Magnificent Seven? It’s More Like the Blazing Two and Tepid Five
Nvidia and Meta have pulled away from the rest of the once-hot group as investors focus on AI. For more than a decade, the stock market has been supercharged by a handful of technology behemoths that have offered the promise of hypergrowth. You know them: household...
Young Chinese Ease Their Angst Over Economy by Playing Lottery
Ticket sales surged as youth unemployment climbed to record Nation’s young face tougher economic climate than parents did Lottery shops in China are ditching bland storefronts to reinvent themselves as hipster hangouts, with slogans that tempt youngsters hit by an...
US Offers $600 Million Loan to Australian Rare Earths Project
Move to expand critical minerals supply chain away from China Offer conditional on company obtaining environmental approvals A US-backed lender has offered an Australian miner $600 million in loans to develop a rare earths project, the latest move to expand the...
China on Track to Be Ready for Taiwan Invasion by 2027, US Says
China is building its military and nuclear arsenal on a scale not seen since World War II and all signs suggest it’s sticking to ambitions to be ready to invade Taiwan by 2027, a top US admiral testified. Despite Beijing’s economic challenges, its official defense...
Gucci owner Kering tanks 14% after Asia profit warning, dragging down Europe luxury brands
Shares of French luxury group Kering plunged 14% on Tuesday after the company warned that Gucci sales look set to fall 20% year-on-year in the first quarter, amid declining Asia transactions. The rare profit warning forecasts overall group revenues to drop 10% in the...
Chinese Solar Manufacturer Cancels $1.3 Billion Factory
Chinese solar manufacturer Lingda Group Co. has terminated plans to build a new 9.15 billion yuan ($1.3 billion) cell production plant as severe overcapacity threatens a wave of bankruptcies and consolidations in the industry. The announcement Tuesday comes just days...
China Youth Unemployment Rises in February After Data Revamp
China’s youth unemployment rate ticked up in February as the jobs market for recent graduates remains under pressure in the world’s second-largest economy. The jobless rate hit 15.3% last month for people aged between 16 and 24 years old, a National Bureau of...
‘Relief’: What Economists Are Saying About Canada’s Inflation Surprise
Canada’s inflation rate decelerated to 2.8% in February, a positive development for central bank policymakers who’ve been waiting for more proof that their campaign of higher interest rates is working. It’s the first time the country has had two straight months of...
Siemens Warns Persistent China Slowdown Weighs on Orders
Key digital industries unit sees slower-than-expected business Shares drop most in seven months after CFO flags muted demand Siemens AG fell the most in seven months after flagging disappointing demand in China for its key digital industries division. New business for...
BofA’s CEO Says Commercial Real Estate Will Be ‘Slow Burn’
Will take time for banks to work through CRE loans: Moynihan ‘We’re careful in how we underwrite as an industry,’ CEO says Bank of America Corp.’s Chief Executive Officer Brian Moynihan said it’ll take time for the banking industry to work through issues with...
China Releases Action Plan to Attract Foreign Investment
China’s State Council released an action plan to further open up the Chinese market to foreign firms after overseas investment fell to record lows last year. The State Council called on local authorities and government departments to come up with timetables and...
China Bond Frenzy Roars Back as Yield Falls Toward 19-Year Low
Government debt rally resumes after taking one-week break China may cut reserve ratio as it sells special bonds: Nomura A recent bull run in China’s government bonds is making a comeback after a one-week break, a sign that traders are getting over policymakers’...
The Fed Has a Lot of Questions to Answer About Its Balance Sheet
Officials will have an in-depth conversation on QT this week Fed likely to discuss when and how to taper asset runoff The Federal Reserve will begin in-depth discussions about its balance sheet this week, including when and how to slow the pace at which the central...
IMF Is Lending Near Record $150 Billion to Counter Debt and Wars
Egypt, Ukraine, Argentina are among the fund’s top borrowers Higher interest rates, geopolitical conflict fueling crises The International Monetary Fund is lending near a record amount to almost 100 countries, evidence of its growing role as a backstop against the...
