Category: Economy
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China’s Beijing, Shanghai ease mortgage rules for first-time home buyers
BEIJING (Reuters) -China’s Beijing and Shanghai on Friday announced that they would allow home buyers to enjoy preferential loans for first-home purchases regardless of their previous credit records. The capital city of Beijing would implement the eased rules immediately, while the financial hub of Shanghai scheduled the change for Saturday, according to local authorities of…
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Factbox-What are global companies saying about China’s economy?
(Reuters) – United States Commerce Secretary Gina Raimondo has said U.S. companies have raised concerns that China has become “uninvestible”, pointing to fines, raids and other actions that have made it too risky to do business in the world’s second-largest economy. Major global firms ranging from banks to chipmakers are taking a largely cautious stance…
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How to save for a longer lifespan
By Chris Taylor NEW YORK (Reuters) – If you have reached age 65 and are reading this, you are likely going to live a lot longer than you realize. The bad news is that you obviously will require money to do so – and you might have to revise your retirement calculations upward. That is…
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Europe’s STOXX 600 logs best day in a month; China-related stocks rise
By Shashwat Chauhan and Ankika Biswas (Reuters) -Europe’s benchmark STOXX 600 clocked its best one-day performance in a month on Monday in an overall market advance, boosted by China-exposed industrials on Beijing’s measures to aid its ailing stock market. The pan-European STOXX 600 closed 0.9% higher, with technology stocks leading the gains with a 1.7%…
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Life sciences firm Danaher to buy Abcam in $5.7 billion deal
By Manas Mishra (Reuters) – Danaher Corp on Monday agreed to buy protein consumables manufacturer Abcam Plc in a $5.7 billion all-cash deal including debt, as the medical tools supplier looks to expand its portfolio of products and services. The deal will help Danaher cushion the hit from sluggish demand for some of its products…
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A US-China detente to avoid ‘fiscally assured destruction?’ :Mike Dolan
By Mike Dolan LONDON (Reuters) -The United States and China may feel some financial detente is wise at this point – even if goading one another plays well domestically. A bruising August for both China’s economy, property sector and stock market on one hand and U.S. government debt on the other served as a reminder…
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Historic drought, hot seas slow Panama Canal shipping
By Lisa Baertlein and Marianna Parraga LOS ANGELES/HOUSTON (Reuters) – Before the Ever Max ship carrying lava lamps, sofas, Halloween costumes and artificial Christmas trees could make its inaugural Panama Canal voyage this month, a historic drought forced it to drop weight by offloading hundreds of containers. Weather-related disruptions denied the vessel, owned by Taiwanese…
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Bonds, emerging stocks eye ‘geo-investment’ switches :Mike Dolan
By Mike Dolan LONDON (Reuters) -August has been rough so far for emerging market stocks and western government bonds, a worrying confluence that may extend losses from ‘geo-investment’ standoffs and reflect an increasingly polarised world economy. Northern summer months can be a dangerous time to over-interpret financial market moves. Thin trading volumes and exaggerated price…
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Private equity firm CVC bags $4.45 billion so far in sixth Asia-focused fund
By Kane Wu HONG KONG (Reuters) -Europe-based private equity firm CVC Capital Partners has raised over $4.45 billion so far for its new Asia-focused fund, its latest regulatory disclosure showed. CVC is targeting to raise $6 billion for the fund, its sixth and largest to date for the region, people familiar with the situation told…
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Gold set for worst week in seven on dollar, yields strength
By Deep Kaushik Vakil (Reuters) – Gold prices on Friday were on track for their worst week in seven, hurt by an overall stronger dollar and elevated bond yields as investors digested the latest U.S. inflation numbers and awaited for more economic data later in the day. Spot gold rose 0.3% to $1,917.73 per ounce…