The European Union should guard against Chinese attempts to dominate the bloc’s clean-tech market and make sure its exports aren’t destroying local rivals, the bloc’s new competition chief warned. In her first interview since becoming the EU’s antitrust commissioner, Teresa Ribera told Bloomberg that Europe and the US failed in recent years to anticipate the…
So Macron will just appoint a new prime minister, right? Yes, but it’s not that simple. The French National Assembly is divided into three political blocs: Macron’s centrists, the far-right National Rally, and the left-wing coalition. The three groups are poles apart on politics and refuse to work together, meaning that any new government could…
New World Development (NWD) has sold its stake in Hong Kong’s largest sports infrastructure project to parent Chow Tai Fook Enterprises (CTFE), as the developer takes steps to rein in debt after posting its biggest-ever loss. NWD sold a 100 per cent equity interest in New World Sports Development, the developer of Kai Tak Sports…
President Biden is making a last-ditch effort to cancel more student debt before the end of his term, after facing years of setbacks in his attempts to erase billions of dollars in borrowed money. The Department of Education announced an interim final rule this month to extend the deadline for student loan borrowers to enroll…
China’s push to improve the finances of cash-strapped localities will mean they have less money to spend on big infrastructure projects because for the first time funds from the sale of new local government special bonds are being used to repay old loans. In March, Beijing said local governments could sell 3.9 trillion yuan ($539…
China has effectively banned domestic investors from buying offshore yuan bonds issued by local government financing vehicles through its trading link with Hong Kong, according to people familiar with the matter, in the latest move to contain risks from the debt-laden sector. The People’s Bank of China has asked the country’s brokerages and banks to…
China’s economy showed encouraging signs as retail sales grew at the strongest pace in eight months, indicating Beijing’s latest round of stimulus has boosted some key sectors. Retail sales increased 4.8% in October from a year earlier, the National Bureau of Statistics said Friday, up from September’s gain of 3.2%. The reading exceeded the most…
Supply Lines is a daily newsletter that tracks global trade. Sign up here. China wields new powers as it confronts the prospect of another trade conflict with the US, expanding its retaliatory reach in recent years to include tools capable of wreaking havoc on global commerce and finance. Source link
China is cutting taxes for home purchases, as the government tries to put a floor under falling prices and sustain an improvement in housing transactions. The nation cut home purchase deed taxes to 1% for first- and second-house buyers of flats of 140 square meters and below, from a current level of as much as…
Worries around overheating stocks took over the narrative on Tuesday, underscoring the sense of froth in risky parts of the market that had surged after President-elect Donald Trump’s decisive election victory. A number of trades that took flight since last week faltered before key US inflation data to be released Wednesday. Small-cap stocks — which…