The Chinese central bank pumped another 100 billion yuan into China’s banking system on Monday. It has been reported by the state Xinhua media. The interest rate on the 14-day reverse repos is 2.35 percent, according to the People’s Bank of China. There are serious concerns about the Chinese financial system due to the impending demise of property developer Evergrande, which is...
The us dollar has been quite a bit stronger against the euro, due to the uncertainty with regard to the problems in China’s real estate industry, which pushes investors to flee to safe havens, the dollar, the Japanese yen. The reason for this is the financial problems of the large Chinese real estate company Evergrande, which is shifting to the valuations of other real estate in Asia and...
Pomerantz Law Firm started a class action lawsuit against Philips on behalf of investors who bought shares in the company between 25 February 2020 and 11 June 2021. This was announced on Wednesday evening. Pomerantz wants investors to be compensated for the” significantly incorrect and misleading ” statements made by Philips regarding the recall of ventilators in the United States...
Chinese industrial production increased in August, but less than expected and less than a month earlier. This was shown on Wednesday by government figures. Production increased by 5.3 percent, after a plus of 6.4 percent in July. The increase was 8.3% In June and 8.8% in May. The increase in production in August is below the expectations of economists, who assumed a plus of 5.6 percent. On a...
Beijing wants to split Alipay’s lending activities into a separate app. Ant Group, which owns payment app Alipay, will transfer the user data on the basis of which credit is provided to a new joint venture that assesses the creditworthiness and which will be partly owned by the Chinese state. Other online lenders in China are also affected by the measures. Last year, the IPO of ANT Group...
Royal Dutch Shell is looking into the possibilities of obliging its employees to vaccinate themselves against corona, and those who refuse will be fired. This is reflected in an internal document of the energy giant dated 1 September, which was reviewed by the Financial Times. Initially, it would cover personnel in offshore and other remote locations and at a later stage also personnel elsewhere...
The Japanese service sector shrank in August. This was revealed on Friday by final figures from Markit. The index measuring the activity of the country’s services sector reached 42.9 in August, compared with 47.4 in July. This is the sharpest decrease since May 2020. Earlier this week, the Purchasing Managers Index for Japanese industry also decreased in August, from 53.0 in July to 52.7...
Employment in the US business sector continued to grow less than expected in August. New figures from payslip processor ADP indicate that many companies continue to have difficulties in finding staff as the economy picks up again and the demand for additional employees increases. According to ADP, only 374,000 new jobs were created in business in the United States last month. Economists expected...
Corona lockdowns in Vietnam are negative for Heineken, but the outlook for the Amsterdam Brewer remains favorable. This is what analysts from Credit Suisse write Wednesday. In 2019, the Asian country accounted for about 12 percent of Heineken’s profits. And the measures against the coronavirus in Vietnam therefore put a brake on the stock, according to Credit Suisse, which is also counting...
The number of homes under construction in the United States fell further than expected in July, but there were more permits than expected. This was shown on Wednesday by figures from the US government. In July, the number of homes under construction decreased by 7.0 percent on a monthly basis to 1.534 million homes on an annualized basis. Economists expected an average decrease of 3.2 percent in...