Page 15 - Vicinity Centres News Today

Australian shares down 0.7pc; US recession likely in 2023: NAB, iron ore futures plunge; UBS downgrades Bega; PointsBet secures $94.2m investment. Follow updates here.

Australian shares retreated as falling oil and iron ore prices added to concerns that high energy costs would reinforce the risk of a global recession.

Digital Out-of-Home (DOOH) advertising, the category with high value and relevant audiences, is about to achieve new heights in Australia.

While still outperforming global peers year-to-date, the ASX200 experienced a -2.6% loss (total return) in May as losses in the real estate and technology sectors outweighed a small gain in the materials sector

The flurry of deal-making comes as borrowing costs begin to rise: higher margins on commercial debt will further squeeze the return for property investors, pushing them to lock in better yields.

The $8.5 billion landlord will start work on a 51-storey apartment tower, 25 level office and new town square.

The Box Hill project is just one of a series of development initiatives across its 60-mall portfolio as Vicinity looks to exploit its well-located swathes of suburban real estate.

The Gold winner in this category for Campaign's Global Agency of the Year Awards is TBWA\Asia Pacific.

Extra Edition of the Broker Call Report

Australian shares follow US stocks higher on clear Fed rate path. Netwealth downgrades FY22 inflows to exceed $13b. NAB upbeat on funding levels after $5b buybacks. Follow updates here.