Housing inventories dip in major cities

Housing inventories in China’s major cities dropped 8.2 percent year-on-year in May as sweeping destocking measures kicked in, latest industry data showed. The floor space of unsold new homes in 100 major Chinese cities decreased to 427.08 million square meters, a level last seen in March 2012, according to figures released by the property research agency E-house China R&D Institute. A total of 73 surveyed cities registered inventory declines, with the coastal city of Dalian in Northeast China’s Liaoning province shedding 53 percent of unsold houses in the largest drop. next three years, as part of its latest strategy to “lead the Australian market”, the company said on Wednesday. The job cuts include “removing one in four executive and middle management roles to flatten the structure”, the firm said in a statement. “We are creating a new Telstra that is able to continue to lead the market. In the future our workforce will be a smaller, knowledge-based one with a structure and way of working that is agile enough to deal with rapid change. This means that some roles will no longer be required, some will change and there will also be new ones created,” Telstra CEO Andrew Penn said. in a possible alliance that could lead to cooperation in other areas. The companies announced the collaboration in a statement on Tuesday. They said that any alliance would not involve cross ownership stakes or including stock. VW and Ford say an alliance would strengthen each company’s competitiveness and better serve global customers. Ford did not reveal any further specifics about the collaboration.