MARKETS - Page 32

With China at risk of tipping into prolonged stagnation and a spiralling property crisis threatening financial stability, there is growing unease over why its leaders are not rushing to revive the world’s second-largest economy. With consumer spending slowing, shaky property prices and flagging exports amid the US drive for de-risking weighing on growth, the country is facing a perfect storm of challenges. Many investors, analysts and diplomats point to signs that Beijing seems hesitant to deliver the bold policies needed

The pound was on track for its biggest one-day gain in almost two weeks on Wednesday after data showed British core inflation stayed strong in July, reassuring the market that the Bank of England’s rate rises will have an impact. UK consumer price index excluding volatile food and energy prices, grew by 7.8% in the three months to July, a faster pace than the previous quarter and well above forecasts. But services inflation, which the BoE pays close attention to,

As gas prices continue to climb, nearing the $4 per gallon mark, concerns about a potential inflation rebound are intensifying. The global economic recovery, combined with increased demand and supply chain disruptions, has contributed to the recent surge in fuel prices. This article explores the implications of rising gas prices on inflation and analyzes the potential impact on various sectors of the economy. The Connection Between Gas Prices and Inflation:Gas prices directly impact the overall cost of goods and services.

China’s economic landscape has been scrutinized as its shadow banking sector, valued at a staggering $138 billion, faces heightened concerns. This development coincides with a challenging period for Chinese President Xi Jinping, navigating various economic and political challenges. The spotlight on the shadow banking industry underscores the delicate balancing act between maintaining economic stability and addressing potential financial risks in the world’s second-largest economy. “shadow banking” refers to a range of financial activities outside the traditional banking sector, often involving

The Russian ruble, a symbol of the nation’s economic stability, has grappled with unprecedented challenges as geopolitical tensions escalate due to the ongoing Ukraine invasion. The currency’s recent plunge to a 16-month low has raised concerns about the economic ramifications of the conflict. This article delves into the factors contributing to the ruble’s decline, examines the potential consequences for Russia’s economy, and offers insights into the broader global implications. The Russian ruble’s recent downturn can be primarily attributed to the

Saudi Arabian state oil giant Aramco (2222. SE) reported a nearly 38% drop in second-quarter net profit on Monday as weaker crude prices and thinner refining and chemicals margins cut profits. Still, the company boosted its dividend with a new performance-linked payout to help fill state coffers. The world’s largest energy company – and the country’s most valuable publicly traded company with a market value of more than $2 trillion – posted a quarterly profit of 112.81 billion riyals ($30.07

Coinbase is asking a judge to end the U.S. Securities and Exchange Commission’s frivolous lawsuit accusing the world’s largest publicly traded cryptocurrency exchange of violating federal securities laws. In a filing in federal court in Manhattan, Coinbase said the SEC had no authority to pursue its lawsuit because the digital assets and services it objected to did not qualify as securities. The company also accused the agency of overreach. The SEC in June filed suit in the Southern District of

The U.S. economy added fewer jobs than expected in July. Still, solid wage gains and a declining unemployment rate back to 3.5% indicated continued tightness in labor market conditions. The Labor Department’s employment report on Friday also showed job gains in May and June were revised lower, potentially suggesting demand for labor was slowing in the wake of the Federal Reserve’s hefty interest rate hikes this year. The unemployment rate fell to a near-record low of 3.5%, the lowest since

As Chinese companies face increasing scrutiny from the country’s government, Tesla (TSLA.O) is making inroads into its largest global market. CEO Elon Musk is said to have met with Prime Minister Narendra Modi during the latter’s visit to the US in June, and the Indian leader has made it clear that he wants to make a Tesla presence in India, despite the federal government’s recent decision to deny the company special import duties. The meeting could signal that the two

Coca-Cola bottler CCEP intends to jointly acquire Coke Philippine’s business for $1.8bn to become the world’s largest Coca-Cola bottler by revenue and volumes. The Uxbridge, UK-based Coca-Cola Europacific Partners (CCEP.L) said on Wednesday it had signed a non-binding term sheet and is in advanced discussions with Philippine conglomerate Aboitiz Equity Ventures (AEV) regarding a potential joint transaction to purchase Coca-Cola Beverages Philippines (CCBP) from The Coca-Cola Company (KO.N). The deal to buy CCBP in cash will be on a 60:40