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Today's markets: Olympic Torch arrives in Tokyo, landlords' rent roll improves and more

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Today's markets: Olympic Torch arrives in Tokyo, landlords' rent roll improves and more

 

  • Olympic preparations marred by Covid restrictions
  • Holiday bookings surge
  • UK GDP disappoints

Olympic torch arrives in Tokyo

The rain drizzled on Komazaka Olympic Park Stadium, where the stands were vacant except for a handful of journalists and officials.

It was hardly a triumphant welcome for the Olympic torch as it arrived in Tokyo today, only hours after a state of emergency was declared in the Japanese capital and organisers announced spectators would be barred from all events in the city.

Now more than a dozen companies are pulling back their sponsorship for the games, Reuters reports, dealing a further economic blow to a government that has increasingly come under attack from its citizens as it pushed ahead with the Olympics despite struggling to contain a rise in Covid cases.

But should investors look beyond the Olympics to long-term value in Japan? In her recent piece, Mary McDougall argued yes. OT 

Further reading:

Does hosting the Olympics mean a gold medal for financial chaos?

 

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