Good morning. Souring mood in the bond market, China’s efforts to revive its stock market and Apple suffers from another slump. Here’s what people are talking about. The mood is rapidly souring in the world’s bond market, raising the stakes for Friday’s much-anticipated US monthly jobs data. A surge in long-term yields to their highest … Read more
Beijing and the surrounding province of Hebei were hit by severe flooding because of the record rainfall, with waters rising to dangerous levels. The rain destroyed roads and knocked out power and even pipes carrying drinking water. It flooded rivers surrounding the capital, leaving cars waterlogged, while lifting others onto bridges meant for pedestrians Source … Read more
ZHUZHOU, Hebei (AP) — China’s capital has recorded its heaviest rainfall in at least 140 years over the past few days after being deluged with heavy rains from the remnants of Typhoon Doksuri. The city recorded 744.8 millimeters (29.3 inches) of rain between Saturday and Wednesday morning, the Beijing Meteorological Bureau said Wednesday. Beijing and … Read more
Brazil’s Luiz Inacio Lula da Silva called on BRICS nations to come up with an alternative to replace the dollar in foreign trade, supporting China’s crusade against US global dominance just as he prepares to meet with President Xi Jinping in Beijing. Lula’s remarks were made on Thursday during a visit to the Shanghai-based New … Read more
China sought to allay fears it wants to topple the dollar as the world’s main reserve currency as Beijing makes bigger strides in creating its own digital yuan. People’s Bank of China Deputy Governor Li Bo said the goal for internationalizing its currency is not to replace the dollar, and the efforts to create a … Read more