To The Moon

WRAPUP 2-US private payrolls post largest drop in more than 2-1/2 years in NovemberAdds services, manufacturing data, analyst comments throughoutADP says private payrolls decreased by 32,000 in NovemberSmall businesses account for the job lossesServices sector activity holds steady, employment improvesImport prices, manufacturing output were unchanged in SeptemberBy Lucia Mutikani. WASHINGTON, Dec 3 - U.S. private payrolls posted their biggest drop in more than two and a half years in November as small businesses shed jobs, but the weakness is probably not a true reflection of the labor market's health, with recent government data showing still-low layoffs.Economists also cautioned against reading too much into the unexpected decline shown in the ADP employment report on Wednesday, arguing the monthly estimate has diverged from the government's private payrolls count produced by the Labor Department's Bureau of Labor Statistics.The economy likely shed jobs in October after thousands o

City Developments subsidiary, Copthorne Hotel, completed the acquisition of Holiday Inn London at Kensington High Street for 280 million pounds, according to a Tuesday filing with the Singapore Exchange.The 706-room hotel booked a total revenue of more than 39 million pounds in the preceding 12 months and is expected to generate a yield of over 6%.The acquisition takes the company's presence in Central London to over 3,000 hotel rooms.Meanwhile, the property developer has also secured around SG$1.9 billion in contracted divestments year to date, this optimizing its portfolio and improving its capital position.