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Hong Kong property tycoon Lee Shau-kee dies aged 97
Hong Kong property tycoon Lee Shau-kee dies aged 97
by  AFP

Hong Kong's second-richest man Lee Shau-kee has died aged 97, the property tycoon's firm Henderson Land Development announced Monday. Lee died peacefully on Monday evening in the company of his family, Henderson said in a press release.

US retail sales weaker than expected as consumer health under scrutiny
US retail sales weaker than expected as consumer health under scrutiny
by  AFP

US retail sales logged smaller gains than expected in February according to government data released Monday, edging up from an earlier decline with all eyes on consumer spending strength amid growing worries of a recession. - Risk of weakness - From a year ago, retail sales were up 3.1 percent in February, the government data showed.

Court upholds £3 bn lifeline for UK's top water supplier
Court upholds £3 bn lifeline for UK's top water supplier
by  AFP

A UK court on Monday upheld an emergency loan granted to Thames Water, allowing Britain's largest such supplier to keep a financial lifeline as it drowns under massive debt. Thames is scrambling to find fresh sources of funding, including appealing to the UK water regulator to be allowed to hike bills more than granted.

OECD lowers global growth projections over tariffs, uncertainty
OECD lowers global growth projections over tariffs, uncertainty
by  AFP

Trade tensions and geopolitical uncertainties are weighing on economic perspectives, the Organisation for Economic Co-operation and Development said on Monday as it lowered its projections for global growth in 2025. That was due to "higher trade barriers in several G20 economies and increased geopolitical and policy uncertainty weighing on investment and household spending".