Current conditions bode well for the outlook for lodging and resorts. Corporate profits, one of the main drivers of business travel, increased 5.5 percent last year while household budgets are benefitting from low unemployment and rising wages. Get the full sector spotlight here.
Nareit's annual conference brings together 1,500+ REIT executives, investors and industry professionals for a mix of private meetings, educational sessions and networking events. REITworld will take place Nov. 7-9 at the San Francisco Marriott Marquis. Register today.
Roughly two-thirds of Amazon Prime members surveyed said they would be interested in a free online bank account from Amazon if one were available, and 43% of the company's regular customers said the same. Amazon reportedly is in discussion with banks about offering a product similar to a checking account.
Companies that rely too much on singular executives rather than collective leadership struggle to retain leaders and respond to competitive changes, according to a report by EY, DDI and The Conference Board that surveyed more than 25,000 people. Consider using team-based bonuses, hire and promote people known to collaborate and be able to explain the organization's purpose, write Richard Wellins and Evan Sinar of DDI.
The debt of companies, governments and households worldwide exceeds levels before the collapse of Lehman Brothers, says Hyun Song Shin, research chief at the Bank for International Settlements. Asset managers have responded to low interest rates by pursuing higher returns from leveraged loans to businesses already carrying substantial debt, he says.
European Central Bank policymaker and Bank of France Governor Francois Villeroy de Galhau urges agreement on a backstop for a proposed bank-resolution fund by year-end. The EU agreed in June to let the fund lend to ailing banks, but Villeroy de Galhau says that details are unresolved and that swift decision-making is necessary so the fund acts effectively.
HNA Group, Deutsche Bank's biggest investor, is expected to dispose of its stake, prompting speculation of how the divestment would go. The indebted Chinese conglomerate reportedly is under government orders to cut debt and to focus on core activities.
Intercapital Capital Markets was fined $50 million by the US Commodity Futures Trading Commission over claims its brokers helped bank clients attempt to manipulate the ISDAFIX between 2007 and 2012.
The Securities and Exchange Board of India has approved a set of know-your-customer rules for foreign portfolio investors, which are expected to be issued soon. The proposals would allow investors to trade in commodity derivatives, with the exception of sensitive commodities, and allow the domestic market common application form to be used for the registration of foreign portfolio investors.