Wednesday, 21 Oct 2020

Turkish lira becomes the currency of choice in northern Syria

Walker & Dunlop Buys Beler Advisory Group; Terms Not Disclosed

Walker & Dunlop (WD), a commercial real estate finance company, announced Thursday the acquisition of Beler Advisory Group, a New York City -based independent real estate advisory firm. The financial terms of the deal were not disclosed.

The company said the acquisition will immediately benefit it through Beler Advisory’s deep client relationships, strong deal flow, and long-standing partnership with its New York City Capital Markets Debt and Equity Team.

Beler Advisory Group, which was established in fall 2019, is independently owned and operated by Mo Beler.

Further, Beler Advisory’s key principal, Mo Beler, joins Walker & Dunlop as Senior Managing Director of the New York City Capital Markets Debt and Equity Team. He will focus on sourcing and structuring equity capital transactions and debt financing for all commercial real estate asset classes nationally. He will also be responsible for expanding Walker & Dunlop’s client base and capital markets capabilities.

Prior to founding Beler Advisory, Mo Beler served as a Vice Chairman within JLL Capital Markets.

Worthington Industries Q4 Profit Declines; Sales Down 35% – Quick Facts

Worthington Industries, Inc. (WOR) reported earnings per share of $0.29, for its fourth quarter ended May 31, 2020, which included restructuring and impairment charges reducing earnings per share by $0.20. In the fourth quarter of prior year, earnings per share was $0.66. Analysts polled by Thomson Reuters expected the company to report profit per share of $0.25, for the quarter. Analysts’ estimates typically exclude special items.

Fourth quarter net sales were $611.6 million, down 35% from prior year. The company said the decrease was driven by lower direct volume and lower average direct selling prices in Steel Processing combined with an unfavorable shift in product mix in the industrial products business in Pressure Cylinders. Analysts expected revenue of $669.7 million for the quarter.

Bangladesh economy: Tens of thousands of people left jobless

Like other countries, the pandemic in Bangladesh has robbed tens of thousands of workers of their jobs and income.

In Bangladesh, tens of thousands of people have lost their jobs because of the pandemic and have been forced to leave the capital, where they worked.

Many have simply run out of money and have no other choice but to return to their home villages.

The Bangladeshi government has announced billions of dollars in stimulus packages, but analysts say things will only stabilise when businesses are running as normal.

Al Jazeera’s Tanvir Chowdhury reports from Dhaka, Bangladesh.

Mark Cuban Enlightens Fox News Viewers With Key Difference Between Biden, Trump

Billionaire investor Mark Cuban appeared on Fox News this week and declared his support for presumptive Democratic nominee Joe Biden, who has been the subject of countless attacks on the conservative network, for president.

“Shark Tank” star Cuban used the Tuesday interview on Sean Hannity’s widely watched primetime show to highlight one key difference between former Vice President Biden and President Donald Trump.

“Donald Trump doesn’t want to run a country. He wants to run a campaign. Joe Biden actually wants to run a country,” explained the owner of the NBA’s Dallas Mavericks.

Check out the clip here:

Elsewhere in the interview, Hannity pressed Cuban to identify what Biden has done “that you were proud of that qualifies him to be president after 50 years” in public life.

“I think the ACA (Affordable Care Act) is easily their biggest accomplishment and it’s unfortunate that they’re (the Trump administration) is trying to dismantle it,” he said.

Hannity concluded by describing Cuban’s politics as “nuts” and lavishing praise on the president, who he has promised to campaign for during the 2020 election.

US workers file 1.48 million jobless claims, bringing coronavirus total to 47M

Some 1.48 million Americans applied for unemployment benefits last week as the labor market struggled to recover from the coronavirus pandemic, new data shows.

The latest figure from the US Department of Labor brought the number of workers sidelined by the crisis to more than 47 million even as the weekly total continued its steady decline since late March.

The number of people filing continuing claims for benefits also dropped to roughly 19.5 million in the week ending June 13, the feds said Thursday. But that figure has essentially plateaued even as much of the US eased coronavirus lockdowns that sparked massive layoffs in the spring.

Economists expected 1.3 million initial filings last week as reopened businesses grappled with low demand amid the pandemic. The US is also grappling with a resurgence in the virus, which could potentially cause lockdowns to resume.

With Post wires

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Arctic Siberian town hit with record heatwave

Scientists are working to verify the hottest temperature recorded in one of the coldest places on Earth.

The World Meteorological Organization is investigating a record-high temperature for the Arctic after the Siberian town of Verkhoyansk registered a high of 38 degrees Celsius (100 degrees Fahrenheit).

The heatwave in the region has been linked to wildfires, a diesel spill and a surge in insects.

 

Al Jazeera’s Charlotte Bellis reports.

Turkish lira becomes the currency of choice in northern Syria

Syrians take on the Turkish lira as the value of their pound plummets.

Syrians living in the opposition-held northwest Idlib province are switching currencies because the value of their pound is plummeting.

Many are now using the Turkish lira as Syria’s economy continues to be hit by setbacks.

 

Al Jazeera’s Sinem Koseoglu reports from Istanbul, Turkey.

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