China is facing a repeat of the tensions and uncertainty from the first presidency of Donald Trump, only with a weaker economy that’s even more reliant on exports than it was during the first trade war with the US. China’s record trade surplus of nearly $1 trillion last year was equivalent to more than 5%…
Morning, I’m Louise Moon from Bloomberg UK’s breaking news team, bringing you up to speed on today’s top business stories. Rio Tinto and Glencore, two of the world’s biggest miners, have held discussions about combining their businesses, according to my colleagues’ scoop. Source link
China has failed to break a deflationary cycle and is now on track for the longest streak of economy-wide price declines since the 1960s, analysts say, exposing a key vulnerability likely masked by a growth upswing at the end of last year. Deflation persisted for the second straight year in 2024, official data due Friday…
China’s finance and property companies saw their workforces shrink in recent years years for the first time, reflecting the damage caused by a housing market collapse and regulatory probes. The financial industry had 12.4 million employees at end-2023, down 32% from five years earlier, according to economic census data released Thursday. The number of people…
China’s finance ministry reaffirmed it will increase public spending with a greater focus on boosting consumption to support the economy next year, ahead of growth headwinds from looming US tariffs. China will “expand the magnitude of fiscal spending and accelerate the spending pace,” according to a statementBloomberg Terminal published Tuesday following a two-day national conference…
Stocks headed for the basement Wednesday as Wall Street traders pouted over the more cautious tone emanating from the US Federal Reserve. After fulfilling all expectations by cutting rates another quarter point, Fed Chair Jerome Powell made clear the central bank sees its mission now as one where it doesn’t need to be as quick…
China’s top leaders have signaled stronger stimulus to help fill a hole in consumer demand. That doesn’t mean Beijing will roll out a “bazooka” package just yet, or abandon its factory focus. Senior officials last week endorsed their strongest pro-growth stance in a decade, indicating bigger government spending and more interest rate cuts. Boosting consumption…
After a week of political chaos following the ousting of Michel Barnier, Emmanuel Macron chose François Bayrou of the Democratic Movement party to be the next prime minister of France, the country’s fourth in a year. Bayrou is a long-term centrist ally of the French president who will be called upon to help restore confidence…
Growth in Hong Kong and Singapore for next year may come under pressure as Donald Trump returns to the White House armed with tariffs that may further slow China’s economy, according to the latest estimates from a Bloomberg survey. Economists cut their quarterly outlooks for HK through the first half of 2025 by at least…
Economy’s half-yearly report card: *Unexpected GDP growth downturn risky, *Underwhelming govt spend, *Expect rebound in spend, riding on rural, *India Inc’s ‘animal spirits’ awaited Economic growth in the first half of this fiscal has surprised on the downside. The story last fiscal was the opposite – at 8.2%, GDP growth had surprised on the upside….