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WSJ What’s News

Commercial Property Losses Hit Banks on Three Continents

WSJ What’s News

The Wall Street Journal

Daily News, News

4.14.2K Ratings

🗓️ 1 February 2024

⏱️ 15 minutes

🧾️ Download transcript

Summary

P.M. Edition for Feb. 1. Lenders in the U.S., Switzerland and Japan have announced losses tied to troubled real-estate lending. Financial reporter Eliot Brown has the details. And senior reporter Drew Hinshaw explains how security crises on the high seas are threatening global trade. Plus, CEOs have plenty of perks, but as “On the Clock” columnist Callum Borchers explains, the job can also be hazardous to their health. Annmarie Fertoli hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Like some kind of Pizza Ninja, Domino's are slicing their prices.

0:05.0

Domino's price slice.

0:07.0

Small pizzas now 8 quid, medium now 10 quid,

0:10.0

and large now 12 quid.

0:12.0

Yet we're making cuts too.

0:14.0

In 11th of February 24, minimum delivery spend, charges and areas may apply.

0:18.0

T.C.C. Domino's dot-co. UK.

0:20.0

The commercial real estate crisis is spilling over to banks on three continents

0:27.0

and security crises on the high seas threaten global trade.

0:31.0

All over the map you are seeing these places where sea lanes that we took for granted

0:35.2

are suddenly not necessarily open and not necessarily open to everybody.

0:39.0

Plus price negotiations between the U.S. and drug makers finally begin.

0:43.0

It's Thursday February 1st.

0:45.0

I'm Anne Marie Fertoli for the Wall Street Journal.

0:47.0

This is the PM edition of What's News,

0:50.0

the top headlines and business stories that moved the world today.

0:53.0

The commercial real estate crisis has hit banks on three continents.

1:05.0

Lenders in the US, Switzerland, and Japan have announced losses tied to troubled real estate lending.

1:10.0

Setbacks overseas came after New York Community Bank Corp, which took over the assets of

1:14.6

failed signature bank last year, reported surging loan losses, as we told you on this morning

1:19.4

show.

1:20.4

That's reignited fears about the health of regional lenders.

...

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