May 25, 2023

Kyle Bass Urges Investors to Develop Data Centers in a Play for AI Office Real Estate Looks Dicey With REITs Plunging to a 2009 Low Mortgage Rates in the US Rise to Highest Level Since Mid-March US Pending Home Sales Stall on Lack of Available Properties Should I buy a cottage with friends or family? A quarter of Canadians want to buy an investment property within five years: Survey First Republic’s $35 Million Banker Outearned JPMorgan’s Dimon Before Bust Chanel Makes Bigger UK Bet With London Office Expansion Plans German Housing Push Falters as Building Permits Slump by a Third Mayfair Offices Remain Hot Property Amid Weaker Wider Market Swedish Housing Starts Slump 55% in Latest Sign of Crisis China Warnings Flash Across Global Markets as Growth Disappoints Bank of Korea Holds Rate, Lowers Growth View as Risks Mount PAG Chief Buys Century-Old Hong Kong Villa for $70 Million BHP Confident China Property Recovery Will Boost Metals Demand Leaked Emails, Bad Bets Throw Real Estate Investor Into Strife Urban Partners Raises Record €3.6 Billion to Buy Nordic Property Canada's homebuyers need help from 'bank of mom and dad' Rural California Hospital’s Bankruptcy Highlights Industry Strains Toronto mayoral candidates debate housing supply, affordability solutions Eskom Latest: Food Maker Installs Solar; Bigger Cuts for Longer US Veterans Earn $7,000 Less, More Likely to Be Out of Workforce European Gas Slumps Again as Industries Struggle to Boost Demand UBS, Credit Suisse Closing Risks Delay as Government Talks Drag Richard Branson’s Space-Tourism Dreams Face a Crucial Test Flight Kyle Bass Urges Investors to Develop Data Centers in a Play for AI Nvidia Short Sellers Lose $2.3 Billion in One Day as Stock Soars Ukraine Recap: 36 Drones Shot Down as Kyiv Takes Another Hit Pimco Weighs Joining Investors Suing Over Credit Suisse Wipeout BlackRock’s $9 Billion Quant ETF Set to Lean in on Nvidia, Tech Office Real Estate Looks Dicey With REITs Plunging to a 2009 Low Anti-ESG Campaign Triggers More Defections From Insurer Group Faster Energy Permits Being Eyed as Part of Debt-Limit Deal White House Steps Up Monitoring of Antisemitism in New Strategy Mortgage Rates in the US Rise to Highest Level Since Mid-March Aldi Cuts Prices Further, Boosting Competition With Grocery Stores Like Walmart and  Kroger Lufthansa Agrees With Italy to Take Minority Stake in ITA Collins Says Fed at or Near Rate-Pause Point as Inflation Cools New Venture Capital Fund Eyes Latin American Science Startups European Gas Slumps Again as Industries Struggle to Boost Demand Ukraine Recap: 36 Drones Shot Down as Kyiv Takes Another Hit Faster Energy Permits Being Eyed as Part of Debt-Limit Deal Guam Typhoon Highlights Threat to US Military’s Pacific Strategy Debt Deals That Burned Emerging-Market Borrowers Make a Comeback McCarthy Says Issues Remain in Debt Talks, All Won’t Be Happy Stratasys to Combine With Desktop Metal in $1.8 Billion Deal Wall Street Scrutiny Resets $6 Trillion in ESG Debt US AAA Credit Rating May Be Cut by Fitch on Debt-Limit Impasse Saudi Arabia Snaps Up Russian Diesel and Sends Its Own to Europe A Retired Trader Tries to Make It Easier to Hedge Treasury Debt Reclusive $30 Billion Tycoon Suffers Dual Blows as AMLO Circles This Is What Food Made From Air, Water and Electricity Looks Like Oil Industry’s Longest-Serving Chairman Seeks Another Four Years Europe’s Gas Traders Watch for Sub-Zero Price in Summer Glut Corporate America Struggles to Deliver on $80 Billion Promise to Diversify Supply Chains AI Darling Criticized for Product Delays, Founder Tom Siebel’s Micromanaging Arrington-Led Group Wins Rights to Manage Celsius Assets Adnoc Logistics Gets $125 Billion in Orders for $769 Million IPO U.S. economic growth for last quarter is revised up to a still-tepid 1.3% annual rate The Daily Chase: Loan loss provisions weigh on bank earnings; Nvidia forecasts upbeat outlook TSX recap: Index finishes more than 1% lower amid losses in materials stocks A June pause in rate hikes would be a close call for U.S. Fed officials, meeting minutes show Debt ceiling: GOP, Biden negotiators resume talks amid impasse CPP Investments reports 1.3 per cent return for its latest fiscal year The Daily Chase: Scotiabank and BMO miss analyst expectations; U.S. debt talks stall Canada has highest household debt level in G7: CMHC deputy chief economist Scotiabank economist explains his call for another Bank of Canada interest rate hike Investor-occupants made up almost 10% of B.C. homeowners in 2020: Statistics Canada Explained: What is the U.S. debt ceiling The Daily Chase: Markets point to negative open; Air Canada shows strong start to travel season Powell says tighter credit could mean a lower peak in rates Another interest rate hike? Economists divided on Bank of Canada's next step Statistics Canada reports retail sales down 1.4% in March, but core sales up 0.3% Death of the password coming as passkey technology on brink of consumer adoption The Daily Chase: WestJet avoids strike; Scotiabank forecasts interest rate hike ahead Major reforms to air passenger rights needed, says House committee report Bank of Canada sees financial stress rising among homebuyers Ukraine Recap: 36 Drones Shot Down as Kyiv Takes Another Hit UK Police Arrest Man After Car Crashes Into Downing Street Faster Energy Permits Being Eyed as Part of Debt-Limit Deal Ramaphosa Rules Out South Africa Abandoning Neutral Stance on War in Ukraine Guam Typhoon Highlights Threat to US Military’s Pacific Strategy Trump-style gaffes put Canadian oil heartland up for grabs in vote Mozambique Loses Appeal to Stop Ex-Minister’s Extradition to US Former FBI Director James Comey Has Written a Very Bad Crime Novel Shekel Volatility Bets Jump as Israeli Politics Unnerves Traders Reclusive $30 Billion Tycoon Suffers Dual Blows as AMLO Circles Asset Managers Attack Plan to Force Pensions Into UK Growth Fund Citigroup Teams Up With South Africa to Fund New Mega City and Airport Turkey Looks to Delay Lira Reckoning by Holding Rates: Day Guide The F-16 Jets Kyiv Wants Aren’t Flying in Ukraine Any Time Soon Rishi Sunak Reveals He’s a Fan of Jilly Cooper’s Erotic Novels German Housing Push Falters as Building Permits Slump by a Third Ukraine Awaits Weapons for Counteroffensive, Zelenskiy Aide Says Bangladesh Vows Free and Fair Elections After US Visa Curbs Kishida’s Coalition Party Says It Won’t Back His LDP in Tokyo Nvidia Short Sellers Lose $2.3 Billion in One Day as Stock Soars BlackRock’s $9 Billion Quant ETF Set to Lean in on Nvidia, Tech Anti-ESG Campaign Triggers More Defections From Insurer Group Guam Typhoon Highlights Threat to US Military’s Pacific Strategy US Dollar Will Keep Its Global Dominance Despite Challenges, Moody’s Says Stratasys to Combine With Desktop Metal in $1.8 Billion Deal What’s Trending Today: DeSantis Twitter Glitch, Remembering Tina Turner, Oakland A’s Friday Is Now an Options Feeding Frenzy Yandex to Offer Investors Choice of Russian or Foreign Assets Wall Street Scrutiny Resets $6 Trillion in ESG Debt One of Britain's Only Female Bank Bosses Is Stepping Down Alibaba Hiring 15,000 People, Pushes Back on Job Cut Reports Nvidia (NVDA) on Track for Record $219 Billion Surge in Market Value Nvidia’s Surge Sharpens Focus on Hunt for AI Losers NSO Spyware Used to Target Prominent Armenians, Researchers Say Nvidia’s Rosy Forecast Shows Chipmaker Benefiting From AI Boom Nvidia ignites AI-related stock rally after 'blow-out' forecast This Is What Food Made From Air, Water and Electricity Looks Like TikTok Is Testing an AI Chatbot Named Tako The U.S. Fed is failing in four ways: Mohamed A. El-Erian Apple, JPMorgan turn to pay now grow later Remote Working Boom Is Huge for College Towns Like Knoxville Walmart flashes a warning sign to the entire consumer economy: Andrea Felsted Millennials are finally spending like grown-ups Dismal U.S. GDP report raises the odds of recession this year: Gary Shilling Musk is wrong for Twitter even if deal math works out Chocolate bunnies can teach us to save our food supply The Fed has made a U.S. recession inevitable America's oil reserve weapon risks misfiring Four-day workweeks can burn you out U.S. Fed expects a soft landing. Don't count on it Markets are pushing Fed into developing-economy territory Commodity traders go from bonanza to bailout plea Putin's war shows West must clean up dirty money Salary transparency is good for everyone Microsoft's US$69B Activision deal could be a blunder What if the oil market bulls are wrong and this lonely bear is right? Canada's trucker protest may spread from Ottawa to U.S. What’s Causing the FOMO Drought in US Equities? Goldman Says Stocks Risk ‘Elevator Down’ With Quants Near Max Long Wave of Corporate Spinoffs Fills a Void of Large US Listings AI Intrigues ETF Managers as Both Investment and Tool Investors Should  Prepare for Dividend Stock Rebound, Goldman Strategists Say AI-Powered ETF Getting Left Behind by an AI-Powered Stock Rally Fund Boss Who Beat 91% of Peers Says ESG Is Key to Making Money BlackRock Bond Chief Rick Rieder’s First ETF Is All About Income Cut Stocks, Buy Gold, Hold Your Cash, JPMorgan’s Kolanovic Says Qatar Wealth Fund Sets up $275 Million Market-Making Program Stock Futures Decline, Currencies in Tight Ranges: Markets Wrap Regional Banks Rallied Last Week. Traders Continued to Short the Sector Hedge Funds Rush to Buy Stocks on S&P 500’s Momentum US Exposure Is Next Headache for Europe Inc. as Dollar Slides No Talk of Moon Shots at This Year’s Bitcoin Bash in Miami China Tech Stocks in Grip of Slowdown Fears Lag Global Peers A Bitcoin-Spot ETF Is Unlikely in US in the Near Future, VanEck CEO Says Debt-Ceiling Tail Hedges Are `Cheap Lottery Tickets,' Bank of America Says The Patent That Helped Vanguard Clients Pocket Big Gains Expires BCE You are now being redirected to the BCE.ca website (Bell Canada Enterprises), where you can view our Accessibility plan, and submit your feedback using our Accessibility webform. Shelly Hagan, Alix Steel and Guy Johnson, Bloomberg News Kyle Bass, chief investment officer of Hayman Capital Management LP, speaks during a Bloomberg Television interview in San Francisco, California, U.S., on Monday, Feb. 11, 2019. Bass said he is sticking with his call for a recession in 2020 as the tax cut bump fades. Photographer: David Paul Morris/Bloomberg , Bloomberg (Bloomberg) -- Kyle Bass, who has been predicting serious pain in the US office market, is taking a different view toward data centers as a new wave of artificial intelligence applications drives tech firms’ needs for more computing power. “People that are developing data centers don’t even get them developed before one of the FAANGs leases it for 30 years,” Bass, the founder of Hayman Capital Management, said in an interview with Bloomberg Television Thursday. The Dallas-based investor made the comments after chipmaker Nvidia Corp. surprised analysts with a surging revenue forecast, propelling a jump in stocks linked to AI. Nvidia is the biggest maker of advanced chips that are required to train a nascent generation of AI services that can create new content. Examples of generative AI include OpenAI’s ChaptGPT and DALL-E. Read more: Nvidia’s blowout forecast sparks huge rally in all things AI Bass, 53, rose to fame from his bet against subprime mortgages before the housing crisis of 2008. While he doesn’t consider himself a tech specialist, he said he expects more upside for Nvidia, even after a 109% run-up this year through Wednesday. The shares surged as much as 30% early Thursday. “I wouldn’t short Nvidia,” Bass said. “It just has a long way to run here.” To capitalize on the demand for AI and growth in computing power, investors should look at developing data centers and buying industry-related securities, Bass said. President Joe Biden signed the CHIPS Act last year to incentivize chip production in the US. Taiwanese Semiconductor Manufacturing Co., which provides chips for Apple Inc. products, is building a $12 billion factory in Phoenix, and Samsung Electronics is constructing a $25 billion-plus plant outside Austin. “Data centers are white-hot. Nvidia is white-hot,” Bass said. ©2023 Bloomberg L.P.