SWEE PHUAH, the contractor for the new Momofuku Noodle Bar in the East Village that David Chang expects to open next week, pointed at the speakers in what was still a sawdusty construction site a few weeks ago.
Investors face a quandary. Cash offers a return of virtually zero in many developed countries; government-bond yields may have risen in recent weeks but they are still unattractive. Equities have suffered two big bear markets since 2000 and are wobbling again. It is hardly surprising that pension funds, insurers and endowments are searching for new sources of return.
Tourism brings a lot of tax revenue to the area.
Her Majesty's renown'd (Though uncoif'd) counsel
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