Author: Press Room
Stay informed with free updatesSimply sign up to the Chinese business & finance myFT Digest — delivered directly to your inbox.Chinese authorities are putting pressure on state banks to accelerate lending to private property developers, as they strengthen efforts to revive the country’s debt-stricken real estate market by supporting some of its biggest and most precarious companies.Chinese regulators have instructed state banks to ensure the amount of loans to private property developers at least match the sector-wide average, according to two people who attended a gathering in Beijing on Friday of senior government and banking officials.Shares of private developers jumped…
© Reuters. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. REUTERS/Brendan McDermid/File Photo (Reuters) – U.S. stock index futures inched lower on Tuesday as investors stayed on the sidelines ahead of artificial intelligence chip leader Nvidia (NASDAQ:)’s quarterly report and the release of the Federal Reserve’s meeting minutes. A technology-fueled rally led the and the Nasdaq to register their highest closing level in over three months on Monday, as investors continued to bet that the Fed was at the end of its rate hiking cycle. Big…
© Reuters. In early trading hours today, European stock markets presented a mixed picture with modest movements. The index made a slight gain, inching up to 456.47. In Germany, the also saw an uptick, while the CAC-40 in France experienced a small drop of 0.09%. Investors across Europe are keenly anticipating the release of the minutes from the most recent meeting of the US Federal Reserve. The document is expected to shed light on the Fed’s stance regarding interest rate changes, with the market predicting rates to hold steady next month and potential cuts by next summer. In the UK,…
© Reuters. FILE PHOTO: Gas bubbles from the Nord Stream 2 leak reaching surface of the Baltic Sea in the area shows disturbance of well over one kilometre diameter near Bornholm, Denmark, September 27, 2022. Danish Defence Command/Handout via REUTERS/File Photo (Reuters) – Russia is waiting for the outcome of an investigation into the sabotage of the Nord Stream gas pipelines before making any request for compensation, the RIA state news agency cited a foreign ministry official as saying on Tuesday. The pipelines under the Baltic Sea were damaged in explosions last year, and investigations have yet to establish who…
Tuniu reports Q3 results
© Reuters. Chinese Yuan and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo SHANGHAI (Reuters) – China’s major state-owned banks were seen exchanging yuan for U.S. dollars in the onshore swap market and selling those dollars in spot currency markets this week, two sources told Reuters on Tuesday. The yuan has gained 2% in the past week, to stand at levels around 7.13 to the dollar – its highest in nearly 4 months – and the big state banks have continued to sell dollars for yuan this week, the sources said. State banks…
A member of a Maryland task force aimed at combating hate crimes published numerous antisemitic social media posts, including claiming that the babies brutally murdered in the Oct. 7 Hamas attack were “fake,” and comparing the nation of Israel to Nazi Germany.Zainab Chaudry, an anti-Israel activist who serves as the director of the Council on American-Islamic Relations’ (CAIR) Maryland office, made the posts in the weeks following Hamas’ attack, which saw more than 1,200 people killed, including children and babies, as well as numerous rapes and destruction of property.”I will never be able to understand how the world summoned up…
The “Magnificent Seven” mega-cap stocks’ stellar 2023 continued Monday. The Big Tech giants added $150 billion to their combined market cap in a single day, driven higher by investors’ renewed focus on AI. Microsoft and Nvidia led the charge, with both companies’ share prices hitting fresh all-time highs. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app The “Magnificent Seven” stocks’ stellar 2023 continued Monday, as investors’ renewed focus on artificial intelligence powered two of the group’s members to fresh all-time highs.Microsoft and Nvidia led…
TOPSHOT – US President Joe Biden speaks on November 15, 2023. The Biden administration is … [+] implementing a number of student loan forgiveness initiatives, and developments are ongoing. (Photo by Brendan SMIALOWSKI / AFP) (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images)AFP via Getty Images Student loan forgiveness continues to be in the news. Despite losing a key legal battle over the summer, the Biden administration has approved tens of billions of dollars in student loan forgiveness under multiple programs. And the Education Department is working on more initiatives. In the meantime, a whirlwind of student loan legal and policy…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Shareholders have rejected the pay and bonus policy at Fortescue, the Australian iron ore-to-green hydrogen company, following an executive exodus this year over the group’s direction.Investors balked at special one-off payments to former Fortescue executives, with 52.4 per cent of shareholders voting against its remuneration proposal at the company’s annual meeting in Perth on Tuesday.While the vote is not binding, it does represent a setback for the mining and energy company. A second vote of more than 25 per cent against its…