Photographer: China Photos/Getty Images
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China's developers are splashing out, swallowing up rivals and their land at a record pace. Developer Sunac's 63.2 billion yuan ($9.3 billion) purchase of hotels, land and projects from Dalian Wanda is China's largest property deal, and caps a year-long shopping spree that's seen billionaire Sun Hongbin’s company stray beyond its core focus on residential real estate. So perhaps it's not surprising that predictions of "mega-consolidation" in the industry are bubbling up. Tight credit, competition for land, and local governments’ measures to cool home markets in individual cities may be pushing smaller developers out; according to Citigroup analysts, the 10 biggest developers may be jointly responsible for as much as 35 percent of sales by 2020. — Brent O'Brien
Investors aren't fearful enough, Singapore's sovereign wealth fund says. GIC Pte warned that investors are too complacent about looming market risks, as it reported a decline in its main performance gauge for the second straight year. But not all investors are throwing caution to the wind. Some point to low readings in "fear gauges" such as the VIX, which recently hit its lowest level since 1993, busting through the levels that were followed by 2007's subprime crisis, the collapse of Lehman Brothers and the global credit crunch.
The world is getting the hang of dealing with Trump. Don’t react to his tweets, play down areas of conflict where you can, and stand your ground when you need to. Most of those tactics were deployed during last week’s Group of 20 summit and while there were some tense moments, everyone left Hamburg agreeing to disagree, at least for now. Trump even directed a laudatory tweet at Merkel on his way back to Washington.
Tesla rolls out its first Model 3, and it's Elon Musk's. It's finally here: Tesla's $35,000 gamechanger. A single black Model 3 rolled off the production line Friday with a serial number all its own, kicking off a company-defining six months. The car will belong to the company's CEO and co-founder, who shared images of it on Twitter over the weekend. One down, millions more to go.
China is the new leader of shipping trade to the Americas. State-owned Cosco Shipping's $6.3 billion offer to buy Orient Overseas would create an entity that’s the biggest shipping company moving boxes to the North American continent from Asia. The consolidation may help raise container rates on the Americas route — the second-busiest in the world — a critical piece in the survival of the shipping industry that has been battling slumping charges and overcapacity.
Foreigners are shoring up Japan's shrinking population. There are now 2.3 million foreigners resident in Japan. And the number — known universally in Japan as "gaijin" — grew by almost 150,000 last year, halving the decline in number of people living in the nation.
China's army turned on the charm with weekend shows in Hong Kong. From 700 sailors spelling out "Hello Hong Kong” on the deck to youthful soldiers singing about iPads and smart phones, China’s People's Liberation Army opted for a message of unity from the aircraft carrier Liaoning battle group.
What Brexit means for breakfast, it also means for Britain. Leaving the European Union means British consumers could see the price of a fry-up — a classic English breakfast with ingredients like bacon, sausages, orange juice, baked beans and mushrooms — increase by almost 13 percent, thanks to World Trade Organization tariffs. Is this the perfect metaphor for how Brexit will affect the cost of British life?