China intensified efforts to stimulate the economy and support its currency, as investor concerns over the growth outlook persist. The central bank will trim the amount of foreign currency deposits banks are required to hold as reserves for the first time this year, the People’s Bank of China said Friday. The move came hours after … Read more
An Hour Ago Tata Steel CEO says sustainability considerations are very important for the industry as it develops Steel is a growing sector particularly in India, thereby making it “very important” for sustainability to be part of the solution, said CEO of Tata Steel, T. V. Narendran. “We’re going to have about 100 million tons … Read more
China Evergrande Group slumped as much as 87% in Hong Kong trading following a 17-month halt, becoming a penny stock as the country’s most-indebted developer unveiled more losses and delayed meetings with creditors. The decline to HK$0.35 as of the lunch break on Monday shrank its market value to just HK$4.6 billion ($586 million) from … Read more
5 Mins Ago Europe stocks open higher European stock markets opened higher before extending gains in early trade, with the Stoxx 600 index up 0.9% at 9:07 a.m. BST. All sectors posted gains and tech stocks were 2% higher, following upbeat sessions in the U.S. and Asia-Pacific markets. See Chart… Stoxx 600 index. 37 Mins … Read more
An Hour Ago Europe stocks open higher The pan-European Stoxx 600 index opened higher Monday, and was up by 0.5% at 8:50 a.m. London time. All sectors posted gains, led by oil and gas, up 1.17%. France’s CAC 40 advanced 0.8% as Germany’s DAX and the U.K.’s FTSE 100 gained 0.5% and 0.2%, respectively. See … Read more
Country Garden Holdings Co., once China’s biggest real estate developer, is edging toward a default. The distressed builder suspended trading in nearly a dozen onshore bonds Monday, paving the way for debt negotiations and a possible restructuring. Investment bank CICC International Capital Corp. has been engaged to explore optionsBloomberg Terminal for the company, including extending … Read more