2,500 residential units on the 4.9-hectare (12-acre) development dubbed “Quayside,” will be below-market housing, including 20 per cent affordable. Just over half will be purpose-built rental.
“Toronto is effectively in a state of housing gridlock. People feel stuck where they are, they’re unable to get into the market, whether its owning homes or even just renting,” Jesse Shapins, director of public realm at Sidewalk, said in media briefing Thursday. "We’re making an unprecedented commitment here to below-market housing. Our approach here ensures a truly mixed-income community and we hope this can be a model for really tackling the housing challenges in Toronto today."
Sidewalk’s proposal comes amid an immigration and economic boom in the city that’s sent rents soaring and driven the vacancy rate for condos rentals to 1.1 per cent and for purpose-built rentals to 0.5 per cent. At the same time, Sidewalk’s project has been entrenched in controversy over concerns about how data collected from smartphones, sensors and the like will be controlled and protected.
Sidewalk didn’t release any further plans for data on Thursday. The company has proposed that an independent civic data trust be created to oversee the control of the information and advocated for an independent body to set privacy rules for the development.
The company plans to use mass timber to construct all of its buildings which will likely be 30 stories or lower and be a mix of residential, commercial spaces with lower floors for retail, arts or community areas. Proponents of mass timber or engineered wood say the product is as strong and fire-resistant as those made from steel or concrete, and Sidewalk said its use in the development could spark a new industry in Canada.
Energy in buildings will be managed by an AI-powered system that would result in 20 per cent less energy use while the project is targeting a 75 per cent to 85 per cent reduction in greenhouse gases with heat recovery and geothermal technology.
More than 9,000 jobs will be created in the province as a result of the building construction process in Quayside, which will likely be home to 3,900 jobs with a focus on technology and urban innovation.
The plans have yet to be approved by the project’s stakeholders, which includes Waterfront Toronto, the government organization overseeing the project, Alphabet Inc. and the City of Toronto. Sidewalk Labs will bring its proposals forward for approval next spring.
Dan Doctoroff, the chief executive officer of Sidewalk Labs, was CEO of Bloomberg LP and deputy mayor of New York City under Michael Bloomberg, Bloomberg’s founder.