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BRIGHTON Texas-headquartered oil and gas services company FMC Technologies Inc. (NYSE: FTI) has purchased its Brighton sales and service center from an affiliate of the Japanese bank that owned the property.
FMC paid SMBC Leasing Finance Inc. just over $12.38 million for the 52,000-square-foot space at 1571 Weld County Road 27, Weld County real estate records show. SMBC is a New York-based affiliate of Tokyo’s Sumitomo Mitsui Banking Corp.
The oil and gas company moved into the space in 2015 and established a “super-base” to sell and service equipment used for hydraulic fracturing in the Denver-Julesburg Basin,
according to media reports. FMC spent $11.9 million to build out the Brighton space.
Cancelling the Tokyo Olympics will cost Japan around $17billion, while the damage caused by another Covid-19 state of emergency will be higher, experts have warned.
An estimate by the Nomura Research Insitute (NRI) has claimed that cancelling this summer s Tokyo Olympics would cost the country around $17billion (¥1.81 trillion).
But an economist at the think-tank has warned that the economic loss from coronavirus cases spiking after the event could be even more damaging, Japan Times reported.
Japan, which has recorded more than 700,000 infections and 12,000 deaths from the virus, is in the grip of a month-long state of emergency and has delivered vaccinations to just under 5 per cent of its population.
Takahide Kiuchi, executive economist at NRI, said cancelling the Olympic Games will be a smaller economic loss than the damage caused if another Covid state of emergency is declared after the event.
May 25, 2021
For any country, hosting the Olympics is a major deal, both politically and economically. Yet, in a world ravaged by the COVID-19 pandemic, going ahead with the Tokyo Games is starting to look like a dangerous gamble on both counts.
Ominously, a growing number of investors in Japanese stocks now believe that canceling the games is better for the market, intensifying the pressure on Prime Minister Yoshihide Suga, who is already facing stiff public opposition to the global showcase event.
The potential political damage to Suga, and resulting uncertainty, from staging the games ahead of an election that must be held by October is making investors nervous, according to several fund managers and traders.