Chinese President Xi Jinping called on government officials to make every effort in the final quarter to help the country meet its annual growth target of around 5%, underscoring the pressure the world’s No. 2 economy is facing as the year end draws closer. Xi urged government officials to “conscientiously implement” existing economic policies and…
China is considering allowing local authorities to issue as much as 6 trillion yuan ($853 billion) in bonds through 2027 mainly to refinance their off-balance-sheet debt, people familiar with the matter said, a key part of the government’s plan to shore up the world’s second-largest economy. Listen to the Here’s Why podcast on Apple, Spotify…
President Joe Biden is planning a pair of economic announcements — including new student loan debt relief — before departing for a trip to Germany and Angola as the White House seeks to harness momentum from recent positive economic data. Biden is set to announce next week that he’s expanding student debt relief for public…
Oil markets have continued their rollercoaster ride, with oil prices declining during Wednesday’s morning session as traders continue weighing on China’s latest stimulus package. Brent crude for November delivery declined 1.3% to trade at $74.22 per barrel at 10.25 am ET while WTI crude for October delivery fell by a similar margin to change hands…
Wall Street rejoiced over this week’s interest rate cuts, but there’s another investor class that was just as enthusiastic: venture capitalists. The tech correction of the last couple of years has left many startup investors longing for the Federal Reserve’s bygone zero interest rate policy, or ZIRP, which helped fuel the industry’s boom in 2021…
Your financial playing field just shifted. For the first time in four years, the Federal Reserve reduced interest rates, announcing a jumbo cut of 50 basis points. It’s the sort of move usually deployed in a crisis, but the American economy remains strong. Inflation is trending down. Markets are up. What does this mean for…
Welcome to CFO Briefing, a newsletter devoted to corporate finance and what leaders need to know. If this was forwarded to you, sign up here . This week’s highlights include a dive into what finance chiefs are saying and doing ahead of the Fed’s expected rate cut. Plus, the CFO of China-owned agricultural firm Syngenta…
The Hong Kong Housing Society (HKHS) has signed HK$12 billion ($1.54 billion) five-year term and revolving syndicated loan facilities with 12 local and international banks, making it HKHS’ largest ever syndicated loan; it includes a HK$3 billion social tranche. The overall pricing of the loan facilities is based on the Hong Kong Interbank Offered Rate…
Fosun International Ltd. has secured a HK$1.6 billion ($205 million) syndicated loan to partly refinance an existing facility for a Hong Kong property project, according to people familiar with the matter. The new facility, which has a one-year tenor, was signed at the end of last month, said the people, asking not to be named…