Market Chaos: Why Markets are Bouncing Back
Fear was out of control yesterday. With an upcoming Federal Reserve meeting, the virus, fears of a slowing economy, and a potential default in China, the Dow fell more than 600 points. According to Business Insider, “Some have suggested that if Evergrande collapses,...
Three of the Top Ways to Protect for Further Chaos
The fear is palpable. At the moment, the Dow is down 800 points, as the NASDAQ sinks 408. According to The Wall Street Journal, “The retreat came amid concerns over property developer China Evergrande Group. Market participants increasingly believe that Beijing will...
With Negativity Priced In, Consider Rolling the Dice of Casino Stocks
Over the last few days, investors have been cashing out of casino stocks. All as China moves to tighten control of the industry. According to GGR Asia, “The Macau government wants to increase the share of the mass-market segment in the casino industry, and pledged to...
Three of the Top Steel Stocks to Buy and Hold Now
Steel prices – and related stocks could be headed higher. All with the current supply-demand imbalance. Plus, with a potential $1 trillion infrastructure plan designed to fix U.S. roads, bridges, and ports, there’s no telling how high steel prices could run. "It’s...
Energy transition comes with huge price tag -Italy business leader
ROME (Reuters) - Energy transition could cost Italy in excess of 650 billion euros ($760 billion) over the next decade and the government must do more to help businesses bear the cost, the head of the employers' federation said on Thursday. "The national recovery plan...
Evergrande debt problems not just a local issue – Swiss National Bank
ZURICH (Reuters) -The Swiss National Bank is closely monitoring the situation at China's Evergrande Group, SNB Chairman Thomas Jordan said on Thursday, amid concerns that its debt problems could pose risks to China's financial system. "It is wrong to be alarmist, but...
Evergrande puts small investors first as debt deadline looms
By Clare Jim, Anshuman Daga and Tom Westbrook HONG KONG/SINGAPORE (Reuters) - China Evergrande Group will make it a top priority to help retail investors redeem their investment products, its chairman said, as uncertainty looms over a bond interest payment the...
Stocks shrug off hawkish Fed, Evergrande soars in China
By Marc Jones LONDON (Reuters) - World markets rallied on Thursday after the U.S. Federal Reserve confirmed plans to start reeling in stimulus, Norway became the first rich economy to raise rates since COVID struck and China Evergrande shares leapt ahead of a crucial...
Deutsche Bank CFO: There should be banking M&A, we must prepare
BERLIN (Reuters) -Deutsche Bank sees the logic that there should be consolidation in the European banking sector and the task in hand is to prepare for that outcome, Chief Financial Officer James von Moltke said on Thursday. Hewing closely to the German bank's...
Unit of SMCP’s majority shareholder fails to redeem bonds
PARIS (Reuters) - French fashion company SMCP, whose brands include Sandro and Maje, said on Thursday that European TopSoho - a unit of its majority shareholder - had failed to redeem 250 million euros ($293 million) of bonds exchangeable into SMCP shares. "European...
Taiwan flags China ‘risk’ to Pacific trade pact bid
By Ben Blanchard and Yimou Lee TAIPEI (Reuters) - There is a "risk" to Taiwan's application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) if China joins first, Taiwan's government said on Thursday, flagging a potential...
White House seeks to address semiconductor chips crisis harming automakers
By David Shepardson WASHINGTON (Reuters) - The White House will discuss ways to overcome a semiconductor chip supply crisis that is cutting auto production around the world in a new round of meetings with major companies on Thursday. Commerce Secretary Gina Raimondo...
Vietnam willing to share information with China for its bid to join CPTPP
HANOI (Reuters) -Vietnam said on Thursday it is willing to share its experience and information with China for the world's second largest economy's bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). "The CPTPP is an open...
Facebook explains content it demotes in news feed in bid for transparency
By Sheila Dang (Reuters) - Facebook Inc on Thursday said it reduces the distribution of certain content including clickbait, posts with "sensationalist" or exaggerated health claims or low-quality videos on its news feed, and outlined its content guidelines as the...
Oil prices rise on tight supply, renewed risk appetite
By Bozorgmehr Sharafedin LONDON (Reuters) -Oil prices extended gains on Thursday, riding higher on growing fuel demand and a bigger-than-expected draw in U.S. crude inventories as production remains hampered in the Gulf of Mexico after two hurricanes. Brent crude rose...